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Corporate Governance, Reporting, and Regulation - Term Paper Example

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The paper "Corporate Governance, Reporting, and Regulation" names the main function of the independent director - protecting the stakeholders’ interests. But his presence would not have any impact on the firm’s performance if he is not efficient and the other factors causing the corporate governance are not managed efficiently.
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Corporate Governance, Reporting, and Regulation
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Download file to see previous pages The appointments of independent directors are mainly done from the point of view of better corporate governance and enhancing the independence of the company board. The independent directors are also appointed in order to have some added benefits in terms of additional knowledge and experience which would be useful for achieving better results by the company. There has always been a debate about the relevance of the independent directors in improving the performance of the company. This project is an attempt to identify and analyze the relevance of the independent directors in improving organizational performance. The paper discusses the extent to which the appointment of an independent director can influence the performance of the company and whether the independent director can improve the performance of the company or not. The meaning and the reasons behind the appointment of the independent directors have been studied and discussed in order to have an idea about the independent directors moreover the role and responsibilities of the independent directors have also been analyzed to assess the independent director’s scope in improving the organizational performance.   Independent directors
The executive directors are employed by the company, therefore, the company has control over them. The concept of the independent director came from the thought of having someone on the board who would think only for the betterment of the company without being influenced by someone. Thus the decisions taken by such a person would be unbiased and free of any personal interest. Hence the independent director would be someone who cannot be controlled by the company or its management and could not interfere in the work of the independent director. Hence an independent is a director who was not an employee of the company or any of the related parties of the company in the last five years. The independent director should not be the company’s advisor or should not have any contract of personal service where the company or any of its related members is a party to such contract.  ...Download file to see next pagesRead More
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