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Empirical Evidence of Long‐Termism and Shareholder Activism in UK Unit Trusts

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  • Aris Solomon
  • Jill Solomon

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.

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  • Aris Solomon & Jill Solomon, 1999. "Empirical Evidence of Long‐Termism and Shareholder Activism in UK Unit Trusts," Corporate Governance: An International Review, Wiley Blackwell, vol. 7(3), pages 288-300, July.
    • Handle: RePEc:bla:corgov:v:7:y:1999:i:3:p:288-300
    DOI: 10.1111/1467-8683.00159
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    Cited by:

    1. Jill Frances Solomon & Aris Solomon, 2006. "Private social, ethical and environmental disclosure," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 19(4), pages 564-591, July.
    2. Rachelle Belinga & Blanche Segrestin, 2016. "Proxy voting policies as tools for shareholder engagement in CSR: an exploratory study," Post-Print hal-01312918, HAL.
    3. Hakkon Kim & Kwangwoo Park & Doojin Ryu, 2017. "Corporate Environmental Responsibility: A Legal Origins Perspective," Journal of Business Ethics, Springer, vol. 140(3), pages 381-402, February.

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