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Analyst argues against shareholder activism

An investment analyst is claiming that shareholder activism can stifle enterprise and damage returns for investors.

A book by Dr Arjuna Sittampalam, entitled Corporate Governance Activism – Desirable Doctrine or Damaging Dogma?, argues that widespread shareholder activism is bad for the economy.

Sittampalam is critical that institutional investors and fund managers are increasingly intervening in the management and strategy of companies in which they invest.He suggests that intervention detracts from market liquidity and efficiency, reduces savers’ trust in institutions and could increase insider dealing.

He says: “All those concerned with fostering enterprise and business efficiency, including politicians, regulators and corporate bodies, need to ensure activism does not adversely affect industry and the long-term vitality of the economy.”


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