Corporate governance:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Oxford
Oxford Univ. Press
2010
|
| Schriftenreihe: | Oxford higher education
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Klappentext |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | xiv, 569 p. Ill., graph. Darst. 25 cm |
| ISBN: | 9780198062233 0198062230 |
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| 245 | 1 | 0 | |a Corporate governance |c T. N. Satheesh Kumar |
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| 300 | |a xiv, 569 p. |b Ill., graph. Darst. |c 25 cm | ||
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| 490 | 0 | |a Oxford higher education | |
| 500 | |a Includes bibliographical references and index | ||
| 650 | 4 | |a Corporate governance | |
| 650 | 4 | |a Corporate governance |v Case studies | |
| 650 | 0 | 7 | |a Corporate Governance |0 (DE-588)4419850-4 |2 gnd |9 rswk-swf |
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Datensatz im Suchindex
| _version_ | 1804149449090400257 |
|---|---|
| adam_text | Contents
Foreword
v
Preface
vii
PART I CORPORATIONS AND THEIR GOVERNANCE
1.
Governance on the Move
3
Opening Case: Where Were the Board
and Its Independent Directors?
3
A Brief History of Corporate
Governance
4
Managing versus Governing
5
Corporate Governance Defined
б
Corporate Governance in the
Current Era
7
Corporate Form
—
Boon or Bane?
8
Directors Role
9
Regulator s Role
9
Conclusion
10
Closing Case: Satyam Computer
Services Ltd
11
2.
Capitalism, Modern
Corporation, and Governance
17
Opening Case: Dominant Shareholder in
Management Aided by Rubber
Stamp Board? 17
Modern Corporation and Capitalism
19
Boards and Their Fiduciary Duties
26
Theories of Corporate Governance
32
Does Governance Matter?
38
Corporate Governance Models
43
Ownership and Governance
47
Roles of Board and Management
—
Clarity Needed
60
Closing Case: Failure of Enron
—
The
Culmination of Irrational Exuberance
and Unfettered Greed
65
3.
Evolution of Corporate
Governance
—
Practices
and Regulations
74
Opening Case: Best Practices Are Only
on Paper
74
The Need Was Felt
76
How the Corporate Concept Evolved
79
Role of the Government
81
Whistle-blowing Mechanism
83
Good Corporate Governance
—
Is It Worth
the While?
85
Cadbury Committee Report
86
Combined Code
1998 88
OECD
Principles of Corporate
Governance
89
Global Reporting Initiative
91
International Corporate Governance
Network
93
European Union Approach to
Corporate Governance
94
Sarbanes-Oxley Act
2002 94
xii
Contents
Desirable Corporate Governance
—
A Code
98
Report of
K.M.
Birla
Committee on
Corporate Governance
99
Report of Naresh Chandra Committee
on Corporate Audit and
Governance
101
Narayana Murthy Committee Report
106
Clause
49
Guidelines
108
Regulatory Overlaps
114
Closing Case: Independence Only on
Paper
118
Annexure
3.1:
The Cadbury Report
121
Annexure
3.2:
The Combined Code
123
Annexure
3.3:
ICGNStatement of
Pńnciples
Annexure
3.4:
Desirable Corporate
Governance
—
A Code
139
134
PART II BOARDS AND GOVERNANCE
4.
Structure of the Board
—
Directors, Types of Boards,
and Committees
155
Opening Case: Should Directors Age Be
Investors Concern?
155
Boards and Governance
156
Board Organization
157
Types of Directors
171
Need for Independence
172
Impro ing Administration of Governance
through Committees
180
Director Independence
—
Need Is for
Independent Mindset
183
Closing Case: Board Structure
—
Professional
vs Family Firms
186
5.
The Board Development
Process
—
Selection,
Development, Compensation,
and Performance Review
196
Opening Case: Determinants of Executive
Pay
197
Making Boards a Formidable Force
198
Director Development and Succession
Planning
213
CEO Compensation
225
Components of CEO Compensation
239
Compensation of Other Directors
250
Role of Compensation Committee
255
Board Development
—
The Way
Ahead
257
Closing Case: Pay for Performance or
Pay without Performance
261
6.
Boards and Leadership
264
Opening Case: De-risking Strategy of
Ramalinga
Raju
264
Stakeholders Demand Performance
265
Best Practices
267
Board s Strategic Role
273
Strategy as Stretch and Leverage
297
Surveillance Role of the Board
300
The Board as a Learning
Organization
304
Empowered Boards
304
Governance as a Culture
—
The Need for
Strategic Intention
308
Leveraging Good Governance for
Competitive Advantage
309
Ethics, Values, and Being a Good Corporate
Citizen
310
Cbsing Case: Strategic Pursuits of Family-
Managed Companies
—
Bajaj Auto
Ltd vs Reliance Industries Ltd
315
Contents xiii
PART III THE STAKEHOLDER PERSPECTIVE
7.
Governance Problems Related
to Typical Ownership Patterns
323
Opening Case: Too Much Family on the
Board
—
Comparison of Two Family-
Managed Companies
323
Governance and Typical Ownership
Patterns
325
Most Commonly Observed Ownership
Patterns
329
Institutional Investors and Developed
Market Conundrum in Corporate
Governance
351
Problems of Governance in Companies
Where Government Has a Stake
Varying from Minority to
Dominant
356
Difficulties Encountered in Governance
358
Theoretical Framework for Governance
in PSUs
360
Conflicts of Interest
365
Conflicts of Interest in PSUs
369
Other Conflicts of Interest in General
370
Remedial Actions
370
Does Size of the Board Matter in
Governance?
371
Closing Case: Should
RIL
Board Sack the
CEO or Shareholders Express No
Confidence in the Board?
377
8.
Governance, Capital Market
Institutions, and Government
379
Opening Case: Can Auditors Act
Independently?
379
Governance
—
The Role of Capital Market
Institutions and Government
381
The Developed Market Argument
386
Capital Market Institutions
390
Banks
399
Stock Exchanges
403
Can Institutions Play a More Meaningful
Role?
403
Regulators and Their Roles
405
Government s Role in Corporate
Governance
—
The Company Law
Provisions
411
Implications of Company Being a Separate
Legal Entity
412
Deficiencies and Loopholes in the Laws
428
Governance Ratings
—
Merits and
Demerits
429
Information Is the Key
—
Cooperate and
Collaborate for Information
434
Mature Market for Corporate Control
435
Closing Case: Gatekeeper Integrity Becomes
Questionable
439
9.
Directors in Action
—
Ground
Rules for Performing
Multitudes of Roles and Duties
441
Opening Case: How Many Directorships
441
Ground Rules for Performing Multitudes of
Roles and Duties
443
Applicable to All Directors
444
The Non-executive Director
447
The Non-executive Independent
Director
448
Director as a Committee Member
451
Director as a Committee Chair
452
As Lead Independent Director
453
As the Chair of the Board
455
Director as Institutional Nominee
456
The Executive Director
457
As Managing Director or CEO
458
Closing Case: The Clause
49
Millionaires
—
Boardroom Becomes Financially
Rewarding
461
xiv Contents
PART IV THE ROAD AHEAD—THE FUTURE OF GOVERNANCE
10.
Where Do We Go from Here?
467
Opening Case: Evidence of Rigour in Board
and Committee Meetings
467
Governance So Far
469
Governance Practices for the Twenty-first
Century
469
Innovative Practices for the Future
475
Can Political Approach Be Better?
480
The Board for the Future
481
Conformance vs Performance
483
Journey to the Governed Corporation
485
The Governance Conundrum
—
No Straight
Solutions
487
Clońng
Case: A Journey through the
Changing Roles of the Board
491
APPENDICES
Appendix A: GRI Compliance Report of
Jubilant
Organosys
Ltd
497
Appendix
B: EU
Approach to Corporate
Governance
507
ттш/щжцт-іт
Appendix C:
K.M.
Birla
Committee Report
on Corporate Governance
521
Appendix D: Narayana Murthy Committee
Report on Corporate Governance
541
Index
564
Corporate Governance
Corporate Governance is a comprehensive textbook designed to meet the requirements of postgraduate
management students. It provides an in-depth analysis of the core concepts of the subject and supplements
them with relevant examples, exhibits, and case studies.
The book is divided into four parts. Beginning with an introductory chapter that defines corporate
governance and a director s role in a company, Part I covers types of corporations, theories, and models of
governance. It also examines the events that have led to the current thrust on corporate governance. Part II
elaborates on the structure of the board and its development process. It also highlights the issues related to
compensation, the performance review of directors as well as the importance of leveraging good governance
for competitive advantage. Part III gives a broad view of the governance-related problems associated with the
typical ownership patterns and of capital market institutions from the stakeholder perspective. The ground
rules for a director to perform responsibilities and duties are also discussed in this part. Part IV, consisting of a
single chapter, concludes the book with a discussion on the future of corporate governance.
With its comprehensive coverage and approach, and its real-world examples and case studies, this book
would also serve as an authoritative guide for professionals.
Key Features
•
Expounds on issues and challenges faced by corporates in applications of governance in India as well as
abroad
Includes detailed reports of some of the various committees constituted by
SEBI,
including the Kumar
Mangalam
Birla
Committee Report, Narayana Murthy Committee Report, and Clause
49
guidelines
•
Contains extensive discussion on the European Union approach to corporate governance
■
Provides numerous real-world cases such as Satyam Computers, jubilant
Organosys
Ltd, and Reliance
Industries Ltd
Prof. T.N. Satheesh Kumar, an independent consultant and trainer, was formerly faculty at ICFAI Business
School (IBS), Kochi. He has more than
30
years experience, both in the industry and the
academia.
He was
Regional Business Manager at Accel IT Academy and Senior Manager
-
Resources and Marketing at Accel
Software
&
Technologies Ltd. He has taught at reputed institutions such as SCMS Business School and Cochin
University of Science and Technology (visiting), both in Kochi. Prof. Kumar has published a number of papers
and articles in management journals and national business dailies.
100
OXTORD
ISBN
0-19-806223-0
PRESS
www.oup.com
В
790.10
|
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