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Title: The 21st Century Board: What is an Effective Board?
Authors: Wong, Sardonna Ka Yi (黃嘉怡)
Chan, Ken Wai Kit (陳偉傑)
Department: Department of Accountancy
Issue Date: Oct-2012
Award: Won the Best Paper Award and Best Presenter Award in the Hong Kong Institute of Chartered Secretaries (HKICS) Corporate Governance Paper Competition 2012.
Subjects: Board of Directors
Board Independence
Information Asymmetry
Board Diversity
Corporate Social Responsibility
Goal of Sustainability
Type: Article
Abstract: In this paper, we investigate the effectiveness of the board of directors and discuss some of the loopholes related to corporate boards in the 20th century as highlighted by many researchers. We use Enron Corporation as an underlying case as it symbolizes the biggest corporate fraud and corruption scandal that occurred in the past decade. This scandal has revealed many challenges that corporate boards face today. More relevantly, we provide several recommendations to improve the culture and effectiveness of modern corporate boards: an increase in board independence and board diversity, provide better access to information, and being more socially responsible. In essence, these recommended features of a 21st century board could help to prevent the same blunders that were made by Enron’s board members, which were detrimental to shareholders value.
Appears in Collections:Student Works With External Awards

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