The general counsel of the corporate-backed American Council for Capital Formation, spoke to the Activist Investing Today podcast about two new studies the group has produced targeting influential proxy advisory firms and "robo-voting" by some institutional investors.

Doyle contends that the number of issues ACCF has identified are "just the tip of the iceberg." He insists that companies either can't challenge proxy advisory firms before their reports are issued, or don't have enough time to respond.

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This article was written by a staff member of TheStreet.