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OnBDTI's Japanese discussion forum, you can download all the responses we have received so farto our survey on who and what are responsible for Fukushima?As you might guess, manyof the responses are pithy and from the heart, and seem to indicate achange in the mood of the populusregarding the need to to improvecorporate governace and risk management.
Hilmar Hierop has asked us to upload his paper on fiduciary fraud, aconcept now getting more traction inEuropean legal circles. Fiduciary fraud concerns fraud in the context of a relationship between a fiduciary and a beneficiary. Essential to fiduciary fraud is the non-compliance with the fiduciary duty of (absolute) loyalty of the fiduciary towards the beneficiaries and with the requirements regarding prudent asset management and the full and timely disclosure of conflicts of interest, which are inherent to the financial sector.
Tomorrow's Company has published this well-written and convincing Manifesto setting forth the case for Stewardship, which is broader conceptwhich mayhave more policy impact than acronymwords like SRI, CSR or ESG:
Mismanagement at Tepco is a symptom of deeper governance progems in corporate Japan
– Article by Nicholas Benes, at http://on.wsj.com/is5TJd
If you have trouble accessing/viewing the article, please feel free to contactBDTI at info@bdit.or.jp.
BDTI is doing an informal survey of opinions among Japanese persons on the topic of: who is responsible for Fukushima, and what structural factors caused it to happen (or aggravated it)?
(PDTI has received this apt comment from a viewer who prefers to remain anonymous)
In regards to Subsidiary (in the US) versus US Public Company responsses to JSOX/SOX deficiencies: US Company Execs seem quite accepting of having a handful of minor deficiencies found each quarter as long as there are no significant deficiencies or material weaknesses. They treat these minor deficiencies as a method of improvement to deal with […]
Although there were not enough foreign respondents to BDTI's survey on attitudes by them towards corporate governance to make the results statistically significant, we did get 72 respondents and a number of insights and interesting contrasts.
The full-fledged (prior) response results from Japanese participantsare summarized at bottom below.Below, are some ofthe intriguing highlightsandcontrasts from the survey of foreigners.
Bob Eberhart, a Professor at Stanford's SPRIE and the Stanford Project on Japanese Entrepreneurship, gave an excellent presentation toa group of us this week. You can download his materials at:
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)