Pehele shareholders AGM me sirf chai-samosa ke liye aate dikhte the. Ab shareholder activism serious governance tool ban chuka hai. Large institutional investors, funds, aur even retail investors resolutions pe tough stand le rahe hain – board appointments, executive pay, mergers, ESG issues, sab pe.
Yahin pe proxy advisory firms ka role aata hai. Ye firms company ke resolutions analyse karke recommend karti hain ki investors ko “for” vote karna chahiye ya “against”. Wo governance standards, disclosures, performance, aur market practices sab compare karte hain.
Activism ke means:
- Public letters to boards,
- Voting against directors,
- Campaigns to split chairman/CEO roles,
- Pressure for climate, diversity, and transparency commitments.
Critics bolte hain kuch activists short-term stock price pe focus karte hain, long-term strategy ignore karte hain. Proxy firms pe bhi conflict of interest, over-standardisation, ya factual errors ke allegations kabhi-kabhi lagte hain.
Phir bhi, overall trend ne boards ko realise kara diya hai ki shareholders silent spectators nahi rahe. Carefully reasoned, data-backed activism corporate behaviour ko noticeably reshape kar raha hai – specially listed space me.