Title: Loewen's Corporate
|Date:||September 11, 2015|
|Length:||4 / 970|
|No of views:||0|
|Essay rating:||good 0, average 0, bad 0 (total score: 0)|
Because Loewen could not get out of its financial crises, in June 1999 the company had to file for bankruptcy protect.
As to the causes of the company's bankruptcy, some people blamed the accounting principle the company used; many others attributed the business failure to the risky expansion strategy the company adopted...
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I agree that the company's management should take the lion's share of blame, however, the board of directors and shareholders should take the other shares. That is, the company's bad corporate governance made Loewen out of the business.
Corporate governance, as OECD defined in 1999, " is the system by which corporations are directed and controlled...
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