The Perfect Corporate Board

The Perfect
Corporate Board

A Handbook for Mastering the Unique Challenges of Small-Cap Companies

New York: McGraw Hill, 2012

This book is the first of its kind resource created specifically for small-cap corporate directors. The Perfect Corporate Board addresses a long-standing void in corporate governance scholarship. Though nearly 80 percent of the public companies in the U.S. have less than a $500M market capitalization, corporate governance best practices have historically been one-size-fits-all.

As a result of one-size-fits-all governance practices, small-cap companies are routinely stymied by unique governance issues for which there has been no objective, practical guidance. Just as operating a $100 million company is a vastly different undertaking than operating a $100 billion company, governing the two different sized companies is different as well. By failing to collectively acknowledge this distinction, the historic one-size-fits-all approach to corporate governance has handicapped the biggest sources of American jobs – small-cap companies.

All of Adam's royalties from "The Perfect Corporate Board" are donated to Fisher House Foundation, which helps US veterans and their families.

In the News

“Attention, directors of small-cap companies. Help is on the way.” Paul Barrett, Bloomberg Businessweek

“Running a small business is a lot like owning a boat. The two best days are supposed to be the day you buy and the day you sell. That’s why Adam Epstein’s book, The Perfect Corporate Board (McGraw-Hill, 2012), is such a welcome addition to the governance literature. His book is written specifically for directors who oversee small-cap companies and their hardworking management. With more than 80 percent of all boards in charge of small-cap companies and the median U.S.-listed security at $450 million, Epstein has found a huge target for the improvement of board governance.” Jeffrey Cunningham, Directorship

“Epstein, a former hedge fund manager who advises small-cap boards, writes with the authority of an experienced investor in scores of micro-cap and small-cap companies, who has seen what can happen to companies with talented leadership and promising products, but which lack the kind of support from their boards that is uniquely needed by them.” Brett Goetschius, Growth Capitalist

“I’ve already recommended the book to the board of one small-cap I recently invested in and to the CEO of a start-up I am considering. I’ll be expecting some interesting discussions with directors at both firms in the coming year, thanks to what I learned from The Perfect Corporate Board. Don’t go public without it.” James McRitchie,

“I wish I had read The Perfect Corporate Board years ago. Adam only wrote it last year. That’s my only excuse – if you are on a small-cap board and don’t read this then you will have no excuse!” Julie Garland McLellan

“Adam has produced a first of its kind playbook specifically for — a neglected segment which happens to drive most of today’s job growth and innovation — small-cap companies.” The Perfect Corporate Board is “… a remarkable new book.” Dean DeBiase, Reboot Partners

“In a previous interview I did with the late David Thomson I asked him what he thought was the biggest deterrent to an emerging growth company’s success. To my surprise he said, ‘the corporate board.’ His response really got me thinking about why this is and why no one is really talking about it. Fortunately only a few months later, Adam Epstein wrote a great book talking about this topic as it relates to micro- and small-cap companies.” Ian Cassel, MicroCapClub

“… [T]his new gem of a book actually focuses on the part a young company’s board can play in teaching, prepping, and selling when it comes to capital and finance.” “… I urge you to add [it] to your post-Christmas shopping list.” Ralph Ward, Boardroom INSIDER

“If you are a director of a small-cap company, you need this book.” Karen Kane, Board Performance Specialists

The Perfect Corporate Board Book Reviews

“now there is an outstanding book — written by a genuine expert on the subject — which addresses this issue with stunning clarity and actionable advice”

“the Perfect Corporate Board is the perfect book”

“I have been advising companies, raising capital and writing institutional research for 22 years. How important do I consider this book? I have it marked up and regularly reference it for practically every company I work with”

“if there ever were a mandatory read for small-cap officers, directors and their advisors, this is the one”

“each chapter is peppered with juicy tips for negotiating with investors, communicating with shareholders, responding to critics and short-sellers, and navigating the gauntlet of investment bankers, investor relations firms, legal advisors and news media”

“the insights in this book can be applied to any size company, including private companies, venture backed companies, and even family businesses”

“Adam Epstein shines a timely, informative, and amazingly readable light on the complexities of small-cap corporate governance”

“this book highlights a few mistakes that I have made, and suffered the consequences of, but never realised until reading it what the mistakes were and how they could so easily have been avoided”

The Perfect Corporate Board becomes the go-to resource for the myriad challenges facing small-cap companies now and going forward”

“with the equity market ecosystem constantly evolving, and most small-cap companies having limited resources to navigate this changing landscape, The Perfect Corporate Board should be used by small-cap directors and executives as a primary reference source”

“finally a book that provides an excellent guide on how to navigate the challenges a small-cap board faces regarding the nuances of the public markets”

“a must-read for anyone in the C-suite or a Director at a newly public or small-cap company”

“a complete MBA course in Directorship”

“highly recommended for all prospective board members and C-suite managers in small-cap public companies, and for private companies looking to enter the public markets”

“offers an entirely unique perspective to the thousands of small-cap companies and boards”

“worth its weight in gold”

“is an absolute must-read for directors and executives in the small-cap public company space, and should also be read by any venture capital executive hoping to bring a portfolio company public”

“CEOs, board members, and other executives should read this book and refer back to it on a consistent basis”

“must read survival guide for small-cap CEOs and Directors”

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