Corporate Governance Worldwide – Dr. Güler Manisalı Darman

In the 20th century, modern corporations became one of the world’s dominant
institutions. Consequently, the way they do business is now under close
scrutiny. The relationship between ownership structure, performance and the
demands of society requires that companies exercise a high degree of diligence
in their governance. Business’ commitment to sustainable development
requires the integration of good corporate governance practices into regular
business activities.

The essence of corporate governance is improved performance, which will
eventually lead to job creation, wealth and consumer welfare. Recent corporate
scandals and failures, each stemming from diferent causes, have accentuated
the importance of good governance practices. The decline in public trust has
to be restored. Companies and institutions cannot afford to have their
reputations tarnished by inadequate oversight, lack of transparency and
irresponsible business conduct, nor can national economies continue to sufer
from laxity and fraud in corporate activities. The turmoil resulting from poor
corporate governance can lead to sharp share price declines that can destroy, in
a matter of hours, market values built up over years. In the aftermath of recent
corporate scandals, it is now recognized that good corporate governance aligns
with the interests of all parties involved in the functioning of a company.

This book is a practical guide for directors, managers, accountants, lawyers
and academics: in short, anyone with an interest in corporate governance and
how to achieve it. It discusses the responsibilities of the board and the growing
role of institutional investors as shareholders, as well as the importance of
transparency and accountability, the two main pillars of good corporate
governance. It can help companies meet real-world expectations of good
practices.