Corporate Governance Research Article Summary And Discussion

Corporate Governance: Summary and Discussion of Research Article
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Corporate Governance: Summary and Discussion of Research Article
1 Summary of the Problem.
Kenneth Scoot’s article, The Role of Corporate Governance in South Korean Economic Reform, highlights some of the elements of an effective system of corporate governance. The author begins by identifying the problems or challenges associated with lack of a suitable system of governance within business organizations, which results in adverse repercussions such as bankruptcy or even business closure at the extreme CITATION Sco98 \l 1033 (Scott, 1998). The author goes ahead to provide the concept of corporate governance as a lasting solution to unethical business code or behavior, which only seeks to benefit the stakeholder group with the most influence. The article further breaks down the concept of corporate governance into its suitability, a comparison in its functionality in three countries, criteria for enhancing the different systems of corporate governance, and its application to South Korean business entities CITATION Sco98 \l 1033 (Scott, 1998). The application of corporate governance among South Korean business organizations serves as an effective platform for addressing the challenges of poor governance embraced by a majority of Asian corporate entities and countries.
2 Discussion
Effective corporate governance plays a significant role in the achievement of sustainable economic growth and development of a country. The efficacy of its application in a given business organization depends on a wide range of factors involving various stakeholders associated with the group. The concept of corporate governance serves to streamline the daily operations of a business entity by providing a framework upon which the organizations create and nature responsible behavior for all the stakeholders including both the management and the shareholders CITATION Cam02 \l 1033 (Campbell, 2002). The principles of effective corporate governance further serve to protect the interests of the outlined stakeholders while also leading to overall growth and development of a nation’s economy.
* Data Used in the Research Study
The author draws on the systematic review analysis of reports, selected academic articles on corporate governance, and research studies on the same, to develop and present his arguments in a simple structure for easier understanding by the readers. The author further relies on the International Monetary Fund’s reports on the economic states of various Asian countries and its recommendations for a lasting solution to the problem of poor governance characterizing most of the continent’s financial institutions as well as other corporate organizations CITATION Sco98 \l 1033 (Scott, 1998).
* How the author arrived at a conclusion
Kenneth Scott provides an elaborate discussion of the key elements and pr...