Corporate Governance and Company Directors: Are they Alice in Wonderland?

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avondale-bepress-to-dspace.facultyBusiness
avondale-bepress-to-dspace.peer_review_statusPeer reviewed before publication
avondale-bepress.abstract<p>Corporate governance is not a new concept. In fact the last 15 years has seen a surge in academic publications and case law in relation to the lack of corporate governance. Research Gap is that Company Directors are attending a “mad hatters’ tea party” when it comes to the implementation of governance codes, with the recent spate of court cases involving breaches of directors fiduciary duties. Methodology used was review of case law using archival data. This research looks at the type of case law issues of corporate governance in Australia and in particular accountability, and relates the case law to the Corporations Act (2001) to find where company directors are getting corporate governance wrong. The findings indicate that perhaps the “if not why not” prescription, should not be an option for corporate governance for some Boards. For some Boards the invitation from Alice to jump down the rabbit hole into creative accounting and bad board behaviour at the “mad hatters’ tea party” is just too great an incentive. Implications show that this review of important corporate governance case law will assist Boards to concentrate their efforts on improving the environment they operate in, as good governance equates to good business.</p> <p><em>“In another moment down went Alice after it, never once considering how in the world she was to get out again.” </em><a href="http://www.goodreads.com/author/show/8164.Lewis_Carroll"><em> Carroll</em></a><em>, Lewis (1865)</em> <a href="http://www.goodreads.com/work/quotes/2933712"><em>Alice's Adventures in Wonderland</em></a><strong><em></em></strong></p>
avondale-bepress.articleid1017
avondale-bepress.authorsLisa Barnes
avondale-bepress.context-key16464824
avondale-bepress.coverpage-urlhttps://research.avondale.edu.au/bit_papers/16
avondale-bepress.document-typearticle
avondale-bepress.field.author_faculty_disciplineBusiness
avondale-bepress.field.comments<p>Used by permission: the author</p> <p>Copyright © 2019 Lisa Barnes</p> <p>This is an open access article licensed under a <a href="https://creativecommons.org/licenses/by/4.0/">Creative Commons Attribution 4.0 International License</a>.</p>
avondale-bepress.field.custom_citation<p>Barnes, L. (2020). Corporate governance and company directors: Are they Alice in Wonderland? <em>Frontiers in Education Technology, 3</em>(1), 1-11. doi:10.22158/fet.v3n1p1</p>
avondale-bepress.field.embargo_date2020-02-05T00:00:00Z
avondale-bepress.field.field_of_education08 Management and Commerce
avondale-bepress.field.for150303 Corporate Governance and Stakeholder Engagement
avondale-bepress.field.issn2576-1846
avondale-bepress.field.issue_number1
avondale-bepress.field.journalFrontiers in Education Technology
avondale-bepress.field.page_numbers1-11
avondale-bepress.field.peer_reviewBefore publication
avondale-bepress.field.publication_date2019-12-06T00:00:00Z
avondale-bepress.field.reportable_itemsC1
avondale-bepress.field.research_centreChristian Education Research Centre
avondale-bepress.field.staff_classificationPermanent
avondale-bepress.field.volume_number3
avondale-bepress.fulltext-urlhttps://research.avondale.edu.au/cgi/viewcontent.cgi?article=1017&amp;context=bit_papers&amp;unstamped=1
avondale-bepress.keywordscorporate governance
avondale-bepress.keywordsaccountability
avondale-bepress.keywordstransparency
avondale-bepress.keywordsdirectors duties
avondale-bepress.label16
avondale-bepress.publication-date2019-12-06T00:00:00Z
avondale-bepress.publication-titleBusiness Papers and Journal Articles
avondale-bepress.statepublished
avondale-bepress.submission-date2020-02-05T13:20:20Z
avondale-bepress.submission-pathbit_papers/16
avondale-bepress.titleCorporate Governance and Company Directors: Are they Alice in Wonderland?
avondale-bepress.typearticle
dc.contributor.authorBarnes, Lisa
dc.date.accessioned2023-11-01T00:29:49Z
dc.date.available2023-11-01T00:29:49Z
dc.date.issued2019-12-06
dc.date.submitted2020-02-05T13:20:20Z
dc.description.abstract<p>Corporate governance is not a new concept. In fact the last 15 years has seen a surge in academic publications and case law in relation to the lack of corporate governance. Research Gap is that Company Directors are attending a “mad hatters’ tea party” when it comes to the implementation of governance codes, with the recent spate of court cases involving breaches of directors fiduciary duties. Methodology used was review of case law using archival data. This research looks at the type of case law issues of corporate governance in Australia and in particular accountability, and relates the case law to the Corporations Act (2001) to find where company directors are getting corporate governance wrong. The findings indicate that perhaps the “if not why not” prescription, should not be an option for corporate governance for some Boards. For some Boards the invitation from Alice to jump down the rabbit hole into creative accounting and bad board behaviour at the “mad hatters’ tea party” is just too great an incentive. Implications show that this review of important corporate governance case law will assist Boards to concentrate their efforts on improving the environment they operate in, as good governance equates to good business.</p> <p><em>“In another moment down went Alice after it, never once considering how in the world she was to get out again.” </em><a href="http://www.goodreads.com/author/show/8164.Lewis_Carroll"><em> Carroll</em></a><em>, Lewis (1865)</em> <a href="http://www.goodreads.com/work/quotes/2933712"><em>Alice's Adventures in Wonderland</em></a><strong><em></em></strong></p>
dc.description.versionBefore publication
dc.identifier.citation<p>Barnes, L. (2020). Corporate governance and company directors: Are they Alice in Wonderland? <em>Frontiers in Education Technology, 3</em>(1), 1-11. doi:10.22158/fet.v3n1p1</p>
dc.identifier.issn2576-1846
dc.identifier.urihttps://research.avondale.edu.au/handle/123456789/16464824
dc.language.isoen_us
dc.rights<p>Used by permission: the author</p> <p>Copyright © 2019 Lisa Barnes</p> <p>This is an open access article licensed under a <a href="https://creativecommons.org/licenses/by/4.0/">Creative Commons Attribution 4.0 International License</a>.</p>
dc.subjectcorporate governance
dc.subjectaccountability
dc.subjecttransparency
dc.subjectdirectors duties
dc.titleCorporate Governance and Company Directors: Are they Alice in Wonderland?
dc.typeJournal Article
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