회사지배구조와 기관투자자의 역할 = Role of Institutional Investor in Corporate Governance

다국어 초록 (Multilingual Abstract)

Institutional investor is defined as an organization that trades large volumes of securities. It has some characteristics differing from the small investor and large individual investor. Because of its duties to the beneficiaries, the size of its holdings and the expertise of its staffs, its has an incentive to improve corporate monitoring and performance. It is more likely to exercise the voting rights with a systematized method of voting. The rise of the institutional investor has led to a reexamination of the structure of corporate of governance. Numerous factors interact and coalesce to compel institutional shareholders to expand their involvement in corporate governance issues. Corporate governance refers to the relationship among various participants(the shareholders, the management and the board of directors) in determining the direction and performance of corporations. This article aims to analyze the control structure of the corporation, the methods to minimize the cost of agency, the factors that has restrained the role of institutional investor and the measures to improve the corporate governance by institutional shareholder activism. I come to a conclusion that the institutional investor will play a important role in improving corporate governance and