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The Role of Institutional Investors in Promoting Good Corporate Governance

image of The Role of Institutional Investors in Promoting Good Corporate Governance

This report presents the results of the second thematic peer review based on the OECD Principles of Corporate Governance. The report is focused on the role of institutional investors in promoting good corporate governance practices including the incentives they face to promote such outcomes. It covers 26 different jurisdictions, including in-depth reviews of Australia, Chile and Germany.

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Assessment and Recommendations

The proposition that shareholders can best look after their own interests subject to having sufficient rights and access to information is basic to the OECD Principles and domestic law in many jurisdictions. Nevertheless, at the time of the last revision of the OECD Principles of Corporate Governance in 2004, the need to deal with the emerging reality of large institutional shareholders was already apparent and led to several new principles being agreed by consensus, especially Principles II.F and II.G covering disclosure of voting policies, managing conflicts of interest and co-operation between investors. The Annotations to the Principles went on to note that,

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