Corporate governance in Pakistan has significantly improved over the past few years although much remains to be done. In 2002, the Securities and Exchange Commission of Pakistan promulgated Pakistan's first Code of Corporate Governance. This Code, along with the Companies Ordinance of 1984,...

The traditional view in corporate governance, shareholder primacy, holds that boards and executives should manage corporations with a single-minded focus on increasing financial returns to shareholders. By contrast, advocates of Environmental, Social and Governance (ESG) criteria and stakeholder...

Purpose: We illustrate the development of corporate governance issues in the transition economies of Central and Eastern Europe (CEE) and analyse if codes based on directives or standards are better for these economies. Design/Approach: A chapter about corporate governance codes and the...

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...

This is one of the first large-scale studies to examine the voluntary disclosure practices of foreign firms cross-listed in the United States. We proxy for voluntary disclosure using three attributes of firms' management earnings guidance: (1) the likelihood of issuance; (2) the frequency of...

How different are common law and civil law legal systems? This question has occupied legal scholars for a long time. In the last 15 years the common law/civil law divide has also become a major theme in research of economics, finance and business. In many studies it is alleged that English legal...

Has there been convergence of corporate governance systems? There has been a great deal of controversy on this issue in the last ten years, and it is likely that this debate is to re-emerge in the context of the current financial crisis. In this paper I use a new quantitative methodology...

This article reviews certain of the corporate governance provisions of the Islamic Banking Framework of the Central Bank of Oman, specifically those pertaining to Shari`a supervisory boards and related Shari`a governance entites and mechanisms. The article considers requirments pertaining to the...

The quality of democracy in our economy depends on the governance of capital, but Europeans are still deprived of real voice over their retirement money: the single biggest source of capital in the 21st century. This paper outlines three major problems facing EU pensions: precarious retirement,...