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The Shareholder Executive And Public Sector Businesses
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Book Synopsis The Shareholder Executive and public sector businesses by : Great Britain: National Audit Office
Download or read book The Shareholder Executive and public sector businesses written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2007-02-28 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite privatisation, central and local government still own or part own a number of companies with a combined turnover of over £25 billion. Reconciling public policy with shareholder value can be problematic and so the Shareholder Executive was established in 2003 to improve the Government's ability to act as an effective shareholder. This report examines the impact of the Executive and whether it is on course to meet its objectives. The overall finding is that, to date, it has generally acted as an effective and intelligent shareholder and has proved value for money. However there issues that need to be addressed to allow the Executive to build on its early work. A number of recommendations are made, including moving it out of DTI and giving it independent status.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215036155 Total Pages :48 pages Book Rating :4.0/5 (361 download)
Book Synopsis The Shareholder Executive and public sector businesses by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book The Shareholder Executive and public sector businesses written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2007-09-20 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This particular report follows on from an earlier NAO report on the same topic, see (HCP 255, 06/07 ISBN 9780102944518), published February 2007. The Shareholder Executive was established in 2003, to act as an effective owner of businesses that are owned or part-owned by government. It is now an operational group within the Department of Trade and Industry, with a portfolio covering 27 businesses and a combined turnover of £21 billion. The Committee notes that the role of the Executive marries both public and private objectives, setting out to both achieve public policy objectives through the most cost effective means and provide a satisfactory return on the public money invested through the shareholder value. The Committee states that the Executive has delivered value for the taxpayer by adopting a business criteria through a framework that sets out clear priorities for the businesses, alongside performance monitoring and, with management held to account for their delivery. The Committee sets out a number of conclusions and recommendations, including: that the Department of Trade & Industry is setting up a Board to provide direction and accountability for the Executive; that there should be a presumption that all government businesses come within the Executive's portfolio; that the Executive should market its services comprehensively and seek to be more visible across government; that the Executive should be given an explicit responsibility for advising sponsor departments on the investment needs of their businesses; that the performance management of the Executive needs to include wider measures that are based on the results of individual businesses; also, that the Executive needs sufficient pay flexibility to continue to recruit high calibre staff; that the Executive's responsibility for the postal services industry extends beyond shareholder value issues, and the Committee believes the Department should identify options for relieving the Executive of responsibility for Royal Mail policy; that the Executive should set business-level dividend targets, which take into account the risks faced by the business and the Executive should systematically undertake valuations of the businesses in its portfolio.
Book Synopsis Corporate Governance in Public Sector Enterprises by : S. M. Dewan
Download or read book Corporate Governance in Public Sector Enterprises written by S. M. Dewan and published by Pearson Education India. This book was released on 2006 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book attempts to understand issues of corporate governance in the case of the public sector units in India.
Book Synopsis Corporate Governance Boards of Directors of State-Owned Enterprises An Overview of National Practices by : OECD
Download or read book Corporate Governance Boards of Directors of State-Owned Enterprises An Overview of National Practices written by OECD and published by OECD Publishing. This book was released on 2013-05-30 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on good practices concerning boards of directors of state-owned enterprises. It draws on national practices from over 30 economies.
Book Synopsis Executive Defense by : Michael Useem
Download or read book Executive Defense written by Michael Useem and published by Harvard University Press. This book was released on 1993 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A quiet revolution came to corporate America during the late 1980s and early 1990s. Large shareholders - pension funds, insurance companies, money managers, and commercial banks - exercised new-found muscle, pressuring senior managers to improve disappointing financial results by reshaping their organizations. Michael Useem reveals how those investor pressures have transformed the inside structures of many corporations, better aligning them with shareholder interests. Useem draws on numerous sources, including interviews with senior managers and intensive studies of seven large corporations representing a range of restructuring experiences and industries - including pharmaceuticals, transportation, chemicals, retailing, and financial services. He shows that organizational changes have affected many areas of corporate life: headquarters staffs have been reduced, authority has filtered down to operating units, and compensation has become more closely tied to performance. Change also extends to corporate governance, where managers have fought back by seeking legal safeguards against takeovers and by staggering board terms. They've also put significant resources into building more effective relations with shareholders. As Useem demonstrates, this revolution has reached beyond the corporation, influencing American politics and law. As increasing ownership concentration has caused companies to focus more attention on shareholders, corporate political agendas have shifted from fighting government regulation to resisting shareholder intrusion. This book will be important reading for managers, economists, lawyers, financial analysts, and all observers of American business.
Book Synopsis Corporate Governance: Improving Competitiveness and Access to Capital in Global Markets A Report to the OECD by the Business Sector Advisory Group on Corporate Governance by : OECD
Download or read book Corporate Governance: Improving Competitiveness and Access to Capital in Global Markets A Report to the OECD by the Business Sector Advisory Group on Corporate Governance written by OECD and published by OECD Publishing. This book was released on 1998-03-27 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this report to the OECD, the Business Sector Advisory Group on Corporate Governance presents the perspectives that it believes should guide public policies related to corporate governance, suggests areas for private sector voluntary action and recommends further actions for the OECD.
Book Synopsis Corporate Governance by : Tom Wixley
Download or read book Corporate Governance written by Tom Wixley and published by Siber Ink. This book was released on 2015-11-30 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance (Fourth Edition) continues to inform on all aspects of corporate governance, while keeping readers up to date with the latest developments. It is now established as the leading South African work on the subject. The past five years since publication of the third edition has seen a number of changes in the application of corporate governance in South Africa and beyond. Locally, we have seen the application of the 2008 Companies Act, and in the United Kingdom, a new Corporate Governance Code has been introduced. Significant developments have taken place in the area of corporate reporting, via the appearance of an International Integrated Reporting Framework, widening the scope of the traditional annual report. The Fourth Edition deals with these changes. Key additions are chapters on types of entities, and a comparison of local and international practice. Corporate Governance was first published in 2002 shortly after the publication of the original King Report, to help explain the need for corporate governance in the private and public sectors and to provide South African executives and professionals with a practical framework to establish governance systems and practices in their own organisations.
Book Synopsis Shareholder Executive - Portfolio Businesses by :
Download or read book Shareholder Executive - Portfolio Businesses written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Constitution by : Tony Prosser
Download or read book The Economic Constitution written by Tony Prosser and published by OUP Oxford. This book was released on 2014-03-13 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been little analysis of the constitutional framework for management of the UK economy, either in constitutional law or regulatory studies. This is in contrast to many other countries where the concept of an 'economic constitution' is well established, as it is in the law of the European Union. Given the extensive role of the state in attempting to resolve recent financial crises in the UK and elsewhere in Europe, it is particularly important to develop such an analysis. This book sets out different meanings of an economic constitution, and applies them to key areas of economic management, including taxation and public borrowing, the management of public spending, (including the Spending Review), monetary policy, financial services regulation, industrial policy (including state shareholdings) and government contracting. It analyses the key institutions involved such as the Treasury and the Bank of England, also including a number of less well-known bodies such as the Office for Budget Responsibility. There is also coverage of the international context in which these institutions operate especially the European Union and the World Trade Organisation. It thus provides an account of the public law applying to economic management in the UK. This book also adopts a critical approach, assessing the degree to which there is coherence in the arrangements for economic management, the degree to which economic policy-making is constrained by constitutional norms, and the degree to which economic management is subject to deliberation and accountability through Parliament, the courts and other institutions.
Book Synopsis Corporate Governance Accountability and Transparency: A Guide for State Ownership by : OECD
Download or read book Corporate Governance Accountability and Transparency: A Guide for State Ownership written by OECD and published by OECD Publishing. This book was released on 2010-02-02 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide provides viable policy options and a step-by-step road map on how to address typical difficulties, risks and hurdles that may be encountered in the governance of state-owned enterprises.
Book Synopsis Corporate Governance of State-Owned Enterprises A Survey of OECD Countries by : OECD
Download or read book Corporate Governance of State-Owned Enterprises A Survey of OECD Countries written by OECD and published by OECD Publishing. This book was released on 2005-12-16 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the OECD Guidelines on Corporate Governance of State-Owned Enterprises as well as a comparative overview of main practices and issues related to corporate governance of state-owned enterprises in the OECD area.
Book Synopsis Corporate Governance of State-Owned Enterprises by : World Bank Publications
Download or read book Corporate Governance of State-Owned Enterprises written by World Bank Publications and published by World Bank Publications. This book was released on 2014-10-02 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.
Book Synopsis The Shareholder Value Myth by : Lynn Stout
Download or read book The Shareholder Value Myth written by Lynn Stout and published by Berrett-Koehler Publishers. This book was released on 2012-05-07 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose. Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible behaviors. And she looks at new models of corporate purpose that better serve the needs of investors, corporations, and society. “A must-read for managers, directors, and policymakers interested in getting America back in the business of creating real value for the long term.” —Constance E. Bagley, professor, Yale School of Management; president, Academy of Legal Studies in Business; and author of Managers and the Legal Environment and Winning Legally “A compelling call for radically changing the way business is done... The Shareholder Value Myth powerfully demonstrates both the dangers of the shareholder value rule and the falseness of its alleged legal necessity.” —Joel Bakan, professor, The University of British Columbia, and author of the book and film The Corporation “Lynn Stout has a keen mind, a sharp pen, and an unbending sense of fearlessness. Her book is a must-read for anyone interested in understanding the root causes of the current financial calamity.” —Jack Willoughby, senior editor, Barron’s “Lynn Stout offers a new vision of good corporate governance that serves investors, firms, and the American economy.” —Judy Samuelson, executive director, Business and Society Program, The Aspen Institute
Book Synopsis Stakeholder Capitalism by : Klaus Schwab
Download or read book Stakeholder Capitalism written by Klaus Schwab and published by John Wiley & Sons. This book was released on 2021-01-27 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215036728 Total Pages :44 pages Book Rating :4.0/5 (367 download)
Book Synopsis Helping newly registered business meet their tax obligations by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Helping newly registered business meet their tax obligations written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2007-10-25 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The NAO report on this topic was published as HC 98, session 2006-07 (ISBN 9780102943825)
Author :Great Britain: Parliament: House of Commons: Environment, Food and Rural Affairs Committee Publisher :The Stationery Office ISBN 13 :9780215035622 Total Pages :406 pages Book Rating :4.0/5 (356 download)
Book Synopsis British Waterways by : Great Britain: Parliament: House of Commons: Environment, Food and Rural Affairs Committee
Download or read book British Waterways written by Great Britain: Parliament: House of Commons: Environment, Food and Rural Affairs Committee and published by The Stationery Office. This book was released on 2007-07-31 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: British Waterways : Seventh report of session 2006-07, Vol. 2: Oral and written Evidence
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215050670 Total Pages :36 pages Book Rating :4.0/5 (56 download)
Book Synopsis HM Treasury by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book HM Treasury written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-11-16 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The run on deposits at Northern Rock in September 2007 was one of the key moments in a financial crisis. After nationalising Northern Rock in February 2008, the Treasury eventually decided to split out a new retail bank, ("Northern Rock plc"), for sale, and to run-down the majority of the mortgage assets in a separate public sector vehicle, Northern Rock (Asset Management) plc ("NRAM"). Northern Rock plc was sold to Virgin Money in 2011 for proceeds currently estimated at £931 million, an expected loss of £469 million. The Treasury hopes to recover all the public funds provided to Northern Rock but this is far from certain as it relies on a profitable wind-down of NRAM. Moreover there will still be an economic loss, currently estimated at £2 billion. The Treasury took too long to nationalise the bank and failed to make an effective challenge to the bank's business plan. The Treasury has started to address this lack of capacity: it has established UK Financial Investments ("UKFI") with a small team of 12 people to manage the taxpayer shares in banks. The £66 billion cash spent purchasing shares in RBS and Lloyds may never be recovered. In hindsight, the Treasury's decision to create and sell a new bank turned out to be no worse than any available alternative, because no matter which part of the bank was sold, or when, a larger amount of assets would need to be retained in public ownership.
