PwC’s Annual Corporate Directors Survey – 52% Believe Annual Training Should be Required

Corporate governance is undergoing significant change, which means directors across the country are spending more time on board work and prompting them to reconsider their oversight approach. But challenges remain. Directors expect to increase their focus on the critical areas of board composition, risk management, strategy and IT oversight. Explore our 2012 Annual Corporate Directors Survey for a deeper look into directors' views on these major issues.

Survey's key findings

“Does the Gender of Directors Matter?” – by Miriiam Schwartz-Ziv

Abstract: “How does gender-balance affect the working of boards of directors? I examine boards that have been required for two decades to be relatively gender-balanced: boards of business companies in which the Israeli government holds a substantial equity interest. I construct a novel database based on the detailed minutes of 402 board- and board-committee meetings of eleven such companies.

ACGA Publishes “CG Watch 2012”, Downgrades Japan to 4th in Asia, Praises BDTI’s Activities

The ever-active Asian Corporate Governance Associations (ACGA)has published CG Watch 2012,downgrading Japan's corporate governance regime to 4th in Asia, on a part (a tie) with Malaysia.Japan is also lagging most markets in not requiring any training of directors, which is shocking when the statutory auditors (ie, audit committee equivalent) are supposed to be the guard dogs of governance. A summary of the volumiminous full report is available below.

Learning and the Disappearing Association between Governance and Returns – by Professors Bebchuk, Cohen and Wang

[From Lucian Bebchuk of Harvard Law School ] – Below is a link to a column in the New York Times DealBook, titled Investing in Good Governance <> , that I thought you might find of interest. The column discusses the findings of a study co-authored with Alma Cohen and Charles Wang about the correlation between governance and stock returns.

All of “In the Board Room with Lucy Marcus”, on YouTube (Videos)

These are simply great. Highly recommended. —–> Lucy Marcus, an award-winning and internationally-recognized expert on boards, corporate governance, and leadership has a conversation with a variety of people who are making a real impact on moving the needle of how boards are operating now and in the future around the world, including influential board directors, […]

HK Exchange Publishes Consultation Paper on Board Diversity

Hong Kong Exchanges and Clearing Limited published a consultation paper on proposed changes to the Corporate Governance Code and Corporate Governance Report (Code) concerning board diversity. The change involves a ‘comply or explain’ provision for all companies listed on its Exchange to have a policy on board diversity, and to report on this policy in their corporate governance and interim reports.

White & Case: “FSA’s Proposal to Prevent the Recurrence of the AIJ Scandal and the Results of Second Survey”

On September 4, 2012, the Financial Services Agency of Japan (“FSA”) published its proposal of measures to prevent the recurrence of the AIJ scandal while providing the opportunity to the public to provide their opinions regarding such measures by October 4, 2012. In addition to the foregoing, the FSA also published the interim results of the second survey that the FSA commenced this April regarding certain discretionary investment management companies (“DIMs”) selected by the FSA in accordance with the first survey.