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The Foundations and Anatomy of Shareholder Activism (Hardcover)
Loot Price: R3,558
Discovery Miles 35 580
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The Foundations and Anatomy of Shareholder Activism (Hardcover)
Series: Contemporary Studies in Corporate Law
Expected to ship within 10 - 15 working days
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This comprehensive and comparative study examines the landscape of
contemporary shareholder activism in the UK, focusing on minority
shareholder activism in publicly listed companies. It argues that
contemporary shareholder activism in the UK is dominated by two
groups: the institutional shareholders whose shareholder activism
is largely seen as a driving force for good corporate governance,
and 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 critically discusses the
nature of, motivations for, and consequences of 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. It will be of interest
to policy-makers, academics, and post-graduate students studying
corporate governance and corporate law.
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