Download or read book Investor Engagement written by Roderick Martin and published by OUP Oxford. This book was released on 2007-07-05 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth of shareholder value has been a major change in Western economies since the 1980s. This growth has reignited debates concerning relations between investors and managers. This book argues that investors are more than passive providers of finance, on whose behalf managers seek to maximize shareholder returns. Instead, many investors directly influence management practice, through investor engagement. The book examines the role of institutional investors and private equity firms, two types of investors with overlapping but different reasons for engagement. Questions addressed include: What are the incentives, and disincentives, for investment engagement? How is investor engagement organized? What areas of management practice are of particular concern to investors? The discussion shows in detail how private equity firms play a major role in developing new companies, beyond the provision of finance, especially in the IT, biotechnology, and pharmaceutical sectors. The discussion is primarily based on British and US research. The debate has wider international relevance, because there are strong pressures for establishing shareholder value as the international 'norm' for systems of corporate governance. Following a detailed discussion of Germany, the authors conclude that there is no inevitable trend to shareholder value: shareholder value depends upon complementary institutional arrangements in national business systems, which are far from universal. The book concludes with a critical analysis of the justifications for shareholder value and investor engagement, highlighting the weaknesses of both efficiency and equity justifications.
Download or read book The Cambridge Handbook of Shareholder Engagement and Voting written by Harpreet Kaur and published by Cambridge University Press. This book was released on 2022-09-15 with total page 1013 pages. Available in PDF, EPUB and Kindle. Book excerpt: All over the world, companies play an important role in the economy. Different types of stakeholders hold the reins in these companies. An important class are the shareholders that finance the activities of these companies. In return, stakeholders have a say on how these companies should be organized and structure their activities. This is primarily done through voting and engaging. These mechanisms of voting and engaging allow the shareholders to decide significant aspects of the company structure, from who governs it to how much directors are paid. However, how shareholders vote and engage and how far their rights stretch are organized differently in different countries. This pioneering book provides insights into what rights these shareholders have and how the shareholders of companies in nineteen different jurisdictions participate in corporate life through voting and engaging. Comparative and international in scope, it pays particular attention to how jurisdictions align and differ around the world.
Download or read book Investor Engagement written by Roderick Martin and published by . This book was released on 2007 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Western business practice has been transformed since the 1980s with the growth of shareholder value. This book examines the resulting change in relations between investors and managers as investors have become actively engaged with the companies in which they invest, the rationale for this, and forms it takes.
Download or read book Constructive Engagement written by Nicholas Beale and published by Routledge. This book was released on 2017-11-28 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationships between investors, directors and companies have never been so vital, or so confusing. Gone are the days when being a non-executive director (NED) meant an agreeable lunch and when CEOs wanted them to meet investors 'over my dead body'. Even the most admired companies can be engulfed in scandal and the NEDs find themselves having to drive through fundamental changes. The corporate environment is full of pitfalls for unwary boards. And there are plenty of headline stories of directors who have failed to measure up. Equally, a high quality board which has the confidence of the investors is a major strategic asset: making better decisions, attracting better people and allowing bolder strategies to succeed with investor backing. Nicholas Beale uses research gathered from leading FTSE 100 chairmen, directors, non-executive directors and investors to explore their changing roles. What emerges is a fascinating and instructive picture of constructive engagement; an approach that sees these companies (and the people behind them), each in their own way, address the challenges that are at the heart of global capitalism, and that have lead to the Higgs Review, Sarbanes-Oxley and other regulatory attempts to address corporate mismanagement. From discussions with over 100 leading practitioners, detailed studies of three leading companies, three leading investors and an extended case study on investor engagement at Royal Dutch Shell, the author draws a series of ideas and guidance for all of the parties involved. Sadly this book has come too late for the directors and investors of those companies that have crashed and burned, but all others who are, or aspire to be, directors or significant investors in listed companies should read this book, learn the lessons it has to offer and start adopting them in the organization(s) with which you work and in the portfolios you develop. For more information visit www.conseng.net
Download or read book Collaborative Investor Engagement with Policymakers written by Camila Yamahaki and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although a growing number of investors are engaging with sovereign entities on environmental, social, and governance (ESG) issues, little academic research investigates this new form of investor activism. Applying universal ownership theory and drawing on eleven case studies of policy engagement, this article analyzes what drives institutional investors to engage with government entities and what challenges they find in the process. We identify a trend that investors conduct policy engagement to fulfill their fiduciary duty, improve investment risk management, and create an enabling environment for sustainable investments. As for engagement challenges, investors report the longer-term horizon, a perceived limited influence toward governments, the need for capacity building for investors and governments, the difficulty in accessing government representatives, and possible accusations of interfering with national sovereignty. This research contributes to the public policy and sustainable finance literatures and offers governments insights on the demands of the investment community.
Download or read book The Pursuit of Absolute Engagement written by Julie Littlechild and published by . This book was released on 2017-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ESG and Responsible Institutional Investing Around the World A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Download or read book Foreign Direct Investment written by Daniel Nicholls and published by Routledge. This book was released on 2016-04-22 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the world continues to recover from one of the most dramatic financial crises in a generation, expanding corporations are increasingly, yet cautiously, seeking out international investment opportunities. At the heart of this fragile investment recovery lie trust and confidence. With an unprecedented number of investment promotion agencies and economic development organisations now competing for the attention and business of a more cautious and discerning investor audience, smart approaches to strategic differentiation, communication, engagement and investment services are becoming increasingly critical if these agencies and organisations are to succeed. At the same time, transparent and responsible approaches to investment, coupled with effective, compelling advocacy, are increasingly important to the success of companies’ investment projects. Daniel Nicholls’ Foreign Direct Investment offers an exploration of some of the key trends, issues and practices that are shaping the global FDI landscape. Along the way he provides insight into how economic developers and investors alike can make the most of their opportunities and mitigate reputational and communications challenges that can impede or hinder a successful investment. By presenting perspectives and priorities from both sides, Daniel Nicholls’ book bridges the ’investment gap’ by giving its readers an important insight into what matters to the other side. This book represents a smart investment for anyone involved.
Download or read book Institutional Investor Engagement written by Mark Fenwick and published by . This book was released on 2018 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to encourage meaningful and constructive engagement, countries have promulgated and published stewardship codes. The distinctiveness of such codes is the attempt to create more responsible and purposeful investor engagement. In particular, institutional investors must be viewed - and view themselves - as “stewards” of a company.This paper argues that stewardship codes do matter. Looked at in isolation, the impact of regulatory initiatives aiming to mobilize institutional investors can often seem underwhelming in their effects and might easily be perceived as failing, in some sense. In general, regulatory interventions don't seem to have an immediate or significant impact on the incentives and actions of investors.Nevertheless, the process of designing and then implementing regulatory measures can play a crucial role in triggering interest in, and discussion around, the need for a more engaged relationship between institutional investors and the companies that they own. It is in this less formal mode -- via a process of “spotlighting” -- that regulation can play a crucial role in fostering a corporate culture in which all of the stakeholders in a company become more engaged with senior management.
Download or read book Investor Engagement to Mitigate Climate Change written by Bill Rees and published by . This book was released on 2018 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use an experimental setting to investigate the impact of investor engagement and management attitudes on the reporting and performance of climate change management. Our results show that engaged companies were more likely than the control group to improve both their climate change reporting and performance, and that management recalcitrance significantly impeded improvement but did not eliminate the effectiveness of engagement. The study contributes to the understanding of the role of shareholder activism in advancing environmental, social and governance issues by offering evidence from non-confrontational engagement by a relatively small institutional investor and by highlighting the role of management. The study offers evidence to institutional investors that relatively small investment institutions can effectively engage with firms and change management practice without necessarily embarking on costly or time consuming programmes. The results also have implications for targeting engagement for maximum effectiveness and for the design and implementation of policy and regulation to promote better carbon management.
Download or read book Talent Strategy Risk written by Bill McNabb and published by Harvard Business Press. This book was released on 2021-07-06 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Long-term value creation—the board's new agenda. A big shift in public ownership has created a new set of challenges for boards. Index funds managed by firms like Vanguard, BlackRock, and State Street represent an emerging class of permanent institutional investors who are focused on creating and preserving long-term corporate value. These investors are stating in no uncertain terms that simply managing for short-term shareholder profit is not acceptable. Bill McNabb, Ram Charan, and Dennis Carey have been on the front lines of these changes with the investment community, corporate boards, and top-level management teams. Since TSR (total shareholder return) cannot keep the short and long term in balance, the authors argue, boards should focus on a different kind of TSR—talent, strategy, and risk—because decisions and actions around these factors, more than any others, determine whether or not a company creates long-term value. This book redefines the board's agenda and explains how to: Build and incentivize the right leadership team Help leaders take a longer view and communicate it to investors Refresh board composition and create diversity to meet the new challenges Keep major risks, such as cyberattacks and sexual harassment allegations, front and center Analyze the business through the eyes of a shareholder activist With the new realities of corporate ownership, boards need to lead for the long term. This authoritative book shows them how.
Download or read book Facilitating Investor Engagement on ESG Issues written by Valeria Piani and published by . This book was released on 2014 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article summarizes the key practical insights and results from a study published by the authors in Business and Society. It demonstrates that collaborative engagement with companies on environmental, social, and corporate governance (ESG) issues provides institutional investors with material benefits including opportunities to share resources, time, and knowledge as well as to increase the weight of investors' demands in the eyes of corporate management. The article also notes that these collaborations come with typical barriers to collective action, such as properly funding such initiatives. The primary focus of the article is to explore the multiple roles that an organization such as PRI can play to overcome these challenges and support the collaborative engagement process. The authors begin by setting out a conceptual framework to address this question, then describe the findings of three actual case studies in which PRI played such a role.
Download or read book Corporate Integrity and Accountability written by George G. Brenkert and published by SAGE Publications, Incorporated. This book was released on 2004-07-08 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ethical and legal scandals at Enron, WorldCom, Tyco and many other businesses in the United States, Europe and Asia have shaken people's confidence in business. Corporate Integrity and Accountability seeks to address questions of corporate integrity as they arise for financial reporting, executive compensation, globalization, and business ethics itself. The chapters are the product of leading business ethicists—both academic and practitioner—in the U.S. and Europe, resulting in the application of different methodologies, sources, and forms of argument. This gives the reader a sense not only of the complexity of some of the ethical issues business faces, but also the richness of the various resources that are available to address these issues.
Download or read book The Resilient Investor written by Hal Brill and published by Berrett-Koehler Publishers. This book was released on 2015-02-15 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you want to build a better life and a better world—and really be prepared for any possible future in these turbulent times—you need to become a resilient investor! This trailblazing guide will expand your ideas of investing way beyond Wall Street. Your time, your energy, and the things you own are investments too, and you'll learn to diversify them in ways that move you toward your life goals. The Resilient Investment Map lays out all your assets—personal and physical as well as financial—and then provides three essential, timely strategies (Close to Home, Sustainable Global Economy, and Evolutionary Investing) that will help you grow each of them. The goal is to become more resilient: able to anticipate disturbance, rebuild as necessary, and improve when possible. You'll discover that the choices making you more resilient also enhance our communities, our economy, and the planet—building real wealth for all.
Download or read book Professional Investor written by and published by . This book was released on 2008 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investor Relations The Art and Philosophy of Effective Corporate Communications written by Thomas J. Lauria and published by Lulu.com. This book was released on 2008 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary objective of this handbook is to create a comprehensive knowledge base on the broad and sometimes misunderstood topic of investor relations, the center of most corporate communications programs. The approach taken was to first develop a thorough understanding of Wall Street itself. Having been a Fortune 25 Investor Relations Director as well as a Sr. Equity Analyst and Equity Research Director, the perception of what is needed by the financial community is quite different than what many investor relations officers believe. Driving a "hyperactive" Investor Relations program is the ultimate aim of this text. The author believes that the insight provided herein will enable new IROs to best understand their new profession and enable existing practitioners to add additional elements to their marketing programs that will enhance shareholder understanding and value. The author's website can be viewed at www.tomlauria.com.
Download or read book Investor engagement written by Anne-Laure Denis and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
