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Home > Corporate Governance Finance Library > Governance and Risk: An Analytical Handbook for Investors, Managers, Directors, and Stakeholders

Corporate Governance Finance Library

Governance and Risk: An Analytical Handbook for Investors, Managers, Directors, and Stakeholders

George Dallas (ed) (2004)


Why Read It?

  • A team of expert authors offer a global overview on corporate governance trends, and how integral risk has become for any organization.

  • Shows how to assess the complex issues of governance and risk management that have been highlighted by scandals and corporate collapses, and the increasing need for a rigorous governance system.

  • Examines the key aspects of corporate governance and risk practices, and links them to practical performance steps that companies should follow.

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Getting Started

Governance and Risk has been written by a group of experts, mostly affiliated with Standard & Poor’s, including senior members from their Governance Services group, to offer a comprehensive state-of-play report. Aimed at analysts and business professionals, it provides a clear analytical framework for examining and benchmarking governance standards in all companies, using a balanced and rational approach.

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Editor

George Dallas is managing director and global practice leader for corporate governance at Standard & Poor’s, where he has also served as head of global emerging markets and regional head for S&P’s ratings services in Europe. He previously worked at Wells Fargo Bank.

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Context

  • Presents the analytical framework used by Standard & Poor’s in its governance scoring and evaluation process for individual companies.

  • Details corporate governance practices around the world, and examines the diversity of governance practices that global investors need to understand through a common analytical framework.

  • Analyzes the impact of governance and risk issues from a variety of perspectives, including the economic, legal, and social.

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Impact

  • Covers all the main topics of governance and an increasingly critical set of wider themes, such as social and environmental reporting, directors’ liability, and managed fund governance.

  • Discusses how realistic it is to expect market participants to practice self-governance in the current financial climate, and the inherently conflicting interests within the modern corporation.

  • Explores ownership structures and external influences, shareholder rights and stakeholder relations, transparency, disclosure and audit, and board structure and effectiveness.

  • Argues for thinking of corporate governance as a risk factor, and provides a practical scoring methodology that helps rate a company.

  • Takes a cross-disciplinary approach, setting out a framework for examining the different facets of corporate governance.

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Quotations

The development and institutionalization of corporate governance analysis is a long-term journey.

Good governance should be rewarded, and bad governance should be punished.

The market needs strong analytical tools and reliable benchmarks to assess governance risk.

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Further reading

Books:

  • Coyle, Brian. Risk Awareness and Corporate Governance. Canterbury, UK: Financial World, 2002. A guide to the principles of risk awareness and management, and the requirements of corporate law and directors’ responsibilities.
  • Monks, Robert A. G., and Nell Minow. Corporate Governance. 5th ed. Chichester, UK: Wiley, 2011. Explains the key concepts of corporate governance in a textbook format.
  • Shaw, John C. Corporate Governance and Risk: A Systems Approach. Hoboken, NJ: Wiley, 2003. Provides a framework for redesigning decision-making, risk, and governance processes.

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