A Board Culture of Corporate Governance

May 29th, 2015
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Adelphi University
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Set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled. Kautilya’s(Chanakya) Arthashastra is the oldest book (around 300 B.C) onManagement available to the world This masterpiece covered a wide range of topics and also recommended that the king shall not consult with any advisor who had a vested interest in the outcome of a particular project.

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Set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled. Kautilyas(Chanakya) Arthashastra is the oldest book (around 300 B.C) onManagement available to the worldThis masterpiece covered a wide range of topics and also recommended that the king shall not consult with any advisor who had a vested interest in the outcome of a particular project. establishment of an ethical code of conducta topic which has received a great deal of attention now during the past few years after corporate scandalsthe codification of accounting rules into one uniform system to prevent problems in translating financial data between disparate methods of accounting a subject which the international accounting community is dealing with in terms of the convergence of accounting standards. In the western world The East India Company introduced a Court of Directors, separating ownership and control (U.K., the Netherlands) in 1600sIn 19th century, state corporation laws enhanced the rights of corporate boards to govern without unanimous consent of shareholders. Has been a subject of debate since the late 70sEarly 2000s, the massive bankruptcies (and criminal malfeasance) of Enron and WorldCom, led to increased shareholder and governmental interest in corporate governance.Corporate is adjective meaning of or relating to a corporation derived from the noun corporation.A corporation

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