Empirical evidence of long-termism and shareholder activism in UK unit trusts

Solomon, Aris and Solomon, Jill ORCID: https://orcid.org/0000-0001-8727-0019 1999. Empirical evidence of long-termism and shareholder activism in UK unit trusts. Corporate Governance 7 (3) , pp. 288-300. 10.1111/1467-8683.00159

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Abstract

In this paper, we assess the impact of recent reforms in UK corporate governance, focusing specifically on aspects of the reforms which apply to unit trust managers, a major group of institutional investors, and their investee companies. We canvass the views of UK unit trust managers to shed light on three issues: the extent of shareholder activism by UK unit trusts; the extent to which longer and stronger decision and communication links are being forged between investment institutions and their investee companies, and; the emerging controversy over whether or not these recent reforms represent a help or a hindrance for unit trust managers. The empirical findings indicate that unit trusts: are active shareholders, developing and using written voting policy documents; are encouraging the development of longer and stronger links with their investee companies, and; have welcomed corporate governance reforms.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Publisher:	Wiley
ISSN:	0964-8410
Last Modified:	26 Apr 2023 09:32
URI:	https://orca.cardiff.ac.uk/id/eprint/158653

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