Gourt > Business > Investing > Socially Responsible > Shareholder Activism
An activist shareholder uses an equity stake in a corporation to put public pressure on its management. The goals of activist shareholders range from economic (increase of shareholder value through changes in corporate policy, financing structure, cost cutting, etc.) to non-economic (disinvestment from particular countries, adoption of environmentally friendly policies, etc.). The attraction of shareholder activism lies in its comparative cheapness; a fairly small stake (less than 10% of outstanding shares) may be enough to launch a successful campaign. In comparison, a full takeover bid is a much more costly and difficult undertaking.
Shareholder activism can take any of several forms: proxy battles, publicity campaigns, litigation, even in the right circumstances more-or-less amiable negotiations with management.
For example, in September 2003, hedge fund manager Lawrence J. Goldstein created a new fund specifically for the purpose of using such activism to increase the value of targeted corporations' equity. The resulting entity is known as the Santa Monica Partners Opportunity Fund LP, *
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The Guardian: Company-Side Shareholder Activism Alert - Mondaq News Alerts (subscription)
Thu, 28 Aug 2008 12:23:34 -0000
The Guardian: Company-Side Shareholder Activism AlertMondaq News Alerts (subscription), UK - 9 hours agoAs a result of this decision, activist shareholders may be emboldened to make bylaw proposals that facilitate their future proxy contests against a company, ...
Winners and losers in the rising tide of proxy wars - Sify
Wed, 27 Aug 2008 11:45:23 -0000
Winners and losers in the rising tide of proxy warsSify, India - Aug 27, 2008One thing is certain: Proxy wars and other forms of shareholder activism are becoming more prevalent. According to FactSet Sharkwatch, a Stamford, Conn., ...
13D FILINGS - Barron's
Mon, 25 Aug 2008 06:05:09 -0000
13D FILINGSBarron's - Aug 24, 2008This item is by 13DMonitor.com, a consulting firm specializing in shareholder activism and 13D filings. For a full report, go to www.13DMonitor.com or call ...
The Good and Not So Good of Activist Shareholders - Wall Street Journal
Thu, 07 Aug 2008 04:42:06 -0000
The Good and Not So Good of Activist ShareholdersWall Street Journal - Aug 6, 2008Shareholder activism may destroy shareholder value to long-term holders generally, but such is not the case with Yahoo and Microsoft. ...
Top Three Activist Plays - TheStreet.com
Thu, 21 Aug 2008 15:34:29 -0000
Top Three Activist PlaysTheStreet.com - Aug 21, 2008Since most hedge funds get paid based on their returns for the year, managers who do not want to underperform are now turning to shareholder activism as a ...
Gold Reef's proposed share incentive scheme amended. Theo Botha ... - Moneyweb
Wed, 20 Aug 2008 10:35:14 -0000
Gold Reef's proposed share incentive scheme amended. Theo Botha ...Moneyweb, South Africa - Aug 20, 2008ALEC HOGG: But why would companies still, in this day and age when shareholder activism is so strong, take a chance like this - to basically give the ...
Advocacy and Public Policy Program - Clearinghouse of information, research, and analysis for the socially responsible investing community working on shareholder advocacy and activism campaigns.
Corporate Sunshine Working Group - Alliance of investors, environmental organizations, unions, and public interest groups working to enforce and expand SEC corporate social and environmental disclosure requirements. United States.
Institutional Shareholder Services - Provider of proxy voting and corporate governance services. Offers proxy research, voting recommendations and governance advisory services to financial institutions and corporations worldwide.
Meta Description: [ Institutional Shareholder Services provides proxy voting and corporate governance services to institutional investors. We advise on the cost and benefits of corporate governance to assist institutional investors in creating an effective corporate governance plan. ]
Interfaith Center on Corporate Responsibility - International coalition of faith-based institutional investors utilizing screening and shareholder activism campaigns to change unjust corporate policies.
PROXY Governance, Inc. - A provider of proxy voting and corporate governance services. Provides proxy research, voting recommendations and governance advisory services to financial institutions and corporations worldwide.
Meta Description: [ PROXY Governance, Inc. is a leading provider of proxy voting and corporate governance services. PROXY Governance, Inc. provides proxy research, voting recommendations and governance advisory services to financial institutions and corporations worldwide. ]
Proxy Information - Organization provides a source of information to shareholders considering the merits of corporate accountability shareholder resolutions on their company proxy statements. United States.
Meta Description: [ Proxyinformation.com provides reliable, factual information to shareholders on the merits of selected corporate
accountability shareholder resolutions to help shareholders reach their voting decisions. We strive to communicate complex social and environmental
issues to shareholders in a manne... ]
Robert AG Monks - A leading theorist on the relationships between investment, corporate governance and shareholder activism. Related books, letters, speeches.
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