Abstract

http://ssrn.com/abstract=1752165
 


 



On the Role and Regulation of Proxy Advisors


Paul Rose


Ohio State University (OSU) - Michael E. Moritz College of Law

January 31, 2011

Michigan Law Review First Impressions, Vol. 109, p. 62, 2010
Ohio State Public Law Working Paper No. 142

Abstract:     
The role of proxy advisors has increasing relevance because the Securities and Exchange Commission has recently undertaken a review of the mechanisms of proxy voting - less gracefully but perhaps aptly described as “proxy plumbing” - and the role of proxy advisors in that process. This short essay discusses the role of proxy advisors and their regulation. In particular, the essay addresses why institutional investors purchase corporate governance ratings and advice despite the fact that the advice appears to be of poor quality. The essay then discusses potential regulation of proxy advisors by the Securities & Exchange Commission.

Number of Pages in PDF File: 8

Keywords: Proxy voting, proxy advisors, corporate governance ratings, corporate governance industry, RiskMetrics, ISS, proxy plumbing

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Date posted: February 1, 2011 ; Last revised: February 3, 2011

Suggested Citation

Rose, Paul, On the Role and Regulation of Proxy Advisors (January 31, 2011). Michigan Law Review First Impressions, Vol. 109, p. 62, 2010; Ohio State Public Law Working Paper No. 142. Available at SSRN: http://ssrn.com/abstract=1752165

Contact Information

Paul Rose (Contact Author)
Ohio State University (OSU) - Michael E. Moritz College of Law ( email )
55 West 12th Avenue
Columbus, OH 43210
United States
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