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From the GMI Newsletter – Large gaps between the compensation of CEOs and other named executives do not necessarily indict the CEOs as imperial or the boards and senior management teams as ineffectual. Any quantitative or binary measure of counter-productive concentrations of power requires thoughtful application to specific companies.
Last Friday (May 14th) the Japanese Cabinet approved its much-awaited Growth Strategy, which included mention of corporate governance as part of the strategy (see the proposals below), but did not include the proposals the LDP made in its May 10th Interim Report to require public companies to disclose their policies with respect to training for all new and continuing directors.
Turkey has promulgated a new Code of Commerce, bringing sweeping changes to the countries economic law foundations, including the requirements that all companies (private ones too) have certain information on their web site including financial statements and auditors's reports9, that companies protect minority investors and ensure the properness of related-party transacitons,, that public companies have independent directors comprising a minimum of one-third of the board (and one-halfof the board be outside.)
Abstract.We analyse the structure of corporate boards in Japan to determine whether they are matched to each firm’s specific needs. Consistent with US findings, our results show that board size is positivelyrelated to firm size
and firm complexity, and negatively related to monitoring costs. However, board independence appears to be unrelated to most firm characteristics. This suggests that Japanese boards are not optimally structured to carry
The following entry appeared as part of Governance Metrics 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, […]
The following entry appeared as part of Governance Metrics International’s GMI Blog. GMI is the leading independent provider of global corporate governance and ESG ratings and research.
Mr. Kengo Nishiyama, Senior Strategiest of Nomura Securities analyzes thetrend of the corporate AGMs this year and sees progress in appointment of external directors in his recent report titled 'Preview of June 2013
shareholders' meetings'
Click the following address for download.
http://bit.ly/11wU4Mc
The following entry appeared as part of Governance Metrics 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.
In its excellent May 10th Interim Report, the LDP's Headquarters for the Economic Revitalization of Japan 1) promised to make the introduction of one independent outside director a certainty within the year; 2) proposed rules to require public companies do disclose their policy and actions (numbers trained) with respect to training of newboard members,and continuing trainng; and 3) promised toconsidermeasures to abate cross-shareholdingsby banks, including the prohibition thereof.
