British Directors’ Accountability vs. American CEOs’ Primacy
10 Pages Posted: 4 Jul 2010
Date Written: July 3, 2010
Abstract
Although both approaches to corporate governance tackle the fundamental principal-agent problem, a basic comparative analysis of the British Codes and the American Sarbanes-Oxley Act reveals a relevant normative asymmetry. While the British regulations have been historically more prescriptive with the responsibilities of Executive and Non-Executive Directors, the American norms seem to point more clearly at the CEO and CFO as the ultimate responsible for corporate governance liabilities.
Keywords: Corporate, Governance, Liability, Accounatbility, Director, CEO
JEL Classification: G3, G38
Suggested Citation: Suggested Citation
Kinsella, Simon and Favato, Giampiero, British Directors’ Accountability vs. American CEOs’ Primacy (July 3, 2010). Available at SSRN: https://ssrn.com/abstract=1634292 or http://dx.doi.org/10.2139/ssrn.1634292
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