British Directors’ Accountability vs. American CEOs’ Primacy
University of Reading - Henley Business School
July 3, 2010
Although both approaches to corporate governance tackle the fundamental principal-agent problem, a basic comparative analysis of the British Codes and the American Sarbanes-Oxley Act reveals a relevant normative asymmetry. While the British regulations have been historically more prescriptive with the responsibilities of Executive and Non-Executive Directors, the American norms seem to point more clearly at the CEO and CFO as the ultimate responsible for corporate governance liabilities.
Number of Pages in PDF File: 10
Keywords: Corporate, Governance, Liability, Accounatbility, Director, CEO
JEL Classification: G3, G38working papers series
Date posted: July 4, 2010
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