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Governance

Corporate governance in South Korea: Samsung scores a victory for South Korea's succession tradition

SAMSUNG pulled out the stops to woo investors in Samsung C&T, the group’s construction and trading division, ahead of a much-anticipated shareholders’ meeting on July 17th. Watermelons and walnut cakes were hand-delivered to shareholders’ homes; text messages implored them to toe the line. Solemn front-page advertisements, which ran in almost …

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Corporate governance in South Korea: Reconstructing Samsung

FOR many South Korean consumers, the chaebol, family-owned conglomerates that are into everything from electronics to amusement parks, are a source of pride. For investors, they can be a headache. Shareholders were reminded of this in May when Samsung proposed to merge two of its affiliates: Cheil Industries, the group’s …

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Japan and corporate governance: At the sharp end

EUPHORIA has recently broken out over a supposed new dawn of better corporate governance and higher profits for Japanese industry. But bad news this week from Sharp, a firm once a symbol of the country’s economic clout, and Toshiba, another engineering giant, were reminders of how incomplete the transformation is. …

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An activist manifesto

In August 2013, I tweeted to my followers that we believed Apple was “extremely undervalued”.Since then Apple’s stock price has increased by over 50%. The Economist has asked me to write 850 words of advice on what the investor should do to profit in 2015. At the risk of being …

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Corporate governance in Japan: A revolution in the making

THE silence of large Japanese shareholders in Olympus in 2011-12 as the firm plunged into the country’s biggest accounting scandal in decades was one of the affair’s most worrying features. It was left to two foreign fund managers to make public demands for answers after Michael Woodford, the optical-equipment maker’s …

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Governing the BBC: Lights, action, meltdown

SHARP-SUITED television executives at the British Broadcasting Corporation (BBC) covet dramas riveting enough to stop viewers switching over to their commercial rivals. On September 9th an appearance by seven of the broadcasting world’s big beasts before the Commons Public Accounts Committee provided enough tension, vengeance and omens of further upheaval …

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Oil in Russia: Picnic time for teddy bears

“WE LOVE our teddy bear. We will clean it and take care of it.” This is how Igor Sechin, Russia’s energy tsar, described his attachment to Rosneft, the country’s largest state oil company, of which he is also the chief executive. The occasion was a pow-wow with investors in London …

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ThyssenKrupp: Cracks in the steel

GERHARD CROMME (pictured) surprised no one with the news on March 7th that he would step down at the end of the month. He has been the face of German steel for the past 24 years: twelve as chief executive of Krupp (which became ThyssenKrupp in 1999) and twelve as …

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Corporate governance: Shareholders at the gates

SO MUCH for gratitude. In the past financial year, Walt Disney delivered everything you might expect from the owner of a Magic Kingdom. Bumper profits, a well received acquisition of Lucasfilm, prospects that everyone agrees are better than ever. No wonder that shares in the entertainment conglomerate are at an …

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