News and Media

July 6, 2020

IGOPP’s research on Stakeholders quoted in the Harvard Law School Forum on Corporate Governance

In his article published on July 3, 2020 by the Harvard Law School Forum on Corporate Governance Some Thoughts for Boards of Directors in 2020: A Mid-Year Update, Martin Lipton, a prominent New Yorker from the Wachtell, Lipton, Rosen & Katz, referred to IGOPP’s research on Governance and stakeholders co-written by the professors Yvan Allaire […]

July 2, 2020

Some Thoughts for Boards of Directors in 2020: A Mid-Year Update

The past six months have been marked by a profound upheaval that has accelerated the growing focus on both the purpose of the corporation and the role of the board in overseeing and leading the corporation in ways that promote sustainable business success. For a number of years, there has been a growing sense of […]

May 21, 2020

François Dauphin Appointed President and CEO of IGOPP

Montreal, May 21, 2020 – The board of directors of the Institute for governance (IGOPP) is pleased to announce that François Dauphin has been appointed president and CEO and director of IGOPP, effective June 1, 2020. He will succeed Michel Nadeau, who has been IGOPP’s Director General since it was created in 2005. Professor Yvan […]

January 29, 2020

Regulations to rein in short-sellers must not overlook the good they do

A thick hide is a necessary qualification for the job of activist short-seller. When Spruce Point Capital Management released a negative report on Canadian Tire Corp. Ltd. in late 2019, it prompted Yvan Allaire, the executive chair of the Institute for Governance of Private and Public Organizations, to fire back in the Financial Post: “What […]

January 17, 2020

Bombardier has a 50% chance of being in rail business in three years

Michel Nadeau, executive manager at the Institute for Governance and former deputy CEO at Caisse de dépôt, weighs in on Bombardier’s struggles. He says that while he believes the company will survive, it will be a much small corporation. He also says that there is a 50% chance that the Montreal-based business will still be […]

November 7, 2019

Carried Interest Warning From Court May Be Trouble for Treasury

A recent court case meant to clarify the definition of a corporation intensifies questions about the tax treatment of carried interest, a prized perk for private equity and hedge fund managers. The IRS argued for a broad definition of the term “corporation” in the case. But the legal issue that could come up in the […]

November 6, 2019

Mergers and acquisitions: Feds, activists disrupt US economic growth

By all indications mergers and acquisitions (M&A) activity is on the rise. In the first five months of 2019, companies announced over $1 trillion in mergers and acquisitions, a 14% increase from the same period in 2018. This is generally good for the economy, the consumer and the shareholders alike. In fact, all Americans benefit […]

October 24, 2019

Securities regulator to review share sale plans in wake of Bombardier controversy

Canada’s securities regulators are launching a review of automatic share sale programs after controversial trading last year at Bombardier Inc. led to calls for reform by investor rights advocates. The Canadian Securities Administrators (CSA), an umbrella organization for provincial securities watchdogs, said on Thursday it will examine whether automatic securities disposition plans place “appropriate constraints” […]

September 25, 2019

Unveiling of 2019’s laureates for the Yvan Allaire medal

Montreal, September 25, 2019 – The Royal Society of Canada has awarded the Yvan Allaire medal to Professor Anita Anand and Réal Labelle respectively Professor of Law and J.R. Kimber Chair in Investor Protection and Corporate Governance at the University of Toronto and Emeritus Professor at HEC Montreal. In partnership with the Institute for Governance […]

September 20, 2019

From Amazon to the Financial Times and Trudeau, the big push is underway to ‘reset’ capitalism

The old pink lady of Fleet Street made history of sorts this week, donning a yellow front page that contained a five-word declaration that it was pursuing a New Agenda. Despite its reputation and self-declared role as a defender of free markets, the Financial Times of London has frequently flirted with assorted compromises. But nothing […]

September 18, 2019

U of T’s Anita Anand awarded medal by Royal Society of Canada

Prof. Anita Anand of the University of Toronto’s Faculty of Law has been awarded the Yvan Allaire Medal by the Royal Society of Canada. The medal recognizes an individual’s outstanding contribution in the governance of private and public organisations, a statement from the university said. The RSC, in partnership with the Institute for Governance of Private and […]

August 23, 2019

Transat shareholders approve Air Canada takeover, deal now in regulators’ hands

The fate of Air Canada’s $720-million takeover bid for Transat A.T. Inc. rests with regulators after shareholders overwhelmingly approved the acquisition offer Friday. In a special meeting, shareholders of the Quebec-based tour operator voted 94.77 per cent in favour of accepting the $18-per-share transaction from the country’s largest airline. The deal will narrow the field […]

August 6, 2019

Damages of the short-term mindset

In March 2014, CEOs of many Fortune 500 corporations received a letter that started with these words: “We are preoccupied… that too many companies have cut capital expenditure and even increased debt to boost dividends and increase share buybacks. We certainly believe that returning cash to shareholders should be part of a balanced capital strategy; however, when […]

July 31, 2019

Finding Friends is Hard: Long-Term Investors’ Relationship with Proxy Advisors, Activists and Private Equity Funds

Institutional investors are howling for US public companies to focus more on the long-term.[1]  This is unsurprising. Long-term focused companies produce significantly better results over time, reporting far greater revenue growth with less volatility, far higher levels of economic profit, and greater total return to shareholders.[2] So if you are holding stock for a long time, a […]

June 18, 2019

Theory, Evidence, and Policy on Dual-Class Shares: A Country- Specific Response to a Global Debate

Dual-class shares have become one of the most controversial issues in today´s capital markets and corporate governance debates around the world. Namely, it is not clear whether companies should be allowed to go public with dual-class shares and, if so, which restrictions (if any) should be imposed. Three primary regulatory models have been adopted to […]

May 29, 2019

Judge rules SNC-Lavalin to stand trial on fraud, bribery charges

A Quebec judge has ruled that SNC-Lavalin Group Inc. can stand trial on bribery and fraud charges, prolonging the Canadian engineering giant’s legal pain and keeping the case in the public eye in the run-up to this fall’s federal election. Justice Claude Leblond of the Quebec Court ruled Wednesday that there is enough evidence to […]