caa a22 4500 445862831 CHVBK 20180317145448.0 cr unu---uuuuu 170323e20111101xx s 000 0 eng 10.1007/s10997-010-9130-9 doi (NATIONALLICENCE)springer-10.1007/s10997-010-9130-9 The financial crisis, investor activists and corporate strategy: will this mean shareholders in the boardroom? [Elektronische Daten] [Coral Ingley, Jens Mueller, Graeme Cocks] The concept of stakeholder engagement is gaining increasing attention in the mainstream media and may feature as part of a corporation's strategy for corporate social responsibility. Not only are boards considering how they might engage with key stakeholders, but stakeholders are also pursuing greater participation in the strategic decisions of companies in which they invest. While this is an emerging concept in companies governed by unitary boards, as in North America, the issue of stakeholder engagement in various forms is also entering debate in other countries around the world. In general, however, the idea of shareholder or stakeholder representation on the boards of most UK and Commonwealth companies is anathema. Forces now influencing the development of strategies for stakeholder engagement and the rise of active investors include changing corporate governance rules which give investors more power in the election of directors, the increasing role of pension plans and hedge fund investment groups which have produced investors who keep a close eye on company performance and value, and a sluggish or turbulent stock market as a result of the financial crisis initiated by the credit crunch in the sub-prime mortgage markets. In this paper the phenomenon of stakeholder representation is examined and results of a recent survey conducted among a large sample of New Zealand directors are presented. The findings suggest that these traditionally oriented boards are increasingly inwardly focused and are without an agenda for building and managing shareholder and stakeholder relations. Accordingly, such boards are unlikely to regard stakeholder engagement as a serious strategic issue and are thus also likely to miss significant opportunities in the changed business environment to benefit from stakeholder support. Springer Science+Business Media, LLC., 2010 Shareholder activism nationallicence Board of directors nationallicence Financial crisis nationallicence New Zealand nationallicence Stakeholder relations nationallicence Ingley Coral Faculty of Business and Law, Auckland University of Technology, Private Bag 92006, 1142, Auckland, New Zealand aut Mueller Jens Waikato Management School, Hamilton, New Zealand aut Cocks Graeme Melbourne Business School, 200 Leicester St, 3053, Carlton, VIC, Australia aut Journal of Management & Governance Springer US; http://www.springer-ny.com 15/4(2011-11-01), 557-587 1385-3457 15:4<557 2011 15 10997 https://doi.org/10.1007/s10997-010-9130-9 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10997-010-9130-9 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Ingley Coral Faculty of Business and Law, Auckland University of Technology, Private Bag 92006, 1142, Auckland, New Zealand aut NATIONALLICENCE 700 1- Mueller Jens Waikato Management School, Hamilton, New Zealand aut NATIONALLICENCE 700 1- Cocks Graeme Melbourne Business School, 200 Leicester St, 3053, Carlton, VIC, Australia aut NATIONALLICENCE 773 0- Journal of Management & Governance Springer US; http://www.springer-ny.com 15/4(2011-11-01), 557-587 1385-3457 15:4<557 2011 15 10997 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer