CORPORATE GOVERNANCE IMPLICATIONS FROM THE 2008 FINANCIAL CRISIS

Journal of Governance and Regulation

关键词: Corporate Governance;    Financial Crisis;    Banks;    Risk-Taking;   

DOI  :  10.22495/jgr_v1_i1_p7

学科分类：社会科学、人文和艺术（综合）

来源: Virtus Interpress

【 摘 要 】

The importance of structural corporate governance factors identified by the New York Stock Exchange’s 2010 Commission on Corporate Governance was reaffirmed here with various empirical and forensic studies. The key, recurring structural factors were all-powerful CEO (the duality factor and related Board independence issues), weak system of management control, focus on short term performance goals (and related executive compensation packages), weak code of ethics, and opaque disclosures. Such weak corporate governance factors were key contributors to both fraudulent financial reporting and excessive risk-taking which facilitated the U.S. financial crisis in 2008. Corporate governance listing requirements by major stock exchanges around the world will help mitigate such problems from recurring in the future.

【 授权许可】

CC BY-NC