Corporate Governance
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Corporate governance can't flourish when nation's systems of governance falters - Economic Times

Corporate governance can't flourish when nation's systems of governance falters - Economic Times | Corporate Governance | Scoop.it

Economic TimesCorporate governance can't flourish when nation's systems of governance faltersEconomic TimesOne of the key issues that affect the conduct of business in India and its related governance is the dominance of the owner, who uses his...


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Corporate Governance
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PwC's 2013 Annual Corporate Directors Survey

PwC's 2013 Annual Corporate Directors Survey | Corporate Governance | Scoop.it

Changes to corporate governance requirements and strategies are coming from higher stakeholder engagement, an increased risk environment, and regulatory requirements: What do the board of directors from leading companies think? n the summer of 2013, 934 public company directors responded to our 2013 Annual Corporate Directors Survey. The focus of this year’s research not only reflects in-depth analysis of con­temporary governance trends, but also emphasizes how boards are reacting to a rapidly evolving landscape.


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Bonnie Hohhof's curator insight, September 12, 2013 12:32 PM

PaC reports always interesting

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2014 Succession Planning and Talent Development Survey Results

2014 Succession Planning and Talent Development Survey Results | Corporate Governance | Scoop.it

Rumors and speculation abound when it comes to discussions about CEO succession at high-profile companies such as Ford, Proctor & Gamble, and Cisco Systems. “That’s because succession planning processes are not transparent and may be less systematic than you would expect,” says Stanford Graduate School of Business faculty member David Larcker, who codirected this new study about CEO succession by The Rock Center for Corporate Governance at Stanford University and The Institute of Executive Development (IED).

 

The study is based on in-depth interviews with executives and directors at 20 companies regarding their succession and executive development practices. The researchers found that only 46% of respondents have a formal process for developing successor candidates for key executive positions. What’s more, only 25% of respondents agreed that there was an adequate pool of ready successor candidates for the CEO position at their companies.


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How to Run a Family Business Without Killing Each Other

How to Run a Family Business Without Killing Each Other | Corporate Governance | Scoop.it

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Great article

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Daniel Watson's curator insight, April 21, 2014 6:24 PM


Family businesses play a big part in the economies of most countries, but going into business with family members, comes with a high degree of risk to family cohesion.


Businesses that employ many family members, need to recognise that certain formalities need to be observed, if they want to avoid continual in-fighting and the creation of long term family animosities.


This excellent article, suggests that running a business with family requires discipline, planning and recognition that family relationships are fragile and come ahead of everything else, and it offers five tips to help prevent family businesses from imploding.

BSN's curator insight, April 22, 2014 9:35 AM

How to Run a Family Business Without Killing Each Other #business #tips

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Rescooped by Estelle Metayer from Governance, Business ethics and Sustainability
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What Are Shareholders Thinking About Today ?

What Are Shareholders Thinking About Today ? | Corporate Governance | Scoop.it
Both the C-suite and corporate secretaries want to know: What questions will shareholders be asking this year?

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To Understand HR Standards, Look to GAAP and FASB

To Understand HR Standards, Look to GAAP and FASB | Corporate Governance | Scoop.it

It is vital that the distinction between practice and decision standards be as clear in the world of human capital as it is in the world of finance and accounting.

 

Like GAAP standards, emerging HR standards should describe typical practices or measurements that are “feasible at scale” for most organizations. As more organizations adopt them, we will see more common approaches to measuring things like employee turnover and cost-per-hire, and the resulting data will be more easily compared and analyzed. As research uncovers links with organizational performance, we may in the future see a better case for a set of decision standards that can justifiably be connected to organizational performance. Practice standards are a prerequisite to decision standards in HR, just as they were in finance and accounting.


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La confidentialité des données des conseils d’administration est-elle menacée ? | Le Cercle Les Echos

La confidentialité des données des conseils d’administration est-elle menacée ? | Le Cercle Les Echos | Corporate Governance | Scoop.it

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Guerillas in the Boardroom

Guerillas in the Boardroom | Corporate Governance | Scoop.it

It didn’t garner much attention, but earlier this month, the chairman of a Fortune 500 company was kicked out of his job, and it wasn’t by management. Shareholders voted out Ray Irani, the chairman and former CEO of Occidental Petroleum, at the company’s annual meeting, with 76 percent of investors denying Irani the post. Irani had planned to retire in 2014, but criticism of his outsized compensation package—he averaged over $80 million in annual salary over the past decade—and questions about his using the board to attempt to replace his successor, CEO Stephen Chazen, led to an early demise.


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Vicki Kossoff @ The Learning Factor's curator insight, May 14, 2013 6:24 PM

Shareholder activists are getting smarter—and could soon claim their biggest scalp.

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Deloitte | Corporate Governance in the not for profit sector

Deloitte | Corporate Governance in the not for profit sector | Corporate Governance | Scoop.it
Have you considered how the new code may impact you?

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Royalty Payments and Corporate Governance - Indian Corporate Law

In the past, the corporate governance discourse pertaining to Indian companies has revolved substantially around family owned businesses and government-owned (public sector) companies. Another type of companies that ...

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7 Rules for Corporate Governance Success in the Social Age

In addition to all their existing roles, boards now have the added responsibility of shepherding their leaders and organizations into today’s digital world.

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Don Dea's curator insight, January 24, 2013 12:52 AM

Boards need to think anew about their role in the social and mobile world. For corporate directors, there is no time to waste.  Directors must join the social and mobile ranks. New board members must be recruited, and new business models must be fashioned based on these technology realities.  Social enterprises are here to stay and they are faster, better, and more competitive than traditional businesses.

Emeric Nectoux's curator insight, January 5, 2014 10:59 PM

Social Technologies change Performance, partners' Engagement and Investors relationship. 


Questions to Ask
Corporate directors who are in the process of reviewing their company’s business plan with their management teams should take a moment and ask the following questions of themselves and their leaders:

  • Social Technology:  How do we view social, mobile and cloud technologies?  Do we see them as simply Facebook, Twitter, and LinkedIn, or do these technologies play an integral role in every aspect of our business?
  • Business Performance:  Are we viewing our next year’s business plan and financial forecasts through the lens of last year’s finances or, more importantly, in the context of todays research by companies like Cap Gemini, Deloitte, and McKinsey?
  • Technology Skills:  Do we have the right board members with the right skills including social, mobile, and cloud experience, to insure our company’s future? In addition, does our management team members have the skills they need to insure success?
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Compétitivité : les conseils d'administration en France sont encore peu équipés pour faire face au changement

Compétitivité : les conseils d'administration en France sont encore peu équipés pour faire face au changement | Corporate Governance | Scoop.it
ENTREPRISE - Sur presque tous les critères de performance des conseils d'administration, la France progresse et reflète la révolution qui est en train de faire changer la gouvernance des entreprises dans le monde entier.

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Strategic Risk Management: A Primer for Directors — The Harvard Law School Forum on Corporate Governance and Financial Regulation

Strategic Risk Management: A Primer for Directors — The Harvard Law School Forum on Corporate Governance and Financial Regulation | Corporate Governance | Scoop.it

This article focuses on two key aspects of the relationship between risk and strategy: (1) understanding the organization’s strategic risks and the related risk management processes, and (2) understanding how risk is considered and embedded in the organization’s strategy setting and performance measurement processes


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Professors in the Boardroom and their Impact on Corporate Governance and Firm Performance

Professors in the Boardroom and their Impact on Corporate Governance and Firm Performance | Corporate Governance | Scoop.it

Abstract:      
Directors from academia served on the boards of more than one third of S&P 1,500 firms over the 1998-2006 period. This paper investigates the effects of academic directors on corporate governance and firm performance. We find that companies with directors from academia are associated with higher performance. In addition, we find that professors without administrative jobs drive the positive relation between academic directors and firm performance. We also show that professors’ educational backgrounds affect the identified relationship. For example, academic directors with business-related degrees have the most positive impacts on firm performance among all the academic fields considered in our regressions. Furthermore, we show that academic directors play an important governance role through their monitoring and advising functions. Specifically, we find that the presence of academic directors is associated with higher acquisition performance, higher number of patents, higher stock price informativeness, lower discretionary accruals, lower CEO compensation, and higher CEO turnover-performance sensitivity. Overall, our results provide supportive evidence that academic directors are effective monitors and valuable advisors, and that firms benefit from academic directors.

 

The authors: "Our paper is the first to focus entirely on the impact of academic directors on corporate governance and firm performance. Our analysis extends the literature on board characteristics and firm performance. We find that directors from academia are beneficial to shareholders. Our results indicate that both directors' monitoring and advising functions are important for board efficacy and firm performance. Furthermore, our study complements the board-independence literature by showing that independence is not enough to enhance board efficacy. Additional director attributes, such as advising abilities, could be important for making outside directors more beneficial to firm value. Therefore, this paper furthers our understanding on the relation between board independence and firm value. "

 

 

Source:

 

Professors in the Boardroom and their Impact on Corporate Governance and Firm Performance

 


Bill Francis 
Rensselaer Polytechnic Institute (RPI) - Lally School of Management & Technology

Iftekhar Hasan 
Bank of Finland

Qiang Wu 
Rensselaer Polytechnic Institute (RPI) - Lally School of Management and Technology

February 28, 2013

 


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GIBS Information Centre / GIBSIC's curator insight, April 1, 2013 6:15 AM

Abstract:  Directors from academia served on the boards of more than one third of S&P 1,500 firms over the 1998-2006 period. This paper investigates the effects of academic directors on corporate governance and firm performance. We find that companies with directors from academia are associated with higher performance. In addition, we find that professors without administrative jobs drive the positive relation between academic directors and firm performance. We also show that professors’ educational backgrounds affect the identified relationship. For example, academic directors with business-related degrees have the most positive impacts on firm performance among all the academic fields considered in our regressions. Furthermore, we show that academic directors play an important governance role through their monitoring and advising functions."

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10 deliverables you should get from your Competitive Intelligence program

10 deliverables you should get from your Competitive Intelligence program | Corporate Governance | Scoop.it

Competitive Intelligence (CI) should provide management at all levels with early warnings of changes in the competitive landscape, including opportunity signals. It is a crucial part of corporate management in the modern and fast changing economy. By analyzing other actors (customers and competitors as well as regulators) moves, CI allows companies to anticipate market development and act in accordance, before the competition does. Below are 10 deliverables I think a competent CI program should be able to deliver:


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Rescooped by Estelle Metayer from Governance, Business ethics and Sustainability
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EUROPE: Fines for Six members of Auto-Parts Cartel

EUROPE: Fines for Six members of Auto-Parts Cartel | Corporate Governance | Scoop.it
The EU fined six companies $1.32 billion for fixing prices for car and truck ball-bearings as part of a probe into competition breaches in the car-parts sector.

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SINGAPORE: Most firms here won't disclose directors' pay - poll

SINGAPORE: Most firms here won't disclose directors' pay - poll | Corporate Governance | Scoop.it
The top reason for deviating from the Governance Code was confidentiality, followed by poaching.

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What's expected from UK independent directors? 

What's expected from UK independent directors?  | Corporate Governance | Scoop.it
Effective independent non-executive directors are expected to provide high-quality, objective over...

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Three Critical Talent Conversations for Every Board of Directors

Scrutiny over executive compensation and governance is crowding out board focus on critical talent issues that impact corporate performance. As a result, most boards lack a deep understanding of talent issues outside executive leadership (executive compensation, CEO succession, and CEO performance). The best boards seek more understanding of talent issues and higher levels of assurance about critical talent risks.

CEB research finds that boards at top-performing companies are twice as likely to have a deep understanding of talent issues as boards at lower-performing competitors. CEB’s benchmark shows the best boards improve talent assurance in two ways. First, they expand the perimeter of talent issues they monitor beyond executive leadership to include issues that impact other critical talent segments, such as engagement capital, the employee value proposition, and workforce planning. The best boards also reshape and deepen conversations on executive performance evaluation and succession in the following ways:

• CEO and Executive Performance Evaluation—Treat talent measurement like financial measurement: require robust analytics and clear links to business value.
-  Instead of “ready-now” successors, evaluate leadership potential, benchmark with competitors’, and differentiate leaders who are “developable” from those unlikely to change.
-In addition to business performance, reward improvements to engagement capital, particularly future-oriented workforce engagement.
-Instead of tracking compliance violations, hold CEOs accountable for boosting integrity capital by building a culture of integrity.

• CEO Succession Planning—Readiness is a red herring. Don’t try to predict the competencies a leader will need when succession is triggered or assume the competencies are the same as the ones your leaders have now. Increase optionality by asking the CEO to broaden the experience profiles of direct reports and rising leaders.


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Engaging boards on the future of marketing - McKinsey Quarterly

Engaging boards on the future of marketing - McKinsey Quarterly | Corporate Governance | Scoop.it
At many companies, the whole organization is becoming more responsible for customer engagement. A few are extending this thinking to the boardroom. A McKinsey Quarterly Governance article.

 

Excerpt...

 

Three tips for improving engagement

First, much as most boards now include a strategy day in their calendar of meetings, we think it’s worth considering a customer-engagement day to take stock of the broadest strategic implications of changes in the marketing environment and of the company’s position with customers. On such a day, the directors of another Asia-based services company took decisive action to rethink its premium-pricing strategy after coming to grips with big changes under way in the customer base.

 

Second, it’s important to be mindful of the board’s composition, given the fast-changing nature of marketing. For example, including more board members with public-sector experience—including political-campaign skills—can provide valuable counsel to today’s ever-more-exposed CEOs.

 

Third, it’s important to keep board involvement strategic in nature and clearly aimed at governance issues and not the day-to-day management of marketing activities. To be sure, it can be valuable for board members with specialized expertise to provide it fairly regularly; we know of one company that’s asked an innovation guru on the board to work closely, between meetings, with the head of R&D. Yet any such involvement must ultimately connect back to the board; otherwise, there’s a risk of creating a cadre of shadow managers. In this case, the R&D director and board member jointly update the board on innovation efforts to ensure that it remains plugged in.


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iNeoMarketing's curator insight, February 28, 2013 8:45 AM

Why this is important: As we have seen over and over, spending for Marketing Technology will exceed IT by 2015 (Gartner). Your board (should you have one) will expect to understand why. As a marketer, you may want to start formulating your plan on how to bring the board along a particular path so that they fully support the investments in marketing technology.


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Gouvernance : l'AMF distribue bons et mauvais points

Gouvernance : l'AMF distribue bons et mauvais points | Corporate Governance | Scoop.it
Pour la première fois, le gendarme de la Bourse a relevé les bonnes, et surtout les mauvaises pratiques en matière de...
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The Other Duty of Corporate Governance - Forbes

The Other Duty of Corporate Governance - Forbes | Corporate Governance | Scoop.it
The Other Duty of Corporate Governance Forbes According to BusinessDictionary.com, corporate governance is “The Framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's...

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Can you reboot corporate governance with technology? | SmartBlogs

Can you reboot corporate governance with technology? | SmartBlogs | Corporate Governance | Scoop.it
It’s time to transform corporate governance. Innovation and technology can simplify and improve board development and management.

 

Virtually every aspect of corporate America has been affected by the adoption of new technology. Social networks and collaboration technologies are revolutionizing and changing the way companies are run, products are made, information is shared and the way employees are recruited.


There is one aspect of nonprofit, private and public companies, however, that has made little or no progress when it comes to innovation — the way corporate boards are recruited and managed.


Corporate America is fully aware that this process is flawed. Most recently, headlines from scandals that have occurred at Best Buy, Chesapeake Energy, Groupon, Wal-Mart and Yahoo have put the spotlight on corporate governance. Besides a general disdain for illegal and deplorable actions, corporate boards have suddenly felt the pressure to fortify their teams with the same virtues they always strived for, with an increased emphasis on personal and professional integrity....

 

[Maybe a helpful tool, but let's not overstate things ~ Jeff]


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Corporate Governance Codes and Principles in Finland

Corporate Governance Codes and Principles in Finland | Corporate Governance | Scoop.it

The European Corporate Governance Institute is a pan-European not-for-profit organisation established to improve corporate governance through fostering independent scientific research and related activities.


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Corporate governance can't flourish when nation's systems of governance falters - Economic Times

Corporate governance can't flourish when nation's systems of governance falters - Economic Times | Corporate Governance | Scoop.it

Economic TimesCorporate governance can't flourish when nation's systems of governance faltersEconomic TimesOne of the key issues that affect the conduct of business in India and its related governance is the dominance of the owner, who uses his...


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