The Importance of a Global Approach to Regulating Corporate Governance Essay

The Importance of a Global Approach to Regulating Corporate Governance - Essay Example Corporate Governance Corporate governance can be considered to be a recently coined term and has a significant impact on the business operations carried on by the companies (Solomon, 2011). Corporate governance is used in various ways and one particular definition is not sufficient to completely define corporate governance. Generally, a wide variety of issues that are related to the various ways through which business activities carried on by the business organisations can be directed or controlled is described through the term corporate governance (Turner, 2009, p. 5). If we look at it in a broad sense, corporate governance can be viewed as a system of codifying the conduct of business activities that are followed by different organisations. The wider issues that are related to improving the shareholders’ performance are also included in the corporate governance mechanisms followed by the companies. Certain issues that are associated with the company’s stakeholders lik e the accountability of the business firms towards fulfilling particular interests of the stakeholders are also addressed through corporate governance. Stakeholders constitute of anyone who has a relation with the company including the shareholders, customers, suppliers, employees, community, etc (Turner, 2009, p. 5). There are many theories which have evolved to address the growing development of corporate governance issues all around the world. According to Mallin (2007), some of those corporate governance theories include, the agency theory, transaction cost economics, the stakeholder theory, the stewardship theory, class hegemony, and managerial hegemony. The agency relationship is identified through the agency theory wherein one of the parties... The discussion and analysis in the paper followed in MNCs and the approach towards global corporate governance system suggest that although theoretically it can be beneficial for the companies but practically it is a challenging task. No consensus has been made as yet regarding the best system of corporate law that is suitable for all the organisations worldwide and whether the convergence of the corporate governance mechanisms followed in organisations worldwide would increase their performance. To be more specific it is still unknown as to whether a new hybrid model of corporate governance mechanism would emerge or not. The report makes a conclusion that the business environment worldwide is changing at fast rate and the corporate governance systems are required to adapt to such changes. It is quite inevitable that certain changes in the governance mechanism would occur but the big question lies behind the fact as to whether the corporate governance in a particular country would be able to successfully adapt to such changes or not. It is unlikely that some drastic change would occur to facilitate the global approach towards regulating corporate governance because the companies as well the investors are found to be reluctant to change a system that has been working well for them till now. With the increasing influence of globalisation, and with the organisational structure of MNCs becoming more and more complex, it is certain that some changes would occur in the corporate governance system.

Courtroom player Essay Example | Topics and Well Written Essays - 500 words

Courtroom player - Essay Example It is no doubt that a judge is a key figure in the courtroom; the two opposing parties in a case usually come before a judge to present their cases. The judge gives both sides the opportunity to present their version of the facts relevant to the case at hand. The judges oversee the trial and make legal decisions which may arise. In addition, they sentence convicted criminal offenders in the case of criminal cases, and make decisions regarding the outcomes of civil cases and the appropriate remedy (Arizona Supreme Court, 2010). The general responsibilities of the judges and how they perform them often raises the ethic and moral questions; the decisions that they make always border on some ethic and moral issues. Since the concept of ethics and morals are central to judges, most jurisdictions have provided ethical and moral codes that should guide the judges (Kay, 1995). That notwithstanding, judges are faced with several legal and ethical issues. The first ethical and moral issue that judges face is the issue of fairness and justice. Judges are required to make decisions that are fair and just. As such, they should use their discretion and abilities to achieve this by ensuring that every proceeding is fair and the subsequent decisions are just as fair and just. In other words, both parties should at the end be satisfied with the decision, or at least see that justice has been done. The second ethical and moral issue that the judges face is that of public confidence. Courts all over the world are considered as the places that uphold the highest level of justice, fairness and equality (Kay, 1995). This explains why individuals who are aggrieved by others use court as the last resort to seek justice, remedy, and fairness. However, factors such as historical injustices in the courts, nepotism, and corruption can greatly dent the perception that the public have about the courts. Therefore, it is very critical for judges to mainta in public confidence