Madahmarzuki, M: Antidote of corporate failure

This book is written with the hope of looking in depth the confrontation of corporate failure. Recent cases of corporate failure involving corporate giants such as Enron and WorldCom have made the problem of corporate failure of growing interests to economists as well as accountants. Economists are interested in the role of corporate governance in less developed economies especially in an environment of economy which favors profit maximizing goals rather than goals that benefit society as a whole. Even though the failure companies have very good corporate governance, it seems that the governance has failed playing its role. This paper focuses on corporate failure which emerges due to the lack of symmetrical information between shareholders and board of directors while focusing on the role of board of directors. This paper provides insight into the question of why companies still fail even though they have systematic and good corporate governance.