Tony Nwanji - Academia.edu (original) (raw)

Papers by Tony Nwanji

Research paper thumbnail of Can corporate governance mechanisms deter earnings management? Evidence from firms listed on the Nigerian Stock Exchange

The debate on the impact of corporate governance mechanism on earnings management remains inconcl... more The debate on the impact of corporate governance mechanism on earnings management remains inconclusive. The current paper explored the use of Two Stage Least Square (2SLS) estimation techniques to examine the relationship between the two constructs based on data sourced from listed companies on the floor of the Nigerian Stock Exchange between 2012 to 2016. We excluded financial industry data based on the peculiarity of the sector’s annual financial reporting system. Our results reveal that at best the relationship between corporate governance code and earnings management is mixed. In specific, it shows that governance code exerts negative influence on earnings management, while a positive relationship was observed to exist between earnings management and Insiders ownership. It was also noted that board independence and auditors’ independence has little or no effect on earnings management. The study therefore recommend that in order to curb earnings management practices, governance c...

Research paper thumbnail of Performance of Firm and Board Attributes Nexus: Using Hausman Test Analysis

International Journal of Financial Research

With the rise of corporate failures and the conflict of interest arising from shareholders and th... more With the rise of corporate failures and the conflict of interest arising from shareholders and the management, there have been growing concerns in corporate governance (CG). It is there is ponsibility of the board of director in CG is to oversee the management as well as the firm performance and to make the management accountable to shareholders. Hence this research examines the connection between firms’ performance and board features using board size, board independence in addition to board age as a proxy for board characteristics and turnover as a proxy for firm performance. A sample size of 16 consumer goods firms out of a population of 20 consumer goods firms listed in the NSE from 2016 to 2019 was used using a judgmental sampling technique. Secondary data employed was taken out from the sampled firms’ annual reports. Hausman test analysis was used to select the appropriate regression model, which is the fixed effect regression model that was utilized to analyse the connection b...

Research paper thumbnail of Audit Committee Quality and Financial Reporting in Deposit Money Banks in Nigeria

Asian Economic and Financial Review

Research paper thumbnail of Enterprise Risk Management (ERM) and Firm’s Performance: A Study of Listed Manufacturing Firms in Nigeria

Research in World Economy

Increased volatility in the business world has exposed the inadequacy of traditional approaches t... more Increased volatility in the business world has exposed the inadequacy of traditional approaches to risk management. This has led to an integrated approach to measuring and managing risks known as enterprise risk management (ERM). At the same time, past studies on ERM disclosures have examined it within the context of book-based approach, which has not given the right and accurate information. However, this paper examined the significance of enterprise risk management and listed manufacturing firms' financial performance in Nigeria using both the book-based approach and the market-based approach. Relevant ERM theories in relation to financial performance such as Agency Theory, Stakeholders Theory, and Enterprise Risk Management Theory were examined. A panel data analysis was employed on time series and cross-sectional data of thirty listed manufacturing firms in Nigeria from 2010 to 2018. The random effect of the Hausman test was found to be more appropriate and hence adopted in ...

Research paper thumbnail of Impact of Foreign Direct Investment on the Financial Performance of Listed Deposit Banks in Nigeria

International Journal of Financial Research

In this study, we examine the impact of foreign direct investment (FDI) on the financial performa... more In this study, we examine the impact of foreign direct investment (FDI) on the financial performance of Nigerian listed deposit banks. We collected secondary data from the annual reports and accounts of 14 banks between 2010 and 2017. We employed the Tobin Q quantitative method for the analysis. We adopted the theoretical framework of pecking order theory since the analysis of the impact of FDI on the financial performance of these banks are both inward and outward FDI. The Tobin Q method was used as the dependent variable and FDI as an independent variable. Board size, firm size, equity capital and reinvested earnings were all financial performance indicators employed to test the impact of FDI on the financial performance of the banks on understudy in Nigeria. The result of the data analysis and findings showed that FDI had contributed positively to the development and performance of the deposit banks over the period under consideration. Our theoretical findings suggest a positive ...

Research paper thumbnail of The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nigerian Stock Exchange Market

The International Journal of Business & Management

The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nige... more The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nigerian Stock Exchange Market 1. Introduction Influence of board opus on recital of companies is a decisive research cram. There are many researches have been operated in developed countries but very number have been done on developing countries. Very a smaller number of researches have been undertaken in major African countries such as Nigeria, Ghana, and Economic Community of West African Countries (ECWAC). Particularly in the financial service sector. Studies that examined the board compositions and financial performance showed that there is some doubt as to whether there is a

Research paper thumbnail of Performance of deposit money banks and liquidity management in Nigeria

Banks and Bank Systems

This study examined the performance of selected quoted deposit banks of Nigeria and liquidity man... more This study examined the performance of selected quoted deposit banks of Nigeria and liquidity management. Secondary data used was extracted from the financial statements of 15 money deposit banks out of population of 17 deposit money banks on the Nigerian Stock Exchange (NSE) for 2012–2017 (six years). The descriptive research design was used. The data collected was analyzed using ordinary least square method (OLS). Liquidity management was measured using capital ratio (CTR), current ratio (CR) and cash ratio (CSR), while performance was measured using return on assets (ROA). Based on the results of the study, liquidity management proxied by capital ratio, current ratio and cash ratio and performance of the firm proxied by return on assets are positively related. The result shows that liquidity management is an essential factor in business operations and consequently leads to business profitability. Hence proper liquidity management helps solve the agency theory problem of agency co...

Research paper thumbnail of Mobile marketing technology adoption in service SMEs: a multi-perspective framework

Journal of Science and Technology Policy Management

Purpose The popularity and use of mobile marketing technologies or devices have led to significan... more Purpose The popularity and use of mobile marketing technologies or devices have led to significant interest from researchers and practitioners, particularly in small- and medium-sized enterprises (SMEs), where these technologies offer significant benefits to SMEs given the poor human capital and financial constraints encountered. The use of mobile marketing devices assists SMEs to boost their sales promotion strategies which aim at increasing the sales of their products and services. However, there has been limited focus on developing a suitable framework that enables the evaluation and shared an understanding of the factors influencing the adoption of mobile marketing technology by service SMEs in Nigeria. Therefore, this paper aims to develop a theoretically grounded framework for exploring these factors and explaining their impact on mobile marketing technology adoption in SMEs in Nigeria. Design/methodology/approach The study is qualitative and used both unstructured and semi-st...

Research paper thumbnail of The effect of fiscal and monetary policies interaction on stock market performance: Evidence from Nigeria

Future Business Journal

Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public.

Research paper thumbnail of Examining Mobile Marketing Technology Adoption from an Evolutionary Process Perspective: The Study of UK Service SMEs

International Journal of Business Information Systems

Research paper thumbnail of Assessment of the Effectiveness of Ethical Corporate Governance in Corporate Decision-Making: A Grounded Theory Approach

Archives of Business Research

The article focused on the effectiveness of ethical corporate governance in decision making by th... more The article focused on the effectiveness of ethical corporate governance in decision making by the board of directors of top listed companies. Through the application of grounded theory approach in analysing data collected via the survey questionnaire, a substantive theory of ethical corporate governance is developed. The substantive theory developed is based on the shareholdership model of empowerment to create wealth and stakeholdership model of expectation to shared values. In term of ethical corporate governance, through organisations code of conduct and corporate social responsibility policies, companies can reach out to their broader stakeholdership groups through engagement with stakeholders. Such engagement is ongoing with shareholdership groups through boards' accountability to shareholders-the finding from this study further our understanding of ethical corporate governance issues.

Research paper thumbnail of A Review of the Two Main Competing Models of Corporate Governance: The Shareholdership Model Versus the Stakeholdership Model

Corporate Ownership and Control

This paper reviews the impact of the shareholdership and stakeholdership models in guiding manage... more This paper reviews the impact of the shareholdership and stakeholdership models in guiding managers through the most appropriate way of delivering business objectives. The shareholder model is the traditional Anglo-American system of corporate governance, which focuses on the maximisation of shareholder wealth, while the stakeholder model is considered to be exemplified by the German system of corporate governance and focuses on meeting the needs and expectations of a wider range of stakeholder groups. The results from this study indicate that a combination of both models could enable management to deliver the needs of stakeholders groups, while in the long term maximizing wealth for the shareholders

Research paper thumbnail of Interest Rate and Economic Growth: The Case of Nigeria

International Review of Business Research Papers, 2017

Research paper thumbnail of Economic growth, financial development and trade openness in Nigeria: An application of the ARDL bound testing approach

Cogent Economics & Finance, 2016

For over a decade now, various efforts have been put in place by various governments of the devel... more For over a decade now, various efforts have been put in place by various governments of the developing economies to promote economic growth, financial development and expand trade with mixed results. The ability of financial development and/or trade openness to influence economic growth in the developing economies has been a subject of hot debate and remains inconclusive. While a number of scholars are of the view that compelling cointegration exists among each of these constructs, another set of substantial authors have documented that economic growth, trade openness and financial development do evolve independent of each other. Drawing from four financial developments-growth nexus theories, this study used the ARDL bound estimation techniques to examine the existence of cointegration among economic growth, financial development and trade openness in Nigeria. We intend to know what policy instruments need to be manipulated so as to achieve economic growth and financial stability. Our results show that a two-way cointegration exists between economic growth and financial development, on the one hand, as well as between economic growth and trade openness, on the other hand. We therefore recommend that in order to achieve economic growth, policymakers should pursue strong financial development and increase trade openness.

Research paper thumbnail of Ethical Perspectives on Corporate Governance

Corporate Governance in Africa, 2016

Research paper thumbnail of Shaping National Science and Technology Base with Policy: A Case Study of Gambia National Science and Research Policy (2006-2010)

International Journal of African and Asian Studies, 2013

This paper evaluated the contributions of science and research policy to the development of creat... more This paper evaluated the contributions of science and research policy to the development of creative and innovative research and the science and technology base of a nation. Using case study strategy of inquiry, it addressed the research question of whether the science and research policies of the Gambia (2006-2010) could significantly shape the science, technology and innovation base of the nation through mediating effects on scientific activities. In contributing to empirical discussions in literature on policy implications for scientific activities, the paper suggests, first, that using public policies, research institutions including universities, could be strengthened to expand and improve national science and technology base. Public policies that foster scientific linkages and collaborations could contribute in building appropriate research competences of scientists, encourage the introduction of new and innovative ideas, and generally expand the national science and technology base. Second, the paper argued that in low income countries such as the Gambia with limited funds for research, the absence of a national science policy framework could lead to donor rather than demand driven research agendas, as research and innovative efforts would produce little research outcomes and necessary technologies to expand the national science and technology base.

Research paper thumbnail of Shareholdership, Stakeholdership and the Modern Global Business Environment: A Survey of the Literature

Journal of Interdisciplinary Economics, Jul 1, 2007

This paper surveys literature relating to the Anglo-American model (shareholder theory) and stake... more This paper surveys literature relating to the Anglo-American model (shareholder theory) and stakeholder theory of corporate governance in the modern global business environment. Stakeholder theory emerged during the 1970–80s and suggested that corporations should look beyond the shareholder perspective of profit maximisation. Through a survey of the literature we examine why the traditional Anglo-American model of corporate governance had difficulties when dealing with certain unethical business practices of corporate boards. Overall, this study investigates whether an application of deontological and teleological ethical theories may illustrate how boards of directors could manage stakeholder issues and deal with problematic moral dilemmas and ethical decisions.

Research paper thumbnail of Shareholdership, Stakeholdership and the Modern Global Business Environment: A Survey of the Literature

Journal of Interdisciplinary Economics, Jul 1, 2007

This paper surveys literature relating to the Anglo-American model (shareholder theory) and stake... more This paper surveys literature relating to the Anglo-American model (shareholder theory) and stakeholder theory of corporate governance in the modern global business environment. Stakeholder theory emerged during the 1970–80s and suggested that corporations should look beyond the shareholder perspective of profit maximisation. Through a survey of the literature we examine why the traditional Anglo-American model of corporate governance had difficulties when dealing with certain unethical business practices of corporate boards. Overall, this study investigates whether an application of deontological and teleological ethical theories may illustrate how boards of directors could manage stakeholder issues and deal with problematic moral dilemmas and ethical decisions.

Research paper thumbnail of Can corporate governance mechanisms deter earnings management? Evidence from firms listed on the Nigerian Stock Exchange

The debate on the impact of corporate governance mechanism on earnings management remains inconcl... more The debate on the impact of corporate governance mechanism on earnings management remains inconclusive. The current paper explored the use of Two Stage Least Square (2SLS) estimation techniques to examine the relationship between the two constructs based on data sourced from listed companies on the floor of the Nigerian Stock Exchange between 2012 to 2016. We excluded financial industry data based on the peculiarity of the sector’s annual financial reporting system. Our results reveal that at best the relationship between corporate governance code and earnings management is mixed. In specific, it shows that governance code exerts negative influence on earnings management, while a positive relationship was observed to exist between earnings management and Insiders ownership. It was also noted that board independence and auditors’ independence has little or no effect on earnings management. The study therefore recommend that in order to curb earnings management practices, governance c...

Research paper thumbnail of Performance of Firm and Board Attributes Nexus: Using Hausman Test Analysis

International Journal of Financial Research

With the rise of corporate failures and the conflict of interest arising from shareholders and th... more With the rise of corporate failures and the conflict of interest arising from shareholders and the management, there have been growing concerns in corporate governance (CG). It is there is ponsibility of the board of director in CG is to oversee the management as well as the firm performance and to make the management accountable to shareholders. Hence this research examines the connection between firms’ performance and board features using board size, board independence in addition to board age as a proxy for board characteristics and turnover as a proxy for firm performance. A sample size of 16 consumer goods firms out of a population of 20 consumer goods firms listed in the NSE from 2016 to 2019 was used using a judgmental sampling technique. Secondary data employed was taken out from the sampled firms’ annual reports. Hausman test analysis was used to select the appropriate regression model, which is the fixed effect regression model that was utilized to analyse the connection b...

Research paper thumbnail of Audit Committee Quality and Financial Reporting in Deposit Money Banks in Nigeria

Asian Economic and Financial Review

Research paper thumbnail of Enterprise Risk Management (ERM) and Firm’s Performance: A Study of Listed Manufacturing Firms in Nigeria

Research in World Economy

Increased volatility in the business world has exposed the inadequacy of traditional approaches t... more Increased volatility in the business world has exposed the inadequacy of traditional approaches to risk management. This has led to an integrated approach to measuring and managing risks known as enterprise risk management (ERM). At the same time, past studies on ERM disclosures have examined it within the context of book-based approach, which has not given the right and accurate information. However, this paper examined the significance of enterprise risk management and listed manufacturing firms' financial performance in Nigeria using both the book-based approach and the market-based approach. Relevant ERM theories in relation to financial performance such as Agency Theory, Stakeholders Theory, and Enterprise Risk Management Theory were examined. A panel data analysis was employed on time series and cross-sectional data of thirty listed manufacturing firms in Nigeria from 2010 to 2018. The random effect of the Hausman test was found to be more appropriate and hence adopted in ...

Research paper thumbnail of Impact of Foreign Direct Investment on the Financial Performance of Listed Deposit Banks in Nigeria

International Journal of Financial Research

In this study, we examine the impact of foreign direct investment (FDI) on the financial performa... more In this study, we examine the impact of foreign direct investment (FDI) on the financial performance of Nigerian listed deposit banks. We collected secondary data from the annual reports and accounts of 14 banks between 2010 and 2017. We employed the Tobin Q quantitative method for the analysis. We adopted the theoretical framework of pecking order theory since the analysis of the impact of FDI on the financial performance of these banks are both inward and outward FDI. The Tobin Q method was used as the dependent variable and FDI as an independent variable. Board size, firm size, equity capital and reinvested earnings were all financial performance indicators employed to test the impact of FDI on the financial performance of the banks on understudy in Nigeria. The result of the data analysis and findings showed that FDI had contributed positively to the development and performance of the deposit banks over the period under consideration. Our theoretical findings suggest a positive ...

Research paper thumbnail of The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nigerian Stock Exchange Market

The International Journal of Business & Management

The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nige... more The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nigerian Stock Exchange Market 1. Introduction Influence of board opus on recital of companies is a decisive research cram. There are many researches have been operated in developed countries but very number have been done on developing countries. Very a smaller number of researches have been undertaken in major African countries such as Nigeria, Ghana, and Economic Community of West African Countries (ECWAC). Particularly in the financial service sector. Studies that examined the board compositions and financial performance showed that there is some doubt as to whether there is a

Research paper thumbnail of Performance of deposit money banks and liquidity management in Nigeria

Banks and Bank Systems

This study examined the performance of selected quoted deposit banks of Nigeria and liquidity man... more This study examined the performance of selected quoted deposit banks of Nigeria and liquidity management. Secondary data used was extracted from the financial statements of 15 money deposit banks out of population of 17 deposit money banks on the Nigerian Stock Exchange (NSE) for 2012–2017 (six years). The descriptive research design was used. The data collected was analyzed using ordinary least square method (OLS). Liquidity management was measured using capital ratio (CTR), current ratio (CR) and cash ratio (CSR), while performance was measured using return on assets (ROA). Based on the results of the study, liquidity management proxied by capital ratio, current ratio and cash ratio and performance of the firm proxied by return on assets are positively related. The result shows that liquidity management is an essential factor in business operations and consequently leads to business profitability. Hence proper liquidity management helps solve the agency theory problem of agency co...

Research paper thumbnail of Mobile marketing technology adoption in service SMEs: a multi-perspective framework

Journal of Science and Technology Policy Management

Purpose The popularity and use of mobile marketing technologies or devices have led to significan... more Purpose The popularity and use of mobile marketing technologies or devices have led to significant interest from researchers and practitioners, particularly in small- and medium-sized enterprises (SMEs), where these technologies offer significant benefits to SMEs given the poor human capital and financial constraints encountered. The use of mobile marketing devices assists SMEs to boost their sales promotion strategies which aim at increasing the sales of their products and services. However, there has been limited focus on developing a suitable framework that enables the evaluation and shared an understanding of the factors influencing the adoption of mobile marketing technology by service SMEs in Nigeria. Therefore, this paper aims to develop a theoretically grounded framework for exploring these factors and explaining their impact on mobile marketing technology adoption in SMEs in Nigeria. Design/methodology/approach The study is qualitative and used both unstructured and semi-st...

Research paper thumbnail of The effect of fiscal and monetary policies interaction on stock market performance: Evidence from Nigeria

Future Business Journal

Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public.

Research paper thumbnail of Examining Mobile Marketing Technology Adoption from an Evolutionary Process Perspective: The Study of UK Service SMEs

International Journal of Business Information Systems

Research paper thumbnail of Assessment of the Effectiveness of Ethical Corporate Governance in Corporate Decision-Making: A Grounded Theory Approach

Archives of Business Research

The article focused on the effectiveness of ethical corporate governance in decision making by th... more The article focused on the effectiveness of ethical corporate governance in decision making by the board of directors of top listed companies. Through the application of grounded theory approach in analysing data collected via the survey questionnaire, a substantive theory of ethical corporate governance is developed. The substantive theory developed is based on the shareholdership model of empowerment to create wealth and stakeholdership model of expectation to shared values. In term of ethical corporate governance, through organisations code of conduct and corporate social responsibility policies, companies can reach out to their broader stakeholdership groups through engagement with stakeholders. Such engagement is ongoing with shareholdership groups through boards' accountability to shareholders-the finding from this study further our understanding of ethical corporate governance issues.

Research paper thumbnail of A Review of the Two Main Competing Models of Corporate Governance: The Shareholdership Model Versus the Stakeholdership Model

Corporate Ownership and Control

This paper reviews the impact of the shareholdership and stakeholdership models in guiding manage... more This paper reviews the impact of the shareholdership and stakeholdership models in guiding managers through the most appropriate way of delivering business objectives. The shareholder model is the traditional Anglo-American system of corporate governance, which focuses on the maximisation of shareholder wealth, while the stakeholder model is considered to be exemplified by the German system of corporate governance and focuses on meeting the needs and expectations of a wider range of stakeholder groups. The results from this study indicate that a combination of both models could enable management to deliver the needs of stakeholders groups, while in the long term maximizing wealth for the shareholders

Research paper thumbnail of Interest Rate and Economic Growth: The Case of Nigeria

International Review of Business Research Papers, 2017

Research paper thumbnail of Economic growth, financial development and trade openness in Nigeria: An application of the ARDL bound testing approach

Cogent Economics & Finance, 2016

For over a decade now, various efforts have been put in place by various governments of the devel... more For over a decade now, various efforts have been put in place by various governments of the developing economies to promote economic growth, financial development and expand trade with mixed results. The ability of financial development and/or trade openness to influence economic growth in the developing economies has been a subject of hot debate and remains inconclusive. While a number of scholars are of the view that compelling cointegration exists among each of these constructs, another set of substantial authors have documented that economic growth, trade openness and financial development do evolve independent of each other. Drawing from four financial developments-growth nexus theories, this study used the ARDL bound estimation techniques to examine the existence of cointegration among economic growth, financial development and trade openness in Nigeria. We intend to know what policy instruments need to be manipulated so as to achieve economic growth and financial stability. Our results show that a two-way cointegration exists between economic growth and financial development, on the one hand, as well as between economic growth and trade openness, on the other hand. We therefore recommend that in order to achieve economic growth, policymakers should pursue strong financial development and increase trade openness.

Research paper thumbnail of Ethical Perspectives on Corporate Governance

Corporate Governance in Africa, 2016

Research paper thumbnail of Shaping National Science and Technology Base with Policy: A Case Study of Gambia National Science and Research Policy (2006-2010)

International Journal of African and Asian Studies, 2013

This paper evaluated the contributions of science and research policy to the development of creat... more This paper evaluated the contributions of science and research policy to the development of creative and innovative research and the science and technology base of a nation. Using case study strategy of inquiry, it addressed the research question of whether the science and research policies of the Gambia (2006-2010) could significantly shape the science, technology and innovation base of the nation through mediating effects on scientific activities. In contributing to empirical discussions in literature on policy implications for scientific activities, the paper suggests, first, that using public policies, research institutions including universities, could be strengthened to expand and improve national science and technology base. Public policies that foster scientific linkages and collaborations could contribute in building appropriate research competences of scientists, encourage the introduction of new and innovative ideas, and generally expand the national science and technology base. Second, the paper argued that in low income countries such as the Gambia with limited funds for research, the absence of a national science policy framework could lead to donor rather than demand driven research agendas, as research and innovative efforts would produce little research outcomes and necessary technologies to expand the national science and technology base.

Research paper thumbnail of Shareholdership, Stakeholdership and the Modern Global Business Environment: A Survey of the Literature

Journal of Interdisciplinary Economics, Jul 1, 2007

This paper surveys literature relating to the Anglo-American model (shareholder theory) and stake... more This paper surveys literature relating to the Anglo-American model (shareholder theory) and stakeholder theory of corporate governance in the modern global business environment. Stakeholder theory emerged during the 1970–80s and suggested that corporations should look beyond the shareholder perspective of profit maximisation. Through a survey of the literature we examine why the traditional Anglo-American model of corporate governance had difficulties when dealing with certain unethical business practices of corporate boards. Overall, this study investigates whether an application of deontological and teleological ethical theories may illustrate how boards of directors could manage stakeholder issues and deal with problematic moral dilemmas and ethical decisions.

Research paper thumbnail of Shareholdership, Stakeholdership and the Modern Global Business Environment: A Survey of the Literature

Journal of Interdisciplinary Economics, Jul 1, 2007

This paper surveys literature relating to the Anglo-American model (shareholder theory) and stake... more This paper surveys literature relating to the Anglo-American model (shareholder theory) and stakeholder theory of corporate governance in the modern global business environment. Stakeholder theory emerged during the 1970–80s and suggested that corporations should look beyond the shareholder perspective of profit maximisation. Through a survey of the literature we examine why the traditional Anglo-American model of corporate governance had difficulties when dealing with certain unethical business practices of corporate boards. Overall, this study investigates whether an application of deontological and teleological ethical theories may illustrate how boards of directors could manage stakeholder issues and deal with problematic moral dilemmas and ethical decisions.