Business Ethics and Corporate Governance, Second Edition

GLOBAL CONCERNS

There are fewer concerns more central to international business and developmental agendas than that of corporate governance. A series of events over the last two decades have placed corporate governance issues at the centre stage both for the international business community and for international financial institutions. Apart from colossal business failures and serious frauds in the USA, several high-profile scandals in Russia and the Asian crisis have brought corporate governance issues to the forefront in developing countries and transition economies. The virtual collapse of the Russian economy in 1998 resulted in large measure from the weakness of governance mechanisms. The abysmal inefficiency of business operations under ...