International Corporate Governance
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In Chapter 2, we discussed corporate governance in theory and in practice in the United States. In essence, the shareholder approach is utilized in most corporate settings, that is, the belief in most boardrooms that the major, if not exclusive, duty of a corporation is to maximize the profits for its shareholders. We have seen that the theory is undergoing fundamental changes due to recent legislative enactments, especially the Dodd-Frank Act, and the rise in influence of large institutional investors. In this chapter, we will review types of stakeholder models that are applied in non-U.S. corporate settings.
KeywordsCorporate Social Responsibility Corporate Governance Audit Committee Business Enterprise Supervisory Board
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