This is the accepted version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/22183/ Link to published version: http://dx.

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While Amazon's disruption of the retail market has been associated with significant changes in consumer behavior, empirical studies on how interacting with Amazon has changed customers' expectations toward other offline/online retailers remain scarce. Such Amazon‐driven perceptions of service attributes are sometimes referred to as the ‘Amazon effect’. After clarifying the meaning of the Amazon effect and reviewing the studies on consumer complaints online, this paper aims to identify key triggers for the Amazon effect from consumer comments on social media. Based on natural language processing techniques, a content and sentiment analysis of users' comments drawn from the Facebook pages of three leading consumer electronics retailers in Italy over a two‐year span (2016–2018) was used to evaluate the dissatisfaction toward these retailers associated to Amazon‐related service attributes. The findings show that there is a wide diffusion of consumer comments and service complaints related to the Amazon effect on consumer electronics retailers, especially regarding price, customer service, in‐store staff, and post‐purchase support. Compared with corresponding evaluations on the Italian Amazon website, the negative sentiments revealed in consumers' comments on Facebook suggest that the Amazon's service standards have raised consumer expectations and have made consumers less satisfied when they interact with other retailers. We argue the need for further research to better clarify Amazonification in terms of customer impatience and dissatisfaction in general, also going beyond price and logistics issues, which are usually considered as the main constitutive factors.

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Purpose of the paper: Recent research identifies a troubling number of institutional investors that automatically follow the advice of their proxy advisors so that they can prove to have complied with their fiduciary duties in a practice known as robo-voting. Therefore, our central research questions are: How could the characteristics of institutional investors affect robo-voting phenomenon? How could robo-voting phenomenon favour the creation of new opportunistic behaviour, changing the scope of shareholder engagement? Methodology: Our paper directly addresses these questions by using ANCOVA (Analysis of Covariance) to test the effect of characteristics of institutional investors on the dependent variable under study. We use a manually constructed sample of coverage information from 123 Annual General Meetings held by large Italian companies in the 4-year period 2015 to 2018 and the voting reports of three proxy advisors. Findings: We show that such voting based on robo-voting phenomenon is restricted to specific types of institutional investors and it may be highlighted as a negative aspect of a duty to ‘demonstrate’ engagement on the part of institutional investors. Specifically, this duty could depend on location, strategy and category of institutional investors. Research limits: We refer only to the Italian market and it may be considered as a peripheral market by investors. Practical implications: We argue that legal enforcement of the conceptual and operational spectrum of engagement duties currently sits uncomfortably upon institutional investors and proxy advisors. Originality of the paper: We think it is important to consider how to promote shareholder engagement in general in a European context and at the same time curb negative activism by some shareholders.