Research suggesting Japanese companies can benefit from a high ratio of outside directors and outside auditors.
Introduction – Too often boards of directors are overloaded with directors who are disruptive, passive, no longer current, or just taking up seats that could be used by more qualified individuals. Unfortunately, a top boardroom challenge is to devise ways to have more frequent director rotations.
Accelerating corporate governance reform
ABSTRACT – This paper argues for the pivotal role played by accountability in both corporate governance theory and practice.
A Summary –
Dichev – Managing earnings – 2012
Abstract – We examine how institutional changes that lower the barriers to successful exit influence the rate of IPO, and the initial capitalization and performance of subsequent ventures in Asian contexts. Such IPO market reforms are widespread, but their effectiveness in unclear, especially in Asia
Fewer than 300 listed subsidiaries with listed parents for first time since end-FY98 — Based on Toyo Keizai major shareholder data, we estimate that 298 companies were listed subsidiaries with listed parents as of end-FY12 H1 (end-September 2012). This represents a net decrease of eight from 304 as of end-FY11 (end-March 2012) (Figure 1). The number has fallen below 300 for the first time in the 13 and a half years since end-FY98, when there were 281.
Main reason for decline is delisting on conversion to wholly owned subsidiary.
Globally, utilities sector has high ESG scores….Our analysis using ESG (environment, social and corporate governance) scores from ECPI, an Italian independent research provider, shows that of the eight sectors used by
Abstract: This Article puts forward the case for SEC rules requiring public companies to disclose their political spending. We present empirical evidence indicating that a substantial amount of corporate spending on politics occurs under investors’ radar screens and that shareholders have significant interest in receiving information about such spending. We argue that disclosure of corporate political spending is necessary to ensure that such spending is consistent with shareholder interests.