Fernando's Business Ethics and Corporate Governance, 3rd Edition

178

Part 1

 Business Ethics

FAT PAY DID NOT ENSURE BETTER GOVERNANCE

The above analysis indicates that by and large, the whole corporate sector has been inltrated by

malpractices,

greed and unethical behaviour with a few honourable exceptions. For too often in

recent times, both the print and electronic media have been full of accounts of corporate scan-

dals and managerial misbehaviour. There are several striking evidences to show that managers

of several mega corporations—some of which failed—amassed huge fortunes for themselves

even while the organizations they were managing were heading for failure. Margit Osterloh

et al. point out that ...