Demutualization: The process by which a mutual company becomes a publicly-traded company. A mutual company is a company owned by its members or users for the benefit of those members or users. In demutualization, the members give up their rights and receive shares in the company in return, which the (now former) members may then…
Abstract The relationship between corporate governance mechanisms and firm performance has been a topic of interest in the research world for many years. Some researchers believe that the relationship between these two variables is positive and others believe that corporate governance has absolutely no impact on the performance of a firm. This study analyzes…
Globalization is creating numerous opportunities for sharing knowledge, technology, social values, and behavioral norms and promoting development at different levels including individual’s organization, and societies across different countries and cultures. Globalization leads to increased competition. The good side of globalization is all about the efficiencies and opportunities open markets create. Business can communicate efficiently and…
Over the past decades, the challenges of corporate governance continue to influence the way in which firms perform. It is ever-present in the conflicts of interest, differences in decision-making and the rise of residual losses (Jensen and Meckling 1976: 310). These challenges, or agency costs, are so far-reaching in firms that it is inevitable to…
Risk management can be defined as a systematic approach to managing risks that threaten the assets and income of a business or entrepreneurship. There are five types of risks in business have been identified that are relevant to takaful as follows: 1. Underwriting risk 2. Operational risks 3. Credit risk 4. Liquidity risk 5. …
CORPORATE OVERVIEW Larsen & Toubro overall view Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T addresses critical needs in key sectors – Hydrocarbon, Infrastructure, Power, Process Industries and Defense – for customers in over 30 countries around the world. L&T is engaged in core,…
The Medici Case is a classic example that shows the importance of good corporate governance by establishing a balance between control and entrepreneurial initiative. Cosimo de Medici created a plethora of partnerships and built a de-centralized organizational structure that incentivized partners to generate higher returns through profit sharing and autonomy. His multivocal leadership style exemplifies…
Background to the Study According to Organisation for Economic Co-operation and Development (OECD) (2003), entrepreneurship accounts for between twenty and forty percent of total productivity growth in eight selected OECD countries, therefore supporting the idea that entrepreneurs represent one of the driving forces of economic growth and development. Developing countries have generally come to…
Satyam Computer Services, India’s fourth largest IT firm and a leading outsourcing company that counts General Electric, General Motors, Nestle, the US Government, Qantas and National Australia Bank amongst its clients, suddenly collapsed on 7th January 2009. Just four months after receiving the ‘Golden Peacock Award’ for Global Excellence in Corporate Governance, a confessional letter…
1.1 Introduction This work will elaborate on the role and responsibilities of internal auditors towards management, in the detection and prevention of fraud. In recent years, the significance of good corporate governance has received notable regulatory and public attention. A fundamental part on an organisation which is its internal audit department, has for duty to…
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