果冻影院

厂辫别补办别谤:听听(King's College London)
Chair:听(hon) (University of Oxford)

About the lecture

Institutional investors, functioning as stewards, exercise power and influence on behalf of their clients and/or beneficiaries. Yet, an often overlooked but fundamental distinction exists: the 鈥榦thers鈥� on whose behalf investor stewards act are not necessarily the same as the others for whom they are expected to act. By employing a heuristic encompassing听multiple stewardship relationships听within the investment chain, we can delve deeper into the 鈥榦thers鈥� at play. Distinguishing between听client stewardship,听end-investor stewardship,听asset stewardship, and听enlightened stewardshipprovides a comprehensive view of how investor stewards navigate their responsibilities: investor stewards act on behalf of their clients and/or beneficiaries while serving a broader spectrum of stakeholders, including the end investors, the investable assets, and the broader economy, environment, and society. However, a notable challenge emerges as stewardship relationships beyond client stewardship operate outside the domain of hard law. Here, stewardship codes can bridge this regulatory gap, working alongside numerous national and international instruments that impact investor behaviour. To elucidate the intricacies of such a gap-filling role, a typology of investor stewardship is presented, considering the complex听levels,听actors,听assets,听means听and听themes听of investor stewardship. The anatomy of investor stewardship underscores the imperative to broaden considerations beyond immediate clients and/or beneficiaries, ultimately advancing the scholarly debate and informing policymaking.

听or view it below

YouTube Widget Placeholder

听

About the speaker

Dionysia Katelouzou (PhD) is a Reader (Associate Professor) of Corporate Law at The Dickson Poon School of Law, King鈥檚 College London. She has a substantial publication record in peer-reviewed journals and edited books and presented her work internationally to diverse audiences. Her current research focuses on how institutional investors express and practice stewardship at domestic, regional, international, and transnational levels, combining socio-legal analysis with听empirical methods. One of her notable contributions is the co-editing of the Cambridge University Press Handbook (CUP)听Global Shareholder Stewardship: Complexities, Challenges & Possibilities, with Prof Dan Puchniak, which is widely considered the most authoritative work in shareholder stewardship. Dr Katelouzou鈥檚 forthcoming sole-authored monograph,听Institutional听Shareholders and Corporate Governance: The Path to Enlightened Stewardship听(CUP 2024) offers a theory of investor stewardship and a comprehensive analysis of stewardship statements, questioning whether institutional shareholders are adequately equipped and structured to serve wider public interests. Dr Katelouzou leads the ECGI-supported听Global Investor Stewardship听project (see here), consisting of more than 140 academic and non-academic members across 27 jurisdictions around the world. She has received the British Academy Mid-Career Fellowship Award 2022, along with numerous smaller听grants听and conducted commissioned research for the Financial Reporting Council. In 2020, she was awarded the听Cleary Gottlieb Steen & Hamilton LLP prize听for the best ECGI Law Working Paper for her co-authored paper, 鈥淭he Global Diffusion of Stewardship Codes鈥�.

听

About Current Legal Problems

The Current Legal Problems (CLP) lecture series and annual volume was established over fifty five years ago at the Faculty of Laws, 果冻影院 and is recognised as a major reference point for legal scholarship.

Book your place

You can attend this event in-person at 果冻影院 Faculty of Laws (Bentham House,听4-8 Endsleigh Gardens,听London听WC1H 0EG) or alternatively you can join via a live stream.

Please make sure you choose the correct ticket when booking your place.

听

Image by听听from听