Contact Us
Sign In / Sign Up for FREE
Go to advanced search...
Nobody downloaded yet

Corporate Governance: The OECD Principles of 1999 - Term Paper Example

Comments (0) Cite this document
"Corporate Governance: The OECD Principles of 1999" paper focuses on these principles which were set up before the corporate scandals such as Enron occurred, which rocked the world. These comprise a general set of principles that comprise the best practice that can be used to ensure governance. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
Corporate Governance: The OECD Principles of 1999
Read TextPreview

Extract of sample "Corporate Governance: The OECD Principles of 1999"

Download file to see previous pages The OECD report applies mainly to those corporations whose stock is publicly traded rather than to private corporations. However, the King Report on corporate governance that was put forth in 2002 takes into account the corporate scandals that have occurred. Therefore it focuses on corporate governance within individual firms and includes the scope of Director responsibilities and duties of the Board. It also allows for the impact of technology and its impact on corporate governance. Therefore, while the OECD approach is broad-based, the approach is company-specific in the King Report. Moreover, the OECD report does not take into account individual director responsibilities or the impact of technology like the King report.

The first King Report on Corporate Governance was published by the King Committee in 1994. This report advocated an integrated approach to corporate Governance in order that all stakeholders are benefited. However, the changes in the global economic environment and legislative framework resulted in the revision of the King Report to generate an updated version in 2002. The OECD principles, on the other hand, aim to generate a set of principles on corporate governance that can be universally applied across countries. These principles were first developed in 1999 but were later revised in the wake of corporate scandals such as Enron that revealed the need for increased corporate responsibility doe to the accounting irregularities that were revealed. The changes that have occurred have sought to expand the objective of good governance from being a solely profit-motivated one to one that also includes corporate sustainability and responsibility to the community, consumers, and suppliers of a corporation.

The OECD principles of corporate governance set out an international benchmark that governments and regulators can follow. ( These standards of corporate governance comprised the first effort to develop an international standard including codes for good corporate governance that would hold good across all countries. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Corporate Governance: The OECD Principles of 1999 Term Paper - 1, n.d.)
Corporate Governance: The OECD Principles of 1999 Term Paper - 1.
(Corporate Governance: The OECD Principles of 1999 Term Paper - 1)
Corporate Governance: The OECD Principles of 1999 Term Paper - 1.
“Corporate Governance: The OECD Principles of 1999 Term Paper - 1”.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Corporate Governance: The OECD Principles of 1999

Corporate Governance

... Task Corporate Governance Introduction For quite some time, businesses or firms have been practicing merging or simply acquiring other businesses. This is achieved by having the acquiring company maintain its name while the other company’s name is eliminated. Likewise, the two companies have to set rules of engagement that will ensure that they both operate in a manner that serves both of them well without any unfairness. The rules may be touching on both the firms themselves or their customers. This may be because of taking over of one company by another, buying out of one company by another or simply taking over another company. This is done with the main of financial gains or even avoiding making losses. Therefore, the work below looks...
4 Pages(1000 words)Essay

Corporate governance

..., control, coordinate the business in terms of managing the assets, processes and systems within the organizational setting (Pounds, 2008, YouTube video). Corporate governance is the legal as well as organizational framework, or certain principles and processes by which corporations are governed. Corporate governance thus relates to powers, accountability and relationships of those people who are involved in the direction and controlling of the corporation (Plessis, Hargovan and Bagaric, 2010, p. 4). As Tricker (2012, p. 4) pointed out, all different types of corporate entities need governing body. For a company, the governing body is its board of directors, and for other types of business firms, it may be a council, a court, a committee...
3 Pages(750 words)Essay

Principles of Good Corporate Governance

...?Principles of good corporate governance Ms Novita Ikasari Executive of the Australian Local Network PO Box 123 Bentley WA 6004 Dear Ms. Ikasari, This letter contains our recommendations to the Local Network to encourage compliance with the Global Compact principles: three "Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining" and ten "Businesses should work against corruption in all its forms, including extortion and bribery". Corporate governance is a term which refers to a set of principles, regulations, policies or laws established by a company to determine the manner in which it operates in the industry, has today, become one of the hottest topics in the contemporary...
4 Pages(1000 words)Essay

Corporate Governance

...://> Keasey, K, Thompson, S & Wright, M 1997, Corporate Governance: Economic, Management, and Financial Issues, Oxford University Press, New York. “OECD principles of corporate governance’, 2004, OECD: Organisation for Economic Co-operation and Development, OECD Publications, Viewed 18 Aug 2011, Roberts, J 2011, ‘The theories behind corporate governance’,, Viewed 18 Aug 2011, ‘Review of the impact of the combined code’, 2007, Corporate Governance Annual Review, Pensions...
6 Pages(1500 words)Coursework

Corporate Governance

... and other stakeholders. It provides the structure through which the objectives of the company are set, the means of attaining these and monitoring performance are determined’ (OECD, 1999, 1). This definition captures the entities of all who are involved as well as the working relationships among them with respect to the functions and responsibilities of corporate governance. The Need and Importance of Corporate Governance Quite simply, the stakeholders of a corporation-whether they be debtors, creditors, suppliers or distributors- as well as the general public would love to do business with a corporate entity or buy its products and services if they know that the management and the employees are a well reputed group and they can rely...
6 Pages(1500 words)Coursework

Corporate Governance

Translating theory into practice takes diverse and dynamic approaches. This is because organizational operations, strategies, goals, and objectives differ from one organization to another. For this reason, the operationalization of Kohlberg’s model within an organization requires a strategic approach. On the same note, the taken approach must be aligned and consistent with organizational short term and long term prospects. The practice of Kohlberg’s model would, therefore, require managers to be sensitive to the organizational culture and operations in play.
To start with, managers do not necessarily have to implement every aspect of Kohlberg’s model. This is because some of the aspects of Kohlberg’s mo...
8 Pages(2000 words)Literature review


...Corporate Governance Roll No: Teacher: 16th April 2009 This paper compares and assesses the extent to which the recommendations and principles of corporate governance have been implemented in the United Kingdom and the United States of America. It specifically assesses the effect of corporate governance implementation on controlling director activity and ensuring they make appropriate disclosures. The introduction section gives general principles and concepts about corporate governance. The main body of the paper carries out a comparison of the UK and the US corporate governance models. It is divided into smaller subtitles such as ‘corporate governance’ and ‘implementation of corporate governance principles and recommendations in the UK...
10 Pages(2500 words)Essay

Key Principles of Corporate Governance

The role of corporate governance has, therefore, become increasingly vital to the strategic management of the organization and projection of its aims and objectives in the eyes of the public and other stakeholders.
Corporate governance can be broadly defined as the creation of business environment within and outside the organization that would effectively meet the challenges of the time and improve and improvise the productivity of the performance outcome. The lack of effective controls vis-à-vis malpractices in accounts and auditing, security of confidential information, corrupt practices in the higher hierarchy of management, disparity in rules and regulation etc. have become crucial risks factors that have resulted in huge...
6 Pages(1500 words)Essay

Corporate Governance Principles

...Corporate Governance & Social Responsibility PART A QUESTION Corporate governance principles recommended to the Board based on the OECD (2004), Sarbanes Oxley Act (2002), Combined Code (2003) and the Australian Securities Exchange (2007) I would recommend the following specific principles: i. Every company should be headed by an effective Board which is entirely in fully focused on the performance and success of the company. (FRC, 2003). This is because for the extractive industry, the board will provide leadership both entrepreneurial and managerial, establish the corporate strategic aims, facilitate human and financial resources and look into performances in terms of management. The board should be able to draw company values...
8 Pages(2000 words)Assignment

Successful Leadership: Corporate Governance Principles and Recommendations

... of the leader who is responsible for the performance of enterprises. CQ 1: Assessment of ASX Corporate governance principles and recommendations against the six recommendations from the Cadbury Report and UK Combined code. 1. Separating the role of the CEO and chairman of the board 2. Establishing a formal process via the nomination committee made up of independent (non-executive) directors 3. Having a majority of board members as independent directors 4. The audit committee should exclusively comprise independent directors 5. There should be a formal, rigorous, and transparent process to select new board members 6. The audit committee should be responsible for monitoring the level of independence of the external auditors as well...
10 Pages(2500 words)Assignment
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 Term Paper on topic Corporate Governance: The OECD Principles of 1999 for FREE!

Contact Us