Regulating Institutional Shareholders in the Medium to the Long-term : An Analysis of the 2017 Shareholder Rights Directive's Shareholders' Duties

Savva, Rafael (2020) Regulating Institutional Shareholders in the Medium to the Long-term : An Analysis of the 2017 Shareholder Rights Directive's Shareholders' Duties. International Company and Commercial Law Review, 31 (1). pp. 1-13. ISSN 0958-5214

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Abstract

The Article considers whether the duties imposed on institutional shareholders by Directive 2017/828 to disclose how their investment strategy will contribute to the medium to long-term performance of their assets will facilitate good governance at the investee company level. The Article reviews the basis for the duties, and provides objections to its policy underpinnings and the extent to which increasing shareholder value is an appropriate objective for shareholder stewardship from a perspective that considers investee companies' corporate governance.