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Britain alone has produced 11, and its governance rules are the most advanced, says Stephen Davis of Davis Global Advisors, a governance consultancy (see chart).
"There was one message: if you think governance contributes to risk, stay away from high-tech America," said Stephen Davis, president of Davis Global Advisors, a governance consultancy.
In Europe, meanwhile, shareholders count themselves lucky if they even have a vote.A new study prepared for the Association of British Insurers (ABI) by Deminor Rating, a Belgian governance consultancy, highlights the weakness of European shareholder democracy.
Sarah Wilson, chief executive of the corporate governance consultancy Manifest, has said Britain's quantitative easing stimulus programme has been "printing money for CEOs" by boosting the economy and stock market.
Respected corporate governance consultancy Pensions Investment Research Consultants said it "approves of the 'one share, one vote' structure for companies' share capital, and generally disapproves of dual class stock structures which have varying voting and dividend payments rights".
Corporate governance consultancy PIRC said it "approves of the 'one share, one vote' structure for companies share capital, and generally disapproves of dual class stock structures which have varying voting and dividend payments rights".
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The Corporate Library, an American corporate-governance consultancy, last year identified 11 large and well known but poorly governed companies, including AT&T, Merck and Time Warner, where the chief executive had been paid at least $15m a year for two successive years even as the company's shares had underperformed.
In 1994, only 35% of votes were exercised; last year the figure was 55%, according to PIRC, a corporate-governance consultancy.
Penalise failure too harshly and "you risk creating bureaucrats," says Ira Kay of Pay Governance, an executive-pay consultancy.Bronze parachutes will doAbolishing all golden parachutes would be foolish.
Today, Pauline uses her experience to deliver governance, policy, training, development and consultancy services to the small charity sector through the FSI.
In 2012, a survey by corporate governance group Manifest and pay consultancy MM&K found that Ms Ahrendts was already the best-paid chief executive in the FTSE 350, taking home a total of £16.9m in salary and stock awards that year.
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