"These shifts are consistent with a story of rising shareholder power and declining employee bargaining power," Palladino writes.
"The gloves are off for the industry with widespread government intervention, internal industry conflicts and rising shareholder activism," it said in its annual report.
Rising shareholder interest in assessing the impact of climate change on business has attracted the attention of corporate boards: the BP board earlier this month endorsed a shareholder proposal asking for more disclosure about climate risk, after the Shell board endorsed a similar proposal in January.
Rising shareholder interest in assessing the impact of climate change on business has attracted the attention of corporate boards: the BP board last month endorsed a shareholder proposal asking for more disclosure about climate risk, after the Shell board endorsed a similar proposal in January.
Despite tightened regulations, rising shareholder activism and an antibusiness climate brought on by the worst economic downturn in a generation, we found plenty of excesses.
* Comes amid time of rising shareholder activism.
"As economic growth slowed and inflation rose, shareholders became dissatisfied with low and steady dividends," Palladino writes.
Prices must rise, markets must grow, shareholders expect to be rewarded.
As its profile rises, shareholder activism has become increasingly a socially charged issue, with some activists portraying themselves as Robin Hood-like characters in the corporate world and some populist politicians allying themselves with activist causes.
They will be well placed to benefit from, or even influence, rising expectations of shareholders, customers and regulators.
