Elements in Corporate Governance – serie

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21 produkter

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21 produkter

The Role of the Board in Corporate Purpose and Strategy
AvRobert Bood,Hans van Eesm. fl.
Häftad, Engelska, 2022
245 kr
Skickas inom 10-15 vardagar
This Element is an attempt to contribute to the extant literature on boards and corporate governance by exploring in detail the active involvement of the board in the purpose and strategy of the corporation in order to cope with a complex and uncertain environment.
Investing in Innovation
Confronting Predatory Value Extraction in the U.S. Corporation
AvWilliam Lazonick
Häftad, Engelska, 2023
245 kr
Skickas inom 10-15 vardagar
Business corporations interact with household units and government agencies to make investments in productive capabilities required to generate innovative goods and services. When they work harmoniously, these three types of organizations constitute 'the investment triad'. The Biden administration's Build Back Better agenda to restore sustainable prosperity in the United States has focused on investment in productive capabilities by government agencies and household units. Largely absent from the Biden agenda have been policy initiatives to ensure that, given government and household investment in productive capabilities, the governance of major U.S. business corporations supports investment in innovation. This Element explains how corporate financialization, manifested by predatory value extraction in the name of 'maximizing shareholder value', undermines investment in innovation in the United States. It concludes by outlining a policy framework, beginning with a ban on stock buybacks, that confronts predatory value extraction and puts in place social institutions that support sustainable prosperity.
The Rhetoric and Reality of Shareholder Democracy and Hedge-Fund Activism
AvJan-Sup Shin
Inbunden, Engelska, 2025
705 kr
Skickas inom 10-15 vardagar
This Element investigates the historical and systemic roots of hedge-fund activism. It argues that the spirit of the New Deal financial regulations was subverted in the 1980s and 1990s in the name of shareholder democracy and opened the door for the rise of hedge-fund activism. It analyzes the effects of regulatory reforms including the introduction of compulsory voting by institutional investors, proxy-voting rule changes that greatly facilitated aggregation of the proxy votes of institutional investors, and rules that allow hedge funds to draw effectively limitless alternative investments from institutional investors. This Element also evaluates the recent empirical research on hedge-fund activism and explains why shareholder activism has gone awry. It argues that the regulatory changes created a large vacuum in the arena of corporate voting that hedge-fund activists can effectively exploit for their own profits. It concludes with policy proposals for rebuilding the proxy-voting and engagement system.
The Rhetoric and Reality of Shareholder Democracy and Hedge-Fund Activism
AvJan-Sup Shin
Häftad, Engelska, 2025
219 kr
Skickas inom 10-15 vardagar
This Element investigates the historical and systemic roots of hedge-fund activism. It argues that the spirit of the New Deal financial regulations was subverted in the 1980s and 1990s in the name of shareholder democracy and opened the door for the rise of hedge-fund activism. It analyzes the effects of regulatory reforms including the introduction of compulsory voting by institutional investors, proxy-voting rule changes that greatly facilitated aggregation of the proxy votes of institutional investors, and rules that allow hedge funds to draw effectively limitless alternative investments from institutional investors. This Element also evaluates the recent empirical research on hedge-fund activism and explains why shareholder activism has gone awry. It argues that the regulatory changes created a large vacuum in the arena of corporate voting that hedge-fund activists can effectively exploit for their own profits. It concludes with policy proposals for rebuilding the proxy-voting and engagement system.
Incorporating Purpose
The New Legal Foundations for the Corporation and its Management
AvBlanche Segrestin,Kevin Levillainm. fl.
Inbunden, Engelska, 2025
707 kr
Skickas inom 10-15 vardagar
In this Element, emerging legal forms of purpose-driven corporations are analyzed, revealing two important insights. First, within the traditional corporate law, a purpose is neither protected nor enforceable over time. While companies can have goals beyond profit, these are controlled by shareholders, who also appoint corporate managers. To protect social or environmental ambitions, especially during shareholder changes, a legal commitment from the company is essential. Second, these new legal forms highlight the need to redefine the corporation's legal foundations. In an era when management decisions impact entire populations and the planet, the law inadequately conceptualizes the conditions necessary for responsible management. The Element argues that embedding a purpose in the constitution of corporations can provide these new legal foundations. Ultimately, the Element suggests that purpose provides a unified theoretical framework for understanding the variety of corporate legal forms and for discussing their respective potentials and limitations in holding corporations accountable in the face of upcoming transitions.
Incorporating Purpose
The New Legal Foundations for the Corporation and its Management
AvBlanche Segrestin,Kevin Levillainm. fl.
Häftad, Engelska, 2025
219 kr
Skickas inom 10-15 vardagar
In this Element, emerging legal forms of purpose-driven corporations are analyzed, revealing two important insights. First, within the traditional corporate law, a purpose is neither protected nor enforceable over time. While companies can have goals beyond profit, these are controlled by shareholders, who also appoint corporate managers. To protect social or environmental ambitions, especially during shareholder changes, a legal commitment from the company is essential. Second, these new legal forms highlight the need to redefine the corporation's legal foundations. In an era when management decisions impact entire populations and the planet, the law inadequately conceptualizes the conditions necessary for responsible management. The Element argues that embedding a purpose in the constitution of corporations can provide these new legal foundations. Ultimately, the Element suggests that purpose provides a unified theoretical framework for understanding the variety of corporate legal forms and for discussing their respective potentials and limitations in holding corporations accountable in the face of upcoming transitions.
Innovation versus Financialization in the US Pharmaceutical Industry
AvÖner Tulum,William Lazonick
Häftad, Engelska, 2025
219 kr
Skickas inom 10-15 vardagar
Mandated by the Inflation Reduction Act of 2022, the US government is negotiating with pharmaceutical companies over the 'maximum fair price' of ten drugs widely used by Medicare patients. The pharmaceutical companies contend that a 'fair' price is a 'value-based price' that enables their shareholders to capture the value the drug creates for society and warn that lowering drug prices will reduce investments in new drugs. This Element responds to these arguments by showing that pharmaceutical companies (a) should have their drug prices regulated, given scale economies in supplying drugs and price inelasticity of drug demand; (b) use their profits from unregulated drug prices to distribute cash dividends and stock buybacks to shareholders; (c) do not typically rely upon investment by shareholders to fund drug innovation; and (d) benefit from 'collective and cumulative learning' in foundational and translational research that is antecedent and external to their investments in clinical research.
Innovation versus Financialization in the US Pharmaceutical Industry
AvÖner Tulum,William Lazonick
Inbunden, Engelska, 2025
705 kr
Skickas inom 10-15 vardagar
Mandated by the Inflation Reduction Act of 2022, the US government is negotiating with pharmaceutical companies over the 'maximum fair price' of ten drugs widely used by Medicare patients. The pharmaceutical companies contend that a 'fair' price is a 'value-based price' that enables their shareholders to capture the value the drug creates for society and warn that lowering drug prices will reduce investments in new drugs. This Element responds to these arguments by showing that pharmaceutical companies (a) should have their drug prices regulated, given scale economies in supplying drugs and price inelasticity of drug demand; (b) use their profits from unregulated drug prices to distribute cash dividends and stock buybacks to shareholders; (c) do not typically rely upon investment by shareholders to fund drug innovation; and (d) benefit from 'collective and cumulative learning' in foundational and translational research that is antecedent and external to their investments in clinical research.
Regulating EU Sustainability Reporting
Learning from Failure and Success
AvDavid Monciardini
Häftad, Engelska, 2025
238 kr
Skickas inom 10-15 vardagar
Deterioration of socio-ecological systems requires deep changes in business regulation, including accounting rules. However, policymakers and stakeholders have recursively failed to deliver on mandatory sustainability reporting. Over the last decade, things have rapidly changed. Particularly in the EU, we are witnessing the standardisation and harmonisation of sustainability reporting. This Element questions what explains changes in sustainability reporting regulation and what one can learn from the past. It suggests that there is a structural fallacy in the design of the regulation of accounting for sustainability, which needs to be addressed to avoid another failure. The Element concludes by setting out a bold blueprint for rethinking reporting regulation based on a series of paradigmatic changes.
Regulating EU Sustainability Reporting
Learning from Failure and Success
AvDavid Monciardini
Inbunden, Engelska, 2025
766 kr
Skickas inom 10-15 vardagar
Deterioration of socio-ecological systems requires deep changes in business regulation, including accounting rules. However, policymakers and stakeholders have recursively failed to deliver on mandatory sustainability reporting. Over the last decade, things have rapidly changed. Particularly in the EU, we are witnessing the standardisation and harmonisation of sustainability reporting. This Element questions what explains changes in sustainability reporting regulation and what one can learn from the past. It suggests that there is a structural fallacy in the design of the regulation of accounting for sustainability, which needs to be addressed to avoid another failure. The Element concludes by setting out a bold blueprint for rethinking reporting regulation based on a series of paradigmatic changes.
Nyhet
Value Creation and the Role of Firms in Society
AvConstantijn van Aartsen
Inbunden, Engelska, 2026
901 kr
Skickas
It is widely agreed by proponents of shareholder and stakeholder capitalism that firms are needed to create long-term value. While they debate whose interests this value creation should serve and how it should be measured, they rarely question the concept of value itself or whether firms should have this social role. This consensus is striking since the meaning of value is often unexplored and inadequately defined. This Element addresses that gap and challenges this consensus. It explores the nature and meaning of value, examines how value creation became the social role of firms, and asks whether firms should have this social role. It shows that the role of firms is not to create economic value for shareholders or stakeholders but to provide goods and services in ways that are consistent with social values. The analysis also offers a new, relational theory of the firm to help enable this paradigm shift.
Nyhet
Value Creation and the Role of Firms in Society
AvConstantijn van Aartsen
Häftad, Engelska, 2026
282 kr
Skickas
It is widely agreed by proponents of shareholder and stakeholder capitalism that firms are needed to create long-term value. While they debate whose interests this value creation should serve and how it should be measured, they rarely question the concept of value itself or whether firms should have this social role. This consensus is striking since the meaning of value is often unexplored and inadequately defined. This Element addresses that gap and challenges this consensus. It explores the nature and meaning of value, examines how value creation became the social role of firms, and asks whether firms should have this social role. It shows that the role of firms is not to create economic value for shareholders or stakeholders but to provide goods and services in ways that are consistent with social values. The analysis also offers a new, relational theory of the firm to help enable this paradigm shift.
Nyhet
Why Do Corporations Exist?
AvJang-Sup Shin
Häftad, Engelska, 2026
245 kr
Skickas inom 10-15 vardagar
Corporations are the engine of the modern economy, yet public debates are ideologically polarized between two extremes-shareholder value theory and stakeholder theory-and the real workings of corporations and their contributions to society are obscured. This book attempts to break the shackles of these two ideologies. It starts from the 'Two Corporate Axioms' that any reasonably well-informed person should accept, i.e., the dominance of corporations and the existence of market competition. It then derives the 'Eight Corporate Theorems' as logical extensions of the axioms and, based on these theorems, re-examines major issues surrounding corporations, including their purpose and governance. To make this construct more realistic, the book weaves the theorems into the story of an imaginary AI company, starting as a venture company and expanding eventually into a multi-planetary enterprise. This book concludes by offering a vision of the corporation as a long-term community for co-prosperity.
Nyhet
Why Do Corporations Exist?
AvJang-Sup Shin
Inbunden, Engelska, 2026
789 kr
Skickas inom 10-15 vardagar
Corporations are the engine of the modern economy, yet public debates are ideologically polarized between two extremes-shareholder value theory and stakeholder theory-and the real workings of corporations and their contributions to society are obscured. This book attempts to break the shackles of these two ideologies. It starts from the 'Two Corporate Axioms' that any reasonably well-informed person should accept, i.e., the dominance of corporations and the existence of market competition. It then derives the 'Eight Corporate Theorems' as logical extensions of the axioms and, based on these theorems, re-examines major issues surrounding corporations, including their purpose and governance. To make this construct more realistic, the book weaves the theorems into the story of an imaginary AI company, starting as a venture company and expanding eventually into a multi-planetary enterprise. This book concludes by offering a vision of the corporation as a long-term community for co-prosperity.
Asian Corporate Governance
Trends and Challenges
AvToru Yoshikawa
Häftad, Engelska, 2018
245 kr
Skickas inom 10-15 vardagar
This Element aims to achieve three objectives. First, it explores some key institutional characteristics of several Asian economies that are relevant to corporate governance practices. Second, it reviews corporate governance codes or rules in those economies and examines levels of requirements in terms of formal rules. Third, this Element looks at recent trends related to corporate governance such as executive compensation and a proportion of independent directors on boards of large listed firms.
Value-Creating Boards
Challenges for Future Practice and Research
AvMorten Huse
Häftad, Engelska, 2018
245 kr
Skickas inom 10-15 vardagar
This Element shapes the discussion about corporate governance and boards of directors. The arena for boards and corporate governance is not static. In Boards, Governance and Value Creation (Cambridge, 2007) Morten Huse accumulated knowledge about boards with a focus on behavioural perspectives. The present contribution reflects on what has been happening during recent years. It contributes to the literature around sustainable value creation in business and society. This Element brings an update of the content of the 2007 book, and thus provides a resource for students - as well as for reflective practitioners.
Trust, Accountability and Purpose
The Regulation of Corporate Governance
AvJustin O'Brien
Häftad, Engelska, 2019
245 kr
Skickas inom 10-15 vardagar
The collapse of trust can be found across all of our institutions but most of all in finance. This Element seeks to answer an existential question: how to rebuild trust in distrusting times? Integrity, responsibility and accountability must be embedded into corporate mission statements, values and codes of conduct. Through organisational and regulatory design across five interlocking themes - legal, regulatory, managerial, ethical and social. What is required is substantive rather than technical compliance; warranted rather than stated commitment to high ethical standards; effective deterrence strategies; enhanced accountability; and a shared commitment to risk within negotiated, binding and enforceable parameters.
Corporate Governance and Leadership
The Board as the Nexus of Leadership-in-Governance
AvMonique Cikaliuk,Ljiljana Erakovićm. fl.
Häftad, Engelska, 2020
245 kr
Skickas inom 10-15 vardagar
This Element deals with leadership and governance of corporations from the point of view of the board. We expand our understanding of board leadership by focusing on the modern company as a legal person comprised of a capital fund and the relationships among directors, shareholders, management and stakeholders. We propose a model which integrates insights from the fields of leadership and corporate governance and establishes a theoretical link illustrated by empirical findings in three intersections: team leadership on the board, the chair's leadership of the board, and strategic leadership by the board. We maintain this integrative model provides a powerful means to further an understanding of the board as the nexus of leadership and governance. We close this Element by identifying the new research directions that our integrative model opens up. We also identify the implications for practice for those who either serve on boards or provide support to them.
Corporate Governance
A Survey
AvThomas Clarke
Häftad, Engelska, 2021
245 kr
Skickas inom 10-15 vardagar
The recognition of the profound impact of corporations on the economies and societies of all countries of the world has focused attention on the growing importance of corporate governance. There is an ongoing diversity of corporate governance systems, based on historical cultural and institutional differences that involve different approaches to the values and objectives of business activity. Sound corporate governance is universally recognised as essential to market integrity and efficiency, providing a vital underpinning for financial stability and economic growth. As the adequacy of the existing dominant paradigms of corporate governance are increasingly challenged, the search for coherent new paradigms is a vital task for corporate governance in the future.
The Evolution of Corporate Governance
AvBob Tricker
Häftad, Engelska, 2021
245 kr
Skickas inom 10-15 vardagar
In this Element the origins of corporate governance are reviewed, recognising that corporate entities have always been governed, that important developments took place in the seventeenth and eighteenth centuries, and the huge significance of the invention of the joint-stock limited liability company. The development of corporate governance in the twentieth century around the world is explored, with complex groups, private companies, and top management dominating shareholder power appearing in the Inter-war years. Some unresolved issues in both principle and practice are identified. Various theories of corporate governance are described and contrasted. The subject is seen to be in search of its paradigm and a systems theoretical relationship between the theories is suggested. The need to rethink the concept of the limited liability company is argued, and a call is made for the development of a philosophy of corporate governance.
Board Dynamics
AvPhilip Stiles
Häftad, Engelska, 2021
245 kr
Skickas inom 10-15 vardagar
Boards of directors are at the apex of organisational decision-making and so are central in ensuring effective corporate governance. But boards are under increasing scrutiny due to the continuing prevalence of scandals and failures. Boards have been viewed as set up to fail because the demands placed upon them cannot effectively be delivered. In this Element, I examine this tension and look at the board as a working group, one which has an input, a process and an output. Through looking at the board as a group, the dynamics of how boards, and the potential for effective and ineffective operation, are highlighted. I conclude with outlining how the future of board dynamics may evolve.

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Elements in Corporate Governance – serie

The Role of the Board in Corporate Purpose and Strategy

Investing in Innovation

The Rhetoric and Reality of Shareholder Democracy and Hedge-Fund Activism

The Rhetoric and Reality of Shareholder Democracy and Hedge-Fund Activism

Incorporating Purpose

Incorporating Purpose

Innovation versus Financialization in the US Pharmaceutical Industry

Innovation versus Financialization in the US Pharmaceutical Industry

Regulating EU Sustainability Reporting

Regulating EU Sustainability Reporting

Value Creation and the Role of Firms in Society

Value Creation and the Role of Firms in Society

Why Do Corporations Exist?

Why Do Corporations Exist?

Asian Corporate Governance

Value-Creating Boards

Trust, Accountability and Purpose

Corporate Governance and Leadership

Corporate Governance

The Evolution of Corporate Governance

Board Dynamics

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