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Here in Japan, the extreme importance of risk intelligence – taking on the right amount of risk andunderstanding, avoiding andmanaging the rest – has been made blazingly clear in recent months. These report make clear what are the practices that can be used to optimize risk intelligence, and what are the benefits.
GENERAL PRACTICE
Board Leadership (May 2011)
http://bdti.mastertree.jp/f/vcxe3zjl
Fueling the Succession Pipeline(April 2011)
(From Robert A.G. Monks' blog, http://www.ragm.com .)
And the answer is…. I still don't know
These two recent reports by Deloitte seem to fit together like hand and glove.
The first, Board Leadership: A Global Perspective, describes the emerging trends in various major markets around the world with respect to the roles of CEO, Chairman (split roles or same person? independent Chairman?) and lead directors, etc.
The British Chamber of Commerce in Japan's magazine, Acumen, published an interview with Representative Director Nicholas Benes about BDTI. Since we will be undertaking a fundraising drive soon, we hope this article willhelp us locate potential donorsand acquaint them with us.Pleasesend it around!
http://bccjacumen.com/issues/2011/06/social-entrepreneurship/
So, many observers around the world seem to think that U.S. Investor'Say on Pay' Is a Bust, which is thetitle of this article in Business Week:
– which makes the perfectly logical and factual point that after all the hoopla, The bottom line: Shareholders this year for the first time could vote on executive pay. A majority voted against pay plans at only 32 of 1,998 companies.
May 25, 2011 – In a meeting open to the public, the SEC approved its final rules implementing the whistleblower provisions in Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Here are the final rules, which mandate the payment of large incentive rewards to whistleblowers.
Philip Leslie and Paul Oyer at Stanford GSBhave concluded in this working paper what I think most investment bankers sort of already knew. But it is certainly useful to confirm.
Working paper by David F. Larcker and Anastasia A Zakolyukina at Stanford:We find that answers of deceptive executives have more references to general knowledge, fewer non-extreme positive emotions, and fewer references to shareholders value and value creation. In addition, deceptive CEOs use signicantly fewer self-references, more third person plural and impersonal pronouns, more extreme positive emotions, fewer extreme negative emotions, and fewer certainty and hesitation words.
Professor, Gerald F. Davis Stephen M. Ross School of Business at the University of Michigan, has written a fascinating paper with the above title, available athttp://bit.ly/lQSiit.
Abstract
The following interview appeared as part of GovernanceMetrics International’sFounders’ Forum. GMI is the leading independent provider of global corporate governance and ESG ratings and research. Corporate stakeholders – including leading investors, insurers, auditors, regulators and others – use GovernanceMetrics services to identify and monitor risks related to non-financial measures covering key environmental, social, governance and […]