Corporate Governance in Hong Kong 1. Corporate Governance in Hong Kong Hong Kong’s position as an international economic and financial center is attributed to its exemplary corporate governance. With Hong Kong’s various authorities and regulatory bodies emphasizing on transparency and accountability for listed companies‚ Hong Kong was ranked first for corporate governance among 11 Asian countries in 2007. (Refer to Appendix 1) The Stock Exchange of Hong Kong (SEHK) describes corporate
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prominent role in utilization of all these resources‚ governance or public governance plays a vital role in sustainable development of the society. Governance‚ as it is said relates to decisions that define expectations‚ grant power or verify performance. It consists either of a separate process or of a specific part of management or leadership processes. Sometimes people set up a government to administer these processes and systems.1 Public governance is more complex but important in all kinds of society
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CORPORATE GOVERNANCE – CONCEPTUAL FRAMEWORK INTRODUCTION: The great Indian master of Political Science Kautilya mentioned four functions of a king in his well-known book Arthashastra -1.Raksha or protection‚ 2.Vriddhi or enhancement‚ 3.Palana or maintenance‚ and 4.Yogakshema or wellbeing or safeguard. It is the sacred duty of the state to protect the person and property of its subject to enhance their wealth‚ to maintain them and to safeguard their interest in general. This noble concept
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Case Study A Case Study in Corporate Governance & Ethical Auditing Satyam Fiasco & Role of PwC as an Auditor Group I Submitted By: Aditya Zutshi Ambrish Mani Piyush Anandani Ravinder Pal Singh Dhillon Abstract & Approach On Dec 16‚ 2008‚ Satyam declared to buy entire stakes in Maytas Properties for $1.3 Billion & 51% stakes in Maytas Infra for another $300 Million. By this action‚ the investors were furious. This was because of the move to invest in a promoter-related
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THE JOURNAL OF FINANCE • VOL. LXVII‚ NO. 1 • FEBRUARY 2012 Information Disclosure and Corporate Governance BENJAMIN E. HERMALIN and MICHAEL S. WEISBACH∗ ABSTRACT Public policy discussions typically favor greater corporate disclosure as a way to reduce firms’ agency problems. This argument is incomplete because it overlooks that better disclosure regimes can also aggravate agency problems and related costs‚ including executive compensation. Consequently‚ a point can exist beyond which additional
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stake and how we choose or priorities between them. An ethical approach to a problem will enquire about end-results and the route or means we use to achieve these objectives together with the relationship between the two (‘end versus means’). Corporate Governance can be defined as a proper structure of rules and practices‚ a reference point to return to where decision making is influenced which invariably helps a company run smoothly reducing confusion‚ ambiguity and ultimately risk. Shareholders own
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Chapter One Introduction 1.1 Corporate Governance: Corporate governance is a combination of corporate policies and best practices adopted by the corporate bodies to achieve its objectives in relation to their stakeholders. It is also the field of economics‚ which studies the many issues arising from the separation from ownership and control. The fundamental objective of corporate governance reforms is to enhance transparency and transparency enhances accountability. It is widely recognized that
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SEC Building‚ EDSA‚ Greenhills Mandaluyong City SEC Memorandum Circular No. 6 Series of 2009 REVISED CODE OF CORPORATE GOVERNANCE Pursuant to its mandate under the Securities Regulation Code and the Corporation Code‚ the Securities and Exchange Commission (the “Commission”)‚ in a meeting held on June 18‚ 2009‚ approved the promulgation of this Revised Code of Corporate Governance (the “Code”) which shall apply to registered corporations and to branches or subsidiaries of foreign corporations
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affirmation? Explain the given statement. Actually‚ shareholders have limited power during the election process even though they are empowered by the statues to elect directors to oversee management. Even if the majority of shareholders oppose a corporate sponsored nominee‚ the person will still be elected as director. CEOs and the board had controlled the power to the nomination and election process until very recently. The independent directors in the nominating committee has provided some structure
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BUSINESS ETHICS & CORPORATE GOVERNANCE OCS AGENDA • Understanding Ethics • Managing Business Ethics • Corporate Social Responsibility • Complexity of Ethical Issues • Ethical Leadership • Evaluation of Corporate Governance • Internal & External Corporate Governance mechanisms • Corporate Governance Ratings OCS Scams OCS Values • Fundamental beliefs • Principles for good‚ right and just • Evaluate something vis-à-vis a Standard • Integrity‚ Patriotism‚ Fairness OCS Morals • Values attributing
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