Thought leadership and director perspectives
Amid intense debate on the extent of proxy advisor influence and rising expectations concerning investor engagement, Tapestry published a report entitled “Voting decisions at US mutual funds: how investors really use proxy advisers” in collaboration with The Investor Responsibility Research Center Institute (IRRCi). The report was based on an extensive literature review and in-depth interviews with 19 North American mutual funds that collectively manage over $15.4 trillion in assets. Tapestry’s research demonstrated that proxy advisors are influential in meaningful ways beyond swaying proxy vote outcomes.
And, in 2016, Tapestry again partnered with the IRRCi to investigate how companies and boards evaluate share buyback decisions, publishing “Buybacks and the Board: Director perspectives on the share repurchase revolution” in 2016. The report identifies the reasons for the buyback binge, explains the board’s involvement in repurchase decision-making, and offers director responses to common criticisms about buyback programs.
The IRRCi is a nonprofit research organization that funds environmental, social, and corporate governance research, as well research on the capital market context that impacts how investors and companies make decisions.
PUBLICATIONS
August 2016 Large American public companies have repurchased their shares at a remarkable rate. S&P 500 companies acquired $166.3 billion of their own shares in the first quarter of 2016,
June 2012 The balance of power among shareholders, management, and boards of directors has been a subject of debate for many years. One area of intense focus has been how institutional share
