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Professor Kyoji Fukao, Program Director and Professor, Institute of Economic Research, Hitotsubashi University, wrote this on-point article in the Nikkei Newspaper's Keizai Kyoushitsu column on July 27 of 2011, describing the challenges that Japan's economy faces and the what is needed to get it growing again.
Much of the article appears below, but you can see the full article and the charts on RIETI's web site:
We have uploaded this useful document to the data libary, in the Foreign folder under Shearman & Sterling.
There is an excellent analysis of corporate philanthropy programs in the U.S. – reviewing their trends, issues,and tendencies – the Harvard Law School Forum on Corporate Governance and Financial Regulation:
The majorconclusions of the entry, madeby Matteo Tonello of TheConference Board, are asasfollows:
For some time it has seemed to me that our thinking about corporate governance has become blindered by the existingframework and playerswe have created, which have becomeself-sustaining and assumed to be immutablenomatter howimperfectthey are.This is the first of a series of ideas and suggestions that I hope will provoke productive discussion unhindered by such assumptions.
(Note:thevideos in the link below are worth watching, on the topic of managing and governing entrepreneurial firms, and related public policy.)
19 April 2011 World Economic Forum (press release)
Too big to fail. Massive externalization of risks. Environmental damage. Institutionalized moral hazard…..
Corporations havebecome so powerful over the years. Surely, they are one of the dominant institutions in today's world.
In an era when we see so much damages caused by corporations, maybe it is good idea to look at the origin, history and evolution of corporations and to rethink about what corporations really exist for.
In the U.K., it is sometimes said that the company secretary is the conscience of the company. From this it is clear that this is a very established role in the U.K., with greater impact than the U.S. and Japan. Some say that this role should be clearly adopted by statutory auditors in Japan.
From thisreport/survey by theComany Secretarial Services Quality House, one can get a better idea of what company secretaries in the U.K. actually do:
Mary-Hunter McDonnell and Brayden King of the Northwestern University School of Law, and theNorthwestern University School of Management, have produceda very revealing (if predictible) research paper with the above title.
(Conclusion of Working Paper – last page)
Sorry, but I can't resist asking: Feel Sorry for Tokyo Electric Power Co? (A cross-post from http://bit.ly/feNIgN) (Note; tongue firmly in cheek: see my straight post earlier: Institutionalized moral hazard: Fun with Nuclear Power in Japan, or, prepare for a glowing twilight, with scattered fallout in the morning – TT's Lost in Tokyo http://bit.ly/hvvWHU)
The followingentry appeared as part of GovernanceMetrics International’s GMI Blog. 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 accounting risk factors.