A widely used definition of corporate governance has been developed by the Organisation of Economic Co-operation and Development (OECD):
“Corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined. Good corporate governance should provide proper incentives for the board and management to pursue objectives that are in the interests of the company and its shareholders and should facilitate effective monitoring.” OECD (2004): OECD Principles of Corporate Governance, p. 11.
There is a variety of corporate governance codices. Those covered by GRC Resource are listed at the bottom of this page.
|Mallin, Christine A. (2007): Corporate Governance (Second Edition). Oxford: Oxford University Press.|
|Already in its second edition, Christine A. Mallin’s book “Corporate Governance” provides a high-level overview on the topic. Starting with the theoretical aspects of corporate governance – agency theory, separation of ownership and control, transaction cost economics, stakeholder and stewardship theory – the book is strong in explaining the development of corporate governance codes, the relationships of owners, stakeholders and the board, and the issues arising thereof. However almost half of the about 300 pages are going to be flipped through by the average reader, as they describe corporate governance in 16 countries of the world. Not only can the nuances of the country-specific corporate governance legislation and practices not be worked out in detail, but also North America is completely left away. If this part of the book is to be used as a work of reference, it should at least be complete. ”Corporate Governance” is a good first in-depth read on the topic, but only the first half (chapters 1-9) is actually useful for the average reader. [Buy from Amazon.com]|