The Geography of Shareholder Engagement: Evidence from a Large British Institutional Investor

54 Pages Posted: 8 May 2013 Last revised: 31 May 2014

See all articles by Rob Bauer

Rob Bauer

Maastricht University

Gordon L. Clark

Oxford University - Smith School of Enterprise and the Environment

Michael Viehs

Oxford University Smith School of Enterprise and the Environment; European Centre for Corporate Engagement (ECCE)

Date Written: May 15, 2013

Abstract

We study the global corporate engagement activities of a large UK-based asset manager from 2006 to 2011. Using proprietary data on these activities, we find that corporate engagements “behind-the-scenes” are frequently used to change corporate behavior. We show that geography is an important determinant for the occurrence of such engagements: UK firms receive significantly more engagements than their foreign counterparts. This finding gives rise to a “home bias” in corporate engagement. We also document that the extent of successful corporate engagements is significantly higher for U.S. firms than for domestic, UK firms.

Keywords: corporate engagement, ESG, geography, determinants

JEL Classification: G15, G23, G34

Suggested Citation

Bauer, Rob and Clark, Gordon L. and Viehs, Michael, The Geography of Shareholder Engagement: Evidence from a Large British Institutional Investor (May 15, 2013). Available at SSRN: https://ssrn.com/abstract=2261649 or http://dx.doi.org/10.2139/ssrn.2261649

Rob Bauer

Maastricht University ( email )

P.O. Box 616
Maastricht, 6200 MD
Netherlands
+31 43 3883871 (Phone)

Gordon L. Clark

Oxford University - Smith School of Enterprise and the Environment ( email )

South Parks Road
Oxford, OX1 3QY
United Kingdom
+44 1865 285197 (Phone)
+44 1865 285073 (Fax)

HOME PAGE: http://www.geog.ox.ac.uk/staff/glclark.html

Michael Viehs (Contact Author)

Oxford University Smith School of Enterprise and the Environment ( email )

South Parks Road
Oxford, OX1 3QY
United Kingdom
+44-1865-614938 (Phone)

European Centre for Corporate Engagement (ECCE) ( email )

Tongersestraat 53
Maastricht, 6211LM
Netherlands

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