Shareholder voting decisions today are largely driven by institutional investors—and many of these institutions in turn delegate their shareholder votes to two relatively small “proxy advisory firms.” Those firms have disproportionate power over the governance of American business. Just how much power do proxy advisory firms have? That’s the question answered by Ohio State law professor Paul Rose in a new Manhattan Institute paper, focusing on institutional investor “robovoting.” What is robovoting, and what does it mean for Main Street investors? To find out, join us for a conversation between Professor Paul Rose of Ohio State University, Professor David F. Larcker of Stanford University, and MI senior fellow James Copland.
How Financial Institutions Disenfranchise Everyday InvestorsMay 12, 2021
Legal ReformCorporate Governance