[pic][pic] Corporate Governance and Performance An Exploration of the Connection in a Public Sector Context By Meredith Edwards & Robyn Clough Issues Series Paper No. 1 January 2005 Preface This paper is part of a major project - Corporate Governance in the Public Sector: An evaluation of its Tensions, Gaps and Potential. The project will provide the first comprehensive theoretical and empirical work on corporate governance in the Commonwealth public sector. It has been
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Proceedings of the 2nd International Conference on Corporate Governance Garrow A New Hypothesis on the Determinants of Acquisitions Nigel Garrow Introduction Merger and acquisition (M&A) activity is a significant factor in business in most advanced economies. According to Thomson Reuters, the value of M&A deals completed globally during the 12 months to November 2009 was US$1.8 trillion. However, the acquirers’ shareholders often lose value. Much of the literature on M&A is centred on the
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........................................................................................ 3 2. Literature Review ............................................................................................................... 5 2.1 2.2 3. 4. Corporate Governance in Australia ............................................................................. 5 Ownership Structure and Financial Performance........................................................ 6 Hypothesis ............................
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ASB Trading Enterprise 17th May 2013 Table of Content 1. Executive Summary 2. Case Study 2.1 Facts around the case 2.2 Risk Management Issues 2.2.1 Fraud Risk 2.2.2 Risk and Control Framework 2.2.3 Corporate Governance 2.3 Broader Consequence of the Case 2.4 Actions Taken by NAB after Crisis 3. Comparison to 2008 Trading Loss in SocGen 4. Conclusion: Lessons Learnt/Recommendations 5. References 1. Executive Summary: National
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CASE STUDY – LETTER FROM PRISON ETHICS 1. In an interview with the New Zealand Herald, Stephen Richards commented “World Com bankrupt, Enron bankrupt, Adelphia bankrupt. Computer Associates is a radically different environment to those.” Do you agree/disagree with Richards’ comment? Why/Why not? Discuss the ethical implications of the fraud committed at Computer Associates. In your response you should refer to Part A of the Code of Ethics of the Australian Accounting Profession discussed in
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Table of Contents Section 1 1 1.1 Company Profile: 2 1.2 Corporate Governance Disclosures, and are they sufficient? 2 1.3 Key issues that may have impacted on the company’s corporate governance performance 3 1.3.1 Glass Ceiling 3 1.3.2 Climate Change 3 1.3.3 Petroleum Accidents 4 1.4 Potential ethical considerations impacting on the company and the industry in which it operates 4 1.4.1 Petroleum Industry 4 1.4.2 Price Fixing 4 1.5 Theoretical Frameworks supporting Caltex CSR
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To describe corporate governance as a subject of topical interest would be masterly understatement. What had already become a hot topic in Australia during 2001 has since burst out across the world, involving the direct intervention of the President of the United States. I’d say that Monash University has got its timing pretty right. The interesting question is whether this initiative would have received any interest or support in Australia two years ago. There is little doubt that by the end
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Governance Case Study Impetus for Corporate Governance – Corporate governance in Australia was introduced in 2003 when the ASX Corporate Governance Council introduced the “Principles of Good Corporate Governance and Best Practice Recommendation”. The governance regulations introduced by Australia’s ASX came as a result from investors’ concerns in the quality of corporate governance, following the collapse of some major companies, such as HIH, Harris Scarfe, Ansett, and OneTel. Since the guidelines
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oversight, employees at all levels of the organization are encouraged to view risk management as an integral and ongoing part of their jobs. While there are theoretical arguments for corporate risk management,2 the main drivers for the implementation of ERM systems have been studies such as the Joint Australian/ New Zealand Standard for Risk Management, Committee of Sponsoring Organizations of the Treadway Commission (COSO) in the U.S. (in response to the control problems in the S&L industry)
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the collapse of Health International Holdings (HIH). The HIH collapse warranted a Royal Commission investigation and also recorded the biggest corporate collapse in Australia's history. Corporate failures of similar magnitude such as Enron and Parmalat have occurred elsewhere and sparked large scale investigation and media scrutiny. In all of these corporate failures, the level or absence of disclosure has had a lot to do with the unexpectedness of the collapse. This paper analyses the HIH collapse
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