This paper investigates the evolution of general meeting practices among Finnish listed companies, particularly in the context of the Covid-19 pandemic and subsequent legislative changes. The analysis covers the transition from traditional physical meetings to remote and hybrid formats, examining empirical data from general meetings held during the temporary laws of 2020 and the subsequent amendments to the Finnish Companies Act in 2022. The study aims to determine whether these companies have fully embraced digitalisation, reverted to pre-pandemic physical meetings, or adopted a hybrid approach. Furthermore, the paper includes a comparative analysis of Nordic corporate governance frameworks in respect of general meetings, evaluating whether Finnish practices align with those of other Nordic countries or if divergent developments have emerged post-pandemic. The research also considers the role of proxy advisors and their influence on international investor behaviour in general meetings, as well as the broader implications of digitalisation on shareholder democracy.
1. Introduction
The Nordic companies acts share a common background. They all have their roots in German and French corporate legislation of the 19th century with strong influence from the Anglo-Saxon juridical tradition. In the past there have been several efforts to harmonise corporate legislation between the Nordic countries. However, during the past decades, the Nordic companies acts started to drift apart due to a result of different political agendas and the fact that the coun ...