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Corporate governance

About: Corporate governance is a research topic. Over the lifetime, 118591 publications have been published within this topic receiving 2793582 citations.


Papers
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Journal ArticleDOI
TL;DR: In this paper, the influence of different institutional environments on CSR policies of European firms was investigated. And they found that firms from the more liberal market economies of the Anglo-Saxon countries score higher on most dimensions of CSR than firms in the more coordinated market economies (CMEs) in Continental Europe.
Abstract: In spite of extensive research on corporate social responsibility (CSR) and its link with economic and social performance, few studies have investigated the institutional determinants of CSR. This article draws upon neo-institutional theory and comparative institutional analysis to compare the influence of different institutional environments on CSR policies of European firms. On the basis of a dataset of European firms, we find that firms from the more liberal market economies of the Anglo-Saxon countries score higher on most dimensions of CSR than firms in the more coordinated market economies (CMEs) in Continental Europe. This result lends support to the view of voluntary CSR practices in liberal economies as being a substitute for institutionalized forms of stakeholder participation. Meanwhile, CSR tends not to mirror more institutionalized forms of stakeholder coordination. Instead, in CMEs, CSR often takes on more implicit forms. Our analysis also shows that national institutional and sectoral-level factors have an asymmetric effect – strongly influencing the likelihood of firms adopting ‘minimum standards’ of CSR, but having little influence on the adoption of ‘best practices’.

572 citations

Journal ArticleDOI
TL;DR: The role of transnational partnerships in contemporary global environmental discourse raises larger questions of the legitimacy, effectiveness and accountability of networked governance as mentioned in this paper, and a conceptual framework for evaluating the legitimacy of partnership networks.
Abstract: The role of transnational partnerships in contemporary global environmental discourse raises larger questions of the legitimacy, effectiveness and accountability of networked governance. This article advances a conceptual framework for evaluating the legitimacy of partnership networks. Furthermore, it examines, in particular, the multi-stakeholder partnerships for sustainable development announced at the World Summit on Sustainable Development in Johannesburg 2002. Partnership networks have been branded as a new form of global governance with the potential to bridge multilateral norms and local action by drawing on a diverse number of actors in civil society, government and business. Does the rise of global partnerships imply a re-location and diffusion of authority from government to public–private ‘implementation networks’? Recent evaluations of the Johannesburg partnerships suggest that they can gain from a clearer linkage to existing institutions and multilateral agreements, measurable targets and timetables, more effective leadership, improved accountability, systematic review, reporting and monitoring mechanisms. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment.

572 citations

Book
01 Aug 2001
TL;DR: In this paper, a public role for the private sector explores the phenomenon of industry self-regulation through three different cases (environment, labor, and information privacy) where corporate leaders appear to be converging on industry selfregulation as the appropriate response to competing pressures.
Abstract: Increasing economic competition combined with the powerful threat of transnational activism are pushing firms to develop new political strategies. Over the past decade a growing number of corporations have adopted policies of industry self-regulation --corporate codes of conduct, social and environmental standards, and auditing and monitoring systems. A Public Role for the Private Sector explores the phenomenon of industry self-regulation through three different cases --environment, labor, and information privacy --where corporate leaders appear to be converging on industry self-regulation as the appropriate response to competing pressures. Political and economic risks, reputational effects, and learning within the business community all influence the adoption of a self-regulatory strategy, but there are wide variations in the strength and character of it across industries and issue areas. Industry self-regulation raises significant questions about the place of the private sector in regulation and governance, and the accountability, legitimacy and power of industry at a time of rapid globalization.

572 citations

Journal ArticleDOI
TL;DR: This article explore how compensation policies following mergers affect a CEO's incentives to pursue a merger and find that even in mergers where bidding shareholders are worse off, bidding CEOs are better off three quarters of the time.
Abstract: We explore how compensation policies following mergers affect a CEO's incentives to pursue a merger. We find that even in mergers where bidding shareholders are worse off, bidding CEOs are better off three quarters of the time. Following a merger, a CEO's pay and overall wealth become insensitive to negative stock performance, but a CEO's wealth rises in step with positive stock performance. Corporate governance matters; bidding firms with stronger boards retain the sensitivity of their CEOs' compensation to poor performance following the merger. In comparison, we find that CEOs are not rewarded for undertaking major capital expenditures.

571 citations

Journal ArticleDOI
TL;DR: In this paper, the authors find that firms attracting governance proposals have poor prior performance, as measured by the market-to-book ratio, operating return, and sales growth, and that even proposals that receive a majority of shareholder votes typically do not engender share price increases or change in firm policies.

568 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20251
202415
20239,644
202219,289
20215,513
20206,174