Shareholder Ideology and Stewardship

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The Roundtable focused on the nature of governance interventions by institutional shareholders. Institutional investors have a conflict between promoting socially responsible behaviour of companies and shareholder value orientation at all cost. What can we learn from voting behaviour about “shareholder ideology”? How actively involved are institutional investors with portfolio companies? Do active managers take buy and sell decisions based on governance and stewardship information? Is there a link between sell decisions, voting and other types of governance intervention?

 

Organisers

Marco Becht, Solvay Brussels School, ECGI and CEPR

Luca Enriques, University of Oxford and ECGI

 

Programme Outline: 

15:00   Registration

15:15   Welcome – Hans Hirt, Executive Director, Hermes EOS

15:30   “Investor Ideology”[1] Patrick Bolton, Columbia Business School and ECGI

16:45   Tea/ Coffee

17:15   “How Active are Active Managers?” [2], Julian Franks, London Business School and ECGI

18:30   Concluding remarks – Marco Becht, Executive Director, ECGI

[2] Forthcoming ECGI working paper

 

Contact

Programme queries should be directed to Marco Becht (Marco.Becht@ecgi.org) or

Luca Enriques (luca.enriques@law.ox.ac.uk)

Practical queries should be directed to Elaine McPartian (elaine.mcpartlan@ecgi.org)

 

Participants:

Prof. Luca Enriques University of Oxford
Mr. John Plender Financial Times
Prof. Carlo Marchetti University of Milan
Prof. Marco Becht Solvay Brussels School
Mr. Mike Everett Aberdeen Standard Investments
Mr. Harlan Zimmerman Cevian Capital
Mr. David Shammai Morrow Sodali
Mr. Ola Peter K Gjessing Norges Bank Investment Management
Ms. Marion Chaboud Deloitte EUPC
Mr. Robbert Gerritsen Institutional Shareholder Services (ISS)
Dr. Tom Gosling PwC / London Business School
Prof. Hannes Wagner Bocconi University
Prof. Patrick Bolton Columbia University
Prof. Julian Franks London Business School
Mr. Andy Jones Hermes Investment Management
Mr. Jaime Gornsztejn Hermes Investment Management
Ms. Sarah Wilson Minerva
Ms. Amanda Hillström Cevian Capital

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