Unformatted text preview: Task 2
Define corporate governance
Corporate governance can be described as the prefabricated system regarding different
rules, processes and practices that has been controlled and direct by a firm. It involves
The into balancing the interest of key stakeholders about their respective organization.
Company shareholders, customers, employees, management, financiers and entire
community behind the organization are several pats of an entire stakeholder group
(Tricker, 2016). Corporate governance mainly incorporates with the different sphere of
the management of an organization since it is closely associated with the business
goals and objectives of an organization.
Corporate governance assists at deriving internal controls in addition with conducting
specific action plans for a particular incident. Governance directly refers towards the
unique set of rules, regulations, inventory controls at certain extension. In addition to
that, the key perspectives of corporate governance are also closely associated with
dictating human behaviour at the workplace (Mccahery et al., 2016). Both shareholders
and proxy advisors are important components of corporate governance as a whole.
Major ramifications regarding equality valuation is another key component of corporate
Brief history of corporate governance in the UK with examples
The corporate governance of UK has constantly influence the rules and regulations of
entire United States and European Union for several years. The government of UK has
tried to improve the overall corporate governance in their country by applying a set of
different legislative measures in addition with some codes of conducts that are semi-
voluntary. The key aspects of corporate governance took off in UK at the early of 1990
and it had gone through several revolutions. At the first part of 1992, The Cadbury
Code can be demonstrated as the first attempt towards shaping corporate governance
(Yermack, 2017). After that, there were several codes like Combined Code of 1998,
The 2003 Combined Code has really shape out the nature of corporate governance in
the premises of United Kingdom.
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- Spring '17