Global Shareholder Stewardship
Editat de Dionysia Katelouzou, Dan W. Puchniaken Limba Engleză Hardback – 11 mai 2022
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Specificații
ISBN-13: 9781108843102
ISBN-10: 1108843107
Pagini: 520
Dimensiuni: 184 x 262 x 40 mm
Greutate: 1.46 kg
Ediția:Nouă
Editura: Cambridge University Press
Colecția Cambridge University Press
Locul publicării:Cambridge, United Kingdom
ISBN-10: 1108843107
Pagini: 520
Dimensiuni: 184 x 262 x 40 mm
Greutate: 1.46 kg
Ediția:Nouă
Editura: Cambridge University Press
Colecția Cambridge University Press
Locul publicării:Cambridge, United Kingdom
Cuprins
Part I. Foundations: 1. Global shareholder stewardship: complexities, challenges, and possibilities Dionysia Katelouzou and Dan W. Puchniak; 2. The UK stewardship code 2010–2020: from saving the company to saving the planet? Paul Davies; 3. The market for stewardship and the role of the government Dionysia Katelouzou and Eva Micheler; Part II. Jurisdictions: 4. Shareholder stewardship in the Netherlands: the role of institutional investors in a stakeholder-oriented jurisdiction Christoph Van der Elst and Anne Lafarre; 5. Capitalist stakeholders: shareholder stewardship in Switzerland Daniel Daeniker and Gérard Hertig; 6. Institutional investor stewardship in Italian corporate governance Giovanni Strampelli; 7. The Danish stewardship code – the past, the present and the future Hanne S. Birkmose and Marina B. Madsen; 8. Stewardship Norwegian-style: fragmented and state-dominated (but not without potential?) Jukka Mähönen, Beate Sjåfjell and Monica Mee; 9. Stewardship and shareholder engagement in Germany Wolf-Georg Ringe; 10. The Japanese stewardship code: its resemblance and non-resemblance to the UK code Gen Goto; 11. Korea's stewardship code and the rise of shareholder activism: agency problems and government stewardship revealed Sang Yop Kang and Kyung-Hoon Chun; 12. The assessment of Taiwan's shareholder stewardship codes: from international stewardship principle to alternative good stewardship Andrew Jen-Guang Lin; 13. Stewardship in the Hong Kong international financial centre: adding 'responsible owners' to an entrepreneurial market David C. Donald; 14. Singapore's embrace of shareholder stewardship: a puzzling success Dan W. Puchniak and Samantha S. Tang; 15. Institutional investor stewardship in Malaysia: code, context and challenges Petrina Tan Tjin Yi; 16. The Thai institutional investors stewardship code and its implementation Patanaporn Kowpatanakit and Piyabutr Bunaramrueang; 17. Shareholder stewardship in India: the Desiderata Umakanth Varottil; 18. Institutional investors in China: an autochthonous mechanism unrelated to UK-cum-global stewardship Dan W. Puchniak and Lin Lin; 19. Stewardship and collective action: the Australian experience Tim Bowley and Jennifer G. Hill; 20. Stewardship principles in Canada Cynthia A. Williams; 21. The uncertain stewardship potential of index funds Jill Fisch; 22. Encouraging sustainable investment in South Africa: CRISA and beyond Natania Locke; 23. Stewardship code in Kenya: just a code or something more? Austin Ouko; 24. The Brazilian stewardship framework Bruno Bastos Becker, Rafael Andrade and Viviane Muller Prado; Part III: Comparisons: 25. Investment management, stewardship and corporate governance roles Roger M. Barker and Iris H-Y Chiu; 26. Sustainable finance and stewardship: unlocking stewardship's sustainability potential Dionysia Katelouzou and Alice Klettner; 27. Shareholder stewardship enforcement Dionysia Katelouzou and Konstantinos Sergakis; 28. Can a global legal misfit be fixed? Shareholder stewardship in a controlling shareholder and ESG world Ernest Lim and Dan W. Puchniak; 29. Shareholder stewardship in Asia: functional diversity within superficial formal convergence Alan K. Koh, Dan W. Puchniak and Gen Goto; 30. The global diffusion of stewardship codes Dionysia Katelouzou and Mathias Siems.
Recenzii
'Institutional investors face growing pressure to assume 'stewardship' responsibilities through engagement with portfolio companies; 'stewardship codes' have proliferated. This superbly imagined and edited volume demonstrates that the contours of 'stewardship' vary widely throughout the world, depending on the persistence of controlling owners and different government efforts to deploy 'stewardship' in pursuit of various economic and political objectives. The book is essential reading for those seeking to understand the evolving pattern of global corporate governance.' Jeffrey N. Gordon, Richard Paul Richman Professor of Law, Columbia Law School
'This book is a goldmine of information on, and insights into, one of the most important phenomena of contemporary corporate governance: shareholder stewardship. It combines an impressive number of chapters reporting about stewardship and the related soft (and, increasingly, hard) law in individual jurisdictions with a variety of sharp and profound theoretical and comparative analyses of responsible ownership and its implications for listed companies, investors and other stakeholders.' Luca Enriques, Professor of Corporate Law, Faculty of Law, University of Oxford
'An amazing book fully canvassing global shareholder stewardship. The forty-two authors go well beyond the twenty excellent country reports. They analyse the foundations – the UK Stewardship Code being the international model – and present thorough comparative essays covering topics such as corporate governance, sustainable finance, shareholder stewardship enforcement and ESG, as well as convergence and strong remaining path dependencies. A wealth of economic and legal information, to be bought and read!' Klaus Hopt, Emeritus Professor, Max Planck Institute of Comparative and International Private Law
'The first comprehensive and sophisticated attempt to examine the proliferation of stewardship codes in recent years, this book elucidates principal issues concerning shareholder stewardship, and at the same time reveals the subtle interaction between local corporate governance factors and the codes of individual jurisdictions. Those who aspire to achieve a mature understanding of this significant global phenomenon will find this admirable outcome of a large-scale international joint endeavour an indispensable source of reference.' Kon Sik Kim, Professor and Dean Emeritus, Seoul National University School of Law
'What if shareholders around the world are called to save companies, economies and the planet? In Global Shareholder Stewardship, an outstanding group of experts from a wide array of jurisdictions join forces to examine the spread of stewardship codes worldwide as the latest corporate governance trend. Refusing to take global diffusion at face value, the book digs into local manifestations of the phenomenon, unveiling remarkable diversity. A tour de force of comparative scholarship, it offers invaluable lessons for scholars and practitioners in corporate governance and transnational policymaking about the challenges and promises of adapting international developments to different national contexts.' Mariana Pargendler, Professor of Law at Fundação Getulio Vargas School of Law in São Paulo
'Global Shareholder Stewardship is a must-read for institutional investors with international portfolios. Its systematic analysis of stewardship code regulation in major capital markets will be of great value for practitioners. It also tackles critical questions such as the role of index funds and stewardship enforcement, and suggests ways to optimize the impact of stewardship. This is one of the books that will have a place on my desk.' Hans Christoph Hirt, Executive Director, Head of EOS, Federated Hermes
'Dionysia Katelouzou and Dan Puchniak have orchestrated a masterful study, covering a sample of countries from every inhabited continent, to which they add insightful conceptual analyses. Against a backdrop of genuine urgency in addressing global-scale social challenges, from environmental degradation to climate change, coupled with the emergence of mammoth-size institutional investors, this volume provides an invaluable resource for assessing whether these investors could play a role in addressing such challenges.' Amir Licht, Professor of Law, Harry Radzymer Law School, Reichman University
'Global Shareholder Stewardship is an excellent compendium of codes around the world today. The 2003 ICGN Statement on Institutional Shareholder Responsibilities clarified the important role of investors in holding companies to account for preserving and enhancing long-term sustainable value, ultimately contributing to strong economic growth, prosperous societies and a healthy environment. Nearly two decades later, this book confirms that stewardship is now mainstream and vital in global capital markets to mitigate risk, while also creating long-term sustainable value.' Kerrie Waring, Chief Executive Officer, International Corporate Governance Network (ICGN)
'This book does a remarkable job providing the first in-depth analysis of global shareholder stewardship. The skill, diversity, and creativity of its contributors – combined with its thoughtful curation and insightful comparative theories – is why this book is destined to be the leading authority in the field. It is a must read for anyone interested in the regulation of financial markets, institutional investors, or corporate governance.' Marco Becht, Professor of Finance and the Goldschmidt Professor of Corporate Governance, Solvay Brussels School; Executive Director, European Corporate Governance Institute (ECGI)
'This book is a goldmine of information on, and insights into, one of the most important phenomena of contemporary corporate governance: shareholder stewardship. It combines an impressive number of chapters reporting about stewardship and the related soft (and, increasingly, hard) law in individual jurisdictions with a variety of sharp and profound theoretical and comparative analyses of responsible ownership and its implications for listed companies, investors and other stakeholders.' Luca Enriques, Professor of Corporate Law, Faculty of Law, University of Oxford
'An amazing book fully canvassing global shareholder stewardship. The forty-two authors go well beyond the twenty excellent country reports. They analyse the foundations – the UK Stewardship Code being the international model – and present thorough comparative essays covering topics such as corporate governance, sustainable finance, shareholder stewardship enforcement and ESG, as well as convergence and strong remaining path dependencies. A wealth of economic and legal information, to be bought and read!' Klaus Hopt, Emeritus Professor, Max Planck Institute of Comparative and International Private Law
'The first comprehensive and sophisticated attempt to examine the proliferation of stewardship codes in recent years, this book elucidates principal issues concerning shareholder stewardship, and at the same time reveals the subtle interaction between local corporate governance factors and the codes of individual jurisdictions. Those who aspire to achieve a mature understanding of this significant global phenomenon will find this admirable outcome of a large-scale international joint endeavour an indispensable source of reference.' Kon Sik Kim, Professor and Dean Emeritus, Seoul National University School of Law
'What if shareholders around the world are called to save companies, economies and the planet? In Global Shareholder Stewardship, an outstanding group of experts from a wide array of jurisdictions join forces to examine the spread of stewardship codes worldwide as the latest corporate governance trend. Refusing to take global diffusion at face value, the book digs into local manifestations of the phenomenon, unveiling remarkable diversity. A tour de force of comparative scholarship, it offers invaluable lessons for scholars and practitioners in corporate governance and transnational policymaking about the challenges and promises of adapting international developments to different national contexts.' Mariana Pargendler, Professor of Law at Fundação Getulio Vargas School of Law in São Paulo
'Global Shareholder Stewardship is a must-read for institutional investors with international portfolios. Its systematic analysis of stewardship code regulation in major capital markets will be of great value for practitioners. It also tackles critical questions such as the role of index funds and stewardship enforcement, and suggests ways to optimize the impact of stewardship. This is one of the books that will have a place on my desk.' Hans Christoph Hirt, Executive Director, Head of EOS, Federated Hermes
'Dionysia Katelouzou and Dan Puchniak have orchestrated a masterful study, covering a sample of countries from every inhabited continent, to which they add insightful conceptual analyses. Against a backdrop of genuine urgency in addressing global-scale social challenges, from environmental degradation to climate change, coupled with the emergence of mammoth-size institutional investors, this volume provides an invaluable resource for assessing whether these investors could play a role in addressing such challenges.' Amir Licht, Professor of Law, Harry Radzymer Law School, Reichman University
'Global Shareholder Stewardship is an excellent compendium of codes around the world today. The 2003 ICGN Statement on Institutional Shareholder Responsibilities clarified the important role of investors in holding companies to account for preserving and enhancing long-term sustainable value, ultimately contributing to strong economic growth, prosperous societies and a healthy environment. Nearly two decades later, this book confirms that stewardship is now mainstream and vital in global capital markets to mitigate risk, while also creating long-term sustainable value.' Kerrie Waring, Chief Executive Officer, International Corporate Governance Network (ICGN)
'This book does a remarkable job providing the first in-depth analysis of global shareholder stewardship. The skill, diversity, and creativity of its contributors – combined with its thoughtful curation and insightful comparative theories – is why this book is destined to be the leading authority in the field. It is a must read for anyone interested in the regulation of financial markets, institutional investors, or corporate governance.' Marco Becht, Professor of Finance and the Goldschmidt Professor of Corporate Governance, Solvay Brussels School; Executive Director, European Corporate Governance Institute (ECGI)
Descriere
The first in-depth comparative analysis of shareholder stewardship, which reveals the complexities of this global movement that were previously unknown.