History Of Corporate Governance Research Articles

Corporate governance paradigms of hazardous industries: Enduring challenges of Britain’s civil nuclear industry

This article discusses risk management processes in Britain’s civil nuclear industry from a corporate governance perspective. As an example of a hazardous industry that can inflict catastrophic environmental damage and fatalities, effective governance of Britain’s nuclear industry is a critical issue. Yet the industry’s history of corporate governance suggests that processes of corporate governance have regularly failed to meet core requirements of its stakeholders. A core requirement is for governance designs that recognize the interests of public owner–stakeholders. In meeting this requirement, the article offers a framework for a relationship-driven form of corporate governance that enables meaningful stakeholder engagement in decision-making.

History of Corporate Governance

The role of the manager in maximization of shareholder profitability has led several corporations to fail. To counter such corporate failures, corporate governance mechanisms have been incorporated that realign the diverse interests of the corporate managers by assigning independent non-executive directors. Corporate governance has grown significant in importance since the global financial crisis that led many economies into recession and turmoil.

Managerial Decision-Making in International Business: Corporate GovernanceeIssues in Emerging Markets

According to Wells (2010), corporate governance has been around since corporates have been formed, at least as long as the corporate system has allowed for conflicts between investors and managers. Also, there is no conclusive historical conduct of corporate governance, and there may never be one, given the enormity of the topic (Cheffins, 2012). However, the history of corporate governance goes back to the 16th and 17th century with the formation of the East India Company, the Hudson Bay, and the Levant Company as well as others chartered entities (Cheffins, 2012). Moreover, corporate governance encompasses a country’s private and public organisations, both formal and informal, which together govern the relationship between the people who manage corporations, and all others who invest resources in corporations in the country (Oman, Fries & Buiter, 2003). Also not to be ignored is in understanding the purpose of corporate governance. According to Oman et al. (2003), the purpose of corporate governance is divided into three elements, and applicable to all countries such as 1) enable and encourage the enactment of corporations by creating and sustaining incentives that motivate corporate insiders to maximise operational efficiency, return on assets and long-term productivity growth; 2) eliminate insider’s abuse of power over corporate resources such as asset stripping or otherwise siphoning off corporate resources for private use (self-serving behaviour); and 3) developing monitoring measures for manager’s behaviour to ensure corporate accountability as well as developing reasonably cost-effective protection measures of investor’s and society’s interests vis-a-vis corporate insiders.

Corporate governance reforms in emerging countries: A case study of Bangladesh

This article considers three related research questions, all in the context of an emerging economy, Bangladesh: What is the history of corporate governance (CG) reform in Bangladesh? What explains the introduction of CG guidelines in Bangladesh? and How have the country-level initiatives to improve CG influenced the firm-level practices of CG? By analysing the agency environment and CG reforms in Bangladesh, this article finds that, in spite of the number of reform initiatives undertaken since the early 1990s, there is substantial scope for further improvement, particularly in monitoring and enforcement by regulators, both external bodies, particularly the International Financial Agencies, and domestic forces have both affected the extent of CG reform in Bangladesh; and CG regulations take effect over time as companies gradually update their CG practices to comply with the national guidelines. The introduction of annual awards by the professional institutions also seems to have motivated companies to improve their governance practices.

The History of Corporate Governance

“Corporate governance” first came into vogue in the 1970s in the United States. Within 25 years corporate governance had become the subject of debate worldwide by academics, regulators, executives and investors. This paper traces developments occurring between the mid-1970s and the end of the 1990s, by which point “corporate governance” was well-entrenched as academic and regulatory shorthand. The paper concludes by surveying briefly recent developments and by maintaining that analysis of the inter-relationship between directors, executives and shareholders of publicly traded companies is likely to be conducted through the conceptual prism of corporate governance for the foreseeable future.

Corporate Governance Reforms in Emerging Countries: A Case Study of Bangladesh

This paper considers three related research questions, all in the context of an emerging economy, Bangladesh: What is the history of Corporate Governance (CG) reform in Bangladesh? What explains the introduction of CG guidelines in Bangladesh? and How have the country-level initiatives to improve CG influenced the firm-level practices of CG? By analysing the agency environment and CG reforms in Bangladesh, this paper finds that, in spite of the number of reform initiatives undertaken since the early 1990’s, there is substantial scope for further improvement, particularly in monitoring and enforcement by regulators, both external bodies, particularly the International Financial Agencies (IFAs), and domestic forces have both affected the extent of CG reform in Bangladesh; and CG regulations take effect over time as companies are gradually update their CG practices to comply with the national guidelines. The introduction of annual awards by the professional institutions also seems to have motivated companies to improve their governance practices.

A history of corporate governance around the world: Family business groups to professional managers, RK Morck (ed.) (2007), A National Bureau of Economic Research Conference report, The University of Chicago Press, Chicago; ISBN-10: 0-226-53680-7; PB; 687 pages + xi-xii; AUD 91.00 / USD 60.00 / GBP 41.74.

A history of corporate governance around the world: Family business groups to professional managers, RK Morck (ed.) (2007), A National Bureau of Economic Research Conference report, The University of Chicago Press, Chicago; ISBN-10: 0-226-53680-7; PB; 687 pages + xi-xii; AUD 91.00 / USD 60.00 / GBP 41.74. - Volume 15 Issue 3

Editorial

The first article in this issue traces the history of corporate governance in Nigeria. The article Nurturing Corporate Governance System: The Emerging Trends in Nigeria was written by Benjamin James Inyang from the University of Calabar in Nigeria and begins by noting the paucity of literature on this subject. The article describes how mainstream issues of corporate governance in Nigeria emerged with the enactment of the Companies and Allied Matters Act of 1990 that established the Corporate Affairs Commission, charging it with the responsibility of overseeing the regulation and supervision of the formation, incorporation, registration, management and winding up of companies. The article goes on to point our challenges that still need to be addressed.

Corporate governance in India: Moving gradually from a regulatory model to a market-driven model — A survey

The economic crises of 1991 forced India to reassess its protectionist, closed economy system. Globalisation was the imminent choice. The opening up and integration of the Indian economy with the rest of the world brought a dramatic change in its business environment and governance standards. The Indian stock markets matured and we have witnessed a tremendous interest among international investors in entering this emerging market. This paper traces the history of corporate governance in India and discusses key unresolved issues against the backdrop of sweeping reforms in the stock market structure, systems and regulation.

A New Wave in the History of Corporate Governance

A New Wave in the History of Corporate Governance

A history of corporate governance around the world: family business groups to professional managers – Edited by Randall K. Morck

The Economic History ReviewVolume 59, Issue 4 p. 880-881 A history of corporate governance around the world: family business groups to professional managers – Edited by Randall K. Morck Sue Bowden, Sue Bowden University of YorkSearch for more papers by this author Sue Bowden, Sue Bowden University of YorkSearch for more papers by this author First published: 06 October 2006 https://doi.org/10.1111/j.1468-0289.2006.00369_29.xCitations: 1Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Citing Literature Volume59, Issue4November 2006Pages 880-881 RelatedInformation

A history of corporate governance around the world: family business groups to professional managers

For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries - including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

Corporate Governance and Innovation - Venture Capital, Joint Ventures, and Family Businesses

Most of the literature on corporate governance focuses on listed companies. However, the majority of firms worldwide are non-listed. Given the importance of these firms for innovation and job creation, the absence of a robust debate on the best governance practices for these firms is perplexing. Corporate governance for non-listed companies, such as joint-ventures or venture-capital-backed start-ups and spin-offs, is concerned with ensuring that firms are run efficiently and protect the interests of business parties and investors. The article recounts the history of corporate governance from the development of the joint venture business form to the recent initiatives that help to foster the legal infrastructure to keep a modern economy in gear. We argue that the corporate governance debate for non-listed companies will proceed along three dimensions: (1) legal and institutional structures, (2) contractual arrangements, and (3) optional, best practice guidelines.

Russia's Evolving Corporate Governance in the Cultural Context

The paper explores evolution and current state of the Russian corporate governance in cultural context. Russia has a relatively short history of corporate governance, and securities market and stock capital play a less significant role, compared to the West. The evolution of culture and corporate governance is analyzed in a comparative setting. Under the Soviet framework, business and corporate developments were non-existent or severely restricted. The post-Soviet capitalism is characterized by dynamic and turbulent developments in corporate governance and business culture. The paper examines the Russian findings from the recent international studies of culture and explores cultural impact on corporate governance in the country.

Robert E. Wright, Wray Barber, Matthew Crafton and Anand Jain (eds.), History of Corporate Governance: the Importance of Stakeholder Activism, 6 volumes (London: Pickering & Chatto, 2004. xxi + 2415 pp. £595).

<i>Robert E. Wright, Wray Barber, Matthew Crafton and Anand Jain (eds.)</i>, <b>History of Corporate Governance: the Importance of Stakeholder Activism</b>, 6 volumes (London: Pickering &amp; Chatto, 2004. xxi + 2415 pp. £595).

Corporate Governance, Risk, and Inequality in Japan and the United States

These days, Americans seem to take their corporate governance model for granted. Shareholder interests are what matter. But this essay traces the history of corporate governance to show that such models change over time. And they are different in other nations, such as Japan. I argue that American-style corporate governance has resulted in wage inequality, risk shifting, and poor management. And financial reforms, despite the recent major scandals, have not gone far enough.

Introductory Remarks: Europe, America, and the History of Corporate Governance

Cette introduction regroupe trois thèmes. Le premier cherche à montrer que l’analyse historique pourrait jouer un plus grand rôle pour la compréhension des théories de gestion. Une explication est alors recherchée pour comprendre la faiblesse des relations qui unit ces thèmes. Le second point explique l’importance du gouvernement d’entreprise pour les chercheurs en gestion et montre comment l’histoire peut apporter un regard nouveau sur un sujet devenu si important en Europe. Enfin, l’article analyse les principales différences existant entre les modèles de corporate governance européens et américains. Ces différences semblent essentiellement provenir d’attitudes historiquement différentes vis-à-vis du marché et du capitalisme.