Corporate governance vs. crisis of company

P. Moulis
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P. Moulis: Czech University of Agriculture, Prague, Czech Republic

Agricultural Economics, 2003, vol. 49, issue 6, 275-277

Abstract: There is a lot of available investigations in the area of company crisis reasons problems nowadays. These inquiries were summarised into the indicators of company crisis reasons. The development and level of these indicators is not possible to consider to be company crisis reasons but above all to be its manifestation. The veritable reason of crisis is the absence of effective control mechanisms in the company, especially of the "natural" control mechanisms. The natural control mechanism means such as rises from the substance of joint stock companies (respectively legal rules of joint stock company). There is a presumption of control activities interaction among the General Assembly, Supervisory Board and Board. Control mechanisms work on the common economic principles' base in this sense and it means that the owner is considered to be the primary managing element and the management acts as the derivative managing element. The assumption of effective economic principles functioning is the existence of standard variable of these relations i. e. the existence of relevant interests.

Keywords: company; crisis; corporate governance (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:caa:jnlage:v:49:y:2003:i:6:id:5386-agricecon

DOI: 10.17221/5386-AGRICECON

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