Matches in SemOpenAlex for { <https://semopenalex.org/work/W3186275518> ?p ?o ?g. }
Showing items 1 to 77 of
77
with 100 items per page.
- W3186275518 abstract "In July 2020, the Securities and Exchange Commission (SEC) adopted a final Proxy Advisor Rule, establishing principles governing the conduct of proxy advisory firms, which help institutional investors execute voting on shareholder matters and advise them on how to vote their shares. The commission acted in response to growing concerns that two relatively small proxy advisory firms — Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis), each owned by private equity firms and together controlling more than 90% of the proxy advisory market — have assumed outsize influence over corporate voting matters. The commission’s new rule is intended to ensure that investment advisors are acting in the best interest of shareholders.Among the issues implicated by the SEC’s Proxy Advisor Rule and concurrent Guidance Supplement is “robovoting,” whereby institutional investors mechanically follow a proxy advisor’s voting guidance without any independent review. In effect, an institutional investor transfers its fiduciary voting authority to a third party. Robovoting is a principal mechanism through which proxy advisory firms have assumed substantial influence over corporate shareholder voting outcomes.This paper is the first empirical assessment of robovoting in 2020, which, owing to the timing of the annual corporate “proxy season,” fell wholly after the SEC announced its proxy-advisor rulemaking process in November 2019 but mostly before the SEC released its final rule in July 2020. Because institutional investors are forward-looking, we can expect that at least some of these investors adjusted shareholder voting policies and disclosures in light of the commission’s rulemaking procedure.Nevertheless, among institutional investors that engaged in robovoting in 2020 — either wholly or as part of an apparent custom voting plan — most did not make adequate disclosures to investors of their proxy voting strategies. Some institutional investors did, however — including those that adopted a robovoting strategy during the year, consistent with the SEC’s proxy advisory rule. This report highlights those examples, which other institutional investors may wish to consider as templates for their own disclosure regimes." @default.
- W3186275518 created "2021-08-02" @default.
- W3186275518 creator A5011155219 @default.
- W3186275518 date "2021-04-22" @default.
- W3186275518 modified "2023-09-25" @default.
- W3186275518 title "Proxy Advisors and Market Power: A Review of Institutional Investor Robovoting" @default.
- W3186275518 hasPublicationYear "2021" @default.
- W3186275518 type Work @default.
- W3186275518 sameAs 3186275518 @default.
- W3186275518 citedByCount "0" @default.
- W3186275518 crossrefType "posted-content" @default.
- W3186275518 hasAuthorship W3186275518A5011155219 @default.
- W3186275518 hasConcept C10138342 @default.
- W3186275518 hasConcept C10150695 @default.
- W3186275518 hasConcept C117763746 @default.
- W3186275518 hasConcept C119857082 @default.
- W3186275518 hasConcept C120757647 @default.
- W3186275518 hasConcept C121955636 @default.
- W3186275518 hasConcept C144133560 @default.
- W3186275518 hasConcept C17744445 @default.
- W3186275518 hasConcept C199539241 @default.
- W3186275518 hasConcept C206757995 @default.
- W3186275518 hasConcept C2776034101 @default.
- W3186275518 hasConcept C2776697845 @default.
- W3186275518 hasConcept C2779103253 @default.
- W3186275518 hasConcept C2780148112 @default.
- W3186275518 hasConcept C2781019588 @default.
- W3186275518 hasConcept C39389867 @default.
- W3186275518 hasConcept C41008148 @default.
- W3186275518 hasConcept C520049643 @default.
- W3186275518 hasConcept C94625758 @default.
- W3186275518 hasConceptScore W3186275518C10138342 @default.
- W3186275518 hasConceptScore W3186275518C10150695 @default.
- W3186275518 hasConceptScore W3186275518C117763746 @default.
- W3186275518 hasConceptScore W3186275518C119857082 @default.
- W3186275518 hasConceptScore W3186275518C120757647 @default.
- W3186275518 hasConceptScore W3186275518C121955636 @default.
- W3186275518 hasConceptScore W3186275518C144133560 @default.
- W3186275518 hasConceptScore W3186275518C17744445 @default.
- W3186275518 hasConceptScore W3186275518C199539241 @default.
- W3186275518 hasConceptScore W3186275518C206757995 @default.
- W3186275518 hasConceptScore W3186275518C2776034101 @default.
- W3186275518 hasConceptScore W3186275518C2776697845 @default.
- W3186275518 hasConceptScore W3186275518C2779103253 @default.
- W3186275518 hasConceptScore W3186275518C2780148112 @default.
- W3186275518 hasConceptScore W3186275518C2781019588 @default.
- W3186275518 hasConceptScore W3186275518C39389867 @default.
- W3186275518 hasConceptScore W3186275518C41008148 @default.
- W3186275518 hasConceptScore W3186275518C520049643 @default.
- W3186275518 hasConceptScore W3186275518C94625758 @default.
- W3186275518 hasLocation W31862755181 @default.
- W3186275518 hasOpenAccess W3186275518 @default.
- W3186275518 hasPrimaryLocation W31862755181 @default.
- W3186275518 hasRelatedWork W109203529 @default.
- W3186275518 hasRelatedWork W1501284859 @default.
- W3186275518 hasRelatedWork W1553901337 @default.
- W3186275518 hasRelatedWork W1894139234 @default.
- W3186275518 hasRelatedWork W2212998491 @default.
- W3186275518 hasRelatedWork W2285593342 @default.
- W3186275518 hasRelatedWork W2792435483 @default.
- W3186275518 hasRelatedWork W2901369853 @default.
- W3186275518 hasRelatedWork W2917854422 @default.
- W3186275518 hasRelatedWork W2990654426 @default.
- W3186275518 hasRelatedWork W3048176990 @default.
- W3186275518 hasRelatedWork W3122533371 @default.
- W3186275518 hasRelatedWork W3123386557 @default.
- W3186275518 hasRelatedWork W3124186675 @default.
- W3186275518 hasRelatedWork W3125808817 @default.
- W3186275518 hasRelatedWork W3125908517 @default.
- W3186275518 hasRelatedWork W3130742878 @default.
- W3186275518 hasRelatedWork W3138086575 @default.
- W3186275518 hasRelatedWork W3154094100 @default.
- W3186275518 hasRelatedWork W333001087 @default.
- W3186275518 isParatext "false" @default.
- W3186275518 isRetracted "false" @default.
- W3186275518 magId "3186275518" @default.
- W3186275518 workType "article" @default.