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Record W3125601611

Active Shareowner Stewardship: A New Paradigm for Capitalism

2009· article· en· W3125601611 on OpenAlexvenueno aff
Stephen Davis

Bibliographic record

VenueRotman International Journal of Pension Management · 2009
Typearticle
Languageen
FieldSocial Sciences
TopicGlobal History, Politics, and Ideology
Canadian institutionsnot available
Fundersnot available
KeywordsInstitutional investorBusinessPensionFinanceGlobal assets under managementHedge fundAccountabilityCorporate governanceAccountingEconomics
DOInot available

Abstract

fetched live from OpenAlex

Retirement plans around the world poured the collective savings of millions of employees into the common stock of banks, corporations, and Wall Street ventures that recklessly over-compensated Chief Executive Officers, engineered artificial short-term gains, and gambled fatally with risk. Why did this happen? The financial system needs the oversight of vigilant market participants, but in this case many pension funds, mutual funds, hedge funds, insurance funds, and other major investors were silent. Conventional investment theory about diversification also played a part; while intending to control specific risks, it had the unintended side effect of increasing risk overall. What are the root causes of these failures to exercise vigilance? Studies increasingly point to at least one important factor: flaws in investors’ own accountability. The essence of an effective financial system is that the entities in it, including pension funds, are responsible for their actions. Responsibility implies a willingness to be accountable, and that in turn requires an integrated, active approach to exercising shareowner stewardship. This article proposes a series of practical steps to that end.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.000
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Not applicable · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: none
Teacher disagreement score0.794
Threshold uncertainty score0.362

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0000.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0000.000
Science and technology studies0.0000.000
Scholarly communication0.0000.000
Open science0.0010.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0000.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.030
GPT teacher head0.345
Teacher spread0.315 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designNot applicable
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations6
Published2009
Admission routes1
Has abstractyes

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