Hardback
Corporate Governance and Investment Management
新金融经济的承诺和局限性
9781784713515 爱德华·埃尔加出版社
股东与公开上市公司的互动通常被视为监控公司渎职行为的关键手段。在本书中，作者研究了英国公司股本主要机构投资者的公司治理角色，包括养老基金，保险公司，集体投资基金，对冲和私募股权基金以及主权财富基金。They 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.
More Information
备受好评
内容
More Information
股东与公开上市公司的互动通常被视为监控公司绩效和行为的关键手段。在本书中，作者研究了英国公司股本主要机构投资者的公司治理角色，包括养老基金，保险公司，集体投资基金，对冲和私募股权基金以及主权财富基金。
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 policymakers 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.
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 policymakers 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.
备受好评
‘由于其总投票权，机构投资者可以控制美国和英国的许多上市公司。他们可以可靠地支持并鼓励那些公司的长期价值创造吗？Barker和Chiu的书不仅提供了回答这个基本问题的法律框架，而且还提供了关于金融资本主义模型缺点的鲜明而令人沮丧的草图。学术界，政策制定者和其他有关读者会在这里发现很多食物，以应对这一资本主义阶段的挑战和影响。’
- 英国牛津大学Luca Enriques
‘在这本洞察力的新书中，作者对现代资产管理进行了广泛的分析，并强调了其作为企业权益所有者越来越有影响力的作用。他们对行业在投资公司中履行有意义的管理角色的能力的怀疑可能会证明有先见之明，并应告知当前有关公司治理的政策辩论。’
– Andrew Clare, Cass Business School, UK
‘In this thought-provoking and much-needed work, Barker and Chiu cast an informed and critical eye over the investment and governance practices of institutional fund managers, together with the limitations of the applicable regulatory framework. In doing so, they highlight the impracticability of many of the expectations that have been placed on the sector over recent years, before setting out an alternative normative paradigm for future public policymaking in this field. This book is a must-read not just for scholars and students of corporate governance and financial market regulation, but also for policymakers in search of a fresh handle on a difficult current problem.’
– Marc Moore, University of Cambridge, UK
- 英国牛津大学Luca Enriques
‘在这本洞察力的新书中，作者对现代资产管理进行了广泛的分析，并强调了其作为企业权益所有者越来越有影响力的作用。他们对行业在投资公司中履行有意义的管理角色的能力的怀疑可能会证明有先见之明，并应告知当前有关公司治理的政策辩论。’
– Andrew Clare, Cass Business School, UK
‘In this thought-provoking and much-needed work, Barker and Chiu cast an informed and critical eye over the investment and governance practices of institutional fund managers, together with the limitations of the applicable regulatory framework. In doing so, they highlight the impracticability of many of the expectations that have been placed on the sector over recent years, before setting out an alternative normative paradigm for future public policymaking in this field. This book is a must-read not just for scholars and students of corporate governance and financial market regulation, but also for policymakers in search of a fresh handle on a difficult current problem.’
– Marc Moore, University of Cambridge, UK
内容
内容: 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
