Showing papers on "Corporate governance published in 1980"

Business and society : corporate strategy, public policy, ethics

Abstract: Part 1 The corporation in society: the corporation, its stakeholders and the 21st century, discussion case - Inland National Bank corporate social responsibility, discussion case - Cummins Engine Company socially responsive management, discussion case - Stride Rite Corporation (new). Part 2 The corporation and ethical issues: ethical dilemmas in business, discussion case - it's a short life, so go ahead, light up! ethical reasoning and corporate programmes, discussion case - organizing for ethical reform. Part 3 The corporation in a global society: managing in diverse social systems, discussion case - what is Hong Kong's future? (new) global challenges to corporate responsibility, discussion case - General Electric in Hungary (new). Part 4 The corporation and public policy. (Part contents).

Leadership for Cut-Back Management: The Use of Corporate Strategy

Abstract: F or the manager of a governmental agency faced with a real and severe cutback in resources, nothing is more central to the exercise of leadership than the definition and articulation of a new "corporate strategy" for that agency. What, now, are to be the principal purposes of the agency? With what policies and programs should it pursue these new purposes? How can the resources it has, and can expect to have in the future, be best mobilized and organized to achieve these purposes? Answering these questions in a coherent and realistic manner-and explaining the answers to employees, legislators, constituents, and the public-is essential for the public manager who seeks to lead an agency through a series of cutbacks and to emerge with a functioning, energetic and effective organization.

Internalization Theory and Corporate International Finance

Abstract: Corporate international finance must consider the role of multinational rather than domestic corporations. The emphasis of the theory of internalization on market imperfections is significant in three areas of corporate international finance: international diversification, transfer pricing, and the financial structure of the multinational enterprise.

Corporate Debt and Corporate Taxes: An Extension

Abstract: IN THE SEPTEMBER 1979 issue of this journal, Bierman-Oldfield [1] show that the Modigliani-Miller Proposition I with corporate taxation is unaltered by the existence of risky debt. Bierman-Oldfield state on page 954 that the analysis implies the expected returns on debt, unlevered equity, and levered equity are determined simultaneously and linked together by the capital asset pricing equilibrium. The purpose of this extension is to examine the exact linkage of the aforementioned expectations resulting from pure capital structure rearrangements. Hamada [5], by integrating Modigliani-Miller Proposition I with the standard capital asset pricing model, has shown the exact linkage between the return expectations of unlevered equity and levered equity. The Hamada result assumes returns on corporate debt are risk free. An interesting, and not widely recognized, result is that the correlation between the levered firm and the market portfolio, a primary input to the measurement of diversification relative to the market, can be directly influenced by the financing decision of the firm.' This conclusion will obtain specifically by allowing for risky corporate debt. When considering that individual investors typically hold undiversified portfolios, the result takes on an added dimension [e.g., 2]. In Section II the equilibrium relationship of the return expectations is developed, and extended in Section III to demonstrate the effect of the financing decision on firm diversification relative to the market. The extension is concluded and implications are summarized in Section IV. The Bierman-Oldfield results are assumed throughout.

Policy Making and Effective Leadership: A National Study of Academic Management.

Abstract: (1980). Policy Making and Effective Leadership: A National Study of Academic Management. The Journal of Higher Education: Vol. 51, No. 2, pp. 225-228.

Taxation and Corporate Financial Policy

Abstract: A model of corporate financial policy (debt-equity ratios and dividend payout rates) is included in the Harberger general equilibrium model of incidence of the corporate income tax. Illustrative calculations of the distortions of financial policy and increases in risk premiums induced by the corporate tax are provided. Because risk premiums on corporate securities would be reduced, eliminating the corporate tax or integrating it into the personal tax would increase the income of noncorporate investors relatively more than that of investors in corporate securities, and is therefore less regressive than is commonly thought.

A Reexamination of the Unique Features of Japan's Corporate Financial Structure A Comparison of Corporate Balance Sheets in Japan and the United States

Abstract: This report presents a reexamination, by means of a comparison of Japanese and United States corporate balance sheets, of concepts that have come to be regarded as the most remarkable features of corporate finance in Japan — namely (1) a low net-worth ratio (the predominance of borrowed capital) and (2) a high degree of dependency on financial institutions (the predominance of indirect financing) — as a preliminary to any analysis of the structure of corporate finances and corporate behaviors in Japan. (1) We have three major findings as follows: (1) The conventional method of comparison between the two countries is superficial and one-sided, and needs to be modified. There are major differences between Japan and the United States in corporations' hidden assets, sources of funds via leases and subsidiary finance companies, and the terms of flotation and routes of sales of corporate debentures. In undertaking a comparative study of special features of the financial structures of the two countries based on ...

Corporate growth strategies

Abstract: Despite the depletion of natural resources and social costs of industrial production, corporate growth will remain a central objective for managers of American corporations in the coming decade. What must change is how that objective is pursued.

Controlling corporate deviance

Abstract: The effectiveness of sanctions applied to corporate offenders has not been adequately studied, in part because of the absence of any appropriate research strategy. This absence stems from the tendency. since Sutherland, to conceptualize corporate crime as individual rather than organizational behavior. This article outlines a research procedure based on the organizational nature of corporate crime and uses it to evaluate the impact of prosecutions under Australia's Trade Practices Act. The article concludes that the sanctions applied have considerably reduced the likelihood of corporate recidivism.

Research in Corporate Social Performance and Policy. Volume I

Abstract: (1980). Research in Corporate Social Performance and Policy. Volume I. Journal of Economic Issues: Vol. 14, No. 1, pp. 238-240.

Aspects of General Education Governance and PL 94-142 Implementation

Abstract: Implementing the intent of PL 94-142 calls for insightful leadership and governance on an integrated and expanded basis involving the total school system. In many instances, current social demands on and subsequent shifts in general educational governance undergird the mainstays of public laws. Implementation of PL 94-142 and Section 504 of the Rehabilitation Act of 1973 can have and in many Local Education Agencies (LEAs) is having positive and supportive impact on general education administrators facing social, political, and educational demands. Administrators' activities in today's schools encompass more than the neutral tasks often associated with administration. Governance which perhaps better describes a major portion of these activities than does \"administration\" involves carrying out policy decisions. In several areas of implementation, PL 94-142 provides an impetus for and coincides with such activities. Even though many school systems have made strides, implementation remains a highly complex, problematic process. Currently, far more questions, concerns, and unresolved issues exist than alternative courses of implementation based on assertive, confident actions. Implementation of federal and state regulations mandating a free and appropriate education for all students deemed to need special services cannot always be separated from other pressing social and political-based issues like desegregation, minimum performance standards, declining enrollments, school finance reform, and various special interest groups, in addition to the equity demands of minority and handicapped individuals. These issues are further compounded as current educational governance takes place in a post-affluent society with no prospects for any economic changes reflecting the affluent days of the 1950s and 1960s. In short, the general education administrator is responsible for implementing a mandate that yields a multitude of interpretations and ambiguities while governing a \"declining industry\" in a country facing social, economic, and political unrest. This feat is to be accomplished in collaboration with special ( or exceptional) education administrators, many of whom are holding onto long-time \"turfs\" and established empires and at the same time struggling to come to terms with the new \"faces\" of exceptional education.

Policy-making and governance in academic health centers.

Abstract: Treating academic health centers (AHCs) as unique organizations that merit serious investigation, the authors outline key changes which have shaped today's AHCs, discuss various modes of AHC organization and governance, and analyze certain factors which make AHC policy-making so complex. In addition, they assess the relevance of certain policy-making models, concluding that no one model completely describes AHC governance. They suggest that the contingency theory of organizations offers a useful perspective on AHCs and point to matrix management as one contemporary method being tried in an effort to cope with the problems of AHC governance. Finally, the authors offer a set of decision-making continua as an alternative to governance models for analyzing policy-making in AHCs.

Nationalization of Local Politics and the Governance of Cities in the United States

Abstract: The related developments of the emergence of a national economy and the nationalization of local politics have fragmented the "traditional" local political order of American cities. This becomes apparent beginning around 1965 and especially in the 1970s. As a consequence, the cities, particularly the older cities which grew up in the nineteenth century with industrialization, have lost their rationale as centers of production to a national economy and their political agenda to the federal government. The point of departure is that the urban problem is that of governance and the problem of governance is the lack of local political organizations that can act as focal points for participation into policy. The local political system of the mid-1960s is described, certain changes since then hypothesized, and the possible development of "vertical" (neighborhood-local govern ment) linkages is discussed.

Parents/ Citizens: The Fourth Force in Education

Abstract: The governance of the schools must be shared among all the participants in the educational process including parents, says this writer, who believes parent/ citizen involvement is critical to the survival of public schools.