Development of Corporate Governance Standards in UK: The Higgs Report

M. Gracheva

Voprosy Ekonomiki, 2004, issue 1

Abstract: In 2001-2002 numerous scandals have occurred in developed countries in connection with financial reports' distortions and breaches of good corporate governance principles. As a result, regulatory bodies began to study the role of boards of directors in preventing such cases, putting an emphasis on the duties and powers of non-executive directors. Serious steps have been taken in United Kingdom, where the first corporate governance standards were established in the beginning of the 1990s. The article analyses the document published in January 2003 — the review of the role and effectiveness of non-executive directors prepared by D. Higgs team. The author considers the peculiarities of the British corporate governance system and examines most important provisions of the Higgs report.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2004:id:1848

DOI: 10.32609/0042-8736-2004-1-118-128

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