Pathology of failure in governance VS the board's real strategic contribution.

Introduction The wave of corporate malfeasance has dominated the business news and attracted attention of a growing number of governments, regulatory bodies, professional organizations and legislators across the globe in recent years since collapses and scandals occurred at some famed multinational firms like Enron, WorldCom, Adelphia, and Tyco in U.S.A, HiH in Australia, Brenner Vulkari and Metatlgesellschaft in Germany, BCCI in the UK, Parmalat in Italy, even Qantas in NZ etc. These ongoing …

…corporate governance" (Pastuzenski, et al. 2003). In conclusion, through foregoing discussion, my personal view is that, in order to improve corporate governance and company performance, legislators, regulators and professional bodies should, focus on the pathology of governance failure, but no ignorance of developing board's real strategic contribution for companies. For both authorities and board of directors, only one way to effective corporate governance is cohesion between compliance with the governance code and construction of board itself.