The Ethics of Corporate Governance
In: Review of social economy: the journal for the Association for Social Economics, Band 40, Heft 3, S. 360-370
ISSN: 1470-1162
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In: Review of social economy: the journal for the Association for Social Economics, Band 40, Heft 3, S. 360-370
ISSN: 1470-1162
In: The American journal of economics and sociology, Band 43, Heft 1, S. 19-36
ISSN: 1536-7150
Abstract. Any realistic theory of the firm must take into account the governing structure of the enterprise. Unfortunately, neoclassical economic theory ignores most of the problems associated with firm goal structures and the issue of corporate governance. We argue that shareholder wealth maximization under less than perfectly competitive conditions has serious normative deficiencies. From a positive point of view, it appears that shareholders have such a weak position with respect to governance that they have little influence upon goal structures as well. It is observed that directors rarely function in the idealized trusteeship capacity. Efforts by government to make corporations more "responsible" may involve nothing more than attempts to strengthen the public sector at the expense of the corporate and, hence, may not be in the interest of shareholders at all.
With corporations subject to increased regulation and government controls, two questions emerge: First, who should control corporate diction making (The corporate governance question.) Second, what is the appropriate role of corporations in our society. (The corporate responsibility question.) Corporate governance refers to shareholders. Corporate responsibility refers to alleged responsibility of the corporation to something called the social needs of the community1
In: Journal of accounting and public policy, Band 1, Heft 1, S. 5-17
ISSN: 0278-4254
In: Journal of accounting and public policy, Band 1, S. 5-17
ISSN: 0278-4254
In: 37 University of Miami Law Review 295 (1983)
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In: Regulation: the Cato review of business and government, Band 4, S. 20-31
ISSN: 0147-0590
In: 56 Notre Dame Lawyer 903 (1981)
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In: Federal Governance, Band 6, Heft 1
ISSN: 1923-6158
Governance has become the new buzz word in both economic and political science, particularly in terms of what governance means for the international arena. However, it is also a term that is confusing to many. What does it mean to speak about "governance"? Does it refer to the coordination of sectors of the economy, corporate governance, policy networks, "good governance" as a reform objective promoted by the IMF and the World Bank, public management, or public-private partnerships?
In: Człowiek i Społeczeństwo, Band 38, S. 133-145
ISSN: 0239-3271
The aim of this article is to approach the roots of the corporate culture in the light of New Institutional Economics. The basis of analysis is the concept of four levels of the institutions by O.E. Williamson. The corporate governance is embedded in tradition (level 1) and in formal institutions (level 2). In European civilization tradition means especially – religion, so the American and European corporations culture is connected with religious Christian values. In the first part of the article the traditional, religion embeddedness of economic culture (level 1) is discussed. In the second part of the article two institutional theories of corporate governance (level 3) are discussed: agency theory and transactions costs theory. The connection between level 3 and level 1 as the roots of corporate governance is the transactions cost theory. In the summary the integration between corporate governance and corporate social responsibility is shown.
In: Schriften zum öffentlichen Recht Band 206
In: Social science history: the official journal of the Social Science History Association, Band 7, Heft 2, S. 205-216
ISSN: 1527-8034
Numerous network studies demonstrate that interlocking directors unite corporations in the United States into a tight-knit corporate community (e.g., Sonquist and Koenig, 1975; Mariolis, 1975; Mizruchi, 1982). In addition, nonnetwork studies of foundations, universities, and other nonprofit organizations suggest that corporate officers and directors play a large role in the governance of such institutions (e.g., Hartnett, 1969; Dye, 1976; Useem et al., 1976; Salzman and Domhoff, 1980; Useem, 1981). However, there are no studies that cast light on the structural position of nonprofit institutions in relation to the well-established corporate network.
In: 64 Cornell Law Review 901 (1979)
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