CG_Lec_20Jan2012

CG_Lec_20Jan2012 - The Role Government and Corporate...

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The Role Government and Corporate Governance 20 th Jan 2012
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2 The Govt and CG The Classical Economists: Die-hard admirers of the capitalism says that: Government should get out of the way and let the market function. However; The Enron saga and other larger companies collapse Govt response…….S-OX Act (2002) and CG reforms Current financial melt-down……….Companies looked back to govt. For example, automobile sector, banking sector etc. Got a lot of public money to get the things going…. Hence; Proves that govt has a role
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3 The Govt and CG Roles of Govt in the Economy: There are four important roles: The regulatory role The promotional role The entrprenueral role The planning role
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4 The Govt and CG Roles of Govt in the Economy (Cont’d): The regulatory role: Govt regulatory role involves direct controls and indirect controls- a direct relationship b/w business and govt such as granting of license…. . formulating policies/incentives, which may have impact on the Cos Granting of charters, a franchise, permitting any person to use public facilities, etc. in short, the govt may determine the conditions under which persons or corporations. Various fiscal and monetary and other incentives and disincentives or penalties such as imposing high import duties etc
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5 The Govt and CG Roles of Govt in the Economy (Cont’d):
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CG_Lec_20Jan2012 - The Role Government and Corporate...

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