The Impact Of Corporate Governance On The Uk

1865 Words Mar 28th, 2015 8 Pages
to performance measurement. However, the Walker Review (2009) classifies that the role of the corporate governance as protection of shareholders’ interests by providing the company’s strategic conduct and overseeing capable managers to achieve it.

Robert E. Wright (2014) argued that the corporate governance in the late 19th and early 20th century, were run like ‘republics’ with many checks and balances against fraud and seizing power of managers or large shareholders. Governance goes back as there were always implementation of standards, regulation of prices as well as entry to trades. The pillar for modern company law is the concept of ownership and shareholder rights as this is identified by Tricker (2012). During the time from 17th and 18th centuries the corporate collapses led to imprisonment of directors, which then led to a development in the research into corporate governance. The key stages of the evolution of corporate governance in the UK: 1998 – The Combined Code of Corporate Governance, 1999 – Turnbull Guidance on Internal control, 2010 – Stewardship Code, 2013 – Companies Act 2006, (Corporate Governance Review, 2013). ‘After more than two decades of evolving governance guidance in the UK, many of us may be wondering if there is anything left to improve,’ Simon Lowe.

During the recession in 2007, there were crucial corporate governance issues that were raised. There was more priority on the corporate governance approach on the risk, risk management and internal…
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