Principles of Contemporary Corporate Governance

Abstract

Table ofcases xiv Table ofStatutes xvi Preface xxi PART ONE CORPORATE GOVERNANCE: AN OVERVIEW 1 The concept 'corporate governance' and essential corporate governance principles l 1.1 The meaning of corporate governance 1 1.1.1 Generally 1 1.1.2 Origins of the corporate governance debate and the stakeholder debate 3 1.1.3 Definition of corporate governance' 6

An examination of executive compensation in the restaurant industry

“…In general terms, corporate governance refers to a combination of processes, customs, policies, laws, and institutions by which companies are directed, administrated, and controlled (La Porta et al, 2000;Shleifer and Vishny, 1997). In the context of a company, corporate governance deals with balancing the interests of all parties in order to reach the maximum level of efficiency and profitability (Du Plessis et al, 2005). In fact, this debate dates back to Smith (1776), who foresaw the potential conflicts that can arise when the interests of a company's owners and managers are not aligned.…”

The Corporate Governance of Australian Listed Construction Companies

“…In the UK, the Combined Code (2003) emerged out of the Cadbury, Greenbury and Hampel reports and in the US, the Sarbanes-Oxley Act (2002) and revised NYSE listing requirements promoted stricter standards of corporate governance (NYSE, 2008;du Plessis et al, 2005). In Australia, the ASX Corporate Governance Council produced the Principles of Good Governance and Best Practice Recommendations (2003), implemented amendments to the Corporations Act (2001), and introduced the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act -CLERP 9 (2004) -which is essentially the Australian version of the Sarbanes-Oxley Act, strengthening the requirements of fi nancial auditing (Robins, 2006).…”

“…Du Plessis et al (2005;p.6) defi ned corporate governance as "the process of controlling management and of balancing the interests of all internal stakeholders and other parties (external stakeholders, governments and local communities) who can be affected by the corporation's conduct in order to ensure responsible behaviour by corporations and to achieve the maximum level of effi ciency and profi tability for a corporation". There are three contemporary trends that have promoted concerns with corporate governance standards, namely: the recent wave of high profi le corporate scandals, globalisation, and increased investor activism.…”

The governance of the Boscombe Artificial Surf Reef, UK

“…Yet despite its popularity and potential risks, there is minimal formal regulation of surfing activity (Nazer, 2004). Indeed, surfing remains regulated by norms rather than formal rules (Plessis et al, 2005). Norms can be described as a set of rules that are not legally enforceble but which are regularly complied with, which guide behaviour (Posner, 1997;Atkins, 2001;McGrath et al, 2000), and are primarily, if not exclusively, enforced by the parties themselves.…”