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The paper examines the term 'corporate governance', the authoritative bodies on corporate governance and the history and aims of corporate governance. The paper looks at the differences between corporate governance in privately held or publicly listed companies and in companies owned by the state. The paper then focuses on the Caribbean and finds that Trinidad has yet to establish a unified corporate governance movement. However, the paper points out that it is moving in the right direction in implementing ethical oversight and corporate governance principles and procedures. A figure is included in the paper.
From the Paper:"The work of Gary Herrigel (2006) entitled: "Corporate Governance: History without Historians" states that the history of corporate governance arrangements "understood as the constitutive processes shaping the relationship between ownership and management of enterprises, is a relatively new field of inquiry for business historians. Indeed most of the recent historiography has been written by non-historians (especially economists and legal scholars) concerned with tracing the roots of contemporary corporate governance regimes."
"The largest part of the literature on corporate governance is of the nature that has its focus on "the origins of dispersed (Anglo-American) and concentrated ownership systems together with the financial and political factors that shaped different development paths. The arguments advanced by these scholars and the debates they have generated are highly stimulating..." (Herrigel, 2006) The literature is stated to underscore "the centrality of corporate governance not only for understanding the historical dynamics of firm performance and economic development, but also for understanding the co-evolution of the corporation with modern ideas of political and legal order." (Herrigel, 2006)
"Five corporate governance regimes are reviewed in the work of Herrigel (2006) who states that discussions of corporate governance in contemporary times "focus on relations between ownership and management within joint-stock, limited-liability, publicly-held, predominantly large-scale enterprises." Herrigel states that the literature in this area of study has "generated two ideal-typical property systems, based on concentrated and dispersed ownership respectively." (2006)"
Sample of Sources Used:
- Herrigel, Gary (2006) Corporate Governance: History without Historians. Handbook of Business History. Oxford University Press. 2006. Online available at: http://home.uchicago.edu/~gherrige/publications/Final%20draft%20CG%20Paper.pdf.
- De Oliveriera, Edson M., Jr. (nd) Financing Infrastructure from Multilateral Credit Agencies. Institute of Brazilian Issues. Minerva Program - Cohort XII. Online available at: http://www.gwu.edu/~ibi/minerva/Fall2000/Edson.Oliveira.Jr.pdf
- Caribbean Trade & Investment Report (2005) Chapter X. Online available at: http://www.caricom.org/jsp/community/regional_issues/CTIR2005/Chapter%20X%20CTIR%202005.pdf
- Martin, John (2004) Ethics and Corporate Governance: Challenges Facing Trinidad & Tobago. An Address by Mr. John Martin, Deputy Chairman, Integrity Commission to The Institute of Internal Auditors (Trinidad & Tobago Chapter) at The Trinidad Hilton Hotel & Conference Centre. Tuesday April 27th 2004. Online available at: http://www.theiia.org/chapters/index.cfm/view.news_detail/cid/224/newsid/3726
- Nurse, Osborne (2008) Caribbean Regulators: Six broad principles of Corporate Governance. Address by the Chairman and CEO at the CHAIRS' Forum 2008. Hilton Trinidad & Conference Centre 6 Nov. 2008.http://www.ttsec.org.tt/speeches/sp081106.pdf
Cite this Research Paper:
Dilemmas in Corporate Governance in Trinidad (2011, December 30) Retrieved October 29, 2020, from https://www.academon.com/research-paper/dilemmas-in-corporate-governance-in-trinidad-149756/
"Dilemmas in Corporate Governance in Trinidad" 30 December 2011. Web. 29 October. 2020. <https://www.academon.com/research-paper/dilemmas-in-corporate-governance-in-trinidad-149756/>