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Facilitating Investor Engagement and Stewardship

Published online by Cambridge University Press:  28 March 2013

Eva Micheler
Eva Micheler*
Affiliation:
Reader in Law, London School of Economics and Political Science and Universitäts-professor, Vienna University of Economics and Business.
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Abstract

This article puts forward the idea that the creation of an online review facility where all market participants are able to review and rate all companies listed in a particular market would solve a number of problems that currently prevent shareholders, in particular institutional investors and the ultimate beneficiaries of investment vehicles such as pension funds, from engaging with companies. It would also allow shareholders and stakeholders with a long-term focus to engage with companies. It is suggested that all listed companies should be required to have a link to this review and rating facility on their website. Listed companies should have the ability to respond to the reviews and ratings on the site. Furthermore, the review facility should be regulated. The arrangement currently used for appointing and overseeing the operator of the UK securities settlement system could serve as a model.

Keywords

stewardshipshort-termism‘comply or explain’Kay ReviewEU Green Paper on Corporate Governanceshareholder engagementinvestor engagement
Type
Articles
Information
European Business Organization Law Review (EBOR) , Volume 14 , Issue 1 , March 2013 , pp. 29 - 56
Copyright
Copyright © T.M.C. Asser Press and the Authors 2013

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