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International Financial Strategies - Essay Example
Finance & Accounting
Pages 12 (3012 words)
This research paper will critically analyse whether or not a global approach to regulate corporate governance would be effective. The study will also discuss the effects and benefits that this strategy may cause on multi-national companies…
The paper tells that the concept of corporate governance has undergone tremendous changes since its origin. Managements always pay attention to update their corporate governance strategy in accordance with the needs of time. The corporate governance policy also maintains the relationship between the stakeholders and the objectives of the organisation. Top level mangers always focus on the impact of their corporate governance strategy on economic efficiency in addition to a strong emphasis on shareholder values. Since a series of corporate failures in 2001 were attributed to accounting fraud, today organisations focus on internal check policies while formulating their corporate governance strategy. Likewise, corporate scandals of various forms during the last decade attainted public and political interest, which greatly contributed to strict regulation of corporate governance. However, it seems that corporate governance principles always give emphasis on the rights and privileges of shareholders. In addition, the principles of corporate governance clearly point out the role and responsibilities of the board, firm’s integrity and ethical behaviour, and concerns of disclosure and transparency. The main point of difference in corporate difference between United Kingdom and United States is that in UK, the CEO generally does not hold the chairmanship of the board whereas in US, the CEO also serves as the Chairman of Board. ...
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