The Growth of Institutional Stock Ownership: A Promise Unfulfilled
- Topics:
- Commercial Lending
- Source:
- Bank of America
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Overview: Academics have pointed to the dramatic growth of institutional stock ownership in the United States during the past 20 years as the best hope for reversing the shift in power from corporate managers that began in the 1930s. The promise of better corporate governance through more active institutional shareholders has been reinforced by a recent empirical study of institutional ownership. Such optimism about the prospects of a corporate governance revolution led by a growth in “institutional-investor capitalism” may be premature. The primary message in this article is that, despite the increase in institutional stock ownership that has occurred since 1980, institutional investors are unlikely to alter significantly the way U.S. corporations are governed in the future unless changes are made in the laws and the institutional structure that govern the behavior of institutional fund managers.
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Format: PDF | Size: 2,345KB | Date: Oct 2000 | Pages: 13
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