Boards need to focus on strategy, not narrow compliance with governance codes, concludes a recent UK study.
In the aftermath of the WorldCom and Enron scandals, governments and financial regulators around the globe rushed through a whole raft of guidelines and laws, supposedly to protect investors. But did they really act with the best interests of business at heart? A new research report suggests not. The study, entitled ‘The role of the board in creating a high-performance organization’, argues that pressure from investors for governance code compliance and short-term share performance
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