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- Title
Opportunism in the Shareholder Voting and Engagement of the “Big Three” Investment Advisers to Index Funds.
- Authors
Sharfman, Bernard S.
- Abstract
The article explores opportunism in shareholder voting and engagement of Big Three investment advisers BlackRock, Vanguard and State Street in index funds. Topics discussed are collective action problem in shareholder voting and engagement, role of proxy advisors, opportunism in the use of delegated voting authority, portfolio primacy, millennial marketing strategy of the Big Three, and fiduciary duties under the Employee Retirement Income Security Act (ERISA) and Investment Advisers Act.
- Subjects
STOCKHOLDERS' voting; OPPORTUNISM (Psychology); INVESTMENT advisors; INDEX mutual funds; PROXY advisors; BLACKROCK Inc.; VANGUARD Group of Investment Cos.; STATE Street Corp.
- Publication
Journal of Corporation Law, 2023, Vol 48, Issue 3, p463
- ISSN
0360-795X
- Publication type
Article