So says a recent study by the Corporate Library and the American Federation of State, County and Municipal Employees which analyzed proxy votes on exec. compensation.

Via CNNMoney.com:

The study found that mutual fund firms, which own nearly a quarter of all U.S. publicly traded companies, voted 74 percent of the time to support management on compensation issues -- either by voting in favor of management's proposals or recommendations, or against shareholder proposals calling for executive pay reform.

More from the CNN Money article here. Or you can download the full report here and here.

-- MDT