UK mid-cap and small-cap companies are feeling the heat from investors on corporate governance issues. Institutions are voting more and lodging more dissenting votes at smaller companies.

Shareholder voting levels in FTSE 250 companies have hit the government's target of 60% and turnout at small-cap companies jumped 6% to 55%, according to research from Manifest, the proxy voting service, which analysed polling data for more than 3,800 company resolutions in 2002.