Good governance and the misleading myths of bad metrics
讨论公司治理中错误指标的误导性，指出改变治理结构未必改善经营业绩，且董事年龄增长未必损害判断力，质疑董事持股能促进良好治理的假设。
The article discusses aspects of corporate governance and bad metrics. Certain finance studies have suggested that even when shareholder activists have been able to change firm governance structures the changes have not translated into improvements in operating performance. There is no definitive research suggesting that increased director age leads to impaired judgment. One dimension or standard said to promote good governance is for directors to own significant amounts of stocks in their firms. The thinking is that directors with an ownership stake will have a heightened incentive to govern well.