Ch_4_corp_gov - Corporate Governance: Owner Stakeholder...

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Corporate Governance: Owner Stakeholder Issues Revised by Dr. Mayer Cleveland State University Chapter 4 0
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I. Corporate Governance and Legitimacy II. Criticisms of Corporate Governance III. Improving Corporate Governance Chapter 4 Outline
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Introduction to Chapter 4 Who is most important stakeholder group? Shouldn’t stockholders be a company’s cheerleaders, their most ardent supporters? 0
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Is This Legitimate? For Whose Benefit is Corporation Run?
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For Owners/Shareholders or Top Management? . . . .
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I. Corporate Governance and Legitimacy Corporate Governance Methods by which corporations are directed and controlled to respect Roles of owners, boards of directors, managers, and employees.
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The Corporation’s Hierarchy of Authority State Charter Shareholders Board of Directors Management Employees Figure 4-1 0
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What group should be in control? Separation of Ownership from Control Precorporate Period Corporate Period Owners (ownership) Managers (control) Shareholders (ownership) Board of Directors Management (control) Owners are the managers. 0
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II. Criticisms of Corporate Governance A. Ineffective boards of directors Rubber stamps for management Dominated by CEO Plagued by conflicts of interest
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1) the extent to which CEO pay is tied to firm performance . . . . 2) the overall size of CEO pay
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This note was uploaded on 04/28/2011 for the course MKT 351 taught by Professor Mayer during the Spring '11 term at Cleveland State.

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Ch_4_corp_gov - Corporate Governance: Owner Stakeholder...

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