Institutional investors play a crucial, yet paradoxical, role in activist campaigns. With their significant holdings, large quot;mainstreamquot; institutional investors - pension funds, insurance companies, and their asset managers - can often determine the success or failure of these crusades....

The need for well-functioning boards is especially urgent in emerging markets because institutions that wish to promote good corporate behavior are often weak there. But since directors and shareholders in these regions face unique challenges, the wholesale adoption of Western corporate...

This article examines the principal uses and key design characteristics of a corporate governance code, the essential attributes that have contributed to the successful implementation and enforcement of governance codes in the United Kingdom, and the unique challenges facing emerging markets in...