Ralph De Haas, Daniel Ferreira, Tom Kirchmaier, 24 December 2017

How boards perform their dual role of supervisor and advisor of corporate management is difficult to observe from outside of the company. This column presents a survey of non-executive directors in various emerging markets which reveals substantial variation in the structure and conduct of boards as well as in directors’ perceptions about the local legal environment. Directors who feel adequately empowered by local legislation appear less likely to vote against board proposals, and also form boards that play a stronger role in the company’s strategic decision making. 

Louis Nguyen, Jens Hagendorff, Arman Eshraghi, 30 September 2016

Banks are regularly under scrutiny for their professional and ethical behaviour. This column assesses the role of boards in monitoring and advising conduct, and offers new insights for how to structure bank boards to prevent misconduct. Conventional board measures such as board independence and financial expertise have no measurable impact on misconduct being committed or detected. Instead, governance metrics revolving around CEO connections warrant more attention from regulators, investors, and governance activists.

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