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Money Talks: Institutional Investors and Voice in Contract

Theoretical inquiries in law, 2019-07, Vol.20 (2), p.511-535 [Peer Reviewed Journal]

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Title:
Money Talks: Institutional Investors and Voice in Contract
Author: Kreitner, Roy
Subjects: Institutional investments
Is Part Of: Theoretical inquiries in law, 2019-07, Vol.20 (2), p.511-535
Description: Contracts are the building blocks of markets, where participation is typically understood through choice: to buy or not to buy, and if so, from whom? In other words, contract choices allow participation by exit, with little need for discussion. However, in some instances markets may be open to a fair degree of voice. Market behavior is not always a take it or leave it endeavor, and market participation does not always entail the kind of passivity associated with the role of the price taker. At least when some contract parties put their minds to it, markets may retreat from the mechanics of pure preference satisfaction and interact with a realm of reasoned deliberation, where some market reasons are significantly public-minded. This essay explores the potential of contracts to become a locus of deliberative participation in the context of institutional investment (primarily by pension funds) and investors’ pursuit of commitments to nonfinancial goals.
Publisher: Tel Aviv: De Gruyter
Language: English
Identifier: ISSN: 1565-1509
EISSN: 1565-3404
DOI: 10.1515/til-2019-0020
Source: ProQuest Central

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