Search results

1 – 10 of over 22000
To view the access options for this content please click here
Article
Publication date: 2 January 2009

Brenda A. Porter

The purpose of this paper is to distinguish between corporate accountability and corporate governance, explore the development of corporate accountability and examine the…

Downloads
5210

Abstract

Purpose

The purpose of this paper is to distinguish between corporate accountability and corporate governance, explore the development of corporate accountability and examine the role of the tripartite audit function in securing this accountability.

Design/methodology/approach

A normative approach has been adopted and the research is based, primarily, on an examination of relevant literature.

Findings

Society facilities the growth of economic entities by providing them with resources. As their command over resources increases, these entities gain significant economic, social and political power and accountability is demanded of their managers as a check on possible abuse of this power. Historically, as companies have increased their power in society, those to whom and that for which their managers are held accountable have been extended. Today, the managers of large public companies are considered to be accountable to society as a whole for a wide range of corporate activities. The discharge of corporate accountability traditionally relied on the preparation and audit of accountability reports (financial statements). However, from the 1990s, responding to the increasing severity of the impact on society of unexpected corporate failures – and continued failures – responsible corporate governance was added as an accountability requirement. Further, as the activities for which companies are accountable have been extended (paralleling the growth of their “power” in society), so corporate responsibility information has featured as an element in their accountability reports. As these changes have occurred, the importance of the tripartite audit function in securing corporate accountability has come to be recognised and its members – the company's external and internal auditors and its audit committee – have become increasingly multi‐disciplinary in nature.

Originality/value

The paper explores the questions of why corporate accountability arises and how it is discharged. It explains the relationship between corporate governance and accountability and the role of the audit function in securing corporate accountability. It also provides insights into changes occurring in the audit function and how these might develop.

Details

Managerial Auditing Journal, vol. 24 no. 2
Type: Research Article
ISSN: 0268-6902

Keywords

To view the access options for this content please click here
Article
Publication date: 16 September 2013

Munif Mohammed

– The purpose of this paper is to integrate the context of sustainability in a framework for greater corporate accountability.

Downloads
1569

Abstract

Purpose

The purpose of this paper is to integrate the context of sustainability in a framework for greater corporate accountability.

Design/methodology/approach

Applied conceptual research.

Findings

This literature review shows that current corporate accountability frameworks forces companies to focus on a narrow source for value creation based on imperfect economic theories inadequate response to societal issues and misleading measurement systems. The current conceptual accountability frameworks are dramatically inadequate in the context of escalating sustainability issues and needs of both society and business. The business responses, through corporate social responsibility (CSR) initiatives, voluntary sustainability reports and industry standards are only a poor attempt to address the fundamental sustainable development challenges. Economic theory has defined externalities as residual to the market and as market failure requiring government intervention.

Practical implications

This paper proposes a direct valuation and formal accounting of externalities on the corporate balance sheet, with an offsetting appraisal of the social licence to operate for the corporation, thus creating a meaningful and integrated basis for accountability.

Originality/value

The current definition and understanding of corporate accountability is challenged. The paper presents a broad grounding in relevant literature for change to the current corporate accountability framework. The main contribution of this paper towards theory development is that meaningful corporate accountability framework in the context of sustainability can connect social progress to the economic value of the firm's strategy.

Details

EuroMed Journal of Business, vol. 8 no. 3
Type: Research Article
ISSN: 1450-2194

Keywords

To view the access options for this content please click here
Article
Publication date: 19 September 2008

Niamh M. Brennan and Jill Solomon

This paper aims to review traditional corporate governance and accountability research, to suggest opportunities for future research in this field.

Downloads
29111

Abstract

Purpose

This paper aims to review traditional corporate governance and accountability research, to suggest opportunities for future research in this field.

Design/methodology/approach

The first part adopts an analytical frame of reference based on theory, accountability mechanisms, methodology, business sector/context, globalisation and time horizon. The second part of the paper locates the seven papers in the special issue in a framework of analysis showing how each one contributes to the field. The paper presents a frame of reference which may be used as a “roadmap” for researchers to navigate their way through the prior literature and to position their work on the frontiers of corporate governance research. The paper is primarily discursive and conceptual.

Findings

The paper encourages broader approaches to corporate governance and accountability research beyond the traditional and primarily quantitative approaches of prior research. Broader theoretical perspectives, methodological approaches, accountability mechanism, sectors/contexts, globalisation, and time horizons are identified.

Research limitations/implications

Greater use of qualitative research methods are suggested, which present challenges particularly of access to the “black box” of corporate boardrooms.

Originality/value

Drawing on the analytical framework, and the papers in the special issue, the paper identifies opportunities for further research of accountability and corporate governance.

Details

Accounting, Auditing & Accountability Journal, vol. 21 no. 7
Type: Research Article
ISSN: 0951-3574

Keywords

To view the access options for this content please click here
Article
Publication date: 22 May 2019

Larry Amartei Amartey, Mei Yu and Osita Chukwu-lobelu

This study aims to examine the mechanisms that were being used to enhance board accountability of Ghanaian listed banks, and how board accountability can be improved.

Abstract

Purpose

This study aims to examine the mechanisms that were being used to enhance board accountability of Ghanaian listed banks, and how board accountability can be improved.

Design/methodology/approach

The 2011 and 2016 annual reports of listed banks on the Ghana Stock Exchange were examined, and a survey questionnaire was sent to board members of nine banks.

Findings

The results show that the directors of Ghanaian listed banks prioritise a shareholder approach to accountability, with a shift towards stakeholders. Audit committees, external audits and internal audits were the main mechanisms used by these banks to enhance board accountability. Some of these mechanisms were not used effectively by a number of these banks.

Practical implications

Board accountability can be improved by appointing very competent people to the board, the national adoption of a mandatory code of corporate governance, regular rotation of external auditors and requiring non-executive directors to stand for re-election more frequently. Our research identifies weaknesses of accountability mechanisms and offers timely recommendations for banks and regulators to build stronger corporate governance systems.

Originality/value

This study obtained valuable opinions of the boards of directors, provides insights on boards of Ghanaian listed banks and contributes to the literature of corporate governance and accountability in Africa.

Details

Journal of Financial Regulation and Compliance, vol. 27 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

To view the access options for this content please click here
Article
Publication date: 15 January 2018

Osamuyimen Egbon, Uwafiokun Idemudia and Kenneth Amaeshi

The purpose of this paper is to examine whether Shell Nigeria’s Global Memorandum of Understanding (GMoU) promotes corporate-community accountability as a basis for…

Downloads
1440

Abstract

Purpose

The purpose of this paper is to examine whether Shell Nigeria’s Global Memorandum of Understanding (GMoU) promotes corporate-community accountability as a basis for fostering sustainable community development in the Niger Delta.

Design/methodology/approach

Shell Nigeria’s GMoU stand-alone reports were analysed through the lenses of accountability and transparency theoretical frameworks to explore the extent to which GMoU, as a corporate social responsibility (CSR) initiative, is dialogically embedded and practised. Meaning-oriented content analysis was deductively used to isolate pertinent themes and generate findings from the background theoretical literature.

Findings

The authors find that Shell discursively appropriates the meaning of accountability and transparency in a manner that allows it to maintain its social legitimacy and the asymmetric power relations between itself and host communities whilst restricting communities’ agency to hold it accountable. Shell does this by interpreting the notion of participation restrictively, selectively deploying the concept of transparency and accountability and subtly exerting excessive control over the GMoU. Thus, the GMoU’s potential to contribute to sustainable community development and positive corporate-community relation is unlikely tenable.

Originality/value

Accountability and transparency are core and critical to corporate-community relations and for achieving community development CSR objectives, but are often taken for granted or ignored in the CSR literature on the Niger Delta of Nigeria. This paper addresses this gap in the literature by using accountability and transparency lenses to unpick GMoU model and contribute to studies on CSR practices by oil multinational corporations (MNCs) in developing countries. Indeed, the use of these lenses to explore CSR process offers new insights as to why CSR practices have failed to contribute to sustainable community development despite increased community spending by oil MNCs.

Details

Accounting, Auditing & Accountability Journal, vol. 31 no. 1
Type: Research Article
ISSN: 0951-3574

Keywords

To view the access options for this content please click here
Article
Publication date: 3 October 2016

Md Moazzem Hossain and Manzurul Alam

The purpose of this paper is to investigate organisational accountability to less economically powerful stakeholders in the absence of formal corporate social reporting…

Downloads
1487

Abstract

Purpose

The purpose of this paper is to investigate organisational accountability to less economically powerful stakeholders in the absence of formal corporate social reporting (CSR) guidelines. In addition, this study emphasises the role of administrative and institutional reforms in empowering stakeholders in a developing country context, namely, Bangladesh.

Design/methodology/approach

Consistent with prior literature, this qualitative study collected data through semi-structured interviews with 23 representatives from NGOs, media, civil society, customers, regulators, trade union leaders and employees who are considered as less economically powerful stakeholders. This paper draws on the demand for administrative reforms along with an institutional support structure (Owen et al., 1997) to enhance CSR and corporate accountability.

Findings

The empirical evidence shows that there is a need for a stand-alone mandatory CSR to achieve stakeholder accountability. It also shows that there are demands from “stakeholders to right to know” about the company’s social and environmental performance along with stakeholder engagements. There is a perceived demand for administrative reform along with institutional supports that can contribute to the CSR development in Bangladesh. These administrative reforms would encourage transparent corporate social and environmental practices. Given the socio-economic and vulnerable environmental conditions of Bangladesh, stakeholders in this study suggested contextually relevant CSR guidelines towards greater accountability.

Research limitations/implications

This paper is one of the few engagement-based studies which explore the perceptions of less economically powerful stakeholders towards CSR developments in an emerging economy – Bangladesh. The findings of this study using the theoretical lens of accountability with administrative and institutional reforms lead us to conclude that companies in Bangladesh have low level of CSR towards stakeholder accountability and stakeholder engagements.

Originality/value

The paper contributes to the CSR literature by highlighting the needs of CSR from the stakeholder’s accountability perspective.

Details

International Journal of Accounting & Information Management, vol. 24 no. 4
Type: Research Article
ISSN: 1834-7649

Keywords

To view the access options for this content please click here
Article
Publication date: 16 November 2012

Teerooven Soobaroyen and Jyoti Devi Mahadeo

The purpose of this study is to examine whether the expectations and requirements contained within the corporate governance code have an impact on how accountability is…

Downloads
2825

Abstract

Purpose

The purpose of this study is to examine whether the expectations and requirements contained within the corporate governance code have an impact on how accountability is perceived, understood and practiced by company board members in an emerging economy (Mauritius).

Design/methodology/approach

The paper relies on 24 semi‐structured interviews of board members in listed and non‐listed companies and also analyses the accountability implications present in the local code of corporate governance and relevant reports. The analysis is informed by the typologies of board accountability and process developed by Roberts in 2001 (socialising, individualising, sovereign and complementary) and is complemented by Pettigrew and McNulty's 1995 notions of minimalist and maximalist boards.

Findings

From a state which can largely be associated to the notion of sovereign governance and a minimalist board, the findings reveal a substantive change in the type of board accountability but it is one which privileges an individualising form of board interactions. A move to a more empowered “maximalist” board is also noted. Notwithstanding, the paper uncovers specific issues with the INED as an accountability mechanism in that there is much fuzziness on his/her role and motivations and whether INEDs can conceivably contribute to a socialising form of board accountability.

Originality/value

The paper responds to calls for more qualitative research on how boards actually operate in emerging economies, at a time when an increasing number of countries have adopted corporate governance requirements drawn primarily from the Anglo‐American model. This paper contributes to the literature by providing empirical evidence on corporate board processes and dynamics in non‐Western contexts.

Details

Qualitative Research in Accounting & Management, vol. 9 no. 4
Type: Research Article
ISSN: 1176-6093

Keywords

To view the access options for this content please click here
Book part
Publication date: 28 January 2015

Arzu Özsözgün Çalişkan

The United Nations Global Compact initiative is presented for businesses and nonbusiness as a universally accepted set of principles. The aim of the 10 principles in the…

Abstract

Purpose

The United Nations Global Compact initiative is presented for businesses and nonbusiness as a universally accepted set of principles. The aim of the 10 principles in the areas of Human Rights, Labor, Environment, and Anticorruption is to encourage businesses to align their operations and strategies with committed values. The Global Compact network involves not only companies but also governments, labor, and civil society organizations. Corporations, community, and environment are integral parts of a system that correlate to each other. In light of the assumption that business operations have increasingly observable effects on the environment, economy, and social life on a global scale, it is necessary to have accountable and sustainable firms. The Global Compact is a voluntary strategic policy initiative, and it has become more important in where interactions between organizations and stakeholders to be more dynamic. On the other hand, sustainability has economic, social, and environmental dimensions, and in accordance with these dimensions, it is necessary for firms to take into account the influence of their operations on their stakeholders. Thereby, from theoretical perspectives, the primary objective of this chapter is to illustrate the role of Global Compact in corporate accountability and sustainability.

Design/methodology/approach

An extensive literature research is conducted in order to understand the relationship between Global Compact principles and corporate accountability and sustainability.

Findings

From a theoretical point of view, there are some conditions for the advancement of the corporate accountability and sustainability. For instance, there is need for stakeholders’ insistence about incorporating social and environmental values into the business economic decisions. Thus firms could contribute to not only worlds’ economic but also social as well as environmental future.

Research limitations/implications

The research is a theoretical study, but for further studies, empirical studies can be conducted to understand the interactions between Global Compact principles and corporate accountability and sustainability.

Practical implications

This study may be useful for managers to realize the role of Global Compact principles on corporate accountability and its contribution to being a sustainable firm.

Originality/value

There is a lack of studies that analyze the role of Global Compact principles on corporate accountability and sustainability. Examining the principles in light of corporate accountability and sustainability will add a value to the literature in this area.

Details

The UN Global Compact: Fair Competition and Environmental and Labour Justice in International Markets
Type: Book
ISBN: 978-1-78441-295-1

Keywords

To view the access options for this content please click here
Article
Publication date: 1 March 1994

Tom Mouck

Addresses the lack of any coherent intellectual perspective forestablishing a theory of corporate accountability that is neitherextreme right‐wing nor anti‐liberal…

Downloads
1405

Abstract

Addresses the lack of any coherent intellectual perspective for establishing a theory of corporate accountability that is neither extreme right‐wing nor anti‐liberal. Insights derived from Rorty′s Contingency, Irony and Solidarity are employed to develop a new perspective on the relationship between corporate activities and the public interest. This perspective is then joined with Dewey′s view of social intelligence and Barber′s notion of Strong Democracy to argue for an expansion of corporate social accountability.

Details

Accounting, Auditing & Accountability Journal, vol. 7 no. 1
Type: Research Article
ISSN: 0951-3574

Keywords

To view the access options for this content please click here
Article
Publication date: 5 March 2018

Nickson Hebert Odongo and Daoping Wang

This study aims to ascertain the magnitude to which real corporate responsibility (CR), ethics and accountability practices exist in Kenyan corporations.

Downloads
2674

Abstract

Purpose

This study aims to ascertain the magnitude to which real corporate responsibility (CR), ethics and accountability practices exist in Kenyan corporations.

Design/methodology/approach

The insights of qualitative and quantitative approaches are investigated through descriptive and exploratory study carried out on 193 Kenyan companies in the corporate sector and 5 focus groups discussions comprising 9 members each.

Findings

The paper divulged that current practices on CR, ethics and accountability are relatively low, as only senior managers underwent training on ethics; accountability was broadly perceived as resources accounting instead of actual accountability; and responsibility is highly skewed toward senior management at the expense of stakeholders and society in which they thrive.

Research limitations/implications

The concept of sustainability has not been emphasized as a dimension of CR, ethics and accountability. Fresh opportunities of inquiry are extended considering this aspect.

Practical implications

This study affirms practices that have a positive effect on corporate stakeholders, communities and environment.

Social implications

This study strives to develop approaches of managing and controlling, ensuring that the welfare of stakeholders and society as a whole is uplifted and sustained.

Originality/value

The conception of CR, ethics and accountability practices signifies a theoretical innovation.

Details

Social Responsibility Journal, vol. 14 no. 1
Type: Research Article
ISSN: 1747-1117

Keywords

1 – 10 of over 22000