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Summary of the Book

In: New Corporate Governance

Author

Listed:
  • Martin Hilb

    (International Center for Corporate Governance)

Abstract

What’s “New” Based on the results of board evaluations conducted in various business sectors, the following main weaknesses of current corporate governance practices have been identified: Most national corporate governance guidelines propose a “one size fits all” approach which is dangerous; it may support good governance, but it does not guarantee that the governance of a firm will become great. There is a lack of strategic direction in much of board practice. Board selection, appraisal, remuneration and development often lack integration and professionalism, and Often there is a lack of in‐depth know‐how in controlling and risk management at the board level. To overcome these weaknesses, ″New Corporate Governance″ includes the following four recommendations: ″Keep it situational″: The board as a change agent ″Keep it strategic″: The board as a directing body ″Keep it integrated″: The board as a team ″Keep it controlled″: The board as a monitoring body

Suggested Citation

  • Martin Hilb, 2016. "Summary of the Book," Management for Professionals, in: New Corporate Governance, edition 5, chapter 7, pages 161-169, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-662-49060-0_7
    DOI: 10.1007/978-3-662-49060-0_7
    as

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