Research & White Papers

ISS research analysts and experts investigate emerging governance and accounting issues. Explore their research, commentary and analysis here.

Evaluating Pay for Performance: ISS' Quantitative and Qualitative Approach

Investor feedback on the issue of pay-for-performance has indicated a preference for putting the focus on long-term alignment, board decision-making, and pay relative both to market peers and to absolute shareholder returns. As a result, ISS is unveiling a new approach to evaluating pay-for-performance in 2012 for U.S. companies. It comprises an initial quantitative assessment and, as appropriate, an in-depth qualitative review to determine either the likely cause of a perceived long-term disconnect between pay and performance, or factors that mitigate the initial assessment.

2012 Proxy Season Preview: South Korea

During the Korean proxy season, companies likely will seek approval for income allocation authority and other article amendments.
 

2012 U.S. Proxy Access Proposals

A table of the proxy access resolutions that investors have filed for the 2012 U.S. proxy season.
 

Governance Reforms through Securities Class Actions

This white paper traces the evolution, since the mid-1990s, of the role of securities class action in the evolution of institutional shareholder activism. Institutional investors have achieved a variety of sometimes far-reaching governance reforms that would have been otherwise impossible to achieve through more traditional means. Reforms have included increasing board openness and disclosure, election of directors, term limits for directors, shareholder participation in director nominations, outside auditing policies, executive compensation, stock option terms and many others.

2011 U.S. Postseason Report

A review of how investors voted during this year’s advisory votes on compensation, director elections, shareholder proposals on governance issues, and environmental and social resolutions.

2011 Policy Survey Results Report

For the past eight years, ISS has sought feedback on emerging corporate governance issues as a critical component of its annual policy formulation process.  Through its annual policy survey, ISS seeks input from both its institutional investor clients and the corporate issuer community, in order to gain a better understanding of the breadth of financial market views on a range of topics including boards of directors, shareholder rights, and executive compensation/remuneration.

2011 Proxy Season Review: Japan

Lack of board independence is still a major concern, but independence is improving slowly.

2011 Proxy Season Preview: South Africa

Under new regulations, South African companies will be required to form social and ethics committees to monitor social and economic development activities and their approach to "good corporate citizenship."

2011 Voting Results Report: Europe

The overall level of shareholder dissent has remained static over the past four years, despite turbulence within European markets.

2011 Proxy Season Review: Belgium

Shareholder votes on remuneration are becoming more common in Belgium, as investors vote on "say on pay" proposals, severance pay, and stock options for independent directors.

2011 Proxy Season Review: Eastern Europe

Russian companies remove government officials from their boards, while changes to Russian legislation lead to a spike in resolutions to amend companies' corporate documents.

Preliminary 2011 U.S. Postseason Report

During the spring U.S. proxy season, most companies received broad support for their pay practices, while investors gave greater support to shareholder proposals seeking board declassification.