The Global Financial Crisis of 2008

A Critical Analysis of the Failures and Weaknesses in the Corporate Governance Arrangements

Devoir expédié , 2023 , 19 Pages , Note: 72

Politique - Sujet: Droit international et les droits de l'homme

The 2008 Global Financial Crisis was a devastating economic event that affected the whole world. It exposed several flaws and weaknesses in the corporate governance arrangements of financial institutions, which failed to prevent excessive risk-taking and ensure effective oversight. This essay critically analyzes the statement by Grant Kirkpatrick that the financial crisis can be largely attributed to failures and weaknesses in corporate governance arrangements. It reviews the relevant literature on corporate governance and the Global Financial Crisis, and examines the role of risk management as a key component of corporate governance. It evaluates the merits and demerits of Kirkpatrick’s argument, and considers the alternative perspectives and explanations for the causes and consequences of the crisis. The essay concludes that corporate governance was indeed a significant factor in the 2008 Global Financial Crisis, but not the only one. It also suggests some implications and recommendations for improving corporate governance practices in the future.

Inhaltsverzeichnis (Table of Contents)

• 1.0 INTRODUCTION.
• 2.0 CORPORATE GOVERNANCE AND THE 2008 GLOBAL FINANCIAL CRISIS.
• 2.1 DEFINITION OF CORPORATE GOVERNANCE.
• 2.2 THE ROLE OF CORPORATE GOVERNANCE
• 2.3 THE 2008 GLOBAL FINANCIAL CRISIS
• 2.4 CORPORATE GOVERNANCE BEFORE THE 2008 GLOBAL FINANCIAL CRISIS
• 2.4.1 Shareholder Value
• 2.4.2 Risk Management...
• 2.4.3 Executive Remuneration
• 2.4.4 Board Independence.....
• 2.4.5 Regulatory Frameworks
• 2.5 FAILURES AND WEAKNESSES IN THE CORPORATE GOVERNANCE ARRANGEMENTS..
• 3.0 LIMITATIONS OF THE STUDY.
• 4.0 A CRITICAL DISCUSSION OF GRANT KIRKPATRICK'S STATEMENT
• 4.1 MERITS OF GRANT KIRKPATRICK'S STATEMENT
• 4.1.1 Poor Risk Management....
• 4.1.2 Absence of Board Oversight.
• 4.1.3 Lack of Transparency and Accountability.
• 4.1.4 Executive Remuneration System.
• 4.2 DEMERITS OF GRANT KIRKPATRICK'S STATEMENT
• 4.2.1 Failures in Regulation.
• 4.2.2 Shared Responsibility.
• 4.2.3 Broader Systemic Causes..

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

The primary objective of this essay is to critically analyze Grant Kirkpatrick's statement that the 2008 Global Financial Crisis can be attributed to failures and weaknesses in corporate governance arrangements. This analysis involves evaluating the merits and demerits of his argument, examining the role of corporate governance in the crisis, and exploring the broader context of risk management, transparency, and accountability.

• The role of corporate governance in mitigating risk and ensuring responsible business practices.
• The failures and weaknesses in corporate governance that contributed to the 2008 Global Financial Crisis.
• The impact of executive remuneration systems and lack of board oversight on risk management.
• The broader systemic causes of the crisis, including regulatory failures and shared responsibility.
• The importance of transparency and accountability in corporate governance frameworks.

Zusammenfassung der Kapitel (Chapter Summaries)

The essay begins by introducing the 2008 Global Financial Crisis and its impact, highlighting the role of corporate governance in the crisis. It then defines corporate governance and explores its role in ensuring responsible and transparent business practices.

Chapter 2 provides a detailed analysis of corporate governance in the context of the 2008 Global Financial Crisis, examining the prevailing practices before the crisis and identifying failures and weaknesses in the governance arrangements.

Chapter 4 critically discusses Grant Kirkpatrick's statement by evaluating its merits and demerits. It explores the arguments supporting Kirkpatrick's assertion that corporate governance failures played a significant role in the crisis, while also acknowledging the broader systemic factors that contributed to the crisis.

Schlüsselwörter (Keywords)

This essay focuses on the key concepts of corporate governance, risk management, transparency, accountability, the 2008 Global Financial Crisis, executive remuneration, board oversight, regulatory frameworks, and systemic causes.

• Université: University of East London
• Cours: INTERNATIONAL CORPORATE GOVERNANCE
• Note: 72
• Auteur: Brian Khisa (Auteur)
• Année de publication: 2023
• Pages: 19
• N° de catalogue: V1420489
• ISBN (PDF): 9783346973375
• ISBN (Livre): 9783346973382
• Langue: anglais
• mots-clé: 2008 Global Financial Crisis, Corporate Governance, Risk Management, Financial Institutions, Grant Kirkpatrick