Institutional Investors and Proxy Voting : The Impact of the 2003 Mutual Fund Voting Disclosure Regulation

@inproceedings{Cremers2008InstitutionalIA,
  title={Institutional Investors and Proxy Voting : The Impact of the 2003 Mutual Fund Voting Disclosure Regulation},
  author={K. J. Martijn Cremers},
  year={2008}
}
This paper examines the impact on shareholder voting of the mutual fund voting disclosure regulation adopted by the SEC in 2003, using a paired sample of proposals submitted before and after the rule change. We focus on how voting outcomes relate to institutional ownership and the voting behavior of mutual funds. While voting support for management has decreased over time, there is no evidence that mutual funds’ support for management declined after the rule change, as expected by advocates of… CONTINUE READING

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