Dellaportas, Steven, Gibson, Kathy, Alagiah, Ratnam, Hutchinson, Marion R., Van Homrigh, David, & Leung, Philomena (2005) Corporate governance. In Ethics, Corporate Governance and Accountability. John Wiley and Sons, Milton, Qld., pp. 117-150.
Governance is largely about the decision-making process in a complex organization Shareholders (owners) delegate authority to professionals who have the managerial skills to increase shareholders’ wealth. As a consequence the contributors of a firm's capital base are usually different from the contributors of its management base. This separation of ownership from control has led to organizations establishing a system of corporate governance controls designed to discourage managers from pursuing objectives that fail to maximize shareholder wealth. These controls constitute the firm's corporate governance framework. Corporate governance controls are designed to monitor managers behavior or align the goals of management with the goals of shareholders.
In this chapter, a corporate governance framework is developed that outlines the roles and responsibilities of participants involved in governing the organization and portraying information to the capital market.
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|Item Type:||Book Chapter|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School|
Current > Schools > School of Accountancy
|Copyright Owner:||Copyright 2005 John Wiley and Sons|
|Copyright Statement:||The definite version is available on publication at www3.interscience.wiley.com|
|Deposited On:||06 Jun 2008|
|Last Modified:||29 Feb 2012 23:56|
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