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Corporate Governance and Investment Management: The Promises and Limitations of the New Financial Economy

Corporate Governance and Investment Management: The Promises and Limitations of the New Financial Economy

Author: Roger M. Barker; Iris H.-Y. Chiu
Publisher: Edward Elgar Publishing
ISBN: 9781784713515
Published In: December 2017
Format: Hardback
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

Shareholder engagement with publicly listed companies is often seen as a key means to monitor corporate performance and behavior. In this book, the authors examine the corporate governance roles of key institutional investors in UK corporate equity, including pension funds, insurance companies, collective investment funds, hedge and private equity funds and sovereign wealth funds.

The authors argue that institutions' corporate governance roles are an instrument ultimately shaped by private interests and market forces, as well as law and regulatory obligations, and that policy-makers should not readily make assumptions regarding their effectiveness, or their alignment with public interest or social good. They critically discuss the possibilities and limitations of shareholder stewardship i.e. the UK Stewardship Code and the EU Shareholder Rights Directive 2017 as well as explore various reforms of the UK pension fund structures, including the Local Government Pension Funds reform, the move from defined benefit to defined contribution schemes and implications for funds' asset allocation, investment management and corporate governance roles.

This book will be of interest to academics in corporate law and governance as well as those in the corporate governance industry, such as institutions, trade associations, proxy advisors and other corporate governance service providers. Think tanks and research institutes tied to institutional investment, corporate governance, law and business may also be a key audience.
Introduction
1. Investment Funds in an Era of Financialisation
2. The Governance, Structures and Incentives of Investment Funds- Shaping a Model of Modern Investment Management
3. Corporate Equity Ownership and the Misplaced Hope in Institutional Shareholder Stewardship
4. Pension Funds as Corporate Governance Actors
5. Mutual Funds as Corporate Governance Actors
6. Hedge Funds as Corporate Governance Actors
7. Private Equity Funds and their Corporate Governance Roles
8. Sovereign Wealth Funds in Corporate Governance Roles
9. Conclusion: Beyond Shareholder Stewardship: Visions for Responsible Investment Management and a New Corporate Governance
Index