Investor Engagement
By:Roderick Martin,Peter D. Casson,Tahir M. Nisar
Published on 2007-07-05 by OUP Oxford
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.
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Book ID of Investor Engagement's Books is _p73saWm6qAC, Book which was written byRoderick Martin,Peter D. Casson,Tahir M. Nisarhave ETAG "X+LWNMd5SG4"
Book which was published by OUP Oxford since 2007-07-05 have ISBNs, ISBN 13 Code is 9780191607059 and ISBN 10 Code is 0191607053
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Book which have "238 Pages" is Printed at BOOK under CategoryBusiness and Economics
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