British Directors’ Accountability vs. American CEOs’ Primacy

10 Pages Posted: 4 Jul 2010

See all articles by Simon Kinsella

Simon Kinsella

University of Reading - Henley Business School

Giampiero Favato

Institute of Leadership and Management in Health - Kingston University

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

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

Simon Kinsella

University of Reading - Henley Business School ( email )

Greenlands
Reading, Henley on Thames RG6 6AH
United Kingdom

Giampiero Favato (Contact Author)

Institute of Leadership and Management in Health - Kingston University ( email )

Kingston Hill
Kingston upon Thames
Surrey KT2 7LB
United Kingdom

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