In early November 2013, Typhoon Haiyan struck the Philippines, the stron- gest cyclone to make landfall in recorded history. It killed thousands of people, displaced more than 4 million, and left 2.5 million in need of food aid. Hitting just before the round of climate negotiations known as the 19th Conference of the Parties (COP) to the United Nations Framework Con- vention on Climate Change (…
his is a book about governance, risk management, and compliance management of a large modern enterprise and how the IT infrastructure, in particular the Oracle IT Infrastructure, can assist in that governance. The IT infrastructure both presents a risk and also provides the infrastructure to mitigate and manage that risk. The IT infrastructure must be shown to be in compliance with policies,…
Here at Deloitte we believe passionately in the importance of the role played by unlisted companies in helping continued recovery in the UK economy. We believe that the Principles and Guidance being launched by the IoD will make a significant contribution to the governance of such companies. Acknowledging that good governance will look different depending on a company's size and situation, this…
Corporate governance is a topic that has received growing attention in the public in recent years as policy makers and others become more aware of the contribution good corporate governance makes to financial market stability and economic growth. Corporate governance is all about controlling your business and so is relevant, and indeed vital, for all organisations, whatever size or structure. …
he phrase “corporate governance” describes “the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled within corporations. It encompasses the mechanisms by which companies, and those in control, are held to account.”1 Good corporate governance promotes investor confidence, which is crucial to the ability of entities listed o…
Corporate governance has enjoyed a long tradition in the English-speaking world of management sciences since the 1990s. Following its traditional understanding, corporate governance is defined as leadership and control of a firm with the aim of securing the long-term survival and viability of that firm (cf. Shleifer and Vishny 1986, p. 462). But recent business scandals and financial crises c…
Despite being right at the beginning of this volume, these lines are the last ones written. With them, I have finalized a book project which has taken more than three years. This volume picks up a discussion which has become more than just that of cur- rent interest since the financial crisis. We are living in turbulent times and the tension between economic imperatives and social demands has …
During the past two years, Toronto Stock Exchange (TSX) has reviewed the corporate governance disclosure of over 700 of its issuers. Almost all describe, in some form, their system of corporate governance. While these issuers clearly try to give investors insight into their corporate governance practices, disclosure can be improved. Good disclosure about your corporate governance practices giv…
Never since Marshall's seminal work on locational choice and industrial districts has the cluster idea been given more prominence than in the last decade, promi- nence that was in particular triggered by Porter (1990) and Enright (1990). This is not too surprising since "... both, firms keen to improve their competitiveness, and governments keen to exploit new sources of economic growth, need t…
GRC is a management model that promotes the criteria unification, as well as communication and collaboration between different stakeholders in the management and control of the organization.
“his book consists of several essays. Their central argument is simple: anarchy works better than you think. My thesis sets a low argumentative bar. If you're like most people, you don't think anarchy works at all. Such readers are in good company. One of the most important figures in the history of social thought, Thomas Hobbes, shared that thinking. In 1651 Hobbes famously described life …
My work is an analysis of the regulatory state in the development. The study focuses on diffusion of privatization and regulatory authority around Europe. The contemporary regulatory state has developed as a result of political struggle that accompanied and increasingly globalized world and was in the beginning a response to the serious international economic crisis that emerged in the 1970s.Tw…
The impact of corporate governance on strategicdecisions is emerging as a key concern in contemporary businesses. In particular,governance mechanisms such as stock ownership structure and takeover defenses have major influences on strategicresource allocation in firms. In this paper, we empiricallyexamined a set of relationshipsbetween corporate governance and information technology (IT) i…
Finance is such an important part of modern life that almost everyone can benefit from understanding it better. What you may find surprising is that the financial problems facing PepsiCo or Microsoft are not really different from those facing an average investor, small business owner, entrepreneur, or family. On the most basic level, these problems are about how to allocate money. The choic…
In a nation, the law can serve to (1) keep the peace, (2) maintain the status quo, (3) preserve individual rights, (4) protect minorities against majorities, (5) promote social justice, and (6) provide for orderly social change. Some legal systems serve these purposes better than others. Although a nation ruled by an authoritarian government may keep the peace and maintain the status quo, it ma…
The late Milton Friedman once said that if the average tariff rate in America was a few percentage points lower than it would otherwise be thanks to infl uence of academic economists, that would more than justify all of their salaries and then some because of the wealth-enhancing eff ects of freer trade. Friedman was correct as far as the story goes, but at the time that he made the commen…
Internal control is a major part of managing an organization. It comprises the plans, methods, and procedures used to meet missions, goals, and objectives and, in doing so, supports performance-based management. Internal control also serves as the first line of defense in safeguarding assets and preventing and detecting errors and fraud. In short, internal control, which is synonymous with mana…
This series represents a response to several independent evaluations in recent years that have argued that development practitioners and policy makers dealing with public sector reforms in developing countries and, indeed, anyone with a concern for effective public governance could benefit from a synthesis of newer perspectives on public sector reforms. This series distills current wisdom a…
This book provides an overview of the principles underlying participatory budgeting. It analyzes the merits and demerits of participatory budgeting practices around the world with a view to guiding policy makers and practitioners on improving such practices in the interest of inclusive governance. This publication includes five regional surveys, and seven country case studies can be found on th…
On May 2, 1995, a group of 30 experts met in Ottawa to discuss the interrelationships between development and the governance of the international economy. They came from all parts of the world Mexico, India, the United States, the United Kingdom, Sweden, Denmark, Uganda, Pakistan, Chile, Indonesia, and, of course, Canada. The group comprised researchers, academics, and members of non-governm…
Four years after the financial crisis, the agenda for change within the global corporate and investment banking (CIB) industry remains significant. In this compendium, we bring together five articles published over the past year that serve as a ready reckoner for the CIB agenda—not just for capital markets and banking, but also for critical components of the banking infrastructure that suppor…
Writing this book has been on my mind for almost 15 years. In the early nineties—as dean of the School of Business Administration at George Mason University—I had the pleasure of co-teaching an executive course on corporate governance with Nell Minow, a pioneer in the field. This experience convinced me of the importance of this subject to our welfare and cemented my interest in this top…
What is the common structure of the law of business corporations—or, as it would be put in some jurisdictions, company law—across different national jurisdictions? Although this question is rarely asked by corporate law scholars, it is critically important for the comparative investigation of corporate law. Recent scholarship often emphasizes the divergence among European, American, and Jap…
The purpose of this report is to record and analyze (evaluate) the accomplishments of the South Africa Canada Program on Governance (PoG) and the lessons learned in the course of its operation from its origin in 1992 through to the end of 1997. This is part of a larger report that also suggested a framework for future review and evaluation. This chapter introduces the PoG and describes its m…
International and regional developments in the late 1980s resulted in Southern Africa experiencing a ‘wave’ of democratisation. This seemingly produced a broad acceptance, throughout much of the region, of the values and norms of multi-party democracy, regular transparent elections, constitutional rule, and adherence to human rights. Except for Swaziland, all Southern African Development Co…
Our text is a comprehensive introduction to the vital subject of American government and politics. Governments decide who gets what, when, how (See Harold D. Lasswell, Politics: Who Gets What, When, How, [New York: McGraw-Hill, 1936]); they make policies and pass laws that are binding on all a society’s members; they decide about taxation and spending, benefits and costs, even life and de…