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INTRODUCTION
Corporate Governance has become an important aspect into the business environment , important international corporations has been involved in scandals , where significant amount of money is missing and investor have been affected .
Important corporations such as: Enron, HIH, Parmalat and Northern Rocks, claimed bankrupt, it is an indication that corporations should be more transparent
In US as a response of those scandals a new regulation called the Sarbanes Act was adopted, where the main objective is to protect the right of investors.
In the European Union, corporate codes were revised by high level group of company law experts (HLG) in 2002 and some suggestion were given.

In this paper four corporations will be analyse (Enron, HIH, Parmalat and Northern Rocks) with the purpose to see where they were wrong and how corporate governance influenced.

CORPORATE GOVERNANCE DEFINITION
It seems to be an important issue for the companies’ health. However its definition is not clear as it covers a significant economic phenomena’s, therefore different people give different definitions, reflecting their particulars interest.
OECD says that corporate governance reflects the relationship “between corporate managers, directors and the providers of equity, people and institutions who save and invest their capital to earn a return”. According to Monks and Minow (1995) corporate governance is the relationship along with different participants such as, chief executive officer, management, shareholders, and employees, looking the direction and performance of corporations. Margaret Blair( 1995, p. 19) said “Corporate governance is about "the whole set of legal, cultural, and institutional arrangements that determine what public corporations can do, who controls them, how that control is exercised, and how the risks and return from the activities they undertake are allocated." For this paper I will say that corporate Governance is the system as firms are directed and is related to alignment of information.

From the international point of view, equality, transparency and accountability are all essential concepts for international Corporate Governance. Where equality means that share and stakeholders must received and equal treatment to avoid conflict of interests, transparency is related to the availability of information financial and non- financial; and accountability is seen as the obligation of the board to account the company as corporate body as well as shareholders. In order to ensure those concepts OECD, has promoting to use Corporate Governance specially since 1999 when it was first issued and years later 2004 was revised.

Parts of Corporate Governance
Chief Executive Officer:
Board of directors: make sure shareholders receive stable income, maintaining the balance between interest of the company and shareholders; they suppose to be objective to take decisions.
Management: the organisation strategy is under their responsibility

Shareholders: they can be consider as owners of the company and the source of capital, they delegate decisions to managers through votes.

CORPORATE GOVERNANCE IN THE EU
Corporate Governance has gained importance with the wave of recent corporate scandals, now is considered as an inte本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。