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Quinn, David B.; Rowe, Colin

doi:10.1093/nq/11-3-119

Cited by 1 publication

(3 citation statements)

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“…167 It is estimated that Australia's new rules will force them to find 10,000 new directors to meet the independence requirements. 168 While United States and German companies can easily find a large number of potential independent directors, a New Zealand company might find this much more troublesome. Moreover, due to their smaller size, many New Zealand companies also require a board that is more involved in management, is knowledgeable in matters relating to the company, and is able to support the company as it grows.…”

Section: Independent Directorsmentioning

confidence: 99%

“…Moreover, due to their smaller size, many New Zealand companies also require a board that is more involved in management, is knowledgeable in matters relating to the company, and is able to support the company as it grows. 169 Having independent directors alone does not improve corporate governance. 170 It could be argued that the most important thing is to have the best directors on board, regardless of whether they are considered independent or not.…”

Section: Independent Directorsmentioning

confidence: 99%

“…Unlike in the United States, 183 where the chairman and CEO are frequently the same person, 184 the separation of both positions already is the norm in New Zealand. 185 Nevertheless, there should be clarification of this in the New Zealand principles.…”

Section: Separation Of Chairman and Ceomentioning

confidence: 99%

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New Rules for Corporate Governance in the United States And Germany - A Model for New Zealand?

Krackhardt¹

2005

VUWLR

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This paper surveys the possibilities for implementing new rules for corporate governance in New Zealand. It focuses on the new rules issued in Germany (the German Code of Corporate Governance) and the United States (the Sarbanes-Oxley Act). The paper analyses both to find out which rules might be appropriate for New Zealand. It is argued that New Zealand needs to adopt a code of corporate governance in order to keep up with international developments, otherwise it risks repelling local investors and failing to attract international investors. It is concluded that most importantly New Zealand should adopt a principles-based "comply-or-explain" approach rather than strict rules, as it offers greater flexibility. The paper further concludes that many of the rules issued in Germany and the United States could improve corporate governance in New Zealand and hence should be implemented.

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Section: Independent Directorsmentioning

confidence: 99%

Section: Independent Directorsmentioning

confidence: 99%