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Essay sample - Finance and Accounting Essay: International Financial Strategies
Finance & Accounting
Pages 12 (3012 words)
International Financial Strategies Introduction The term corporate governance reflects a set of rules and processes based on which business operation is normally controlled and regulated. Corporate governance can be defined as “the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled” (Solms & Solms, 2008, p.2)…
Many of the economists strongly hold the view that a global approach is necessary to regulate corporate governance in order to prevent such corporate failures in future. This paper will critically analyse whether or not a global approach to regulate corporate governance would be effective. It will also discuss the effects and benefits that this strategy may cause on multi-national companies. Corporate governance 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 (OECD, 2004). 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. ...
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