Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Performance incentives |
Pay dependent on profit level Shares incentives Shareholders’ intervention |
|
|
Performance disincentive |
Threat of being fired Takeover threat |
|
|
Non-executive director |
-To give a meaningful contribution to the board by providing objective criticism -Brings an independent judgment in terms of strategy, performance, and resources |
|
|
Non-executive directors |
-Strategy -Establishing networks -Monitoring performance -Ensures that true, fair, and real financial performance is performed |
|
|
Chief financial officer (cfo) |
-implements internal controls -Supervises major impact projects -Develops relations with financing sources -Advisor to management -Drives major strategic issues -Risk managers |
|
|
Audit Comittee |
-oversight function -ultimately responsible for the company’s financial reporting processes and the quality of its financial reporting. |
|
|
External auditor |
-Casts away doubts on the information given by the management which are also generated under its direct control. |
|
|
is someone who protects and takes care of the needs of others. |
Steward |
|
|
Sole Objective of Stewardship Theory |
to create and maintain a successful organization so the shareholders prosper. |
|
|
This examines the needs of not only shareholders but of every fraction associated with the organization. |
Stakeholder Theory in Governance |
