What’s governance?

In Thursday’s The Wall Street Journal several major corporate players posted a full-page ad titled “Commonsense Corporate Governance Principles.”  There was an accompanying article, “Corporate Leaders Back Best Practices,” The Wall Street Journal, July 21, 2016 B3.

I was struck.  While there was a lot of language about independence and trust and leadership and transparency, the words “duty” and “compliance” were not mentioned.

Curious.  Principles without a mention of duty.  One wonders why we have problems with corporate governance.

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