Abstract:Changes made as a result of publishing processes such as copy-editing, formatting and page numbers may not be reflected in this version. For the definitive version of this publication, please refer to the published source. You are advised to consult the publisher's version if you wish to cite this paper.
“…Critics have charged that progress has been mixed and that most of the oil and gas majors continue to invest in controversial projects such as arctic drilling and fracking (Ivanova, 2016 ). However, such investments may end up as “stranded assets” as a growing number of investors shun the sector, prompted by ethical or commercial concerns.…”
Section: Illustrations Of Organizations Coping With Long-term Energy mentioning
International business and management (IB/IM) scholars are increasingly calling for more research attention to subject matter that incorporates global-scale issues (Buckley, Doh, & Benischke, 2017). These calls have frequently focused on societal “grand challenges” that transcend discrete geographical locations and well-defined (typically short) time periods. The present long-term energy transition (LTE), characterized by a shift away from hydrocarbons and towards renewables, represents an important example of a multi-level, multi-actor global challenge that unfolds at the interface of business and society, and requires employing multiple conceptual lenses to process and understand. Researchers addressing such multi-faceted complex problems face a range of challenges related to theorizing, framing, modeling, and ultimately conducting empirical studies. Based on our collective work as IB scholars and journal editors, in this Perspective article we identify some of the challenges long-term energy transitions pose, reflect on how those challenges can be conceptualized, offer potential responses, and propose a future research agenda.
“…Critics have charged that progress has been mixed and that most of the oil and gas majors continue to invest in controversial projects such as arctic drilling and fracking (Ivanova, 2016 ). However, such investments may end up as “stranded assets” as a growing number of investors shun the sector, prompted by ethical or commercial concerns.…”
Section: Illustrations Of Organizations Coping With Long-term Energy mentioning
International business and management (IB/IM) scholars are increasingly calling for more research attention to subject matter that incorporates global-scale issues (Buckley, Doh, & Benischke, 2017). These calls have frequently focused on societal “grand challenges” that transcend discrete geographical locations and well-defined (typically short) time periods. The present long-term energy transition (LTE), characterized by a shift away from hydrocarbons and towards renewables, represents an important example of a multi-level, multi-actor global challenge that unfolds at the interface of business and society, and requires employing multiple conceptual lenses to process and understand. Researchers addressing such multi-faceted complex problems face a range of challenges related to theorizing, framing, modeling, and ultimately conducting empirical studies. Based on our collective work as IB scholars and journal editors, in this Perspective article we identify some of the challenges long-term energy transitions pose, reflect on how those challenges can be conceptualized, offer potential responses, and propose a future research agenda.
“…The majority of the papers in the first category are related to MNE-NGO collaborations (e.g. Herlin & Solitander, 2017;Marano & Tashman, 2012), and NGOs' campaigning strategies (Ivanova, 2016;Reis & Guedes, 2017).…”
This chapter aims at taking stock of business-responsibility-related studies in international business (IB) research. Key features of this literature review include (1) a broad search strategy capturing both positive and negative aspects of responsibility, (2) not imposing any constraints on the time period, and (3) extending the search to all IB journals included in the Web of Science database. By incorporating both responsible and irresponsible behavior in the search strategy, we are able to provide a holistic map of responsibility-related research in IB.
“…Public activism in the form of AGM attendance and filing of shareholder resolutions is one avenue for escalating an engagement. It is much more frequently used in the United States compared to the UK due to a regulatory system which facilitates access to corporate proxy statements (Louche & Lydenberg, ) and to cultural differences between UK and transatlantic investors (Ivanova, ). This failure to go beyond private dialogue could be explained by a lack of experience in other forms of shareholder activism: To go to an AGM to ask a question you got to know what you do, how you do that, if you are going to table a resolution at an AGM, knowing how to present a resolution ( Fieldwork Interview , asset owner, 2013).…”
Section: Challenges To the Effective Monitoring Of The Corporation: Ementioning
confidence: 99%
“…However, there are researchers who argue that investors do not engage with investee companies enough (Black, ), preferring to, in cases when monitoring is costly or time consuming, respond to a poor performance by just selling their shares (Coffee, ; Manconi et al, ). Ivanova () explores some of the reasons why this trend is more pronounced in the UK than in the United States. Davis () and Jackson () observe an ownership paradox related to shareholders, whereby large institutions have traditionally adopted a passive approach and have refrained from challenging management's decisions.…”
Section: Introductionmentioning
confidence: 99%
“…These activities encompass not only shareholder voting at annual general meetings (AGMs) and filing of shareholder resolutions (Sparkes, ), but also informal dialogue (or engagement) with corporate executives (Sparkes & Cowton, ), asking questions at an AGM, letter writing and publicity campaigns. In reality, monitoring and shareholder activism do not rely on a single strategy, but often involve a combination of key activities (see Ivanova, ). Therefore, the definition used in the study comprises investor actions that involve both private dialogue and public confrontation.…”
The study explores the challenges UK-based institutional investors face when trying to monitor investee companies and influence their social, environmental, and governance practices. Consistent with previous research, I find that misalignment of interests within the investment chain and dispersed ownership are factors which inhibit investor activism. However, other underexplored challenges include lack of investee company transparency and investor experience in activism, as well as low client demand for engagement and internal conflicts of interest. The results contribute to the literature on institutional investor activism by using direct empirical evidence to systematically discuss the challenges to stewardship. Given the intensification of media and regulatory attention on shareholders in the post-global financial crisis era, coupled with investors' growing awareness and practice of stewardship, the research opens new avenues for enquiry which go beyond the on-going debate about the monitoring versus short-termism roles of institutional investors.
| INTRODUCTIONThe global
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