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- Title
SOVEREIGN WEALTH FUNDS AND CORPORATE GOVERNANCE: A MINIMALIST RESPONSE TO THE NEW MERCANTILISM.
- Authors
Gilson, Ronald J.; Milhaupt, Curtis J.
- Abstract
The article describes the sovereign wealth funds (SWF) phenomenon with a focus on their rapid growth and recent shift in investment strategy. The two faces of SWF equity investments, namely, benign and threatening, are explored. The benign face is the prosaic desire of any investor to achieve higher returns and greater diversification, particularly in response to changes in the global markets and increasing liabilities resulting from demographic trends, while the threatening face is the possibility that SWFs may invest for strategic rather than purely investment motives, raising the specter of national security threats, industrial espionage, and similar harms to core interests of any sovereign state.
- Subjects
SOVEREIGN wealth funds; INVESTMENT of public funds; FOREIGN investments; INVESTMENT policy; INVESTORS; ECONOMIC policy
- Publication
Stanford Law Review, 2008, Vol 60, Issue 5, p1345
- ISSN
0038-9765
- Publication type
Article