Institutional Investors as Owners: Who Are They and What Do They Do?
This paper provides a framework for analysing the character and degree of ownership engagement by institutional investors. It argues that the general term "institutional investor" in itself doesn't say very much about the quality or degree of ownership engagement. It is therefore an e...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2013
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| Schriftenreihe: | OECD Corporate Governance Working Papers
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| Schlagworte: | |
| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | This paper provides a framework for analysing the character and degree of ownership engagement by institutional investors. It argues that the general term "institutional investor" in itself doesn't say very much about the quality or degree of ownership engagement. It is therefore an evasive "shorthand" for policy discussions about ownership engagement. The reason is that there are large differences in ownership engagement between different categories of institutional investors. There are also differences in ownership engagement within the same category of institutional investors such as hedge funds, investment funds, etc. These differences arise from the fact that the degree of ownership engagement is determined by a number of different features and choices that together make up the institutional investor's "business model". When ownership engagement is not a central part of the business model, public policies and voluntary standards aiming to improve the quality of ownership engagement among institutional investors are likely to have limited effect. Based on an empirical overview of the relative size of different categories of institutional investors, the paper identifies a set of 7 features and 19 choices that in different combinations define the institutional investor's business model. These features and choices are then used to establish a taxonomy for identifying different degrees of ownership engagement ranging from "no engagement" to "inside engagement" |
| Beschreibung: | 1 Online-Ressource (35 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k3v1dvmfk42-en |
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| spelling | Çelik, Serdar Verfasser aut Institutional Investors as Owners Who Are They and What Do They Do? Serdar Çelik and Mats Isaksson Paris OECD Publishing 2013 1 Online-Ressource (35 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Corporate Governance Working Papers This paper provides a framework for analysing the character and degree of ownership engagement by institutional investors. It argues that the general term "institutional investor" in itself doesn't say very much about the quality or degree of ownership engagement. It is therefore an evasive "shorthand" for policy discussions about ownership engagement. The reason is that there are large differences in ownership engagement between different categories of institutional investors. There are also differences in ownership engagement within the same category of institutional investors such as hedge funds, investment funds, etc. These differences arise from the fact that the degree of ownership engagement is determined by a number of different features and choices that together make up the institutional investor's "business model". When ownership engagement is not a central part of the business model, public policies and voluntary standards aiming to improve the quality of ownership engagement among institutional investors are likely to have limited effect. Based on an empirical overview of the relative size of different categories of institutional investors, the paper identifies a set of 7 features and 19 choices that in different combinations define the institutional investor's business model. These features and choices are then used to establish a taxonomy for identifying different degrees of ownership engagement ranging from "no engagement" to "inside engagement" Finance and Investment Governance Isaksson, Mats ctb https://doi.org/10.1787/5k3v1dvmfk42-en Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Çelik, Serdar Institutional Investors as Owners Who Are They and What Do They Do? Finance and Investment Governance |
| title | Institutional Investors as Owners Who Are They and What Do They Do? |
| title_auth | Institutional Investors as Owners Who Are They and What Do They Do? |
| title_exact_search | Institutional Investors as Owners Who Are They and What Do They Do? |
| title_exact_search_txtP | Institutional Investors as Owners Who Are They and What Do They Do? |
| title_full | Institutional Investors as Owners Who Are They and What Do They Do? Serdar Çelik and Mats Isaksson |
| title_fullStr | Institutional Investors as Owners Who Are They and What Do They Do? Serdar Çelik and Mats Isaksson |
| title_full_unstemmed | Institutional Investors as Owners Who Are They and What Do They Do? Serdar Çelik and Mats Isaksson |
| title_short | Institutional Investors as Owners |
| title_sort | institutional investors as owners who are they and what do they do |
| title_sub | Who Are They and What Do They Do? |
| topic | Finance and Investment Governance |
| topic_facet | Finance and Investment Governance |
| url | https://doi.org/10.1787/5k3v1dvmfk42-en |
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