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3. 25 Landmarks in Corporate Governance

3. 25 Landmarks in Corporate Governance

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Published by m_dattaias

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Published by: m_dattaias on Jan 24, 2010
Copyright:Attribution Non-commercial


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Landmarks in the Emergence of Corporate Governance 
Corporate GovernanceCommittees
Over a period of time, a change had come inthe perception of people about corporategovernance from the exclusive benefits of shareholders to the benefit of all stakeholders.
Corporate governance gained importance inthe US after the Watergate scandal thatinvolved US corporates making politicalcontributions and offering bribes to governmentofficials
In England, seeds of modern corporate governance weresown in the aftermath of the Bank of Credit andCommerce International (BCCI) scandal. BCCI, a globalbank was made up of holding companies, affiliates,subsidiaries, banks-with-in-banks. The BCCI entitiesflagrantly evaded legal restrictions in the movement of capital and goods almost on a daily routine.
Barings Bank, Britain’s oldest merchant bank failedbecause of unhealthy trades on behalf of its customersand lost $1.4 billion and pulled its shutter down.

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