کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
958529 1478839 2014 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Challenges of corporate governance: Twenty years after Cadbury, ten years after Sarbanes–Oxley
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Challenges of corporate governance: Twenty years after Cadbury, ten years after Sarbanes–Oxley
چکیده انگلیسی

This paper sets the background to the Special Issue of the Journal of Empirical Finance on Challenges of Corporate Governance. It identifies the alternative approaches that can be taken to solve agency problems stemming from asymmetries of information: (i) ex-post monitoring through audit and information provision, (ii) ex-ante monitoring through boards, and (iii) incentivisation through the alignment of managerial incentives with shareholders. It discusses how the UK and the US have responded to corporate failures and relates the development of regulation in these countries to the three alternative approaches. It concludes with a discussion of three groups of challenges: (i) understanding alternative regulatory approaches, (ii) determining the importance of geo-diversity of business culture, and (iii) overcoming the problems of the political economy of corporate governance.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Empirical Finance - Volume 27, June 2014, Pages 1–9
نویسندگان
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