The Age of Activism
Good corporate governance cannot guarantee that good decisions will always be made: running a business is fraught with risk and managers can -- and often do -- make mistakes. What good governance does do is ensure there is accountability and that decisions are taken in an appropriate manner. The recent experience of publicly traded companies has shown that good governance requires both transparency and fluid communication between the major interest groups -- that is, between top management and the board of directors; between the board and shareholders; and between shareholders and society at large.
See full Article: http://www.ieseinsight.com/review/articulo.aspx?doc=114440&seccion=4
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