Stewardship Policies. A Survey of the Main Issues

Marco Fanari (), Enrico Bernardini (), Elisabetta Cecchet (), Francesco Columba, Johnny Di Giampaolo (), Gabriele Fraboni (), Donatella La Licata (), Simone Letta (), Gianluca Mango () and Gabriele Fraboni ()
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Marco Fanari: Bank of Italy
Enrico Bernardini: Bank of Italy
Elisabetta Cecchet: Bank of Italy
Johnny Di Giampaolo: Bank of Italy
Gabriele Fraboni: Bank of Italy
Donatella La Licata: Bank of Italy
Simone Letta: Bank of Italy
Gianluca Mango: Bank of Italy
Gabriele Fraboni: Bank of Italy

No 65, Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) from Bank of Italy, Directorate General for Markets and Payment System

Abstract: Stewardship, which encompasses shareholder voting activities and engagement with company management, can strengthen the role of investors in steering companies towards long-term value creation. As investors have increasingly integrated ESG considerations into their investment strategies, stewardship activities have been used to encourage companies to address, among others, sustainability issues. The paper focuses on stewardship practices in a sample of asset managers and, to a lesser extent, on central banks. The survey suggests that a ‘one size fits all’ approach to stewardship is not adequate to meet the goals of the different investors, due to the potentially different assessment of the trade-offs involved.

Keywords: Central banks; Engagement; Institutional investors; Stewardship; Voting. (search for similar items in EconPapers)
JEL-codes: E58 G11 G18 G21 G23 G32 (search for similar items in EconPapers)
Date: 2025-10
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wpmisp:mip_065_25

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