This Handbook provides an incisive, rigorous and contemporary guide to research methods in the continually evolving area of corporate governance, offering a welcome focus on holistic approaches to research. Not only analysing existing research methods dominated by the quantitative-qualitative dichotomy, it also explores the crucial need to challenge assumptions and methodologies in order to advance research in the field.
The urgent and sustained interest in corporate governance is unprecedented, with the connections between corporate governance and economic performance being emphasized by the World Bank, the IMF and others in the global economic community. In this timely and definitive intellectual analysis of a key discipline, The SAGE Handbook of Corporate Governance offers a critical overview of the key themes, theoretical controversies, current research and emerging concepts that frame the field. Consisting of original substantive chapters by leading international scholars, and examining corporate governance from an inter-disciplinary basis, the text highlights how governance issues are critical to the formation, growth, financing, structural development, and strategic direction of companies and how corporate governance institutions in turn influence the innovation and development of industrial and economic systems globally. Comprehensive, authoritative and presented in a highly-accessible framework, this Handbook is a significant resource to those with an interest in understanding this important emerging field.
This book begins by analysing the various corporate governance mechanisms explored in the extant literature and determining their effectiveness in enhancing the firm value using multivariate analysis. The findings are of global relevance as the corporate governance regulations of most countries focus on independent directors as the mainstay of good governance. The empirical evidence from the first objective of this study corroborates the claim that independent directors do not strengthen the firms’ governance quality. The book is one of the few works to have analysed the possible reasons behind the ineffectiveness of the independent directors. Also, in view of the famous concept of the bundle of governance mechanisms, it might be possible that the independent directors strengthen the firms’ governance quality indirectly by strengthening other governance mechanisms. This aspect too has little precedence. This study adopts a novel moderation and mediation approach to analyse the monitoring behaviour of independent directors in relation to other governance mechanisms. The work is a must read for corporate players as well as researchers and scholars studying this discipline.
The urgent and sustained interest in corporate governance is unprecedented, with the connections between corporate governance and economic performance being emphasized by the World Bank, the IMF and others in the global economic community. In this timely and definitive intellectual analysis of a key discipline, The SAGE Handbook of Corporate Governance offers a critical overview of the key themes, theoretical controversies, current research and emerging concepts that frame the field. Consisting of original substantive chapters by leading international scholars, and examining corporate governance from an inter-disciplinary basis, the text highlights how governance issues are critical to the formation, growth, financing, structural development, and strategic direction of companies and how corporate governance institutions in turn influence the innovation and development of industrial and economic systems globally. Comprehensive, authoritative and presented in a highly-accessible framework, this Handbook is a significant resource to those with an interest in understanding this important emerging field.
Rethinking Corporate Governance's extensive and insightful empirical investigation offers a radically new approach to corporate governance. This ground-breaking volume describes and analyzes the key nature-based and actor-based forces that ultimately determine corporate governance processes and long-term corporate paths. Generally, such forces work in complex and intricate interplays that to a large extent vary among corporations. A theory of shareholder governance is developed and integrated into the established - and more comprehensive - theory of corporate governance to create a revised theory of the corporation (firm). The new possibilities that this creates for explaining how processes develop and ultimately influence corporate paths are presented in-depth. Featuring conclusions based on an empirical material that is both rich and exclusive, the book also contains extensive non-anonymized materials from authentic corporate governance processes. A general conclusion is that actions taken by individuals have a special status among those forces, as they not only generate impact in themselves, but also involve interpretations of the possible effects of all the other forces.Among those actions, the ones taken by the shareholders stand out as particularly decisive both for the governance processes as such and for how corporations develop over time. Offering a degree of openness, detail and realism that is hard to find in any other case-based study this innovative and enlightening volume is essential for both academics and practitioners involved in corporate governance, corporate strategy and the theory of the firm.
There has been a major revival of interest in State Capitalism: what it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to describe market reforms deemed imperfect, to settle into a middle ground, as a pragmatic way to describe the state assuming a role as an active economic agent, in addition to its regulatory, social, and security functions. The latter is the central focus of this book, although due attention is accorded to the origins of state capitalism and how it has changed over the years, as well as contemporary ways in which state capitalism may be theorized. This economic agency may assume direct forms, for example, via state owned enterprises. However, it may also be indirect, for example, actively serving private interests through promoting insider firms, who may occupy monopolistic market positions and perform outsourced state functions. In turn, this leads to raising salient governance questions. The latter may encompass agency tensions between public ownership, and political or even private interest control; it may also include issues of transparency and monitoring. Although state capitalism has often been depicted as the preserve of states in the global south, be they developmental or predatory, many forms of state capitalism are visible in mature economies, be they liberal or coordinated, and this is not always associated with superior governance arrangements; indeed, this is an area where clear and easy divisions between the "developing" or "emerging" world and the "developed" or "mature" world may increasingly be breaking down. This volume brings together the accounts of leading experts from around the world; it is explicitly multi-disciplinary, and both consolidates the existing knowledge base, and provides new, novel, and counter-intuitive insights.
Boards of directors are complex systems, and it is imperative to understand what the contextual forces are that shape the direction and make-up of boards. This Research Handbook provides inspiration for researchers and practitioners interested in the manifold dimensions and facets of context surrounding boards of directors.
This edited volume aims to intimate and orient readers on the current state of corporate governance and strategic decision making a decade after the global financial crises. In particular, it sheds more light on the current state of affairs of corporate governance mechanisms, codes, and their enforcement as well as novel issues arising. The ten constituent chapters contained herein are authored by seasoned academics with research interests in the areas of corporate governance, strategic management, and sustainable management practices. It provides up-to-date theoretical and empirical evidence of such corporate governance issues as corporate governance codes, corporate fraud, quality of earnings, strategic decision making, corporate social responsibility, sustainable management, and sustainable growth strategies. Irrespective of the diverse nature and span of the topics included, this edited volume is divided into three sections and structured to read as a unit.
This book gives readers a look inside the boardrooms and directors’ minds—a desirable but highly challenging task for researchers due to the lack of access to top teams in organizations. This book breaks through that barrier with a mixed-methods investigation of boardrooms in the emerging country of Vietnam particularly on the topic of financial derivatives. Directors are the leading players within the corporate governance framework. The general effectiveness of the board depends on their roles, processes and competencies. Given the scandals marring the history of the financial industry, this book aims to tackle the question of whether board directors have the financial acumen required to handle the tricky instruments of financial derivatives through interviews with board directors and analysis of their organizations. Providing a managerial perspective of financial derivatives, this distinguishes itself from more popular financial engineering books and would be a useful read for government officials, board directors, training organizations and scholars, particularly in Vietnam.
Corporate Governance failures of large corporations such as Lehman Brothers have evoked a plethora of calls for changes in Corporate Governance Principles. Despite the fact that after the financial crisis, a number of transnational institutions have called for wide-scale changes related to Corporate Governance Principles by further protecting share-holders’ rights, it has been proven that theoretical extension and reform of Corporate Governance Principles is not enough, because it does not ensure successful implementation. According to a report from Isaksson (2009), corporate disclosures were not in line with OECD principles on good Corporate Governance. Moreover, according to Isaksson (2009), the financial crisis can also be traced back to incomplete Corporate Governance disclosures. One major implementation topic involves Corporate Governance Reporting, which is very complex for multinational companies, as it involves statutory compliance with multiple rules and laws, coping with heterogeneous “Systems of Corporate Governance” (Weimer and Pape, 1999; Leuz et al., 2003; Tylecote and Visintin, 2007) and additionally the compilation of codes (Cadbury, 1993) and industry-specific standards (Mach et al., 2006; Bebchuk and Spamann, 2010). Extensible Business Reporting Language (XBRL) is assumed as a benchmark related to interactive business disclosures (Chen and Sun, 2009; Debreceny et al., 2010; Alles and Piechocki, 2012). Does XBRL have the potential to help to reduce the complexity of companies’ Corporate Governance Reporting (Alles and Piechocki, 2012)? In the academic literature, there are many articles which conclude that it is possible for XBRL to enhance transparency and improve Corporate Governance for financial reporting (Abdullah et al., 2009; Roohani et al., 2010; Alles and Piechocki, 2012; Müller-Wickop et al., 2013): therefore, an additional question is whether the application of XBRL to the non-financial reporting of Corporate Governance can also contribute to enhanced transparency. Within the peer group of listed Foreign Private Issuers on the New York Stock Exchange there is no adequate Taxonomy available.
