Premium
Institutional Investors’ Views on Corporate Governance Reform: policy recommendations for the 21st century
Author(s) -
Solomon Jill,
Solomon Aris,
Joseph Nathan,
Norton Simon
Publication year - 2000
Publication title -
corporate governance: an international review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.866
H-Index - 85
eISSN - 1467-8683
pISSN - 0964-8410
DOI - 10.1111/1467-8683.00200
Subject(s) - corporate governance , institutional investor , homogeneous , accounting , voting , business , relevance (law) , pension , principal (computer security) , political science , finance , politics , physics , computer science , law , thermodynamics , operating system
Growing interest in UK corporate governance has engendered research on specific issues of corporate governance reform. However, there seems to be little research on the more general impact of recent reforms in corporate governance. In this paper we employ an extensive postal questionnaire survey to investigate: (i) UK institutional investors’ general attitudes towards recent corporate governance reforms; (ii) whether UK institutional investors consider specific corporate governance initiatives to be of equal importance, and; (iii) whether all institutional investors represent a homogeneous group with respect to corporate governance reform. The empirical results indicate that institutional investors: (i) have generally welcomed the recent reforms; (ii) do not consider that specific corporate governance initiatives are equally important but attach more relevance to initiatives aimed at monitoring the principal/agent problem, and; (iii) may be treated as a homogeneous group, except in relation to voting policy, where pension funds appear more pro‐active in their approach than other groups.