Title: The rise of fiduciary capitalism : how institutional investors can make corporate America more democratic /
Authors: Hawley, James P., 1944-; Williams, Andrew T., 1943-
Publisher: University of Pennsylvania Press,
Year: 2000
Subjects: Institutional investments United States.; Stockholders United States.; Capitalism United States; Democracy United States
Abstract: "The Rise of Fiduciary Capitalism chronicles the rise of fiduciary institutions - primarily public and private pension funds - which now own almost 50 percent of the equity of American corporations. In turn approximately 50 percent of Americans either own stock individually or more typically have an ownership or retirement interest in these instructions. Hawley and Williams argue that, because of their extensive diversification of ownership, fiduciary institutions have become "universal owners" with a significant stake in a broad cross-section of the largest publicly traded firms in the economy."--Jacket.