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- 1. Chapter 2 Financial Goals and Corporate Governance
- 3. Exhibit 2.1 Who Owns the Business? [Insert Exhibit 2.1]
- 21. Exhibit 2.2 The Structure of Corporate Governance
- 24. Exhibit 2.3 Comparative Corporate Governance Regimes
- 26. Corporate Governance Reform Within the United States and the United Kingdom, the main corporate governance problem is the one treated by agency theory: with widespread share ownership, how can a firm align management’s interest with that of the shareholders? Because individual shareholders do not have the resources or the power to monitor management, the U.S. and U.K. markets rely on regulators to assist in the agency theory monitoring task. Outside the U.S. and U.K., large, controlling shareholders are in the majority – these entities are able to monitor management in some ways better than the regulators can.
- 30. Additional Chapter Exhibits Chapter 2
- 31. Exhibit 2.4 Country Governance Rankings 2008
- 32. Exhibit 2.5 The Premium Paid for Voting Shares: Accounting Standards
- 33. Exhibit 2.6 The Premium Paid for Voting Shares: Law Enforcement
- 34. Exhibit 2.7 U.S. Director Independence 2008
- 35. Exhibit 2.8 Potential Responses to Shareholder Dissatisfaction
- 36. Exhibit 1 Enron’s Actual Operating Income