Johnston, Andrew (2023) From universal owners to hedge funds and indexers : will stewardship drive long-termism and sustainability? In: Chiu, Iris H -Y. and Hirt, Hans C., (eds.) Investment management, stewardship and sustainability : transformation and challenges in law and regulation. Contemporary studies in corporate law . Oxford: Hart Publishing Ltd. (Bloomsbury). ISBN 9781509953752
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Abstract
Policy-makers in the UK have, since the early 1970s at least, sought to encourage institutional investors (IIs) to engage with investee companies. This policy has remained remarkably consistent considering the shifting challenges confronting both corporate governance and wider society, as well as the significant changes in the structure of institutional investment over the last 50 years. If anything, the demands made of shareholders have only increased, with the UK’s post-global financial crisis Stewardship Code variously expecting large shareholders to: steer companies towards ‘long-term returns to shareholders’; ‘promote the long term success of companies in such a way that the ultimate providers of capital also prosper’; and, most recently, ‘create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society’.
| Item Type: | Book Item |
|---|---|
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Faculty of Social Sciences > School of Law |
| Library of Congress Subject Headings (LCSH): | Stockholders' voting, Stockholders, Social responsibility of business, Corporate governance, Sustainable development |
| Series Name: | Contemporary studies in corporate law |
| Publisher: | Hart Publishing Ltd. (Bloomsbury) |
| Place of Publication: | Oxford |
| ISBN: | 9781509953752 |
| Book Title: | Investment management, stewardship and sustainability : transformation and challenges in law and regulation |
| Editor: | Chiu, Iris H -Y. and Hirt, Hans C. |
| Official Date: | 9 February 2023 |
| Dates: | Date Event 9 February 2023 Published 19 September 2022 Accepted |
| Number of Pages: | 496 |
| Status: | Peer Reviewed |
| Publication Status: | Forthcoming |
| Access rights to Published version: | Restricted or Subscription Access |
| Date of first compliant deposit: | 14 October 2022 |
| Date of first compliant Open Access: | 9 August 2023 |
| Related URLs: | |
| URI: | https://wrap.warwick.ac.uk/170154/ |
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