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BlackRock, State Street Back Good Governance Principles

Jan. 31, 2017, 11:12 PM

BlackRock, State Street Global Advisors and other investors managing more than $17 trillion in assets are backing baseline expectations for good corporate governance in the U.S.

Among the principles for U.S.-listed companies are ‘one-share, one-vote,’ rather than dual-class shares or other structures that create unequal voting rights among shareholders. Another set of principles for institutional investors covers issues including proxy voting and engagement.

Companies such as Google and Facebook have popularized multiple-class shares. Snap Inc., set to go public later this year, is said to be giving public shareholders non-voting stock and thus no control over how the company is...

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