In the News
November 2007
Columbia Engineering School Alumni Association awards Ira M. Millstein with the Samuel Johnson Medal on November 12, 2007. To read his acceptance speech, click here>>
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Anne Simpson, Executive Director, International Corporate Governance Network and Senior Faculty Fellow, Yale School of Management gives Testimony to a Hearing of the United States Senate Committee on Banking, Housing & Urban Affairs ,“Shareholder Rights and Proxy Access” on November 14, 2007. To hear the recording, click here>>
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Financial News Online
Corporate governance: who is guarding the guardians?
By Mark Cobley
29 Nov 2007
Voting advisers to fund managers are under fire
The forthcoming stock market listing of RiskMetrics Group, a US portfolio risk analysis provider, has raised issues over the ownership and influence of proxy voting agencies.
Proxy agencies advise fund managers and pension funds how to vote at company meetings. As a result of stringent regulatory issues, they have always wielded great influence in the US but they are becoming more important in Europe because of growing cross-border voting driven by regulatory change...
...However, Stephen Davis, a fellow at Yale University’s Millstein Center for Corporate Governance and Performance, said he did not consider the ownership issue so important. He said: “I am not convinced an IPO will make a difference to their commercial motivations. The bigger issues for the proxy firms are about how transparent they are and how they manage their conflicts of interest.”...
To read the full article, please visit Financial News Online website