In today’s briefing:
- Rather than “Technical Guidance,” What Is Needed Is Thorough Fiduciary Duty to Shareholders
Rather than “Technical Guidance,” What Is Needed Is Thorough Fiduciary Duty to Shareholders
- While very few companies allocate cash appropriately, many companies simply announce small-scale share buybacks, resulting in cash being used in a half-hearted manner for both growth and shareholder returns.
- The problem is that many managers lack awareness of their fiduciary responsibility to make sincere decisions on cash allocation based on the idea that free cash flow belongs to shareholders.
- Even for listed companies, the time has come to discuss the role of managers who are unable to thoroughly fulfill their fiduciary duties to shareholders.
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