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Corporate stewardship: making the leap from theory to practice

A starting point for practical improvement in the investor chain lies in the application of two very simple words - value and mandate.

For boards of directors, the starting point of good stewardship is a clear mandate.

THE chairman of a well-known property company was reminiscing, in private, on the boom years before 2008. He admitted that, to his great regret, he had failed to resist the pressure from institutional shareholders to increase the company's debt and pay out more to those shareholders. This...

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