This article argues, first, that new theoretical ways of thinking about companies are coming to the fore and, second, that these new ways of thinking are finding their way into some aspects of company law and regulation. Snider's device of tracking the emergence of new ideas as `journey from academic journal to economic policy to law' is employed in support of the article's main argument. In particular, it is submitted that the idea of the firm as a `nexus of contracts' is being replaced by the idea of the firm as a `behavioural entity'. While management and economics theorists have gone `inside the black box' in order to ask different questions and produce better theories, the law has arrived there via a much more pragmatic route. However, recent developments in two areas of company law and regulation, corporate criminal responsibility in the UK and Australia and corporate governance in the UK, can be seen in terms of a move away from a focus on the individual decision maker and towards the concept of corporate culture.
Formation of company citizenship leads to success for the multinational companies by creating psychological alignments of the employee. This, therefore, should be considered as the international strategy of a multinational firm to create unique resources for competitive success. Successful multinational firms develop a common pattern of business performance by creating company citizenships, which include a primary focus on such values as organizational innovation, and a goal orientation. These values ultimately create commitment of the employees. This book proposes that there are some specific espoused values in every important multinational company, which form their organizational cultures and create values, which in turn may create enhanced performance of the organization. We can call this interrelationship between culture and performance as the company citizenship. This company citizenship can be transmitted from one part of the globe to another through the transmission of its corporate management and operations management system as a strategy of a multinational company.
In: Vestnik Voronežskogo Gosudarstvennogo Universiteta: periodičeskij naučnyj žurnal = Proceedings of Voronezh State University. Serija Ėkonomika i upravlenie, Issue 2, p. 18-28
Subject. At present, Russian and foreign researchers pay a lot of attention to the imperfections in the corporate culture of Russian organisations. During the study of the development of the corporate culture, it was proved that there is a need in developing additional measures to ensure the independence of internal auditors and increase their interest in maximum results achieved by the corporate organisation, as well as the need to single out in-process inspection of business processes within the internal audit of the corporation. The aspects distinguished by the authors prove the importance of the research.Objectives. To develop theoretical foundations of in-process inspection which allows solving applied problems related to achieving the security and financial stability of corporate organisations. Methods. To achieve the goals, the authors used the methods of modelling, comparison, information systematisation which allowed generalising the theoretical and organisational aspects of the in-process inspection of the corporation's activities. Results. The definition of the in-process inspection of the corporation's activities was specified, as well as its subject, goals, and related tasks. The subjects and objects of the in-process inspection as well as its principles were determined. The necessity of introducing tools for the in-process inspection as an important element of the management system of a corporate organisation was justified. Conclusions. The proposed approach to the organisation of the in-process inspection can be applied by corporate organisations of various types of economic activity, which will allow considerably reducing production risks.
This report discusses The U.S. economy is growing increasingly interconnected with other economies around the world, a phenomenon often referred to as globalization. As U.S. businesses expand globally, however, various groups across the social and economic spectrum are growing concerned over the economic, social, and political impact of this activity. Over the past 15 years, multinational corporations and nations have adopted voluntary, legally enforceable, and industry-specific codes of conduct to address many of these concerns. This report provides background on the issue and briefly examines options for Congress to address it.
Volume 14 of Advances in Financial Economics presents recent research on corporate governance from a number of countries across the world, including the United States, Spain, Malaysia, Israel and others. Many important corporate governance mechanisms are examined, such as board characteristics (size, independence, duality, staggered form), ownership structure, legal protection of shareholders, annual general meetings, and executive compensation. The findings have implications for mergers and acquisitions, IPOs, related party transactions, CEO pay, volume of trading and stock volatility, and underwriting. Thus, the implications of corporate governance for firm performance and shareholder experience are covered through the salient activities of firms.
Undertakings in difficulty, having exhausted all market options, may resort to State aid to rescue and/or restructure its operations in order to return to viability. the author looks closer into the opportunity for such undertakings to change within so as to abandon practices which may have represented at least one of the roots of the deficiencies leading them to difficulties. The stringent rules of rescue and restructuring of firms in difficulties provide a second chance to restore their business, account of debts, take stock of actions and potentially rise again. Yet, the overall restructuring given as a second chance by the State aid and the role of the state, should not present a carte blanche for old policies and approaches to be repeated with the taxpayers' money. The restructuring should also be a stock-taking opportunity, an internal scrutiny where the corporate culture and the governance of the undertaking changes as well. There should be room to (re)consider corporate governance and audit of corporate culture as elements of restructuring process as well as restructuring plans, to prevent the undertaking on the receiving end of State aid to lapse again. Being given a second chance, applying practices and exercising behaviour that (may) have lead the undertaking to its difficulties, is not a guarantee of successful restructuring and return to viability but may, indeed, represent an internal subjective peril to the objective restructuring goals to be achieved. Hence, the author explores whether non-tangible elements such as an enhanced corporate governance and change of corporate culture, should be introduced as mandatory in the course of undertaking restructuring. The author does not probe into corporate governance and corporate culture as such, but perceives them as welcoming factors to achieve the desired outcome of restructuring aid, namely a successful return to viability using restructuring aid. ; Poduzetnici u poteškoćama, nakon što su iscrpili sve tržišne opcije, mogu se podvrgnuti državnim potporama kako bi spasili odnosno restrukturirali svoje poslovanje u cilju vraćanja održivosti. U posezanju za ovom mogućnošću, autorica pobliže ispituje mogućnost takvog poduzetnika da provede promjene iznutra kako bi napustio onu praksu koja je možebitno bila jedan od korijena manjkova koji su doveli do poteškoća. Stroga pravila spašavanja i restrukturiranja poduzetnika u poteškoćama pružaju priliku za davanje druge šanse u obnovi svog poslovanja, sagledavanje dugovanja, analizu potrebnih koraka i potencijalni novi rast. No, cjelokupno restrukturiranje kao druga šansa koju daje državna potpora te uloga države, ne predstavljaju carte blanche za nastavak stare prakse i pristupa koji će se ponoviti s novcem poreznih obveznika. Restrukturiranje bi trebalo analizirati cjelinu, obuhvatiti internu analizu pri čemu se korporativna kultura i upravljanje također podvrgavaju promjenama. Autorica vjeruje da postoji prostor za razmišljanje o korporativnom upravljanju i analizi korporativne kulture kao elementima procesa restrukturiranja i planova restrukturiranja kako bi se spriječilo poduzetnika koji prima državnu potporu, da ponovno posrne. Dobivanje druge šanse, primjenom onih ponašanja koji su doveli poduzetnika u poteškoće, nije jamstvo uspješnog restrukturiranja i povratka održivosti već, uistinu, može predstavljati subjektivnu opasnost ostvarenju objektivno postavljenih ciljeva. Stoga, autorica istražuje ne bi li neopipljivi elementi poput korporativnog upravljanja i promjene korporativne kulture bili prepoznati kao obvezni elementi procesa restrukturiranja. Autorica ne zahvaća dubinski korporativno upravljanje i korporativnu kulturu već ih sagledava kao dobrodošle faktore doprinosa željenom cilju potpore za restrukturiranje – uspješan povratak održivosti korištenjem državne potpore. ; Unternehmen in Schwierigkeiten können nach Erschöpfung aller Marktmöglichkeiten auf staatliche Beihilfen zur Rettung und Umstrukturierung von Unternehmen in Schwierigkeiten zurückgreifen, um die Rentabilität wiederzuerlangen. In diesem Beitrag befasst man sich detaillierter mit der Möglichkeit der Veränderung innerhalb des Unternehmens, beispielsweise mit der Möglichkeit der Beseitigung von Verhaltensweisen, welche wenigstens eine der Wurzeln der Mängel darstellen, die diese Schwierigkeiten verursacht haben. Die strengen Regeln der Rettung und Umstrukturierung von Unternehmen in Schwierigkeiten geben ihnen eine zweite Chance, ihre Rentabilität wiederherzustellen, sich die Schulden anzuschauen und die notwendigen Maßnahmen sowie auch potentiellen Wachstum zu analysieren. Aber die ganze Umstrukturierung als die vom Staat gegebene zweite Chance und die Rolle des Staates stellen keine Carte blanche für die Fortsetzung mit der alten Praxis und dem Ansatz dar, welche sich auf das Geld der Steuerpflichtigen stützen werden. Die Umstrukturierung sollte die Ganzheit analysieren und eine interne Unternehmensanalyse darstellen, bei welcher sowohl die Unternehmenskultur als auch die Unternehmensführung verändert werden. In diesem Beitrag vertritt man die Ansicht, dass es Raum für Überlegungen gibt, die Unternehmensführung und die Analyse der Unternehmenskultur als Elemente des Umstrukturierungsprozesses und –planes anzusehen, um zu verhindern, dass das Beihilfe empfangende Unternehmen wieder stolpert. Falls das Unternehmen bei der zweiten Chance die Verhaltensweisen, dank welchen es in Schwierigkeiten geraten ist, wiederholt, kann erfolgreiche Umstrukturierung und Wiedererlangung der Rentabilität nicht gewährleistet werden, sondern eher eine subjektive Gefahr für die Erreichung objektiver Ziele darstellen. Deshalb wird in diesem Beitrag untersucht, ob immaterielle Elemente wie Unternehmensführung und Änderung der Unternehmenskultur als obligatorische Elemente des Umstrukturierungsprozesses anerkannt werden können. Dabei werden die Unternehmensführung und –kultur nicht detaillierter bearbeitet, sondern nur als willkommene Beiträge zur erfolgreichen Wiedererlangung der Rentabilität durch die staatliche Beihilfe, dem gewünschten Ziel der Umstrukturierungsbeihilfe, angesehen. ; Gli imprenditori in difficoltà, dopo avere esaurito tutte le opzioni del mercato, possono sottoporsi agli aiuti di stato al fine di salvare ovvero di ristrutturare la propria attività con l'intento di ripristinarne la sostenibilità. Nel cogliere tale possibilità, l'autrice indaga nel dettaglio circa la possibilità di tale imprenditore di portare a termine tale cambiamento dall'interno, al fine di abbandonare quella prassi che probabilmente rappresentava una delle radici delle lacune che hanno portato alle difficoltà. Le rigorose regole per il salvataggio e la ristrutturazione dell'imprenditore in difficoltà offrono l'opportunità per dare una seconda chance nel rinnovamento dell'attività, nella valutazione dei debiti, nell'analisi dei passi necessari e nella potenziale nuova crescita. Tuttavia, l'intera ristrutturazione quale seconda opportunità concessa dagli aiuti di stato, come anche il ruolo dello Stato, non danno carta bianca per il proseguimento della vecchia prassi ed approccio che si ripeterebbero con il denaro dei contribuenti. La ristrutturazione andrebbe analizzata nell'intero, ricomprendendo l'analisi interna e con ciò la cultura aziendale e la corporate governance andrebbero altresì soggette a cambiamenti. L'autrice crede che esista spazio per ripensare alla corporate governance e per l'analisi della cultura aziendale quali elementi del processo di ristrutturazione e dei piani di ristrutturazione al fine di evitare che l'imprenditore, che si avvalga degli aiuti di stato, vada nuovamente in crisi. Ricevere una seconda opportunità, mettendo in essere quei comportamenti che hanno trascinato l'imprenditore nelle difficoltà, non rappresenta la garanzia di una buona ristrutturazione e di recupero della sostenibilità, ma può rappresentare un pericolo soggettivo nella realizzazione dei fini postisi. Pertanto, l'autrice valuta se degli elementi impalpabili quali la corporate governance e la cultura aziendale non debbano divenire elementi obbligatori del processo di ristrutturazione. L'autrice non entra in profondità nella corporate governance e nella cultura aziendale, bensì li osserva quali fattori ben accetti nell'apporto al raggiungimento del fine del sostegno alla ristrutturazione – un ritorno di successo alla sostenibilità mediante l'uso degli aiuti di stato.
This study explores the influence of national culture upon leaders' interpretations of corporate environmentalism. The first part of the paper reviews the theoretical and empirical premises for a common interpretation of corporate environmentalism across countries. Three dimensions of corporate environmental performance are distilled from the qualitative literature developed in North America: organizational embeddedness, capacity to undertake environmental actions, and responsibility for protecting nature. We develop a survey instrument to measure corporate environmentalism and collect data from two random samples of Chinese (Shanghai-based) and Japanese executives. Exploratory factor analyses suggest that North American, Chinese, and Japanese executives employ three similar dimensions to interpret the corporate environmental performance of their companies. Using these dimensions, the second part of the study compares the overall degree of corporate environmental performance reported on the average by Chinese and Japanese executives. The study also investigates the influence of national culture, environmental values and socioeconomic contexts upon firm-level greening in both countries.
"At its heart, the book is a 21st century survey of innovative business leadership that builds on the stories of courageous leaders at corporations willing to dig deeply into their inventory of experiences to support authentic communications, establish credible brand positioning, and improve employee retention and recruitment. Iconic examples of inside-out business positioning using heritage range from the sartorial remake of Brooks Brothers to stories of innovation told by company employees at Subaru; from New Balance's immersive global headquarters exhibit that aptly conveys its dynamic culture to the creation and maintenance of the Wrigley archive.The book makes a powerful case for the brand value of applying corporate heritage for companies seeking to grow and remain relevant in a competitive, global economy." --
Der Beitrag zu Corporate Citizenship (CC) von Unternehmen identifiziert die Felder von Unternehmensethik und CC als Aktions- und Orientierungsformen: Felder, auf denen sich der gesellschaftliche Diskurs vollziehen kann und in denen neue Kooperationen entstehen können. Dabei gilt es, die Dimensionen unternehmerischer Verantwortung (Macht, Geld, Sinn) als Leitmedien des sozialen Lebens nicht zu isolieren, sondern in ihren Wechselwirkungen zu reflektieren. Die Ausführungen gliedern sich in die folgenden Aspekte: (1) das klassische Bild des Unternehmers zwischen Abenteurer und strategischem Genie, (2) die industrielle und bürokratische Rationalisierung, (3) die Aktivierung von Engagement und Interesse im Kontext technisch geprägter Apparate und sozialer Netze, (4) Cultural Citizenship (Mäzenatentum, Sponsoring), (5) CC zwischen Bürgergesellschaft und Zivilgesellschaft, (6) die Individualisierungsprozesse in der Arbeitsorganisation sowie (7) die Herausforderungen der modernen Unternehmensführung durch die sozialen Probleme und Potenziale ihrer inneren und äußeren Umwelten. Vernetzung und Lernen erzeugen auf diese Weise in sozial engagierten Unternehmen Sinn über die Marktrationalität hinaus. (ICG2)
