Governance and management Defining corporate governance - stakeholder Corporate governance is the process by which corporations are made responsive to the rights and wishes of stakeholders Demb and Neubauer, 1992 The primary participants are the shareholders, the management and the board of directors Monks and Minow 2001 The corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization – such as the board, managers, shareholders and other stakeholders – and lays down the rules and procedures for decision-making OECD 2002 Tricker: Corporate Governance 2e Governance and management Defining corporate governance ᾶ relationship is the relationship among various participants in determining the direction and performance of corporations. Governance and management Defining corporate governance ᾶ operational Corporate governance is the process by which companies are directed and controlled Cadbury Report 1992 and OECD 1999 Operational relationship stakeholder financial economics societal Governance and management Definitions of corporate governance Definitions vary according tot the perspective of the user – – – – – alternative board structures Tricker: Corporate Governance 2e.the performance and conformance aspects of governance.the difference between governance and management.
the significance of constitutions for corporate entities.Governance and management in which we recognise: Corporate Governance – Principles, Policies and Practices 2e Chapter 2 Governance and management
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