Active Ownership and ESG Performance

Issues in Sustainability Accounting, Assurance and Reporting (eds. Jones, S. and Ratnatunga, J.) : 115-138. Bingley: Emerald. 2014

27 Pages Posted: 18 Sep 2014 Last revised: 8 Nov 2014

See all articles by Arleta Majoch

Arleta Majoch

University of Reading - ICMA Centre

E. Gifford

Initiative for Responsible Investment at Harvard University

Andreas G. F. Hoepner

Smurfit Graduate Business School, University College Dublin; Stockholm School of Economics - Mistra Financial Systems (MFS); European Commission's Technical Expert Group for Sustainable Finance

Date Written: September 16, 2014

Abstract

This chapter will examine the literature on active ownership and the influence that large shareholder groups can exert on companies to achieve better ESG performance. It will ask: How do large shareholders exert influence? What strategies do they adopt? Are these strategies effective? The chapter will also propose a theoretical model to evaluate the effectiveness of shareholder engagement. The model will be illustrated through case studies of shareholder engagements conducted by a number of fund managers.

Keywords: active ownership, ESG performance, responsible investment, investor engagement, ESG engagement, CFP, CSP, financial performance, Dell, Gap, labor standards, supply chain, Calvert, stakeholder salience

Suggested Citation

Majoch, Arleta and Gifford, James and Hoepner, Andreas G. F., Active Ownership and ESG Performance (September 16, 2014). Issues in Sustainability Accounting, Assurance and Reporting (eds. Jones, S. and Ratnatunga, J.) : 115-138. Bingley: Emerald. 2014, Available at SSRN: https://ssrn.com/abstract=2496903 or http://dx.doi.org/10.2139/ssrn.2496903

Arleta Majoch (Contact Author)

University of Reading - ICMA Centre ( email )

Whiteknights Park
P.O. Box 242
Reading RG6 6BA
United Kingdom

James Gifford

Initiative for Responsible Investment at Harvard University ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

Andreas G. F. Hoepner

Smurfit Graduate Business School, University College Dublin ( email )

Blackrock, Co. Dublin
Ireland

Stockholm School of Economics - Mistra Financial Systems (MFS) ( email )

MISUM
Box 6501, SE-113 83 Stockholm
Sweden

European Commission's Technical Expert Group for Sustainable Finance ( email )

2 Rue de Spa
Brussels, 1000
Belgium

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