From: Ms.Rituparna Majumdar, legal counsel, HSBC Bank To: Dr. Abiola Makinwa, the Chairwoman, and the Board of Directors, HSBC Bank Subject: Review of HSBC CSR Strategy Date: 24.10.14 Responsible Banking for a company like HSBC The HSBC‘s Corporate Social Responsibility (CSR) strategy is about doing good business responsibly. Responsible banking for HSBC is to play a positive role in the economy of the country they operate and society at large. The social initiative taken by HSBC is grouped…
corporate board structure is scrutinized. These are characteristics that have no place in corporate governance. In fact, the board of directors is put in place so that such things would not happen. Unfortunately, deviant character has entered into the boardroom on too many occasions, leaving shareholders empty-handed. The purpose of this principle is to prevent the possibility of thievery and betrayal. While…
With the price of higher education on the rise, I feel that students are going to need all the financial resources they can get. “In its most recent survey of college pricing, the College Board reports that a "moderate" college budget for an in-state public college for the 2014–2015 academic year averaged $23,410.” (“What’s the price”). Making a trade of public service for financial aid would result in the willingness to serve in a majority…
China, the internal governance can be characterized as three elements: board of director, ownership and control, and managerial incentives. In China, there is a proof that outsider director on the board has a positive impact on increasing the return of investment. Having outsider director on the board leads to make a better decision. There are two kinds of board in china: director and supervisory boards. However, supervisory board is unable to monitor the daily operation in Chinese companies…
Exploring the relationships among serious leisure, emotional intensity and psychological distance: A case study of Fuji Rock Festival goers Interview and Photo Elicitation Questions A. Serious Leisure (3 weeks before Fuji Rock Festival) 1. When was the first time you attended a rock and roll festival? And what festival? 2. How did you get involved in your first rock and roll festival? 3. Since then, how often do you come to rock and roll festival? 4. Approximately, how much time and money do…
The Doctrine Of Ultra Vires At Common Law The object clause is deemed requirement as to memorandum under Section 18 (1) (b) in the Companies Act 1965. The object clause specified in the Memorandum of Association of a company express the objectives and purposes for which the company should be running the business. Generally, company's power in exercising business activities are confined to the object clause. A company must not carry out any act that is outside of the object clauses stated in…
Agency conflict and Agency cost The connection which exist between the firm owners (shareholders) and the firm’s agents, usually the managers is described as agency relationship. In this relationship, principal delegate duties of running the firm businesses to the agents and to work in the best interest of the owners Jensen and Mecking (1976, p.308). Where is the source of this conflict originating? Agency conflict arises among the firm stakeholders (managers and shareholders) due to various…
1. Incentive and pressure to perpetrate fraud existed in the VBSD’s management. Every year, the school got limited aid to provide educational service and they also needed to report their performance to the School Board members so they get the pressure to perform well in order to get aid. Within the budget restriction, they may not able to perform the projects that could improve the school performance. Therefore, the Superintendent intentionally committed fraud by executing the unbudgeted project…
At Wells Fargo, millions of fake customers accounts were created by its employees in order to boost their quarterly reports. Cue an investigation and somewhat 5000 employees are fired. However, before the heroics of Elizabeth Warren, the executive board remained untouched. They continued cashing in the ludicrous paychecks and remained silent against accusations. This clear-cut example uncovers the faults of regulations and exposes the current increasing trend of neglecting the interests and…
The company had announced that it was considering to appoint directors from outside of the company into the half of board seats. 294 page report was published to point out the culture of pressure on employees to meet aggressive targets originated from three generations of chief executives (“Toshiba : IR News, including Disclosures on the Inappropriate Accounting…