Monday, January 1, 1990
Do Today's Powerful Institutional Investors Belong in the Board Room? [PDF]
Bob Monks discusses the role of managment and shareholders in corporations:
"Why can't U.S. corporate managment do the job alone? Because American chief cxecutives are increasingly accountable only to themselves. Contrary to the conventional wisdom that shareholders have ultimate authority, CEOs frequently get involved in choosing (or approving the selection of) hoard memhers, who then control the proxy process and involvement hy owners. In the end, there is no effective accountability to anyone -- a status to be envied by sovereigns." 1990
January 1, 1990 in ownership , shareholder activism , corporate governance , shareholder rights , responsible ownership | 0 comments |
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