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Corporate Governance In Malaysia

            In understanding what corporate governance is about, it would be beneficial to look into the past to observe the introduction and development and of corporate governance practices.
             It could be said that the practice of some form of corporate governance has been in existence from the on-set of the industrial revolution when companies were established for the production of goods. This was the age of Adam Smith's "Wealth of Nations" which touched briefly on the social responsibility of the corporation in the eighteen century. However, it was only until the 1990's that the issues of corporate governance gained greater awareness and importance. This was in reaction to the financial scandals and corporate failures following the effects of the economic crisis. The history of a formal code of corporate governance is traced back to 1991 in the UK when the Cadbury Committee was established with the objectives of raising the standards of corporate governance and the level of confidence in financial reporting and auditing. Hence, the Cadbury Code was formed, setting out clearly, the respective responsibilities of those involved and what is expected of them. Here, an emphasis on the role of the board of directors stands as the central recommendation of the committee.
             In Malaysia the evolution of businesses many of which had origins of being family-owned into public listed corporations gave rise to the increasing importance of corporate governance. As the country gears itself to achieve a developed and industrialised nation status by year 2020 (Vision 2020), the corporate scene has changed dramatically with the Kuala Lumpur Stock Exchange growing to comprise of 630 public listed companies on its main board and 311 on its Second Board. This and the increasing global economic competition, have called for the necessary improvement of corporate governance structures in Malaysia. However, the first major move to improve the standard of corporate governance locally came about soon after the onslaught of the Asian Financial crisis in 1997 which claimed as victims many major corporations in the region including Malaysia.


Essays Related to Corporate Governance In Malaysia

1. malaysia's economic stimulus p

Malaysia's Economic Stimulus Package Malaysia had went through the ups and downs of economic environment. ... Stock market shed to the lowest level, companies try to cut their cost by firing its employee, and corporate institutions had to shut their operation is just inevitable. ... This plan is also involving the whole of Malaysia. Malaysians were being urged to decrease their spending on imported products and support "Made In Malaysia" goods. ... Furthermore, the government continue to encourage pri...

  • Word Count: 1144
  • Approx Pages: 5
  • Grade Level: High School

2. The Operational Perspectives/Concept of Corporate Communication in Malaysia

THE OPERATIONAL PERSPECTIVES/CONCEPT OF CORPORATE COMMUNICATION IN MALAYSIA. 1. ... THE MALAYSIAN CORPORATE COMMUNICATION ENVIRONMENT Malaysia is a multi-cultural country with a populace of about 24 millions. ... Common vital issues to modern corporations especially pertaining to corporate or good governance has been talked frequently. ... This is one of an example of corporate communication operational perspective in Malaysia. 4. ... In Malaysia, major corporation do have separate corporate communication function to streamline and coordinate its increasing needs of the local...

  • Word Count: 1303
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

3. Enron

In Malaysia, there is an intention to make rotation of audit partners mandatory every five years. ... A company can have all the trappings of good corporate governance such as "independent" directors, audit committees, etc. Corporate crimes do and will continue to happen, but directors have a legal duty to shareholders. ... It is critical that companies instill more professionalism and transparency in the corporate governance structure. ... Malaysia's Iszudin Mohd Amin sums up the current feeling: "No thanks to these few bad apples, the dignity of the accounting profession has suff...

  • Word Count: 1015
  • Approx Pages: 4
  • Grade Level: Undergraduate

4. Globalization Benefits And Threats

Neither markets nor the extant structures of governance appear capable of providing for all three conditions at once. ... Part 3 looks at the impact of globalisation on the social bond and, by extension, on our ability to provide for governance with justice in the global economic order in the next millennium. ...

  • Word Count: 9082
  • Approx Pages: 36
  • Grade Level: Undergraduate

5. Palandri Wines Marketing Strategy To Singapore

Given the westernisation of eating habits in Malaysia, Singapore and Thailand there is good potential for Palandri wines in these developing markets. ... From completing an environmental analysis, both internally and externally, analysing the competition, identifying Palandri's corporate goal, market segmentation, brand positioning, and a discussion of the marketing mix (four p's), the most appropriate market entry strategy shall be defined. 3.0 (a) INTERNAL ANALYSIS OF PALANDRI (i) Company Details/Background Palandri Wines is...

  • Word Count: 5777
  • Approx Pages: 23
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6. Globalization

Globalization is both an active process of corporate expansion across borders and a structure of cross-border facilities and economic linkages that has been steadily growing and changing as the process gathers steam. ... Others have been "handicapped by weak policies, institutions, and governance; yet others by civil war" (Dollar, Collier. 2002, p2). ... The list of post 1980 globalizers includes some well-known reformers such as Argentina, Brazil, China, Hungary, India, Malaysia, Mexico, the Philippines, and Thailand. ...

  • Word Count: 1685
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: Undergraduate

7. Liberalisation Of Financial Markets

The financial crisis revealed some serious errors in the corporate governance. ... The main reason why this crisis was instigated was because countries such as Thailand, Malaysia and the Philippines had embraced an unusual policy combination of liberalisation of controls on flows of financial capital on the one hand, and quasi -fixed heavily managed exchange rate systems on the other. ...

  • Word Count: 2133
  • Approx Pages: 9
  • Has Bibliography
  • Grade Level: Undergraduate

8. Globalization and Development

For example, a car could be designed in Germany, the car's silicon chips made in South Korea and the assembly of larger electronic components done in Malaysia, mechanical parts made in Mexico, the main car assembly done in Eastern Europe and the marketing, distribution and retail responsibilities going back to Germany. ... Multinational business can manipulate these needs (and perhaps, sometimes, use straight bribery) to press governments to pursue business-friendly policy: keeping down corporate tax, wages and environmental or health and safety regulations. ...

  • Word Count: 7309
  • Approx Pages: 29
  • Grade Level: Graduate

9. Globalisation Issue

A Dutch academic who maintains a good website on globalisation, Ruud Lubbers, defines it as a process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross border economic, political and socio-cultural relations Left critics of globalisation define the word quite differently, presenting it as worldwide drive toward a globalised economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments Globalisation is an undeniably capitalist proce...

  • Word Count: 9131
  • Approx Pages: 37
  • Grade Level: Undergraduate

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