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英国金融类(uk)投资公司治理评估分析报告写作需求-金融学essay ASSESSED WORK

留学生金融学essay BEA 3006: ASSESSED WORK:

Autumn Term, 2010-11

Essay: (20% of total module assessment).

Submission Deadline: 29 November 2010 by 3.00 pm.

Emphasising the role that institutional shareholders can proactively play in promoting good governance among listed companies, The Walker Review on the role of corporate governance in the banking crisis, says that,: ‘Early initiative under the rubric of preventive medicine will in many cases save substantial time and money at a later stage’ Walker Review, Section 5.29 p. 70.


Critically evaluate this statement in the light of empirical evidence on shareholder activism in the UK and elsewhere, like the US. Also, comment on whether you think the latest Stewardship Code for institutional investors is likely to be effective in increasing shareholder engagement and good governance in the investee companies in UK.

Total essay length: 1500-2000 words max.

Suggested Approach to Essay:

You could start by defining what shareholder activism is and what it encompasses; then talk about the various types of shareholders, their modes of engagement, evidence on shareholder activism, concluding with a discussion on the likely effectiveness of the Stewardship Code and its recommendations for improving governance of companies.

Some Suggested References:

Solomon (2010), relevant chapter

Kim and Nofsinger (3rd edition), relevant chapter

Black, B and Coffee, J (1998) Hail Brittania: Institutional investor behaviour under limited regulation, Michigan Law Review, 92

Gillan, S and Starks, L. (1998) Survey of shareholder activism: motivation and empirical evidence, Contemporary Finance Digest, (Autumn, 1998) 2, 3 10-34

Kahan, M and Rock, E.B (2007), Hedge funds in corporate governance and corporate control, University of Pennsylvania Law Review, 155, 5

Not more regulation…..more responsibility, Independent on Sunday, 25 October 2009

In-depth corporate governance – investors show poor attendance record, FT Business, 9 November 2009

Financial: Investors get tough over bosses' tax deals: ABI move comes as 50p rate is introduced in April: Shareholder body also warns over stock awards, The Guardian (London) - Final Edition, January 9, 2010

Between the Lines: Empowering shareholders is long-term answer to short-termism The Scotsman, December 2, 2009, Wednesday, Pg. 4,

This list is only indicative and does not by any chance preclude the use of further material.




1. Shareholder activism resource



LENGTH: 1513 words

A S THE annual general meeting season gets under way next month, board directors may rightly be more nervous than usual about their ritual bun-fight with investors. The banking crisis has prompted a fresh wave of boardroom scrutiny, with government-led calls for shareholders and non-executive directors to sharpen their teeth. Regulators are currently consulting on a raft of changes including a new stewardship duty on institutional investors to play a more active role as business owners; new powers for non-executives to monitor risk and remuneration; and allowing shareholders to put whole boards or their chairmen up for reelection annually.

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