Institutionelle Anleger und Vermögensverwalter als Akteure in einer selbststeuernden Corporate Governance

The aim of the regulations for institutional investors and asset managers in the Shareholder Rights Directive II and in ARUG II essentially raises two main questions, which the author examines. Firstly: How can the desired greater involvement of institutional investors and asset managers be integrated into the traditional competence structure of the stock corporation? Specifically: Are the new regulations intended to shift the existing distribution of competencies? And secondly, what effect do the new regulations have on the corporate governance of the stock corporation, which is geared towards self-control?