Ethics and corporate governance: The issues raised by the Cadbury report in the united kingdom [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jonathan Jenkins Ichikawa
Jack Alan Reynolds
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Journal of Business Ethics 15 (2):167 - 182 (1996)
In the late 1980s there was a series of sensational business scandals in the United Kingdom. There was particular public outrage at the plundering of pension funds by Robert Maxwell, at the failure of auditors to expose the impending bankruptcy of the Bank of Credit and Commerce International, and at the apparently undeserved high pay raises received by senior business executives. The City of London responded by creating a special committee to examine the financial aspects of corporate governance. This paper describes the resulting Code of Best Practice produced by the Cadbury Committee. To reduce the power of executive directors in the boardroom the Code recommends a greater role for non-executive directors, changes in board operations, and a more active role for auditors. The paper reviews the various published reactions to the Cadbury Report, and concludes that the Code is unlikely to halt the incidence of business scandals in the United Kingdom.
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References found in this work BETA
Steven R. Salbu (1993). Corporate Social Responsiveness: Choosing Between Hierarchical and Contractual Control. [REVIEW] Journal of Business Ethics 12 (1):27 - 35.
Citations of this work BETA
Matthias Fink, Rainer Harms & Isabella Hatak (2012). Nanotechnology and Ethics: The Role of Regulation Versus Self-Commitment in Shaping Researchers' Behavior. [REVIEW] Journal of Business Ethics 109 (4):569-581.
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