Owners, traders and providers of capital: the multiple faces of institutional investors

John Roberts, Paul Sanderson, John Hendry and Richard Barker

Working Papers from Centre for Business Research, University of Cambridge

Abstract: We draw on a series of in-depth interviews with senior fund managers and senior company executives to explore how different and often-contradictory conceptualizations of institutional investors, their role in the corporate governance process, and their interactions with corporate management, are reflected in the attitudes and perceptions of the actors concerned. We find that while conceptualizations in terms of agency and ownership dominate both academic and popular discourses, the actors conceptualize institutional investors more as financial traders and, from the management perspective, politically powerful resource providers.

Keywords: corporate governance; institutional investors; power; resource dependence; shareholder value. (search for similar items in EconPapers)
JEL-codes: G1 G2 G30 (search for similar items in EconPapers)
Date: 2004-12
New Economics Papers: this item is included in nep-acc
Note: PRO-2
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Persistent link: https://EconPapers.repec.org/RePEc:cbr:cbrwps:wp296

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