Columns

Holding: U.S. judges could use CEO succession tips

19 April 2018

The Supreme Court’s Anthony Kennedy is expected to retire soon, taking advantage of a Republican president and Senate to ensure a like-minded heir. Yet his replacement probably won’t share his views, a new study suggests. Even when bosses have well-laid plans, they can go awry.

Hadas: Knowledge is better shared than patented

18 April 2018

China is moving towards stronger protection of intellectual property. Trump’s prodding may speed up the pace. But hoarding knowledge is getting harder and less worthwhile, especially in developing countries. A global “Republic of Technology” may eventually replace patent wars.

Cox: Belt and Road paving way to worrying excess

17 April 2018

Hallmarks of speculative exuberance abound with China's plan to recreate modern Silk Road trade routes. There are fancy new banking jobs, silly conferences and creative investment ideas. The danger is the $1.5 trln initiative devolves into an epic era of capital misallocation.

Hadas: Even Trump can’t make graft great again

11 April 2018

Resistance to corruption is evident in cases against ex-leaders of South Korea, Brazil and South Africa. Old royal privileges make no sense in modern economies. U.S. officials and the corporate elite have strayed, but rising middle classes will keep straightening out the crooked.

Hadas: Monopsony money

5 April 2018

In theory, single-buyer markets can squeeze suppliers as much as single-seller monopolies hurt buyers. But enhanced employer power doesn’t always hurt workers, and labour monopsonies are only one of many reasons for slow U.S. pay gains. Oligopolies should be a bigger worry.

Cox: Sinclair is more totalitarian than democratic

4 April 2018

Donald Trump's favorite $3 bln broadcaster is downright deplorable, at least when it comes to corporate governance. The board is stocked with ancient cronies – with no women in sight. Fold in the controversy over its Orwellian editorial policies and the stock is best avoided.

Holding: #MeToo is putting corporate law on trial

29 March 2018

Claims of sexual misconduct at the likes of Fox and Wynn Resorts have led to suits over board duties and disclosure. They’re long shots, largely because business governance is an awkward tool for social change. Yet investors and victims are giving it a new and useful purpose.

Hadas: Populist economics can be sensible

28 March 2018

U.S. President Donald Trump, Italy’s 5-Star Movement and other modern populists are floundering with outdated or bad economic plans. They would do more to help those left behind by globalisation if they used higher taxes to create better jobs and strengthen welfare security nets.

Cox: A beneficent billionaire should buy Remington

27 March 2018

The AR-15 maker filed bankruptcy papers a day after millions of Americans marched in favor of banning its products. Owners and creditors just want out in a hurry. But Bloomberg, Gates or Bezos could turn Remington into a force for sensible gun policies with mere pocket change.

Chancellor: Index investment riskier than it looks

22 March 2018

That investors are abrogating their responsibilities to allocate capital intelligently is a danger from the rapid growth of passive fund management. Less widely aired, but of greater concern, is the threat posed to financial stability by the dominance of benchmark-tracking funds.