E-Knjižnica FET "Dr. Mijo Mirković"

Globalization and corporate governance

Ljubojević, Gordana (2003) Globalization and corporate governance. In: Globalization and Entrepreneurship: Fears, Challenges and Opportunities, 24-26.4.2003, Pula, Croatia.

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Corporate governance can be defined as the system of interrelation between the management of a company and their interests, and the interests of the shareholders and all the other stakeholders concerned, the aim being to maximize the profit from all the activities of the company which are in compliance with the law and international standards. Lack of effective corporate governance derived from the choices made about enterprise ownership, board strucuture, processes, competence, values and membersip, inhibits the economic development of a company, country and world trade. Under-performing boards in the private or public sector, who are often prone to corruption, do not make effective use of resources, which eventually slows the creation of wealth. Non-xistance of the right legislative in a country, or the inability to apply the law, combined with the weak system of accounting, can have a negative impact on the economy of the county. These are the key reasons why the sources of internationa capital are restrictive and wary of the risks when investing in such countries – which is leading to the detriment of social and economic development worldwide. From what has been said, follows that the effort to improve corporate governance represents the key success factor in the process of globalization. Over the past years, a great number of international organizations (The European Bank of Reconstruction and Development, The Organization for Economic Cooperation and Development, etc.) and a few national associations, and governments of some countries (Great Britain, The Russian Federation, etc.) have taken steps to standardize codify and popularize the principles of corporate governance.

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Tip objekta: Materijal konferencije ili radionice (Paper)
Dodatne informacije: 2/2003
Ključni pojmovi: corporate governance, law, economy, international capital, globalization, korporativno vođenje, zakon, ekonomija, internacionalni kapital, globalizacija.
Teme: 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 339 Trgovina. Međunarodni gospodarski odnosi. Svjetsko gospodarstvo > 339.9 Međunarodno gospodarstvo općenito. Međunarodni gospodarski odnosi. Globalno gospodarstvo
Odjeli: Odjel za ekonomiju i turizam "Dr. Mijo Mirković"
Datum pohrane: 08 Jan 2013 07:17
Zadnja promjena: 08 Jan 2013 07:17
URI: http://eknjiznica.unipu.hr/id/eprint/1858

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