Behind Professional and Institutional Activism in the Capital Markets. Cultural, Economic and Legal Constraints

Download or read book Behind Professional and Institutional Activism in the Capital Markets. Cultural, Economic and Legal Constraints written by Monica Cossu and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The essay starts from the premise that the "legal variable" is not the only important variable that determines the active behavior of financial intermediaries and institutional investors when they are shareholders of a company. Giving largely presumed the distinction among the different types of formal and informal activism, the essay underlines the main factors that determine the behavior of the major financial intermediaries and institutional investors in the markets, in particular the effect of the asset allocation and investment rules on their corporate behavior, with the aim of integrating the legal analysis. It has been observed that an important part of activism comes from financial intermediaries that are not institutional investors, and the main differences between the different categories of active investors. It has also been underlined the level of criticality of any estimates on professional and institutional activism, in particular because the data on activism of mutual and hedge funds and the data on the activism of venture capital funds are hardly integrated.