Abstract
The purpose of this study is to demonstrate that those companies which are more multinationals have higher corporate governance practices. While analyzing the two companies, Bozec’s recent empirical research on corporate governance was regarded. The first section of this study determines whether the companies are domestic or multinational and the second part of the study compares corporate governance practices of the two companies. The results justify precision of empirical research conducted by Bozec.
Introduction
• Introduction to the two companies
Australia and New Zealand Banking Group Limited (ANZ) operates in the areas of international banking and financial products and services, which is among the top 50 banks in the world. ANZ Limited first opened an office as Bank of Australasia in Melbourne in the 1830s. (ANZ 2008). ANZ Limited shares are listed on both the Australian and New Zealand stock exchanges. Even though the company operates primarily in Australia and New Zealand, its other operations can be seen across the Asia Pacific regions and some other countries, including the UK and the US. ANZ operates in the course of five major divisions: Personal, Institutional and New Zealand Businesses, Partnerships & Private Bank and Group Center (Factiva 2008). ANZ’s profit after tax for the last financial year was $4,180 million which was up by 9%. There was also 9% increase in the dividends per share and 12% increase in revenue.
Firstfolio Group Limited (FFF) is an ASX listed firm which is fastest growing and most innovative financial services companies in the market. FFF Limited focuses on property finance and associated services and offers these services to professionals such as solicitors, accountants an ...