"Die Bedeutung, die Enron für das Thema Corporate Governance einnimmt, ist mit der zu vergleichen, die AIDS für die Erforschung des Immunsystems hatte. Die Reflexion und die spätere Reform der Governance, so wird gezeigt, ist jedoch insbesondere von denjenigen angestoßen worden, die am Erfolg des modernen Kapitalismus beteiligt waren. Dieser Beitrag zeigt Kritikern des Kapitalismus verschiedene Aufgaben der Corporate Governance auf und macht dabei besonders deutlich, dass überzogene ethische Anforderungen an Unternehmen und das Verständnis einer Gleichbehandlung von Stakeholdern verfehlt sind. Es wird argumentiert, dass Vertreter des Stakeholder-Ansatzes die Governance-Beziehung zwischen Aktionären und Senior-Managern vernachlässigen und dass gerade eine stärkere Fokussierung auf dieses Prinzipal-Agenten-Verhältnis im Interesse aller Stakeholder liegen kann." (Autorenreferat)
"This book provides a unique analysis of the complex relationship between governance and the global commons. It has a specific reference to the dynamic and growing outer space economy and society, and how experience in the maritime sector (which exhibits many of the same issues and challenges as outer space) can be useful in suggesting moves forward in policy-making and design. This book fills a large gap in the literature of both governance and the development of outer space. Whilst the maritime sector has a long history of debate, albeit little in terms of governance and policy-making, outer space has much less and what there has been, commonly focused upon technical considerations. The importance of this book is that the failures of maritime governance need to be avoided in the outer space sector which exhibits many of the same issues particularly those related to the global commons. Innovative and exciting, this book will be of interest to academics studying corporate governance, business management, and space capitalism." --
"The present paper discusses the effects of dispersed versus concentrated capital ownership on investment into innovative activity. While the market for equity capital might exert insufficient control on top managements' behavior, this weakness may be mitigated by a suitable degree of debt financing. We report the results of an empirical study on the determinants of innovative activity measured by patent applications. Using a large sample of German manufacturing firms, we find that companies with widely held capital stock are more active in innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more disciplined the managers behave." [author's abstract]
"Positioning of an advertising and television designer. Unleashed by ecological and social destruction, a vague sense of shame is spreading amongst the players of business life. This shame can become a performance driver for a new rationality of responsibility – for intervention in our overheated system. Goverments' discourse becomes the ideal business relationship amongst all economic subjects." (author's abstract)
The issue of governance is not frozen in time. It remains current. The legislature of OHADA, was inspired by the debate born in Anglo-Saxon countries where a thorough reflection of the principles of corporate governance has developed with different approaches and sometimes even contradictory. This has thus led to lay down a number of rules governing commercial companies, the rules contained in the Revised Uniform Act relating to Commercial Companies and Economic Interest Group, effective May 5, 2014. even if the revised uniform Act does not specifically about corporate governance, it does not affect fewer mechanisms and rules. Thus, the objective of these rules is still well the establishment of an appropriate legal framework, conducive to development, investment and economic attractiveness of the area of OHADA. Otherwise considered in this light, the objectives of the OHADA founding fathers were they achieved?Given multiple issues, even as commercial companies hardly escape the globalization of trade, this study, which is a contribution to the debate on improving the state of economic law, the legal and judicial security economic activities, will try to clarify the question of the effectiveness and efficiency of the regulatory system of governance of corporations. Thus, this work is to contribute to the reflection of a uniform regulatory governance rules of commercial companies in the area of OHADA. In short, address the issue of governance of commercial companies in OHADA law is clear, finally, in this study, the issue of adaptability of the rules of this governance in the economic and social context of commercial companies OHADA space.From the analysis of the revised Uniform Act relating to commercial companies, the study deals in the first part, the question of whether the rules of governance of corporations. And, in a second part, I analyze the necessary changes in governance rules commercial companies. ; La question de la gouvernance n'est pas figée dans le temps. Elle demeure d'actualité. Aussi, le ...
The dominant view in company law (especially; corporate governance and finance law) is that the regulation of company takeovers (takeovers) and-/ or mergers must carefully balance two opposing notions. On one hand, the regime must be designed to enable or facilitate the initiation and successful implementation of takeovers and mergers in the interests of inter alia economic growth and technological advancement. On the other hand, such a regulatory framework ought to be sensitive to stakeholders' interests. Various policy rationales are put forward in supporting the incidence of takeover transactions. These motivations include the need for companies to access business synergy, diversification, competitiveness, technological advancement, and broader economic development. However, takeovers may have negative implications for stakeholders. For feasibility sake, this study's focus is limited to three stakeholder groups, namely, the target company shareholders, the target company directors, and the local communities. For the target shareholders, the takeover-related mischiefs include the possibility that the target directors may be tainted by conflicts of interest in the context of an offer, thereby making recommendations that disadvantage the shareholders. Or the possibility that the minority shareholders may be treated unfairly and unequally by the acquiring company through making a subsequent offer that is inferior to the one received by the majority holders of securities of the same class. For the board of directors, there are twin negative effects that the directors may face. On the one hand, is litigation from disgruntled stakeholders during and after takeovers and, on the other hand, is the possibility that directors often lose their offices and jobs after successful takeovers. This study also examines the possible exposure of local communities to the negative repercussions of takeovers, and these include loss of employment by locals, loss of beneficial community development, loss of community development monies due to losses in corporate taxes, loss of corporate social responsibility benefits where the merged company decides to relocate. Still, the introduction of a new company into a community after a takeover may negatively impact the environment, public health as well as expose the community to severe national security threats especially where the takeovers involve personal data storage, the internet and technology. Against the backdrop of the conceivable benefits and adverse effects surrounding takeovers this study introduces a 'novel' complementary regulatory perspective, as a yardstick for undertaking a comparative evaluation of the existing takeover regulation regimes of the United States of America (US) especially the state of Delaware, the United Kingdom (UK) and South Africa to answer this study's main research question. The primary question sought to be answered is: To what extent are the provisions of the South African takeover regulation framework appropriate and adequate in protecting the stakeholders' interests? The said complementary regulatory perspective has twin-legs designed to carefully balance two opposing philosophies: that is, on one hand, vigilant optimisation of takeover activity and on the other hand, ensuring the appropriate and adequate protection of stakeholders' interests by pursuing stakeholder inclusivity through the concept of subordination. Notably, there are several protections under the US, the UK and South African takeover regulation regimes that are available and accessible to the three stakeholder groups identified, discussed and evaluated in this study. And through the evaluations, the related merits and weaknesses of such protections were established. Then, ultimately, several suggestions for law reform are recommended in accordance with the ethos of the complementary regulatory perspective as deliberated. ; Thesis (PhD) (Law)-- University of Fort Hare, 2021
"The Politics of Global Supply Chains analyses the changing politics of power and distribution within contemporary global supply chains. Drawing on over 300 interviews with farmers, workers, activists, businesses and government officials in garment and coffee sector supply chains, the book shows how the increased involvement of non-state actors in supply chain governance is re-shaping established patterns of global political power, responsibility and accountability. These emerging supply chain governance systems are shown to be multi-layered and politically contested, as transnational governance schemes interact with traditional state governance arrangements in both complementary and conflicting ways. The book's analysis of changes to the relationship between state and non-state actors within transnational governance processes will be of particular interest to scholars and students of globalisation, global governance and regulation. The Politics of Global Supply Chains also suggests some practical ways by which the effectiveness and accountability of supply chain governance could be strengthened, which will interest both scholars and practitioners in fields of global business regulation and corporate social responsibility. Conclusions are relevant to the business and civil society actors who participate directly in non-state governance schemes, and to state regulators whose distinctive governance capacities could play a much greater role than at present in supporting transnational, non-state governance processes."--EBSCO
Various theories and empirical studies have been applied and proposed to establish and explain how corporate governance practices are related to banks financial performance. This study concerns the relationship between corporate governance variables and bank performance in Malaysia. The data collected and analysed in this research is from quarter one year 2011 to quarter four year 2016. Various determinants have been identified namely return on equity(ROE) for bank performance measurement, CEO duality, board size, and board gender for corporate governance. Control variables are bank size and bank leverage. The methodologies adopted in this research includes descriptive analysis, correlation analysis, Pooled Ordinary Least Square (OLS) regression, Diagnostic Tests (Jarque-Bera Normality Test, Wooldridge Test and Variance Inflation Factor), Breusch-Pagan (BP) Lagrange Multiplier test, and Hausman test. In this study, the findings indicate that strong board composition and bank leverage were experience better performance.
AbstractThe literature on Chinese economic engagement with Africa reflects widely-held views that Chinese investment is strategic, politically motivated and therefore more stable and long-term than "Western" foreign capital. In contrast this article argues that various factors underpinning the governance of Chinese state-owned enterprises (SOEs) in fact serve to promote short-term strategies. It contributes to the literature by empirically exploring this proposition through a case study of a Chinese SOE operating in Zambia's mining sector, and by examining two sets of corporate governance characteristics of Chinese SOEs: investors' relationships with the Chinese state, and firm-level strategy, structure and norms. The article finds that these governance characteristics lead to short-term strategies, including excessive cost-cutting and segregated management practices. These short-term strategies reduce the incentives as well as ability of investors to address local environmental and social concerns, thus questioning the contribution of Chinese investment to Africa's long-term development.