Setting the Scene

Neville Bain and David Band

Chapter 1 in Winning Ways through Corporate Governance, 1996, pp 1-19 from Palgrave Macmillan

Abstract: Abstract There is considerable disquiet in the community which is calling into question present practices of governance. Depending upon one’s perspective, the areas of discontent are clustered around the following: Low ethical and professional standards leading to poor performance and a loss of value in the various organisations. Double standards allowing practice to differ from stated ideals. Failures of commercial and non-profit organisations as a result of inadequate controls or unsatisfactory checks and balances. Inappropriate pursuit of short-term profit at the expense of either the longer-term or other stakeholders who are seriously disadvantaged. High rewards, apparently out of line with performance or with an appropriate peer group. A lack of transparency in remuneration practice. Tensions and frictions that arise from the different objectives of a management team which is separated from ownership.

Keywords: Corporate Governance; Pension Fund; Audit Committee; Audit Firm; Annual General Meeting (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14158-6_1

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DOI: 10.1007/978-1-349-14158-6_1

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