Episode Details

Years ago, individual shareholder/owners cast their own proxy votes on company proposals, but with the growth of institutional investment management, many of these votes are now cast by professional managers.

Do the investment managers solicit the views of the individuals who own shares in their funds? Do they rely on third-party advisors to determine their votes? Do they do their own due diligence to evaluate management’s proposals? If they disagree with management, do they feel they can run the risk of alienating corporations with whom they may be doing business? Can they — and should they — use their voting strength to induce corporate managers to focus on a host of issues not directly related to the firm’s business strategy, such as environmental, social and governance issues?

Larry Zicklin (BBA, ’57) discusses these questions with Jay Dahya, Associate Professor in the Wasserman Department of Economics and Finance, and Caitlin McSherry, Director of Investment Stewardship and Senior Vice President, Neuberger Berman. With an introduction by Interim Dean Paquita Davis-Friday and, after the discussion, a Q&A session moderated by Associate Dean Gwen Webb.

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