Addressing the participation gap in institutional investment: an assessment framework and preliminary results

Cadman, Tim and Maraseni, Tek (2014) Addressing the participation gap in institutional investment: an assessment framework and preliminary results. In: Cambridge handbook of institutional investment and fiduciary duty. Cambridge University Press, Cambridge, United Kingdom, pp. 452-465. ISBN 978-1-107-03587-4

Abstract

This chapter shows how fiduciary duty and the governance quality of investment can be understood using a stakeholder-based approach. In the past, stakeholders were effectively passive economic actors, who were supposed to just sit back and reap rewards. This view is increasingly being challenged by the assertion that large investors should care about governance as well as economic outcomes, and have both a right and a responsibility to ensure that assets are managed in a way that is socially and environmentally beneficial for all stakeholders. Contemporary governance theory argues for a wider understanding of stakeholders, which, in the case of investment, encompasses both financial and non financial interests. This chapter
examines the changing nature of 'stakeholderism',and explores its tensions and contradictions, using responsible investment as a case study. A survey of stakeholders involved in responsible investment follows. The results reveal interesting views about the governance quality of some central aspects of
the sector’s architecture, and thus provide useful learning points for institutional investment and fiduciary duty in general.


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Item Type: Book Chapter (Commonwealth Reporting Category B)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to Publisher's Proof version, in accordance with the copyright policy of the publisher.
Faculty / Department / School: No Faculty
Date Deposited: 10 Jun 2014 23:46
Last Modified: 04 Dec 2017 04:09
Uncontrolled Keywords: participation gap, institutional investment
Fields of Research : 16 Studies in Human Society > 1605 Policy and Administration > 160507 Environment Policy
Socio-Economic Objective: C Society > 94 Law, Politics and Community Services > 9402 Government and Politics > 940299 Government and Politics not elsewhere classified
Identification Number or DOI: 10.1017/CBO9781139565516.042
URI: http://eprints.usq.edu.au/id/eprint/25144

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