Tre forskere har undersøgt, hvordan politikkere i forskellige amerikanske stater påvirker institutionelle investorers støtte til sociale og miljømæssige forslag (SRI). Undersøgelsen, bragt i Harvard Law School Forum on Corporate Governance, konkluderer, at politisk har en betydelig indflydelse på investerings- og governance-beslutninger i virksomheder.
Analysens fund:
- “Our findings reveal a clear and significant relationship between state-level politics and institutional investors’ voting behavior (…) Moreover, the association between state-level politics and SRI voting has become more pronounced recently. The negative correlation between Republican governorships and SRI support was statistically significant during President Obama’s second term (2013-2016) and became even more pronounced during the Trump administration (2017-2020). Before 2013, the association was weaker and not statistically significant.
- “We also find that the observed correlation between political leadership and SRI voting is greater for larger firms and institutions, which are more likely to attract political and media attention. Additionally, the decline in support is more pronounced for firms and institutions with significant media coverage and when the institutional investor holds a substantial ownership stake in the firm.”
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