The level of shareholders' expertise and experience needs to be questioned as they wield greater clout and become more deeply involved in strategic issues that should be the board's purview. This misdirected involvement distracts shareholders from their principal and most important role:...

The foundation of good corporate governance is the intellectual honesty of directors and senior management. This intellectual honesty is expressed by acting in the best interests of the incapacitated company. The company, on formation, is a person, but it is absolutely incapacitated until its...

The credit crisis has caused a cataclysm in corporate governance circles. Distinguished professors, leaders of industry, regulators, legislators and blue ribbon panels around the world are examining everything from bank regulation to how individuals relate to society. There are more "big ideas"...

Delhi Jal Board (DJB) is exploring options for public private partnerships (PPP) in the wastewater services as part of a strategy to expand sewerage access and to meet its environmental obligations. The purpose of this report is to identify those models of partnership which are most relevant to...

"The authors compare the two merger control systems currently employed worldwide: a mandatory system based on merger size threshold and a voluntary system with ex-post monitoring and fines. The voluntary system possesses two informational advantages: (i) the enforcement agency employs more...

"The authors jointly analyze the static, selection, and dynamic effects of domestic, foreign, and state ownership on bank performance. They argue that it is important to include indicators of all the relevant governance effects in the same model. "Nonrobustness" checks (which purposely exclude...

"The authors study differences in the use of two corporate governance provisions - cumulative voting and proxy by mail voting - in a sample of 224 firms located in four Eastern European countries. The report finds a significant relationship between ownership structure, and the use of corporate...