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| Tekijä: | Radin, R.F. Stevenson, W.B. |
| Otsikko: | Comparing mutual fund governance and corporate governance |
| Lehti: | Corporate governance
2006 : SEPTEMBER, VOL. 14:5, p. 367-376 |
| Asiasana: | corporate governance agency theory power |
| Kieli: | eng |
| Tiivistelmä: | Governance in the public corporations in the United States has operated under the agency model with regulatory strengthening since the passage of Sarbanes-Oxley legislations. Against this background, boards are empowered to exercise their power and influence and can effectively monitor the actions of management, and intervene when necessary. In effect, the rules of engagement embodied in the structure and the law guide interactions and empowerment. The governance model of the mutual funds industry, representing over 8 trillion dollars, is often viewed as a mirror of the corporate world, but upon closer analysis is found to have significant structural differences that dilute the authority of directors. The two models are compared and analysed with recommendations made to strengthen the oversight of mutual funds. |
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