The meaning of corporate governance: managerial implication (original) (raw)
Related papers
Lexikon der Arbeits- und Industriesoziologie, 2013
After a long hiatus, the study of corporate governance has recently enjoyed a revival,' but few points of consensus have emerged. Political differences are sometimes responsible for this impasse, 2 but failure to address the economics of corporate governance in microanalytic terms is also a factor. Lacking a framework that permits detailed analysis of transactions among the various constituencies of the corporation-labor, owners, suppliers, customers, the community, and management-commentators have presented their arguments at such a high level of generality that an assessment of the merits of the alternative positions is very difficult. This Article t Gordon B. Tweedy Professor of Economics of Law and Organization, Yale University. I gratefully acknowledge helpful comments by Reinier Kraakman, Henry Hansmann, and members of my class in Economic Organization. 1. The revival results partly from European efforts to implement co-determination. For recent discussions of co-determination, see M. AOKI, THE COOPERATIVE GAME THEORY OF THE FIRM chs.
Corporate governance: quo vadis
Corporate Governance, 2011
Purpose -This paper aims to examine current research trends into corporate governance and to propose a different dynamic, humanistic approach based on individual purpose, values and psychology.
Corporate Governance: An organisational attribute or an academic exercise
The Market, 2021
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.
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...
A comparative corporate governance mechanism
Journal of Public Administration and Policy Research, 2018
This paper presents an analysis of the connection between management and governance. Management is a business function that has been entrusted with providing leadership support to organisations' resources to realise strategic goals and objectives. In contemporary management, however, another function of leadership has been realised which is governance. Experts have identified that while the two have distinctive responsibilities, collaboration can be effective in realising value for the stakeholders. The paper has examined governance and management from an explicit perspective and then identified the boundaries, connections, and issues between them. The study has found out that although the management and governance have differed in responsibilities to the organisation, they both are responsible for leadership. Notably, however, it has also been identified that since it is the role of the governing body to monitor and guide the management, management issues such as impression management arise. The paper has adopted the content analysis research design which involves studying literature and identifying patterns to draw a conclusion. Literature research related to the two key words; management and governance.
Introduction to Corporate Governance
2018
While corporate governance has attracted a great deal of attention among the developed countries of the world it has clearly become a global issue to be addressed in some fashion by all countries regardless of their stage of economic development. Given that, it is appropriate to note the definition of corporate governance that was used by the Organisation of Economic Co-operation and Development (“OECD”) in its 2004 Principles of Corporate Governance:
Rethinking Corporate Governance
2013
Introduction 1. Corporate Governance: Theory and Evidence 2. Private Benefits of Control 3. The Law and Economics of Control Powers: A theoretical Framework 4. Legal Distribution of Corporate Powers 5. How to Cope with Self-Dealing 6. Regulation of Related-Party Transactions: A Comparative Analysis 7. Takeovers: Law and Economics 8. Comparative Takeover Law 9. Concluding Remarks
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
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.