Corporate Governance : A North American Perspective

Corporate Governance : A North American Perspective

The recent wave of US corporate governance failures prompted a round of legal and regulatory reform which has attracted worldwide attention. The author's essay puts the debate into a wider context for the US. The missing link here is the right...

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Bibliographic Details
Main Author:	World Bank
Format:	Brief
Language:	English
Published:	Washington, DC 2012
Subjects:	ACCOUNTABILITY ANTITRUST LAW ARTICLES OF INCORPORATION AUDIT COMMITTEES AUTHORITY BANKS BOARD MEMBER BUSINESS COMMUNITY BUSINESS CORPORATION BUSINESS LAWYER BUSINESS SECTOR CAPITAL MARKETS CEO CEOS CHARTER COALITIONS COMMON LAW COMMON LAW SYSTEM COMPANY COMPENSATION PACKAGE COMPENSATION POLICIES COMPETITIVE ENTERPRISE CONFLICTS OF INTEREST CONGRESSMAN CONVENTIONAL WISDOM CORPORATE CONSTITUENCY CORPORATE CONTROL CORPORATE COUNSEL CORPORATE DIRECTORS CORPORATE FORM CORPORATE GOVERNANCE REFORM CORPORATE LAW CORPORATE MANAGERS CORPORATE PENSION CORPORATE POWER CORPORATIONS DECISION-MAKING DECISION-MAKING PROCESSES DELAWARE DELAWARE GENERAL CORPORATION LAW DISCRIMINATION EXCHANGE ACT FEDERAL LEGISLATION FIRMS FOREIGN COMPANIES FULL DISCLOSURE GLOBAL CORPORATE GOVERNANCE GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE FAILURES GOVERNANCE GUIDELINES GOVERNANCE SYSTEM INCORPORATION INDIVIDUAL COMPANIES INSTITUTIONAL CAPACITY INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTITUTIONAL SHAREHOLDER INSTITUTIONAL SHAREHOLDERS INVESTOR PROTECTION JUDICIARY LARGE COMPANY LAWYERS LEGISLATION LIMITED LISTED COMPANIES MAJORITY VOTE MAJORITY VOTES MAJORITY VOTING MANAGERS MOTIVATIONS NATIONAL ASSOCIATION NUMBER OF SHAREHOLDERS PERFORMANCE MEASURES POLITICAL POWER PRIME MINISTER PRIVATE COMPANIES PROPRIETARY PROXY PROXY MATERIALS PROXY SEASON PROXY STATEMENTS PUBLIC COMPANIES PUBLIC DEBT REGULATORY REFORM SENATE SHARE OPTIONS SHAREHOLDER SHAREHOLDER APPROVAL SHAREHOLDER INTERESTS SHAREHOLDER MEETING SHAREHOLDER PROPOSALS SHAREHOLDER RESOLUTIONS SHAREHOLDER RIGHTS SHAREHOLDER VOTES SHAREHOLDER VOTING SHAREHOLDERS SOCIETY SPONSORS STAKEHOLDER STOCK EXCHANGE STOCK OPTIONS STOCKHOLDERS SUBSIDIARY TAKEOVER TAKEOVER THREATS TAKEOVERS TRANSITION ECONOMIES TRANSPARENCY UNION VETO
Online Access:	http://documents.worldbank.org/curated/en/2006/05/7287395/corporate-governance-north-american-perspective http://hdl.handle.net/10986/11186

Description
Summary:	The recent wave of US corporate governance failures prompted a round of legal and regulatory reform which has attracted worldwide attention. The author's essay puts the debate into a wider context for the US. The missing link here is the rights of the shareholders in the US who have comparatively weaker rights than shareholders in some other countries, thereby making it difficult for shareholders to hold boards to account without prohibitive cost and effort. The message is that law and regulation must be seen to complement, and to facilitate market action, but not to substitute for it. That is a valuable insight from the author who is one of the world's most experienced and thoughtful corporate governance practitioners.

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