Shareholder Primacy and Corporate Governance
Shareholder Primacy and Corporate Governance

Author: Shuangge Wen

Publisher: Routledge

Published: 2013-10-08

Total Pages: 271

ISBN-13: 1136019847

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Rising defaults in the financial market in 2007, the current widespread economic recession and debt crisis have added impetus to existing doubts about companies’ governance, and cast new light on future trends in shareholder-oriented corporate practice. Taking account of these developments in the field and realising the current need for changes in governance, this book offers a thorough exploration of the origins, recent changes and future development of the corporate objective—shareholder primacy. Legal and theoretical aspects are examined so as to provide a comprehensive and critical account of the practices reflecting shareholder primacy in the UK. In the wake of the financial crisis, this book investigates the direction of future policy, with particular attention to changes in governing rules and regulations and their implications for preserving the objective of shareholder primacy. It examines current UK and EU reform proposals calling for long-term and socially-responsible corporate performance, and the potential friction between proposed legal changes and commercial practices. This book will be useful to researchers and students of company law, and business and management studies.

New Corporate Governance
New Corporate Governance

Author: Martin Hilb

Publisher: Springer Science & Business Media

Published: 2012-01-05

Total Pages: 238

ISBN-13: 3642235956

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Martin Hilb presents an innovative and integrated approach to the theory and practice of corporate governance. Central to this approach is a set of instruments - developed and tested by the author - that can be used by boards to offer effective strategic direction and control to their organizations. The board instruments can be readily applied to the selection, review, remuneration and development of board members, and for conducting board self-evaluations. This new approach to corporate governance is based on four guiding principles: keep it situational, keep it strategic, keep it integrated, and keep it controlled. Together, these principles form the basis of an integrated approach to all key aspects of corporate governance. The main arguments in each section are supported by conceptual models, practical board tools or case studies, making the book ideally suited to board members, senior managers and post-graduate students.

New Directions in Corporate Governance
New Directions in Corporate Governance

Author: Gerald F. Davis

Publisher:

Published: 2006

Total Pages:

ISBN-13:

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Corporate governance describes the structures, processes, and institutions within and around organizations that allocate power and resource control among participants. Law and economics scholars have developed a view of the public corporation as a nexus-of-contracts whose structure is driven by the requirements of financial markets, and thus features of the corporation and its surrounding institutions are theorized in terms of their function in directing corporations toward share price as a criterion of value. Working from this base, more recent research has studied historical and cross-national variation in governance institutions, producing highly varied interpretations of their sources and function. Sociological work, particularly within organization theory, has critiqued this functionalist view and provided alternative interpretations based on networks, power, and culture. The most promising contemporary work seeks to analyze governance in terms of the dynamics of institutions - where they originate, how they operate, how they change, and how they spread beyond their original purposes.

New Directions for Corporate Governance
New Directions for Corporate Governance

Author: Matthew M. C. Allen

Publisher: Now Publishers

Published: 2024-08-07

Total Pages: 0

ISBN-13: 9781638283607

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New Directions for Corporate Governance: A Comparative Capitalisms Approach compares different corporate-governance systems and evaluates those systems in terms of different aspects of organizational performance not just shareholder returns. Combining this approach with insights from the comparative capitalisms literature, this monograph shows how different corporate-governance systems give rise to inherently different types of company that vary in their purpose, relative focus on profits, tendencies to invest in training for various groups of employees, and stewardship of the natural environment. The monograph begins with an overview of the shareholder-primacy view of corporate governance. The next section sets out in detail how, at an ontological level, the comparative-capitalisms perspective on corporate governance differs from the shareholder-primacy approach. Section 3 highlights the implications for analytical foci and methods. The next section provides a summary of relevant research in two separate thematic areas, employee-related issues and environmental investments highlighting the importance of taking the diversity of institutional investors into consideration in analyses of various firm outcomes. Section 5 discusses the rise of asset management funds as well as other alternative investors and highlights how financialization may increase ownership of firms by asset managers doing little to reduce senior managers' priorities to short-term financial performance. The next sections (6-8) highlight the growing prominence of other owners and controllers of firms beyond asset managers including the prominence of other types of firm beyond listed companies whose shares dispersed institutional investors own. Section 9 highlights the difficulty of discerning some firms' 'nationality', and, hence, the difficulty of identifying the owners of those firms as well as the owners' institutionally conditioned objectives. The final section provides conclusions.

Corporate Governance
Corporate Governance

Author: H. Kent Baker

Publisher: John Wiley & Sons

Published: 2010-08-20

Total Pages: 690

ISBN-13: 0470877952

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A detailed look at the importance of corporate governance in today's business world The importance of corporate governance became dramatically clear at the beginning of the twenty-first century as a series of corporate meltdowns from managerial fraud, misconduct, and negligence caused a massive loss of shareholder wealth. As part of the Robert W. Kolb Series in Finance, this book provides a comprehensive view of the shareholder-manager relationship and examines the current state of governance mechanisms in mitigating the principal-agent conflict. This book also offers informed suggestions and predictions about the future direction of corporate governance. Relies on recent research findings to provide guidance through the maze of theories and concepts Uses a structured approach to put corporate governance in perspective Addresses essential issues related to corporate governance including the idea of principal-agent conflict, role of the board of directors, executive compensation, corporate monitoring, proxy contests and corporate takeovers, and regulatory intervention Corporate governance is an essential part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

Corporate Governance
Corporate Governance

Author: Robert A. G. Monks

Publisher: Wiley-Blackwell

Published: 2003-12-19

Total Pages: 584

ISBN-13: 9781405116985

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In the wake of the dramatic series of corporate meltdowns: Enron; Tyco; Adelphia; WorldCom; the timely new edition of this successful text provides students and business professionals with a welcome update of the key issues facing managers, boards of directors, investors, and shareholders. In addition to its authoritative overview of the history, the myth and the reality of corporate governance, this new edition has been updated to include: analysis of the latest cases of corporate disaster; An overview of corporate governance guidelines and codes of practice in developing and emerging markets new cases: Adelphia; Arthur Andersen; Tyco Laboratories; Worldcom; Gerstner's pay packet at IBM Once again in the new edition of their textbook, Robert A. G. Monks and Nell Minow show clearly the role of corporate governance in making sure the right questions are asked and the necessary checks and balances in place to protect the long-term, sustainable value of the enterprise. A CD-ROM containing a comprehensive case study of the Enron collapse, complete with senate hearings and video footage, accompanies the text. Further lecturer resources and links are available at www.blackwellpublishing.com/monks

Corporate Governance Matters
Corporate Governance Matters

Author: David Larcker

Publisher: FT Press

Published: 2011-04-14

Total Pages: 497

ISBN-13: 0132367076

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Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions.