The Rise of Fiduciary Capitalism: How Institutional Investors Can Make Corporate America More DemocraticAt the beginning of the twenty-first century, the structure of corporate ownership is undergoing major change. The Rise of Fiduciary Capitalism chronicles the rise of fiduciary institutions—primarily public and private pension funds—which now own almost 50 percent of the equity of American corporations. In turn, approximately 50 percent of Americans either own stock individually or, more typically, have an ownership or retirement interest in these fiduciary institutions. |
Contents
The Universal Owner Stockholder as Stakeholder | 1 |
Proxy Voting | 30 |
The Rise of Institutional Ownership in the United States | 42 |
The Finance Model and Its Implications for Corporate Governance | 69 |
Critiques of the Finance Model Implications for Corporate Governance | 82 |
Does Ownership Matter? The Link Between Active Ownership and Corporate Performance | 101 |
Models of Monitoring and Corporate Governance | 124 |