According to board structure, the difference of corporate governance among different countries is may be unitary or dual board on the country. In the UK and the USA, a unitary board of directors in the form of board structure, characterized by one single board comprising executive and non-executive directors. (Aguilera, 2003) It is responsible for all aspects of the activities of the corporation. A dual board of directors is including a supervisory board and executive board of management. Nevertheless
2.0 Agency Theory and Corporate Governance Corporate Governance is a term used to refer to the processes, policies, regulations and customs by which a corporation is directed, administered and controlled. Corporate governance has been an integral part of the business practice since the creation of corporate structure and separation of ownership from control (Aguilera & Jackson, 2010). Corporate governance specifies the responsibilities and rights of various stakeholders in the organization, e.g
output. This writing is a personal reflection stating my meaning of governance explained by the first-hand encounter including risks associated with it and my social responsibility towards it. “Governance can be generally defined as the means by which an activity or ensemble of activities is controlled or directed, such that it delivers an acceptable range of outcomes according to some established standard” (Hirst, P, 2000). Governance consists of rules and practices associated with those rules, set
shareholders, where the managers (acting as agents for the shareholders, or principals) are required to work towards maximising the benefits and wealth of the shareholders
Enron Corporation, WorldCom incorporated failure and a good number of other corporate financial scandals, issues of corporate governance became the focus of public discussion, as poor governance practice was identified as a major contributor to most of the failures. Furthermore, the tragic event of the Russian financial scandal and Asian financial crisis brought global attention to the crucial roles of good corporate governance practice in ensuring soundness of financial services and financial sector
been influenced by the resource based view theory for the last 20 years. This theory suggests that the specific type of diversification strategy depends on the resources and capabilities of the firm. The resource based view (RBV) provides an internal perspective that stresses the motivation firms have to maximize their provisioning of resource and capabilities for diversifying into related businesses (Wan et al, 2011). Generally, the resource based theory observes the firm from the resources point
CHAPTER TWO: REVIEW OF RELATED LITERATURE This section presents a brief review of existing theoretical and empirical literature of tax and tax administration. This review of literature establishes the framework for the study and high lights the noticeable strength and weakness of previous studies, which in return help in clearly identifying the gap in the literature and formulating the research question for the study. 2.1. Definitions and Concepts of Tax Taxes are a portion of private wealth, exacted