Institutional Investor Monitoring and the Structure of Corporate Boards

2007 ◽  
Author(s):  
Gavin Smith ◽  
Peter L. Swan ◽  
David R. Gallagher
2018 ◽  
pp. 142-155 ◽  
Author(s):  
T. A. Garanina ◽  
A. A. Muravyev

This article studies the gender composition of corporate boards of Russian companies, including its relation to company performance. The analysis is based on a unique longitudinal dataset of virtually all Russian companies whose shares were traded on the stock market in 1998-2014. It shows a relatively small representation of women, just 12% of all the seats, while about 40% of the companies did not have any female director. At the same time, both the share of companies that appoint female directors and the share of female directors on boards show a clear upward trend. The econometric analysis suggests a positive link between the presence of female directors on boards and company performance, especially when firms appoint several, rather than one, female directors.


Author(s):  
Sabrina Bruno

Climate change is a financial factor that carries with it risks and opportunities for companies. To support boards of directors of companies belonging to all jurisdictions, the World Economic Forum issued in January 2019 eight Principlescontaining both theoretical and practical provisions on: climate accountability, competence, governance, management, disclosure and dialogue. The paper analyses each Principle to understand scope and managerial consequences for boards and to evaluate whether the legal distinctions, among the various jurisdictions, may undermine the application of the Principles or, by contrast, despite the differences the Principles may be a useful and effective guidance to drive boards' of directors' conduct around the world in handling climate change challenges. Five jurisdictions are taken into consideration for this comparative analysis: Europe (and UK), US, Australia, South Africa and Canada. The conclusion is that the WEF Principles, as soft law, is the best possible instrument to address boards of directors of worldwide companies, harmonise their conduct and effectively help facing such global emergency.


2000 ◽  
Vol 12 (3) ◽  
Author(s):  
Boris Kasolowsky

Durch das Stimmrecht in der Hauptversammlung üben die Aktionäre ihr Recht aus, über die Geschicke der Gesellschaft mitzuentscheiden. Das englische Gesellschaftsrecht gibt nun einem anderen Organ der Gesellschaft, dem Board of Directors, die Befugnis, das Stimmrecht der Aktionäre und dessen Ausübung zu modifizieren. Gesetz, Richtenecht, Anordnungen der Regulierungsbehörden und Verlautbarungen von Organen der Selbstregulierung versuchen, diese Befugnis der Directors zu beschränken. Derartige Beschränkungen sollen in diesem Aufsatz dargestellt und kommentiert werden. Dabei wird aufgezeigt, daß die „Institutional Investor Guidelines", veifaßt und veröffentlicht von Organisationen der Privatwirtschaft, sachgerecht und effizient unerwünschte Manipulationen der Aktionärsstimmrechte durch die Directors verhindern können, und zwar auch im Vergleich zur staatlichen Regulierung durch Rechtsregeln und Verwaltungsanordnungen. Diese in England gewonnene Erfahrung könnte nützlich sein bei der Implementierung des Zusammenschlusses der Londoner und der Frankfurter Börse.


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