Self-regulation following Cadbury (1992)

Many boards and professional bodies have

• established (or updated) ethical codes to promote corporate behaviours and accountabilities. Are these merely cosmetic?
• set up ethics committees. How do they function? How do we evaluate effectiveness?

Assignments

• Codes are adopted by well-run companies that do not need them. Discuss.

• Pension law was tightened up after the Maxwell case. How? What could have prevented the problem in the first place?

Conclusions on Governance - OHP 19