New Corporate Governance in the Post-Crisis World
The new corporate governance concept is articulating goes back to the roots of good corporate governance, which is the ability to act as a visionary and effective decision body, exerting both strategic leadership and control. It's also an invi...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2010/01/11900709/new-corporate-governance-post-crisis-world http://hdl.handle.net/10986/11096 |
| Summary: | The new corporate governance concept is
articulating goes back to the roots of good corporate
governance, which is the ability to act as a visionary and
effective decision body, exerting both strategic leadership
and control. It's also an invitation to think twice
about the applicability of "best practices" in
different legal contexts and business models. Arguably,
despite some common features, the appropriate corporate
governance of a family business company will differ from
that of a large listed company. In addition, both the
financial crisis and previous cases of large corporate
failures have raised critical questions about the role of
board directors in risk management. Are boards sufficiently
equipped with the necessary knowledge, skills and expertise
to provide the appropriate strategic vision and control
function? The answer is certainly more complex and nuanced
than it seems. Overly generalist boards may not grasp
certain technicalities (with dreadful consequences), yet
overly technical boards may completely miss the big picture. |
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