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Corporate Governance

Pasture is not a large corporation in any sense. But we still have three rules of corporate governance:

Rule 1: We eat our own cooking -- We do not obtain any management fees from our shareholders.   

Rule 2: We practice what we preach -- We will not ask prospective shareholders to invest with us and then put our money elsewhere. We want to make money only when our shareholders do and in the same proportion. When we lose money, we want shareholders to know that our financial loss is proportional to theirs.

Rule 3: Investment mistakes are better than dishonesty -- We prefer to disappoint you by our mistakes in investment than to mislead you by creative accounting methods.

Pasture pays close attention on corporate governance on listed companies: 

1. Executive compensation

2. Stock option issuance

3. Accounting clarity and frequency of "one-time" charge-offs

4. Director independence

5. Related-party transactions

6. Insider ownership

7. Poison pills and other (so-called) shareholder-right plans

8. The overall shareholder friendliness of the company

 International Corporate Governance Network      Euroshareholders 

Cadbury report on corporate governance     Corporate Social Responsibility

The Hong Kong Institute of Directors       Investment Company Institute   

Disclosure of Interests      Code on Unit Trusts and Mutual Funds

The Hong Kong Institute of Company Secretaries

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