Corporate governance is a relatively new topic, but one which has gained public prominence, interest and importance as a result of several well publicised corporate disasters, such as Maxwell Communications, Coloroll and Polly Peck. In the UK alone there have been three reports published since 1992 which consider aspects of corporate governance ‐ the Cadbury Report (1992), the Greenbury Report (1995) and more recently the Hampel Report (1997). Despite this, there is still no accepted definition of the term, although it is generally accepted that corporate governance covers the way a company’s board of directors should behave towards their shareholders, auditors, employees and financiers as well as to their wider environment.
Different countries can have widely differing corporate governance regimes which can cause problems for companies seeking to set up operations overseas, or for individuals asked to act as a director in a foreign company. This handbook therefore aims to “provide an overall view of the corporate governance procedures in each country represented”. In all, 31 countries are covered. A standard format has been followed for each country and information is presented on appointment and duties of directors, board meetings, the liability of directors for their actions, dealings between the company and its directors, financial responsibilities, reporting to shareholders and employees’ rights to information.
This is a useful reference book for anyone wishing a quick guide to the responsibilities of company directors in the major trading nations of the world ‐ with the proviso, of course, that every time there are new standards, the challenge for certain kinds of companies is to find a way round them!
