Shareholder activism: corporate governance reforms in Korea
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York [u.a.]
Palgrave Macmillan
2007
|
| Subjects: | |
| Online Access: | Contributor biographical information Publisher description Table of contents only Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references and index |
| Physical Description: | XXII, 163 S. graph. Darst. |
| ISBN: | 140399160X |
Staff View
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Record in the Search Index
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| adam_text | Contents
List of Tables ix
List of Figures x
Acknowledgements xi
List of Abbreviations xii
Note on Korean Spelling xiv
Foreword by Robert A.G. Monks xv
Introduction: Shareholder Activism and Corporate
Governance Reform xvii
Part I A Review of Theories 1
1 Defining the Object of Study 3
Previous definitions of shareholder activism 4
Three dimensions of shareholder activism 5
Meaning of emergence 14
2 Explaining Activism (1): Existence of a Problem 17
Theoretical backgrounds 17
Investigation methods 18
Research results 22
Further thoughts 24
3 Explaining Activism (2): Determinants of Choice 26
Theoretical backgrounds 26
Determinants of activism choice 28
Investigation results 31
Further thoughts 34
4 Explaining Activism (3): Politics and Interpretations 36
Theoretical backgrounds: social movement
theory 36
Investigation results 41
uti
viii Contents
Part II An Application: the Korean PSPD Case 45
5 Political Opportunity 47
Formal opportunity: government policy 47
Informal opportunity: power relations 58
6 Framing Process 67
Three frames from the past 67
Approaching shareholder rights 69
Korea First Bank: the first attempt 72
From a trial to regular use 75
Frame alignment and a minimalist strategy 80
Limitations of the PSPD activism 83
7 Resource Mobilization 86
Internal resources 86
External resources 95
8 Conclusion 119
Findings on three emergences 119
Implications 126
Notes 134
References 141
Index 155
List of Tables
1.1 Three dimensions of previous definitions 5
2.1 Results from single variable comparisons 23
2.2 Results from probability regressions 24
3.1 Percentages of the indexed equity portfolio, US 32
4.1 Two types of political opportunities 39
5.1 Shareholding requirements for minority shareholder
rights 49
5.2 Internal ownership of the 30 biggest chaebol,
1983 1999 52
5.3 CCEJ activities related to the chaebol, 1990 1996 60
5.4 PSPD shareholder activism, 1997 1999 64
6.1 Reframing the chaebol problem 82
7.1 Composition of the PEC executive members,
1997 2000 86
7.2 Income of the PEC (won), 1998 2000 94
7.3 Shareholder supports for the PEC s legal actions 98
7.4 PSPD shareholding of the chaebol, as of
28 February 2001
7.5 Shareholder composition of the PSPD targets 101
7.6 Participants in the 10 Share Campaign, as of
8 Feb. 2000 1UJ
7.7 Domestic institutional shareholdings, as of
31 Dec. 2000 105
7.8 Institutional shareholdings (%), 1986 1999 106
7.9 Institutions controlled by non financial companies,
as of 31 July 1999 107
7.10 Institutional investors voting in the AGMs of
all listed firms 108
10R
7.11 Positions of institutional investors luo
7.12 Institutions response to a PSPD proposal in
110
Samsung Electronics
7.13 Comparing shareholder groups 118
8.1 Two models of corporate governance 130
List of Figures
0.1 Shareholder activism in corporate governance reform xviii
0.2 Growth of shareholder resolutions, US, 1987 2005 xix
1.1 Monitoring and shareholder activism 11
1.2 Interactive model of shareholder activism 13
1.3 Number of resolutions per activists, US, 1995 2005 15
1.4 Three outstanding activists, US, 1995 2005 16
2.1 CAR for target companies 20
2.2 Inference in the first approach 20
5.1 Internal ownership of the 30 biggest chaebol,
1983 1999 52
5.2 Succession to the chairmanship in the four biggest
chaebol 53
6.1 Three past frames 69
6.2 Press releases and news reports, 1997 2000 77
6.3 New framing from the old frames 82
7.1 Composition of the PEC income 94
7.2 Institutional shareholdings (%), 1986 1999 106
7.3 Growth of ESOAs, 1990 2000 111
8.1 Dynamics of collective action organization 125
8.2 Assumptions underlying corporate governance
reforms 128
8.3 Shareholder activism as spinning cogwheels 129
8.4 Circular relation between the two models 131
|
| adam_txt |
Contents
List of Tables ix
List of Figures x
Acknowledgements xi
List of Abbreviations xii
Note on Korean Spelling xiv
Foreword by Robert A.G. Monks xv
Introduction: Shareholder Activism and Corporate
Governance Reform xvii
Part I A Review of Theories 1
1 Defining the Object of Study 3
Previous definitions of shareholder activism 4
Three dimensions of shareholder activism 5
Meaning of emergence 14
2 Explaining Activism (1): Existence of a Problem 17
Theoretical backgrounds 17
Investigation methods 18
Research results 22
Further thoughts 24
3 Explaining Activism (2): Determinants of Choice 26
Theoretical backgrounds 26
Determinants of activism choice 28
Investigation results 31
Further thoughts 34
4 Explaining Activism (3): Politics and Interpretations 36
Theoretical backgrounds: social movement
theory 36
Investigation results 41
uti
viii Contents
Part II An Application: the Korean PSPD Case 45
5 Political Opportunity 47
Formal opportunity: government policy 47
Informal opportunity: power relations 58
6 Framing Process 67
Three frames from the past 67
Approaching shareholder rights 69
Korea First Bank: the first attempt 72
From a trial to regular use 75
Frame alignment and a minimalist strategy 80
Limitations of the PSPD activism 83
7 Resource Mobilization 86
Internal resources 86
External resources 95
8 Conclusion 119
Findings on three emergences 119
Implications 126
Notes 134
References 141
Index 155
List of Tables
1.1 Three dimensions of previous definitions 5
2.1 Results from single variable comparisons 23
2.2 Results from probability regressions 24
3.1 Percentages of the indexed equity portfolio, US 32
4.1 Two types of political opportunities 39
5.1 Shareholding requirements for minority shareholder
rights 49
5.2 Internal ownership of the 30 biggest chaebol,
1983 1999 52
5.3 CCEJ activities related to the chaebol, 1990 1996 60
5.4 PSPD shareholder activism, 1997 1999 64
6.1 Reframing the chaebol problem 82
7.1 Composition of the PEC executive members,
1997 2000 86
7.2 Income of the PEC (won), 1998 2000 94
7.3 Shareholder supports for the PEC's legal actions 98
7.4 PSPD shareholding of the chaebol, as of
28 February 2001 "
7.5 Shareholder composition of the PSPD targets 101
7.6 Participants in the 10 Share Campaign, as of
8 Feb. 2000 1UJ
7.7 Domestic institutional shareholdings, as of
31 Dec. 2000 105
7.8 Institutional shareholdings (%), 1986 1999 106
7.9 Institutions controlled by non financial companies,
as of 31 July 1999 107
7.10 Institutional investors' voting in the AGMs of
all listed firms 108
10R
7.11 Positions of institutional investors luo
7.12 Institutions' response to a PSPD proposal in
110
Samsung Electronics
7.13 Comparing shareholder groups 118
8.1 Two models of corporate governance 130
List of Figures
0.1 Shareholder activism in corporate governance reform xviii
0.2 Growth of shareholder resolutions, US, 1987 2005 xix
1.1 Monitoring and shareholder activism 11
1.2 Interactive model of shareholder activism 13
1.3 Number of resolutions per activists, US, 1995 2005 15
1.4 Three outstanding activists, US, 1995 2005 16
2.1 CAR for target companies 20
2.2 Inference in the first approach 20
5.1 Internal ownership of the 30 biggest chaebol,
1983 1999 52
5.2 Succession to the chairmanship in the four biggest
chaebol 53
6.1 Three past frames 69
6.2 Press releases and news reports, 1997 2000 77
6.3 New framing from the old frames 82
7.1 Composition of the PEC income 94
7.2 Institutional shareholdings (%), 1986 1999 106
7.3 Growth of ESOAs, 1990 2000 111
8.1 Dynamics of collective action organization 125
8.2 Assumptions underlying corporate governance
reforms 128
8.3 Shareholder activism as spinning cogwheels 129
8.4 Circular relation between the two models 131 |
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| spelling | Rho, Han-Kyun Verfasser aut Shareholder activism corporate governance reforms in Korea Han-Kyun Rho New York [u.a.] Palgrave Macmillan 2007 XXII, 163 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Corporate governance - Korea (South) Stockholders - Korea (South) Corporate governance Korea (South) Stockholders Korea (South) Corporate Governance (DE-588)4419850-4 gnd rswk-swf Aktionär (DE-588)4000947-6 gnd rswk-swf Südkorea (DE-588)4078029-6 gnd rswk-swf Südkorea (DE-588)4078029-6 g Corporate Governance (DE-588)4419850-4 s Aktionär (DE-588)4000947-6 s DE-604 http://www.loc.gov/catdir/enhancements/fy0703/2006049097-b.html Contributor biographical information http://www.loc.gov/catdir/enhancements/fy0703/2006049097-d.html Publisher description http://www.loc.gov/catdir/enhancements/fy0703/2006049097-t.html Table of contents only HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015672639&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Rho, Han-Kyun Shareholder activism corporate governance reforms in Korea Corporate governance - Korea (South) Stockholders - Korea (South) Corporate governance Korea (South) Stockholders Korea (South) Corporate Governance (DE-588)4419850-4 gnd Aktionär (DE-588)4000947-6 gnd |
| subject_GND | (DE-588)4419850-4 (DE-588)4000947-6 (DE-588)4078029-6 |
| title | Shareholder activism corporate governance reforms in Korea |
| title_auth | Shareholder activism corporate governance reforms in Korea |
| title_exact_search | Shareholder activism corporate governance reforms in Korea |
| title_exact_search_txtP | Shareholder activism corporate governance reforms in Korea |
| title_full | Shareholder activism corporate governance reforms in Korea Han-Kyun Rho |
| title_fullStr | Shareholder activism corporate governance reforms in Korea Han-Kyun Rho |
| title_full_unstemmed | Shareholder activism corporate governance reforms in Korea Han-Kyun Rho |
| title_short | Shareholder activism |
| title_sort | shareholder activism corporate governance reforms in korea |
| title_sub | corporate governance reforms in Korea |
| topic | Corporate governance - Korea (South) Stockholders - Korea (South) Corporate governance Korea (South) Stockholders Korea (South) Corporate Governance (DE-588)4419850-4 gnd Aktionär (DE-588)4000947-6 gnd |
| topic_facet | Corporate governance - Korea (South) Stockholders - Korea (South) Corporate governance Korea (South) Stockholders Korea (South) Corporate Governance Aktionär Südkorea |
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