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Full-Text Articles in Business
How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon
How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon
Steven Davidoff Solomon
This Article presents a case study of a corporate governance innovation—the incentive compensation arrangement for activist-nominated director candidates colloquially known as the “golden leash.” Golden leash compensation arrangements are a potentially valuable tool for activist shareholders in election contests. In response to their use, several issuers adopted bylaw provisions banning incentive compensation arrangements. Investors, in turn, viewed director adoption of golden leash bylaws as problematic and successfully pressured issuers to repeal them. The study demonstrates how corporate governance provisions are developed and deployed, the sequential response of issuers and investors, and the central role played by governance intermediaries—activist investors, institutional …
From Governance To Political Economy: Insights From A Study Of Relations Between Corporations And Workers, Harry W. Arthurs, Claire Mumme
From Governance To Political Economy: Insights From A Study Of Relations Between Corporations And Workers, Harry W. Arthurs, Claire Mumme
Harry Arthurs
This study explores four postwar attempts to re-imagine the role of workers within the corporation and especially their relation to the processes of corporate governance. Employees have been variously conceptualized as "citizens at work," whose rights of association, speech, assembly, and due process can be secured through collective bargaining; as "stakeholders," whose interests are entitled to consideration analogous to those of corporate shareholders; as "human capital," worth preserving and enhancing through enlightened employment policies and practices; and as "investors"-actual holders of corporate equity through pension funds and other vehicles. Despite the descriptive power and normative appeal of these approaches, each …
Profiling Non-Executive Directors In Australia, C. L. Cortese, G. Bowrey
Profiling Non-Executive Directors In Australia, C. L. Cortese, G. Bowrey
Graham Bowrey
This paper presents a profile of non-executive directors of Australia’s largest public companies. Using descriptive data, it assesses the extent to which these companies adhere to the requirements set down in the Australian Stock Exchange’s Principles of Good Corporate Governance. In relation to these profiles, the generic roles of non-executive directors are discussed and evaluated in terms of their actual and perceived independence from management. The paper concludes with an examination of the need for independence and questions whether competence, among other characteristics, is a more valuable characteristic of a non-executive director than independence.
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
Paolo Santella
No abstract provided.
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
Carlo Drago
No abstract provided.
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
Paolo Santella
No abstract provided.
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca
Carlo Drago
No abstract provided.