FP Article Considers Unintended Consequences Of Corporate Reforms

[b]uilding layers of governance mechanisms in the hope of channelling behaviour often serves to frustrate meaningful stewardship on the part of corporate directors and management. Regulation of compensation, independence or other structural requirements will never be the answer, in isolation.
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Perhaps we must look deeper into the DNA of the corporate model to understand and affirm its role in creating long-term value for individuals, firms, shareholders and communities. For example, we need to understand better the role of culture, character and reputation — on management, on the board, on the institutional