Directors believe firms ‘run better’

An overwhelming majority of Irish directors believe the way firms are run has improved in recent years.

More than 80% of the 260 directors surveyed by the Institute of Directors in Ireland (IoD) feel the standard of corporate governance among firms has improved recently, while seven out of 10 believe those running companies have learned from governance failings of the past.

Governance of the financial-services sector, which has previously been criticised in light of the economic downturn, is deemed to be “good to very good” by more than half of those surveyed (55%), pointing to confidence among directors that newly-introduced regulation is having the desired effect on the industry.