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The statute of governance. A pivotal linkage between principles of governance and corporate practices

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  • Rodolfo Apreda

Abstract

This paper puts forward an innovative construct called the Statute of Governance, by which a company can foster and enhance its corporate governance. The paper argues that it is not enough to list some principles of governance and a set of related good practices, as the Australian Stock Exchange has done, albeit it comprises the best available guidelines for the time being. We contend, however, that a step further should be taken, consisting of a Statute of Governance designed and passed by the Board, voted through by stockholders, and enacted by the management. Such statute is a pivotal linkage between principles and good practices, because it becomes enforceable from within the company itself, as the basic by-law concerning corporate governance.

Suggested Citation

  • Rodolfo Apreda, 2011. "The statute of governance. A pivotal linkage between principles of governance and corporate practices," CEMA Working Papers: Serie Documentos de Trabajo. 442, Universidad del CEMA.
    • Handle: RePEc:cem:doctra:442
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    File URL: https://www.ucema.edu.ar/publicaciones/download/documentos/442.pdf
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    More about this item

    Keywords

    statute of governance; principles of governance; good practices; Australian Stock Exchange; corporate governance.;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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