Comparative Law Researches

Comparative Law Researches

corporate governance requirements in the law of Iran, Britain and the United States

Document Type : مقالات علمی پژوهشی

Author
Seyed Mohammadreza Hosseini
PHD in private law, , Imam Sadiq University ,Tehran,Iran
Abstract
Corporate governance has defined as a set of regulations and assessment of corporate operation to balance between stakeholder's interests and to guide company's policies toward maximum level of efficiency and profitablity. In this broad sense, corporate governance complies with rules governing running firms.in the narrow sense, corporate governance refers to requirements for governing and accounting public companies that has been introduced after major American corporates scandal which resulted to ratification of Sarbanes-Oxley Act in 2002. Studies show, corporate governance requirements can be categorized in three groups: requirements for governing corporation, requirements for accounting and requirements for protection of minority shareholders.

In this study, we introduce requirements for corporate governance (in the narrow sense) and compare Iranian laws and regulations with US and UK. As a result, we found that although there is some regulation for registered public companies in Iran's capital market in this issue, but Iranian law hasn't fulfilled all necessary requirements for better corporate governance. Hence, we suggested some modifications in Iranian commercial code.
Keywords
Corporate governance
Comparative Study
public companies
economic analysis of law
law and economics

Subjects

4-2. انگلیسی
الف) کتب و مقالات
33. Du Plessis, Jean Jacques, Anil Hargovan, and Mirko Bagaric.. Principles of contemporary corporate governance: Cambridge University Press. 2010.
34. Mallin, Chris A.. Handbook on international corporate governance: country analyses. 2nd Ed, Elgar original reference. Cheltenham, UK; Northampton, MA: Edward Elgar. 2011
35. Naciri, Ahmed.. Corporate governance around the world: Routledge. 2008
36. Rezaee, Zabihollah.. Corporate governance and ethics: John Wiley & Sons. 2008.
37. Tricker, RI Bob.. Corporate governance: Principles, policies, and practices: OUP Oxford. 2015
ب) قوانین و مقررات
38. The US NYSE Listed Company Manual 2014
39. The Dodd–Frank Wall Street Reform and Consumer Protection Act 2010, US
40. The Investment Advisers Act of 1940, US
41. The investment company act 1940, US
42. The Securities Act of 1933 (the “1933 Act”), US
43. The Securities Exchange Act of 1934 (the “1934 Act”), US
44. The Trust Indenture Act of 1939, US
45. The UK Combined code 2010
46. The UK Corporate Governance Code 2014
47. The UK Financial Service Act 2012
48. The UK Financial Services Act 2012
49. The UK Financial Services and Markets Act 2000 (“FSMA”)
50. The US Bank Secrecy Act 1970
51. The US National Securities Market Improvement Act 1996
52. The US Uniform Securities Act 1956
53. The US, Model Business Corporation Act (MBCA), 2002.
54. UK companies act 2006