스튜어드십 코드(Stewardship Code)의 도입에 관한 연구

The draft for Korean Stewardship Code to promote sustainable growth of listed corporations through investment, monitoring, and dialogue was disclosed on 2015. The draft, as expected, is similar with that of the other countries such as the United Kingdom, Japan, or Malaysia. The author explores the U.K. Stewardship as well as Japanese's one and applies current Korean legal structures, then insists that, due to the impending repeal of shadow voting system in Korea, the Korean Stewardship should be more focus on active voting rights of institutional investors. The author introduces the aim of Stewardship code in Cadbury report and Walker report is to robust shareholder power to check boards' excessive risk taking in the lead up to the financial crisis. But he insists that the first step for the importing stewardship code in Republic of Korea is should be to settle down by financial regulator supervision rather then Exchange's best practices.