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A Survey Of Canadian Mutual Funds On Proxy Voting
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Book Synopsis A survey of Canadian mutual funds on proxy voting by :
Download or read book A survey of Canadian mutual funds on proxy voting written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In August 31, 2006, mutual funds in Canada were required, for the first time, to publicly report their Secondly, we wanted to see the levels of support proxy voting policies and to disclose their proxy given to the various ESG shareholder resolutions voting records. [...] In all of Inhance Investment's funds there was not one vote in support of • In compliance with Continuous management among the subset of Disclosure requirements, all the mutual shareholder proposals reviewed by this funds report, on their Web sites, proxy study. [...] The results of this survey support the view that Canadian mutual funds are not doing everything 3) A failure of senior mutual fund family in their power to vote their proxies with care and executives to communicate to fund diligence. [...] For conventional funds the initial intention was to The goal of this study was to see the how mutual only look at the top three funds managed by each funds were complying with the new Continuous fund family, but it quickly became apparent that Disclosure rules and to provide a sampling of our data would be extremely limited as those voting behavior across a range of issues funds would not hold man.
Book Synopsis Analysis of Proxy Voting by Mutual Funds by : Ada Gruianu
Download or read book Analysis of Proxy Voting by Mutual Funds written by Ada Gruianu and published by . This book was released on 2008 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Proxy Voting of Mutual Funds by : Sathish Ramesh
Download or read book Proxy Voting of Mutual Funds written by Sathish Ramesh and published by . This book was released on 2007 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Report of the Canadian Committee on Mutual Funds and Investment Contracts by : Canadian Committee on Mutual Funds and Investment Contracts
Download or read book Report of the Canadian Committee on Mutual Funds and Investment Contracts written by Canadian Committee on Mutual Funds and Investment Contracts and published by . This book was released on 1969 with total page 858 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Does Disclosure Regulation Affect Mutual Fund Families' Proxy Voting? by : Eunjee Kim
Download or read book Does Disclosure Regulation Affect Mutual Fund Families' Proxy Voting? written by Eunjee Kim and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of disclosure regulation on mutual fund families' proxy voting. I study beneficial ownership reporting rules requiring more-than-5% equity investors to file either a 13D, which allows them to influence the firm and its management, or a less costly 13G, which prohibits such actions. Using a regression discontinuity design, I find that mutual fund families that file beneficial ownership reports (i.e., just above 5%) are more likely to vote in favor of management on executive compensation than families that do not (i.e., just below 5%). Consistent with the idea that mutual fund families opt for a low-cost 13G at the expense of their ability to influence the firm, I also document that the effect of the reporting rules is greater when the cost of filing a 13D is higher or when voting against management is more likely to be seen as influencing the firm. My findings suggest that the regulatory mandates aimed at improving transparency can incentivize mutual fund families to refrain from confronting management in voting.
Download or read book Hedge Fund Activism written by Alon Brav and published by Now Publishers Inc. This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.
Book Synopsis Determinants and Consequences of Proxy Voting by Mutual Funds on Shareholder Proposals by : Rasha Ashraf
Download or read book Determinants and Consequences of Proxy Voting by Mutual Funds on Shareholder Proposals written by Rasha Ashraf and published by . This book was released on 2015 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze mutual funds' proxy voting records on shareholder proposals and investigate the following three issues. First, we study the determinants of mutual funds' voting policies across firms. Next, we examine the incentive structure of mutual funds that could act as a motivational force for them to undertake an activist role in their proxy voting behavior. Last, we investigate the trading behavior of mutual funds surrounding proposal meeting date and voting record release date and investigate whether mutual funds engage in quot;Wall Street Walk,quot; that is, sell off their shares when dissatisfied with firms' management. Our results indicate that mutual funds support shareholder proposals and vote against management for proposals that are likely to increase shareholders' wealth and rights, in firms with weaker external monitoring mechanisms and in firms with entrenched management. The level of insider voting rights and the internal governance mechanism through blockholder ownership also influence funds' voting decisions. Moreover, mutual funds' motivation to take on an activist role does not come from their ownership concentration, but rather from their long-term investment goal. The results further indicate that there is a positive reputational effect for the funds undertaking a monitoring role in their voting strategies. The trading behavior of mutual funds suggests that funds reduce holdings when they disapprove of managements' policy, but before doing so they take on an activist role by supporting shareholder proposals.
Book Synopsis Would Mutual Funds Bite the Hand that Feeds Them? Business Ties and Proxy Voting by : Gerald F. Davis
Download or read book Would Mutual Funds Bite the Hand that Feeds Them? Business Ties and Proxy Voting written by Gerald F. Davis and published by . This book was released on 2006 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes conflicts of interest in proxy voting by mutual funds using newly-available data on funds' voting records for 2004. We first examine mutual funds' ties to corporate clients created via pension fund business and their patterns of portfolio ownership. We then link these to proxy votes at specific firms and to overall voting policies for 21 mutual fund families, CalPERS and CREF. Among large fund families, levels of ownership are essentially independent of client relationships between mutual funds and firms, and funds are no more likely to vote with management at client firms than non-clients. At the policy level, however, we find a positive relation between the volume of pension business a fund's parent does and its propensity to vote with management.
Book Synopsis Analysis and Implications of the New Proxy Voting Rules for Mutual Funds by :
Download or read book Analysis and Implications of the New Proxy Voting Rules for Mutual Funds written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Swing Pricing and Fragility in Open-end Mutual Funds by : Dunhong Jin
Download or read book Swing Pricing and Fragility in Open-end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Book Synopsis Long-term investment and the Sustainable Company: a stakeholder perspective. Vol. III by : Sigurt Vitols
Download or read book Long-term investment and the Sustainable Company: a stakeholder perspective. Vol. III written by Sigurt Vitols and published by ETUI. This book was released on 2015-09-16 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The onset of the Great Financial Crisis in 2007/8 has triggered a widespread debate about the causes and the social and environmental consequences of the lack of long-term investment around the world. This volume, the third in the Sustainable Company book series produced by the GOODCORP network of academic and trade union experts on corporate governance, presents a ‘stakeholder’ approach to the problem. The analysis and policy prescriptions presented here go beyond mainstream economic analysis by highlighting the need for major changes in the way resources are saved, distributed and invested in the interests of a sustainable and just economy and society. Individual chapters explore different dimensions of the problem of short-termism and possible policy responses. Key themes in this volume include the state of the debate on long-term investment in Europe, increasing worker voice in pension fund investment and implementing financial transaction taxes to discourage financial market speculation. Policy proposals beyond the mainstream include strengthening worker participation rights (including the right to non-financial information from companies) and using international investment treaties to support social and environmental standards.
Book Synopsis ESG and Responsible Institutional Investing Around the World: A Critical Review by : Pedro Matos
Download or read book ESG and Responsible Institutional Investing Around the World: A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Book Synopsis Governance Ecosystems by : J. Sagebien
Download or read book Governance Ecosystems written by J. Sagebien and published by Springer. This book was released on 2011-10-12 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors explore the complex dynamics of mining and Corporate Social Responsibility (CSR) in Latin America, including a reflection on the African continent, presenting arguments and case studies based on new research on a set of urgent and emerging questions surrounding mining, development and sustainability.
Book Synopsis Socially Responsible Investment Law by : Benjamin J Richardson
Download or read book Socially Responsible Investment Law written by Benjamin J Richardson and published by Oxford University Press. This book was released on 2008-06-30 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental harm is commonly associated with companies that extract, consume, and pollute our shared natural resources. Rarely are the 'unseen polluters,' the financiers that sponsor and profit from eco-damaging corporations, placed at the forefront of the environmental debate. By focusing on these unseen polluters, Benjamin Richardson provides a comprehensive examination of socially responsible investment (SRI), and offers a guide to possible reform. Richardson proposes that greater regulatory supervision of SRI will help ensure that the financial sector prioritizes ethically-based investments. In Socially Responsible Investment Law, he suggests that new governmental reforms should encourage companies to participate in socially responsible investments by providing a better mix of standards and incentives for SRI through measures that include redefining the fiduciary responsibilities of institutional investors to incorporate environmental concerns. By doing so, Richardson posits that corporate financiers, including banks, hedge funds, and pension plans, will become more accountable to the goals of ensuring sustainable development.
Book Synopsis Democratizing Pension Funds by : Ronald B. Davis
Download or read book Democratizing Pension Funds written by Ronald B. Davis and published by UBC Press. This book was released on 2009-01-01 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will spark a debate concerning the need for democracy and accountability in the governance of trillions of dollars of plan members' pension plan assets and the legitimacy of the present, mostly unaccountable, corporate governance decisions made by these plans. The author analyzes the reasons for this passivity, pointing to conflicts of interest with respect to corporate governance activity in pension plans and also to limitations in corporate, securities, and pension law. He argues that plan members should be given a voice in pension plan governance and the plans made accountable, and he outlines the legal reforms necessary.
Book Synopsis Regulating Transnational Corporations in Domestic and International Regimes by : Evaristus Oshionebo
Download or read book Regulating Transnational Corporations in Domestic and International Regimes written by Evaristus Oshionebo and published by University of Toronto Press. This book was released on 2009-01-01 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the range of strategies for regulating the social and environmental practices of TNCs in Africa's extractive industries.
Book Synopsis Institutional Investors' Power to Change Corporate Behavior by : Suzanne Young
Download or read book Institutional Investors' Power to Change Corporate Behavior written by Suzanne Young and published by Emerald Group Publishing. This book was released on 2013-10-24 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional Investors' Power to Change Corporate Behavior
