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Organisers:
The LBS Centre for Corporate Governance, the Journal of Applied Corporate Finance and the European Corporate Governance Institute
Shareholder Activism in the United Kingdom
on Thursday 9th February 2006
at
The Royal College of Gynaecologists, Nuffield Hall, 27 Sussex Place, London, NW1 4RG
Investing institutions are viewed as critical to the exercise of effective corporate governance. Despite the importance of institutional activism, there is no hard evidence about the way in which institutional activism operates and the effects that it has on corporate performance in the UK. This seminar presents the results of a ground-breaking study of institutional activism in the UK. The study draws on a unique data set that for the first time provides precise evidence on the practice and effects of institutional activism. There will also be a roundtable discussion about activism involving some of the most prominent participants and commentators in the field from the financial and corporate sectors. The proceedings of the roundtable will be published in the Journal of Applied Corporate Finance.

 
Programme
 
   
5:00pm

Welcome
Laura D Tyson, Dean, London Business School
Juan Rada, Senior Vice President, Oracle Applications and Industries, Europe, Middle East & Africa
Antonio Borges, Chairman, European Corporate Governance Institute (ECGI); Vice-Chairman, Goldman Sachs International

5.15 pm

Presentation “Shareholder Activism in the UK”
Professor Marco Becht (ECARES, Université Libre de Bruxelles & ECGI) and
Professor Julian Franks
(London Business School & ECGI)
based on joint work with Professor Colin Mayer (Said Business School, University of Oxford & ECGI) and Professor Stefano Rossi (Stockholm School of Economics)

6.00pm A response by David Pitt-Watson, CEO, Focus Asset Management
6:10pm Panel Discussion: What are the benefits of shareholder activism?
Chaired by Professor Colin Mayer, Said Business School, University of Oxford & ECGI

Panel Members:
Sir Victor Blank, Chairman of GUS & Trinity Mirror
Brian Magnus, Managing Director, Morgan Stanley
Alastair Ross Goobey, Chairman, Hermes Focus Asset Management
Anita Skipper, Head of Corporate Governance, Morley Fund Management

7.00 pm Cocktails and Canapés

Graciously sponsored by