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.

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 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.

Winning Ways through Corporate Governance
Winning Ways through Corporate Governance

Author: Neville Bain

Publisher: Springer

Published: 2016-07-27

Total Pages: 222

ISBN-13: 1349141585

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The motivation for writing this book is the authors' deeply held conviction that good governance is an essential element for any organisation that wishes to maximise its effectiveness. They are not alone in observing that in many cases companies or other organisations that perform badly are often poorly governed. Indeed, the key explanation for poor performance is often poor governance. This observation is not limited geographically and there are many examples from around the world. Concern with good governance is not just limited to the free enterprise system. It is universal.