For most of the twentieth century the conventional wisdom held — probably correctly — that shareholders in America's large corporations were passive and powerless and that real power in a public corporation was wielded by its managers. Beginning in the 1980s, however, shareholders in the...

The stakeholder vision has emerged as an influential stream in corporate governance. In the English-speaking world, Canada was the pioneer in introducing a regulatory stakeholder regime. This article examines the Canada Business Corporations Act (CBCA) for its concern for non-shareholder groups,...

The newly enacted federal Say on Pay rule will require public firms to periodically provide shareholders with an opportunity to cast an advisory vote regarding its most recent year's executive compensation. Like other efforts to increase shareholder power, Say on Pay has attracted criticism from...

We investigate the roles of legal origins and political institutions – believed to be the fundamental determinants of economic outcomes – in corporate social responsibility (CSR). We argue that CSR is an essential path to economic sustainability, and document strong correlations between...

We investigate the roles of legal origins and political institutions – believed to be the fundamental determinants of economic outcomes – in corporate social responsibility (CSR). We argue that CSR is an essential path to economic sustainability, and document strong correlations between...

There has been a rapid increase in shareholder requests for special meetings with the board. This report discusses the potential benefits and complexities of the board-shareholder engagement process, reviews global trends in engagement practices, provides insights into engagement activities at...

Hong Kong is a unique cosmopolitan business hub driven by pragmatism with a Chinese flair, in which, for many Chinese enterprises, corporate law and governance were introduced as alien concepts. As in many other countries, Hong Kong is obligated by international markets to embrace these...

In 1999, the Daewoo Group, one of the largest conglomerates in the world, collapsed, committing a staggering $15.3 billion in accounting fraud in the process. Daewoo's problems, however, did not remain a case isolated to a Korean chaebol. Daewoo's demise foreshadowed the corporate scandals that...

The emergence of institutional investors as shareholders has challenged, and rendered outmoded, many of the traditional assumptions about shareholders and their engagement with the corporation. There has been considerable interest in, and reassessment of, the position of institutional investors...