U.S. institutional investors are making their voices heard at foreign...

U.S. institutional investors are making their voices heard at foreign companies in which they invest, in line with their increased holding of foreign stock, according to a new study by The Conference Board. Large American investors increased their holdings of foreign stocks from $97.5 billion in 1990 to nearly $300 billion in 1994, the latest year for which data are available. The investors are holding talks with managements, resorting to media pressure, and formally requesting changes, said Carolyn Kay Brancato, The Conference Board's research director in its corporate governance and strategies unit. In 1994, American institutions increased the number of shareholder ballots they cast at foreign companies to 65% of all foreign proxies, from a mere 24% in 1991, according to the study.