However, in practice, if these compliance procedures and policies are not an integrant part of the company’s culture and so, the directors are not aware of the extent of their duties regarding the avoidance of interest’s conflict, then they will be much more exposed to claims of breach of their corporate duties and injure the best interests of the firm, when it comes to the decision-making process. in which, because of the sensitive information that the directors come across, the personal interests of those, were put in first place vis-a?-vis the interest of the company as whole, in order the get the best for their own good doing it by themselves or by relying orders in other agents and influencing and undermining the proper functioning of their job tasks. Despite this, we believe that the source of these conflict of interest issues relies mainly on the fact that good Corporate Governance practices and policies are, in a certain expressive way, underestimated by the board’s members and so, they are not aware of their real corporate duties and of how damaging the way they act could be to the company’s sustainability and long-term prosperity, as well as company’s trustworthiness in the eyes conflicts). Furthermore, beyond the nonexistence of stringent corporate governance mechanisms, no amount of checks and balances will purge a company when its people are willing to bypass a set of primary ethical practices, and when one is before a (mixed board) system where, in our estimation, INEDs are independent in title only.
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