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Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations

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Main Authors: Tanaka, Wataru, Iwasaki, Masaki
Format: Book
Language:English
Published: Springer 2023
Subjects:
governance regulations
in-depth survey
Online Access:https://link.springer.com/article/10.1007/s40804-022-00260-4
https://dlib.phenikaa-uni.edu.vn/handle/PNK/9085
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spelling oai:localhost:PNK-90852023-09-18T08:07:07Z Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations Tanaka, Wataru Iwasaki, Masaki governance regulations in-depth survey CC-BY We use an in-depth survey of institutional investors investing in Japan to reveal the homogeneity and heterogeneity of their views on corporate governance regulations. Their opinions exhibited high homogeneity in favoring legislative intervention in corporate management but nuanced heterogeneity with respect to the degree of intervention that they regarded as desirable. A certain cluster of investors, to which investment trusts and advisors were more likely to belong, tended to prefer stronger legal intervention; these investors favored strict tender-offer rules, and they more clearly supported intervention in the composition of boards and the pursuit of executive liability. These reactions may have been motivated by concern for the fact that a certain class of shareholders, particularly banks and insurance companies, was vulnerable to pressure by management, making it hard for corporations functioning autonomously to maximize shareholder values. The survey results suggest that shareholder composition may affect the necessity and effectiveness of legal interventions. 2023-09-18T08:07:07Z 2023-09-18T08:07:07Z 2023 Book https://link.springer.com/article/10.1007/s40804-022-00260-4 https://dlib.phenikaa-uni.edu.vn/handle/PNK/9085 en application/pdf Springer
institution Digital Phenikaa
collection Digital Phenikaa
language English
topic governance regulations
in-depth survey
spellingShingle governance regulations
in-depth survey
Tanaka, Wataru
Iwasaki, Masaki
Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations
description CC-BY
format Book
author Tanaka, Wataru
Iwasaki, Masaki
author_facet Tanaka, Wataru
Iwasaki, Masaki
author_sort Tanaka, Wataru
title Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations
title_short Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations
title_full Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations
title_fullStr Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations
title_full_unstemmed Homogeneity and Heterogeneity in How Institutional Investors Perceive Corporate and Securities Regulations
title_sort homogeneity and heterogeneity in how institutional investors perceive corporate and securities regulations
publisher Springer
publishDate 2023
url https://link.springer.com/article/10.1007/s40804-022-00260-4
https://dlib.phenikaa-uni.edu.vn/handle/PNK/9085
_version_ 1779307153628069888
score 8.891787

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