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proxy firm
A proxy firm (also a proxy advisor) is a firm hired by shareholders of public companies (in most cases an institutional investor of some type) to recommend and sometimes cast proxy statement votes on their behalf. The top two proxy firms are Glass, Lewis & Co. and Institutional Shareholder Services (a subsidiary of MSCI after that firm's acquisition of Riskmetrics and until its most recent sale to Vestar Capital Partners). Glass, Lewis & Co. and Institutional Shareholder Services maintains, based on studies in 2007 and 2009, approximately 37% and 61% of market share in proxy advisory services.
Additional specialty firms include Egan-Jones Proxy Services part of Egan-Jones Ratings Company, C&W Investment Group and Marco Consulting Group.
By some accounts, ISS advised half of the common stock in the world as of 2010.〔Hyatt J. (2010). (Proxy Advisors Find Themselves in the Spotlight ). ''Business Ethics''.〕 Some proxy firms play the role of proxy advisor, in which they simply advise their clients on how to vote. A potential conflict of interest identified by the Government Accountability Office is that some owners of proxy firms do business with both issuers and investors.〔(【引用サイトリンク】title=The influence of proxy advisory firms on executive remuneration )〕 In many cases, proxy firms have attempted to limit executive compensation.〔(【引用サイトリンク】title=Proxy firm questions Tyson chief's pay )〕
Although proxy advisory firms are most active in USA, India now has an institutionally backed voting/proxy advisory firm, Institutional Investor Advisory Services India Limited (IiAS). IIAS is dedicated to providing participants in the Indian market with voting recommendations on shareholder resolutions and providing independent research, opinions and data on corporate governance issues.
==References==
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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