Tahir M. Nisar - Böcker

The growth of shareholder value has been a major change in Western economies since the 1980s. This growth has reignited debates concerning relations between investors and managers. This book argues that investors are more than passive providers of finance, on whose behalf managers seek to maximize shareholder returns. Instead, many investors directly influence management practice, through investor engagement. The book examines the role of institutional investors and private equity firms, two types of investors with overlapping but different reasons for engagement. Questions addressed include: What are the incentives, and disincentives, for investment engagement? How is investor engagement organized? What areas of management practice are of particular concern to investors? The discussion shows in detail how private equity firms play a major role in developing new companies, beyond the provision of finance, especially in the IT, biotechnology, and pharmaceutical sectors.The discussion is primarily based on British and US research. The debate has wider international relevance, because there are strong pressures for establishing shareholder value as the international 'norm' for systems of corporate governance. Following a detailed discussion of Germany, the authors conclude that there is no inevitable trend to shareholder value: shareholder value depends upon complementary institutional arrangements in national business systems, which are far from universal. The book concludes with a critical analysis of the justifications for shareholder value and investor engagement, highlighting the weaknesses of both efficiency and equity justifications.

Tahir Nisar presents a cogent, compelling account of recent developments and disruptions within the digital economy, and particularly within the industrial and service sectors. Through an original, overarching framework rooted in the concept of personalization and its antecedents, Nisar identifies radically new forms of relationships, both economic and social, among firms and customers. These new relationships are driving major changes in commercial and industrial firms’ policies and practices, and in turn, in the entire market economy. E-commerce trading, user-generated content, virtual communities, co-creation, influencer movements, FinTech, and sharing economies have strengthened the hands of consumers and have encouraged developments in cognitive technologies such as AI automation, which in turn create new ways of working and disruptions to traditional capital-labour relations. Ultimately, what emerges from this study is a picture of how digital technologies unleash forces of change that are creating new forms of social and economic sharing arrangements and new forms of social organization.For its empirical depth and and theoretical rigor, this book is essential reading for researchers and students interested in emerging, alternative forms of economics, business, and management, and particularly those interested in the digital economy and the state and future of capitalist markets.

Tahir Nisar presents a cogent, compelling account of recent developments and disruptions within the digital economy, and particularly within the industrial and service sectors. Through an original, overarching framework rooted in the concept of personalization and its antecedents, Nisar identifies radically new forms of relationships, both economic and social, among firms and customers. These new relationships are driving major changes in commercial and industrial firms’ policies and practices, and in turn, in the entire market economy. E-commerce trading, user-generated content, virtual communities, co-creation, influencer movements, FinTech, and sharing economies have strengthened the hands of consumers and have encouraged developments in cognitive technologies such as AI automation, which in turn create new ways of working and disruptions to traditional capital-labour relations. Ultimately, what emerges from this study is a picture of how digital technologies unleash forces of change that are creating new forms of social and economic sharing arrangements and new forms of social organization.For its empirical depth and and theoretical rigor, this book is essential reading for researchers and students interested in emerging, alternative forms of economics, business, and management, and particularly those interested in the digital economy and the state and future of capitalist markets.