The hottest Corporate Governance Substack posts right now

And their main takeaways
Category
Top Business Topics

Ethical firms are more likely to merge

Klement on Investing • 1 implied HN point • 01 Dec 25
💰 Finance Corporate Governance
  1. Firms that merge tend to have fewer ethical complaints because buyers avoid targets with poor records and targets resist buyers with bad ethics.
  2. After a merger reported ethics violations fall by about 17–22%, largely because combined firms disproportionately lay off employees with past complaints.
  3. Unethical employees often get rehired elsewhere, especially at larger firms, so misconduct persists and the industry gradually splits into high-integrity and low-integrity firms.

Illumina: Non-GAAP Activism

Nongaap Investing • 57 implied HN points • 29 Apr 23
💼 Business Corporate Governance
  1. Activist investor Carl Icahn is pushing for an independent investigation into Illumina's financial dealings.
  2. In contested elections like this, the reputation of board members plays a crucial role.
  3. Shareholders are demanding greater transparency and clarity from Illumina regarding potential conflicts of interest.

Illumina: Icahn's Gambit

Nongaap Investing • 50 implied HN points • 08 May 23
💼 Business Corporate Governance
  1. Illumina's response to a blogger's questions might lead to resignations in the company.
  2. Addressing unanswered issues could influence significant governance matters at Illumina.
  3. Investors should pay attention to unaccounted shares, financial dealings, and potential conflicts within Illumina and Grail.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

[P] TGNA: Deregulatory M&A

Nongaap Investing • 2 implied HN points • 15 Aug 25
💼 Business Corporate Governance
  1. Understanding mergers and acquisitions (M&A) can give insights into how companies are governed. Governance signals help us see what businesses might do in the future.
  2. Deregulation can influence M&A activities, making it easier for companies to grow and merge. When regulations are less strict, companies may take more bold steps.
  3. This information is shared with subscribers who want a deeper look into investments. Being a paid member can provide access to detailed analysis and discussions.

SVB: Conflicts of (Insider Loan) Interest

Nongaap Investing • 37 implied HN points • 22 Mar 23
💼 Business Corporate Governance
  1. Silicon Valley Bank faced a significant spike in insider loans, raising concerns about VC conflicts of interest and Director independence.
  2. Approximately 38% of SVB's reported incremental venture debt went to start-ups affiliated with Directors, prompting questions on underwriting transparency.
  3. The lack of disclosure in the Proxy Statement and the concentration of loans to insider-affiliated start-ups suggest potential VC conflicts of interest impacting risk management.

Revisiting Stock Buybacks

Fish Food for Thought • 6 implied HN points • 22 Jan 25
💼 Business Corporate Governance
  1. Companies that buy back their stock instead of investing in research and development may reduce innovation. This can lead to fewer new products and a weaker market position in the long run.
  2. Stock buybacks can be a sign that a company thinks its shares are undervalued, but many companies end up overpaying for their own stock. This means that, sometimes, buybacks might not be a good investment.
  3. Critics say buybacks manipulate stock prices and benefit top executives more than long-term investors. Instead of improving the company's health, these practices could hurt its future growth and stability.

[PQ] PLTK: Playing Bad (Governance) Odds

Nongaap Investing • 5 implied HN points • 21 Jan 25
💰 Finance Corporate Governance
  1. Bad governance can sometimes lead to unexpected investment opportunities. It means that when things look risky or poorly managed, there might be a chance for profit.
  2. Investors need to carefully assess the risks before jumping in. Just because something seems like a good deal doesn't mean it won't come with surprises.
  3. Understanding the company's governance and management style is important. Knowing how they operate can help you make better investment decisions.

The ESG Movement: The "Goodness" Gravy Train Rolls On!

Musings on Markets • 19 implied HN points • 14 Sep 21
💼 Business Corporate Governance
  1. Measuring goodness in businesses is really hard. Different people have different views on what is 'good,' making it tough to agree on what counts.
  2. Being a good company might help some businesses make more money, but it can also hurt others. The proof that being good pays off is still unclear.
  3. Trusting companies to be good for society isn’t enough. It’s important for individuals to make their own choices and not just rely on businesses to solve social issues.

✅ Monday briefing: BBC link standards, Sky data journalism, corporate crime, brand vandals, PR capitalism, voice transcription, WaddsCon July, Socially Mobile launch, and more…

Wadds Inc. newsletter • 19 implied HN points • 12 Jul 21
💼 Business Corporate Governance
  1. BBC News has strict rules about linking to outside websites, ensuring links are fair and not influenced by outside pressures.
  2. Sky News is focusing more on data journalism because people's trust in news has grown during the pandemic.
  3. There are ongoing discussions about ethical practices in business, including a utility company dumping sewage to cut costs and recent controversies with brand advertisements.

Who friendshores and why?

Klement on Investing • 1 implied HN point • 17 Jul 25
💼 Business Corporate Governance
  1. Friendshoring is when companies move their supply chains to friendlier nations due to political changes. This shift in focus has become more important since recent changes in US politics.
  2. The decision to friendshore often depends on the political views of a company's CEO. Those aligned with the ruling party are more likely to drop suppliers from adversarial countries.
  3. Changing suppliers for friendshoring doesn’t seem to add value to a company's shares. Sometimes, costs go up or returns don’t change, which can make the move less beneficial.

The cost of greenwashing

Klement on Investing • 1 implied HN point • 14 Jul 25
💰 Finance Corporate Governance
  1. Greenwashing can seriously hurt a company's reputation and stock price. When a company is caught misleading about their environmental practices, investors tend to react strongly by selling their shares.
  2. The impact of greenwashing varies by country. Companies in the US, UK, and Canada see bigger price drops after greenwashing incidents compared to those in Japan and Australia.
  3. Once a company is associated with greenwashing, it can struggle to regain trust. Investors often remain cautious, causing ongoing negative effects on the company's stock even months after the incident.

[PQ] TWLO: Chief Legal Officer Resigns

Nongaap Investing • 2 implied HN points • 17 Dec 24
💼 Business Corporate Governance
  1. The Chief Legal Officer of TWLO has resigned unexpectedly. This kind of sudden change can raise questions about the company's situation.
  2. Such resignations can signal possible issues within the company, like internal conflicts or changes in direction.
  3. It's important to pay attention to who takes over next, as this could influence TWLO's future actions and strategies.

The Case Against Corporate Stock Buybacks

Fish Food for Thought • 7 implied HN points • 09 Aug 23
💼 Business Corporate Governance
  1. Companies use excess cash for stock buybacks when they lack better investment opportunities within the company.
  2. Stock-based compensation dilutes shares held by investors, impacting the company's stock value.
  3. Excessive stock buybacks show a belief that there are limited internal investment prospects, potentially thwarting company growth.

These oil shareholders are not for the turning

Fund Marketer • 3 implied HN points • 29 May 24
💼 Business Corporate Governance
  1. Many oil shareholders are not changing their views on climate proposals, even amidst protests. They tend to vote for management's put forth resolutions rather than the more aggressive ones suggested by other investors.
  2. The 'silent majority' of shareholders may not actively voice their opinions, but their votes can heavily influence outcomes at shareholder meetings. This often leads to management proposals winning significantly.
  3. Recent studies suggest that 'nudging' people toward certain decisions might not work as well as thought. Those nudged may not stick with their choices as much as those who decide independently.

Share Count Confusion: Dilution, Employee Options and Multiple Share Classes!

Musings on Markets • 19 implied HN points • 26 Jul 18
💰 Finance Corporate Governance
  1. Young companies often face expected dilution, which means they will need to issue more shares to raise money. This can affect their value per share, as more shares mean the value is spread thinner.
  2. Stock-based compensation (SBC) can complicate valuations because it adds shares into the mix, affecting overall value. It's important to account for both past options and future grants to get a clear picture of share value.
  3. When companies have different types of shares that carry different voting rights, it can create confusion in valuations. Each share type must be valued separately to accurately determine their worth.

Unity Bank Fraud: An Unfolding Story Of Nigerian Corporate Malfeasance

westafricaweekly • 3 implied HN points • 02 Dec 23
💼 Business Corporate Governance
  1. The former chairman of Unity Bank in Nigeria orchestrated a massive financial scandal involving billions of naira in non-performing loans and a dubious loan portfolio sale.
  2. The scandal involved regulatory malpractice, compliance fraud, and the misuse of bank funds by insiders, leading to severe financial harm to the bank and potential systemic risks.
  3. Despite clear regulatory violations, the bank's management, auditors, and regulators failed to take appropriate action, highlighting a need for thorough investigations and accountability measures.

Home bias everywhere

Klement on Investing • 1 implied HN point • 18 Mar 24
💰 Finance Corporate Governance
  1. Investors tend to favor domestic companies over foreign ones not only in investment portfolios but also in shareholder voting decisions.
  2. Shareholders show a bias towards voting in favor of management proposals, especially in contentious issues, with a significant preference for domestic companies.
  3. Factors like potential business ties, governance rules, and information quality contribute to this home bias in voting behavior, making it challenging to hold domestic company managers accountable.

When asset management employees spill the beans

Fund Marketer • 1 implied HN point • 21 Feb 24
💼 Business Corporate Governance
  1. More employees in asset management are speaking up about their workplace issues. This change is happening because of struggles within the industry and the willingness to share grievances online.
  2. Companies like Jupiter and Citigroup are facing internal conflicts that are spilling into the public eye. Instead of just keeping things quiet, these issues are being reported, highlighting struggles between management and their internal teams.
  3. There may be some benefits to this openness, as leaks about misconduct could lead to improvements in industry practices. By exposing problems, employees hope to push for better working conditions and accountability.

Billionaire Space Battle

Innovation Nation • 0 implied HN points • 03 Sep 23
💼 Business Corporate Governance
  1. SpaceX is the most prominent and reliable space launch provider.
  2. Amazon's decision to choose unproven launch vehicles for satellite launches is facing serious challenges.
  3. The lawsuit against Amazon highlights potential breach of fiduciary duty and self-dealing by the board and executives.

A coming out party for the world's most valuable company: Aramco's long awaited IPO!

Musings on Markets • 0 implied HN points • 18 Nov 19
💼 Business Corporate Governance
  1. Aramco is set to become one of the world's most valuable companies due to its massive oil reserves and low extraction costs. This gives it an edge over other oil companies.
  2. Investing in Aramco is not like buying shares in a regular company, since the Saudi government controls it. Investors should expect limited influence over decisions and view their investment more like providing capital.
  3. There are risks to consider, including the political situation in Saudi Arabia and how oil prices can affect earnings. Investors should be aware that they may not see a lot of price increase, mostly relying on dividends.

The Softbank-WeWork End Game: Savior Economics or Sunk Cost Problem?

Musings on Markets • 0 implied HN points • 15 Nov 19
💼 Business Corporate Governance
  1. Softbank invested heavily in WeWork after a failed IPO, raising questions about whether they were rescuing a sinking ship or throwing good money after bad. Their decision highlights how past investments can warp future choices.
  2. Fair value accounting can give misleading pictures of a company's worth because it’s based on market prices rather than real value. This can lead companies to make poor decisions just to improve their accounting numbers.
  3. Investing isn't just about being smart; it's also about being humble. Investors who acknowledge their mistakes and learn from them tend to make better decisions, unlike those who get arrogant after a few wins.

Insights on VC Pricing: Lessons from Uber, WeWork and Peloton!

Musings on Markets • 0 implied HN points • 17 Sep 19
💼 Business Corporate Governance
  1. Companies often exaggerate their market potential to attract investors. They use fancy terms to describe their business, which can make their market claims seem less credible.
  2. Many of these companies focus heavily on scaling their user base and revenue, but not enough on developing solid business models. Sometimes they grow so fast that their financial foundations get ignored.
  3. A lot of these newly public companies have poor earnings and complex ownership structures, making them feel unstable. Investors should be cautious as they might not have a clear plan for profitability.

Runaway Story or Meltdown in Motion? The Unraveling of the WeWork IPO

Musings on Markets • 0 implied HN points • 09 Sep 19
💼 Business Corporate Governance
  1. WeWork's business model is built on leasing office spaces and redesigning them for flexibility, targeting young and small businesses. This differs from traditional real estate, which usually involves long-term leases and buying properties.
  2. The company faces major risks due to its heavy debt and potential economic downturns. It has locked itself into long leases while offering short-term rentals, creating a mismatch that could lead to financial trouble.
  3. The initial excitement around WeWork's IPO has faded, with concerns about its governance and the CEO's actions overshadowing its growth story. Investors are now more skeptical about whether the company can deliver on its promises.

From Shareholder wealth to Stakeholder interests: CEO Capitulation or Empty Doublespeak?

Musings on Markets • 0 implied HN points • 28 Aug 19
💼 Business Corporate Governance
  1. The Business Roundtable announced a shift in focus from just shareholders to all stakeholders, including customers and employees. This means companies should consider the well-being of everyone involved, not just profit.
  2. Different models of how corporations operate exist, like cutthroat or crony capitalism, which prioritize profits over people. Understanding these models can help us see how corporate decisions affect society.
  3. The statement from CEOs could be seen as either a genuine change or just a way to improve their public image in response to criticism. It's important for companies to actually link good treatment of stakeholders with financial success.

Disclosure Dilemma: When more (data) leads to less (information)!

Musings on Markets • 0 implied HN points • 14 Jul 21
💼 Business Corporate Governance
  1. More disclosure doesn't always help investors understand companies better. In fact, long and complicated reports can make it harder to find important information.
  2. Corporate filings like the 10-K and S-1 have gotten longer and more complex over the years. This means that reading them has become more confusing and less helpful for investors.
  3. There should be a balance in disclosures. Regulators need to consider what information truly benefits investors, not just add more rules that lead to information overload.

DirectorMoves

DirectorMoves • 0 implied HN points • 13 Jan 24
💼 Business Corporate Governance
  1. The post is about Director and CEO Moves in different companies.
  2. The featured article discusses the most significant tech trends in 2024.
  3. Paid subscribers get access to exclusive content on DirectorMoves.

Improving valuations through better governance

Klement on Investing • 0 implied HN points • 19 Feb 24
💼 Business Corporate Governance
  1. Improving share liquidity may not be the best way to increase company valuations. Focus on improving corporate governance instead.
  2. Increasing share liquidity by reducing the bid-ask spread can lead to a significant increase in company valuation, compared to measures like larger boards or institutional ownership.
  3. Improving corporate governance, measured by indices like ISS Board Quality scores, can have a more significant impact on increasing company valuations than just focusing on liquidity.

Tanovo Completes Series A Financing

CyberSecurityMew • 0 implied HN points • 08 Jan 24
💼 Business Corporate Governance
  1. Tanovo completed Series A financing with Yida Capital and Anyuan Fund investing. The funds raised will enhance Tanovo's AI-driven cybersecurity compliance platform.
  2. Tanovo has provided cybersecurity services to thousands of government and enterprise clients in China over the past decade and has expanded its network security services across major cities nationwide.
  3. In recent years, Tanovo has focused on core areas like compliance and governance, increased investment in research and development, and diversified corporate growth into trade secrets protection and judicial appraisal.

Stakeholder capitalism

The Jolly Contrarian • 0 implied HN points • 09 Jun 23
💼 Business Corporate Governance
  1. Shareholder capitalism emphasizes maximizing profit for shareholders as the primary goal of corporations.
  2. Stakeholder capitalism has gained popularity, shifting focus towards considering the interests of all stakeholders, not just shareholders.
  3. The conflict between shareholder and stakeholder capitalism lies in prioritizing monetary interests over ethical values, and the need for corporations to stay focused on generating profits.

Will Corporate Governance Reforms In Japan Lead to More Inward FDI?

Japan Economy Watch • 0 implied HN points • 18 Nov 21
💼 Business Corporate Governance
  1. American business leaders in Japan believe that corporate governance reforms could lead to more acquisitions of healthy Japanese businesses by foreign companies.
  2. Despite corporate governance reforms aiming for better efficiency and profitability, companies have not significantly divested or improved their core competencies.
  3. Recent data shows that despite improvements in profitability, it may be due to artificial factors rather than actual corporate efficiency gains.

What's happening at OpenAI?

Jon’s Newsletter • 0 implied HN points • 21 Nov 23
🕹 Technology Corporate Governance
  1. Sam Altman was removed as CEO of OpenAI, causing a big shake-up in the company. The board was worried that OpenAI was moving too fast with its business plans.
  2. Greg Brockman, the President, quit in protest and many OpenAI staff members threatened to leave for Microsoft. They even asked for the board to resign.
  3. Microsoft quickly hired Altman and Brockman to lead an AI team, and has seen a big boost in its stock value since its investment in OpenAI.

Corporate social responsibility & Friedman

Logos • 0 implied HN points • 19 Jan 21
💼 Business Corporate Governance
  1. Friedman's idea emphasizes that businesses should focus on maximizing profits for their shareholders, not on social responsibilities. Critics, however, argue that companies should consider broader societal issues.
  2. Many companies today engage in social responsibility campaigns, blending genuine intentions with marketing strategies to boost profits. It's often hard to distinguish between doing good and doing it for profit.
  3. Debates around corporate responsibility raise questions about who decides what is 'good' and whether that should be left to companies or governed democratically. Without clear consensus, companies can struggle to define their role in society.

✅ Monday briefing: Shell suit, ESG and PR pod, TikTok Promote, Twitter reach, missing links, AI misinformation, PR for company directors, risk report, Algorithms for Her, and more...

Wadds Inc. newsletter • 0 implied HN points • 13 Feb 23
💼 Business Corporate Governance
  1. A group of investors is suing Shell for not handling climate risks properly, despite the company making big profits.
  2. New tools on TikTok are available to help accounts increase views and engagement with targeted audiences.
  3. A recent demonstration of Google's new AI tool made headlines for providing false information, highlighting the need for careful fact-checking.

✅ Monday briefing: AI threat to search, LinkedIn engagement, Twitter lists, pitch woe, management gap, shades of green, and more...

Wadds Inc. newsletter • 0 implied HN points • 23 Jan 23
🕹 Technology Corporate Governance
  1. AI is changing the search market, making Google nervous and leading to job cuts. It's a big shift that's shaking up the industry.
  2. LinkedIn is seeing more users engaging with posts since people are looking for new platforms during Twitter's downsizing. It's a great time for businesses to connect there.
  3. It's getting harder for businesses to get media coverage, with fewer pitches being answered by journalists. This makes getting attention for news harder than before.

✅ Monday briefing: Press freedom, best practice content, communication design, accessibility advice, audio branding, Sorrell on PR, ESG survey, Facebook manipulation and more…

Wadds Inc. newsletter • 0 implied HN points • 19 Apr 21
💼 Business Corporate Governance
  1. Press freedom is a serious issue, with the recent murder of a journalist in Europe highlighting ongoing dangers. More awareness and action are needed to protect reporters.
  2. Content creation and communication design are improving, with government guidelines helping people write better for specific audiences. It's important to understand who you're talking to.
  3. Audio branding is becoming popular, meaning companies are paying attention to how they sound. For example, car manufacturers are creating unique sounds for their electric cars.