Professional Documents
Culture Documents
Requirement
Of
Good
Corporate
Governance
According to the Australian standard on corporate governance (AS8000, 2003),
it requires a structural component requiring identification of requirements,
requirements of laws, codes, best practice, links to risk-requirement, and
reporting, so as to create a functioning series of systems and a maintenance
component requiring education and training, communications monitoring,
assessment, review, liaison and accountability. But, note that corporate
governance has neither a static, nor a prescribed form. The Australian standard
says, "there is no single model of corporate governance" (AS8000, 2003). The
OECD principles of corporate governance (OECD, 2004) says "To remain
competitive in changing world, corporations must innovate and adapt their
corporate governance practices so that they can meet new demands and grasp
new
opportunities.
review of the compensation arrangements for the chief executive officer and
other senior executives
the way in which individuals are nominated for positions on the board
and
society
in
general.
the
communities
in
which
they
operate.
appoint,
supervise
and
remunerate
senior
executives
and
to
ensure
Employees
(3)
Shareholders
(2)
specific skills. These in turns are less transferable from one company to another.
For example in France, the union rights are extended to all employees regardless
of union affiliation. Here unionization will have greater influence on corporate
decision making than in U.S or U.K where only union members benefits from
collective bargaining agreements. Japanese companies tend to have enterprise
unionism, which leads to collective bargaining at company level, and grant a
strong voice to employees. In 2004 for example employee opposition to job
losses prevented the restructuring via. Merger with a foreign partner of France
who is financially troubled Alston, a major producer of ships and trains. In the
same year Volkswagen despite suffering from very high labour cost had to
promise its Western Germany employees job security until 2011 in exchange for
a wage freeze until 2007 and more flexible working hours. The company workers
wield considerable power partly through co-determination rights that require
employees to be consulted on corporate decision.
LEARNINGS
FACT&FINDINGS
1. According to the survey most of the customers of WIPRO ltd says that it is
pocket friendly.
2. Coming to faith 70% say WIPROLtd is better than others stock brokers due to
customers satisfaction.
3. Lack of promotional activities undertaken by WIPRO securities Ltd. in Pune
Region.
4. Main purposes of investments are returns & liquidity.
5. Investors take risk as well as returns into their mind while making the
investment.
6. Businessmen are more interested in the stock market than the others.
7. Commodity market is less preferred by the investors, might because of less
awareness about commodity market.
8. People want to invest their money in the security market but they have not the
proper knowledge.
9. People pay more emphasis on brokerage than service provided by brokerage
houses.
10. 3 elements affects the economy of any country:1) GOLD, 2) CRUDE OIL, 3) U.S DOLLAR
.
BIBLIOGRAPHY
Books & magazines:
I have read & collected some matter from the books of my syllabus. I have got
some knowledge about the meaning of corporate governance from magazines of
Institute Of Charted Accountance which is provided by my supervisor & guide.
Websites: