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Book part
Publication date: 16 October 2014

Martin Stuebs and Li Sun

This chapter examines the association between corporate governance and environmental performance. The purpose of governance mechanisms is to build trust by ensuring that corporate…

Abstract

This chapter examines the association between corporate governance and environmental performance. The purpose of governance mechanisms is to build trust by ensuring that corporate responsibilities, including environmental responsibilities, are met. We obtain corporate governance data from the Investor Responsibility Research Center, Inc’s (IRRC’s) governance and director database and additional corporate governance and environmental performance data from Kinder, Lydenberg, and Domini’s (KLD’s) database. Our analyses document a significant positive association between corporate governance and environmental performance. Moreover, we find that corporate governance is positively related to environmental strengths, and negatively related to environmental concerns. Our findings contribute to and extend our understanding of the relationship between governance and performance and have important implications for policy makers, managers, investors, and others.

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Accounting for the Environment: More Talk and Little Progress
Type: Book
ISBN: 978-1-78190-303-2

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Book part
Publication date: 22 August 2017

David Crowther and Shahla Seifi

In this chapter the operation of governance in a variety of contexts is shown to be both essential and problematic. Reasons involve contextual and cultural differences as well as…

Abstract

In this chapter the operation of governance in a variety of contexts is shown to be both essential and problematic. Reasons involve contextual and cultural differences as well as different understandings. This led to a consideration of the desirability of global governance and the problems in regulating international markets. The relationship of governance with sustainability and with corporate social responsibility is also examined. In doing so this chapter provides an introduction to the volume and sets the scene for the other contributions.

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Modern Organisational Governance
Type: Book
ISBN: 978-1-78714-695-2

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Book part
Publication date: 1 January 2008

Preye Edward Gesiye Angaye and David Gwilliam

Purpose – This paper seeks to contribute to the debate on the role of corporate governance in developing, emerging and transition economies by focusing on the nature and practice…

Abstract

Purpose – This paper seeks to contribute to the debate on the role of corporate governance in developing, emerging and transition economies by focusing on the nature and practice of corporate governance in listed companies in Nigeria – a country which has experienced both economic growth and political turbulence over the past three decades and which too has experienced significant corporate failures in particular in the banking and insurance sectors. It does this against a contextual background which discusses issues of ethnicity, gender and power relationships and their relevance to governance in Nigeria.

Methodology – Archival and documentary analysis supported and underpinned by semi-structured interviews with 20 stakeholders in governance processes in Nigeria.

Findings – The analysis of the interviews highlighted the general support of the interviewees for corporate governance procedures and practices in Nigeria to continue to develop in line with those in more developed economies. However, concerns were expressed as to the inadequacies of aspects of the Nigerian governance regulatory infrastructure, in particular in relation to mechanisms for implementation and enforcement within a framework where there was limited confidence that either voluntary adherence to codes of good practice or market-driven regulation and control would be effective.

Contrary to the researchers’ expectations, the majority of the interviewees articulated the perspective that ethnicity, gender and power relationships were not of significance in the determination of the actuality of practice. However, a minority did identify these considerations to be of key importance, albeit frequently not overtly acknowledged or portrayed as such by parties associated with governance practices.

Research limitation(s) – The interviewees were drawn from a cross section of stakeholders from the business, government, regulatory and academic environment in Nigeria but the exigencies of conducting interview research in Nigeria and the difficulties of obtaining agreement from, and access to, interviewees meant that the potential for self-selection bias has to be considered when evaluating the study findings.

Practical Implication(s) – The research paper provides a platform for policy formulation on corporate governance in Nigeria.

Originality and value of paper – The paper builds on a number of previous studies of governance in Nigeria (for example, Oyejide & Soyibo, 2001; Yakasai, 2001; Ahunwan, 2002; Okike, 2007) in particular by means of the use of semi-structured interviews to provide a rich field of insight into the actuality of practice.

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Corporate Governance in Less Developed and Emerging Economies
Type: Book
ISBN: 978-1-84855-252-4

Book part
Publication date: 10 April 2013

Güler Aras and Banu Yobaş

The governance of capital market institutions did not receive much interest compared to their banking sector counterparts, partly due to their different ownership structures…

Abstract

The governance of capital market institutions did not receive much interest compared to their banking sector counterparts, partly due to their different ownership structures. Recent trends; increased competition, technological advances, structural changes, globalization, all had their share of impact on governance systems of capital markets institutions particularly on exchanges. Corporate governance of non-financial firms and capital markets institutions differ in several ways. Firstly the role of risk management differs since they may impose systemic risks to the financial system. Secondly well-implemented governance structures and processes are required but are not sufficient in capital markets since there are several conflicts of interests to be addressed. Therefore whether and how effectively they function is what matters. Thirdly the governance structures of such institutions exhibit different effectiveness on their decisions.The governance of FIs in capital markets is discussed in terms of board structure and management, risk governance, supervisors, shareholders, executive compensation, role of regulators, authorities and values and culture. The role of stock exchanges in corporate governance are discussed separately in terms of implementing corporate governance codes, demutualisation and its impact on regulations, transparency and accountability issues and the effects of M&As among exchanges. Market needs strong analytical tools and reliable benchmarks to assess governance risk. The corporate control and the regulation of the institutions by the exchanges when the corporations (regulated) are the competitors of the exchanges (regulators) or owned by the stockholders of the exchanges must be addressed. The risk of regulatory arbitrage, calls for the need of harmonisation among regulators. Better regulation of FIs and greater global coordination among regulators are seen as the most two important issues to prevent another crisis.

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The Governance of Risk
Type: Book
ISBN: 978-1-78190-781-8

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Book part
Publication date: 30 December 2004

Christine Pochet

This paper questions the issue of the dynamics of corporate governance in Japan using a conceptual framework adapted from North’s theory of institutional change. National systems…

Abstract

This paper questions the issue of the dynamics of corporate governance in Japan using a conceptual framework adapted from North’s theory of institutional change. National systems of corporate governance can indeed be considered a particular case of institutions. We thus suggest transposing North’s propositions about institutional change to national systems of corporate governance. As an illustration for our propositions, we choose to use a case study: the so-called Sogo crisis. The Sogo group is a Japanese chain of department stores, which has encountered financial problems in the late 1990s. The handling of those difficulties by the firm’s main stakeholders highlights both the recent changes in the Japanese system of corporate governance and the resistance opposed to them.

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Japanese Firms in Transition: Responding to the Globalization Challenge
Type: Book
ISBN: 978-0-76231-157-6

Book part
Publication date: 14 May 2018

Daina Mazutis

Over the last several decades, businesses have faced mounting pressures from diverse stakeholders to alter their corporate operations to become more socially and environmentally…

Abstract

Over the last several decades, businesses have faced mounting pressures from diverse stakeholders to alter their corporate operations to become more socially and environmentally responsible. In turn, many firms appear to have responded by implementing more sustainable practices — measuring, documenting, and publishing annual CSR or sustainability reports to showcase how they are addressing important issues in this area, including: resource stewardship, waste management, greenhouse gas emission reductions, fair and safe labor practices, amongst other stakeholder concerns. And yet, research in this domain has not yet systematically examined whether businesses have, on the whole, changed their practices in tandem with the important changes in its institutional context over time. Have corporate CSR initiatives, in fact, been growing over the last 25 years or has the increased attention to CSR actually been much ado about nothing? In this chapter, we review the empirical literature on CSR to uncover that common measures of CSR such as the KLD do not support the concept that CSR practices have increased substantively over the last 25 years. We supplement this historical review by modeling the growth curves of CSR implementation in practice and find that the pace of positive change has indeed been glacial. More alarmingly, we also look at corporate social irresponsibility (CSiR) and find that, contrary to expectations, businesses have become more, not less, irresponsible during this same time period. Implications of these findings for theory are presented as are suggestions for future research in this domain.

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Corporate Social Responsibility
Type: Book
ISBN: 978-1-78754-260-0

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Book part
Publication date: 7 January 2015

This chapter examines corporate governance–related financial reporting issues in the context of globalization. Over the past few decades, the process of globalization has…

Abstract

This chapter examines corporate governance–related financial reporting issues in the context of globalization. Over the past few decades, the process of globalization has substantially altered the fields of corporate governance and accounting. More specifically, Anglo-American models of corporate governance and financial reporting have received increasing momentum in emerging economies, including China. However, a review of relevant studies suggests that there is limited research examining the implementation of Anglo-American concepts in various countries regardless of their growing acceptance. This monograph extends the existing literature by comprehensively investigating the adoption of internationally acceptable principles and standards in China, the largest transitional economy that has different institutional context from Anglo-American countries. In addition, the review has a number of implications for developing the theoretical framework, and determining the research methodology for the monograph.

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Adoption of Anglo-American Models of Corporate Governance and Financial Reporting in China
Type: Book
ISBN: 978-1-78350-898-3

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Book part
Publication date: 23 June 2005

Anna Maria E. Mendoza, Vivien T. Supangco and Maria Teresa B. Tolosa

This exploratory study attempted to determine the level of formalization and implementation of corporate governance and risk management practices, and the role of human resource…

Abstract

This exploratory study attempted to determine the level of formalization and implementation of corporate governance and risk management practices, and the role of human resource management in the design and formulation of such practices. This study also attempted to derive some patterns of association among the variables studied, including the degree to which specific human resource management practices were linked with the overall corporate governance and risk management objectives. Human resource management was consulted from time to time during the formulation of strategic plan, the design of behavioral control mechanisms, and the development of risk management guidelines and formal corporate culture programs. However, it was consulted only during implementation of corporate governance structures at the board level. Generally, human resource management involvement in the formulation of corporate governance and risk management mechanisms was related to the degree of formalization and implementation of such mechanisms, but not to the degree of congruence of human resource management functions with corporate governance and risk management objectives. However, the degree of formalization and implementation of corporate governance structures at the board level was related to the degree of congruence of human resource management functions with corporate governance and risk management objectives and the driver measures of performance. The latter was likewise related to mechanisms of behavioral control.

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Corporate Governance: Does Any Size Fit?
Type: Book
ISBN: 978-1-84950-342-6

Book part
Publication date: 1 January 2008

Esinath Ndiweni

Purpose – The paper attempts to locate the debate on corporate governance in a social and cultural context.Methodology – It draws on the traditional African philosophy of ubuntu…

Abstract

Purpose – The paper attempts to locate the debate on corporate governance in a social and cultural context.

Methodology – It draws on the traditional African philosophy of ubuntu and articulates how this might affect corporate governance frameworks. The paper utilises multiple methods that include interviews, a review of documents, and case studies. It analyses incidents from across Southern Africa that demonstrate how notions of ubuntu influence corporate practices.

Findings – The incidents in selected organisations reveal how multinational corporations are involved in the delivery of social welfare programmes to their employees and local communities. Such practices underscore the differences in perceptions about corporate social responsibility in the West and Southern Africa.

Practical implications – It highlights the implications of these practices for multinational corporations and auditors who do business in Southern Africa.

Originality – The paper argues that ubuntu informs corporate practices and influences perceptions on what constitutes ‘good’ corporate governance and ethics in Southern Africa. Finally, it proposes an alternative corporate governance framework informed by ubuntu, communitarianism, and stakeholder theories. Arguably, such a corporate governance framework will take into account the social and historical context of Southern Africa.

Research limitations – The proposed corporate governance framework might suit only those communities who subscribe to ubuntu values and communitarianism.

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Corporate Governance in Less Developed and Emerging Economies
Type: Book
ISBN: 978-1-84855-252-4

Book part
Publication date: 16 January 2023

Oluwakemi Ojenike

The breakout of the COVID-19 pandemic presented a unique set of challenges that threatened the reality of business as we knew it. Weaknesses in business structures, direction, and…

Abstract

The breakout of the COVID-19 pandemic presented a unique set of challenges that threatened the reality of business as we knew it. Weaknesses in business structures, direction, and governance became more glaring, with ripple effects that will continue to unravel in the years to come. The adoption of corporate governance standards in Nigeria is still at low levels, and the pandemic is forcing many enterprises to take a closer look at their preparedness for an uncertain future. In this chapter, we explore the practical contribution of corporate governance to organisational success and key lessons that businesses should adopt as we accept the new realities of a post-pandemic world.

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Responsible Management of Shifts in Work Modes – Values for Post Pandemic Sustainability, Volume 2
Type: Book
ISBN: 978-1-80262-723-7

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