2005 Fiscal Year Final Research Report Summary
Research of Disclosure of Proxy Voting by Stock Investment Trusts.
| Project/Area Number |
16530057
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Civil law
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| Research Institution | Yamaguchi University |
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Principal Investigator |
NAKAMURA Mikiko Yamaguchi University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (60363090)
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| Project Period (FY) |
2004 – 2005
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| Keywords | disclosure / proxy voting / stock investment trust / mutual fund / fiduciary duty / stock investment trust law / trust law / institutional law |
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| Research Abstract |
I compare United States and Japan in proxy voting by stock investment trusts.
First, the corporate governance by the stock investment trusts has not been regarded as the important role accompanying stock investment trusts both in United States and Japan. However, with overall voting power nearing 30 percent and growing, mutual funds have become a pivotal player in United States corporate governance. The amount of Japanese stock investment trusts exceeded 45,000 billion. We should insist on transparency as stock investment trust managers choose to take on this new role as corporate governance player.
Second, proxy voting disclosure would enhance accountability and transparency, the guiding principles of all financial regulation in United States. Also, disclosure would prove proxy voting process to be effective and would very useful for corporate governance and corporate social responsibility of stock investment trust itself in Japan. Disclosure will educate individual investers as essential shareholders.
Fiduciary duties consisit proxy voting processes that stock investment trusts carried out. The result of proxy voting by stock investment trusts should be disclosed.
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Research Products
(7 results)
