Institutional investors and ownership engagement:
This article 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...
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| Format: | Elektronisch Artikel |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2014
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This article 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 sise of different categories of institutional investors, the article 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 (22 p.) 21 x 28cm. |
| DOI: | 10.1787/fmt-2013-5jz734pwtrkc |
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| 520 | |a This article 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 sise of different categories of institutional investors, the article 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". | ||
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| spelling | Çelik, Serdar VerfasserIn aut Institutional investors and ownership engagement Serdar, Çelik and Mats, Isaksson Paris OECD Publishing 2014 1 Online-Ressource (22 p.) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier This article 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 sise of different categories of institutional investors, the article 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 Isaksson, Mats MitwirkendeR ctb Enthalten in OECD Journal: Financial Market Trends Vol. 2013, no. 2, p. 93-114 volume:2013 year:2013 number:2 pages:93-114 FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/fmt-2013-5jz734pwtrkc Volltext |
| spellingShingle | Çelik, Serdar Institutional investors and ownership engagement Finance and Investment |
| title | Institutional investors and ownership engagement |
| title_auth | Institutional investors and ownership engagement |
| title_exact_search | Institutional investors and ownership engagement |
| title_full | Institutional investors and ownership engagement Serdar, Çelik and Mats, Isaksson |
| title_fullStr | Institutional investors and ownership engagement Serdar, Çelik and Mats, Isaksson |
| title_full_unstemmed | Institutional investors and ownership engagement Serdar, Çelik and Mats, Isaksson |
| title_short | Institutional investors and ownership engagement |
| title_sort | institutional investors and ownership engagement |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/fmt-2013-5jz734pwtrkc |
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