Description |
1 online resource (296 pages) |
Series |
Routledge Research in Corporate Law |
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Routledge research in corporate law.
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Contents |
Cover; Title; Copyright; Contents; Preface; 1 Introduction; Companies; Boards and management; Corporate governance; The issue of accountability: an introduction; Who is accountable?; The direction of the book; 2 What Is Accountability?; Introduction; The position and power of the board of directors; Defining accountability; Types of accountability; The role of accountability; Defining accountability in corporate governance; Types of accountability in corporate governance; Conclusion; 3 Why Do We Need Accountability?; Introduction; Agency problems; The nature of boards |
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Shareholder vulnerabilityLegitimating power; Reduction in regulation; Benefit efficiency and decision-making; Enriches board members; Public interest; Reflections; Conclusion; 4 To Whom Is the Board Accountable?; Introduction; To whom are duties owed; The broader issue; Accountability to shareholders; Accountability to stakeholders; Accountability to the company; A second board; Accountability to others; Accountability within the board?; Conclusion; 5 The Objectives of Accountability; Introduction; The ultimate objective; Sub-objectives; Objectives and the objective of the company; Conclusion |
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6 For What are Boards to Account?Introduction; General; Finances; The use of company resources; Company objectives; Company performance; The actions of its committees; Regulation and constitution; The actions and performance of the managers; Risk management; Social and wider issues; Sustainability; Approval of conflicts; Conclusion; 7 Accountability Mechanisms; Introduction; General; The mechanisms; Regulators; Social norms and ethics; Regulation; Conclusion; 8 Accountability: Limits, Obstacles and Drawbacks; Introduction; Defining/setting the limits; Costs and time; Inefficiency |
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The timing of accountingHarming the business; Short-termism; Board life; Expectations gap; Business judgements of directors and judicial deference; Lack of shareholder engagement; Multiple mechanisms; Board attitude; Damaging trust; Uncertainty concerning the extent of accountability; Conclusion; 9 Balancing of Accountability and Power/Authority; Introduction; Authority; Emphasis on authority; Concerns over review; Are accountability and authority irreconcilable?; The balance; Increasing accountability; A case study; Conclusion; 10 Conclusion; Index |
Summary |
Within corporate governance the accountability of the board of directors is identified as a major issue by governments, international bodies, professional associations and academic literature. Boards are given significant power in companies, and as a consequence it is argued that they should be accountable for their actions. Drawing on political science, public administration, accounting, and ethics literature, this book examines the concept of accountability and its meaning in the corporate governance context. It examines the rationale for making boards accountable, and outlines the obstacle |
Notes |
Print version record |
Form |
Electronic book
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ISBN |
9781317910701 |
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1317910702 |
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