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3 - Shareholder Engagement and Voting in Hong Kong

from Part I - Asia

Published online by Cambridge University Press:  10 September 2022

By
Lauren Yu-Hsin Lin
Edited by
Harpreet Kaur ,
Chao Xi ,
Christoph Van der Elst  and
Anne Lafarre
Harpreet Kaur
Affiliation:
National Law University Delhi
Chao Xi
Affiliation:
The Chinese University of Hong Kong
Christoph Van der Elst
Affiliation:
Tilburg University, The Netherlands
Anne Lafarre
Affiliation:
Tilburg University, The Netherlands
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Summary

This chapter has reviewed the rights of shareholders to participate in corporate affairs and engage with companies in Hong Kong. With concentrated ownership, it is unlikely that shareholders can change or influence corporate decisions through voting or engagement. Retail and minority shareholders rarely vote in general meetings. The promulgation in March 2016 of the Principles of Responsible Ownership in Hong Kong raised awareness of shareholder participation amongst large institutional shareholders. Legal means of protecting minority shareholders can help institutional shareholders to leverage their weak voting position when demanding changes in controlled firms. However, resorting to legal means is not affordable to retail investors. Hence, facilitating the online voting of retail shareholders and encouraging participation by institutional shareholders might be the best directions for future shareholder engagement in Hong Kong.

Keywords

Shareholder votingstewardship codeinstitutional shareholderonline votinglegal mechanisms
Type
Chapter
Information
The Cambridge Handbook of Shareholder Engagement and Voting , pp. 45 - 61
Publisher: Cambridge University Press
Print publication year: 2022

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