Wall Street Journal (May 4)
“Companies will need to jump through more hoops to buy back their stock.” A new rule adopted by the SEC will require “more disclosure from public companies about share repurchases starting in the fourth quarter,” including daily data on buybacks, whether directors or officers sold shares within four days of a buyback, and the rationale for the buyback. The SEC believes this will “make it easier for analysts to compare the timing of buybacks and insider trades, or to identify buybacks designed to boost executive compensation or earnings per share.”
Tags: Analysts, Buybacks, Directors, Disclosure, EPS, Executive compensation, Hoops, Insider trades, Officers, Public companies, Q4, Rationale, SEC, Share repurchases, Stock, Timing
The Street (December 1)
To promote diversity and better governance, Nasdaq has proposed new rules that “would require companies to appoint at least two diverse directors on their boards or explain their rationale for not meeting that objective.” Before submitting its proposal to the SEC, Nasdaq analyzed over “two dozen studies that found an association between diverse boards and better financial performance and corporate governance.”
Tags: Boards, Directors, Diversity, Explain, Governance, Nasdaq, Performance, Rationale, Rules, SEC
Bloomberg (July 3)
“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.”
Tags: China, Corporate governance, Embarrassment, Infantilizing, Management, Market stability, Professionalization, Rationale, Regulators
Financial Times (April 9)
Japan’s corporate culture “had a certain rationale in the catch-up era” of the 1960s and 1970s. Today, however, “it makes no sense at all.” Today, Japan needs “a multidisciplinary workforce capable of switching mid-career, not only between different companies but also between entirely different fields. It needs to bring more women into the workforce, not to make up the numbers but to usher in new thinking.”
Tags: Corporate culture, Japan, Mid-career, Multidisciplinary, New thinking, Rationale, Women, Workforce
