Commissioner John Price said, Shareholder engagement is a cornerstone of good corporate governance
and annual general meetings are an important opportunity for shareholders to hold their board and, through the board, company management to account for a companys performance.
Confidence is built on trust and investor trust is earned by companies with good corporate governance
standards and practices.
In chapter 8 on Boardroom Practices, author emphasizes on the fact that secret of good corporate governance
lies in the boardroom practices.
The Bank has in place a set of formal and rigorous policies designed to promote good corporate governance
and prevent, detect and rectify any infringements.
Other topics discussed included succession planning for family-owned businesses, and how good corporate governance
helps businesses attract new investors.
With Hong Kong being a free and open economy engaging in international business and financial transactions, good corporate governance
and professional directorship in addition to a sound regulatory system and advanced financial infrastructure are all vital for maintaining the city's competitiveness in the global market.
The official said that implementing good corporate governance
practices would ensure effective, transparent and accountable governance of affairs of an organisation.
The protection and maximization of the interests of shareholders and other claimants, such as pensioners and employees, relies equally on good corporate governance
The session focused on transparency in the wake of scandals as well as corruption and how corporate governance protects the interests of a company's shareholders and public at large under the theme 'The Challenge of Good Corporate Governance
in the 21st Century'.
Our work will be driven by the core principle of good corporate governance
," Shaikh Ahmed the meeting.
The main flaw in this premise is that there cannot possibly be one single model of good corporate governance
that can be applied equally well to all public corporations; both ownership and corporate maturity must be taken into consideration, and a flexible spectrum of good corporate governance
Beyond the board level, good corporate governance
is key to ensuring proper management control functions are in place -- such as internal audit, external audit, internal control and compliance -- and that shareholder rights are properly defined and protected.