Global Shareholder Stewardship

The first in-depth comparative analysis of shareholder stewardship, which reveals the complexities of this global movement that were previously unknown.

This is the first in-depth comparative and empirical analysis of shareholder stewardship, revealing the previously unknown complexities of this global movement. It highlights the role of institutional investors and other shareholders, examining how they use their formal and informal power to influence companies. The book includes an in-depth chapter on every jurisdiction which has adopted a stewardship code and an analysis of stewardship in the world's two largest economies which have yet to adopt a code. Several comparative chapters draw on the rich body of jurisdiction-specific analyses, to analyze stewardship comparatively from multiple interdisciplinary perspectives. Ultimately, this book provides a cutting-edge and comprehensive understanding of shareholder stewardship which challenges existing theories and informs many of the most important debates in comparative corporate law and governance.

The recent failures of Enron, WorldCom, and other large publicly traded corporations have catapulted the issue of corporate governance onto the international stage. In this timely book, Janis Sarra draws together the work of legal scholars and practitioners from across North America to provide a comprehensive analysis of corporate governance issues in global capital markets. The contributors to this collection explore the theoretical underpinnings of corporate governance and provide concrete illustration of different models and their outcomes. While the perspectives of the authors sometimes differ, their common project is to explore different normative conceptions of the corporation in order to contribute to an analysis of global trends in corporate governance.

Climate- and ESG-competent boards are in high demand by investors and other stakeholders. In fact, climate change and other environmental, social, and governance (ESG) issues have become some of the biggest challenges faced by 21st-century board directors. Today's boards must contend with a wide range of stakeholders who can affect the fortunes of a company--customers, suppliers, employees, shareholders, politicians, activists, and social-media influencers, among others.This book demonstrates that for long-term profits and sustainability, boards need to not only define the purpose of their company in society but have the insight to ask the right questions of management on complex issues such as climate change, ESG, corruption, cybersecurity, human trafficking, supply-chain resilience, and much more.With insightful contributions from over one hundred world experts, this book provides board members and executives with a practical guide on what is required today to develop thriving, future-fit organizations. The insights shared in this book have one common message: the companies with the best chance of surviving and thriving will be guided by leaders with the foresight, knowledge, and determination to tackle the daunting challenges that confront all of humankind.

It is apparent that environmental issues affect the livelihoods and well being of individuals, communities and businesses the world over. In that vein, this book examines the impact that climate change and other environmental factors have on business. The effect of climate change, while a significant factor, will influence business slowly, but inexorably. Executives should manage environmental risk at three levels: regulatory compliance, potential liability from industrial accidents, and pollutant release mitigation.Companies that are proactive in mitigating their exposure to climate-change risks will not only generate new profitable opportunities, but also gain competitive advantage over their rivals in a carbon-constrained future. Enhancing Global Competitiveness through Sustainable Environmental Stewardship provides frameworks for identifying how climate change might affect a business, and suggests strategy guidelines to manage the risks and seek opportunities.This seminal collection of research will be of particular interest to students and scholars of sustainability studies, business and management, and business professionals concerned with the role they will play in the changing and challenging times that lie ahead for business growth and environmental consciousness.

Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

Based on extensive practical and academic experience this textbook explains how the real world of corporate governance works. It examines the historical development of corporate governance and uses worldwide examples to compare theoretical explanations with practical outcomes, providing a comprehensive review of how companies and markets are run.

When Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five-month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees’ Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd’s boardroom allies. In The Rise of the Working-Class Shareholder: Labor's Last Best Weapon, David Webber uses cases such as Safeway’s to shine a light on labor’s most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and under constant assault in Washington, state houses, and the courts, worker organizations are beginning to exercise muscle through markets. Shareholder activism has been used to divest from anti-labor companies, gun makers, and tobacco; diversify corporate boards; support Occupy Wall Street; force global warming onto the corporate agenda; create jobs; and challenge outlandish CEO pay. Webber argues that workers have found in labor’s capital a potent strategy against their exploiters. He explains the tactic’s surmountable difficulties even as he cautions that corporate interests are already working to deny labor’s access to this powerful and underused tool. The Rise of the Working-Class Shareholder is a rare good-news story for American workers, an opportunity hiding in plain sight. Combining legal rigor with inspiring narratives of labor victory, Webber shows how workers can wield their own capital to reclaim their strength.