Professors Coffee and Palia: “The Wolf at the Door: The Impact of Hedge Fund Activism on Corporate Governance”

“VI. Conclusion

For better or for worse, two major transitions are now in progress. First, corporate governance is moving from a “board-centric” system toward a “shareholder-centric” system.249 Second, public corporations are increasingly under pressure to incur debt and apply earnings to fund payouts to shareholders, rather than to make long-term investments. Neither transition is wholly the product of hedge fund activism, but that force is accelerating both transitions.

Kiyoshi Kurokawa’s Blog: Visualizing Fukushima – Nuclear Accident Independent Investigation Commission Report (NAIIC)

Thirty months or two and a half years have already passed since the Fukushima nuclear accident. How have TEPCO and the Japanese government been dealing with the aftermath of the accident? The international community which has watched them with serious concerns may have been stunned with their substandard information disclosure and communication skills. The overseas media has covered this issue with as much interest and concern as the conflict in Syria.

It has already been fourteen months since the NAIIC submitted its report to Diet as the first independent investigation commission in the constitutional history of Japan.

Raising awareness about the report to the national public and making it easy to understand was not a task assigned to the Commission. However, I’m pleased to announce that there are young people who have taken up the job.

Japanese Government Announces its Strategy on Cybersecurity – But Most Japanese Boards Lag

The Japanese government has announced its policy/strategy on cybersecurity, one of the most important emerging risk topics in foreign board rooms nowadays. The same level of concern has not quite made its way to Japanese board rooms. (Nine months ago when BDTI held a seminar on this subject, only about 25 people showed up, and most of them were from IT departments.)

An English version of the policy is available here: