Review article
One-tier vs. Two-tier Board System in Joint Stock Companies (Can one system win and fit all types of joint stock companies?)
Goran Koevski
; Iustinianus Primus Faculty of law, Ss. Cyril and Methodius University, Skopje, Macedonia
Abstract
In the first part, the fundamental characteristics of both the one-tier and the two-tier board systems are analyzed, along with the advantages and disadvantages of each of the systems. The main conclusion of the first part is that there is no “one-size-fits-all” board system that would be recommendable for all types of joint stock companies worldwide.
The second part of the article focuses on some aspects of liability and accountability of board members regarding decisions taken while the company operates as a going concern. The conclusion that arises from this part is that board members should be held more accountable in order for the shareholders’ trust in investing on capital markets to be regained.
Keywords
stock company; the supervisory board; board of directors
Hrčak ID:
67137
URI
Publication date:
20.3.2011.
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