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Shareholder activism may be regarded as part and parcel of investors' responsibility towards their investee companies, or as a form of investment strategy to unlock value in the companies, or as a distraction or disruption to management who may have to deal with shareholder queries and demands. What are the dominant patterns of shareholder activism in the UK, and can shareholder activism be supported in theory and law?
This book discusses the two dominant forms of shareholder activism in the UK, institutional shareholder activism and "offensive" forms of activism largely carried out by hedge funds. A major contribution made by the book lies in its discussion of how shareholder activism may be accommodated within and supported theories of the company and by the current UK legal framework.
The book examines shareholder activism in the UK within the context of the nexus of contracts theory as well as communitarian perspectives of the company as a social institution. The book also locates shareholder activism within the framework of company law, shareholder rights and the nature of the ownership of shares.
