(From Philippine Daily Inquirer)
Byline: Rene B. Benitez
IN the aftermath of the numerous corporate scandals rocking Wall Street, the global financial community has veered toward a revitalized focus on corporate governance. Profit incentives such as stock options seem to have become a short-term boon but long-term bane; the steadying hand of good corporate governance practices holds the critical balance.
But how should a company's shareholders, board of directors, and executive management interact with one another and fulfill their respective roles, so that the company could be considered properly governed?
Corporate governance as a concept is not new. It does deserve, however, a fresh perspective in light of the economic and social environment in which companies operate today. Governance is both a requisite for ensuring a company's strength and survival, as well as an investment towards promoting …