Board accountability in corporate governance / Andrew Keay.
2015
K1327 .K428 2015 (Map It)
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Items
Details
Author
Title
Board accountability in corporate governance / Andrew Keay.
Published
Milton Park, Abingdon, Oxon [UK] ; New York, NY : Routledge, 2015.
Call Number
K1327 .K428 2015
ISBN
9781315849713 (hbk.)
1315849712 (hbk.)
9780415725538 (ebk.)
0415725534 (ebk : alk. paper)
9780415725538 (ebk : alk. paper)
1315849712 (hbk.)
9780415725538 (ebk.)
0415725534 (ebk : alk. paper)
9780415725538 (ebk : alk. paper)
Description
xi, 283 pages ; 24 cm.
System Control No.
(OCoLC)898334337
Bibliography, etc. Note
Includes bibliographical references and index.
Record Appears in
Gift
Purchased from the income of the Fisch Fund
Gift
The Arthur W. Diamond Law Library
Purchased from the income of the Fisch Fund
Table of Contents
Preface
x
1.
Introduction
1
Companies
2
Boards and management
6
Corporate governance
15
The issue of accountability: an introduction
19
Who is accountable?
30
The direction of the book
30
2.
What Is Accountability?
33
Introduction
33
The position and power of the board of directors
34
Defining accountability
36
Types of accountability
53
The role of accountability
56
Defining accountability in corporate governance
57
Types of accountability in corporate governance
68
Conclusion
69
3.
Why Do We Need Accountability?
71
Introduction
71
Agency problems
72
The nature of boards
83
Shareholder vulnerability
91
Legitimating power
95
Reduction in regulation
102
Benefit efficiency and decision-making
103
Enriches board members
104
Public interest
107
Reflections
108
Conclusion
109
4.
To Whom Is the Board Accountable?
111
Introduction
111
To whom are duties owed
113
The broader issue
118
Accountability to shareholders
119
Accountability to stakeholders
135
Accountability to the company
150
A second board
153
Accountability to others
168
Accountability within the board?
169
Conclusion
170
5.
The Objectives of Accountability
172
Introduction
172
The ultimate objective
173
Sub-objectives
174
Objectives and the objective of the company
177
Conclusion
178
6.
For What are Boards to Account?
179
Introduction
179
General
180
Finances
182
The use of company resources
183
Company objectives
183
Company performance
184
The actions of its committees
185
Regulation and constitution
185
The actions and performance of the managers
185
Risk management
187
Social and wider issues
188
Sustainability
189
Approval of conflicts
190
Conclusion
190
7.
Accountability Mechanisms
192
Introduction
192
General
193
The mechanisms
199
Regulators
237
Social norms and ethics
237
Regulation
238
Conclusion
241
8.
Accountability: Limits, Obstacles and Drawbacks
242
Introduction
242
Defining/setting the limits
242
Costs and time
244
Inefficiency
246
The liming of accounting
248
Harming the business
248
Short-termism
248
Board life
250
Expectations gap
251
Business judgements of directors and judicial deference
252
Lack of shareholder engagement
253
Multiple mechanisms
254
Board altitude
256
Damaging trust
257
Uncertainty concerning the extent of accountability
258
Conclusion
258
9.
Balancing of Accountability and Power/Authority
259
Introduction
259
Authority
260
Emphasis on authority
261
Concerns over review
266
Are accountability and authority irreconcilable?
267
The balance
270
Increasing accountability
272
A case study
273
Conclusion
275
10.
Conclusion
277
Index
280