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CORPORATE GOVERNANCE IN THE UNITED KINGDOM (1992 – 2008): DEVELOPMENTS, FAILURES & LESSONS

Journal of Advances in Social Science and Humanities

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Title CORPORATE GOVERNANCE IN THE UNITED KINGDOM (1992 – 2008): DEVELOPMENTS, FAILURES & LESSONS
 
Creator AKANPAADGI, EMMANUEL
 
Description Since 1992 there has been an increase in the development of corporate governance principles after the wide spread corporate failures in the UK and US in the late 1980s. In response to these failures, various good corporate governance principles and regulations have been developed by different institutions to address the factors that lead to the failures.The basis of the study is to find out whether the developments in corporate governance have led to a decrease in the incidence of corporate failures. In doing so, I used data from UK newspapers, journals, magazines and other publications relating to the period under review. The years were divided into groups made up of four years each and ranked according corporate governance developments and failures. After which, the Spearman’s Rank Correlation Coefficient formular was used to determine the level of correlation. My findings indicated that, there is a fairly strong positive correlation between developments in corporate governance and corporate failures meaning that as the number of codes and principles increase, the number of corporate failures were also increasing. The study also identified some of the reasons for the continuous corporate governance failures as board incompetence, poor risk management by companies, ineffective internal controls, and the failure of external auditors to remain neutral.The researcher is, however, convinced that if the principles and codes that have been developed are effectively assimilated by boards of directors, there could be a significant reduction in corporate failures in the near future. Keywords: Corporate Governance, Spearman’s Rank Correlation, Coefficient formular. 
 
Publisher Journal of Advances in Social Science and Humanities
 
Date 2015-06-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://jassh.in/index.php/jassh/article/view/4
10.15520/jassh1014
 
Source Journal of Advances in Social Science and Humanities; Vol 1 No 01 (2015)
2395-6542
10.15520/jassh101
 
Language eng
 
Relation http://jassh.in/index.php/jassh/article/view/4/2
 
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