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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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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BUSINESS ETHICS AND CORPORATE GOVERNANCE ASSIGNMENT I. CSR practices by Maruti Suzuki & Maytas Infra ltd. A) CSR by Maruti Suzuki India Ltd. Employee welfare Company will be deeply committed towards the welfare of its employees‚ their families and communities around its operations to improve quality of life as a whole. Practicing 3R (Reduce‚ Reuse and Recycle) The company has been promoting 3R since its inception. As a result the company has not only been able to recycle
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summary……………………………………………………………. …12 2.0 CHAPTER TWO: LITERATURE REVIEW……………………………… 13 2.1 Introduction..…………………………………………………………………....13 2.2 theoretical framework…………………………………………………………..13 2.3 Good corporate governance and operating costs…………………………….…18 2.4 Correlation between good corporate governance and performance ratios……...20 2.5 Chapter summary……………………………………………………………… 24 3.0 CHAPTER THREE: RESEARCH METHODOLGY………………...……25 3.1 Introduction …………………………………………………………………… 25 3.2 Research design…………………………………………………………………25
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Enron Corporation‚ a major billion dollar company‚ was thriving at its highest level back in the year of 2000. Enron employed approximately 22‚000 associates and was named “America’s most innovative company” by Fortune. However‚ under all of the bliss‚ revealed was a substantial amount of corporate fraud and corruption. The Enron scandal involved both illegal and unethical activity. Enron’s executive chose deception of the stakeholders and short-term financial gains for themselves. They were
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economic competitiveness in many areas to satisfy the demands required by the IMF‚ of which corporate governance was of utmost importance. Many studies has scrutinized poor management practice of corporate governance‚ specifically in the chaebol firms as one of the main drives behind the collapse of Korean economy (Chang‚ 2006‚ Lee‚ 2002‚ Nam‚ 2001‚ Kim‚ 2004)‚ some even set it as case study of how corporate governance could relate to firm values and company performance (Black‚ Jang and Kim‚ 2005‚ Baek
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Chapter 1 Introduction Corporate governance (CG) is an important effort to ensure accountability and responsibility and is a set of principles‚ which should be incorporated into every part of the organization. The need for corporate governance arises from the potential conflicts of interest among stakeholders in the corporate structure. These conflicts of interest often arise from two main reasons. First‚ different stakeholders have different goals and preferences. Second‚ the stakeholders
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criticized for improving their firm’s bottom line at any moral or social cost. Ethics essentially “refers to the issues of right‚ wrong‚ fairness and justice.” Clearly‚ examples such as Enron‚ WorldCom‚ and even Conrad Black tested society’s views on sound ethical business and the link to what society sees as “good” governance practices. Although the controversies involve issues matched in variety only by the types of companies‚ they all virtually involve some form of abuse of stakeholders trust. These
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19-December 10‚ 2012 PROJECT ON “LEGAL FRAMEWORK OF CORPORATE GOVERNANCE IN INDIA” By Atul Gupta Assistant Professor Hindu College‚ University Of Delhi‚ Delhi Submitted in Partial Fulfillment Of UGC SPONSORED REFRESHER COURSE CENTRE FOR PROFESSIONAL DEVELOPMENT IN HIGHER EDUCATION University of Delhi Delhi-110007 “Legal Framework of Corporate Governance in India” Atul Gupta Assistant Professor
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“A white paper is a government report outlining policy or authoritative report on a major issue. White papers discuss a specific business issue‚ product‚ or competitive situation.” The Aftermath Affects On December 2‚ 2001‚ Enron filled for bankruptcy under chapter 11 of the US banking code. This sudden collapse of one of Fortune 500 largest companies shocked the world. Once the world’s largest energy company‚ Enron’s scandal became the largest bankruptcy recognition and was attributed as the
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