The Role of Institutional Investors in Curbing Corporate Short-Termism
探讨机构投资者为何不积极参与代理权争夺，并提出几种支持长期价值创造的投资者参与形式，建议机构投资者应主动参与对冲基金活动以促进长期增长。
Institutional investors are the majority owners of most publicly traded companies but allow activist hedge funds with smaller positions to push through corporate changes. The author offers various reasons why institutional investors may be reluctant to actively participate in proxy fights but then suggests several practical forms of investor engagement that support long-term value creation. So, in future campaigns by hedge funds, institutional investors should actively participate to ensure that the outcome promotes long-term growth instead of temporary price spurts.