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Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
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English (U.S.)
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Topic:

CalPERs' Interest on Safeway Inc.

Research Paper Instructions:

Revise according to the instructions:
Can you add one more table for corporate governance and explaination , the instruction is in the sample case calers vs whirlpool. the example like this. just add it in my recent upload file.
Calendar Year 88 92
Event Year -1 3
Insider Directors 3 2
Independent Outside Directors 9 9
Affiliated Outside Directors - -
Times New Roman 12 double space.
The section on the background of investor must be at least 3 pages long and no more than 5 pages
Do not include any exhibit usde to caculate buy-and hold or culmulative abnormal returns in your final reports as this could run into numerous pages. It is okay to include a small portion(no more than half a page)of this exhibt in your written reports

Course Description and ObjectivesIn this coursc we will conduct in-depth investigations of the activities of the world’s wealthiest shareholders such as Warren Buffett, Carl Icahn and Donald Trump with the goal of getting a better understanding of exactly what they do to amass such considerable amounts of wealth. Specifically, we will uncover material related to the following topics:

• Characteristics of the investment programs of the world’s wealthiest investors, including attributes such as the duration of their investment programs and the tactics used for engendering changes at investment companies.
• Analysis of the changes in investment companies evoked by the activities of the world’s wealthiest investors using accounting, finance and other approaches to the examination of changes.
• Rewards from pursuing the activities of the world’s wealthiest investors, arising primarily from shared benefits wherein the large shareholder gains, as do the small shareholders of the firm.
• Risks from pursuing the activities of the world’s wealthiest investors, arising from a variety of factors including private benefits for the large shareholder when block ownerships are used by large shareholders to secure a variety of benefits to the exclusion of small shareholders.
Throughout the course, our understanding of the material covered will be complemented by the cases-in-point in class handouts.

Course Requirements

I will assign each student several of the world’s largest shareholders and the companies targeted by these shareholders. Each student, using a variety of analytical techniques that I will discuss in class, will conduct an independent inquiry of these shareholders. Subsequently, each student will prepare a written reports containing information on the background of the assigned shareholders, and a detailed analysis of each assigned company targeted by the large shareholder.
The background secdon of the large shareholder should discuss issues such as the relevant experience and expertise of the investor, the tactics used by the investor to pursue their investment program, sources of funds to pursue the active investment program, motivation for the pursuit of the investment program, personal loss if the value of the investment declines, evidence on past performance in pursuit of investment program, opportunities for self-dealing and evidence on these opportunities.
The analysis section should describe the effect of the large shareholder on the firm for each targeted firm that the student has been assigned. The analysis must be descriptive and evaluative. Each analysis should contain a discussion of the events in the investment program, an examination of the changes in the stock-prices, accounting performance, and other structures of the targeted firm, and a short conclusion.
P/ease plan on spending at least the same amount of time as you would on another three-credit class. Also note that the class requires a considerable amount of individual work; so please make sure there is a goodfit between what you are looking out for and what the class offers.
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Course Materials
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How Buffett Does It by James Pardoe (McGraw Hill, ISBN 0-07-144912-4) is the optional text I recommend for the class. Also, I will provide you with extensive handouts in class to assist you with

Research Paper Sample Content Preview:

Case-In-Point -Calpers Vs Safeway Inc
Name
University of Delaware
FINC 854: Seminar on World’s Wealthiest Shareholders
Date
1 Background of the Active Investor
Relevant experience
CalPERS the California Public Employees' Retirement System has undertaken various legal options and investor activism to influence changes in companies to protect their investment. Investor activism has affected companies such as Whirlpool Corp and Safeway. The board of Calpers is influential and the public pension fund with billions in assets has also focused on attributes that are part of the corporate governance (Dow Jones News Service, 2014 a). To influence changes Calpers has lists of companies that are underperforming in Calpers’ portfolio and there are calls for actions to improve investments, management and workplace practices. Pension funds such as Calpers have different investment criteria when choosing investments, but increasingly they focus on influencing management decisions to protect their investments.
Proxy targeting first involves target selection and Calpers identifies and targets that the fund’s analysts believe required change and are tasked to identify firms to be targeted. Considering the measurement of stock returns and other accounting measures indicates whether there is good or poor performance is common, but Calpers also focuses on corporate governance criteria is used. After selecting the target company, Calpers communicates with the target firms such as Safeway and Calpers informed Safeway about the need for change. Often, Calpers submits proposed shareholder proposals and depending on whether there are changes the next action is seeking resolution. In many cases, there is no resolution between Calpers and the targeted firms before the shareholders annual general meetings and Calpers also chooses nonproxy targeting where there are not shareholder proposals.
Tactics in active investment program
Placing underperforming companies on the Calpers focus list is associated with the Calpers effects, which affects wealth creation in companies that are targeted because their poorly governed. The Calpers management has focused on both the short-term and long-term decisions where the targeted firms were then forced to make changes to improve operations and competitiveness. The idea that there are performance improvements because of the CalPERS effect has influenced Calpers activism and there has been turn around in some of the targeted firms. Public pension fund exercise a huge economic clout because they are large institutional investors and Calpers is one of the institutions that have increasingly used public pension fund activism to influence the conduct of executives and corporations, which tends to improve profitability and wealth creations for the investors.
Calpers’ shareholder activism is linked to greater attention to transparency and accountability in companies where Calpers is a major investor. Pension fund activism is beneficial to influence management change and practices. However, funds such as Calpers may exercise too much power including political influence. Antitakeover measures and influencing the election of shareholders are some ways that Calpers has sought to make...
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