The concept of corporate governance (original) (raw)
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El Concepto De Gobierno Corporativo - the Concept of Corporate Governance
Visión de Futuro, 2021
This article aimed to identify the different concepts of corporate governance, in this sense, the first section presents a review of the literature based on the Methodi Ordinatio in relation to the concept of corporate governance (CG), followed by the revision of the theories from which it is studied: Theory of the agency; the shareholder or stockholder theory; the resource dependency theory; Stakeholder theory; the theory of Stewardship or Management Theory, the approach based on knowledge and corporate governance and the performance of the company, finally, the conclusion of the study in which it stands out that the objective of CG theories is not to study how managers govern - that would lead us to confuse the term governance with administration - but rather how it is
Insight of Corporate Governance Theories
todayscience.org
The progression of theories or models of corporate governance, it is one of the new dimensions taken in a very crux of social ethics that is minimal and profit making took center stage. In this competitive world, companies are trying to inculcate the wisdom of good governance into their corporate organization. With the massive outpouring of capitalism, companies became stronger while governments around the globe had to accede to its influences and supremacy. However, this paper is a review of literature on the variety of theories in corporate governance. The ultimate theories in corporate governance started with the agency theory, extended into stewardship theory and stakeholder theory and evolved to resource dependency theory, political theory, legitimacy theory and social contract theory. However, these theories discourse the cause and consequence of variables, such as the formation of board structure, audit committee, independent non-executive directors and the duties of upper management and their organizational and social responsibilities rather than its regulatory structures. Similarly, it is proposed that a mixture of various theories is best to describe an effective and efficient good governance practice rather than hypothesizing corporate governance based on a sole theory.
Corporate Governance: An organisational attribute or an academic exercise
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This conceptual paper provides an overview of the theory and application to the practice of corporate governance. The evolution of corporate governance theory and definitions are described, taking an international perspective. The paper offers insights at a national level into governance experiences within the UK, Ireland, and Cyprus. The paper reviews four classic corporate governance theories most often cited in the literature. Each theory is critically discussed and applied at an organisational level. The authors introduce language theory, sociology, psychology and organisational theory as a means of uncovering the changing governance epistemologies as corporate governance is more than economic and legal theories. A summary table outlining key foci, actors, features and critique of each model is provided so as to enable the reader easily identify each in practice. The paper concludes with recommendations for future research. Key terms: Corporate governance, board, behavioural theory, agency theory, stakeholder theory, resources dependency theory, stewardship theory, conceptual paper.
Review of Corporate Governance Theories
European Journal of Business and Management Research
Corporate governance is a mechanism in which conflict of interest between managers and shareholders is managed and controlled. From the perspective of stakeholders’ numerous theories have been proposed and emerged from different perspectives to offer solutions to these conflicts and reduce conflicts among the stakeholders. This paper talk about corporate governance theories to improve the mechanism of corporate governance understanding from different stakeholders’ perspectives.
Theoretical Perspectives of Corporate Governance
Corporate Governance is relatively a new area and its development has been affected by various theories from different domains including law, economics, finance and management. This article gives a theoretical overview within the discipline of corporate governance and also provides a review of how the main theory i.e., the agency theory as well as other theories like the stewardship theory, stakeholder theory, resource dependency theory and transaction cost economics theory have influenced the development of corporate governance. The study highlights the differences among these theories and their span over different disciplines with divergent scopes, along with the arguments on how these theories differ in their relevancy to fit-in various contexts. The study emphasizes the need for the development of a general theory of corporate governance in conjunction with the legal system (common law or civil law) and other actors. It gives a new mode of thinking and a new direction of researc...
2015
Abstract: The progression of theories or models of corporate governance, it is one of the new dimensions taken in a very crux of social ethics that is minimal and profit making took center stage. In this competitive world, companies are trying to inculcate the wisdom of good governance into their corporate organization. With the massive outpouring of capitalism, companies became stronger while governments around the globe had to accede to its influences and supremacy. However, this paper is a review of literature on the variety of theories in corporate governance. The ultimate theories in corporate governance started with the agency theory, extended into stewardship theory and stakeholder theory and evolved to resource dependency theory, political theory, legitimacy theory and social contract theory. However, these theories discourse the cause and consequence of variables, such as the formation of board structure, audit committee, independent non-executive directors and the duties o...
Classical and modern concepts of corporate governance (Stewardship Theory and Agency Theory)
Management, 2015
Summary The main issues in efficiency of a company as an organisation are relations between the Supervisory Board and the Management Board of a company, and the methods of functioning of Supervisory Boards in governance systems of a company. The classical and modern approach to the role, place, and importance of corporate governance presented in this article, is yet another prompt to continue searching for the optimum in the organisational, economical, and social meaning.
Corporate Governance: Its scope, concerns and theories
Corporate Governance, 1997
This paper outlines the conceptual, cultural, contextual and disciplinary scope of the rapidly evolving topic of corporate governance. As a basis for improving the rigour of research and analysis, some definitions are suggested. Reasons for the diversity of viewpoints and concerns are considered. To provide an orientation for new scholars and those from specialised disciplines, recent surveys of corporate governance are reviewed from their ethnocentric, contextual, and intellectual contingencies. The prospects of developing the topic as a "science of organization" are considered along with areas for future research.