De Gruyter Studies in Corporate Governance – serie

This book represents a response to a relative lack of academic research into corporate governance and especially corporate governance disclosure in the Middle East and North Africa (MENA). Specifically, the author explores recent developments in corporate governance disclosure produced by Libyan commercial banks. Along with other corporate governance mechanisms, disclosure plays an essential role in discharging accountability to and protecting shareholders, enhancing corporate performance and reducing the risk of financial crises. In order to improve corporate governance disclosure, it is necessary to understand the context in which it takes place. The MENA countries have unique characteristics, and those involved in the Arab Spring have been affected in different ways. This book provides up to date research into corporate governance disclosure in the context of Libya following the Arab Spring. The banking sector plays a crucial role in the Libyan economy and has specific characteristics which make corporate governance more important than in other sectors, yet research in this sector is rare. Furthermore, the banking sector in Libya has seen significant corporate governance reforms in recent years. As one of the most significant oil producing countries, Libya’s political and business environments have been dramatically affected by the Arab Spring. The author discusses how banks have responded to these reforms and the ways in which their corporate governance disclosure has evolved.

This book provides an examination of corporate governance in South Africa which includes an overview of the history of corporate governance and summary of the key provisions of South Africa’s codes on corporate governance from 1994 to 2016. The aim is to provide a comprehensive reference for academics and practitioners interested in South African corporate governance and to illustrate how corporate governance practices evolve in a developing African economy. It also includes a review of the research dealing with the drivers and consequences of South African corporate governance. The focus is on South African-specific research which is complemented with international references. This book will be highly relevant to both accounting/governance academics and the broader practitioner community.

This book explores discussions and practice around corporate governance in Russia from the early 1990s until 2018. 　It covers three major aspects of corporate governance theory and practice: a vision of corporate governance in Russia in the context of global trends and challenges, the general perception of corporate governance in Russia, and the real nature of Russia’s corporate community from the viewpoint of its corporate governance practices. It provides a unique complex analysis and detailed description of how corporate governance has been perceived by both Russian regulators and the business community, and how it has been applied in Russian companies. This analysis covers the period of over 25 years: from early attempts at directing transfer and implanting the Western model of corporate governance to the nascent Russian big private business, up to the period of resurgence of the state as the dominant player both in Russian society and its economy at large. It gives an understanding of what corporate governance is in Russia in the days of "sovereign democracy" and confrontation with the West. It explains how cultural, political, economic and institutional factors have shaped corporate governance in Russia. The authors provide insights into such aspects of Russian corporate governance framework and practices as regulatory philosophy and enforcement, ownership structure, the role of the state, the impact of unfriendly domestic business climate, how the value of corporate governance is perceived in Russian context, etc. Predominantly, the book paints an interesting picture of how the "sovereign corporate governance" model has been shaped in Russia. This book will be useful not just for experts in corporate governance and investors, but also for those who have an interest in modern Russia at large.

This book addresses the relationship between corporate governance (CG) and corporate social responsibility (CSR) and does so in the context of extractive industries in Africa. Arguments are made as to what constitutes CG and CSR and whether or not one is a subset of the other. A series of case studies regarding governance, accountability, transparency and sustainability issues within the extractive sector are discussed. It proposes a model of good corporate governance for Africa’s extractive sector. CG and CSR have remained hotly debated subjects since their emergence. Evidence from these debates points to no apparent end in sight in the ongoing sustainability agenda. This book aims to augment the debate by filling existing gaps in research such as illuminating CG and CSR practices within the African context. The book seeks to analyse case studies to assess engagements between stakeholders and multinational extractive sector firms in the context of appreciating accountability and transparency. It is difficult to deny that there has been a modest surge in the field of mainstream social and environmental accounting in the last three decades or so, and it is still considered a growing domain within accounting research. Social and environmental accounting is seen here as a vehicle to reveal intertwined corporate and social events aimed at liberating and guiding society towards a just, accountable, transparent and sustainable pathway. This book applies Habermas’ theory of communicative action and postcolonial theory in the critical examination of the practice of CG and CSR. Through qualitative content analysis of corporate annual/integrated reports of multinational extractive sector with operations in Africa and analysis of interviews with stakeholders of the extractive sector industry, the research reveals colonised features of the industry by multinational firms and in extreme cases racial issues. These issues represent obstacles to the attainment of accountability and transparency between firms and their stakeholders. The book proposes a corporate accountability framework reminiscent of indigenous local and international best practices towards a more stakeholder-centric model of multinational corporate accountability and transparency in the ‘Third World’. Case studies on Africa’s extractive sector will be interspersed throughout the text including: mining in Ghana, South Africa, Zambia; and oil and gas in Angola, Equatorial Guinea, Ghana and Nigeria.

Corporate Governance in a Nordic Setting focuses on the historical, cultural and political development of the Swedish corporate governance code and model. It explores the definition and interpretations of corporate governance, including the Cadbury Report and OECD definitions, and specifically discusses powerful institutions that shaped its tradition over time. It further outlines the distinguishing features of the Nordic and Swedish corporate governance models, including taxation, ownership structures, corporate culture, and leadership styles. Emphasis is placed on the role of corporate governance in achieving a sustainable society, arguing for the importance of integrating financial, social and environmental perspectives at the corporate governance level. The chapters discuss a broad spectrum of topics including corporate ownership structures, agency conflicts, board diversity, employee representation on corporate boards, sustainability governance, and corporate governance in times of crisis, providing insights into Nordic and Swedish corporate governance and highlighting their unique characteristics and implications for businesses and society.

This monograph contains an evaluation of the research dealing with the drivers and significance of corporate board diversity and corporate governance focused on Saudi Arabia. It specifically shows how to increase board diversity in a different culture and social setting. This is achieved by presenting more than two thousand items of secondary data and comparing these to data from 2020 to show the social change from the old to new diversity logics amidst the more general social change, with comparative analysis of global trends. The book will provide a clear picture of boardroom diversity in Saudi Arabia. This will contribute to knowledge through understanding board diversity and exploring whether there have been changes in the boardroom due to social structure shifts, and the extent of resistance. It will benefit both accounting and governance academics as well as the broader practitioner community. Furthermore, it will be important for those looking at social change and the role of the Saudi national plan Vision 2030 which provides a strategic framework to reduce the country’s dependence on oil, diversify its economy and develop its public sector. The first book to investigate boardroom diversity in Saudi Arabia Captures the change of Saudis boardroom in six demographic types of diversity Looks into the impact of social settings in Saudi culture by highlighting the Vision of 2030 Provides a comprehensive review of Saudi Arabia’s most recent corporate governance codes

Corporate Governance Failures in Emerging Economies – Evidence from Pakistan provides detailed insights regarding corporate governance practices, legal and regulatory frameworks, drivers of corporate governance codes, levels of compliance and various corporate governance mechanisms in an emerging market context. The material outlines and discusses potential challenges to corporate governance development in these settings, emphasizing the wide array of formal and informal institutional factors that have both permitted and fostered corporate governance failures and scandals in Pakistan. This book will be of interest to anyone who is concerned with exploring issues relating to corporate governance outcomes in emerging market contexts and the relevance of institutional theory in offering explanations for the observed behaviour.

This book will include a review of the research dealing with the drivers and consequences of Namibia’s corporate governance. The focus will be on Namibian-specific research but this will probably be complemented with international references.

Japan has long been regarded as an exemplar of a stakeholder model of corporate governance, where the interests of employees, customers, suppliers, and the wider community, in addition to shareholders, are taken into account in decision-making. However, Japan's traditional stakeholder-focused corporate governance model is facing new pressures as the economy has undergone changes, including increasing foreign share ownership, calls for more transparency and a shift towards UK and US-style corporate governance. This book provides an in-depth analysis of Japan's changes and challenges in balancing the interests of shareholders and stakeholders in corporate governance. The first section of the book provides a comprehensive overview of the history of corporate governance in Japan and its evolution. It includes information on the key regulatory and legal frameworks, including the Companies Act and the Financial Instruments and Exchange Law. The second section delves into the implementation of the Abenomics corporate governance reforms and their impact on Japan's corporate landscape. It also includes information on the codes of Stewardship (2014) and Corporate Governance (2015). The final part provides an in-depth analysis of the challenges faced by Japanese companies in terms of corporate governance and the prospects of further corporate governance reforms in Japan. It discusses the convergence trend of Japan’s traditional bank-based, stakeholder-orientated corporate governance model and a shareholder value-driven corporate governance system in the UK and the US. This book is aimed at executives, policymakers, business leaders, academics, and anyone interested in the future of business and corporate governance. It will be of particular interest to those interested in learning about the unique approach to stakeholder capitalism and corporate governance that has been developed in Japan and how this approach is shaping the future of business worldwide.