As of 1 January 2010 directors and company management in Vietnam face an entirely new level of liability for violations of the Securities Law. Already burdened with a great deal of personal liability for ensuring the proper conduct of their responsibilities, management in Vietnam may now be arrested and imprisoned for their actions. (more…)
This paper studies the connection between the tax management and corporate governance. It examines ways in which they interact in order to objectively explain the relevance of taxation in the capability of a company to improve their value, in benefit of its shareholders. The objective of the paper is to promote a debate in one of the less studied areas in corporate governance by presenting the lecturers diverse situations and aspects regarding the role of taxation in grounds of what it is considered good corporate governance. (more…)
Corporate Governance Rules in Argentina – Introduction
The concept of “Corporate Governance” as such, came about in Argentina in 2000 (just before the massive devaluation of the Argentine peso and crisis of its stock market) with the enactment of decree No 677/2001 (the “Transparency Decree”). Before, the concept of “Corporate Governance” had not been envisaged in Argentine legislation.
The idea of the Transparency Decree was to strengthen the argentine stock market (and boost confidence in such market) by setting forth certain rules (corporate governance rules) that would provide more security to investors. (more…)
Business formation and management in China has a long and winding history tracing back thousands of years. It went through ancient private development, the more recent communist planned economy and now the process of re-privatization. In the current stage, China has a mixed private and state-owned economic structure, a step in the transition to a more complete market economy. Given the increasingly open market economy, the CPC still retains firm control of all Chinese political matters, which unavoidably involves state control of certain major industries, and to a lesser extent, the economy as a whole. (more…)
The recent amendments of the 2004 Italian Company law (the “Reform”), have introduced, inter alia, a number of interesting developments with reference to limited companies in Italy, in particular to the Italian S.R.L. companies (Società a responsabilità limitata), modifying the relevant provisions of the Italian civil code, and limiting them to those institutions with a more limited number of members (linked very often – but not necessarily – by a sort of “intuitus personae”), whilst the S.P.A. (società per azioni) better refers to wider company body. (more…)
Following the high profile losses suffered by the banking industry in 2008 and the general kickback which has occurred in relation to remuneration policies of executives, both in the banking industry and more generally, there are likely to be very significant changes in the way publicly traded companies in the UK, ie companies whose shares are traded on the Official List of the London Stock Exchange, are governed in the next 18 months. (more…)
The term “corporate governance” has been typically described, in the world, as a set of rules and proceedings approved in order to enhance the efficiency of companies by better controlling administration and management. Within its scope, are embraced not only factors connected with the activity of corporate officers but also the ones involving shareholders. (more…)
In the current economic situation, when increasing number of companies suffer loss and are in financially challenging situation, the issue of actual management`s responsibility thereof has become more topical than ever. Accordingly this article will further evaluate to what extent the management can be held liable for the company`s business, the means of that, as well as possibility to limit such liability.
It is interesting to note that in any court case having a tangent shadow concerning corporate governance (CG), each party will assert its acts are just following the principles of CG so that it does not violate any applicable law. It is still more interesting to learn that although each party in a lot of such court cases alleges its compliance with the principles of CG, the various courts do not comment much on what CG means, which acts follow or violate principles of CG, how the spirits of CG could be presented, where the disputes over CG are, when CG shall be serious dealt with, whether a case is directed to a resolution of CG and/or whose assertion in respect of CG is viable. (more…)