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Series

2009

University of Pennsylvania Carey Law School

Corporations

Business Administration, Management, and Operations

Articles 1 - 2 of 2

Full-Text Articles in Law

Director Elections And The Role Of Proxy Advisors, Stephen Choi, Jill E. Fisch, Marcel Kahan Jan 2009

Director Elections And The Role Of Proxy Advisors, Stephen Choi, Jill E. Fisch, Marcel Kahan

All Faculty Scholarship

Using a dataset of proxy recommendations and voting results for uncontested director elections from 2005 and 2006 at S&P 1500 companies, we examine how advisors make their recommendations. Of the four firms we study, Institutional Shareholder Services (ISS), Proxy Governance (PGI), Glass Lewis (GL), and Egan Jones (EJ), ISS has the largest market share and is widely regarded as the most influential. We find that the four proxy advisory firms differ substantially from each other both in their willingness to issue a withhold recommendation and in the factors that affect their recommendation. It is not clear that these differences, or …


Unentrapped, William W. Bratton Jan 2009

Unentrapped, William W. Bratton

All Faculty Scholarship

No abstract provided.