Management consultant Peter Drucker once said that “what gets measured, gets managed.” He wasn’t joking. The biggest single reason for the growing strength of the corporate governance movement relates to improved disclosure, plus the development of technology capable of handling data.

In the old days, asset managers spent half their time sidling up to chief executives in the hope they would let slip a tasty piece of inside information. A quiet nod on the next profits statement was routine. Managers never dared to question chief executive pay for fear of biting the hand that fed them.