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Activism in European pension funds

De Graaf, Frank Jan and Haigh, Matthew (2011) 'Activism in European pension funds.' In: Sun, William and Louche, Céline and Pérez, Roland, (eds.), Finance and Sustainability: Towards a New Paradigm: A Post-Crisis Agenda. Bingkey UK: Emerald, pp. 118-143. (Critical Studies on Corporate Responsibility, Governance and Sustainability, Volume 2)

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Abstract

This paper answers calls for in-depth investigations into the factors affecting the success of (legislative) attempts to broaden the role of pension funds by means of shareholder activism. Documents such as national codes of pension governance and the Principles of Responsible Investment require institutional investors to address issues of corporate governance in portfolio management processes. Investors have developed several mechanisms to address such obligations. Using two pension funds in Great Britain and the Netherlands as cases, we identify the sources of changes to activism practices. Both cases relied on cooperative action to change the practices of investment intermediaries. This type of pressure, it was hoped, would filter through to observable portfolio allocation decisions.

Item Type: Book Chapters
SOAS Departments & Centres: Faculty of Law and Social Sciences > Department of Financial and Management Studies > Centre for Financial and Management Studies (CeFiMS)
ISBN: 9781780520926
Copyright Statement: Abstract here is supplied by the authors and is not published with the chapter.
Depositing User: Matthew Haigh
Date Deposited: 16 Nov 2011 14:41
URI: http://eprints.soas.ac.uk/id/eprint/12598

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