The Stanford Graduate School of Business has published an intriguing paper entitlted Ten Myths of Say on Pay –>
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SEC Finalizes Rule for Compensation Committee Listing Standards and Compensation Consultant Conflicts
Fromthe report STAY CURRENT, published by Paul Hastings.
SEC Finalizes Rule for Compensation Committee Listing Standards and Compensation Consultant Conflicts
BY MARK POERIO & ELIZABETH A. RAZZANO
Presentation: “Japan is Not the Next Greece”, by Richard Katz
Theinsightful and articulateeconomist Richard Katz was in town last week, and gave presentations to a number of groups, including the American and French Chambers of Commerce in Japan. The theme of his presentation and views was particularly timely, as it focused on a cogent explanation of why Japan is Not the Next Greece.
At Mizuho FG, Shareholder Proposals Make History: 7 Proposals Get 23% or Greater Support (Director Training Disclosure, 28%)
The results of voting on the 10 shareholder proposals submitted to Mizuho Financial Group's AGM have been been disclosed. In asignificant turn of events, no less than seven of the 10 proposals submitted by shareholders were supported by at least 23% of shareholders. Within that group, the highest support ratio (28%) was for the proposal that would have required Mizuho FG to disclose its policy with respect to director training, and actions taken to execute that policy each year.
Professor Bainbridge on “Say on Pay”
Say on Pay Myths
(From Bainbridge.com) I just read a very important paper, challenging the mythology that has grown up around say on pay.Larcker, David F., McCall, Allan L., Ormazabal, Gaizka and Tayan, Brian, Ten Myths of 'Say on Pay' (June 28, 2012). Available at SSRN: http://ssrn.com/abstract=2094704
Questioning the Primacy of Shareholders
The NY Times published a nice little contrarian piece discussing the perceived negative effects of putting shareholders first. http://dealbook.nytimes.com/2012/06/27/challenging-the-long-held-belief-in-shareholder-value/
New Book, Comparative Corporate Governance; “Who Rules the World, and How?”
In a new book, Columbia Professor Bruce Kogut discusses how network science reveals the small worlds and clubs behind the exercise of corporate governance. The research does not seem to cover Japan, but seems very pertinent for considering the evolution of governance here.
(Interview with Professor Rogut, taken from http://www4.gsb.columbia.edu/ideasatwork/feature/7228753 )
Corporate Law and the Team Production Problem
The following entry appeared as part of Harvard Law SchoolForum on Corporate Governance and Financial Regulation
Would UK-Style “Red-Top” Corporate Governance Alerts” Work in Japan?
“Red-Top”Corporate Governance Alerts for Japan? (Thoughts After the “Director Boot Camp)
Codes of Corporate Governance: A Review (presented at Yale Governance Forum; good guidance for Japan?)
By Nolan Haskovec June 2012