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FRONT COVER -- INSTITUTIONAL INVESTORS’ POWER TO CHANGE CORPORATE BEHAVIOR: INTERNATIONAL PERSPECTIVES -- COPYRIGHT PAGE -- CONTENTS -- LIST OF TABLES -- LIST OF FIGURES -- LIST OF CONTRIBUTORS -- EDITORIAL ADVISORY AND REVIEW BOARD -- ABOUT THE EDITORS -- ABOUT THE AUTHORS -- ACKNOWLEDGMENTS -- PART I: INTRODUCTION -- INSTITUTIONAL INVESTORS’ POWER TO CHANGE CORPORATE BEHAVIOR: AN INTRODUCTION -- ORIGIN AND PURPOSE -- DISTINCTIVE APPROACHES TO INVESTIGATING INSTITUTIONAL INVESTORS’ BEHAVIOR -- INTERNATIONAL COMPARATIVE STUDY USING MULTIPLE THEORETICAL FRAMEWORKS -- THEMES -- CONCLUSION -- NOTES -- REFERENCES -- PART II: THE POWER OF INSTITUTIONAL INVESTORS IN PROMOTING A SUSTAINABILITY AGENDA -- ORGANIZING THE COLLECTIVE ACTION OF INSTITUTIONAL INVESTORS: THREE CASE STUDIES FROM THE PRINCIPLES FOR RESPONSIBLE INVESTMENT INITIATIVE -- INTRODUCTION -- PART 1 – THE ORGANIZATION OF INSTITUTIONAL INVESTORS’ COLLECTIVE ACTION: A THEORETICAL FRAMEWORK -- HOW DO INSTITUTIONAL INVESTORS COLLECTIVELY INFLUENCE CORPORATIONS ON ESG ISSUES? -- HOW ENABLING ORGANIZATIONS SUPPORT INSTITUTIONAL INVESTORS’ COLLECTIVE ACTION? -- PART 2 – CONTEXT, METHOD AND DATA: THE PRINCIPLE FOR RESPONSIBLE INVESTMENT INITIATIVE CONTEXT -- DATA ANALYSIS -- FACILITATING COLLECTIVE ACTION EMERGENCE -- PART 3 – EVALUATING THE FRAMEWORK ACROSS THREE CASE STUDIES -- SUPPORTING COLLECTIVE ACTION DEPLOYMENT -- MAINTAINING CONDITIONS FOR COLLECTIVE ACTION -- PART 4 – DISCUSSION AND IMPLICATIONS -- ACKNOWLEDGEMENT -- REFERENCES -- RESPONSIBLE INVESTMENT, ESG, AND INSTITUTIONAL INVESTORS IN AUSTRALIA -- RESPONSIBLE INVESTMENT IN AUSTRALIA -- INSTITUTIONAL INVESTORS ENGAGEMENT -- METHOD -- FINDINGS -- DISCUSSION AND CONCLUSION -- REFERENCES -- CORPORATE CLIMATE CHANGE DISCLOSURE PRACTICES AND REGULATION: THE INFLUENCE OF INSTITUTIONAL INVESTORS -- INTRODUCTION -- INFLUENCE OF INSTITUTIONAL INVESTORS ON CLIMATE CHANGE DISCLOSURES -- INFLUENCE OF INSTITUTIONAL INVESTORS ON REPORTING REQUIREMENTS AND GUIDELINES -- INVESTOR USE OF CLIMATE CHANGE INFORMATION -- CONCLUSIONS AND FUTURE RESEARCH DIRECTIONS -- REFERENCES -- FINANCIALIZATION OF CORPORATE OWNERSHIP AND IMPLICATIONS FOR THE POTENTIAL FOR CLIMATE ACTION -- INTRODUCTION -- ISSUES -- DATA AND METHODOLOGY -- QUESTIONS AND HYPOTHESES -- CONCLUSIONS -- ACKNOWLEDGMENTS -- REFERENCES -- SOCIAL AND ENVIRONMENTAL SHAREHOLDER RESOLUTIONS: INVESTOR ACTIVISM AND CORPORATE COMPROMISES -- INTRODUCTION -- INSTITUTIONAL PRESSURES -- METHODOLOGY -- EMPIRICAL RESULTS -- DISCUSSION -- CONCLUSION -- NOTE -- ACKNOWLEDGMENTS -- REFERENCES -- INSTITUTIONAL INVESTORS, FIRM PERFORMANCE, AND THE PROSPECTS FOR SOCIALLY RESPONSIBLE INVESTING: EVIDENCE FROM NEW ZEALAND -- NATURE OF INSTITUTIONAL INVESTORS AND GENERAL SIGNIFICANCE FOR ETHICALLY/SOCIALLY RESPONSIBLE GOVERNANCE -- NEW ZEALAND CAPITAL MARKET AND REGULATORY DEVELOPMENTS AND IMPLICATIONS FOR THE ROLE OF INSTITUTIONAL INVESTORS -- INSTITUTIONAL INVESTORS AND RESPONSIBLE INVESTING: CONCEPTS, EVIDENCE, AN.
D PROPOSITIONS -- CAN INSTITUTIONAL INVESTORS MAKE A DIFFERENCE? EVIDENCE ON FINANCIAL IMPACT -- DATA -- RESULTS -- CONCLUSION -- NOTES -- REFERENCES -- PART III: LEGAL, REGULATORY AND CULTURAL FRAMEWORKS FOR EXERCISING INSTITUTIONAL INVESTORS’ POWER -- STRATEGIC RESPONSES TO NEW INSTITUTIONAL PRESSURES: THE CASE OF INSTITUTIONAL INVESTOR ACTIVISM IN FRANCE -- STRATEGIC RESPONSES TO INSTITUTIONAL PRESSURES -- METHOD -- CONCLUSION -- NOTES -- REFERENCES -- INSTITUTIONAL INVESTORS: ACTIVE OWNERSHIP THROUGH NOMINATION COMMITTEES -- INTRODUCTION -- LAW AND PRACTICE IN SCANDINAVIA -- DATA -- SHAREHOLDER ACTIVISM -- THE NOMINATION COMMITTEE -- DISCUSSION -- NOTES -- REFERENCES -- APPENDIX: SUMMARY OF LEGAL SIMILARITIES AND DIFFERENCES -- BANKING FOUNDATIONS AND THE CSR OF ITALIAN LISTED BANKS: THE CASE OF MONTE DEI PASCHI DI SIENA -- INTRODUCTION -- THE RELATION BETWEEN INSTITUTIONAL INVESTORS AND CSR POLICIES -- THE OWNERSHIP STRUCTURE OF THE ITALIAN LISTED BANKS -- THE CASE OF THE MPS BANK -- CONCLUSIONS -- NOTES -- REFERENCES -- THE DEVELOPMENT OF SRI IN CHINA -- CSR ISSUES IN ASIA AND THE POWER OF ASIAN SRI -- TRAVEL OF IDEAS IN TERMS OF IMITATION AND LOCAL ADAPTATIONS -- CHINESE CULTURAL HERITAGE -- METHODOLOGY -- CHINESE FINANCIAL MARKET -- SRI INITIATIVES IN CHINA -- THE TRAVEL OF SRI IDEAS INTO CHINA -- CONCLUSIONS -- POTENTIAL CARRIERS FOR FURTHER TRANSLATION -- NOTES -- REFERENCES -- PART IV: IMPEDIMENTS TO INSTITUTIONAL INVESTORS’ PROMOTION OF THEIR SUSTAINABILITY AGENDA -- INSTITUTIONAL INVESTOR SUPPORT FOR CLIMATE CHANGE RESOLUTIONS: A NEW CHALLENGE TO CAPITALISM OR CO-OPTED ACTIVISM? -- INTRODUCTION -- INSTITUTIONAL THEORY -- RESPONSIBLE INVESTMENT NORMS -- INSTITUTIONAL LOGICS -- CONFLICTING LOGICS -- INSTITUTIONAL CHANGE -- LEGITIMACY -- SUMMARY -- METHOD -- THE CASE -- CONCLUSION -- NOTES -- ACKNOWLEDGMENT -- REFERENCES -- APPENDIX A: LIST OF ARTICLES -- APPENDIX B: THE RESOLUTION -- THE ROLE OF SOCIAL PERFORMANCE IN MICROFINANCE INVESTMENT DECISIONS -- INTRODUCTION -- MICROFINANCE INVESTMENT VEHICLES AND THE DOUBLE BOTTOM LINE -- SOCIALLY RESPONSIBLE INVESTMENTS: METHODS, IMPACTS, AND IMPEDIMENTS -- WHAT ARE THE IMPEDIMENTS TO THE INTEGRATION OF SOCIAL PERFORMANCE IN INVESTMENT DECISIONS? INSIGHTS FROM MICROFINANCE FUND MANAGERS -- DISCUSSION AND CONCLUSION -- NOTES -- ACKNOWLEDGMENTS -- REFERENCES -- APPENDIX A: ANALYSIS FRAMEWORK OF THE IMPEDIMENTS TO SRI -- APPENDIX B: CHARACTERISTICS OF THE SAMPLE -- ESG: FROM NEGATIVE SCREENING TO HUMAN CAPITAL ANALYSIS -- INTRODUCTION -- THE POWER OF INSTITUTIONAL INVESTORS TO INFLUENCE SRI -- INTERNAL AND EXTERNAL PERSPECTIVES OF FIRM VALUE CREATION -- CLARIFYING THE “S” IN ESG INVESTING -- THE S IN ESG – WHAT AND HOW TO MEASURE? -- HUMAN CAPITAL RISK AND INCOMPLETE ESG REPORTS: LEHMAN BROTHERS 2008 -- CONCLUSION – THE FUTURE POWER OF INSTITUTIONAL INVESTORS -- REFERENCES -- APPENDIX A: UNPRI -- APPENDIX B: SUSTAINABLE STOCK EXCHANGES INITIATIVE PRESS RELEASE -- APPENDIX C: FIVE CORE RECOMMENDA.
TIONS FOR POLICY MAKERS ON MANDATORY INTEGRATED SUSTAINABILITY REPORTING -- A MOTIVATION PUZZLE: CAN INVESTORS CHANGE CORPORATE BEHAVIOR BY CONFORMING TO ESG PRESSURES? -- INTRODUCTION -- DOMINANT ASSUMPTIONS IN THE SUSTAINABLE INVESTMENT LITERATURE -- THE USE OF ESG INFORMATION THROUGH A SENSEMAKING LENS -- SENSEGIVING CAPACITIES AND MOTIVATIONS TO DEMONSTRATE CONFORMANCE -- DO CONFORMANCE MOTIVATIONS RESULT IN LASTING CORPORATE CHANGE? -- CONCLUSION -- NOTES -- REFERENCES -- PART V: CORPORATE RESPONSES TO INSTITUTIONAL INVESTORS’ PROMOTION OF THEIR SUSTAINABILITY AGENDA -- PROACTIVE INVESTOR RELATIONS: HOW CORPORATIONS RESPOND TO PRESSURES FROM SOCIAL RESPONSIBILITY INVESTORS -- COMMUNICATION TO SOCIAL RESPONSIBILITY INVESTORS -- THE IMPORTANCE OF THE CSP INFORMATION CHANNEL IN THE CSP–CFP RELATIONSHIP -- SRI ANALYSTS AND INVESTORS’ PRESSURE FOR RELEASE OF CSP INFORMATION -- METHODOLOGY -- THREE CASE EXAMPLES OF IRO RESPONSES TO SRI PRESSURES -- CONCLUSION -- ACKNOWLEDGMENT -- REFERENCES -- APPENDIX: THE ROLE OF THE IRO IN CORPORATE SOCIAL RESPONSIBILITY (CSR)/SUSTAINABILITY -- .