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ACC03043 – Corporate GovernanceAssessment 1 – Understanding Corporate Collapses - Short written answersDUE DATE: Monday, Week 3, 11:00 PMWORD LIMIT: 2x XXXXXXXXXXwordsWEIGHTING: 20%All students are...

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ACC03043 – Corporate GovernanceAssessment 1 – Understanding Corporate Collapses - Short written answersDUE DATE: Monday, Week 3, 11:00 PMWORD LIMIT: 2x XXXXXXXXXXwordsWEIGHTING: 20%All students are required to submit this assessment via the ACC03043 SCU Blackboard learning site. Hard copy and emailsubmissions will not be accepted and late submission penalties will apply to assignments that are not submitted on timevia the specified Blackboard site.The following questions are all based on chapter 1 of the textbook. There are two questions associated with thisassessment. Answer both questions.Understanding Corporate Collapses1. Research the three cases of early corporate collapses in Australia mentioned in the textbook on page 11: AlanBond, Laurie Connell of Rothwells and the Girvan Corporation. Prepare a brief report outlining the case(s). Whatwas the underlying reason for the failure? Would today's corporate governance codes, rules and regulationshave prevented these outcomes? XXXXXXXXXXwords / 10 marks)2. Explore the collapse of financial institutions mentioned in Chapter 1 on page 17 of the textbook. Prepare a briefreport on corporate governance implications stemming from the global financial crisis XXXXXXXXXXwords / 10marks)You are encouraged to undertake further research about the Australian collapses as well as about the financialinstitutions to gain a deeper understanding of the case (e.g. board structure, board behaviour, etc.) - trustworthy non-academic sources are acceptable in this context. Following issues need to be considered:• For this assessment task, there is no right or wrong answer. It all depends on your analysis and justification for theanswers put forward. You may not have all the information, and the limit to the above word count might bechallenging, but this assignment will train you to write quality management reports.• Please answer the two questions individually (i.e. one by one), observing Harvard referencing style and a clear andlogical structure, along with the ability to express yourself clearly and succinctly. This is not a report, so noexecutive summary, introduction or conclusion is needed. Just answer the questions directly one by one.• Your arguments have to be based on concepts and tools discussed in the topics of this unit and must be supportedthrough direct reference to (academic) literature (recent peer-reviewed journals preferred). Your answers will beassessed based on your ability to develop arguments supported by relevant and valid sources (please also refer tomarking criteria). You are expected to use at least 2 academic sources per question (excluding the textbook) tosupport your viewpoints. All sources must be properly referenced.• In addition to the academic references, and in case you want or need additional information about the cases, feelfree to engage with non-academic literature, i.e. in order to gain a broader and more detailed understanding ofthe cases, you can mention and use information and facts from valid newspapers, magazines and/or official
Answered Same Day Jul 21, 2021 ACC03043 Southern Cross University

Solution

Harshit answered on Jul 21 2021
155 Votes
CORPORATE GOVERNANCE
1. Research of three case studies in Australia:
· Alan Bond founded Bond Corporation Pty Limited in 1967 and was listed in ASX due to a reverse takeover. Similarly, the company acquired more than 600 subsidiaries spending more than $5 billion, with each company being unique. Bond Corporation used the revaluation of the assets of acquired companies to bo
ow funds. The company was expanding at a very fast rate. The company had a debt of $6 billion which was covered suing the revaluation of assets. Bond Corporation kept on expanding in the crash on 1987 which changed the investment world. BCH bought Lonrho and Bell Resources which eventually led to the collapse of the company. The owners of Lonrho released a 93 page report ruining the credibility of BCH and its share price fell by more than 50% ion a day and BCH could not buy Lonrho and also had the adverse effect and the Bell Resources was one of the biggest cash frauds in Australia. This led to the downfall of Bond Corporation Limited (Van Peursem, K.A., Zhou, M., Flood, T. and Buttimore, J., 2007).
· Laurie Connell was involved in many horse racing scandals and scams in the 1970s which connected him many powerful people in Australia. He started his career in Martin Corporation and later started his own consultancy firm. The biggest scam done by Connell was when he was in Rothwells when he started acquiring many small companies in the name of Rothwells Merchant Bank without properly backing it up with the loans and deposits. The crash of 1987 led dismay in the investors as the investors were asking for short term relief. Connell accumulated investors and a
anged a short term relief for $150 million but which was not enough as the loss to the Australian Government was almost $600 million and eventually Connell went to jail (Masters, J.L., 2008).
· Girvan Corporation collapsed due to the difference in the goals of the management and the goals of the shareholders. Sift Securities Limited acquired...
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