Download or read book The Power of Shareholder Activism A Force for Change in Corporate Governance written by and published by GRIN Verlag. This book was released on 2024-02-09 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2024 in the subject Business economics - Investment and Finance, grade: 1.0, University of Rome "La Sapienza" (Economics), language: English, abstract: This master thesis endeavors to scrutinize the efficacy of shareholder activism as a governance mechanism. Drawing upon existing research, it seeks to unravel the intricacies of this phenomenon, spanning its definitions, historical evolution, and diverse manifestations. The thesis will delve into the challenges posed by active shareholders, including the free rider problem, agency conflicts, and the contentious realm of proxy fights. Additionally, it will conduct a comprehensive exploration of the motivations driving shareholder activism, encompassing economic incentives, moral imperatives, and the burgeoning influence of Environmental, Social, and Governance (ESG) considerations. Real-world case studies, such as the Shell vs. ClientEarth dispute, will be dissected to illuminate the practical implications of shareholder activism. Furthermore, the dynamics of investor relations, the tactics deployed by activist shareholders, and their tangible impact on corporate governance will be rigorously examined. In conclusion, this thesis endeavors to offer illuminating insights into the intricate interplay of power, responsibility, and influence within modern corporate governance. As companies navigate the evolving nexus of profit-making and social responsibility, understanding the role and impact of active shareholders assumes paramount importance. Through rigorous analysis and nuanced interpretation, this thesis aims to contribute to a deeper comprehension of the multifaceted phenomenon of shareholder activism.

Download or read book Research Handbook on Shareholder Power written by Jennifer G. Hill and published by Edward Elgar Publishing. This book was released on 2015-07-31 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the history of corporate law has concerned itself not with shareholder power, but rather with its absence. Recent shifts in capital market structure require a reassessment of the role and power of shareholders. These original, specially commiss

Download or read book Shareholder Activism written by Nils Krause and published by Walter de Gruyter. This book was released on 2017-03-20 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years shareholder activism has increased, becoming a more mainstream way of pressuring companies to effect certain changes to maximize shareholder value. The current economic market and the resulting scrutiny surrounding management's ability to effectively lead a company have resulted in an increasing awareness of corporate governance issues. As more activists make their agendas publicy known, management and corporate advisors, as well as shareholders, are becoming better equipped to handle such challenges.

Download or read book The Oxford Handbook of Corporate Law and Governance written by Jeffrey Neil Gordon and published by Oxford University Press. This book was released on 2018 with total page 1217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.

Download or read book The Foundations and Anatomy of Shareholder Activism written by Iris H-Y Chiu and published by Bloomsbury Publishing. This book was released on 2010-10-12 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Foundations and Anatomy of Shareholder Activism examines the landscape of contemporary shareholder activism in the UK. The book focuses on minority shareholder activism in publicly listed companies. It argues that contemporary shareholder activism in the UK is dominated by two groups; one, the institutional shareholders whose shareholder activism is largely seen as a driving force for good corporate governance, and two, the hedge funds whose shareholder activism is based on value extraction and exit. The book provides a detailed examination of both types of shareholder activism, and discusses critically the nature of, motivations for and consequences following both types of shareholder activism. The book then locates both types of shareholder activism in the theory of the company and the fabric of company law, and argues that institutional shareholder activism based on exercising a voice at general meetings is well supported in theory and law. The call for institutions to engage in more informal forms of activism in the name of 'stewardship' may bring about challenges to the current patterns of activism that institutions engage in. The book argues, however, that a more cautious view of hedge fund activism and the pattern of value extraction and exit should be taken. More empirical evidence is likely to be necessary, however, to weigh up the long terms benefits and costs of hedge fund activism.

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 Hedge Fund Activism written by Alon Brav and published by Now Publishers Inc. This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

Download or read book Shareholder Activism and the Law written by Ekrem Solak and published by Routledge. This book was released on 2020-05-04 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a complete framework for contemporary shareholder activism and its implications for US corporate governance, which is based on director primacy theory. Under director primacy theory, shareholders do not wish to be involved in the management of the company; in the rare event that they wish to be involved, it is considered a transfer of power from the board of directors to shareholders, which in turn reduces the efficiency of centralised decision-making in public companies. However, this book demonstrates that shareholders do not use their power to transfer corporate control from the board to themselves, and that some form of shareholder activism is even collaborative, which is a new paradigm for US corporate governance. This book shows that while monitoring remains a key contribution of shareholders, they also bring new informational inputs to corporate decision-making that could not be obtained under the traditional board model. Accordingly, contemporary shareholder activism enhances the board’s decision-making and monitoring capacity, without undermining the economic value of the board's authority. Therefore, this book argues that the complete approach of contemporary shareholder activism should be accommodated into US corporate governance. In doing so, this book considers not only legal and regulatory developments in the wake of the 2007–2008 financial crisis, but also the governance developments through by-law amendments. Furthermore, the author makes several recommendations to soften the current director primacy model: establishing a level playing field for private ordering, adopting the proxy access default regime, the majority voting rule, the universal proxy rules, and enhancing the disclosure requirements of shareholders. The book will be of interest to academics and students of corporate governance, both in the US and internationally.

Download or read book The Evolution of Shareholder Activism in the United States written by Stuart Gillan and published by . This book was released on 2007 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1900's American financial institutions were active participants in U.S. corporate governance but the enactment of securities laws in the 1930's limited the power of financial intermediaries and thus their governance role. The consequence of such laws and regulations was a progressive widening of the gap between ownership and control in large U.S. public companies. In 1942, SEC rule changes allowed shareholders to submit proposals for inclusion on corporate ballots. Since that time, shareholder activists have used the proxy process, and other approaches, to pressure corporate boards and managers for change. In particular, during the mid-1980s, the involvement of large institutional shareholders increased dramatically with the advent of public pension fund activism. At the heart of shareholder activism is the quest for value, yet the empirical evidence suggests that effects of such activism are mixed. We review the evidence on activism and, while some studies have found positive short-term market reactions to announcements of certain kinds of activism, there is little evidence of improvement in the long-term operating or stock-market performance of the targeted companies. A recent increase in hedge fund activism appears to be associated with dramatic corporate change, however, the research in this area is still somewhat nascent and the long-term effects are still unknown.

Download or read book Shareholder Driven Corporate Governance written by Anita Anand and published by . This book was released on 2018 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines prevailing conceptions of the corporation in light of developments in corporate governance since the introduction of the United States Sarbanes-Oxley Act in 2002 and the global financial crisis (GFC) of 2008. In particular, its purpose is to explore the perplexing question of the extent to which corporations are beholden to the will of their shareholders. Thus, this book takes into account the practical realities that public corporations face, including increasingly complex legal regimes, shareholder activists and volatile capital markets. In recent years, shareholders have asserted more and more control over public corporations, no longer content to play the part of the passive owner. Perhaps in response to this pressure, legislators and regulators have grappled with the question of what protections shareholders should be afforded, particularly in the decade since the GFC. This shift in attitude by investors and regulators alike invites scholars to revisit the nature of the relationship between shareholder and corporation, and to ask what role the law should play in affirming shareholders' ability to influence corporate governance.This book introduces a new concept called "Shareholder-driven Corporate Governance," or SCG. This term refers to an approach to understanding the corporation that seeks to protect shareholders' interests while also affirming their involvement in governance. It refers to both actual and potential governance strategies. SCG is a normative term in the sense that it presents a goal to which lawmakers (not to mention investors) may aspire. It is also a descriptive term, explaining the ongoing phenomenon of a shifting balance of power that increasingly accommodates shareholder participation in corporate decision-making. In exploring both positive questions and normative, aspirational issues relating to SCG, this book examines the rise of shareholder activism across multiple jurisdictions including the United States, United Kingdom and Canada. In these jurisdictions, members of boards of directors have fiduciary duties, but the following questions arise: how should these duties be discharged in an age of shareholder activism? Does SCG change historical and current analyses of boards' fiduciary duties? Should SCG impact law reform efforts? These broad questions lead to a consideration of three themes, which illustrate the importance of SCG and which are at the heart of this re-examination.

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 Shareholder Activism Handbook written by Jay W. Eisenhofer and published by Wolters Kluwer. This book was released on 2005-01-01 with total page 1458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shareholder Activism Handbook is the single most comprehensive guide on all matters relating to enforcing shareholders' rights. As shareholder activism becomes a more integral part of investing, the law continues to respond accordingly. Legislators

Download or read book Hedge Fund Activism in Japan written by John Buchanan and published by Cambridge University Press. This book was released on 2012-05-24 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedge fund activism is an expression of shareholder primacy, an idea that has come to dominate discussion of corporate governance theory and practice worldwide over the past two decades. This book provides a thorough examination of public and often confrontational hedge fund activism in Japan in the period between 2001 and the full onset of the global financial crisis in 2008. In Japan this shareholder-centric conception of the company espoused by activist hedge funds clashed with the alternative Japanese conception of the company as an enduring organisation or a 'community'. By analysing this clash, the book derives a fresh view of the practices underpinning corporate governance in Japan and offers suggestions regarding the validity of the shareholder primacy ideas currently at the heart of US and UK beliefs about the purpose of the firm.

Download or read book Shareholder Democracy written by Lisa M. Fairfax and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a succinct, practical guide for understanding what some have referred to as shareholder democracy--efforts to facilitate and increase shareholder voting power within the corporation. In the past few years there has been a surge in shareholder activism that has had a profound impact on the corporation. Shareholders and other activists have sought to increase shareholders' voting power within the corporation based largely on the belief that increasing shareholder power will increase director and officer accountability, thereby helping to curb corporate misconduct and improve corporate performance. However, there is intense debate regarding whether increased shareholder power can achieve such objectives and whether increased shareholder power will negatively impact the corporation. This book is the first to provide a concise, but comprehensive look at the various ways in which shareholders have sought to enhance their voting power and influence within the corporation. In addition to examining shareholder activism, this book highlights and analyzes the debate regarding the propriety of increased shareholder power. This book also analyzes the impact of recent developments aimed at facilitating shareholder power such as majority voting, say on pay, and proxy access. This book will serve as a useful tool not only for those who desire a straight-forward analysis of shareholder rights and activism, but also for those seeking a reference guide on an issue of growing importance to corporate law and corporate governance.

Download or read book Shareholder Activism in the UK written by Posi Olatubosun and published by De Gruyter Oldenbourg. This book was released on 2020-06 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides researchers with vital information that will deepen their understanding of UK shareholder activism and ownership discourse based on research carried out over a six-year period proceeding from reviews of archival resources, interviews with asset owners such as hedge funds, sovereign wealth funds, pension funds, mutual funds and individual investors, as well as proxy advisors.

Download or read book Institutional Investors Power to Change Corporate Behavior written by Suzanne Young and published by Emerald Group Publishing. This book was released on 2013-10-24 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional Investors' Power to Change Corporate Behavior

Download or read book The Wolf at the Door written by John C. Coffee and published by . This book was released on 2016-02-10 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Wolf at the Door: The Impact of Hedge Fund Activism on Corporate Governance has three basic aims: to understand and explain the factors that have caused an explosion in hedge fund activism; to examine the impact of this activism; and to survey and evaluate possible legal interventions with an emphasis on the least restrictive alternative.