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Time: 6 hours
Level: Masters
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 Introduction Resource- The topic of ‘governance’ is one that has gained popularity, and the term is now used to embrace a range of concepts. This unit establishes some basic principles that will form the basis of your study....
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| | 1 What is corporate governance?
- 1.1 Definitions Resource
- The need for corporate governance arises out of the divorce in modern corporations between the rights of shareholders and other suppliers of capital on the one hand, and the operational control, which...
- 1.2 Conclusion Resource
- The annual financial reports commonly contain a statement on corporate governance, so it is useful to have an awareness of what this involves. This has important implications for interpreting the financial...
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| | 2 The drivers of corporate governance rules
- 2.1 Introduction Resource
- In this section we are going to review the different needs that drive the creation of corporate governance frameworks. The contingent model of regulation applies to financial reporting: the idea that equilibrium...
- 2.2 Recent governance failures Resource
- As we have discussed before, the creation of corporate regulation is often linked to perceived failures of corporations and their management to behave in the way society expect them to. Corporate governance...
- 2.3 Capital markets Resource
- In so far as better corporate governance has the objective of enhancing shareholder control, it should follow that companies with better corporate governance will attract investors and will reduce their...
- 2.4 Shareholder activism Resource
- Shareholder (investor) activism can also force better corporate governance. Historically, individual shareholders, whether institutions or private persons, have had little chance of influencing the board...
- 2.5 Rating agencies: corporate governance indices Resource
- A number of rating agencies, including credit rating agencies, have developed indices to measure corporate governance performance. Among the more well-known indices are FTSE-Institutional Shareholder Services...
- 2.6 Conclusion Resource
- In this section we have looked at the different ways in which expectations about corporate governance have grown. We have briefly reviewed the role of corporate scandals as a generator of regulatory responses,...
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| | References and Acknowledgements | |
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