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- Title
Increasing Shareholder Activism: A Challenge for the Managers Across Governance Systems.
- Authors
Subramanian, S.
- Abstract
Traditionally, shareholder activism has been an important mechanism only in the context of Anglo-American governance system, as it traces its foundations to Principal- Agency conflict. However, in recent years, shareholder activism is becoming an effective governance tool even in other governance systems. Further, in Anglo-American markets also, the scope of shareholder activism is expanding to include non-financial/social objectives. Given these changes, this paper tries to explain how and why shareholder activism would become a significant governance mechanism across governance models. It presents evidence for growing shareholder activism in non-Anglo-American governance systems with the support of both existing literature and hard data. The paper also highlights that shareholder activism is accommodating non-financial/social objectives in the US market. The paper argues that the managers across various governance models would find it challenging to manage the shareholder activism.
- Publication
IUP Journal of Corporate Governance, 2020, Vol 19, Issue 3, p7
- ISSN
0972-6853
- Publication type
Academic Journal