Directors’ duties and corporate governance: Have we gone too far?

Coulton, J; Taylor, S

Directors’ duties and corporate governance: Have we gone too far?

Coulton, J Taylor, S

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Publication Type:: Journal Article
Citation:: Australian Accounting Review, 2004, 14 (32), pp. 17 - 24
Issue Date:: 2004-01-01

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Field	Value	Language
dc.contributor.author	Coulton, J	en_US
dc.contributor.author	Taylor, S https://orcid.org/0000-0001-8870-4966	en_US
dc.date.issued	2004-01-01	en_US
dc.identifier.citation	Australian Accounting Review, 2004, 14 (32), pp. 17 - 24	en_US
dc.identifier.issn	1035-6908	en_US
dc.identifier.uri	http://hdl.handle.net/10453/12893
dc.description.abstract	We review recent policy initiatives in Australia, such as corporate governance reporting requirements and innovations in defining directors’ roles and responsibilities, and argue that such initiatives are often premised on overly simplistic models of the role played by directors. The role and effectiveness of directors vary according to the economic activity of the firm; hence, uniform guidelines for board composition, for example, are unlikely to be economically desirable. Likewise, statutory definitions of directors’ duties are unlikely to be effective unless they allow for directors’ roles to vary according to circumstance. Conversely, broad legal definitions will be problematic because of uncertainties in judicial interpretation. © 2004 CPA Australia.	en_US
dc.relation	http://purl.org/au-research/grants/arc/A79803591
dc.relation.ispartof	Australian Accounting Review	en_US
dc.relation.isbasedon	10.1111/j.1835-2561.2004.tb00279.x	en_US
dc.title	Directors’ duties and corporate governance: Have we gone too far?	en_US
dc.type	Journal Article
utslib.citation.volume	32	en_US
utslib.citation.volume	14	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.for	1499 Other Economics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	closed_access
pubs.issue	32	en_US
pubs.publication-status	Published	en_US
pubs.volume	14	en_US

Abstract:

We review recent policy initiatives in Australia, such as corporate governance reporting requirements and innovations in defining directors’ roles and responsibilities, and argue that such initiatives are often premised on overly simplistic models of the role played by directors. The role and effectiveness of directors vary according to the economic activity of the firm; hence, uniform guidelines for board composition, for example, are unlikely to be economically desirable. Likewise, statutory definitions of directors’ duties are unlikely to be effective unless they allow for directors’ roles to vary according to circumstance. Conversely, broad legal definitions will be problematic because of uncertainties in judicial interpretation. © 2004 CPA Australia.

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http://hdl.handle.net/10453/12893