Download or read book The Influence of Institutional Investors on Corporate Management and Corporate Governance in Germany written by Sebastian Sturm and published by GRIN Verlag. This book was released on 2009-04-14 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2008 in the subject Business economics - Law, grade: 1,3, Technical University of Chemnitz, language: English, abstract: Corporate management and corporate governance are becoming more and more crucial in today’s successful economies. With the increasing relevance of capital markets this subject comes more into the focus of the public. Particularly, the fast growing importance of institutional investors is a key factor which helps to explain the changing attitude of managers towards shareholders and corporate governance. In conjunction with the German capital market, a wide variety of mismanagement in German public limited companies has revealed shortfalls of German top-management and corporate control in the last decade. This development was of fundamental importance for the development of the German Corporate Governance Code. Hence, the basic underlying of corporate governance can be attributed to a conflict between the management of a listed corporation and its owners. More precisely, this conflict arises because the management does not adequately comprise the interests of shareholders. In Germany, assets under management of professional investors have increased at 92 percent from 1990 to 2001.1 In addition, a growing administration of private savings by professional fund managers as well as the intensified exercise of influence by institutional investors on corporate governance and corporate management respectively corporate strategy is observable. Similarly, a growing importance of institutional investors could be observed in the United Kingdom as well as in the United States. Within academic literature, the issue of activism by institutional investors in Germany is analyzed little, so far. Furthermore, there are only a few surveys on the outcome of the influence by institutional investors on corporate management. Therefore, this thesis aims to answer the following questions: 1. How was the development of shareholder activism in Germany and how can it be characterized and explained? 2. Is shareholder activism a superior tool in relation to the market of corporate control to solve the principal-agent problem? 3. What do institutional investors demand from German corporations and in particular from corporate management? 4. Which options do institutional investors have to influence corporate management? 5. How are these options for activism covered by the German Corporate Governance Code and the German legal framework? 6. What is the optimum corporate governance from an institutional investor’s angle? 7. What is the empirical outcome?

Download or read book The Influence of Institutional Investors on Corporate Management and Corporate Governance in Germany written by Sebastian Sturm and published by GRIN Verlag. This book was released on 2009-05 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2008 in the subject Business economics - Law, grade: 1,3, Technical University of Chemnitz, language: English, abstract: Corporate management and corporate governance are becoming more and more crucial in today's successful economies. With the increasing relevance of capital markets this subject comes more into the focus of the public. Particularly, the fast growing importance of institutional investors is a key factor which helps to explain the changing attitude of managers towards shareholders and corporate governance. In conjunction with the German capital market, a wide variety of mismanagement in German public limited companies has revealed shortfalls of German top-management and corporate control in the last decade. This development was of fundamental importance for the development of the German Corporate Governance Code. Hence, the basic underlying of corporate governance can be attributed to a conflict between the management of a listed corporation and its owners. More precisely, this conflict arises because the management does not adequately comprise the interests of shareholders. In Germany, assets under management of professional investors have increased at 92 percent from 1990 to 2001.1 In addition, a growing administration of private savings by professional fund managers as well as the intensified exercise of influence by institutional investors on corporate governance and corporate management respectively corporate strategy is observable. Similarly, a growing importance of institutional investors could be observed in the United Kingdom as well as in the United States. Within academic literature, the issue of activism by institutional investors in Germany is analyzed little, so far. Furthermore, there are only a few surveys on the outcome of the influence by institutional investors on corporate management. Therefore, this thesis aims to answer the following questions: 1. How was the development of shareholder activism in Ger

Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.

Download or read book Portfolio Preferences of Foreign Institutional Investors written by Reena Aggarwal and published by World Bank Publications. This book was released on 2003 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Institutional Investors and Corporate Governance written by Theodor Baums and published by Walter de Gruyter. This book was released on 2011-05-02 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume contains 23 articles by international experts, both scholars and practioners dealing with the development of institutional investors (such as banks, insurances, investment companies, pension funds etc.), their investment and voting policies, the impact on managements of the companies concerned and related issues. The consequences of the international development on capital markets as well as policy implications for the respective national legislations are treated.

Download or read book The Changing Face of Corporate Ownership written by Michael J. Rubach and published by Routledge. This book was released on 2021-11-19 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2000. This book examines the shareholder activism of institutional investors and the effect of shareholder activism on portfolio performance. Institutional shareholder activism includes both traditional mechanisms of influence (e.g., filing shareholder proposals) and relationship investing (e.g., long-term interorganizational contacts between owners and a corporation’s top managers).

Download or read book Institutional Investors Corporate Ownership and Corporate Governance written by Stuart L. Gillan and published by . This book was released on 2002 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Influence of Institutional Shareholdings on Corporate Governance written by Peeriya Peerapongpipath and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional investors have high influence on capital market so that this research aims to examine the influence of institutional shareholdings on corporate governance (CG) of the listed companies on the Stock Exchange of Thailand in the SET 100. Institutional shareholdings were categorized into four types as follows: 1. commercial banks, mutual funds, insurance companies, and securities public companies in Thailand (FIBTMF), 2. government agencies and state enterprises of Thailand (FIGV), 3. Foreign banks (FIBF), and 4. International investors (FIIN). The CG was measured by the CG scoring of Thai Institute of Directors Association (IOD). The study period covered 2013 to 2017. In addition, the data were analyzed by logistic regression analysis, separated into two models: the first model investigated overall institutional investors toward CG; whilst, the second model examined the four categories of institutional investors as earlier mentioned. As a result, the study revealed that the overall institutional investors had statistically positive influence on the CG at 0.05 level of significance. The second model exposed that government agencies and state enterprises of Thailand as well as international investors had statistically positive impact on the CG at 0.05 and 0.10 level of significance, respectively. Therefore, this research implied the important role of institutional investors toward the CG.

Download or read book The Rise of Fiduciary Capitalism written by James P. Hawley and published by University of Pennsylvania Press. This book was released on 2000-10-06 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces the rise of public and private pension funds, which now control as much as 50 percent of the equity in American corporations, and argues that shareholders in those funds could use their power to make corporations more responsive to social needs.

Download or read book Investor Capitalism written by Michael Useem and published by Basic Books. This book was released on 1999-02-05 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: A behind-the-scenes look at today's kingmakers: institutional investors. Out of the public eye, a small group of professionals--investment experts who handle other people's monies--are exerting ever-greater control over corporate managers, firing CEOs and pushing through 'restructurings' that cost thousands of jobs. Michael Useem's "Investor Capitalism" portrays the quiet, veiled nature of this dance of elephants, and portrays the enormous implications of its results. --John Rekenthaler, Publisher, Morningstar, Inc.

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 Influence of Institutional Investors on Firm Value written by Yong Seung Lee and published by . This book was released on 2013 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of corporate governance on firm value has been extensively debated by academics and business practitioners. Some studies show that companies that allow minority shareholders to have more control are likely to create greater shareholder value than those firms with concentrated control, while other studies suggest that the impact of having democratic governance is either negligible or even negative. In developed countries institutional investors have a significant stake in most of the companies. Active engagement by institutional investors is expected to decrease agency costs by strengthening monitoring mechanisms of operations and performance evaluations of the management, resulting in an increase in firm value. However, some academics and business practitioners argue that such minority shareholders' active engagement could be detrimental to firm value. In this thesis, I study the influence of institutional investors' active shareholder engagement on firm value and the relationship between the characteristics of corporate governance and firm value of target companies. I review previous studies that have evaluated both the effect of corporate governance and of institutional investors' activism on firm value. I conduct empirical analyses to examine the relationship between the institutions' shareholder engagement and firm value.

Download or read book Institutional Shareholder Activism written by Michael J. Rubach and published by Taylor & Francis. This book was released on 1999 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

Download or read book The Impact of Institutional Investors on Corporate Governance Takeovers and the Capital Markets written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities and published by . This book was released on 1990 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Role of Institutional Investors in Corporate Governance written by P. Nix and published by Springer. This book was released on 2013-07-12 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: What role do independent institutional investors play in the corporate governance of listed German companies? The authors provide insight into an empirical and qualitative research study, exploring the importance of communication and the role, independence and expertise, responsibilities, influence and monitoring of institutional investors.

Download or read book Corporate Governance Matters written by David Larcker and published by FT Press. This book was released on 2011-04-14 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions.

Download or read book Institutional Shareholders and Corporate Governance written by Geof P. Stapledon and published by . This book was released on 1996 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: