Prepare acase briefingexploring the concept of corporate governance considering the questions of the case. In total (counting all the answers), the contribution should be about 500 words and it can be much shorter. Feel free to use tables and bullet points.

Questions:

1. Imagine that you have been commissioned by your government to design from scratch an entirely new system for corporate governance. Your system is to be the most effective governance system and you are allowed to borrow freely from the standards of any country in the world. What are your recommended best practices? Be specific and make sure to comment on unitary board versus two-tiered board, board composition, independence committees, auditor requirements, and other factors mentioned in the case?
2. Do you believe standards of governance should be required through legal mandate (as in China and Germany) or adopted at the discretion of the company based on recommended best practices and pressure from shareholders?
3. How effective do you find the standard of comply-or-explain? Provide an analysis of the economic and social forces of this standard.
4. Do you believe employees should have representation on the board? What impact would this have on governance and board discussion? If you run a major company, would you want employees in your board?