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To date, Corporate Governance reforms have relied heavily on non-executive directors and institutional investors as enforcers of good corporate practice - These mechanisms are inadequate for effective corporate governance and more will be required - Do yo
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To date, Corporate Governance reforms (in the UK) have relied heavily on non-executive directors and institutional investors as enforcers of good corporate practice. These mechanisms are inadequate for effective corporate governance and more will be required. Do you agree? Over the last ten years, major corporate governance reforms have occurred in the UK, stemming from the Cadbury Report, which was published by a Committee headed by Sir Adrian Cadbury in December 1992. This report defines Corporate Governance as 'a system by which companies are directed and controlled.'1 It is important as it stems from the relationship between those who own (shareholders) and control the company (directors). Directors generally have control over the company and directors have a duty in law in act 'bona fide' in the interests of the company2 although Farrar realises that this means acting in the interests of shareholders.3 Shareholders need a mechanism to be able to exert...
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