The Controversy over Proxy Voting: The Role of Fund Managers and Proxy Advisors
评估了代理顾问和资产管理公司在公司治理中的角色与权力，分析了其业务模式与目标差异，并提出了提高透明度和监管监督的政策建议。
In this statement, we assess the role and power of proxy advisors and asset managers in corporate governance in a market that is characterized by a limited number of voting advisory firms (Institutional Shareholder Services and Glass Lewis) and a growing dominance of index investing concentrated in a few large asset managers, such as BlackRock, Vanguard, and State Street. We discuss the business model of proxy advisory firms and contrast its objectives with those of asset managers in the context of the informational screening/filtering role and voting analysis and conclude with a set of policy recommendations addressing transparency and regulatory oversight.