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Businesses' quid pro quo
Author(s)
Date Issued
2018-02-05
Date Available
2018-10-18T15:16:15Z
Abstract
The word governance comes from a Latin word – gubernare – which means to steer. Cicero wrote: “He that governs sits quietly at the stern and scarce is seen to stir”. Thus, many conceptualise the board as being the navigator of the company and pictures of sailing boats often accompany the term. In The Wealth of Nations, published in 1776, Adam Smith noted that directors of companies are managers of other people’s money rather than their own. He pointed to the risk that they would not watch over the money of others with the same anxious vigilance as they would their own – and that is part of the problem with governance.
Type of Material
Journal Article
Publisher
Chartered Accountants Ireland
Journal
Accountancy Ireland
Volume
50
Issue
1
Start Page
17
End Page
17
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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09_51_Businesses'_Quid_Pro_Quo_(4)_Post_proof.pdf
Size
151.41 KB
Format
Owning collection
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