Search results

This paper aims to draw on the stakeholder theory to examine the association between corporate governance and social responsibility.

This paper hypothesized that corporate governance is positively associated with corporate social responsibility (CSR), and good corporate governance also leads to good social responsibility in the following year. Corporate governance was measured by using the corporate governance index provided by Brown and Caylor (2006, 2009). CSR data come from Kinder, Lydenberg and Domini (KLD), Inc.

Regression analysis documents significant evidence to support a positive association between corporate governance and social responsibility. Evidence suggests that good governance leads to good CSR performance.

The results should interest managers who engage in behavior leading to or maintaining strong corporate governance mechanisms, financial analysts who conduct research on corporate governance and firm performance and policymakers who design and implement guidelines on corporate governance mechanisms. Moreover, results of this study can increase individual investors’ confidence in investing in companies with stronger corporate governance.

Corporate governance has been dubbed by many as the guiding facet of modern day corporate entities. However, the success rate of the governance efforts are still unclear. It is high time that corporate governance efforts are integrated to accompany all aspects of the corporate entities and encompass the corporations' most valuable asset, its workers, as a primary benefactor rather than them being mere participants. Hence this paper aims to identify critical areas of inclusiveness and especially the impact of such an integrated effort on mutually developing the work force and the corporate entities.

This paper attempts to identify and highlight mainstream views on corporate governance via library research and complement the research process with available information from appropriate resources to suggest a potential enhancement to the approach taken by the conventional corporate governance efforts.

The paper infers that the potential for the use of corporate governance is beyond its conventional utility and suggests enhancements that could be applied within the existing mainstream corporate governance frameworks to improve the efficiency and role of corporate governance that is anticipated to mutually benefit all stakeholders.

The paper highlights a shift in paradigm that could potentially be utilized in the practical application of corporate governance efforts. It is limited by the nascent nature of the corporate governance efforts.

Thorough analyses of the existing frameworks of corporate governance were utilized and the inferences are the authors' conjectural views and it is anticipated to help to inspire future research towards strategic corporate governance.

Establishing integrated reporting and thinking within mainstream business practice as the norm in the public and private sectors is fundamental. Corporate governance assessment in the APRM Country Review Reports is not done in a way to enable more decision-useful reporting. This policy brief urges APRM's consultants to adopt a particular approach to frame corporate governance assessment. By adopting an inductive qualitative approach, retrieving academic articles and institutions' reports from the literature, this study develops a novel framework to ensure more reliability, completeness, consistency and comparability in the Country Review reporting. It is contended that such reporting can assist the APRM Country Review Missions in corporate governance assessment.

The principles, regulations and directives associated with corporate governance constitute a view of the role, responsibilities and obligations of corporations within a given society. Identifying the ethics of a specific corporate governance regime entails making explicit the moral responsibilities and obligations of corporations in society as well as the ethical values associated with these responsibilities and obligations. In order to make meaningful global comparisons between the ethics of corporate governance regimes, a number of vital distinctions need to be made. The purpose of this paper is to introduce and discuss three such distinctions.

Conceptual clarifications and distinctions are considered with regard to three pairs of related concepts: the ethics of governance and the governance of ethics; external and internal corporate governance; and shareholder and stakeholder orientations in corporate governance.

The conceptual distinctions that have been considered are vital for making useful comparisons between the ethics of different corporate governance regimes around the world. Neglecting these conceptual distinctions can lead to misunderstanding and confusion in the global discourse on the ethics of corporate governance.

The paper provides a theoretical framework for comparing four regional perspectives on the ethics of governance, namely from Africa, Asia, Continental Europe and North America. It also provides a framework for any other global comparative study on the ethics of corporate governance.

The paper provides a conceptual framework for making global comparisons with regard to the ethical underpinnings of corporate governance regimes. It thus assists in creating a framework for a global discourse on the ethics of corporate governance.

The purpose of this paper is to investigate whether there is a global divergence or convergence with regard to the ethics of corporate governance.

Regional perspectives on the ethics of corporate governance from four regions, namely, Africa, Asia, Continental Europe and North America are first briefly introduced and characterized in terms of distinctions between the ethics of governance and the governance of ethics, internal and external corporate governance, and shareholder and stakeholder orientations to corporate governance. Thereafter these regional perspectives are compared in order to determine whether there is a global divergence or convergence with regard to the ethics of corporate governance amongst these four regions of the world.

There are four factors that potentially may have an impact on the ethics of corporate governance, namely, patterns of ownership, the prevailing view of the role of the firm in a society, cultural and societal norms, and socio‐political priorities. The influence of these factors makes a global convergence on the ethics of corporate governance neither likely nor desirable.

Not all regions of the world were included in this comparative study. Regions that need to be included in future studies are Latin America, Central Asia and the Middle East.

The main finding, namely, that a global convergence on the ethics of corporate governance is neither likely nor desirable, should be taken into consideration by promoters of global corporate governance standards.

Based on regional perspectives from Africa, Asia, Continental Europe and North America, the paper provides a global perspective on the question of whether there is global divergence or convergence with regard to the ethics of corporate governance amongst these four regions of the world.

Attempts to benchmark corporate governance practices have focused primarily on developed capital markets, whereas cross‐country comparisons remain difficult for emerging markets. Given the growing importance of emerging markets as an asset class, this paper attempts to shed some light on the quality of governance practices in a large sample of countries and the extent to which that quality may offset perceived weaknesses in the institutional framework in which companies operate.

In the absence of comparable data for many emerging markets, the paper employs new survey evidence from the World Economic Forum's Global Competitiveness Report.

The analysis suggests the following: first, legal institutions play a key role for corporate governance, but other factors, such as politics and cultural and historical roots, matter too. While corporate governance practices in emerging markets tend to be weaker than in developed capital markets, several emerging markets have already made substantial progress in upgrading their practices and, as their institutions continue to emerge, the existing quality gap looks set to narrow further. There are several countries whose companies on average appear to follow better practices than the quality of their legal and regulatory environments would suggest.

Good corporate governance at the company level need not be tied or constrained by its local environment. That good company practices may at least partly offset weak framework conditions and could have important implications for the mode of entry foreign investors choose, an issue to be left for further research.

Overall, the paper's main contribution lies in its novel approach to disaggregate different levels of corporate governance, thus allowing a more textured assessment of corporate governance risk.

This paper makes the first attempt to provide a new analytical framework for research on the evolution of China's corporate governance models. The purpose of this paper is to investigate developmental corporate governance mechanisms in China the over past decades from a synthetic and dynamic analytical viewpoint.

This is a conceptual paper.

The evolution of corporate governance from an administrative to an economic model in China was not a smooth process and was confronted with various unavoidable institutional and ideological obstacles. Consequently, the transition of governance models has demonstrated the following four salient characteristics: gradualism, dualism, systematization and path dependency.

This paper makes the first attempt to provide a new analytical framework for research on the evolution of China's corporate governance models.

The Purpose of the paper is to demonstrate the evolution of reporting on corporate social responsibility (CSR) in Istanbul Stock Exchange companies.

In order to monitor the evolution of reporting on CSR relevant information in the 2003, 2004 and 2005 annual reports of the ISE‐30 Index Companies were examined. The data collected were used to study in depth the following issues: information disclosed related to corporate governance; environmental policy; and social policy.

The study highlights that the companies' attitude towards CSR is encouraging and they try to fulfill their duties as a corporate citizen regarding the social responsibility.

The study covers only 20 companies, which were in the ISE‐30 Index for all of the three years in order to provide comparable information. Since the annual reports of two of these 20 companies cannot be obtained, the research was conducted on the annual reports of the remaining companies that published their annual reports in their websites.

According to the study, the listed companies' disclosures on CSR are not at a desirable level in respect of the best practices. The study reveals that the Turkish companies should give more weight to reporting, especially on environmental and social issues.

Although similar research had been conducted in various countries, this is one of the first studies related to reporting on CSR conducted in the ISE‐30 Index in Turkey.

The purpose of this study is the development of an integrated framework between corporate governance and sustainability, based on the advancements within the field of contemporary governance leading to a renewed focus on sustainable development.

In this paper, the authors provide succinct summary of the evolution of corporate governance over the past century from an historical perspective: starting with the early work of Berle and Means – which focuses on the legal separation of ownership and control – and the subsequent challenges within this framework – all the way to analyzing the major impact of Nobel Laureate Milton Freidman’s work on corporate goals and governance. The authors' approach identifies the key transformation of corporate goals and corporate goals' paradigm shift in progression and focus within corporate houses over time, including how these are approached in the present day by integrating the concept of primacy of all stakeholders. The authors relate this to contemporary developments in the Business Round table and the United Nations’ adoption of the 2030 Agenda for Sustainable Development Goals. The authors also identify specific corporate governance themes within global economic forums, as well as the critical interlinkages needed by all global corporations to achieve sustainable growth.

The primary objectives of the corporate governance themes adopted by global economic forums this decade are in the best interest of all stakeholders – including customers, employees, regulators, local communities, and shareholders. This applies both during periods of relative stability and during crises. A review of the good corporate governance relies on internal mechanisms such as the structure of a board and incentives for management, and on external mechanisms such as institutions that demand accountability. All these mechanisms are important as the mechanisms form the core of how (and for whom) corporations generate value. Ultimately, optimal corporate governance can help deliver both economic gains and societies that value all.

With globalization, the public has higher expectations from corporate CEOs than in the past. Corporate leaders have the ultimate responsibility for creating an organizational culture that supports trust and ensures that corporate leaders' management and employees embody and act on the stated values and mission of their organization. Areas of increased social expectations that require the attention of boards of directors include diversity, transparency, equal opportunity, and eliminating all forms of harassment.

This study identifies a viable agenda for global corporations based on concurrent developments to achieve sustainable development and growth. The recent related research work is also presented.

The paper presents an overview of perspectives on corporate governance grounded in the Common Law legal traditions of the UK and the USA. It further discusses whether that perspective is suitable for global application.

The paper presents personal observations on the operational dynamics of rules and practices of corporate governance as necessary functional supports for large scale financial capitalization of enterprise under conditions of modern industrialization.

The paper concludes that the US perspective on corporate governance is rationally related to objective requirements of financing enterprise and that, as capital markets become larger and more liquid around the world, the corporate governance regimes will, in the main, come to resemble the US model. Though cultural variations on the US pattern are compatible with the purposes of corporate governance to constrain abuse of power in private corporations.

The implication of this paper is for the implementation of corporate governance regimes in emerging market countries, i.e. that flexibility is permissible but a focus on transparency and accountability under all circumstances is required.

The contribution of the paper is to provide a framework for balancing the rules and practices of US corporate governance with the cultural styles and patterns of different national regulatory settings.