After years of what analysts have called indifference to the fates of the companies included in its indexes, Vanguard Group, the global mutual fund giant from Malvern, is throwing its weight behind activist investors to make corporate governance more democratic.

Under threat of supporting shareholder proposals that are expensive, unpopular or even “embarrassing” to company boards of directors, Vanguard has the clout to pressure the firms it invests in to establish “directors who aren’t company executives or their family members; ‘one share, one vote’ rules (not the extra power given founding families at Comcast Corp. or The New York Times); merger rules that invite fat takeover offers; and ‘say-on-pay’ votes that let shareholders slap overpaid CEOs,” an article on Philly.com stated recently.

“It’s certainly better than the benign indifference they and most other huge institutional investors displayed for years,” Activist Investor Publisher Michael L. Levin said in the article.

In its latest attempt at outreach, Vanguard invited 350 companies to proactively refine their policies.

Read more about the emerging trend and examples where Vanguard has exerted its influence on Philly.com here, and check out previous Vista.Today coverage of Vanguard’s take on corporate governance here.