Corporate Governance

Corporate governance has become increasingly politicized in recent years, with very real consequences for investors and financial institutions of all kinds. From a looming funding crisis facing the nation’s public pension system to the emergence of quasi-regulators operating with unchecked powers and limited scrutiny, there has been increased focus on politically motivated investments, often at the expense of traditional fiduciary responsibility aimed at maximizing returns.

News

Should the modern corporation maximize shareholder value?

AEI
Milton Friedman’s admonition 50 years ago that the modern corporation should maximize shareholder value remains controversial. We argue that under certain broad assumptions, the...

Analysis of Proxy Advisors’ Recommendations During the 2020 Proxy Season

Harvard Law School Forum
The Harvard Law School Forum on Corporate Governance publishes an ACCF analysis of Proxy Advisors

New SEC Proxy Voting Rule Would Strengthen Markets and Investors

Barron's
While most of the details have now been confirmed, there remains debate over a company’s ability to review and respond to proxy advisors’ reports, as well as the practice of “robo-voting”, where certain investors are automatically following proxy firms’ guidance without doing their own due diligence.

Research & Publications

Are Proxy Advisors Still a Problem?

2020 proxy season analysis shows companies believe errors continue

The Realities of Robo-Voting

ACCF Report Finds Numerous Asset Managers Voting in Lockstep with Proxy Advisor Recommendations

Are Proxy Advisors Really a Problem?

ACCF-commissioned research confirms alarming practice of robo-voting is real and quantifies scale of proxy advisor errors