Preview

OECD Principles of Corporate Governance

Powerful Essays
Open Document
Open Document
19581 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
OECD Principles of Corporate Governance
OECD Principles of Corporate Governance
Since they were issued in 1999, the OECD Principles of Corporate Governance have gained worldwide recognition as an international benchmark for good corporate governance. They are actively used by governments, regulators, investors, corporations and stakeholders in both OECD and non-OECD countries and have been adopted by the Financial Stability Forum as one of the Twelve Key
Standards for Sound Financial Systems. The Principles are intended to assist in the evaluation and improvement of the legal, institutional and regulatory framework that influences corporate governance. They also provide guidance for stock exchanges, investors, corporations, and others that have a role in the process of developing good corporate governance.

«

OECD Principles of Corporate
Governance

The Principles should be viewed as a living document. This revised version takes into account developments since 1999 and includes several important amendments. The revision has benefited greatly from extensive public consultations. This revised version of the OECD Principles was agreed by the
OECD member countries on 22 April 2004.
For any comments, questions or suggestions concerning the OECD Principles of
Corporate Governance, please contact the Corporate Affairs Division of the OECD at: corporate.affairs@oecd.org. For more information about the OECD’s work in the area of corporate governance and the OECD Principles, visit: www.oecd.org/daf/corporate/principles. OECD's books, periodicals and statistical databases are now available via www.SourceOECD.org, our online library.
This book is available to subscribers to the following SourceOECD themes:
Industry, Services and Trade
Governance
Ask your librarian for more details of how to access OECD books online, or write to us at

SourceOECD@oecd.org

www.oecd.org

ISBN 92-64-01597-3
26 2004 02 1 P

2004

-:HSTCQE=UVZ^\Z:

2004

© OECD, 2004.
© Software: 1987-1996, Acrobat is a trademark of ADOBE.
All rights

You May Also Find These Documents Helpful

  • Good Essays

    The United Thermostatic Controls Company is a publicly owned company that manufactures and markets residential and commercial thermostats. As a publicly owned corporation, United Thermostatic Controls mutual stocks be listed and traded on the New York Stock Exchange. Frank Campbell is the director of the Southern sales division; however the Southern sales regional economics getting worse, the pressure to achieve sales revenue targets has created stressful and possibly unethical situations by Campbell. Campbell has pressure because he may not meet budgeted revenues for the fourth quarter, he researched purchase orders supposed to receive during late November and early December. With those purchase orders, Campbell decided to manufacture and ship orders prior to the end of the year to have the sales revenue contribute toward the fourth quarter. This action by Campbell resulted in sales revenue to be 18.6% increase over the actual sales revenue for the third quarter of the year and exceeded the budgeted amount by $80,000. This prompted the internal audit staff to question the appropriateness of the recorded revenue of $150,000 on two shipments made by the Southern division in the fourth quarter of the year. In the further investigation revealed that the customers did not want the delivery of product until the earliest of February 2011. Also one customer did not want partial shipment; however that is what they had received. This paper will address the legality of the activities based on federal, state, and local laws. Additionally, the criteria that the Sarbanes-Oxley act would apply to this case. Furthermore, a determination on whether or not the activities were equitable to internal and external stakeholders and what would be the best next step decision.…

    • 989 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    The article “Examining Corporate Governance Policies,” by Bitner and Dasher (2007) is a magazine article of a reputable magazine called “Commercial Lending Review.” The purpose of article is to explain the business relations of earning management to the corporate governance and the necessity of corporate governance in order to maintain business’s relationship with the management and the public. This article is very useful source for the report because it explains what the corporate governance is and relates it back to the report questions “relations with business ethics.”…

    • 460 Words
    • 2 Pages
    Satisfactory Essays
  • Best Essays

    Corporate governance has in the last decade taken a more central position in business practices…

    • 4915 Words
    • 20 Pages
    Best Essays
  • Powerful Essays

    The following paper will compare and contrast corporate governance in the U.S. and European Union. Because corporate governance regulations are not yet uniform across all EU countries, we have chosen to examine Poland in particular. We will first present U.S. corporate governance and the Sarbanes-Oxley Act of 2002, and then examine how Poland's corporate governance regulations compare. Finally, since we have already learned about Corporate Social Responsibility for U.S. companies, we have examined Corporate Social Responsibility in Poland, looking specifically at the largest airline in Poland, LOT.…

    • 2283 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Bibliography: 1. Frederikslust R. (2008) ed 1st , Corporate Governance and Corporate Finance An European Perspective, London: Rautledge…

    • 1740 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    The Corporate Governance of any business is the relationship among the board of directors, management and shareholders to help in determining the path and performance of the corporation (Hunger & Wheelen, 2007, p. 18). Although laws and standards vary, the board of directors is:…

    • 383 Words
    • 2 Pages
    Good Essays
  • Better Essays

    References: ▪ Aguilera, R. & Cuervo-Cazurra, A. (2009) ‘Codes of good governance’, Corporate Governance: An International Review, Vol. 17, No.3, pp. 376-387…

    • 2640 Words
    • 11 Pages
    Better Essays
  • Best Essays

    7. International Organization of Securities Commissions (IOSCO) (2000) IASC Standards’, Press release, 17 May 2000. Available at http://www.iosco.org/press/presscomm000517.html.…

    • 1770 Words
    • 8 Pages
    Best Essays
  • Good Essays

    barilla spa

    • 795 Words
    • 3 Pages

    Unified standards, a clear division of responsibilities between corporate and financial institutions, full scalability and…

    • 795 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    The roots of the code mainly come from the Cadbury Committee Reports and its successor reports. (Mallin, C., 2010)…

    • 1419 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    In the non-Anglo-American markets, controlling shareholders also strive to maximize long term returns to equity. However, they are more constrained by powerful other stakeholders. In particular, labor unions are more powerful than in the Anglo-American markets. Governments…

    • 3989 Words
    • 16 Pages
    Powerful Essays
  • Satisfactory Essays

    CH AP TER 1 – I S S U ES I N COR POR ATE G OVER N AN CE…

    • 579 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Good Job

    • 13546 Words
    • 46 Pages

    ABSTRACT Manuscript Type: Review Research Question/Issue: Convergence in corporate governance across countries has been a subject of interest and controversy in a variety of disciplines. We attempt to address a number of related research questions: (1) what constitutes convergence? (2) what are the drivers that propel corporations in different nations towards convergence? (3) what are the major impediments that stand in the way of convergence? (4) what empirical evidence do we have to suggest that we are moving towards or away from convergence? and (5) what would be some productive avenues for further research on this topic? Research Findings/Results: Despite the vigorous intellectual position of the proponents of convergence, there is only limited evidence to indicate that such convergence is actually occurring. Even when there is ostensible convergence, much of it is convergence in form rather than substance, and governance convergence is not a context-free phenomenon. Theoretical Implications: Our review of the past literature suggests that increasing integration of product and capital markets is leading to changes in corporate governance around the world, but there is only limited evidence that such changes constitute convergence. Governance changes seem to be primarily attributable to the quest for greater efficiency in governance and enhanced legitimacy in capital markets. However, local forces such as institutional embeddedness and politics can hinder governance changes or create “hybrid” practices. Practical Implications: The ideal corporate governance may be institution- and firm-specific and an imposition of new practices or standards may not lead to intended policy or performance outcomes. Keywords: Corporate Governance, Convergence, Board of Directors, Capital Markets…

    • 13546 Words
    • 46 Pages
    Powerful Essays
  • Powerful Essays

    S E C T I O N 4 0 4 O F T HE SARBANES-OXLEY ACT…

    • 77064 Words
    • 310 Pages
    Powerful Essays
  • Best Essays

    Oecd Principles

    • 4342 Words
    • 18 Pages

    What are the Principles and what issues do they address? How to strengthen the ownership role of shareholders? How do the Principles deal with conflicts of interest? How do the Principles help strengthen company oversight by boards? How can governments use the Principles? How was the review of the Principles carried out? What happens next? For further information For further reading Where to contact us?…

    • 4342 Words
    • 18 Pages
    Best Essays