Alternative forms of disciplining the actionsof senior enterprise managers can becharacterized as shareholder or stakeholdergovernance. This paper analyzes thecontingencies that favour different forms ofgovernance and addresses the question: doesRussia need a stakeholder-oriented model...

What is the best for acompany? In most countries it isconsidered to be a duty for board membersto act in the best interest of thecompany. Few, however, question ``who orwhat really counts'' in the boards'governance decisions, and that boards mayplay various roles in carrying out theirduties. In...

As a result of pressure from Western-controlled institutions (World Bank and IMF) and Western multinationals, Nigeria has adopted Western-dictated corporate governance guidelines. However, this paper develops sociological theories of corruption and globalisation to provide the evidence, which...

In the shareholder theory of firms, the company's assets are the property of the shareholders, and managers are viewed as agents of the shareholders with all of the enforcement difficulties associated with agency relationships, but without legal obligations to any other stakeholder. An...

Traditionally, corporate governance has focused on the problem of crafting mechanisms to align the interests of owners and managers. The key characteristic has been to minimize the potential for managers to act in their own self-interest at the expense of shareholders. The purpose of this paper...

The Venice Biennale, founded in 1893, is situated within the cultural sphere, covering work ranging from art, architecture, dance, music and theatre to cinema (the world-known 'Venice Film Festival'). Throughout its life, the Biennale has experienced very troubled times, being involved in...

When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become an effective entrenchment strategy for inefficient CEOs. We thus argue that managerial turnover and firm value are increased by the institutionalization of stakeholder...