Corporate Governance Practices in US Initial Public Offerings

Corporate governance is in a state of unprecedented ferment. In response to pressures from shareholders and advisory groups, the governance practices of large companies have been steadily evolving over the past several years. However, a recent study by Davis Polk & Wardwell LLP found that these pressures have had only a limited effect on companies at the initial public offering (IPO) stage. Richard Truesdell, Jr. and Ning Chiu review the results.