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UNIVERSAL CORPORATE GOVERNANCE STANDARDS: RECOMMENDATIONS FOLLOWING THE GLOBAL FINANCIAL CRISIS

Ronald H Mynhardt

DOI: 10.22495/cocv11i3conf2p5

Abstract

Corporate governance can be defined as: the set of processes, customs, policies, laws and institutions affecting the way a company is directed, administered or controlled. Suggestions were investigated that the global financial crisis revealed severe shortcomings in corporate governance. Research was conducted to establish whether these suggestions are accurate. The study found that it appeared that corporate governance has failed and action needs to be taken. The study recommends that a world supervisory body on corporate governance be established. It also proposes that a summit be called to discuss and create such an authority. In addition, the formulation of a set of universal corporate governance standards for implementation by the members was suggested.

Keywords: Board of Directors, Corporate Governance, Corporate Governance Standards, Global Financial Crisis, Regulatory and Supervisory Activities, Shareholders, Stakeholders, Sustainability

How to cite this paper: Mynhardt, R. H. (2014). Universal corporate governance standards: recommendations following the global financial crisis. [Conference issue]. Corporate Ownership & Control, 11(3-2), 438-446. http://doi.org/10.22495/cocv11i3conf2p5

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