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Corporate Governence, Terms - Coggle Diagram
Corporate Governence
BOD
Role
monitoring
evaluate and influence
initiate and decide
Resonsibilities
effective leadership
risk vs initiative
sustainbility
succession
strategic direction
Degree of involvement
Phantom
minimal
nominal
active
catalyst
rubber stamp
Composition
inside
outside
affiliate
suppliers - anyone having paid by firm in last 3 yrs
family
retired
Performance theories
stewardship theory
agency theory
successful boards common points
selection criteria - strategic needs
deep understanding of business - oversight of management
no quick fix - realistic goals
Top Management responsibilities
present strategic vision
identifies people to follow that vision
gives confidence that identified people do have high stand
What it is ?
managing relationship between stakeholders
decide and control the strategic direction of the company
Stakeholders
primary
secondary
Terms
interlocking directorate
direct
indirect
SOX 2002
protect shareholders from excess oversight - after enron
Codetermination