The crisis in corporate governance

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Chapter 7 in The Crisis of Governance, 2023, pp 136-156 from Edward Elgar Publishing

Abstract: Corporate governance refers to how companies and other corporate entities run themselves but has been problematic in recent years. Two cases are used to illustrate the crisis. Some individuals in the governance structure opted for expedience and accountability mechanisms apparently failed. The first case involves the Boeing aircraft company and its attempt to build an upscaled version of its best-selling 737 aircraft. Two 737 Max aircraft crashed. No-one set out to build an unsafe aircraft but it happened anyway, with Boeing's corporate governance less than desirable. The second case concerns an attempt by Volkswagen to bypass laws about fuel emission standards involving diesel passenger vehicles via a 'defeat device' to detect when an emission test was being conducted. A crime was committed and spiralled into a real threat to the company's existence again with poor corporate governance largely at fault. Most companies are well governed but not all.

Keywords: Business and Management; Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
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