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13 high profile CEOs of U.S. companies secretly worked for one year to develop corporate governance principles that would serve as a future pathway. They advocated their resulting document as being detailed and tough-minded with commonsense recommendations and guidelines about the roles and responsibilities of boards, companies, and shareholders. However, these corporate governance principles did not provide any specific guidance or perspective on the use of common share buybacks to improve earnings per share, which has become a popular form of earnings management by U.S. public companies. This paper analyzes the buyback strategy of these CEOs' own public companies plus a sample of their major competitors. For these well-known major U.S. companies, the common stock buyback strategy to improve the profitability performance of net income growth to a larger EPS growth occurred 61% of the time for annual growth periods and 100% of the time for the four-year growth period. Accordingly, this paper recommends buybacks guidance for corporate governance, consistent with public reporting and management compensation guidelines.

The Corporate Governance Committee of the Corporate Governance Forum of Japan, chaired by Mr. Tadao Suzuki, President of the Mercian Corporation, published their final report in May 1998. Their innovative work followed a long period of discussion and stemmed from the original foundation of the Corporate Governance Forum in 1994 by Mr. Kaneo Nakamura of the Industrial Bank of Japan, who invited top business leaders to discuss governance issues.The following extracts from the first two chapters of the report provide some valuable insights into corporate governance perspectives and practices in Japan. The report offers a set of principles which provide a two‐step formula for realizing effective corporate governance in Japan –"principles which should be adopted immediately (or as soon as possible after legal reform) are shown as step 'A' principles: step 'B' principles should be aimed for early in the 21st. century "to illuminate the path toward the global market, but require legal reform on a grand scale."

This research was conducted to find out how the application of the principles of Good Corporate Governance by Bank Indonesia to Commercial Banks and what are the legal consequences if Commercial Banks do not apply the principles of Good Corporate Governance in carrying out banking activities. This research is a normative legal research with a statutory and conceptual approach and qualitative data analysis. The results obtained from research conducted were that the implementation of Good Corporate Governance at Commercial Banks by Bank Indonesia was caused by the economic and monetary crises that occurred in Indonesia in 1997-1999 due to the failure to apply Good Corporate Governance in every activity in the company and in banking and legal consequences. for Commercial Banks that do not apply Good Corporate Governance in their banking activities as stipulated in Bank Indonesia Regulation Number 8/14 / PBI / 2006 Article 69, namely administrative sanctions and No criminal sanctions for Commercial Banks that do not apply Good Corporate Governance in their banking activities.

Unless developing countries embrace a corporate governance perspective, privatization is unlikely to provide the benefits of improved performance with accountability. This article introduces the concept of governance chains that can constrain the grabbing hands of public and private actors by providing information and accountability mechanisms to help investors monitor managers. Empirical data on established firms from 49 countries provide estimates of the relative importance and strength of private and formal chains of governance. The framework and empirical benchmarks help explain the outcomes of past privatizations and suggest certain steps that governments can pursue to be sure to get the most out of future privatization activity.

This report is based on the Workshop "Unbundling, Reporting and Benchmarking (TF URB)", organised by the Florence School of Regulation cooperation with ERGEG Task Force on 25 September 2009 in Berlin. ; The 25th of September 2009, the European Regulators Group for Electricity and Gas (hereafter "ERGEG") in cooperation with the Bundesnetzagentur and the Florence School of Regulation organized a Workshop on unbundling and corporate governance in the 3rd Package. The workshop was organized to present and discuss the practical impacts of implementing inter alia the 2009 Electricity Directive 2009/72/EC Natural Gas Directive 2009/72/EC (hereafter "EU-Directives") into national law. Participants came from transmission system operators, regulatory authorities, academia and the European Commission. The objective of the workshop was to introduce those problems that might arise when transposing the new legislation into national law, namely with regard to the implementation of ownership unbundling, the new Independent System Operator (hereafter "ISO") model and particularly the Independent Transmission Operator (hereafter "ITO") model. In this respect, possible impacts on corporate governance rules - principally based on the 2004 OECD Corporate Governance Codex on the unbundling of energy utilities - have been highlighted.

The purpose of this article is to discuss the barriers to effective corporate governance principles in state-owned enterprises (SOEs) in Zimbabwe in order to have an influence on policy debates. This study used a qualitative research approach, and a case study research design was followed, in order to attain the objective of the research. Semi-structured interviews were carried to get the views of the respondents on barriers to effective corporate governance principles in SOEs in Zimbabwe. Respondents chosen were members of the audit committees (ACs), permanent secretaries (PSs), chief executive officers (CEOs), senior managers (SMs), board of directors (BoDs) and chief audit executives (CAEs). Respondents were chosen due to their ability to act on the study's findings and recommendations. Data was analysed using Atlas.ti version 8. The study revealed that there are cases of poor and mis-governance in SOEs in Zimbabwe. Egregious cases include non-adherence to corporate governance rules and laws, degenerating against the Public Finance Management Act, [Chapter 22:19] as well as paying ignore in the submission of the financial statements which are audited. The article therefore, recommends that for an emerging country like Zimbabwe to enjoy the advantages of effective corporate governance principles, reviewing the legislations which are currently there as well as strengthening the enforcement strategies of the regulatory institutions is of paramount importance. The findings are limited to a Zimbabwean case study alone. Be that as it may, great lessons can be drawn for other developing economies from the case study. Apart from classifying cases of poor or mal-governance in SOEs in Zimbabwe, the article gives recommendations for policy in-order to improve corporate governance in SOEs in Zimbabwe. There is a dearth of study on barriers to effective corporate governance principles in SOEs in Zimbabwe; therefore, there is a gap in the literature. Hence, the paper makes an original contribution to the literature. ...