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Principles of Corporate Governance

In: Corporate Accountability

Author

Listed:
  • Dimitris N. Chorafas

Abstract

Poor corporate governance is the most widespread reason why a business gets into trouble. Substandard management manifests itself in many ways: for instance, by paying only lip service, or no attention at all, to forecasting and planning; failing to take account of changes in the marketplace and to position the company against market forces; falling behind advances in technology; and lacking sensitivity to product obsolescence. The consequence is top management turnover. The average tenure of a chief executive in America declined from nearly nine years in 1890 to just over seven in 2001,’ The Economist suggests.1

Suggested Citation

  • Dimitris N. Chorafas, 2004. "Principles of Corporate Governance," Palgrave Macmillan Books, in: Corporate Accountability, chapter 1, pages 3-22, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50895-8_1
    DOI: 10.1057/9780230508958_1
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