The Story Behind the End of Two Conglomerates: A Reality Check on Corporate Governance of Enron Corporation & Satyam Computer Services.

September 2018Corporate Governance Banking & Finance

Abstract

The concept of “Governance” dates to ancient human civilization whether it was the Indus Valley Civilization or the Mesopotamian Civilization. In a modern-day scenario “Corporate Governance” is "the system by which companies are directed and controlled" (Cadbury Committee, 1992). This article focuses on the epic meltdown of two large corporates in the light of inadequate corporate governance and lack of fiduciary duties by the Board of Directors. The article further analyses the need unification of long term goals whilst maintaining the culture, long term goals and the foremost aspect which is protection of investors.

Subscribe to reador

This article discusses the rise and fall of corporate structures commonly referred to as “conglomerates.” They represent a collection of different companies, either in distinct industries or concentrated in one...Read more

Bruce Ortwine

External Advisor, Global Legal and Compliance, Sumitomo Mitsui Trust Group, Inc.; Adjunct Professor of Law, Rutgers University School of Law, n/a, USA

Parallels and Compliance Lessons Arising from the 2023 Collapses of Silicon Valley Bank, Signature Bank, Silvergate Capital, and Credit Suisse

In March 2023, the banking world experienced a series of shocks as three large regional banks in the United States and international giant Credit Suisse collapsed. It began on Wednesday,...Read more

Elizabeth Fiorelli

Assistant Adviser of Global Legal and Compliance, Sumitomo Mitsui Trust Bank, Limited, New York Branch, USA

Business rescue may be used to restructure South African state-owned companies

The year 2021 marked ten years since the introduction of a new restructuring and administration regime in South African law, known as "business rescue", by the Companies Act, 2008. Since...

The Story Behind the End of Two Conglomerates: A Reality Check on Corporate Governance of Enron Corporation & Satyam Computer Services.

Abstract

Related Papers