True “Stewardship” in Japan – Actions That Speak Louder than Words

There has been a lot of talk about stewardship in Japan over the past year. And there have been fine statements and announcements made about stewardship commitments by many institutions. This is all good, even if it is not clear how all this will play out.

But actions speak much louderthan words, – so we at BDTI think it fittingto point out that the following institutions have supported The Board Director Training Institute of Japan (BDTI) by making significant donations, in many cases more than once:

“Board Self-Evaluations: Practical and Legal Implications”

(Introduction) – The NYSE mandates that the boards of listed companies undertake an annual self-evaluation to determine whether they and each of their committees are functioning effectively. While Nasdaq does not impose similar requirements, companieslisted on this exchange, as a matter of good governance, often undertake thisperformance review.

Paper: “Gender Diversity and Securities Fraud”

Abstract: We formulate theory and set forth a first-ever empirical analysis of the impact of board of director gender diversity on the broad spectrum of securities fraud, generating three main insights. First, the examined data show strong evidence consistent with the view that the importance of women on boards in mitigating securities fraud lies in the mechanism of diversity itself, such that the optimalpercentage of women on boards is 50% with respect to minimizing securities fraud.