William Browder, senior fund manager Hermitage, the most effective international equity funds over the past five years, attributed many strong returns their money "to its focus on the activities of shareholders and corporate governance. In 2001, he put to the test this approach, accusing Russian Oil and gas giant Gazprom and the international accounting firm Price Waterhouse Coopers not follow management problems. Though press widely covered the subject of Gazprom and the share price rose, Browder was not possible in his other efforts to get a seat on the board of directors, and his claims were rejected. It was a time to refine or change the activist strategy? These questions Browder (and its investors) are treated as he left on a long vacation. "Hide
by Alexander Dyck Source: Harvard Business School 24 pages. Publication Date: October 17 2002. Prod. #: 703010-PDF-ENG