{"id":62774,"date":"2025-11-13T12:17:22","date_gmt":"2025-11-13T17:17:22","guid":{"rendered":"https:\/\/allianceadvisors.com\/the-rising-influence-of-retail-investors-in-ma-votes\/"},"modified":"2025-12-02T04:32:33","modified_gmt":"2025-12-02T09:32:33","slug":"the-rising-influence-of-retail-investors-in-ma-votes","status":"publish","type":"post","link":"https:\/\/allianceadvisors.com\/ko\/the-rising-influence-of-retail-investors-in-ma-votes\/","title":{"rendered":"The Rising Influence of Retail Investors in M&#038;A Votes"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row css_animation=&rdquo;fadeIn&rdquo; content_placement=&rdquo;bottom&rdquo; column_spacing=&rdquo;0px&rdquo; wpex_bg_image_source=&rdquo;featured&rdquo; css=&rdquo;.vc_custom_1740765101116{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&rdquo; min_height=&rdquo;450px&rdquo;][vc_column wpex_bg_image_source=&rdquo;featured&rdquo; css=&rdquo;.vc_custom_1738695614909{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&rdquo; wpex_bg_position=&rdquo;center center&rdquo;]<div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:300px;\"><\/div><style>.vcex-heading.vcex_698411a37a161{width:600px;color:var(--wpex-accent);font-size:var(--wpex-text-6xl);font-weight:600;line-height:var(--wpex-leading-tight);}@media (max-width:479px){.vcex-heading.vcex_698411a37a161{font-size:30px;}}<\/style><h1 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-max-w-100 wpex-mr-auto vc_custom_1740760034678 vcex_698411a37a161\"><span class=\"vcex-heading-inner wpex-inline-block\">The Rising Influence of Retail Investors in M&amp;A Votes<\/span><\/h1><style>.vcex-heading.vcex_698411a37bd87{width:600px;color:var(--wpex-accent);font-size:var(--wpex-text-lg);font-weight:600;line-height:var(--wpex-leading-tight);}@media (max-width:479px){.vcex-heading.vcex_698411a37bd87{font-size:16px;}}<\/style><h3 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-max-w-100 wpex-mr-auto vc_custom_1740761328938 vcex_698411a37bd87\"><a href=\"https:\/\/allianceadvisors.com\/staff-member\/sam-chandoha\/\" class=\"wpex-no-underline wpex-inherit-color-important\" target=\"_self\"><span class=\"vcex-heading-inner wpex-inline-block\"><span class=\"vcex-heading-icon vcex-heading-icon-left vcex-icon-wrap wpex-mr-5\">By<\/span>Sam Chandoha<\/span><\/a><\/h3><div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:50px;\"><\/div>[\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:30px;\"><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&rdquo;&rdquo;]Retail investors are increasingly shaping <a class=\"glossaryLink cmtt_Corporate Governance Advisory\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Corporate Governance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; The system of rules, practices, processes, and structures by which a company is directed and...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/south-korean-consumer-products-company\/&amp;quot;&gt;Case Study: Activism&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/the-importance-of-pre-agm-shareholder-engagement-cornerstone-practices-for-greater-china-2023\/&amp;quot;&gt;The Importance of Pre-AGM Shareholder Engagement Cornerstone Practices for Greater China 2023&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/ko\/glossary-index\/corporate-governance\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\" data-link=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/corporate-governance\/\" href=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/corporate-governance\/\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">corporate governance<\/a> and M&amp;A transactions, driven by the availability of accessible financial platforms and a growing willingness to exercise their shareholder voting rights. Unlike institutional investors, who have historically dominated shareholder votes, retail investors represent a dynamic and expanding bloc that companies must engage strategically. This report examines the rise of retail investor influence, key drivers of their participation, and actionable strategies for corporations to leverage this trend in critical M&amp;A votes.\n<h3>The Growing Influence of Retail Investors<\/h3>\n<p>Retail investors are becoming a pivotal force in US markets. According to Goldman Sachs, it is estimated that 38% of all US stocks are held directly by retail shareholders. Additionally, they anticipate U.S. retail investors will purchase $450 billion in shares in 2025, underscoring their significant economic impact. Younger investors, particularly Millennials, are driving this trend.<\/p>\n<p>This group, however, participates in corporate elections at a far lesser rate than their institutional counterparts. Our analysis of hundreds of shareholder meetings in 2025 found that barely 30% of retail shareholders vote in shareholder meetings, without solicitation. That number easily doubles when retail engagement strategies are deployed.<\/p>\n<h3>Drivers of Retail Investor Engagement<\/h3>\n<p>The surge in retail investor ownership is largely attributable to digital innovation. Online commission-free trading platforms, such as Robinhood, have democratized access to financial markets, with Robinhood reporting 25.2 million accounts at the end of 2024 compared with 5.1 million at the end of 2019. Social media platforms, including Reddit, Stock Twits, Yahoo, and emerging social investing platforms like Traderverse.io, have further amplified ownership and engagement by fostering discussions on investing and voting strategies for retail-heavy stocks.<\/p>\n<h3>Strategic Engagement with Retail Investors<\/h3>\n<p>Engaging retail investors requires a shift from traditional approaches. While institutional investors participate in 92% of shareholder meetings, only 30% of retail investors are currently active, presenting both a challenge and an opportunity. Long gone are the days when proxy solicitors could just pick up the phone and ask shareholders to vote.<\/p>\n<p>We estimate that 50% of all small-cap M&amp;A transactions succeed because active solicitation of the retail shareholders pushed the vote over the needed threshold. Companies must adopt proactive, transparent, and digital-first strategies to mobilize this group effectively.[\/vc_column_text][\/vc_column][\/vc_row][vc_row css=&rdquo;.vc_custom_1763044474852{padding-top: 25px !important;padding-right: 25px !important;padding-bottom: 25px !important;padding-left: 25px !important;}&rdquo; wpex_bg_color=&rdquo;#f1f1f1&Prime;][vc_column css_animation=&rdquo;fadeIn&rdquo;][vc_column_text css=&rdquo;.vc_custom_1763044929437{padding-bottom: 40px !important;}&rdquo;]\n<\/p><h3><span lang=\"EN-US\">Key strategies include:<\/span><\/h3>\n[\/vc_column_text]<style>.vcex-grid-container.vcex_698411a37cea3{gap:40px;}<\/style><div class=\"vcex-grid-container vcex-module wpex-grid wpex-gap-20 wpex-grid-cols-1 wpex-sm-grid-cols-1 wpex-lg-grid-cols-2 vcex_698411a37cea3\"><style>.vcex-icon-box.vcex_698411a37dc58{background-color:#ffffff;}.vcex-icon-box.vcex_698411a37dc58 .vcex-icon-box-heading{font-weight:600;}.vcex-icon-box.vcex_698411a37dc58 .vcex-icon-box-icon{font-size:35px;color:var(--wpex-accent);}<\/style><div class=\"vcex-module vcex-icon-box vcex-icon-box-two wpex-block vcex-icon-box-wo-icon wpex-shadow-2xl wpex-py-30 wpex-px-30 wpex-text-left vcex_698411a37dc58\"><div class=\"vcex-icon-box-text\"><h2 class=\"vcex-icon-box-heading wpex-heading wpex-text-md wpex-mb-10\">Shareholder Identification<\/h2><div class=\"vcex-icon-box-content wpex-last-mb-0 wpex-clr\"><div>Understanding the demographics and holdings of retail investors enables targeted outreach. There is no one-size-fits-all strategy; different tools are deployed to reach different share sizes. For example, an outbound telephone campaign to the smallest shareholder grouping is not cost-effective, but a text or email to vote campaign will bring in votes at a much better cost per vote.<\/div>\n<\/div><\/div><\/div><style>.vcex-icon-box.vcex_698411a37e87a{background-color:#ffffff;}.vcex-icon-box.vcex_698411a37e87a .vcex-icon-box-heading{font-weight:600;}.vcex-icon-box.vcex_698411a37e87a .vcex-icon-box-icon{font-size:35px;color:var(--wpex-accent);}<\/style><div class=\"vcex-module vcex-icon-box vcex-icon-box-two wpex-block vcex-icon-box-wo-icon wpex-shadow-2xl wpex-py-30 wpex-px-30 wpex-text-left vcex_698411a37e87a\"><div class=\"vcex-icon-box-text\"><h2 class=\"vcex-icon-box-heading wpex-heading wpex-text-md wpex-mb-10\">Dynamic Communication<\/h2><div class=\"vcex-icon-box-content wpex-last-mb-0 wpex-clr\"><div>Retail investors, particularly younger demographics, respond to digital campaigns, <span lang=\"EN-US\">targeted <\/span>social media engagement, and transparent messaging. For example, Disney&rsquo;s $40 million campaign to defeat Trian Partners demonstrates the value of robust, multi-channel outreach.<\/div>\n<\/div><\/div><\/div><style>.vcex-icon-box.vcex_698411a37f351{background-color:#ffffff;}.vcex-icon-box.vcex_698411a37f351 .vcex-icon-box-heading{font-weight:600;}.vcex-icon-box.vcex_698411a37f351 .vcex-icon-box-icon{font-size:35px;color:var(--wpex-accent);}<\/style><div class=\"vcex-module vcex-icon-box vcex-icon-box-two wpex-block vcex-icon-box-wo-icon wpex-shadow-2xl wpex-py-30 wpex-px-30 wpex-text-left vcex_698411a37f351\"><div class=\"vcex-icon-box-text\"><h2 class=\"vcex-icon-box-heading wpex-heading wpex-text-md wpex-mb-10\">Retail Engagement Must be Prioritized<\/h2><div class=\"vcex-icon-box-content wpex-last-mb-0 wpex-clr\"><div><span lang=\"EN-US\">Early planning is critical. In many M&amp;A transactions, retail engagement is flat-out ignored until the very end, when the vote is not materializing as planned. Retail engagement takes time to implement and to produce votes, so it must be part of the overall solicitation strategy at the beginning of each transaction.<\/span><\/div>\n<\/div><\/div><\/div><style>.vcex-icon-box.vcex_698411a37fe4f{background-color:#ffffff;}.vcex-icon-box.vcex_698411a37fe4f .vcex-icon-box-heading{font-weight:600;}.vcex-icon-box.vcex_698411a37fe4f .vcex-icon-box-icon{font-size:35px;color:var(--wpex-accent);}<\/style><div class=\"vcex-module vcex-icon-box vcex-icon-box-two wpex-block vcex-icon-box-wo-icon wpex-shadow-2xl wpex-py-30 wpex-px-30 wpex-text-left vcex_698411a37fe4f\"><div class=\"vcex-icon-box-text\"><h2 class=\"vcex-icon-box-heading wpex-heading wpex-text-md wpex-mb-10\">Retail Shareholders Support Management<\/h2><div class=\"vcex-icon-box-content wpex-last-mb-0 wpex-clr\"><div><span lang=\"EN-US\">One thing that has not changed is that retail shareholders vote in low numbers, but when they do vote, they overwhelmingly support management at 90+ percent in favor percentages.&nbsp; Therefore, retail must be part of the strategy to secure management-friendly blocks of votes. &nbsp;&nbsp;By prioritizing retail engagement, companies can strengthen their position in M&amp;A, proxy battles, and other critical votes.<\/span><\/div>\n<\/div><\/div><\/div><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&rdquo;&rdquo;]\n<h3>Looking Ahead<\/h3>\n<p>Retail investor influence is poised to grow further, and as institutional activism continues to rise, retail investors offer a strategic counterbalance for executives navigating governance challenges.<\/p>\n<p>To capitalize on this opportunity, companies should partner with shareholder advisory firms to identify retail investors and tailor engagement strategies. &nbsp;By investing in these relationships early, corporations can build a loyal <a class=\"glossaryLink cmtt_Retail Shareholder Solicitation\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Retail Shareholder&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; Retail Shareholder are Individual investors who own shares of a company&amp;#039;s stock.. Retail...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/south-korean-consumer-products-company\/&amp;quot;&gt;Case Study: Activism&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/ko\/perception-studies-are-the-foundation-for-effective-targeting\/&amp;quot;&gt;Perception Studies are the Foundation for Effective Targeting&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/ko\/glossary-index\/retail-shareholder\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\" data-link=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/retail-shareholder\/\" href=\"https:\/\/allianceadvisors.com\/ko\/glossary-index\/retail-shareholder\/\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">retail shareholder<\/a> base to support long-term success.<\/p>\n<h3>Conclusion<\/h3>\n<p>The rise of retail investors marks a transformative shift in corporate governance and M&amp;A transactions. By leveraging digital tools, transparent communication, and targeted outreach, companies can harness this growing bloc to influence M&amp;A votes and other pivotal decisions. Proactive engagement, informed by data and expert guidance, will be critical for executives seeking to navigate this evolving landscape effectively.[\/vc_column_text][\/vc_column][\/vc_row][vc_row content_placement=&rdquo;middle&rdquo; remove_bottom_col_margin=&rdquo;true&rdquo; css=&rdquo;.vc_custom_1764667698741{padding-top: 20px !important;padding-right: 20px !important;padding-bottom: 20px !important;padding-left: 20px !important;}&rdquo; wpex_bg_color=&rdquo;#f1f1f1&Prime;][vc_column width=&rdquo;2\/3&Prime; css=&rdquo;.vc_custom_1762972495837{padding-bottom: 20px !important;}&rdquo;][vc_column_text css=&rdquo;&rdquo; font_size=&rdquo;14px&rdquo; font_style=&rdquo;italic&rdquo;]\n<\/p><p style=\"font-weight: 400;\">First published on IR Impact and Governance Intelligence. Permission to use this reprint has been granted by the publisher.<\/p>\n[\/vc_column_text][\/vc_column][vc_column width=&rdquo;1\/3&Prime;]<div class=\"vcex-image-grid-wrap\"><div class=\"vcex-module vcex-image-grid grid-style-default wpex-row wpex-clr\"><div class=\"id-55594 vcex-image-grid-entry vcex-grid-item wpex-text-center span_1_of_2 col col-1\"><figure class=\"vcex-image-grid-entry-figure wpex-last-mb-0 wpex-clr\"><div class=\"vcex-image-grid-entry-img entry-media wpex-relative wpex-mb-20\"><a href=\"https:\/\/www.ir-impact.com\/2025\/12\/the-rising-influence-of-retail-investors-in-ma-votes\/\" class=\"vcex-image-grid-entry-link\" target=\"_blank\" rel=\"noopener\"><img width=\"300\" height=\"399\" src=\"https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/IR-logo-no-border.jpg\" class=\"wpex-align-middle\" alt=\"\" loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/IR-logo-no-border.jpg 300w, https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/IR-logo-no-border-226x300.jpg 226w, https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/IR-logo-no-border.jpg?w=60 60w, https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/IR-logo-no-border.jpg?w=120 120w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><\/a><\/div><\/figure><\/div><div class=\"id-55588 vcex-image-grid-entry vcex-grid-item wpex-text-center span_1_of_2 col col-2\"><figure class=\"vcex-image-grid-entry-figure wpex-last-mb-0 wpex-clr\"><div class=\"vcex-image-grid-entry-img entry-media wpex-relative wpex-mb-20\"><a href=\"https:\/\/www.governance-intelligence.com\/shareholders-activism\/rising-influence-retail-investors-ma-votes\/\" class=\"vcex-image-grid-entry-link\" target=\"_blank\" rel=\"noopener\"><img width=\"300\" height=\"399\" src=\"https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/Governance-Intelligence-logo-no-border.jpg\" class=\"wpex-align-middle\" alt=\"\" loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/Governance-Intelligence-logo-no-border.jpg 300w, https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/Governance-Intelligence-logo-no-border-226x300.jpg 226w, https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/Governance-Intelligence-logo-no-border.jpg?w=60 60w, https:\/\/e4h8grreyn6.exactdn.com\/wp-content\/uploads\/2025\/02\/Governance-Intelligence-logo-no-border.jpg?w=120 120w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><\/a><\/div><\/figure><\/div><\/div><\/div>[\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row css_animation=&#8221;fadeIn&#8221; content_placement=&#8221;bottom&#8221; column_spacing=&#8221;0px&#8221; wpex_bg_image_source=&#8221;featured&#8221; css=&#8221;.vc_custom_1740765101116{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; min_height=&#8221;450px&#8221;][vc_column wpex_bg_image_source=&#8221;featured&#8221; css=&#8221;.vc_custom_1738695614909{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; wpex_bg_position=&#8221;center center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;&#8221;]Retail investors are increasingly shaping corporate governance and M&amp;A transactions, driven by the availability of accessible financial platforms and a growing willingness to exercise their shareholder voting rights. Unlike institutional investors, who&hellip;<\/p>\n","protected":false},"author":35,"featured_media":56256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[227],"tags":[],"post_series":[],"ppma_author":[466],"class_list":["post-62774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-ko","entry","no-media"],"authors":[{"term_id":466,"user_id":35,"is_guest":0,"slug":"sam","display_name":"Sam Chandoha","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/4abd01346cb2b66f0d5ee79d510a9371357242d7a11a50a2db5ec2283acdf28c?s=96&d=mm&r=g","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts\/62774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/comments?post=62774"}],"version-history":[{"count":2,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts\/62774\/revisions"}],"predecessor-version":[{"id":62840,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/posts\/62774\/revisions\/62840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/media\/56256"}],"wp:attachment":[{"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/media?parent=62774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/categories?post=62774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/tags?post=62774"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/post_series?post=62774"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/allianceadvisors.com\/ko\/wp-json\/wp\/v2\/ppma_author?post=62774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}