Quality Shareholders
How the Best Managers Attract and Keep Them
by Lawrence A. Cunningham
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Pub Date Nov 03 2020 | Archive Date Feb 10 2021
Columbia University Press | Columbia Business School Publishing
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Description
Lawrence A. Cunningham offers an expert guide to the benefits of attracting and keeping quality shareholders. He demonstrates that a high density of dedicated long-term shareholders results in numerous comparative and competitive advantages for companies and their managers, including a longer runway to execute business strategy and a loyal cohort against adversity. Cunningham explores dozens of corporate practices and policies—such as rational capital allocation, long-term performance metrics, and a shareholder orientation—that can help shape the shareholder base and bring in committed owners. Focusing on the benefits for corporations and their investors, he reveals what draws quality shareholders to certain companies and what it means to have them in an investor base. This book is vital reading for investors, executives, and directors seeking to understand and attract the kind of shareholders that their companies need.
Advance Praise
"Quality Shareholders highlights the close correlation between patient long-term investors and companies focusing on long-term strategies and profits. Its numerous examples of successfully run corporations with such dedicated shareholders will be of interest to individual and institutional investors alike. "
--David Kass, University of Maryland
Available Editions
EDITION | Other Format |
ISBN | 9780231198806 |
PRICE | $29.95 (USD) |
Available on NetGalley
Featured Reviews
A very good introductory/educational material for all interested in investing and understanding market behavior as well as personal behavior in the realm of investing and decision making of shareholder's behavior. also a great look on internal/external stimuli and understanding that markets do not act in isolation and rational world.
The epic quest of the investment industry is to find investments that will generate superior returns with minimal risk. An individual investor, although they might not appreciate it, have a tremendous advantage over the institutional investors. You are not bound by some of the time constraints for holding shares and there is no mandate on when to sell when it reaches a certain proportion of your portfolio. This book shows how you can use those advantages using the quality shareholders framework.
The author has shown with ample research that for companies their high-quality shareholders often have longer horizons than an average investor and they are typically high conviction investors. This has an added benefit that during the times of duress in the financial markets, high quality shareholders will often hold the stock, and might even add to their positions thereby reducing shocks and the subsequent capital flight. This is a marvelous self-reinforcing mechanism that benefits companies with quality shareholders.
I would recommend this book because shareholders are an often overlooked factor with the rise of passive index funds.