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What is corporate governance?
Corporate governance is the framework of rules, policies, and procedures by which determines a corporation’s overall direction and performance. It typically takes into account the corporation’s various financial legal, regulatory, institutional, and ethical responsibilities to its various stakeholders.
Who oversees corporate governance?
The board of directors typically is the topmost authority on a corporation’s governance. For the board, corporate governance becomes the playbook by which it is expected to perform its duties.
What is good corporate governance?
In the United States and the United Kingdom, the principles of good corporate governance include: a board that is independent and not beholden to the CEO or management; a board whose members represent a diversity in age, experience and background; an organizational commitment to long-term planning and vision; a dedication to common accounting standards; a high level of disclosure and transparency; and an ongoing dialogue between the board, senior management, and all other stakeholders.
Is there just one kind of corporate governance?
No. The good corporate governance principles described above stem from the “Anglo-American” model of corporate governance, which emphasizes the interests of shareholders. The coordinated model of corporate governance, which is prevalent in Continental Europe and Japan, emphasizes the interests of employees, suppliers, customers, and the community.
The Filing Cabinet Blog CEOs pledge ‘commonsense corporate governance principles’Joe Mont | October 30, 2018CEOs of 20 leading public companies, pension funds and investment firms have signed onto a continuing effort intended to “jumpstart a national conversation on corporate governance.”
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News Article Even as regulations vaporize, corporate governance takes hold globallyJoe Mont | March 27, 2018A new report says the lure of cross-border investors is doing as much to demand corporate best practices as government rule regimes.
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News Article Carillion: compliance without complyingPaul Hodgson | February 6, 2018The Carillion collapse illustrates once again that compliance with the U.K. corporate governance code does nothing to prevent bad actors from making bad decisions.
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News Article U.K. corporate governance reformsNeil Hodge | September 12, 2017Neil Hodge explores the government’s corporate governance reform proposals relating to executive pay; strengthening the employee, customer, and supplier voice; and large, privately held businesses.
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News Article The Financial Reporting Council makes its case for broader powersNeil Hodge | April 18, 2017An influential committee of Members of Parliament has recommended a wide-ranging series of changes aimed at boosting the powers of the U.K.’s corporate governance regulator.
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Global Glimpses Blog ICSA initiates governance sea changePaul Hodgson | February 24, 2017A call to overhaul the U.K. board governance system involves an unlikely alliance of organizations that underscores just how badly some camps want change. Paul Hodgson has more.
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Global Glimpses Blog Asian corporate governance codes unlockedPaul Hodgson | February 13, 2017The corporate governance expectations across Asia are both more widely varied, and in harmony with each other, than one might expect. But there is still a great deal of information to track. Paul Hodgson gets into the details.
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News Article FRC spells out governance flaws and bids for more powersNeil Hodge | February 7, 2017The Financial Reporting Council has published its annual report on corporate governance, and it looks as if boards need to do more to improve their corporate governance and reporting practices, writes Neil Hodge.
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The Filing Cabinet Blog SEC’s investor advocate details 2017 prioritiesJoe Mont | December 22, 2016With a focus on disclosure, corporate governance, and exchange listing standards, the SEC’s Office of the Investor Advocate has unveiled its work plan for 2017. Joe Mont has further details.
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News Article Slowly but surely, global governance practices are convergingJoe Mont | December 13, 2016The United States and European Union don’t have a monopoly on corporate governance. A new study looks at how best practices are converging around the globe. Joe Mont reports.
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