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Corporate Governance

CookESG recently reviewed five hundred and two shareholder-sponsored resolutions voted during the 2013 U.S. proxy season (July 2012 to June 2013).1 Two-thirds are governance-related: board practices, executive pay, director elections, shareholder rights and shareholder value.  These averaged 41% support, slightly down on the 10-year high of 45% in 2009. One-third address social and environmental issues […more…]

This year's Proxy Preview was published by As You Sow Foundation, the Sustainable Investment Institute (Si2) and Proxy Impact today.   Authors Heidi Walsh and Michael Passoff provide a detailed picture of the upcoming proxy season, tracing trends in shareholder resolution filing, proxy voting and engagement activities.   Some of the biggest issues that they identify for this […more…]

 Fund Votes research shows that SRI firms agree on what is to be done to improve the executive compensation.  Almost without exception, six SRI investment firms (including Domini, Calvert, Citizens, Parnassus, MMI Praxis and Walden) voted exactly alike on shareholder resolutions addressing various aspects of executive compensation in 2008 (blue bars on graph).   By comparison, mainstream mutual funds […more…]

  A new Research Brief from Fund Votes finds that 8 out of the 9 financial firms named in the US government bailout plan had been targeted by shareholder activists with a ‘say-on-pay’ resolution in 2008.   A number of major mutual fund families failed to support those initiatives and actually voted overwhelmingly against increasing oversight […more…]

Today the US government announced that it would inject $250 billion into the US banking system by buying large stakes in nine banks: Citigroup, JPMorgan Chase, Morgan Stanley, Goldman Sachs Group, Bank of America Corp, Merrill Lynch & Co, Wells Fargo & Co, State Street Corp and Bank of New York Mellon.  Eight of these […more…]

1.6 million mutual fund votes analyzed from disclosures made by 31 August 2008 40 mutual fund families profiled on 2008 votes 600,000 votes on shareholder-sponsored resolutions over 5 years broken down into categories 10.5 million US mutual fund proxy voting records analyzed over five years Average support for management resolutions at 90%, stable over 5 […more…]

In the first summary of how mutual funds voted in 2007, compares 54 large funds. Funds’ votes on management- and shareholder-sponsored resolutions are tallied and funds are ranked on their ‘activism’ in these two areas. Drawing on a database of over 7.5 million voting decisions, funds’ 2007 voting records were compared with previous years […more…]