Open AccessCorporate governance - a subject whose time has come
Author(s) -
Bob Tricker
Publication year - 2005
Publication title -
corporate ownership and control
Language(s) - English
Resource type - Journals
eISSN - 1810-0368
pISSN - 1727-9232
DOI - 10.22495/cocv2i2p1
Subject(s) - corporate governance , subject (documents) , business , accountability , alliance , power (physics) , corporate security , accounting , corporate law , law and economics , corporate social responsibility , public relations , political science , economics , law , finance , computer science , library science , physics , quantum mechanics
The metamorphous of corporate governance has yet to occur. Present practice is still rooted in a nineteenth century legal concept that is totally inadequate in the emerging global business environment. Present theory is even less capable of explaining coherently the way that modern business is governed. What is needed is a vibrant alternative way to ensure that power is exercised, over every type and form of corporate entity and strategic alliance around the world, in a way that ensures both effective performance and appropriate social accountability and responsibility. Unfortunately, the most likely driver of further rigorous development in corporate governance is likely to be the next round of alleged board level excesses and corporate collapses, whatever the causes.