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- Title
CORPORATE GOVERNANCE AND SUPERVISION OF RISK CONTROL AND MANAGEMENT IN SPANISH CONTEXT.
- Authors
Merino, Elena; Sánchez-Araque, Jesús Antonio; López-Taravilla, María Carmen
- Abstract
The last economic and financial crisis of 2007/2008 revealed the weakness of corporate governance with regard to the function of supervision and control of risks. As a consequence of this, various international, supranational and national regulations and reports have been developed with the objective of helping and facilitating the supervision and control of risks faced by companies. In this context, Spain has not been an exception, in fact, various changes in regulations and recommendations have taken place (between 2014 and 2015), especially in the framework of corporate governance, in relation to the subject in question. Therefore, this chapter summarizes the principal legislation and recommendations that, from the point of view of corporate governance, have been established in the Spanish context in relation to: risk control and management, the role of audit committees in the supervision of risk control and management function and transparency in all these issues. Previously, different concepts (the concept and categorization of risks and then risk control and management) are presented and briefly defined. Finally, there is an analysis of how listed companies in Spain have been following the established recommendations in recent years (2016-2018).
- Publication
Current Politics & Economics of Europe, 2020, Vol 31, Issue 2/3, p223
- ISSN
1057-2309
- Publication type
Academic Journal