讲座董事会治理生命周期重组核心机制之一大四下复习notes l4.pdfVIP

Lecture4:Boards,theGovernanceLife-cycleandRestructuring

Boardsofdirectorsrepresentoneofthe(1)centralmechanismsforthegovernanceoffirms,

yetthereisconsiderable(2)debateabouttheircompositionand(3)effectiveness.Thislecture

analysestheseissues.

keyreading:compensationandperformance.ezz!!!!!!!!!

withrestructuringandgovernance

boardcompensation–performance(keyreading)/restructuring(Jenson)/governance

Jenson:roleofboardinrestructuring

1.Criticallyconsidertheeffectivenessofcorporateboardsasacentralcorporategovernance

mechanism?(07-08)

2.Thenatureoftheboardofdirectorsaffectscorporategovernanceandperformance.Discuss.

(0708)

3.Whyaret(non-executive)membersoftheboardofdirectorsconsideredasa

keycomponentofeffectivecorporategovernance,andhoweffectivehavetheybeenin

practice?(0910)

4.Towhatextentshouldtheanxietiesassociatedwiththegovernanceofpubliccorporations

beattributedtotheshortcomingsoftheboardasamonitoringinstitution?(sample)

Outline

(1)Boardascentralmechanismforthegovernanceoffirms

-Roleofboard

-Thenatureofboard

-NatureofboardandrelationshipwithCRG

(2)Debateaboutthecompositionofboard

-Non-ExecutiveDirectorsvs.InsideDirectors

-Boardce

-BoardCompositionandPerformance

-InstitutionalShareholdersandBoardComposition

(3)Debateabouttheeffectivenessofboard

-BoardCompositionandPerformance

-Boardsizeandperformance

(4)GovernanceLifeCycle

(5)FRINGE:CEO–boardrelationshipandboardinterlock