Given the tenor of the institutional comments and the fact that more than 50 percent of the shares voted by I.S.S.'s clients are voted under individual or tailored policies on proxy recommendations, it appears that shareholders are acting to influence this market.
Many large shareholders often follow proxy advisers' recommendations.
There is pressure on boards to conform to proxy firm recommendations -- particularly those of I.S.S.
Huntington Bancshares last month managed to get its pay plan approved, despite proxy advisors' recommendations against them.
The proxy advisory service recommendations are always important, but here even more so because only a few big shareholders may sway the deal.
It's a bit puzzling why Southeastern would do this in the middle of this contest and not wait until at least the proxy advisory service recommendations, but the bottom line is that Southeastern is not really a hedge fund in the business of taking risk.
These results are consistent with the conclusion that proxy advisory firm recommendations regarding stock option repricings are not value increasing for shareholders.
In keeping with this recommendation, proxies in the present study were provided with standard instructions in which they were asked to view the patient's perspective.
The recommendations of proxy advisers do not always hold sway over these investors.
In years past, the mutual fund industry was heavily dependent on Institutional Shareholder Services and other proxy advisory firms for recommendations on how to vote in mergers and acquisitions.
