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David Larcker on union activism

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David Larcker, James Irvin Miller Professor of Accounting at the Stanford Graduate School of Business and senior faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University, and his colleague Bryan Tayan, released an article this week titled - Union Activism: Do Union Pension Funds Act Solely in the Interest of Beneficiaries? The piece explores the shareholder activism engaged in by labor unions in their capacity as pension plan administrators, most specifically focusing on the question of whether that activism conflicts with the fiduciary duties owed to the plan beneficiaries.

To examine just how active labor-union-affiliated funds have been in the shareholder proposal process and what type of changes they seek, visit the Manhattan Institute's Proxy Monitor database which tracks such data for America's largest public companies.

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.