Creating Controversy in Proxy Voting Advice

We are grateful to Sugato Bhattacharyya, Philip Bond, Briana Chang, Amiyatosh Purnanandam, Uday Rajan, Alexander Wagner, Lucy White, Yan Xiong, Yishu Zeng, conference participants at the 2021 Conference on Markets and Economies with Information Frictions, Midwest Economic Theory Conference, 13th Florida State University SunTrust Beach Conference, Finance Theory Group meeting, and seminar participants at Aarhus University, Carnegie Mellon University, Georgetown University, Georgia State University, London Business School, Queen Mary University of London, Rice University, Rutgers Business School, University of Illinois Urbana-Champaign, University of Michigan, University of Mississippi, University of Rochester, University of Utah, University of Warwick, Vienna Graduate School of Finance, and Finance Theory Webinar for helpful comments, and to Filipp Prokopev for research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• Online Appendix

• July 15, 2021