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CORPORATE GOVERNANCE

PSOJ's Corporate Governance Code (Read more )

Global Partnership on Corporate Governance
Commonwealth Deputy Secretary-General Winston Cox said national governments, financial institutions, and public and private sector bodies have developed a global partnership to improve corporate governance, which is a necessity for all countries to promote investor confidence. He was speaking in Kingston, Jamaica, on 23 February 2005 at the launch of the Private Sector Organisation of Jamaica (PSOJ) Code on Corporate Governance for Jamaica. (Read more)

Directors' duties and corporate governance
THE STATUTORY duties of directors and officers to act honestly and in good faith and to exercise care, diligence and skill are owed, provides the 2004 Companies Act, "to the company alone". (Read more)

Corporate Governance Survey (Read more )

Corporate Governance and Whistleblowing
Whistleblowing is relevant and plays a critical role in corporate governance. This was evident when Sherron Watkins blew the whistle on Enron's management in the U.S. and when Harry Templeton challenged Robert Maxwell's plundering of the pension fund, better known as "the Maxwell Saga" in the U.K.. Invariably, the first to realise or to suspect the malpractice are the employees, or the non-executive directors. If there needs to be an effective regulatory framework, be it self-regulatory or mandatory, consideration must be given to those who are prepared to blow the whistle as they have the most to lose. (Read more )

Development of the Code on Corporate Governance for Jamaica
The corporate efficiency and effectiveness are a major contributing factor to any country's economy. Jamaica is no exception; therefore, the future of this economy will depend significantly on the level of performance of Jamaica's companies. The majority of private companies in Jamaica are owner-managed; that is to say they have a small number of shareholders often of one family, many of whom also participate in the company's management. But despite the fact that the agency problem might not exist, there is still the need for proper governance to protect the rights of other stakeholders such as creditors, employees and society on a whole. In other words, whether ownership structure is centralised or dispersed, a high standard of corporate behaviour and performance is expected. (Read more)

Update January 20, 2005
"The proper governance of companies will become as crucial to the world economy as the proper governance of countries" The President of the World Bank - At the outset of our latest update on corporate governance in Jamaica, it is appropriate to remind the leaders of our business community of the above words. Our island economy is at a critical stage in its history. In order to overcome the current debt overload, proper corporate governance must play an important role if the country is to continue to attract the increased inward investment that will be required to sustain its economic recovery over the next decade. (Read more)

Update July 24, 2003
The significance of corporate governance is now widely recognized both for national development and as a part of the international financial architecture, and is neatly encapsulated in the words of the President of the World Bank that "the proper governance of companies will become as crucial to the world economy as the proper governance of countries". Research has also shown that good corporate governance can improve standards in business, encourage foreign investment, and lead to improved performance by companies. (Read More )