There’s been lot of discussion of late as to whether good corporate governance can be regulated or whether softly softly principles-based approach is more effective, but in the United States it seems one fairly vital stakeholder group is prepared to vote on the issue with its dollars.
A recent survey of shareholders released by corporate compliance software company Movaris found that 57 percent of respondents would not invest in company that failed to comply with Sarbanes-Oxley – an Act implemented in the wake of high profile bad corporate behaviour la Enron. And most (81 percent) say any corporate leader who violates the Act should be punished by being banned from ever serving on the boards of other companies.
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