Convergence and International Corporate Governance

“While corporate governance may not dictate the economic prospects of developing countries, it certainly plays an integral role in shaping them.”

Corporate governance in itself has no single definition but common principles which it should follow. For example in 1994 the most agreed term for corporate governance was “the process of supervision and control intended to ensure that the company’s management acts in accordance with the interest of shareholders” (Parkinson, 1994)1. Corporate governance code is not a direct set of rules but a self-regulated framework which businesses choose to follow. This code has continued to change in the past 20 years in accordance with what is happening in the business world. For example the Enron scandal caused reform in corporate governance with the Higgs Report which corrected the issues which were necessary. Although it does not quickly fix problems, it gives a better framework to

Phenomenal growth of interest in corporate governance has emerged in recent years. The body of literature on the subject has grown markedly in response to successive waves of large corporate failures. Furthermore, there have been numerous attempts to define what constitutes ‘good corporate governance’ and to provide guidelines in order to enhance the quality of corporate governance.

In my review of A Primer on Corporate Governance by Cornelis A. de Kluyver I intend to examine, evaluate, and break down his key points. The book provides a general view on how corporations govern themselves, and the internal and external forces that effect and constrain them. The biggest external force is of course the US Government and the variety of laws and regulations imposed upon corporations. Internally, they are managed by the CEO and board of directors along with a set group of committees and corporate guidelines.

The purpose of this work is to establish the links between the business world and transitional justice mechanisms. My purpose is more specifically to link the potential crimes perpetrated by corporations and the transitional justice mechanisms. This work does not link the

Taking a geographical perspective to the evolution of corporate governance and by extension, idea of the board of directors as a self-regulating social system. There has been three differing perspectives, the two tiered board, legislated compliance and the voluntary or ‘if not why not’ compliance. The reasons for this are

In recent years，with the failures, people in prominent organisations are going to be requested to consider the applicability of their corporate governance. Moreover, the ‘Enterprise and Regulatory Reform Act 2013’ allowed the shareholders in UK have a binding vote on executive compensations. Corporate governance is defined as the regulations which are aimed to control those responsible for administrating an organisation (Boddy, 2014:p99). The wholesome corporate governance has been established through the supervision of external market and the internal positive enterprise culture. It can influence the share price and raising capital costs of a business. The good quality of a firm’s corporate governance is determined by the power of

The corporate governance debate has been a global phenomenon, attributed to the increasing deregulation of worldwide capital markets and the expansion of the shareholder class . Such changes have increased awareness of the importance of corporate governance practices,

Institutional platforms, representing universally accepted social norms, have the power to influence state behavior and legal order. International law can be an effective regulatory mechanism for state conduct if a norm cycle activates in which international norms trickle down into domestic structures and a trajectory towards national policy outcomes transpires. International law can be immensely powerful in influencing the domestic political arena; it is therefore conceivable that international law could serve as a regulatory mechanism within state conduct given national structures exhibit willingness and agreement with international norms.

Over the past few decades the term ‘corporate governance’ has become quite commonplace, with considerable debate arising as to the intersection between ‘corporate governance’ and ‘regulation. The scope and content of corporate governance in and of itself is quite wide, capturing ‘the structures, processes and systems, both formal and informal, by which power is exercised, constrained, monitored and accounted for in the management of a corporation’.

Corporate governance is characterizes a term that refers broadly to the rules, procedures or laws which businesses are operated, regulated, and controlled. The term can refer to internal factors defined by the managers, officers, stockholders or constitution of an enterprise, and also to external factors such as consumer groups, customers and government regulations. It could also be the interaction between different participants in forming corporation’s performance and the way it is continuing towards.

In recent years, there are a number of literatures with regard to the debatable and inevitable convergence in the corporate governance practices (Yoshikawa & Rasheed, 2009). In general, corporate governance convergence relate to the models of corporate governance, in which merge in practices and theoretical views especially at national or multinational level (West, 2009). West (2009) also stated that the completely convergence which represent the differences between various countries would disappear and a universal corporate governance would be used widely in the end.

However international markets are difference due to each society, this paper will provide a different definitions for corporate governance, and we will study the main factors that will influence the form and structure of corporate governance systems, those factors are traditions, religion, tax methods and corporate governance methods.

PhD Katarina Djulic is Assistant Professor at FEFA on subjects of Corporate Finance and Corporate Governance. She also works as Senior Consultant in KPMG Serbia. She worked as an Associate Operations Officer at the International Finance Corporation, World Bank Group, on the Corporate Governance Program. She holds a Bachelor of Law from the University of Belgrade, a Master of Law (LL.M.) from Northwestern University, a Master in Public Policy from Harvard University JFK School of Government, and a PhD degree from the University of

The various models of corporate governance that exist globally have evolved as economies and the