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The ASX defines corporate governance as “the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations”. It encompasses the mechanisms by which companies, and those in control, are held to account. Corporate governance influences how the objectives are set and achieved, how risk is monitored and assessed, and how performance is optimised.
According to the latest BRW 1000 Survey, the net profit margin of listed companies is 11.4% and 1.8% for private companies. What would happen if SMB’s adopted the same Corporate Governance principles as BIG companies do?
Answer: perhaps net profit margins of SMB’s would increase on average from 1.8% to 11.4%.
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