the corporate governance lessons of enron
The Corporate Governance Lessons from the Financial Crisis docx
... and then considers the responsibility of the board and why its oversight appears to have failed in a number of cases. Other aspects of the corporate governance framework that contributed to the ... adequacy of its corporate governance principles in these key areas. * This report is published on the responsibility of the OECD Steering Group on Corporate Governance which agreed the report ... 2008 1 The Corporate Governance Lessons from the Financial Crisis Grant Kirkpatrick * This report analyses the impact of failures and weaknesses in corporate governance on the financial...
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Study on corporate governance index of Vietnam commercial bank – the case of a newly established, medium to large joint stock commercial ban
... Conclusion CGI of the bank is found to be able to reflect corporate governance of the bank. Component score of disclosure and transparency better reflects actual situation of the bank. However, ... be used to test the appropriateness of this CGI. The results show that corporate governance index is able to reflect actual corporate governance situation of the bank and in line with its rank ... influenced by the management style of a market economy after privatization. The bank is a medium to large joint stock commercial banks in Vietnam. For these reasons, corporate governance of the bank...
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daily et al - 2003 - corporate governance decades of dialogue and data
... rolesfurther highlights the importance of incorporat-ing alternative theoretical perspectives in future corporate governance research.One of the greatest barriers to advancing the field of corporate ... effectiveness of the corporate gover-nance system, from the perspective of share-holders, since the effectiveness of concentratedownership is largely dependent on the effective-ness of the legal ... boards of directors and firm performance. They suggest areconceptualization of the traditional treatment of boards of directors within the agency theoryframework.Agency theorists present the...
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Tài liệu Corporate Governance Best Practices - A Blueprint for the Post-Enron Era docx
... of the corporate governance- related functions of the chief executive, general counsel, corporate secretary, head of investor relations and other corporate officers, therebyallowing these officers ... andamongst the board of directors of an issuer for the pur-pose of overseeing the accounting and financial report-ing processes of the issuer; and audits of the financialstatements of the issuer.” The ... performance evaluation of the committee.24 Corporate Governance Best Practices: A Blueprint for the Post -Enron Era The Conference BoardRole of the Nominating /Corporate Governance CommitteeCompanies...
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university of chicago press a history of corporate governance around the world family business groups to professional managers jan 2006
... voting control over much of the German large corporate sector. The Reich then took control of the banks.Following the war, the banks were privatized, but the Nazi innovations of stakeholder rights ... whoused small blocks of super-voting shares to hold together their vast py- The Global History of Corporate Governance: An Introduction 23 portance at the middle of the century. They suggest that ... the corporate governance of those firms, and conclude (p. 2193) that the separation of ownership and management is thus an indication of a su-perior corporate governance environment. The lack of...
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Corporate Financing and the Six Lessons of Market Efficiency ppt
... The spread between the two ($0.11) is revenue for the broker. In the U.S., at that time, a bid-ask spread of 1/8($0.125) was not uncommon. The ‘profit’ of $15 million reflects the size of the ... all.) Whether the dealer knows everything about the particular bond makes no difference. The market has the information and that information is reflected in the price. Therefore, the cost of ‘lemons’ ... stability after the announcement reflects the market’s opinion of the nature of the assistance and its likelihood of success.3. Internet exercise; answers will vary.130 b. To make the example...
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benston et al - following the money; the enron failure and the state of the corporate disclosure (2003)
... enacting most of them,and others, in the Corporate Responsibility Act of 2002. Policymakers were not the only ones to take quick action in the wake of the scandals. The major stock exchanges the New ... years ago, the American system of cor-porate disclosure the combination of accounting andauditing standards, the professionalism of auditors, and the rules and prac-tices of corporate governance ... ensure the timely dis-semination of relevant and accurate corporate financial information—waschampioned as a model for the rest of the world. In the aftermath of the Asian financial crisis of 1997–98,...
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thang nguyen ngoc - 2011 - corporate governance and its impact on the performance of firms in emerging countries - the evidence from vietnam [cg]
... practices. The ROE of companies with better corporate governance at an ROE of 23.5%, compare with the companies with lower corporate governance with ROE of 16.6%. The results of the ROA ratios ... further poor governance practices. In Vietnam, there have been a number of company scandals from corporate governance failures and malpractices. They have included some of the largest corporate ... of the total market capitalization of these exchanges. The companies were assessed against the five key areas, which are recognized by the OECD Principles as the keys to good corporate governance: ...
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xie et al - 2003 - earnings management and corporate governance - the role of the board and the audit committee
... 297mergers inflate their earnings prior to the merger in order to inflate their stock price andthereby reduce the cost of the merger.Other studies have examined the incentives of managers to manipulate ... Xie et al. / Journal of Corporate Finance 9 (2003) 295–316306Finally, we show that the log of book value to total assets, the log of sales, and the log of the market value of equity are significantly ... directorcharacteristics. Outside directors can be corporate, finance, legal, or blockh older. Weinclude the proportion of these directors of the total board. Of these variables, only the corporate director coefficient...
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lin and liu - 2009 - the determinants of auditor switching from the perspective of corporate governance in china
... corporate governance structure, the board of directors must ensure that the management acts in the best interests of the shareholders. The board of directors isresponsible for execution of the ... As there were new requirements in the Standard Code of Corporate Governance during the testperiod, we incorporate the third group of interactions vari-ables to capture the yearly impact of the ... importantdevice of corporate governance in China. Chen (2005) findsthat there is a positive association between the size of the supervisory board and the level of corporate governance, suggesting...
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lin and liu - 2010 - the determinants of auditor switching from the perspective of corporate governance in china
... adopt the number of SB members as a proxy for the monitoring strength of the SB. The fewer SB members a listed firm has, the weaker the internal corporate governance is, vice verse. Therefore the ... researchers, and government of cials gradually accept the view that the best practices of corporate governance require the separation of the roles of CBoD and CEO. Such a corporate governance device has ... purpose of “opinion shopping”in order to mitigate the negative impact of the unclean audit report on the firm's stock price in the market, and on the self-interests of the management or the...
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