The latest Annual Voting and Governance Report from ISIS Asset Management paints a picture of steadily improving UK corporate governance and better levels of communication with shareholders than some might believe.
Issues such as the placing of his son as Rupert Murdoch's new boss of satellite television station BSkyB is what many remember in terms of corporate governance over the past year.
However, Karina Litvack, ISIS director head of governance and SRI, says there has actually been a significant amount of chatter going on between company secretaries and investors.
The outlook is tempered by ISIS own actions, which saw a rise in the number of votes cast against management to 8% of all 14,000 votes it cast through the year, up from 5% the previous year.
Abstentions increased to 5% from 3%, while support for remuneration proposals fell.
ISIS argues there are two ways to read the figures, and from its perspective the increasing incidence of voting against companies and their bosses reflects rising standards of corporate governance against which they are measured.
As standards have increased, so the number of companies taking a proactive approach to communicating governance issues has gained, resulting in further improved communications between companies and shareholders, ISIS says.IFAonline
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