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Essay / Research Paper Abstract
A 4 page paper. A memo between McBride Financial Services and Beltway acts as the stimulus for a discussion on corporate governance. Two recommendations are made for management of Beltway in view of the memo. The writer then discusses committees at two companies in the UK that share in the governance for their firms. Bibliography lists 6 sources.
Page Count:
4 pages (~225 words per page)
File: ME12_PGmcbduk0.rtf
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Unformatted sample text from the term paper:
It is always more cost-efficient to stay in compliance than not to. Violations not only lead to fines, they can lead to criminal charges. And, ethical violations are very
harmful to any firms reputation. While there does not seem to be any empirical evidence that directly links governance with performance, we know that poor governance could lead to collapse
- think Enron. Further, these recommendations are implied in the Combined Code on Corporate Governance (Financial Services Authority, 2003). A five-year study in the United Kingdom revealed that ethical
companies outperform other companies (Verschoor, 2003). The study compared long-term wealth creation, market value and price/earnings ratios (Verschoor, 2003). Ethical companies also had better risk management ratings (Verschoor, 2003). The
two recommendations will help guarantee the success of the venture between Beltway Investments and McBride Financial Services, Inc. as outlined in the memo. According to the memo, McBride holds the
majority interest but Beltway holds control over operations. In these types of arrangements, it is important to have a monitoring system to make certain all parties are complying to the
agreement. In this case, more risk is associated with Beltway executives who may try to be helpful to McBride executives with suggestions about management. The memo specifically states that
there was an agreement regarding strong and appropriate governance of the firm. To do otherwise, could cause McBride to back out of the deal. Adhering to the Combined Code on
Corporate Governance, to Beltways ethical code of conduct and to appropriate governance principles should assure a successful venture. Probably all companies have at least one committee whose purpose is to
oversee certain areas, like an audit committee that assures all financial accounts rules are followed. Dell in the United Kingdom has a number of committees outlined in their corporate governance
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