Act of 2002 and the legacy of Enron. This act was passed after corporate scandals that involved the regulatory mismanagement and fraud of Enron. This article review will cover topics on how the Sarbanes-Oxley and the collapse of Enron in which affected the ethical decision-making processes in business environments and criminal penalties for which the act provides. Decision-Making in Business Environment “A new generation of corporate leaders has entered the boardroom since Enron’s bankruptcy in
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Doctrine of Piercing the Veil of Corporate Entity Requires the court to see through the protective shroud which exempts its stockholders from liabilities that they ordinarily would be subject to‚ or distinguishes a corporation from a seemingly separate one‚ were it not for the existing corporate fiction (Lim vs CA‚ 323 SCRA 102) Extent: The application of the doctrine to a particular case does not deny the corporation of legal personality for any and all purposes‚ but only for the particular transaction
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Lecturer responsible for AUE2602: Topic 1: Corporate Governance Ms Nicolene Coetzee Contact details: AUE2602@unisa.ac.za CORPORATE GOVERNANCE What does CORPORATE GOVERNANCE mean: It is the system or process whereby companies are directed or controlled. It follows then that: Healthy‚ honest‚ open‚ competent and responsibly controlled companies will improve the quality of modern society. CORPORATE GOVERNANCE Key aspects of King III: Effective leadership * Ethical values of responsibility * Fairness
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Enron‚ Ethics And Today’s Corporate Values Enron’s heyday has long ended. But its lessons will long endure. The global business community is now watching a painful new chapter is this saga — one where its former high-riding chief executive officer‚ Jeff Skilling‚ is getting a decade shaved off of his prison term that should now end in 2017. Enron: The Smartest Guys in the Room (Photo credit: Wikipedia) The company’s failure in 2001 represents the biggest business bankruptcy ever while also spotlighting
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Journal of Corporate Finance 11 (2005) 85 – 106 www.elsevier.com/locate/econbase Additions to corporate boards: the effect of gender Kathleen A. Farrell a‚*‚ Philip L. Hersch b a Department of Finance‚ University of Nebraska-Lincoln‚ Lincoln‚ NE 68588-0490‚ USA b Department of Economics‚ Wichita State University‚ USA Received 1 November 2003; accepted 1 December 2003 Available online 20 April 2004 Abstract During the decade of the 1990s the number of women serving on corporate boards increased
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Corporate governance – Intended learning outcomes Students should be able to Identify different forms of corporate governance Evaluate the influence of organisational stakeholders on a firm’s purposes and performance Conduct stakeholder mapping Exhibit 4.1 Influences on strategic purpose Corporate Governance Corporate governance refers to the influence and power of the stakeholders to control the strategic direction of the organisation (Lynch‚ p.362) The chain of corporate governance:
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CORPORATE GOVERNANCE AND INTERNATIONAL BEST PRACTICES According to the institute for Corporate Governance‚ Dubai‚ CG is ‘the system by which business corporations are directed and controlled.CG has received special attention from all over the world after scandals at Enron Corporation (USA)‚ The BCCI Bank (UK)‚ the Harshad Mehta Share Scam (India)‚ and Satyam Computer Services Limited (India). Furthermore‚ After the global financial meltdown (2007-10) it is evident that lack of stringent CG
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publicity and media opportunities due to media interest in ethical business activities. In this article‚ Michael Porter and Mark Kramer propose a fundamentally new way to look at the relationship between business and society that does not treat corporate growth and social welfare as a zero-sum game. They introduce a framework allows business to identify the social consequences by their actions; to discover opportunities to benefit society as well as themselves by strengthening the competitive context
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Chapter 1 Comparative Corporate Governance and Financial Goals End-of-Chapter Questions 1. Corporate goals: shareholder wealth maximization. Explain the assumptions and objectives of the shareholder wealth maximization pmodel. Answer: The Anglo-American markets have a philosophy that a firm’s objective should follow the shareholder wealth maximization (SWM) model. More specifically‚ the firm should strive to maximize the return to shareholders‚ as measured by the sum of capital gains and dividends
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engaged learning and ethical training for citizenship‚ rather than mere knowledge acquisition and abstract speculation. In response‚ many teachers of American history have experimented widely with service learning‚ although those of us who specialize in other historical fields have generally not embraced this trend. Instead‚ we have responded to the call for engaged learning with the old claim that our discipline uniquely prepares students to gain citizenship skills by cultivating critical thinking
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