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Tax and Gorporate Governance
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Increasingly, the OECD and its member governments have recognized the synergy between macroeconomic and structural policies in achieving fundamental policy goals. Corporate governance is one key element in improving economic efficiency and growth as well as enhancing investor confidence. Corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders.
Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined. Good corporate governance should provide proper incentives for the board and management to pursue objectives that are in the interests of the company and its shareholders and society at large. The presence of an effective corporate governance system, within an individual company and across an economy as a whole, helps to provide a degree of confidence that is necessary for the proper functioning of a market economy.
Corporate governance is only part of the larger economic context in which firms operate that includes, for example, macroeconomic policies and the degree of com- petition in product and factor markets. The corporate governance framework also depends on the legal, tax, regulatory, and institutional environment. In addition, fac- tors such as business ethics and corporate awareness of the environmental and soci- etal interests of the communities in which a company operates can also have an impact on its reputation and its long-term success.
The recent attention to corporate governance questions has raised some impor- tant issues concerning the interaction of corporate governance and taxation issues. Most of the corporate governance discussion has centered on the appropriate regu- latory framework for establishing the principles of corporate governance. Thus con- sideration has been given to corporate law questions, regulatory and disclosure prac- tice, principles of ethical conduct and the like. However, there has been relatively little attention paid until recently to the relation between corporate governance and tax rules. This means that tax and governance principles can sometimes be operating in an incoherent fashion.
Josef Drexl Reto M. Hilty Wolfgang Schön and Joseph Straus - Personal Name
1st Edtion
978-3-540-77276-7
NONE
Tax and Gorporate Governance
Corporate Governance
English
Springer-Verlag Berlin Heidelberg
2008
Germany
1-423
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