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更新日期:
2020-12-14
Quality Shareholders: How the Best Managers Attract and Keep Them
Lawrence Cunningham
Columbia Business School Publishing
Nov. 2020
264pp
書籍編號:
02-1710
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● 內文簡介

« 《巴菲特勝券在握的12個原則》(The Warren Buffett Way)作者羅伯特‧海格斯壯和《超值投資》(Deep Value)作者杜白‧卡萊爾盛情推薦。

投資者挑選優質股票,同樣,一家上市企業也極需吸引優質股東,這樣才能取得雙贏優勢。

任何人都能購買上市公司股票,但不是所有股東都專注於公司的長遠成功。在這個越漸分散的金融世界中,股東對其所投資的公司的態度,從投資期限到信念都有很大的差異。面對指數型投資者、短線操作者和維權投資者,企業更加需要確保股東都能忠於公司使命。現今企業需要的是「優質股東」,也就是巴菲特所說「大量買進並長期持有」的股東。

Lawrence A. Cunningham提供一套專家指南,介紹吸引並留住優質股東的各種好處。他指出公司股東當中若以長期持有的忠誠股東為主,能為公司和經營階層帶來許多相對優勢和競爭優勢,包括有更長的期程來執行企業策略,以及有齊心度過難關的忠實團隊。作者鑽研多個企業實務作法和政策,包括合理的資本配置、長期績效指標和股東權益導向作法,證實這些能夠塑造公司的股東基礎,吸引忠誠的股票持有人。

在書中,作者著眼企業和股東權益,介紹哪些方式可以吸引優質股東投資特定企業,以及擁有這些股東對公司有何意義。這是一本投資人、企業主管和想要吸引優質股東的經營階層必讀指南。

 

● 作者簡介

Lawrence A. Cunningham是喬治華盛頓大學(George Washington University)亨利聖喬治塔克三世的法學研究教授(Henry St. George Tucker III Research Professor of Law),撰有許多企業治理和投資書籍,包括《少了巴菲特,波克夏行不行?:史上最大企業的未來挑戰》(Berkshire Beyond Buffett)。

 

● 媒體報導

This book asks readers to reflect on important questions: What is a quality shareholder, and are you acting as one in the stock market? By following Cunningham’s prescriptions, companies can attract such investors and improve economic returns, and individuals have a roadmap to become quality shareholders and improve their investment results. This is a worthy goal, one that should be broadly shared. -- Robert G. Hagstrom, author of The Warren Buffett Way

Cunningham has written a highly engaging, eminently readable book on an important but as-yet-unheralded shareholder cohort, the quality shareholders. Quality shareholders―engaged, long-term investors who can provide management with a sounding board and constructive criticism―may be the solution to rising transience and short-termism pervading markets. Cunningham describes how managers who run their companies to attract quality shareholders and investors who strive to exhibit those qualities contribute to the common good. -- Tobias Carlisle, author of Deep Value and The Acquirer's Multiple

Quality Shareholders highlights the close correlation between patient long-term investors and companies focusing on long-term strategies and profits. Its numerous examples of successfully run corporations with such dedicated shareholders will be of interest to individual and institutional investors alike. -- David Kass, University of Maryland, writer of the Warren Buffett Blog