The Economist (February 8, 2014)
China is getting “a small breath of fresh air” as new policies stipulate “official data, formerly held secretly, should be published.” This marks “an important step, not just for China’s environment, but also because it gives new power to the large and growing movement of citizen activists who have been lobbying for the government to clean up.”
Tags: Activists, Air, China, Citizens, Data, Environment, Government, Lobbying, Power, Published
The Economist (March 9)
“The annual shareholder proxy season now getting under way in America could be the liveliest ever. The bosses of Apple and Disney have drawn flak not only for their strategies but also for their pay. Activist shareholders are on the march. About time, too…. Trying to improve the way a firm is run is more constructive than the traditional ‘Wall Street walk’, whereby disgruntled shareholders simply sell their shares.”
Tags: Activists, Apple, Disney, Pay, Proxy season, Shareholders, Strategies, U.S.
Wall Street Journal (February 25)
The Wall Street Journal applauds a new chapter of shareholder engagement. “After two decades of disappointing market performance, some Japanese institutional investors finally appear ready to reinvent themselves as advocates of higher shareholder returns and improved corporate governance.” The catalyst for the story is the new fund being established by Tokio Marine Asset Management Co. and U.K.-based investment group Governance for Owners LLP (GO), which represents several large overseas pension funds. Beginning in April, the new fund will invest up to 100 billion yen in 10-30 small- and mid-cap companies with the aim of improving governance at the firms. In contrast to Steel Partners and other highly publicized activists of recent years, the new venture seeks to raise long-term value using a Japanese approach to engagement through dialogue.
Tags: Activists, Engagement, Governance, Japan, Shareholder
