Stakeholder and public engagement

Determinants of commitment and opportunism of institutional investors’ behavior: an empirical investigation on robo-voting phenomena

Nicola Cucari, Salvatore Esposito De Falco, Sergio Carbonara, Konstantinos Sergakis, Domenico Sardanelli

Recent research identifies a troubling number of institutional investors that automatically follow the advice of their proxy advisors so that they can prove to have complied with their fiduciary duties, in a practice known as robo-voting. Therefore, our central research questions are: How institutional investor’s characteristics could affect robo-voting phenomena? and How robo-voting phenomena could favor the creation of new opportunistic behavior, chancing the scope of shareholder engagement?

#Corporate Governance #institutional investors #proxy advisor #robo-voting #shareholder engagement #shareholder voting