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A CODE FOR CORPORATE PRACTICES AND CONDUCT: RESHAPING COMPANY BOARDS?
Author(s) -
ARTHUR NEAL
Publication year - 1991
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.1991.tb00498.x
Subject(s) - accounting , shareholder , commission , business , code of conduct , corporate law , corporate governance , code (set theory) , listed company , set (abstract data type) , finance , law , political science , computer science , programming language
A set of proposals on corporate conduct, prepared under the auspices of the National Companies and Securities Commission, was widely circulated for discussion during 1990 and issued in its final form in December. The proposals constitute a self‐regulatory code which may significantly influence the control and decision‐making structures of listed companies, particularly through its guidelines on the composition of the board of directors. This paper concludes that there is evidence that further regulating board memberships could impose costs on shareholders of companies which favour certain board structures.