Now that proxy season is finally winding down, I had a few minutes to take a quick glance at recent research reported on SSRN. Below I am simply including a few citations and abstracts of studies that might be useful for shareholder advocates in the U.S. I’m sure I included some that are strictly academic and missed many more that would be useful. I would welcome guest posts on such research from authors, critics or other interested parties. Please contact me via e-mail or by leaving comments below. Continue Reading →
Tag Archives | research
2014 Poison Pill Impetus, by John Laide of SharkRepellent.net, includes an analysis of last year’s U.S. poison pill adoptions. The post is also available at FactSet Insight, 2014 Poison Pill Impetus: Why are U.S. companies adopting poison pills?
He concludes that companies continue to adopt poison pills primarily in response to activist investors. Continue Reading →
Two important surveys are now underway. If you are a board member (director) with a nonprofit, please respond to the first survey request below. If you attended the SRI 2014 Conference in Colorado Springs last week, please find details in the second survey request below. Continue Reading →
Entrenched corporate elites may need to up their public opinion game. Robert Monks and Nell Minow are near the top of their attack list. (Shareholder crusaders Monks and Minow speak out) Having been sued several times for having the audacity to make recommendations to boards via shareowner proposals, I’m on there too. (see EMC v. John Chevedden and James McRitchie: Case Dismissed, as well as Deal Professor Equates Filing Proxy Proposals with Terrorism) Of course, proxy advisors, such as ISS and Glass Lewis are at the top for frequently advising clients to vote in favor of shareowner proposals and against those of management. Research now indicates, public opinion may be next. Continue Reading →
As I mentioned in yesterday’s post, Council of Institutional Investors Fall 2014 Conference: Meeting Availability, I’m encouraging a research project looking into the impact that funds announcing their proxy votes in advance have or can have. I’ve joined with Pensions&Investments in arguing funds have a fiduciary duty to make such advance proxy vote disclosures when that could influence the outcome. Now I want to see if that condition ever applies. Under what circumstances is advance disclosure likely to influence the outcome of corporate elections? Continue Reading →
The SEC this week weighed into the proxy advisor debate with Staff Legal Bulletin 20, which provides information on the proxy voting responsibilities of investment advisers (i.e. professional investors) as well as clarification on the exemptions from federal regulation which apply to proxy advisory firms. Continue Reading →
Guest Post by Nicole Jasso Lopez, corporate lawyer and President at Jurify.com, discussing how Jurify presents corporate governance resources and keeps you up-to-date on developments.
Jurify’s mission is to make sense of the law at a time when much information is free but navigating it is becoming increasingly difficult and time-consuming. And corporate governance is a particularly challenging area to navigate. It is a patchwork of trends, best practices, successes and missteps supported and directed by a framework of federal and state law and rules of self-regulatory organizations, like the NYSE and Nasdaq. Continue Reading →
Author Presentation of Findings: September 19, 2014
The Asian Corporate Governance Association (ACGA), an independent non-profit association based in Hong Kong and one of the region’s foremost organizations working in the emerging field of corporate governance, is seeking applications for the new position of Research Director – China / Hong Kong. ACGA carries out its work through research, education and advocacy in 11 Asian markets and this position marks an expansion of the Association’s contribution to China. Continue Reading →
The Investor Responsibility Research Center Institute (IRRCi) is accepting submissions for its second annual competition for research that examines the interaction of the real economy with investment theory. Two papers – one academic and one practitioner – each will receive the “2013 IRRC Institute Research Award” along with a $10,000 award. A blue-ribbon panel of renowned judges with broad finance and investment experience will carefully review submissions and select two winning papers.
Companies that tout social responsibility and whose managers contribute to political action committees tend to provide higher returns to shareholders, suggests a new University of California,
Davis, study Strange Bedfellows? – Voluntary CSR Disclosure and Politics. Continue Reading →
Blair, Margaret M., The Four Functions of Corporate Personhood (April 9, 2012). Vanderbilt Law and Economics Research Paper No. 12-13; Vanderbilt Public Law Research Paper No. 12-15. Available at SSRN. Abstract follows:
In this article I argue that the legal device of creating separate juridical “persons” for certain business activities Continue Reading →
The Investor Responsibility Research Center (IRRC) Institute announce its second annual competition for research that examines the interaction of the real economy with investment theory. Two papers – one academic and one practitioner – each will receive the “2013 IRRC Institute Research Award” along with a $10,000 award. A blue-ribbon panel of renowned judges with broad finance and investment experience Continue Reading →
Last week, the Conference Board and FactSet Research Systems announced a joint initiative to analyze and disseminate aggregate data from the annual general meetings (AGMs) of U.S. public companies. Continue Reading →