Abstract
Poor corporate governance is the most widespread reason why a business gets into trouble. Substandard management manifests itself in many ways: for instance, by paying only lip service, or no attention at all, to forecasting and planning; failing to take account of changes in the marketplace and to position the company against market forces; falling behind advances in technology; and lacking sensitivity to product obsolescence. The consequence is top management turnover. The average tenure of a chief executive in America declined from nearly nine years in 1890 to just over seven in 2001,’ The Economist suggests.1
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Notes
D.N. Chorafas, Management Risk: The Bottleneck is at the Top of the Bottle, Palgrave Macmillan, Basingstoke, 2004.
D.N. Chorafas, Operational Risk Control with Basle II. Basic Principles and Capital Requirements, Butterworths-Heinemann, London and Boston, 2004.
Some of the aspects of Basle II with relevance to this text are highlighted in Chapter 2. See also D.N. Chorafas, Economic Capital Allocation with Basle II. Cost and Benefit Analysis, Butterworths-Heinemann, London and Boston, 2004.
Basle Committee on Banking Supervision, Public Disclosure by Banks: Results of the 2000 Disclosure Survey, Bank for International Settlements, Basle, May 2002.
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© 2004 Demitris N. Chorafas
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Chorafas, D.N. (2004). Principles of Corporate Governance. In: Corporate Accountability. Palgrave Macmillan, London. https://doi.org/10.1057/9780230508958_1
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DOI: https://doi.org/10.1057/9780230508958_1
Publisher Name: Palgrave Macmillan, London
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