AC 557 Unit 2 Assignment - Assignment Case Analysis...

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Strategic Management: Concepts and Cases: Competitiveness and Globalization
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Chapter 1 / Exercise 8
Strategic Management: Concepts and Cases: Competitiveness and Globalization
Hitt/Ireland
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Assignment Case Analysis: Corporate Governance at Citic Pacific In this case, you will look more closely at corporate governance. You will specifically learn that we need corporate governance in an organization and how this controls different decisions. You will look also at the internal and external types of mechanisms. In addition to the requirements for the analysis of a case study covered below, please specifically answer the following questions: 1. What does corporate governance mean? How is it used to monitor managers’ strategic decisions? 2. What are the kinds of internal and external corporate governance mechanisms, and how are they used to control management decisions? 3.Were the corporate governance standards at Citic Pacific sufficient? Have the board and the independent directors on its audit committee carried out their responsibilities suitably?
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Strategic Management: Concepts and Cases: Competitiveness and Globalization
The document you are viewing contains questions related to this textbook.
Chapter 1 / Exercise 8
Strategic Management: Concepts and Cases: Competitiveness and Globalization
Hitt/Ireland
Expert Verified
In 1987 Rong’s oldest son Yung became Citic’s general manager as well as the vice-president. Soon after Yung headed to hong Kong and was placed in charge of “CITIC Hong Kong (holdings) Ltd” (“CITIC HK”) which was Citic’s newly launched investment subsidiary in Hong Kong. This company was traded publicly through the Hong Kong Stock Exchange (HKEx) and at the time was considered a prime “Red Chip” In 1991 stakes were acquired in Cathay Pacific and a Macau telecommunications company. From there CITIC HK placed some assets into the company Tylfull which is a public listed company and renamed the conglomerate “Citic Pacific”, with Yung as chairman. The situation happened in October of 2008 and the situation was a loss due to foreign exchange exposures. Even though this information was known six weeks earlier they failed to inform the investors.Corporate GovernanceThe meaning of corporate governance is a system of checks and balances between management and all other connected parties with the aim of producing an effective, efficient, and law-abiding corporation (Biegelman &Bartow, 2012). Corporate governance is used to monitor

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