Identifying Corporate Sustainability Issues by Analyzing Shareholder Resolutions: A Machine-Learning Text Analytics Approach
Abstract
:1. Introduction
Do shareholder resolutions reflect corporate sustainability concerns in terms of environmental, social, and governance aspects?
2. Research Background
2.1. Sustainability
2.2. Shareholder Resolutions
2.3. Text Analytics and Machine Learning
3. Methodology
3.1. Descriptive Data Analysis
3.2. Text Analytics
4. Results and Analysis
5. Discussion
6. Conclusions
Author Contributions
Funding
Conflicts of Interest
References
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No. | Rank | Company | Count | Proportion |
---|---|---|---|---|
1 | 1 | Exxon Mobil Corporation | 53 | 3.05% |
2 | 2 | Chevron Corporation | 45 | 2.59% |
3 | 3 | Dominion Energy, Inc. | 29 | 1.67% |
4 | 4 | Amazon.com Inc. | 20 | 1.15% |
5 | 4 | ConocoPhillips | 20 | 1.15% |
6 | 6 | Alphabet Inc. | 19 | 1.09% |
7 | 6 | Devon Energy Corporation | 19 | 1.09% |
8 | 6 | McDonald’s Corp. | 19 | 1.09% |
9 | 9 | Duke Energy Corporation | 16 | 0.92% |
10 | 9 | Kroger Co. | 16 | 0.92% |
11 | 11 | Emerson Electric Co. | 14 | 0.81% |
12 | 11 | FedEx Corporation | 14 | 0.81% |
Rank | Sector | Count | Rank | Sector | Count |
1 | Oil, Gas & Consumable Fuels | 317 | 16 | IT Services | 27 |
2 | Electric Utilities | 119 | 18 | Biotechnology | 26 |
3 | Hotels, Restaurants & Leisure | 85 | 18 | Chemicals | 26 |
4 | Multi-Utilities | 83 | 18 | Equity Real Estate Investment Trusts (REITs) | 26 |
5 | Food Products | 82 | 18 | Internet & Direct Marketing Retail | 26 |
6 | Specialty Retail | 56 | 18 | Media | 26 |
7 | Food & Staples Retailing | 55 | 23 | Diversified Telecommunication Services | 25 |
8 | Capital Markets | 47 | 24 | Multiline Retail | 24 |
9 | Banks | 46 | 25 | Communications Equipment | 23 |
10 | Internet Software & Services | 44 | 25 | Pharmaceuticals | 23 |
11 | Machinery | 33 | 27 | Tobacco | 22 |
12 | Air Freight & Logistics | 31 | 28 | Textiles, Apparel & Luxury Goods | 21 |
12 | Health Care Providers & Services | 31 | 29 | Aerospace & Defense | 20 |
14 | Insurance | 30 | 29 | Health Care Equipment & Supplies | 20 |
15 | Metals & Mining | 29 | 29 | Technology Hardware, Storage & Peripherals | 20 |
16 | Beverages | 27 | 32 | Electrical Equipment | 19 |
Rank | Sector | Count | Rank | Sector | Count |
33 | Industrial Conglomerates | 18 | 49 | Auto Components | 5 |
34 | Construction & Engineering | 17 | 50 | Professional Services | 4 |
34 | Software | 17 | 50 | Real Estate Management & Development | 4 |
36 | Semiconductors & Semiconductor Equipment | 16 | 52 | Airlines | 3 |
37 | Automobiles | 15 | 52 | Building Products | 3 |
37 | Household Products | 15 | 52 | Construction Materials | 3 |
39 | Diversified Financial Services | 14 | 52 | Containers & Packaging | 3 |
39 | Energy Equipment & Services | 14 | 52 | Electronic Equipment, Instruments & Components | 3 |
39 | Independent Power and Renewable Electricity Producers | 14 | 52 | Life Sciences Tools & Services | 3 |
42 | Road & Rail | 13 | 52 | Personal products | 3 |
43 | Consumer Finance | 12 | 52 | Trading Companies & Distributors | 3 |
44 | Gas Utilities | 10 | 60 | Diversified Consumer Services | 2 |
45 | Commercial Services & Supplies | 9 | 60 | Wireless Telecommunication Services | 2 |
46 | Household Durables | 7 | 62 | Distributors | 1 |
46 | Water Utilities | 7 | 62 | Mortgage Real Estate Investment Trusts (REITs) | 1 |
48 | Leisure Products | 6 | 62 | Paper & Forest Products | 1 |
Year | Status | Count | Year | Status | Count |
---|---|---|---|---|---|
2009 | Others | 6 | 2015 | Others | 9 |
Vote | 24 | Vote | 207 | ||
Withdrawn | 17 | Withdrawn | 46 | ||
2009 Total | 47 | 2015 Total | 262 | ||
2010 | Others | 4 | 2016 | Others | 10 |
Vote | 41 | Vote | 245 | ||
Withdrawn | 27 | Withdrawn | 59 | ||
2010 Total | 72 | 2016 Total | 314 | ||
2011 | Others | 6 | 2017 | Others | 15 |
Vote | 17 | Vote | 227 | ||
Withdrawn | 23 | Withdrawn | 87 | ||
2011 Total | 46 | 2017 Total | 329 | ||
2012 | Others | 5 | 2018 | Others | 34 |
Vote | 14 | Vote | 207 | ||
Withdrawn | 12 | With drawn | 91 | ||
2012 Total | 31 | 2018 Total | 332 | ||
2013 | Others | 2 | 2019 | Others | 88 |
Vote | 14 | Vote | 5 | ||
Withdrawn | 44 | Withdrawn | 43 | ||
2013 Total | 60 | 2019 Total | 136 | ||
2014 | Others | 12 | |||
Vote | 33 | ||||
Withdrawn | 63 | ||||
2014 Total | 108 | Grand Total | 1737 |
Variable | Description |
---|---|
Org | Organization |
Industry | The industry in which the organization operates |
Title | The title of the sustainability disclosure |
Filed By | The entity whom filed the disclosure for the organization |
Status | Vote/Others/Withdraw |
Label | Vote=1/Others=2/Withdraw=O |
Y | Filling year of the disclosure |
Summary | Textual disclosure of such report |
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Raghupathi, V.; Ren, J.; Raghupathi, W. Identifying Corporate Sustainability Issues by Analyzing Shareholder Resolutions: A Machine-Learning Text Analytics Approach. Sustainability 2020, 12, 4753. https://doi.org/10.3390/su12114753
Raghupathi V, Ren J, Raghupathi W. Identifying Corporate Sustainability Issues by Analyzing Shareholder Resolutions: A Machine-Learning Text Analytics Approach. Sustainability. 2020; 12(11):4753. https://doi.org/10.3390/su12114753
Chicago/Turabian StyleRaghupathi, Viju, Jie Ren, and Wullianallur Raghupathi. 2020. "Identifying Corporate Sustainability Issues by Analyzing Shareholder Resolutions: A Machine-Learning Text Analytics Approach" Sustainability 12, no. 11: 4753. https://doi.org/10.3390/su12114753