Challenges in implementing corporate governance : whose business is it anyway? PDF
Preview Challenges in implementing corporate governance : whose business is it anyway?
ffffiirrss..iinndddd bb 44//1122//1100 1111::5599::2266 AAMM Advance Praise for Challenges in Implementing Corporate Governance Whose Business is it Anyway? A must-read for directors of companies in Asia who want to make sure their compa- nies are following best practice corporate governance standards. The book provides guidance of where directors should start when beginning their directorships and also is a helpful tool for the review process of how effective the Board is (or how the Board can improve). Angelina Kwan Director and Chief Operating Offi cer, Asia Pacifi c Region Cantor Fitzgerald LP I think I have learned a lot more about corporate governance and its fundamental is- sues reading this book. It is a good, comprehensive, and readable guide for directors to understand the issues relating to corporate governance. Dato Krishnan Tan CEO IJM Corporation Berhad Challenges in Implementing Corporate Governance is the most defi nitive book on corporate governance to date. John Zinkin challenges the norms on what defi nes the Board of Directors. He not only redefi nes their responsibilities but also stresses that board performance makes a difference to long-term business sustainability. The author illustrates the challenges of implementing Western-style corporate governance and why and how there is a need to go local in getting strategy and risk management right, to managing change and talent. The book looks at how defective governance implementation can destroy capital. This is a must-read for future and existing board members who are serious about their “license to operate.” Tay Kay Luan Director, International Assignments Association of Chartered Certifi ed Accountants In this book, John Zinkin challenges us with questions like “Is business ethics an oxymoron?” and provides answers to how a company can be run both responsibly and successfully. It is the right message in these turbulent times after all the fi nancial excesses of the past years. Challenges in Implementing Corporate Governance delivers valuable advice for board members on their roles and responsibilities in order to carry out their duties effectively, as well as how to avoid the most common pitfalls and man- age risk successfully. A must-read book for any board representative. Peter Vogt CEO Nestlé Malaysia ffffiirrss..iinndddd aa 44//1122//1100 1111::5599::2244 AAMM ffffiirrss..iinndddd bb 44//1122//1100 1111::5599::2266 AAMM CHALLENGES IN IMPLEMENTING CORPORATE GOVERNANCE WHOSE BUSINESS IS IT ANYWAY? ffffiirrss..iinndddd ii 44//1122//1100 1111::5599::2266 AAMM ffffiirrss..iinndddd iiii 44//1122//1100 1111::5599::2266 AAMM CHALLENGES IN IMPLEMENTING CORPORATE GOVERNANCE WHOSE BUSINESS IS IT ANYWAY? JOHN ZINKIN John Wiley & Sons (Asia) Pte. Ltd. ffffiirrss..iinndddd iiiiii 44//1122//1100 1111::5599::2266 AAMM Copyright © 2010 John Wiley & Sons (Asia) Pte. Ltd. Published in 2010 by John Wiley & Sons (Asia) Pte. Ltd. 2 Clementi Loop, #02–01, Singapore 129809 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as expressly permitted by law, without either the prior written per- mission of the Publisher, or authorization through payment of the appropriate photocopy fee to the Copyright Clearance Center. Requests for permission should be addressed to the Publisher, John Wiley & Sons (Asia) Pte. Ltd., 2 Clementi Loop, #02–01, Singapore 129809, tel: 65–6463–2400, fax: 65–6463–4605, e-mail: [email protected]. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional person should be sought. Neither the authors nor the publisher are liable for any actions prompted or caused by the information presented in this book. Any views expressed herein are those of the authors and do not represent the views of the organizations they work for. Other Wiley Editorial Offi ces John Wiley & Sons, 111 River Street, Hoboken, NJ 07030, USA John Wiley & Sons, The Atrium, Southern Gate, Chichester, West Sussex, P019 8SQ, United Kingdom John Wiley & Sons (Canada) Ltd., 5353 Dundas Street West, Suite 400, Toronto, Ontario, M9B 6HB, Canada John Wiley & Sons Australia Ltd., 42 McDougall Street, Milton, Queensland 4064, Australia Wiley-VCH, Boschstrasse 12, D-69469 Weinheim, Germany Library of Congress Cataloging-in-Publication Data ISBN 978-0-470-82522-8 Typeset in 10.5/13 Sabon Roman by MPS Limited, A Macmillion Company, Chennai, India Printed in Singapore by Saik Wah Press Pte. Ltd. 10 9 8 7 6 5 4 3 2 1 ffffiirrss..iinndddd iivv 44//1122//1100 1111::5599::2277 AAMM CONTENTS Foreword vii Acknowledgments ix Introduction xi 1 Do Western Codes of Corporate Governance Apply in Asia? 1 2 What is the Business of Business? 21 3 The Role of the Board 41 4 The Role of Board Members 59 5 Why Boards Fail and How to Avoid Failure 81 6 From Good Governance to Good Results 111 7 Managing Risk 139 8 What We Measure and Reward 169 9 Saving Capitalism from the Capitalists 187 Appendices 209 Index 237 v ffttoocc..iinndddd vv 44//77//1100 33::2266::0066 PPMM ffttoocc..iinndddd vvii 44//77//1100 33::2266::0077 PPMM
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