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Event Governance Corporate Governance, Shareholder Capitalism

The Rise of Robovoting: Proxy Advisory Firms and Institutional Investors

Wednesday May 2021


Paul Rose Professor, Moritz College of Law, The Ohio State University
David F. Larcker Professor Emeritus, Stanford Graduate School of Business, Stanford University
James R. Copland Senior Fellow | Director, Legal Policy @JamesRCopland

Shareholder voting decisions today are largely driven by institutional investors—and many of these institutions in turn delegate their shareholder votes to two relatively small “proxy advisory firms.” Those firms have disproportionate power over the governance of American business. Just how much power do proxy advisory firms have? That’s the question answered by Ohio State law professor Paul Rose in a new Manhattan Institute paper, focusing on institutional investor “robovoting.” What is robovoting, and what does it mean for Main Street investors? To find out, join us for a conversation between Professor Paul Rose of Ohio State University, Professor David F. Larcker of Stanford University, and MI senior fellow James Copland.