Views on improving the integrity of global capital markets

Corporate Governance

Corporate Governance Update: BlackRock, Western Union, Olympus Kick off 2012 with a Bang

Matt Orsagh, CFA, CIPM, gives you a sneak peek at the corporate governance issues to watch in 2012.

Book Review: Fixing the Game: What Capitalism Can Learn from the NFL

In his book, "Fixing the Game," Roger Martin claims that American CEOs managing for the the stock market is akin to NFL coaches and quarterbacks judging their success based on beating the point spread instead of actual wins and losses.

GE and KPMG: Too Close for Investor Comfort, but Not for SEC?

Shareholder concerns about a too-cozy relationship between GE and it's longtime auditor, KPMG, earns a finger wag from the SEC but not much else.

Excess Cash on the Balance Sheet? Globally, Investors Trust Corporations to Keep It, with a Few Exceptions

In a recent survey, CFA Institute asked our members what companies should do with excess cash held on their corporate balance sheets. We asked if they preferred that corporations retain their cash to make investments or self-fund corporate activities, or return the cash to shareowners through an increase in dividends, a special dividend, or a share buyback. We offered a noncommittal other option for the indecisive. The answers were illuminating, pointing to economic and perhaps cultural differences among respondents in markets around the world.

Global Corporate Governance: What Happened in 2011 and What to Expect in 2012

We don’t wish to play favorites here, so we won’t look at any single corporate governance development as more important than another. So let’s review alphabetically, by country:

Australia: In 2011, the “two-strikes rule” (Corporations Amendment Bill 2011)… READ MORE ›

New Year’s Resolution: Better CEO Compensation Disclosure in 2012

Last week GovernanceMetrics International (GMI) published its 2011 CEO Pay Survey highlighting changes in compensation levels for CEOs of U.S. companies in 2010. In the days following the survey’s release it was hard to avoid headlines decrying… READ MORE ›

Vote Early, Vote Often: Mark Your Ballot for the Worst in Disclosure for 2011

One of the joys of the year end is sifting through the interminable “best of/ worst of” wrap-ups found in seemingly every print or web publication. Whether you love or loathe this end-of-year tradition, we have a treat for… READ MORE ›

Corporate Governance Update November 2011: Canada Sets High Bar. Australia Throws First Strikes.

Europe — Corporate Governance Changes in the Midst of the Sovereign Debt Crisis

Given the trajectory of headlines around the European financial crisis, by the time you read this post, the EU may not exist as an economic union. But… READ MORE ›

REIT Governance: from Father to Son but at What Price?

As the recent K-REIT acquisition of 87.5 percent of Ocean Financial Centre from K-REIT parent company Keppel Land — and whether the deal was fair to minority shareholders — continues to hog the limelight, the Monetary Authority of… READ MORE ›

Blurry Images: Investors, Regulators, Auditors Missed Olympus Warning Signs

It is alarming to note how much has transpired in the past month at Olympus Corporation in Japan. According to published reports, Michael Woodford, the ex-CEO of Olympus, began an investigation of the company’s records. This has unearthed… READ MORE ›

Asian REIT Market — Growing Pains for Investors

“Singapore overtaking Japan REITs” — that was the headline of an article in the October 2011 issue of AsianInvestor. Both REIT markets started a decade ago and took a pounding in the 2008 global financial crisis. Since then, Singapore… READ MORE ›

Corporate Governance in Japan — Plenty of Room for Improvement

Every year there are a few stories in the world of corporate governance that make investors shake their heads and say, “What was the board thinking?” The recent headlines involving Olympus in Japan may give the News Corp…. READ MORE ›

Asset Manager Code Recognized as Best Practice by International Corporate Governance Network

A leading global organization working to promote good corporate governance practices recently recommended that asset holders ask investment firms to comply with requirements of the CFA Institute Asset Manager Code of Professional Conduct. The International Corporate Governance… READ MORE ›

Will “Say on Pay” Go Global, or Has It Already?

Much of the focus in this year’s global proxy season has been on the advisory vote on pay —more colloquially known as “say on pay” — in the United States. With thousands of companies facing a vote on executive… READ MORE ›

Proxy Access Rejected — Killing It Softly

Though arguably the weightiest potential corporate governance change in decades, a U.S. appeals court’s Friday ruling  striking down the SEC’s proxy access rule seemed to get lost in the sweltering weekend heat wave… READ MORE ›

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