Nobody downloaded yet

Corporate Structures and Governance Arrangements Vary Widely From Country to Country - Essay Example

Comments (0) Cite this document
Summary
'Corporate structures and governance arrangements vary widely from country to country.[b]ut the underlying issues of managerial accountability are the same everywhere' (Hampel Report 1998, pp. 17-18). Discuss. In so doing, explain the extent to which decision rights and appointment rights (selection and removal of directors) differ across jurisdictions…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.6% of users find it useful
Corporate Structures and Governance Arrangements Vary Widely From Country to Country
Read TextPreview

Extract of sample "Corporate Structures and Governance Arrangements Vary Widely From Country to Country"

Download file to see previous pages In normal parlance, the corporate governance (CG) has given more emphasis on disclosure, internal mechanisms and transparency with much focus to the financiers of the business. As per OECD (2004), this does not connote that the significance of stakeholders in general is deprived off1. Initially, Jensen and Meckling (1976) advocated stakeholder theory and then followed by Freeman (1984) who advocated an agency concept of accountability. Enron scandal resulted in the introduction Sarbanes-Oxley Act of 2002 which is a chief chapter in the vibrant annals of Anglo-American corporate governance renaissance2. As per OECD, managerial accountability elucidates governance responsibilities and roles and to make sure that shareholder’s interest and managerial interest are lined up and supervised by the board of directors3. The term “ managerial accountability “ can be defined as an understanding of a cluster of desired and predetermined yardsticks by which employees and management alike, which can be gauged to be held responsible for specific actions or decision vis-a-vis some clearly explained role or responsibilities in a company4. As per Fisher(2004), the managerial accountability is nothing but the delegation of power which means of integrating relationships between institutions , demarcating responsibilities , improving legitimacy , controlling authority , and finally promoting democracy within a company and thus , the main goal of developing accountability is establishing trust in governance institutions in companies. In UK, the Cadbury Committee was asked to review those features of corporate governance especially pertaining to financial reporting and accountability as early in May 1991. This research essay will analyse in detail how the managerial accountability remain the same under corporate governance across various jurisdictions with particular emphasis to the USA , UK and Germany. Analysis What is Managerial Accountability? Stanton (1997) refers Rosenfield finding on accountability as “the reasonable holding of one to be liable for personal decisions or to make a rejoinder to a charge where justiability is being ushered by an authority affiliation between the individuals concerned. From two perspectives, the authority relations can be assessed by two angles namely the stakeholder’s theory and the shareholder-value maximisation theory. As per Spira (2001), business organisations and individuals are discharged of their responsible obligations by disseminating the required information on a periodical basis to interested parties5. Business accountability connotes making the management of a company accountable for its performance and it includes making of business decisions on the proper usage of executive authority. Such business judgment can be employed only when the specific information is available. Further, accountability makes certain that the demeanour is compatible with the objects of the business, that it is consistent with the conditions that steer the company’s policy. In a way balancing the impact of the open market, which sets out prices and evaluates the real margin, a system of accountability offers objective yardsticks for administers and consulting performance. To evaluate the managerial accountability, it is necessary to assess the individual performance periodically whether it is the individual director, CEO, the outside auditor, the entire board or its officers and ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Corporate Structures and Governance Arrangements Vary Widely From Essay”, n.d.)
Corporate Structures and Governance Arrangements Vary Widely From Essay. Retrieved from https://studentshare.org/law/1441207--corporate-structures-and-governance-arrangements
(Corporate Structures and Governance Arrangements Vary Widely From Essay)
Corporate Structures and Governance Arrangements Vary Widely From Essay. https://studentshare.org/law/1441207--corporate-structures-and-governance-arrangements.
“Corporate Structures and Governance Arrangements Vary Widely From Essay”, n.d. https://studentshare.org/law/1441207--corporate-structures-and-governance-arrangements.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Corporate Structures and Governance Arrangements Vary Widely From Country to Country

Country music

...? Evaluation Essay Evaluation Essay The evolution of country music over the past decades has become something worth noting. It is obvious that it is no longer the sort of music affiliated with the old folk, or people from a certain area. It is this development that has led to the international recognition of some artists in this field of music. Darius Rucker is one such artist. He was first recognised due to the role he played in a band from South Carolina called the Hootie and Bowlfish. It was through this band that he became famously known as “Hootie”. In the late 1900’s, the band sold over a million copies of their album and became some of the country’s favourite country music band...
2 Pages(500 words)Essay

Country brand

..., that is the People and Governance. This is because the paper is fashioned to focus on matters of Nation Branding that are relevant to the creation of value for American corporate entities on the global level. Elements of Nation Branding In order to analyze the strategy of branding America, there is the need to explore the main elements of nation branding strategy. Olin defines a 7 step model that must be followed to draw a nation branding strategy (Molianen & Rainisto, 2009): 1. Define Preliminary Vision 2. Establish a Working Group 3. Internal & External Research 4. Formulation of Strategic Plan 5. Visualisation 6. Implementation of the Plans 7. Testing Implementation & assessment Preliminary Vision...
8 Pages(2000 words)Essay

Corporate Structures and Governance Arrangements

..., there is a centralized structure with the role of strategic decision making left to the top management leaders, which is the best for solving very simple problems. This system is very common among the small corporate and mostly communication is done on one-on-one basis. Though, it lacks a fundamental role, that is, standardization of roles and responsibility, the consequences of this structure on managerial accountability is that it helps the strategic director to influence and control development and growth of the corporate organization2. How Appointment Rights and Removal Rights Differ and Their Consequences Having looked at the Hampel Report, one comes to consensus...
16 Pages(4000 words)Coursework

Country Profile

...Arap Moi took over the country from 1978 until 2002 when a new political revolution led by the current president Mwai Kibaki won the election took over. In 2007 there was a massive ethnic unrest and political violence after different political parties accused the current president of rigging the election, this led to approximately more than 1000 people being killed and more than 60,000 displaced in the ethnic violence that was the aftermath of the flawed election. President Mwai Kibaki is expected to hand over the presidency in 2013. STRUCTURE OF GOVERNMENT Kenya is a democratic republic in the sense that the president is both the head of state and also he is the head of the...
5 Pages(1250 words)Research Paper

Country Inventory

...? Country Inventory Research Paper – Scotland Country Inventory Research Paper – Scotland Physical Geography Scotland, a member of the Great Britain nations, is situated in the northern part of the Great Britain. The country borders England, the North Sea and the Atlantic Ocean. The country covers an area of 78 772 kilometers squared. Scotland has three distinct regions that include the Highlands, the Central Lowlands and the Southern Uplands. The country is rich in traditional culture, as well as the modern culture. The country boasts a variety of religions, which include Christianity, Islam, Judaism and Buddhism, with Christianity being...
4 Pages(1000 words)Essay

Collaborative governance arrangements. Background of collaborative governance

...fighting back to put together actually effectual, reliant associations in between the partitions of the schooling, robustness as well as the wellbeing services along with those whom they seek out to serve up, predominantly those affliction the furthermost shortcoming. The kinds of physical condition in addition to the wellbeing tribulations the country presently faces , on the other hand, like that of tumbling corpulence or else the call for retraining belatedly within the adult being, the ones that have needed of, a lot more efficient relationships involving the examination along with the consumers than ever before. There is increasing substantiation that as a minimum a few third-sector...
9 Pages(2250 words)Essay

Structures of International Governance

...by every country that signed to the implementations of the goals. In fighting poverty, the goals are also meant to reduce the rates at which individuals are suffering from deadly diseases like tuberculosis, malaria and HIV/AIDS. The main goals of reducing the spread of such infections are by educating the general public on the preventive measures. Since the implementations are very expensive, then the developing countries have received funds to ensure that awareness of such diseases is spread to all people (Karsten, 2000). The biggest challenge of ensuring that the projects are implemented is corruption in the government sector that deals with the funds. These issue posses as a great...
8 Pages(2000 words)Essay

North Country

...North Country Film Analysis North Country was, unarguably, one of the best films released in 2005. It was a story about a woman, Josey Aimes, who, inher desire to secure a good life for her children, opted to work as a miner because it was the only viable job available in town that could help her with her dreams. The film was based on the story of Lois Jenson, a miner who has filed the very first class-action lawsuit for sexual harassment case in the United States, as she worked in a Minnesota mining company. For critics, the film revealed the yet again excellent performance delivered by Charlize Theron for the lead. However, an underlying issue in this positive feedback was the equally superb characterization of the other roles... her own...
4 Pages(1000 words)Essay

Country cultures

...28/09 Country cultures The work of Geert Hofstede continues to be analyzed in the manner in which he approached country cultures. According to Hofstede, “culture is a source of conflict than synergy; cultural differences are a nuisance at best and more of a disaster” (Hofstede 12). Organizations are turning their focus on global virtues in order to enhance teamwork among employees as a means of realizing success. Hofstede gathered and analyzed information from different cultures and made conclusions using similarities and differences which enabled him come up with the five dimensions of culture. He conducted his research amongst employees of IBM which he believed had a national representation of all...
2 Pages(500 words)Essay

Country Analysis

...Country analysis: Leadership style in France A leadership style study has derived its motivation from worldwide search for leadership style (Dickson et. al 2003). As much as other leadership competencies present a worldwide flavour, empirical studies should validate the proposition. There are two most commonly used styles of leadership in France that include transformational and charismatic leadership styles. Charismatic style As much as at times equated to transformational leadership style, charismatic involves an attribution element on the part of followers as they imagine a leader sacrificing and incurring costs while trying to accomplish the championed vision (Yulk 2006) that distinguishes it from transformational....
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Corporate Structures and Governance Arrangements Vary Widely From Country to Country for FREE!

Contact Us