In an evolving marketplace, institutional investors have become dominant stakeholders in many firms. The overwhelming volume of their investments has led them to hire proxy advisory firms to determine their voting behaviour in shareholder meetings. However, media attention and the pressure of being accountable towards their shareholders and beneficiaries has led to a change in their voting pattern as well as the advice issued to them by proxy advisory firms. By examining trends in shareholder voting and relating it to the tone of media coverage on corporate governance, researchers Reena Aggarwal, Isil Erel and Laura Stark found out that public opinion on corporate governance is strongly associated with investor voting, particularly mutual-fund voting.
Title : Influence of Public Opinion on Investor Voting and Proxy Advisors
Source : Social Science Research Network
1 May 2026
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