Corporate Governance Harvard Business Review Essentials

Author: Walter J. Samuelson
Publisher:
Publish Date: 2001-01-01
Features: In modern enterprises, the board of directors plays a fundamental role in corporate governance. However, from a modern economic perspective, the board faces three major obstacles in fulfilling its functions and responsibilities: adverse selection, moral hazard, and information transmission mechanism design. The Company Governance explores and investigates these three issues, with the goal of designing mechanisms and measures to create value-maximizing boards. Preventing Crisis: How to Enhance Board Effectiveness summarizes 22 questions to assess board efficiency. Empowering the Board delves into the core issue of how to prevent the board from being controlled by insiders. The Future of Governance-Focused Companies compares the advantages and disadvantages of traditional manager-controlled companies with emerging or evolving governance-focused companies, analyzing the work needed to improve such governance structures. In Redefining the Boundaries Between the Board and the CEO, several corporate chairmen or CEOs share their personal experiences to discuss the functional division between the board and management. Currently, in corporate law reforms across countries worldwide, the board of directors has been a core focus. This book provides an excellent discussion of various aspects of board mechanisms and board reforms, which will greatly benefit the improvement of corporate governance structures, especially the mechanisms of the board, in China.