Book contents
- Board-Shareholder Dialogue
- International Corporate Law and Financial Market Regulation
- Board-Shareholder Dialogue
- Copyright page
- Contents
- Contributors
- Foreword
- The Dialogue between Corporations and Institutional Investors
- 1 The New Corporate Governance
- 2 Shareholder Voice and Corporate Purpose
- 3 The Purpose of Corporate Purpose Statements
- 4 Systemic Stewardship with Tradeoffs
- 5 Giant Asset Managers, the Big Three, and Index Investing
- 6 Something Old, Something New
- 7 The Perils and Promise of Shareholders as Stakeholder Advocates
- 8 How to Facilitate ESG Investor Engagement
- 9 Emerging ESG-Driven Models of Shareholder Collaborative Engagement
- 10 ESG and Board-Shareholder Engagement in M&A
- 11 How Does Board-Shareholder Engagement Really Work?
- 12 Shareholder Engagement inside and outside the Shareholder Meeting
- 13 The Viability of Blockchain in Corporate Governance
- 14 Shareholder Engagement in East Asia
- 15 Board-Shareholder Engagement and Directors’ Appointments
- 16 Shareholder Proposals and the Debate over Sustainability Disclosure
- 17 Board-Shareholder Engagement and Disclosure Obligations under Corporate Governance Codes
- 18 Board-Shareholder Engagement and Insider Regulation
- 19 Market Soundings Rules
12 - Shareholder Engagement inside and outside the Shareholder Meeting
Published online by Cambridge University Press: 31 August 2024
- Board-Shareholder Dialogue
- International Corporate Law and Financial Market Regulation
- Board-Shareholder Dialogue
- Copyright page
- Contents
- Contributors
- Foreword
- The Dialogue between Corporations and Institutional Investors
- 1 The New Corporate Governance
- 2 Shareholder Voice and Corporate Purpose
- 3 The Purpose of Corporate Purpose Statements
- 4 Systemic Stewardship with Tradeoffs
- 5 Giant Asset Managers, the Big Three, and Index Investing
- 6 Something Old, Something New
- 7 The Perils and Promise of Shareholders as Stakeholder Advocates
- 8 How to Facilitate ESG Investor Engagement
- 9 Emerging ESG-Driven Models of Shareholder Collaborative Engagement
- 10 ESG and Board-Shareholder Engagement in M&A
- 11 How Does Board-Shareholder Engagement Really Work?
- 12 Shareholder Engagement inside and outside the Shareholder Meeting
- 13 The Viability of Blockchain in Corporate Governance
- 14 Shareholder Engagement in East Asia
- 15 Board-Shareholder Engagement and Directors’ Appointments
- 16 Shareholder Proposals and the Debate over Sustainability Disclosure
- 17 Board-Shareholder Engagement and Disclosure Obligations under Corporate Governance Codes
- 18 Board-Shareholder Engagement and Insider Regulation
- 19 Market Soundings Rules
Summary
Capital market, regulatory and technological developments have created investor appetite and capacity for engagement with public companies. Our paper explores key engagement mechanisms and techniques employed by public company shareholders. First, shareholder-company engagement is a multi-dimensional, evolving phenomenon. Shareholders use a range of techniques including shareholder meetings, behind-the-scenes interactions, public campaigns, and online technologies. Second, shareholders mix and match different engagement techniques to leverage governance influence. Third, shareholders increasingly undertake their engagement activities collectively, highlighting growing capacity to overcome traditional collective action challenges. Finally, the shareholder meeting remains an important engagement mechanism. Its formal, in-person and public nature sets it apart from other mechanisms and gives it unique potential as a forum for scrutiny and accountability. Although low attendance rates indicate that shareholders do not routinely utilise the meeting to maximum effect, it is better conceived as having contingent significance because its potential as an accountability mechanism can prove critical when a company experiences serious governance problems.
Keywords
- Type
- Chapter
- Information
- Board-Shareholder DialoguePolicy Debate, Legal Constraints and Best Practices, pp. 368 - 399Publisher: Cambridge University PressPrint publication year: 2024