The third, and perhaps most important, factor underpinning recent changes in corporate governance has been the sharp rise in cross-border investing. Sovereign wealth funds, pension funds, global investment banks, and hedge funds do not invest only in their own backyard.
第三个，也许是最重要的一个推动当前公司治理变化的因素是跨国投资的迅速兴起。主权财富基金、退休基金、全球投资银行和对冲基金并不只投资于自己的后院。他们翻遍全球寻找投资目标，并且希望获得投资的公司根据理性的规则行事。