Some of the issues which are driving the corporate governance debate in continental Europe
News that the activist fund manager Calpers wants to raise its overseas equities holdings from 13 per cent to 20 per cent of its assets could send shivers down the spines of executives in underperforming companies across the globe. And the chill wind of heightened expectation may be felt most in boardrooms across continental Europe. A significant chunk of the Californian fund's extra $6 bn or so is destined for investment in French and German interests (the rest targeted at the UK and Japan). Calpers
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