It is universally acknowledged that the corporate system works best when it conforms most closely to its theoretical ideal of management effectively being accountable to ownership. Also, the meetings are apt to generate valuable information which the institutions can use to their personal benefit in the market place.
Conflict of interest tends to dominate the meetings.
The appearance is that institutions having direct access to companies have a monetary advantage over individual investors. It seems inevitable that insiders appropriate too much of corporate wealth CEO pay, lawyers fees in class actions. It is, therefore, of serious concern to institutionalize insider trading. Ultimately, the diversion of wealth will threaten the legitimacy of the corporate system in a free society. The problem is how to create suitable incentive for ownership involvement, starting with informing themselves, without creating unjust enrichment.