Many Japanese executives and commentatorssound a lot like the U.S. Business Roundtabledid(see below) on the topic of stakeholder capitalism vs. shareholder primacy. I personally think this has become a semi-religiousargument with no point, the real question being whether managers are really thinking about shareholders'long-term interestsor (conversely)whether they really analyzing and prioritizing all stakeholders from the point of view of sustainable profitability.
Author: Admin
(E&Y) A Preview of Environmental and Social Shareholder Proposals
Environmental and social topics continue to be the dominant category of shareholder proposals based on the number of proposals submitted – more than half to date.
They also represent the leading area for proposals withdrawn in connection with successful company-investor engagement and agreement prior to the proposal going to a vote. This agreement may include implementation of the proposal in part or full, providing additional disclosure, or a commitment to ongoing dialogue on the topic.
ACCJ Commends LDP’s Initiative in Considering Creation of a Corporate Governance Code (ACCJ Viewpoint)
The American Chamber of Commerce in Japan（ACCJ) released a new Viewpoint,Implement a Corporate Governance Code to Encourage Listed Companies in Japan to Adopt Best Practices and Uniform Disclosure. In the Viewpoint the ACCJ praisesthe LDP for its initiative moving in this direction because it is necessary to encourage uniform disclosure about corporate governance practices at each company, something that is essential in order for the Stewardship Code to be effective.
Pakistan: Major Progress Towards Requiring, Institutionalizing Director Training and Certification
In recent years, Pakistan has made major progress in improving its corporate governance ecosystem, especially in the area of director training and certification – which is now generally required for all directors of public companies pursuant to the Corporate Governance Code.
Accelerated Certificate in Company Direction: PICG, IoD join hands to introduce certification
KARACHI: Pakistan Institute of Corporate Governance (PICG) has joined hands with the UK’s Institute of Directors (IoD) to introduce the globally recognised Accelerated Certificate in Company Direction under the Royal Charter in Pakistan.
Addressing a press conference on Monday, PICG President and CEO Fuad Hashimi said the qualification will provide Pakistan’s professionals with an opportunity to become part of a global network of trained directors in 34 countries.
“Shortage of Female Directors in Japan” by Takashi Kotani (JB Press)
Takashi Kotani, an advisor of corporate communications, pointed out another 2020 problem in Japan – Shortage of female directors in Japan – Unintended effect of Abe's Womenomics policies; firms will be scraping bottom of barrel.
Important Lessons from the Demise of Kodak – Making the Hard Decisions Early Enough
Kodak, former photography trailblazer, files for bankruptcy
http://www.pressherald.com/news/Former-trailblazer-Kodak-files-for-Chapter-11-.html?pagenum=full
Kodak: A Lesson In Risk Aversion
https://www.bluesteps.com/Blog/Kodak-A-Lesson-in-Risk-Aversion.aspx
“Why Talk?” – The Process of Dialogue in Shareholder Engagement
Abstract: In explaining how activists engage corporations, social movement theory has provided a compelling account of contentious activism and tempered radicalism. The growing use of dialogue, by contrast, has not received a comparable level of attention. On the basis of a four-year qualitative study of a faith-based coalition of investors, we develop a process model of how shareholder dialogue leads to corporate change. Through repeated engagement activists leverage internal corporate political debate to achieve synthesis.
Brazil’s New Anti-Corruption Law – Strict Liability!
No criminal charges, but strict liability, big fines, and liability for bribes of private companies as well as public officials. — Under the new rule, there are administrative and judicial sanctions. Fines are between 0.1 percent and 20 percent of a company’s gross revenue from the prior year. If gross revenue is not known, fines are between $3,000 and $30 million. The payment does not exempt a company from paying losses generated to the government as a consequence of its wrongdoings.
Working Paper: Culture and Law in Corporate Governance
Amir N. Licht Interdisciplinary Center (IDC) Herzliyah – Radzyner School of Law; European Corporate Governance Institute (ECGI) (March 6, 2014 – European Corporate Governance Institute (ECGI) – Law Working Paper No. 247/2014) –