A critical discussion of the effectiveness of independent directors in monitoring and disciplining the senior executives in the UK and the US

How can the effectiveness of independent directors be improved?


Essay, 2019

26 Pages, Grade: A


Excerpt


Table of Contents

1. Introduction

2. Origins of Independent Directors
a) Why Managers Need to be Monitored by (Independent) Directors
b) Rise of Independent Directors in the US
c) Independent Non-executive Directors in the UK

3. Definition of Independence

4. The Monitoring Role of Independent Directors and Key Elements for their Effectiveness
a) Independence
b) Knowledge and Skills
c) Incentives and Engagement

5. Limitations on the Effectiveness of Independent Directors and
Proposals for Improvement
a) Appointment and Structural Bias
b) Lack of Firm-Specific Knowledge and Expertise
c) Information Asymmetries
d) Time Constraints and Multiple Directorships
e) Influence of Board Tenure on Independence
f) Free-Riding Problems
g) Incentives and Remuneration
h) Lack of Board Diversity
i) Liability and Accountability

6. Conclusion

Bibliography

Excerpt out of 26 pages

Details

Title
A critical discussion of the effectiveness of independent directors in monitoring and disciplining the senior executives in the UK and the US
Subtitle
How can the effectiveness of independent directors be improved?
College
University of Edinburgh  (Edinburgh Law School)
Course
Comparative Corporate Governance
Grade
A
Author
Year
2019
Pages
26
Catalog Number
V489595
ISBN (eBook)
9783668964143
ISBN (Book)
9783668964150
Language
English
Notes
Semester Abschluss Essay des Kurses Comparative Corporate Governance im Rahmen des Master of Laws (LL.M.) Studiums im Schwerpunkt Corporate Law an der University of Edinburgh 2018/2019. Note A (mit Auszeichnung). Essay in the Comparative Corporate Governance course as part of the Master of Laws (LL.M.) program in Corporate Law at the University of Edinburgh 2018/2019. Grade A (Distinction).
Keywords
Corporate Governance, United Kingdom, United States of America, UK, US, effectiveness, independent, non-executive, director, senior executive, manager, board, corporate, scandal, financial crisis, Enron, Dodd-Frank Act, Sarbanes-Oxley Act, independence, Listing Rules, NYSE, Higgs, FRC, Carillion, company, unitary, agency costs, shareholder, monitor, discipline, audit, committee, remuneration, listed, nomination, Cadbury, scrutinise, conflict of interest, knowledge, skill, incentive, CEO, bias, chair, induction, training, information asymmetries, time, multiple directorships, tenure, objectivity, free-riding, diversity, liability, accountability, stakeholder, culture, engage, challenge
Quote paper
Thomas Böhm (Author), 2019, A critical discussion of the effectiveness of independent directors in monitoring and disciplining the senior executives in the UK and the US, Munich, GRIN Verlag, https://www.grin.com/document/489595

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