BlackRock and the NationalAssociation of Corporate Directors (NACD) are pleased to announce the
\nwinners of the Global Challenge for Innovation in Corporate Governance:
\nYu Zhang, assistant professor of strategy at The Paul Merage School of
\nBusiness at the University of California, Irvine and Javier Gimeno,
\nprofessor of strategy at INSEAD in France. Their winning paper is
\ntitled “Earnings Pressure and Long-Term Corporate Governance: Can
\nLong-Term-Oriented Investors and Managers Fend off Short-Term Analyst
\nEarnings Pressures?”<\/p>\n
The Global Challenge invited the academic community to submit research
\npapers that applied emerging theories to develop innovative corporate
\ngovernance practices. Submissions were received from thirty seven
\ncolleges and universities, across 13 countries and six continents,
\nincluding Australia, Brazil, Canada, Ethiopia, France, India, Japan,
\nthe Netherlands, South Africa, Spain, Switzerland, the United Kingdom
\nand the United States.<\/p>\n
Papers were judged by leading corporate directors, corporate governance
\npractitioners and academics based on how effectively the ideas
\npresented could be implemented to enhance corporate governance and
\nresponsible investment business practices.<\/p>\n
“As leading practices in corporate governance evolve to keep pace with
\nchanging economic and regulatory environments, harnessing new ideas
\nfrom the academic community will aid boards in preparing for the
\nfuture,” said Ken Daly, president and CEO of NACD.<\/p>\n
In addition to cash awards, Zhang and Gimeno will be recognized at
\nNACD’s 2013 Spring Forum, where they will present their winning paper
\nto corporate directors and other business leaders. To learn about and
\nattend the NACD Spring Forum, please visit
\nwww.NACDonline.org\/SpringForum.<\/p>\n
“As a long-term investor we are in regular dialogue with companies
\nabout how they balance short term financial targets while building a
\nsuccessful business for the long term. I’m therefore pleased that the
\nconcepts presented in the winning paper provide us with practical
\ninformation to evaluate how companies might succeed in striking that
\nbalance,” said Richard Kushel, Senior Managing Director and Deputy
\nChief Operating Officer at BlackRock.<\/p>\n
About BlackRock<\/p>\n
BlackRock is a leader in investment management, risk management and
\nadvisory services for institutional and retail clients worldwide. At
\nMarch 31, 2013, BlackRock’s AUM was $3.936 trillion. BlackRock helps
\nclients meet their goals and overcome challenges with a range of
\nproducts that include separate accounts, mutual funds, iShares(R)
\n(exchange-traded funds), and other pooled investment vehicles.
\nBlackRock also offers risk management, advisory and enterprise
\ninvestment system services to a broad base of institutional investors
\nthrough BlackRock Solutions(R). Headquartered in New York City, as of
\nMarch 31, 2013, the firm has approximately 10,600 employees in 30
\ncountries and a major presence in key global markets, including North
\nand South America, Europe, Asia, Australia and the Middle East and
\nAfrica. For additional information, please visit the Company’s website
\nat www.blackrock.com.<\/p>\n
About NACD<\/p>\n
The National Association of Corporate Directors (NACD) is the only
\nmembership organization focused exclusively on advancing exemplary
\nboard leadership. Based on more than 35 years of experience, NACD
\nidentifies, interprets, and provides insights and information that
\ncorporate board members rely upon to make sound strategic decisions,
\nconfidently confront complex business challenges, and enhance
\nshareowner value. With more than 13,000 corporate director members,
\nNACD provides world-class director education, director training, and
\nproprietary research about leading boardroom and corporate governance
\npractices to promote director professionalism and bolster investor
\nconfidence. Furthermore, to create more effective and efficient
\ncorporate boards, NACD provides independent board evaluations and
\ncustom-tailored in-boardroom education and training programs, as well
\nas director-led conferences, forums, and peer-exchange learning
\nopportunities to share ideas about current and emerging issues.
\nFostering collaboration among directors and governance stakeholders,
\nNACD is shaping the future of board leadership.<\/p>\n","protected":false},"excerpt":{"rendered":"
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