DOCSLIB.ORG

The Conference Board

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Conference Board THE BUSINESS KNOWLEDGE NETWORK THE CONFERENCE BOARD newsletter F a l l 2 0 01 Fidelity’s Pozen Examines Tony Blair Briefs Conference Board Threats to Economic Growth Members in London British Prime Minister Tony Blair briefed Conference Board Trustees, and chairmen and chief executives of FT 500 companies, at a special Conference Board meeting in obert Pozen is Vice Chairman of Fidelity London. The Prime Minister was welcomed Investments. Formerly president of by Lord Marshall of Knightsbridge, Chair- Fidelity Management & Research Com- man of British Airways Plc and Chairman of pany—Fidelity’s investment advisor for its The Conference Board’s Board of Trustees. nearly $1 trillion in mutual funds—Mr. Lord Marshall organized a series of events Pozen is a member of the President’s for the gathering, which included Conference RCommission to Strengthen Social Secu- Board Trustees and CEOs of U.K. member rity and a Trustee of The Conference companies. The program featured a boat jour- Board. His book, The Mutual Fund Busi- ney up the Thames, culminating at the Tower ness, is widely used in business schools. of London with the “Ceremony of the Keys” and a private viewing of the Crown Jewels. In this interview (conducted prior to the Robert Pozen events of September 11, 2001), Pozen con- siders current threats—and positive impulses—to business growth. In this envi- ronment, says Pozen—who also offers a look Growing Clout for ahead for mutual funds—The Conference Board is a vital resource for business lead- Global Investors ers around the globe. As corporations around the world become What are the major threats to U.S. business increasingly dependent on equity fueled by growth over the next few years? The U.S. open markets, economic clout is shifting toward economy is going through a reduction in investors who have equity stakes—especially the growth of corporate earnings, espe- those willing to become activists. cially in the telecom and technology sec- A new Conference Board study finds that tors. These sectors experienced a large transnational institutional investors are begin- increase in capital expenditures over the ning to evaluate corporate performance by an last few years, so it may take a while to evolving set of global corporate governance work off this capacity build-up. The other standards. This development is changing how major threat to the U.S. economy comes companies and investors do business with each from U.S. consumers. So far they have other. Moreover, the towering share of U.S. held up pretty well, as reflected in solid corporate investments worldwide raises the housing and auto sales. But consumer expectation that U.S investors will not only attitudes could change if the unemploy- have an important say in the standards them- British Prime MinisterTony Blair with Lord Marshall, ment rate rises sharply. selves, but could also make U.S.-style activism Chairman of British Airways Plc and Chairman of the norm among global investors. The Conference Board’s Board of Trustees. What do you see as positive forces that may Source: The Global Investor and Corporate Governance: What counter those threats? The Federal Reserve Do Institutional Investors Want? Report 1297-01-RR, 2001. L CONTINUED PAGE 2 THE CONFERENCE BOARD The Business Knowledge Network This summer in Hong Kong, a Changing Company special Conference Culture: The Irish Dilemma Board meeting on sustainability drew business leaders When the European Council on Human Resources met in Dublin in June, members examined new paths companies from throughout are taking to change their cultures. John Guinan, Director Asia/Pacific. of Human Resources for Retail Banking and Distribution Shown left to right at the Bank of Ireland (the meeting’s host), said that too are: Lily Yam, much time is devoted to writing the company’s values while Secretary for the the leaders fail to demonstrate those values. “Exceptional CONTINUED FROM PAGE 1 Environment and business performance,” he said, “will be achieved only has dropped interest rates several times this year and through exceptional leadership and people management.” Food, Government continues to let the money supply expand substantially. The keynote speaker, Paul Haran, Secretary General of These typically have been favorable factors for the U.S. of the Hong Kong the Irish Department of Enterprise, Trade, and Environ- economy. As interest rates drop, the United States has Special ment, described the transformation of the Irish economy experienced a wave of mortgage refinancings. These Administrative into today’s successful “Celtic Tiger.” But he warned that are like giving homeowners a monthly tax cut. Finally, Region; Eden Woon, complacency is the greatest danger to continued success. To there are the real cuts in tax rates, which over time Director of the avoid this, he predicted growing investment in education at should help stimulate economic growth. all levels, creating more intellectual capital for the future. Hong Kong General What is The Conference Board’s chief contribution to the Chamber of world business community? The Conference Board is a Commerce; and key source of research and statistics on the U.S. and Marjorie Yang, other world economies. For example, its survey on con- Chairman of the sumer confidence is watched carefully by business and Esquel Group of Nielsen is Board’s government leaders. The Board also provides an impor- Companies. tant forum for in-depth discussion of management New Nordic Director issues through its councils and conferences. These have the special benefit of participation from company man- Niels Erik Nielsen is The Conference Board’s new Direc- agers actively involved in the subject matter. tor of Associate Service for the Nordic Region (includ- ing Denmark, Finland, Iceland, Norway, and Sweden). How important is The Conference Board’s continuing He replaces Jani Törnqvist, who will continue his long effort to globalize its membership and research? Very association with The Conference Board Europe as a pro- important. It is easy to say that businesses should oper- ject director for a number of European Councils. ate globally, but difficult to do well. The Board can help Nielsen, a Dane, began his career with one of the executives learn how to manage better across continents. Board’s longest-standing members, A.P. Møller. He has In addition, the Board is in the process of expanding its also held management positions in Denmark, Singapore, economic indicators to include significant countries out- Taiwan, Ghana, the United Kingdom and the United States side of the United States. This expansion will create a for such major international companies as General valuable resource for global economic projections. Electric and Marsh & McLennan. As the author of the definitive book on mutual funds, what’s ahead for the industry? During the late 1990s, U.S. investors became accustomed to annual returns above 20 percent. The fund industry has to help manage investor expectations to more realistic levels—for example, long- Michael Eskew, term equity returns in the United States are in the range who will become of 11 to 13 percent per year. At the same time, the fund the Chairman and industry has to deal with the aging of the baby boomers, CEO of UPS in who will start to reach 65 in 2011. Up to now, fund com- January 2002, plexes have concentrated on helping investors accumulate addressing The nest eggs for retirement; in the future, they will have to develop programs to help distribute retirement income to Conference Board’s Gail Fosler, Chief Economist of The Conference Board, addressing fund shareholders. Strategic Alliances the Board’s Paris business briefing. meeting. 2 THE CONFERENCE BOARD THE CONFERENCE BOARD The Business Knowledge Network Top Board Economists New Conference Board Chair Meet Chinese Experts at University of Groningen The Conference Board’s top economists and China’s eco- Professor Bart van Ark, Director of International Eco- nomic policymakers met in Beijing to discuss challenges nomic Research at The Conference Board and Professor and opportunities facing the United States and China. in the Economics of Productivity and Technology Policy This “Sino-U.S. Economic Forum” was initiated by the Bart van Ark, at the University of Groningen, keynoted a special meet- Chinese government and co-sponsored by China’s Director of ing this spring at the University of Groningen, The Nether- Academy of Macroeconomic Research, the State Devel- International lands. It marked the debut of The Conference Board Chair opment Planning Commission, and the Center for China Economic in the Economics of Productivity and Technology Policy. and Foreign Group Enterprise Development Studies. In his lecture, van Ark questioned whether Europe is fully Research at The Conference Board Chief Economist Gail Fosler and utilizing new advances in information and communication Director of Economic Research Robert McGuckin Conference Board technologies. He underscored the urgency of investment so explained the need for microdata and economic mea- and Professor in that the old economy can benefit from the new economy. sures to assess ongoing reforms in China. Chinese the Economics of economists provided updates on economic developments Productivity and in China and explored ways in which The Conference Technology Policy Board and China can cooperate in future activities. at the University of Knowledge Management a Groningen. Hot Issue in the U.K. Consignia, formerly the United Kingdom’s Post Office, hosted the second meeting of The Conference Board’s European Council on Knowledge Management, in Rugby, England. A highlight of the meeting was a tour of Consignia’s Innova- tion Laboratory and an introduction to technologies for the Gail Fosler, Senior future. The meeting focused on strategies for winning com- Vice President and mitment of the CEO and top management to knowledge Chief Economist of management strategies, and for measuring and demonstrating The Conference the value of knowledge management projects.
Load more

Recommended publications
  • Job Satisfaction 2017 EDITION CHARTBOOK
    Job Satisfaction 2017 EDITION CHARTBOOK MORE OPPORTUNITY AND JOB SATISFACTION IN A TIGHTER LABOR MARKET Job Satisfaction 2017 Edition Chartbook More Opportunity and Job Satisfaction in a Tighter Labor Market by Michelle Kan; Gad Levanon, PhD; Allen Li; and Rebecca L. Ray, PhD Methodology The Conference Board Job Satisfaction survey is a barometer of satisfaction from the perspective of US workers. Survey results are based on workers’ perceptions of their current role and their workplace environment. The Job Satisfaction survey questions are asked as part of the Consumer Confidence Survey®. In 1967, The Conference Board began the Consumer Confidence Survey (CCS) as a mail survey conducted every two months; in June 1977, the CCS began monthly collection and publication. The CCS has maintained consistent concepts, definitions, questions, and mail survey operations since its inception. As of February 2011, The Conference Board changed survey providers from TNS to The Nielsen Company for ongoing CCS operational support. Nielsen uses a mail survey specifically designed for the Consumer Confidence Survey. In addition, to improve the accuracy of the estimates and ensure the proportionate representation of these categories in the estimates, the CCS uses a post-stratification weighting structure. The Job Satisfaction questions are based on a 5-point scale ranging from “least satisfied” to “most satisfied” and have remained consistent over time. However, with the addition of post-stratification weighting and a qualifying question that was included after 2011, the historical trend of the series may not be fully comparable. Top Four Findings Examining annual job satisfaction continues to provide useful insights into US employees’ sentiments about work and offers interesting insights into the national labor market and macroeconomic trends.
    [Show full text]
  • CED Brochure
    Committee for Economic Development Reasoned Solutions from Business in the Nation’s Interest The Committee for Economic Development of The Conference Board (CED) is a nonprofit, nonpartisan, business-led public policy organization that delivers well-researched analysis and reasoned solutions to our nation’s most critical issues. CED’s work is grounded on seven core principles: sustainable capitalism, long-term economic growth, efficient fiscal and regulatory policy, competitive and open markets, a globally competitive workforce, equal economic opportunity, and nonpartisanship in the nation’s interest. CED’s research falls under four issue areas: fiscal health, education, global competitiveness, and democratic institutions. A Distinguished History The Committee for Economic Development was CED’s membership structure offers business leaders an founded in 1942 during World War II by a group of opportunity to impact public policy in numerous areas business leaders who were concerned about the future and through multiple platforms, including: formulating of the global economy. policies that are derived from rigorous research; CED’s work in those first few years led to great policy briefing lawmakers about the need for sound policies; accomplishments, including the Bretton Woods and raising issue awareness by participating in events Agreement, establishing both the World Bank and and media interviews across the U.S. International Monetary Fund, and the Marshall Plan, the economic development program that helped rebuild Europe. In recent decades, CED has made significant contributions across its portfolio, including increasing access to pre-kindergarten and college, advancing campaign finance reform nationwide, placing more women in corporate leadership, and reducing government spending. Today, CED continues to have an impact through its trusted research and advocacy.
    [Show full text]
  • Asia Council On
    Asia Council on Business Conduct The Asia Council on Business Conduct provides an exclusive network for the candid discussion of the key ethics, governance, and business practice issues confronting corporations at home and in host countries. Council members exchange views on areas of common concern, including how to develop effective compliance systems, balance stakeholder interests, and articulate the core principles of corporate governance. The Council Program Conference Board Councils are exclusive, cross-industry groups comprised of both local companies and MNCs that meet in person 2–3 times a year for a day and a half to share knowledge and discuss emerging business trends. Council members benchmark with peers and can take advantage of council resources online through our Members Only Web site. Each council has its own Web site, with links to partner councils, which provides council members with even greater access to our global network of executives. Membership Requirements Meetings per year: 2 Council Representative Poonam Barua Members must be the senior execu- poonam.barua@conference-board.org tive—chief executive officer, chief (91) 11 2689 8869 financial officer, Board director, Jed Luksin legal counselor, ethics officer, or jed.luksin@conference-board.org (1) 212 339 0208 senior manager—responsible for devel- www.conference-board.org oping internal ethics policies and compliance systems and for articulat- ing their company’s core “values” to A Partial List of Represented external constituencies, stakeholders, Companies and
    [Show full text]
  • The Conference Board
    THE BUSINESS KNOWLEDGE NETWORK THE CONFERENCE BOARD newsletter summer 2002 Sharon Patrick on the Conference Board Strategic Model of Martha Forms Blue-Ribbon Governance Group Stewart Living Omnimedia The Conference Board’s newly-formed Com- mission on Public Trust and Private Enter- prise has begun to examine critical corporate Sharon Patrick is President and Chief governance issues and will issue its first Operating Officer of Martha Stewart report and recommendations this fall. Living Omnimedia Inc. The creator of The co-chairs of this blue-ribbon group MSLO’s “Omni” business model and a are Peter G. Peterson, Chairman of The major force in the profitable growth of Blackstone Group and Chairman of the Fed- the company, Patrick is responsible for eral Reserve Bank of New York, and John the company’s strategic development W. Snow, Chairman of CSX and former and transactions, and runs MSLO’s S Chairman of the Business Roundtable. day-to-day business operations. “Misconduct by highly visible corpora- A Trustee of The Conference Board, tions is eroding shareholder value for all cor- Patrick was Martha Stewart’s consultant porations and public confidence in critical beginning in 1993, a founding partner of elements of our economic system,” they MSLO with Stewart in 1996, and declared. assumed her current position in 1997. The Conference Board’s long-standing She received an MBA from the Harvard Sharon Patrick Business School, and a bachelor’s degree reputation for independent fact-finding and in history from Stanford University. She the experience, accomplishments, and rep- was interviewed by Randall Poe in The Q.
    [Show full text]
  • The Conference Board Newsletter Is Written and Edited by Randall Poe, Carol Courter, and Sandra Lester
    THE CONFERENCE BOARD newsletter Winter 2003 The Conference Board Conference Board Forms Directors’ Blue-Ribbon Commission Institute The Conference Board has formed the Calls for Major Reforms Directors’ Institute to provide broad-based education for corporate directors. Endorsed by The Commission on Public Trust and Pri- vate Enterprise, the new Institute offers briefings on key governance issues and pro- vides high-level networking opportunities for directors of major companies. The comprehensive programs will include sessions on compliance, liability and ethics, as well as auditing and compensation issues. Most importantly, it will allow directors to share best practices with their peers. Further information: Diane Insolia, Global Corporate Governance Research Center, 212 339 0392 Members of The Conference Board Commission on Public Trust and Private Enterprise at a press briefing in New York. A Call to Tighten Port Security The Conference Board blue-ribbon In a move to restore investor confidence More than 85 business and government lead- Commission on Public Trust and Private and improve corporate governance, the ers met in Washington D.C. to examine pos- Enterprise has called on companies to seri- Commission also recommended that audit- sible terrorist threats to America’s ports. ously consider separating the offices of ing firms confine their activities to auditing. Co-sponsored by The Conference Board chairman of the board and CEO. “The Commission recommends against pub- and Booz Allen Hamilton, the group learned “The roles of the chairman and CEO lic audit firms performing services that put that a “dirty bomb” attack through Amer- should be performed by two separate indi- them in an advocacy position, such as prof- ica’s port system could cost business more viduals,” concludes the Commission’s final fering novel and debatable tax strategies and than $58 billion and have a crippling impact report.
    [Show full text]
  • The Confernce Board Newsletter Fall 2002
    THE CONFERENCE BOARD newsletter Fall 2002 Charles R. Shoemate on the Mario Monti Briefs Challenges Facing Business The Conference Board Mario Monti, European Commissioner for Competition, gave The Conference Board’s and Restoring Public Trust Board of Trustees a timely update on economic and legal relationships between the United States and Europe. Charles R. Shoemate was Chairman, He explored a wide range of issues, from President and CEO of Bestfoods until it was how to deal with illegal cartels and mergers acquired by Unilever in 2000. He became to liberalizing trade. Monti said that jurisdic- an advisory director in 2001. He is a tions in Europe and the United States are Director of Cigna Corporation, International working closely together and reach agreement Paper Company, Texaco Inc. and is a on the vast majority of cases before them. former Chairman of the Board of Trustees Cat The Conference Board. Q: What is the greatest single challenge facing business? What are the barriers Charles R. Shoemate to success? Shoemate: The single greatest business challenge is to maintain worldwide eco- open markets, can produce sustainable eco- nomic liberalization and growth. nomic growth and improvement in the well Mario Monti (center), Commissioner, Competition Directorate-General, European Commission, at In the short term, the barriers are the dis- being of all that participate in the “system.” The Conference Board’s Trustees Meeting in Europe. trust and the crises of confidence in the busi- The barriers to success are in some ways ness establishment that have resulted from inherent in the strengths of the system. Per- the high-profile failures in a few large U.S.
    [Show full text]
  • The Conference Board
    THE BUSINESS KNOWLEDGE NETWORK THE CONFERENCE BOARD newsletter spring 2002 A.P. Moller/Maersk: The Drive to Make Dealing with a Sluggish Boards More Effective The collapse of Enron is spurring many com- World Economy panies to re-examine their board management systems. A new Conference Board report, available online, provides a valuable check- list of do’s and don’ts in making board A.P. Moller/Maersk,headquartered in Copenhagen, is a leading global shipping firm. The company is processes more effective. also engaged in a multitude of other businesses, The report urges corporate directors, who including the exploration and production of oil and no longer enjoy broad legal protection, to ques- gas, shipbuilding, aviation, supermarkets, and infor- tion management when “red flags” appear and mation technology services. The company has more than 60,000 employees in some 100 coun- even when they sense that serious problems tries operating a fleet of about 250 vessels. are developing. “The first response is to blame Most well-known is A.P. Moller’s shipping arm, the accountants. But the accountants don’t AMaersk Sealand, the world’s leading containerline act in isolation. It takes a board, management, with a network of services connecting all six con- legal counsel and a host of others to create tinents and more than 20,000 port calls per year. The following is a conversation with leaders of some of these spectacular failures of corpo- this remarkable firm. Mærsk Mc-Kinney Møller is rate governance.” Chairman of the Board of the firms comprising The Conference Board report presents a Mærsk Mc-Kinney Møller the nucleus of the A.P.
    [Show full text]
  • DIRECTOR NOTES Maximizing the Benefits of Board Diversity Lessons Learned from Activist Investing
    DIRECTOR NOTES Maximizing the Benefits of Board Diversity Lessons Learned from Activist Investing By Jared L. Landaw, Chief Operating Officer and General Counsel, Barington Capital Group, L.P. Introduction In recent years, publicly traded companies in the United States have faced increasing pressure to improve diversity on their corporate boards. Influenced by state legislation1 as well as the efforts of institutional investors2 and other diversity advocates,3 companies are recruiting more female directors than ever before. Approximately 45 percent of the directors added to the boards of companies in the Russell 3000 during the 2019 proxy season were women, up from 12 percent in 2008.4 The percentage of new directors who are minorities is also increasing, although at a significantly slower rate, with approximately 15 percent of the directors added to the boards of Russell 3000 companies during the 2019 proxy season belonging to a racial or ethnic minority group.5 One of the central arguments cited for improving the diversity of demographic characteristics such as gender, race, and ethnicity on corporate boards is that such diversity is necessary to ensure that boards are able to perform their obligations effectively in today’s competitive business landscape.6 In calling for an increase in gender diversity on boards, Ronald P. O’Hanley of State Street Global Advisors stated, “In a more complex, innovation-driven environment, embracing a diversity of thinking, competencies, and backgrounds is a business imperative.”7 David Solomon, CEO of Goldman Sachs, expressed a similar sentiment when announcing that, beginning July 1, 2020, Goldman Sachs will not take a company public unless it has at least one diverse board member: “I come from a position of my own experience where I look DN-V11N2 | JUNE 2020 | Subscribe for free at www.conferenceboard.org/directornotes © 2020 The Conference Board, Inc.
    [Show full text]
  • Diversity and Work-Life Strategy Council Held Its Inaugural Meeting 12 Recent and Upcoming Events in October at the Offices of UBS in Hong Kong
    WINTER 2007 BoardAsia A NEWSLETTER FOR MEMBERS OF THE CONFERenCE BOARD IN asIA Inside Diversity and Work-Life Strategy 2 Briefings and Surveys 5 Councils Council Launches in Asia-Pacific 10 Recent Research he new Asia-Pacific Diversity and Work-Life Strategy Council held its inaugural meeting 12 Recent and Upcoming Events in October at the offices of UBS in Hong Kong. The new group will be a network for T executives with lead responsibility for diversity and work-life to identify emerging issues and best practices, both globally and regionally. Like all of the councils from The Conference Board, this new group gives senior executives from respected global and large regional companies an invaluable forum for exchanging information, discussing current trends, and engaging in joint problem solving. Andrew N. Bell, author of Leadership Development in Asia-Pacific: Identifying and Developing Leaders for Growth and program director of the Asia-Pacific Human Resources Council, will be the new council’s program director. Ran de Silva, director, global diversity, UBS and Geoff Hayward, managing director, head of human resources, APAC, and global head of reward and human resources operations, Andrew N. Bell Program Director of UBS, opened the meeting. Bell then led a roundtable where the Asia-Pacific Diversity and Work-Life Strategy Council members introduced themselves, shared their key objectives and expectations for the council, and gave their personal and corporate perspectives on diversity in the Asia-Pacific context. Next, Karen Harries, director, work- life balance specialist, UBS, presented the company’s approach to work-life strategy development and policy implementation and led a discussion of best practices and likely new developments.
    [Show full text]
  • Board Europe Board Europe
    > SPECIAL MADRID ISSUE Volume 23 • Number 7/8 Board Europe A NEWSLETTER FOR MEMBERS OF THE CONFERENCE BOARD IN EUROPE July/August 2008 Pedro Solbes, Vice President & Minister The Conference Board Trustees with Distinguished Dinner Guest Douglas Conant, Chairman, Board of Finance of Spain, speaking at The Pedro Solbes, Vice President & Minister of Finance of Spain, hosted of Trustees, The Conference Board, Conference Board’s Trustees’ and by Francisco González at BBVA’s Palacio del Marqués de Salamanca and President and CEO, Campbell Members’ Dinner. in Madrid. Soup Company. BRIC House: As growth slows to a crawl in the U.S. and Europe, Latin America is enjoying an economic renaissance. What are they doing right? Latin America’s By Marc Stegeman Economic Miracle Not so long ago, Latin America was the poor relation of the global economy, with soaring inflation, collapsing currencies, rampant poverty and social unrest. Today, Latin America is on a roll. Brazil, one of the rapidly emerging markets, is the 10th largest economy in the world, followed by Mexico at No. 11. Chile is enjoying boom times, as are traditional slow performers such as Colombia, Peru and Ecuador. As the U.S. and Europe enter what is expected to be a protracted period of slow growth, what lessons can be drawn from this economic rebirth? Rising commodity prices, notably for oil, are part of the story. Latin America is rich in natural resources, including minerals and one other commodity of vital importance for the future: water. But it is also rich in human resources. Efforts in recent years to improve education, both public and private, are helping to raise skill levels and shift more of the labor market into jobs that generate higher productivity growth (see article on page 3).
    [Show full text]
  • News Release
    News Release Follow The Conference Board For further information: BEIJING: The Conference Board China Center for Economics and Business Claire Xia + 86 10 8532 4688 / claire.xia@conference-board.org NEW YORK: The Conference Board Jonathan Liu +1-732-991-1754 / jonathan.liu@conference-board.org Carol Courter +1-732-672-2817 / courter@conference-board.org BRUSSELS: The Conference Board Andrew Tank + 32 2 675 5405 / andrew.tank@conference-board.org For Release August 25, 10:00 A.M. Beijing time (August 24, 10:00 P.M. New York time) The Conference Board Leading Economic Index® for China Increased in July Beijing, August 25, 2015…The Conference Board Leading Economic Index® (LEI) for China increased 0.9 percent in July to 331.2 (2004 = 100), following a 0.6 percent increase in June and a 1.1 percent increase in May. Total loans issued by financial institutions made the largest positive contribution to the index, followed by the 5000 industry enterprises diffusion index: raw materials supply index, and total floor space started. The consumer expectations index, The PMI new export orders index, and the (inverted) PMI supplier delivery index declined in July. “July’s gain in the Leading Economic Index for China was driven mainly by bank loans, while consumer sentiment, manufacturing, and exports were all weak,” Said Jing Sima, senior economist at The Conference Board. “Despite the gain, the increased volatility in the LEI, lack of strength in the real economy, and recent turmoil in China’s stock and currency markets suggest that China’s economy will be facing increasing downside risks in the months ahead.” The Conference Board Coincident Economic Index® (CEI) for China, which measures current economic activity, increased 1.1 percent in July to 278.4 (2004 = 100), following a 0.2 percent increase in June and a 0.6 percent increase in May.
    [Show full text]
  • Two Conferences Focus on Corporate
    Winter 2006 Boarda newsletter for members of the conferenceAsia board in asia Inside Two Conferences Focus on 2 Recent Conferences and Events Corporate Governance in China 3 Upcoming Conferences 4 Council News Carolyn Brancato, director of The Conference Beijing Bureau, used his keynote speech to rein- Board Corporate Governance Research Center, force the essential role of corporate governance 7 Recent Research led two major corporate governance conferences in ensuring the integrity of China’s banking sys- 8 Events in Beijing in October that were sponsored by tem. Wu Taishi, the head of research at the Bank Deloitte China and Towers Perrin. The first was of Communication and an instrumental player in the Forum on Corporate Governance, which was that bank’s successful public offering, spoke on developed in close partnership with the State- the pressing need for Chinese banks to seek Owned Assets Supervision and Administration joint venture partners who incorporate a high Commission (SASAC) and included more than standard of corporate governance throughout the 120 attendees from Chinese state-owned enter- organization before seeking external financing. prises (SOEs) preparing for privatization. In his keynote address, Liu Dongsheng, director-gen- eral of the Enterprise Reform Bureau of SASAC, explored the relationships in SOEs between state shareholders, the board of direc- tors and the supervisory board. More specifi- cally, he discussed how a clear definition of roles and responsibilities between SOEs and their holding companies is crucial to effective corporate governance and establishing a bal- ance between decision making and execution. Liu also stressed the need to set up a strong supervisory board composed of experienced directors who are not members of management to avoid some of the problems inherent in over- lapping roles.
    [Show full text]