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The purpose of this paper is to contrast the historical rise of the managerial function and its reception in law. It thus contributes to the debates on the separation of ownership and control, by showing that managers were never recognized in law. As a result, the managerial function was not protected in law.

This paper brings together management history and the history of UK company law to study the emergence of management in the early twentieth century and the law’s response. The authors bring new historical evidence to bear on the company law reforms of the second half of the twentieth century and, in particular, on the changes inspired by the Cohen Committee report of 1945.

Scientific progress and innovation were important rationales for the emergence of managerial authority. They implied new economic models, new competencies and wider social responsibilities. The analysis of this paper shows that these rationales have been overlooked by company law. The lack of conceptualization of the management in law allowed reforms after 1945 that gave shareholders greater influence over corporate strategy, reducing managerial discretion and the scope for innovation.

This paper focuses on the UK. Further research is needed to confirm whether other countries followed a similar path, both in terms of the emergence of management and in terms of the law’s approach.

This paper is the first, to the authors’ knowledge, to examine the law’s historical approach to management. It calls for a reappraisal of the status of managers and the way corporate governance organizes the separation of ownership and control.

This paper examines post‐Enron developments in UK audit and corporate governance regulation. It considers the latest government‐initiated reviews into audit regulation, specifically those conducted by the Co‐ordinating Group on Audit and Accounting Issues and the DTI Review Team, and into corporate governance, specifically those undertaken by Derek Higgs and Sir Robert Smith. The paper notes that the reviews were undertaken in the context of developments initiated both before and after the collapse of Enron, including, respectively, the new system for the regulation of the UK accountancy profession as established by the Accountancy Foundation, and the US Sarbanes‐Oxley Act. The reviews have been welcomed by government and thus should play a large part in setting the agenda for the future regulation of UK audit and corporate governance. The proposals for auditing share a number of characteristics with the recommendations of a pre‐Enron empirical study which investigated the regulation of UK listed company audit, although significant distinctions remain. The proposals for corporate governance continue the ‘comply or explain’ approach and do not recommend passing its regulation from the Financial Reporting Council to another independent body of ‘stature’ such as the Financial Services Authority (FSA). It is concluded that key to successful implementation of recent proposals will be the need, for audit, to demonstrate that there is no cosy relationship between regulators and the auditing profession, especially the ‘Big Four’ firms, and, for corporate governance, a willingness to look outside the ‘one‐size‐fits‐all’ approach.

The purpose of this paper is to emphasise the importance of the study of ethics in an international context in business courses.

The paper begins with proposed learning outcomes. It examines, using contemporary examples, the increased importance of corporate social responsibility (CSR), the implications of national and international legislation concerning ethical issues and the need for sound overall corporate governance. It concludes with analysis of recent progress towards sustaining ethical standards. The various key ethical dilemmas which occur in business are examined using recent examples, both from the UK and internationally.

The paper presents an optimistic analysis of recent progress made in the development of ethical standards in business, including suggestions for future good practice, both internationally and at company level.

The paper emphasises the importance of sound governance, which is fundamental to the success in fostering ethical practices in international business.

In management, psychology, science and technology, we are becoming more conscious of networks and less blinkered by hierarchies. Charles Handy's four cultures based upon the ‘web’ and the ‘net’, as well as the ‘role’ and the ‘person’ — have extended managerial awareness. Ornstein, in his Psychology of Consciousness has popularised the notion of the two sides of the brain — one logical and analytical, and the other intuitive and aesthetic. Nature's network has become well known to us, through the emerging science of ecology and via David Attenborough and David Bellamy amongst others. The new physics epitomised by Gary Zukov's Dance of the Wuli Masters, has brought a causality into a world which has been dominated by Newtonian cause‐effect. Finally, and most visibly, electronic networks are bursting out all over, to envelop our mechanically man‐made world.

The chapter elaborates how organizational governance can optimally address workplace bullying, a synergy possible because organizational governance seeks to promote ethical functioning while workplace bullying is considered an unethical behavior. Through its suggestions, the chapter aims at furthering employee dignity and well-being, cohering with international calls for human rights at work.

A review of two literatures was conducted: (a) workplace bullying differentiated on the basis of its situatedness and level into internal bullying – of an interpersonal and depersonalized nature – and external bullying; and (b) organizational governance including its theoretical perspectives, especially the societal lens, and international, national, and firm codes.

Several organizational governance measures at institutional level – both international and national in scope – and at firm level are proposed to deal with varieties of workplace bullying encompassing primary, secondary, and tertiary prevention. Accordingly, a shift in organizational effectiveness from goal-based models to process-oriented frameworks so that economic and non-economic objectives are balanced, following the stakeholder approach, is advocated. The political dynamics involved in such an initiative are alluded to.

Application, drawing on secondary rather than primary data, is the essential thrust of the chapter, with recommendations anchored in organizational governance, particularly its societal perspective, conceptualized to address workplace bullying in a holistic manner.

First, despite the clear relevance of organizational governance to workplace bullying, the prospect of interventions from this standpoint has never been previously explored. Second, the term “varieties of workplace bullying” is propounded to capture the different types of emotional abuse at work known so far.

This study investigates the roles of board independence and CEO duality on a firm’s performance relying on financial ratios, namely ROA, ROE, EPS and profit margin. This paper argues that if boards and leadership structure are well in place and conform to the practices in other developed countries, the long‐term shareholder value is expected to increase and shareholder interests are also well protected. To test the roles of board independence and CEO duality, data from the KLSE Main Board companies for the 1994‐1996 financial years were used. The 1994‐1996 financial years were chosen because, during this period, the issue of corporate governance in Malaysia was not as prominent as it was during, and after, the 1997/1998 financial crisis. Thus, this period could be considered as the period during which guidelines on the structure of the board of directors were not yet available in Malaysia. The findings, generally, suggest that neither board independence, leadership structure nor the joint effects of these two showed any relations with firm performance. Findings of this study, nonetheless, showed that Malaysian companies’ boards were generally dominated by outside directors and the majority of the companies in the study practiced non‐dual leadership structures. Thus, this evidence suggests that the structure of the boards of directors in Malaysia is largely independent of management and the absence of any dominant personality.

Is the “profession” of internal audit really delivering? Will it serve the needs of commerce/industry in the new millennium? Is it yet a profession? There is a growing sense of disquiet in companies over the increasing failure of internal control systems. Auditors seem reluctant to accept or address this. Could this represent the greatest opportunity so far for internal auditors or, if we accept the maxim that there are no such things as problems, only opportunities, are we as auditors confronted with an insurmountable opportunity? Looks forward to a brave new world if the challenge is accepted.

The purpose of this paper is to provide the reader with a high-level overview of the key messages of each of the four King Reports on Corporate Governance for South Africa, published during the period from 1994 to 2017, with a particular focus on the stakeholder-inclusive approach. While confirming the constant themes and messages, it also highlights the unique features and attributes of each of these reports.

This paper is based on a review and comparison of the four King Reports of Corporate Governance for South Africa with a particular focus on the stakeholder-inclusive approach.

The key findings of this paper are: the concept of “stakeholder inclusivity” is a common theme across all four the King Reports forming part of the review while, at the same time, having a unique flavour in each of the reports and visibly developing over the years. The reliance on human intervention and ethical leaders to appropriately and effectively steer the stakeholder-inclusive approach is obvious. In the absence of this, no corporate governance code will provide adequate safeguards to stakeholders against corporate failures and disasters, whether in South Africa or anywhere else.

This paper is a part of a special issue which looks at the contribution of the King Reports to governance globally.

The issue of corporate governance has been high on the agenda of the business community for several years but is likely to be a defining issue of the late 1990s. The paper examines its history and discusses its relevance for communications professionals.