Business Environment, 1st Edition by Pearson

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Part IV: Business and Society

focus, they are comprehensive, especially with reference to voting

rights of institutional shareholders and obligations of the board to

stakeholders. Though the APEC principles too reiterate them, they

give foremost importance to disclosures. Again, instead of rights of

shareholders, they reiterate the rights and also the responsibilities

of shareholders, managers and directors. To them, establishment of

accountability standards is a separate principle by itself.

The broad objectives and principles of corporate governance

may be the same to all societies, but when it comes to applying

them to individual countries we have to reckon the peculiar

features, socio-cultural characteristics, the history of its ...