| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 631.81 KB | Adobe PDF |
Advisor(s)
Abstract(s)
A presença cada vez mais forte dos investidores institucionais no mercado justifica que se apreciem as consequências que dela resultam, não só para o sistema, como para a sociedade no geral. Sem prejuízo das vantagens que estes investidores trouxeram para o mercado, maxime a facilitação de financiamento, é certo que há registo de desfechos desastrosos resultantes da política de atuação destas entidades. O presente estudo centrará a sua atenção, num primeiro momento, na contextualização do leitor na esfera dos efeitos negativos advindos da política de investimento de curto prazo. Num segundo momento, abordará o ativismo acionista, o qual é apontado, pela doutrina, como uma potencial solução para a prevenção desses mesmos efeitos. Finalmente, num terceiro ponto, refletirá sobre soluções alternativas avançadas pela doutrina nacional e internacional.
The increasing presence of institutional investors in the market justifies the weighting of the consequences that result from it, not only for the system, but for society in general. Notwithstanding the advantages that these investors have brought to the market, for instance in providing an alternative to bank financing, it is certain that there are records of disastrous outcomes for which the investment policy of these entities are held accountable. The present study focuses, at first, on the reader's contextualization in the negative effects arising from the short-term investment policy. Further, it addresses shareholder activism, which is pointed out as a potential solution for the prevention of those same effects. Finally, the study reflects on alternative solutions that national and international doctrine have thought through.
The increasing presence of institutional investors in the market justifies the weighting of the consequences that result from it, not only for the system, but for society in general. Notwithstanding the advantages that these investors have brought to the market, for instance in providing an alternative to bank financing, it is certain that there are records of disastrous outcomes for which the investment policy of these entities are held accountable. The present study focuses, at first, on the reader's contextualization in the negative effects arising from the short-term investment policy. Further, it addresses shareholder activism, which is pointed out as a potential solution for the prevention of those same effects. Finally, the study reflects on alternative solutions that national and international doctrine have thought through.
Description
Keywords
Investidor institucional Acionista minoritário Ativismo acionista Short-termism Envolvimento a longo prazo Ação de lealdade Institutional investor Minority shareholder Shareholder activism Long- term engagement Loyalty share