Portugal: Ethical corporate governance
Vieira de Almeida, Lisbon |
October 01, 2008
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Vieira de Almeida & Associados
Address
Lisbon
Telephone
+351 21 311 3400
Fax
+351 21 311 3406
Corporate governance best practices in Portugal do not aim to be a mere catalogue of practices to direct the corporate structure of a company, or to control the relationship between each member of the corporate bodies and the shareholders or with the stakeholders. In our opinion they go much further than that.
Corporate governance principles should be considered as advisable guidelines, not mandatory practices. They are an ethical imposition.
Directors and corporate bodies from major companies should not try to shield themselves behind the non-existence of formal irregularities. Their conduct should respect and uphold the values that the principals aim to preserve, and their actions should be above suspicion.
If this is not possible, they should set themselves aside and exclude the company from the market, recognising that their...
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