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Scooped by
Institut sur la gouvernance (IGOPP)
December 13, 2019 9:59 AM
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Opinion: What’s needed is more transparency, enhanced constraints and greater self-discipline by institutional investors
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Scooped by
Institut sur la gouvernance (IGOPP)
November 13, 2019 9:09 AM
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“He’s done a great job,” Michel Nadeau, the executive director of the Institute for Governance of Private and Public Organizations, said in a telephone interview. “I was one of the skeptics when he was named, but he proved me wrong. He will go down as one of the best CEOs in Caisse history.”
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Institut sur la gouvernance (IGOPP)
November 7, 2019 10:00 AM
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One study by the Institute for Governance of Private and Public Organizations (IGOPP), for example, found that after activists held the shares of the companies involved in M&A for a median period of 423 days, funding for R&D was cut by more than half.
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Institut sur la gouvernance (IGOPP)
October 3, 2019 10:02 AM
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“Publishing this data reflects our commitment to ensuring investors have information to help them make informed decisions,” said Louis Morisset, chair of the CSA and president and CEO of the Autorite des marches financiers, in a statement.
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Institut sur la gouvernance (IGOPP)
September 23, 2019 8:19 AM
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It may be, as Yvan Allaire argues elsewhere on this page, that the corporate governance revolution has little significance and that the new paradigm is benign.
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Scooped by
Institut sur la gouvernance (IGOPP)
August 13, 2019 11:30 AM
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Mergers and acquisitions are well-choreographed operations. Both companies call on financial and legal advisers. The board of the target company sets up an independent committee, which promptly retains its own independent legal and financial advisers. Financial advisers produce an opinion letter assuring all and sundry that the price offered is a fair one for the target company’s
shareholders. Both boards approve the transaction, which is then submitted to a vote of the target company’s shareholders. Pour lire la version intégrale de l'article de M. Allaire, veuillez cliquer ici.
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Scooped by
Institut sur la gouvernance (IGOPP)
August 1, 2019 10:55 AM
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Institutional investors are howling for US public companies to focus more on the long-term.[1] This is unsurprising. Long-term focused companies produce significantly better results over time, reporting far greater revenue growth with less volatility, far higher levels of economic profit, and greater total return to shareholders. [...] If the bulk of the value transferred comes from the payment of a takeover premium (as Professors Coffee and Palia and Professor Allaire think likely)[19], then the argument could be made that the additional value comes from the third party buyer of the shares – a gift from heaven.
But Michel Nadeau, executive director of the Institute for Governance of Private and Public Organizations in Montreal, says the Prime Minister is unlikely to risk striking a deal unless he wins another mandate. “I think it’s dead,” he told Radio-Canada on Wednesday.
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Scooped by
Institut sur la gouvernance (IGOPP)
April 29, 2019 10:23 AM
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For many family businesses, control of long-term direction and management of the family corporation are key issues, particularly during times of growth or periods of succession. The Institute for Governance of Private and Public Organizations (“IGOPP”) recently published a new policy paper that should be of interest to family businesses and their advisors in planning the capital structure for their enterprises: The Case for Dual-Class of Shares, Policy Paper No. 11 (2019).
ome of the companies on that list are almost certainly on Quebec’s current list of strategic firms, including grocer Metro Inc., aerospace training firm CAE Inc. and engineering company WSP Global Inc., said Yvan Allaire, executive chairman of the institute.
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Institut sur la gouvernance (IGOPP)
March 11, 2019 10:11 AM
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Je vous recommande la lecture de cet article d’Yvan Allaire, président exécutif du conseil d’administration de l’IGOPP, paru dans le Financial Post le 6 mars 2019.
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Institut sur la gouvernance (IGOPP)
February 15, 2019 10:05 AM
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"The reputation of SNC-Lavalin is much weaker today than it was 10 years ago because of the poor policies of its board [of directors]," said Michel Nadeau, head of the Institute of Governance
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Institut sur la gouvernance (IGOPP)
February 11, 2019 11:17 AM
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Dual-class share structures have drawn the ire of some investors, citing concerns with shareholder rights. For more on this and why he thinks there's a place for dual-class shares, BNN Bloomberg spoke with Yvan Allaire, executive chair at the Institute for Governance of Private and Public Organizations.
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Institut sur la gouvernance (IGOPP)
November 13, 2019 9:13 AM
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he government is always in a hurry to name people. They undoubtedly have a candidate in mind,” said Michel Nadeau of Montreal’s Institute for Governance of Private and Public Organizations
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Institut sur la gouvernance (IGOPP)
November 7, 2019 10:05 AM
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Even some activist funds that hold assets for shorter periods may end up altering investment behavior to lock in tax benefits, said Yvan Allaire, one of the article’s authors and executive chair of the Board of Directors for the Institute for Governance of Private and Public Organizations.
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Institut sur la gouvernance (IGOPP)
October 25, 2019 10:05 AM
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The primary advocacy group for Canadian investors is facing extinction after it has returned a $2-million grant, unable to raise matching funds.
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Institut sur la gouvernance (IGOPP)
September 26, 2019 10:29 AM
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he Royal Society of Canada has awarded the Yvan Allaire medal to Professor Anita Anand and Réal Labelle respectively Professor of Law and J.R. Kimber Chair in Investor Protection and Corporate Governance at the University of Toronto and Emeritus Professor at HEC Montreal.
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Institut sur la gouvernance (IGOPP)
August 26, 2019 8:52 AM
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"If you are interested in travelling to Rome, London or Paris, the price is going up, because Air Canada and Transat really control this market," said Michel Nadeau, executive director at the Institute for Governance of Private and Public Organizations.
In March 2014, CEOs of many Fortune 500 corporations received a letter that started with these words: “We are preoccupied... that too many companies have cut capital expenditure and even increased debt to boost dividends and increase share buybacks. We certainly believe that returning cash to shareholders should be part of a balanced capital strategy; however, when done for the wrong reasons and at the expense of capital investment, it can jeopardize a company’s ability to generate sustainable long-term returns.
If there’s one thing we can learn from Boeing’s 737 MAX crisis, it’s that safety is not a given. The revamped jetliner crashed twice in five months, killing 346 people and raising the possibility of board culpability. Following the second crash, shareholders and families of the crash victims demanded answers from the board. What did it know about the aircraft’s safety and could it have done more to avoid these tragedies? As the board floundered in response, its safety governance (or lack thereof) came under scrutiny.
Yvan Allaire, executive chairman of the Institute for Governance of Private and Public Organizations, told The Globe he believes a large number of subordinate voting shares will be cast in favour of the Médac proposal.
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Scooped by
Institut sur la gouvernance (IGOPP)
April 29, 2019 10:14 AM
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For many family businesses, control of long-term direction and management of the family corporation are key issues, particularly during times of growth or periods of succession. The Institute for Governance of Private and Public Organizations (“IGOPP”) recently published a new policy paper that should be of interest to family businesses and their advisors in planning the capital structure for their enterprises: The Case for Dual-Class of Shares, Policy Paper No. 11 (2019).
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Institut sur la gouvernance (IGOPP)
March 21, 2019 10:03 AM
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Excerpted and translated from “Le fiasco SNC-Lavalin: crime, culture, governance?” by Yvan Allaire, executive chairman of the Institute for Governance of Private and Public Organizations, published in Policy Options March 18, 2019.
A dual class of shares provides some protection from unwanted takeovers and from the bullying that has become a feature of current markets
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Institut sur la gouvernance (IGOPP)
February 15, 2019 10:03 AM
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“When you double your profits, shareholders, directors – they will never ask, ‘Why are you doubling the profits? What is the secret?’” said Nadeau, now executive manager with the Institute for Governance of Private and Public Organizations in Montreal.
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