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Investor Engagement: Investors and Management Practice under Shareholder Value
Author(s): Roderick Martin (Author), Peter D. Casson (Author), Tahir M. Nisar (Author)
- Publisher: OUP Oxford
- Publication Date: 5 July 2007
- Language: English
- Print length: 238 pages
- ISBN-10: 0199202605
- ISBN-13: 9780199202607
Book Description
The discussion is primarily based on British and US research. The debate has wider international relevance, because there are strong pressures for establishing shareholder value as the international ‘norm’ for systems of corporate governance. Following a detailed discussion of Germany, the authors conclude that there is no inevitable trend to shareholder value: shareholder value depends upon complementary institutional arrangements in national business systems, which are far from universal. The book concludes with a critical analysis of the justifications for shareholder value and investor engagement, highlighting the weaknesses of both efficiency and equity justifications.
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About the Author
Peter D. Casson is Senior Lecturer in Accounting at the University of Southampton School of Management, with a background in psychology as well as accounting. After working as a research psychologist he trained as an accountant, and is a Fellow of the Institute of Chartered Accountants in England and Wales. His research interests include issues related to senior executive and employee share participation schemes, and accounting for complex financial instruments, as well as corporate governance.
Tahir M. Nisar is Lecturer at the University of Southampton School of Management, with a particular interest in the economics of labour management. His PhD was from the LSE for a thesis on
Voice, Value and Corporate Governance: A Study of the 1998 Workplace Employee Relations Survey. Recent papers have been concerned with the role of subjectivity in bonus plan payouts and with bonuses and investment in intangibles.
