Shareholders are pressing companies for more details on corporate campaign contributions, reports David Nicklaus in The St. Louis Post-Dispatch. Some companies have opened up to show shareholders where the money is going, but others continue to balk claiming first amendment rights and “competitive disadvantage”.
Wash U. law professor and Olin adjunct Hillary Sale tells Nicklaus that shareholders may need to demand more than transparency if they want to see where the money goes.
“Forcing disclosure can actually change behavior, but by itself this is just about transparency,” says Hillary Sale, a professor of law at Washington University. “In corporate governance discussions, we usually say transparency is a good thing.” Indeed. This slow-motion shareholder revolt won’t end the flow of corporate cash into politics anytime soon, but may at least bring it out of the shadows.
Read David Nicklaus’ column here.
Image: Flickr Creative Commons, DonkeyHotey, Citizens United Money Globe
