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This paper outlines the foundations of corporate governance. The discussion includes a review on the modern corporation, transaction costs theory, agency costs theory, legal investor protection, investor protection by corporate governance and its various mechanisms, as well as an overview of the...
Persistent link: https://www.econbiz.de/10011390672
stakeholders to ensure that the right issues are raised, transparency and effective oversight are achieved, and the Board is …
Persistent link: https://www.econbiz.de/10014280266
zu adressieren. (2) Die ordonomische Unternehmensethik korporativer Akteure argumentiert, dass Unternehmen für ihre …
Persistent link: https://www.econbiz.de/10011733779
The present paper uses a comparison of Japan and the US to argue that the debate about corporate governance reform is best framed in terms of systems of complementary instruments and institutions. It argues that the Japanese and US systems of corporate governance differ along many dimensions,...
Persistent link: https://www.econbiz.de/10010274194
This paper provides a rationale for the coexistence of different systems of corporate governance based on the multitude of agency problems typically to be governed within a given firm. Because there are complementarity and substitution relationships between governance instruments, specific...
Persistent link: https://www.econbiz.de/10010260521
The paper shows that, as owners accumulate larger stakes and hence become less risk-tolerant, their incentives to monitor management are attenuated because monitoring shifts some of the firm's risk from management to owners. This counterbalances the positive effect which more concentrated...
Persistent link: https://www.econbiz.de/10010260562
This article presents a review of the studies on on boards of directors and corporate social responsibility practices in the banking industry. Several characteristics of bank boards, in particular independence and diversity, may impact their CSR commitments. By studying a sample of 159 banks in...
Persistent link: https://www.econbiz.de/10011985018
This paper has two main aims. Firstly, we examine whether, given a critical mass of female board members, their presence has a different effect on the firm's CSR practices according to its family or non-family nature. We then consider whether the moderating role of the institutional environment...
Persistent link: https://www.econbiz.de/10012611586
Die Corporate-Governance-Forschung hat sich lange Zeit vor allem auf die Veränderungen in den kontinentaleuropäischen „Insidersystemen“ konzentriert. Nach den dramatischen Unternehmensskandalen in den USA und im Zuge der steigenden Anforderungen an ein „nachhaltiges Wirtschaften“...
Persistent link: https://www.econbiz.de/10010306381
) heterogeneity on corporate sustainability. Relying on an agency‐theoretical framework, we differentiate between various types of IO … sustainability performance. Long‐term, sustainable, and foreign IO leads to better ESG/CSR outputs. Based on the business case … argument for corporate sustainability, long‐term institutional investors moderate the positive link between corporate …
Persistent link: https://www.econbiz.de/10014504184