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The implications of reform-oriented investment for regulation and governance

Haigh, Matthew and de Graaf, Frank Jan (2009). The implications of reform-oriented investment for regulation and governance. Critical Perspectives on Accounting, 20(3) pp. 399–417.

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Emergent practices of reform-oriented shareholder engagement are characterised as a professional social movement which gains credibility by influencing the institutional networks imbricating investors. The limitations of structuralist and atomistic tendencies in social movement analysis are resolved with an inductive, dialectical approach which is used to illustrate two cases of internal attempts to change investment policy at pension funds. Linkages are identified between organizational responses to pressure for change, and mobilization strategies of embedded proponents of change. The paper urges the involvement of governing boards in vehicles that promulgate reformist engagement, and identifies institutional networks as warranting greater regulatory attention.

Item Type: Journal Item
Copyright Holders: 2008 Elsevier Ltd.
ISSN: 1045-2354
Keywords: Pension funds; Governance; Social movements; Shareholder engagement; Financial services regulation
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Item ID: 50562
Depositing User: Matthew Haigh
Date Deposited: 17 Aug 2017 15:57
Last Modified: 11 May 2019 00:24
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