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University of Michigan: Proxy Advisers Have Inherent Incentive To Create Controversy, Study Shows
October 20, 2022
ANN ARBOR, Michigan, Oct. 20 (TNSres) -- The University of Michigan issued the following news release:

When an institutional investor uses recommendations from a proxy adviser to cast a vote on shareholder issues, they may want to proceed with caution.

Professional proxy advisory firms have an incentive to publicly recommend a vote contrary to what company management proposes, according to a new study by Nadya Malenko and Andrey Malenko, associate professors of finance . . .

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