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Institutional Investor (October 5)

2017/ 10/ 08 by jd in Global News

In a recent survey “of 101 investors managing more than $1 trillion combined, 87 percent said they would support the activist campaign of a well-regarded investor if they believed change was necessary at the company in question…. Many of the investors view themselves as change makers, with roughly half saying their firms can meaningfully influence a company’s corporate governance.”

 

Bloomberg (July 3)

2017/ 07/ 04 by jd in Global News

“Strenuous efforts by Chinese regulators to ensure market stability are having the opposite effect.” The rationale is unimportant. “Whether such efforts are meant to protect important companies, stabilize markets or avoid national embarrassment, they’re preventing China’s markets from growing up. And it’s increasingly clear that they’re unnecessary.” Furthermore, “infantilizing Chinese firms…prevents the professionalization of management and improvements in corporate governance.”

 

Financial Times (June 20)

2017/ 07/ 01 by jd in Global News

“Six months into its financial crisis, Toshiba is shaping up as the Sistine Chapel of corporate catastrophes: you have to lie on your back to appreciate its scale, and once you get your eye in, the beauty is mesmerising.” Toshiba’s sweeping catastrophe “encapsulates much that investors — both foreign and domestic — have long despaired.” And “for a Japanese government apparently committed to reversing decades of shoddy corporate governance… Toshiba provides the perfect example of why it is pushing for change.”

 

Financial Times (April 10)

2017/ 04/ 12 by jd in Global News

“Japan’s progress on stewardship and corporate governance reform has looked wobbly of late. The ROE gains made in the first 30 months of Abenomics (up from an average of 5.8 per cent in December 2012 to a mid-2015 peak of 8.8 per cent) have been in steady reversal since then.”

 

The Week (April 2)

2017/ 04/ 03 by jd in Global News

By any measure, Uber has been having a terrible year. Some have posited it could threaten the tech bubble. “Uber is by far the most valuable of the 187 ‘unicorn’ startups valued at $1 billion or more, despite losing at least $1.2 billion in the first half of 2016.” But Uber is unlikely to spark a chain reaction. “The tech industry’s funding sources are more diversified than they were in the original dot-com bubble, and the definition of what makes a ‘technology company’ is also much broader. Odds are, investors will see Uber’s flaws as an isolated case of bad corporate governance, not evidence that they shouldn’t be investing in startups.”

 

Institutional Investor (December 29)

2016/ 12/ 30 by jd in Global News

“Disruption in the asset management industry is imminent…. Due to a combination of new technologies, shifting demographics and changing client demands, the asset manager of the future must self-regulate, adopt corporate governance by investment firms, invest in technology, and cultivate and keep top-notch talent.”

 

Reuters (August 18)

2016/ 08/ 21 by jd in Global News

“Short-sellers who made their names and fortunes wiping billions off Chinese and Southeast Asian companies are setting their sights on Japan after a series of accounting scandals amplified concerns about weak corporate governance there. Until recently, corporate managers in Japan have enjoyed relatively limited scrutiny of their governance standards and accounting rigor.”

 

Wall Street Journal (July 11)

2016/ 07/ 13 by jd in Global News

Spurred by Japan’s corporate governance reforms, Nintendo finally relented and committed to broadening its reach to mobile devices. Pokémon Go, one result of this decision, has boosted “the struggling Japanese firm’s market value by $7.5 billion—a turn of corporate fortune with lessons for Japan Inc. …. The fitness-conscious should like a video game that requires players to be active, and Nintendo’s long-suffering shareholders are glad that one of their products is breaking the internet. Here’s hoping other notoriously risk-averse Japanese corporations take the hint.”

 

The Economist (February 13)

2016/ 02/ 15 by jd in Global News

Japan’s corporate-governance code emphasizes “shareholder rights and the duty of outside board directors to promote them.” This means Sharp’s external directors will fear “being sued by shareholders if they opted for the INCJ’s much lower bid,” perhaps more than they fear pressure from METI and others to favor the Japanese bid. A deal with “Foxconn would show that Japan is changing its attitude to outsiders. One reason it may come off is that as a failing firm, Sharp matters less for national pride. A foreign takeover of a more successful firm would be different.”

 

Bloomberg (July 21)

2015/ 07/ 22 by jd in Global News

“Japan’s corporate-governance code, introduced only a month ago, raised hopes that the country’s ossified corporate culture might finally crack open. The $1.2 billion accounting scandal at Toshiba…underscores how much further the country has to go.”

 

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