The problem I have with this analysis (besides my usual disagreement with the assumption that we want to goad investors to be more active) is that «stewardship» is just one form
of agency problem in the institutional investor context.
This seems to be another example
of the agency problem, wheremanagers take an action that benefits them, but harms shareholders.
Not exact matches
First, public companies have an «
agency problem,» the inherent conflict
of interest between executives wanting to create wealth for themselves and doing what's best for shareholders.
She is also the co-founder
of Rad Campaign, a web
agency that works with nonprofits to fight the world's toughest
problems, ranging from climate change to health care reform.
A former top TSA official explains why staffing errors and a host
of problems at the
agency are to blame for long security wait times.
There has been much debate about how blockchain could solve this
problem, but a recent Newsweek report detailing the example
of a home title being issued on the Ethereum blockchain showed a solution: It's only a matter
of time, the article said, before government
agencies start embracing blockchain as a valid alternative to existing title processes.
The pigeon initiative is the brainchild
of digital marketing
agency DigitasLBi, and won the «Solve a
Problem» category in Twitters #PoweredByTwitter competition last year.
In Italy, however, despite facing the same
problem of a declining population — in 2014, only 509,000 live births were recorded, the lowest number since the unification
of Italy in 1861, according to the country's statistics
agency, ISTAT — the broader economic backdrop is the source
of reluctance.
Hart said that the
problem of insider threats is as «old as the hills» and that every organization, from big businesses to the National Security
Agency, has to deal with the possibility.
Another
problem is that NASA earth science is more than people — it's buildings, systems, and machines that are now woven into the framework
of the space
agency and could not cheaply or efficiently be extracted.
Fairbanks said another
problem with Prop 61 is its linkage
of prices paid by state
agencies to the VA's price, which is not public information, and it is not clear if the state could compel disclosure.
So if you drew a horizontal line and call that fair value like Ben Graham said, and then you draw a wavy line around that horizontal line and call that stock prices, the market is pitching us opportunities all the time between stocks that are way below fair value and way above fair value, the reason investors don't beat the market has nothing to do with the market is not throwing us pitches in that it's not still emotional, they are behavioral
problem, there's
agency problems, there is a lot
of other issues going on but it's not because we're not getting really great pictures all the time.
Lutz - Christian Funke, executive director
of KfW, The World's Safest Bank for several consecutive years, discusses with GFMag editor Andrea Fiano Germany's political balancing act and economic stability, Europe's refugee
problem, and KfW's collaborations with other European banks and political
agencies.
The Smync Team is a group that built our platform and provides our services because we're an experienced team who knows the
problems all marketers face, knows there is a better way to do and is passionate about helping brands and
agencies build Social Brand Advocacy in this age
of social / mobile first, distrust
of marketing and the importance
of real business results from marketing.
With a clear four - step methodology to help readers move from idea to action, templates for readers to map out their
problems and the opposing ideas for solving them, and with practical and memorable stories, from music mogul Jay - Z, to the founder
of Vanguard Group, Creating Great Choices was written with MBA students, business managers, non-profit and government
agency leaders, teachers, and even elementary school students in mind.
So returning to the
problem of the credit rating
agencies, how can anyone believe that agreeing to pay an unpayably high debt would improve Iceland's credit rating?
The real
problem with retrospective review
of rules is that it prevents
agencies from moving forward to protect the public from new and unregulated hazards.
These include the
problem of public communication, where the public is likely to be more understanding
of inflation than the more nebulous concept
of nominal growth, as well as the
problem that nominal income is often subject to sizeable revision by the statistical
agency.
We develop an analytical framework for examining these
agency problems and apply it to study several key types
of investment managers.
Activist hedge funds have substantially better incentives than managers
of index funds or active mutual funds, but their activities do not provide a complete solution for the
agency problems of institutional investors.
Bebchuk, Lucian A. and Cohen, Alma and Hirst, Scott, The
Agency Problems of Institutional Investors (June 1, 2017).
While corporate ownership is now concentrated in the hands
of institutional investors that can exercise stewardship
of those corporations that would be impossible for dispersed shareholders, the investment managers
of these institutional investors have
agency problems vis - à - vis their own investors.
Rep. Chris Taylor, D - Madison, noted the
agency has been plagued by reports
of problems for the past year, yet the Legislature hasn't made any changes.
Robert E. Lighthizer, the U.S. trade representative, has also blamed some
of the
problems with the talks on a «whole complicated process» that requires negotiators to clear positions with members
of Congress and officials at other
agencies.
Commerce Secretary Mike Gill said some
of the changes the
agency is seeking this year are a response to the
problems those reports highlighted.
Of the three major ratings agencies, only Moody's Investors Service has indicated that Illinois lawmakers» lack of long - term solutions for reducing that debt is a severe proble
Of the three major ratings
agencies, only Moody's Investors Service has indicated that Illinois lawmakers» lack
of long - term solutions for reducing that debt is a severe proble
of long - term solutions for reducing that debt is a severe
problem.
Mr. Keller says the CFP Board hadn't been aware
of the
problem earlier because the board, which lacks the powers
of a regulatory
agency, expects that CFPs «accurately disclose their compensation, know our rules and follow our rules.»
As a result, the government took a number
of initiatives to prevent similar
problems, including the creation
of the National Asset Management
Agency (NAMA).
In addition to agreeing formally to the refunds, JPMorgan agreed in consent orders with the
agencies to pay a total
of $ 80 million in civil penalties for the violations and fix the
problems.
Any company whose business depends on providing goods or services to local, state or federal government
agencies has experienced one or more
of the following cash flow
problems:
«For that reason and to avoid collections
problems, we focused on growing our customer base
of government
agencies who paid us on regular cycles.»
Cryptocurrencies are digital means
of exchange which are created by the solution
of complex Mathematical
problems, and which are used to effect peer - to - peer transactions without the control
of a centralised government
agency.
WASHINGTON — As a top Veterans Administration official in the Obama administration, current Secretary David Shulkin took no action to fix longstanding
problems of dirty syringes and equipment shortages that put patients at risk at a major veterans hospital, according to an investigation released Wednesday that finds «failed leadership» and a «climate
of complacency» at the
agency.
Whatever Bernanke's motivations may be, the essential
problem is that the question
of his objectivity must be raised at all, and it must, because the Fed is no longer a non-political entity, though it still enjoys protection from the accountability any political
agency should bear.
While the Churches were busy creating new
agencies and institutions to handle the new
problems of the city, they were not overlooking their regular activities in reform and publication.
One serious
problem in the area
of recombinant DNA research is, however, that drug companies and government
agencies are as much involved as are university professors.
Its four - part series «Hunger in Africa» (November 27 - 30, 1984), which concluded with a list
of relief
agencies to which donations could be sent, and the recent series «Exiles Among Us: Poor and Black in America» (November 13 - 20, 1986) are instances in which it has contributed significantly to public understanding
of social
problems.
The specific purpose
of the church Eddy founded is to be an effective
agency for the spiritual awakening upon which, as Christian Scientists see it, the solution
of humanity's manifold
problems ultimately rests.
The Catholic News
Agency quotes him as follows: ««The main
problem that we have today in the ecumenical dialogue with all the Protestant» communities... is the lack
of «a common vision
of the goal
of the ecumenical movement.
This
problem today is engendered and sustained by virtually every institution responsible for the creation
of the built environment: the real estate development industry; the construction industry; federal, state and local regulatory
agencies; the rule -
of - thumb manuals
of transportation engineers; the lending policies
of banks; the professions
of architecture and planning; the patrons
of architecture; and above all the zoning ordinances that regulate where and how buildings get built.
Third, in his argument that computation can not produce intelligent
agency, Mr. Dembski fails to note that we have only begun to explore analog computation, which mimics the way simple neural systems process information, and quantum computation, whose method
of solving
problems mimics a «leap
of intuition.»
But can we not seek unity in a way that will help us transcend our particular North American
problems, that will deliver us from decades
of tinkering with boards,
agencies, jurisdictions and pension funds?
The
problem of causal
agency, i.e., the question
of whether it is the larger social whole or the individual constituent which is the primary efficacious factor in society, is also relevant metaphysically.
How to hold together these two pictures
of divine
agency, noncompetitive and interactive, is a deep
problem for Christian theology.
The
problems of euthanasia and assisted suicide point us to deeper spiritual questions: questions
of human identity,
agency, control, finitude, and humility before the aspects
of reality that truly transcend human existence.
Sources
of literature and guidance include local Councils on Alcoholism, the National Council on Alcoholism, and denominational social
problems agencies.
Tried to promote consideration
of alcoholism as a public health
problem with local council
of social
agencies and state council
of social welfare.
Agencies of social concern in the Churches were attacked as exceeding their authority in publishing statements on such
problems as race relations or economic inequality.
And, indeed, few would deny that, as so many
of our
problems become global in scope, increased power in the hands
of global
agencies is essential.
It was not a new organic Church but a council or
agency of co-operating Churches uniting on a common profession
of Jesus Christ as divine Lord and Saviour, in order to carry on co-operative activities and discussions in such things as home missions
problems, Christian education, foreign missions, and other activities.