Category: Management

ABSTRACT – This paper argues for the pivotal role played by accountability in both corporate governance theory and practice.

Article Abstract: We develop a classification to score the potential of corporate audit committees to he financially literate, as defined in this paper, based on listing requirements of the New York Stock Exchange (NYSE), as promulgated late in 1999. We score audit committees of approximately 300large companies in 2000 and 2004, and of a subsample in 1996 as well.

Video of luncheon zadankai discussion titled Global Leadership Challenges for Japanese Companies, featuring Sheena Iyengar , S.T. Lee Professor of Business Columbia Business School. Moderated by Hugh Patrick, Director, Center on Japanese Economy and Business Columbia Business School.

In previous years, Sodali’s Memo has been successful in bringing to the attention of practitioners concepts such as the convergence of Corporate Governance and Investor Relations, the role of the Board in communicating with shareholders and the rise of the so-called “value activism”.

(Written by Douglas Y. Park, Partner, Rimon, PC) – Shareholder activism has long carried a negative connotation among board members. The shareholder activist is too often seen as the gadfly shouting during the annual shareholders meeting, or the extremist group calling for divestment from certain countries.

Report by Santiago Chaher and James David Spellman,　sponsored by the IFC and the Global Corporate Governance Forum – What should board members know about social media as it relates to a company’s ability to do business and safeguard its image? And what is the board’s role in helping a company make the best use of social media—and defending against its misuse? Two corporate governance practitioners provide insights on the power of new social technologies to shape boards’ decisions and bolster stakeholders’ influence.

Matt Orsagh of the CFA Institute has put together anexcellent roundup of recent reforms, innovations and new rules related to corporate governance. We think some of the innovation coming out of Turkey is most interesting. (Apropos of nothing, – Turkey, by the way, has a relatively high percentage of female directors compared to all nations in Europe.)

The well-read newsletter GlobalProxyWatch, The Newsletter of International Corporate Governance and Shareowner Value, reported on the recent event on diversity in the board room that was held by the Canadian Chamber, organized by BDTI, and well-supported by others including the ACCJ and participation by McKinsey:

In the spring of 2012, The Conference Board and the Rock Center for Corporate Governance at Stanford University conducted a survey of executives and board members to gain insight into how senior-level decision makers in North American companies view social media, and the extent to which they incorporate it into their corporate strategy and risk management practices.

Summary:Singapore, Hong Kong, Korea and India makesignificant reference to director training, and specify requirements or guidelines with respect to it.This is in keeping with the OECD's Priorities for Asia that were agreed last November. Most other jurisdictions also make some sort of reference to training. Japan does nothing it all; it does not even have a Corporate Governance Code or listing requirements on the topic.

Japan – Nothing at allto report.