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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.
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TL;DR: In this paper, the authors examined German corporate ownership patterns and restructuring events in the 1990's and found that ownership links among German firms constitute a "small world" that has consequences for understanding mergers and acquisitions.
Abstract: The globalization offinancial markets and the concomitant restructuring decisions of firms challenge the historical legacy of national systems of governance German corporate ownership patterns and restructuring events in the 1990's are examined here in this light The results show that ownership links among German firms constitute a "small world" that has consequences for understanding mergers and acquisitions Ownership links form closely-knit clusters offirms that are nonetheless highly connected across the network as a whole Restructuring events fall squarely in the center of this structure Despite increasing global competition, the German small world tends to replicate itself To illustrate this robustness, potential disruptions to the observed German network are simulated This simulation shows that the properties of the small world remain intact even when ownership ties are changed These findings suggest that a more global economy in Germany need not lead to the dissolution of the ownership structure, but rather may be associated with a deepening of network ties
489 citations
TL;DR: The authors examined the causal relation between corporate social responsibility (CSR) and financial performance using a time series fixed effects approach and found that CSR is driven more by unobservable firm characteristics than by financial performance.
Abstract: We examine the causal relation between corporate social responsibility (CSR) and financial performance. Consistent with past studies, we find that the two variables appear to be related when we use traditional statistical techniques. However, using a time series fixed effects approach, we find that the relation between CSR and financial performance is much weaker than previously thought. We also find little evidence of causality between financial performance and narrower measures of social performance that focus on stakeholder management. Our results suggest that strong stock market performance leads to greater firm investment in aspects of CSR devoted to employee relations, but that CSR activities do not affect financial performance. We conclude that CSR is driven more by unobservable firm characteristics than by financial performance.
489 citations
TL;DR: In this paper, a comparative perspective on poverty reduction in Brazil, China, and India is presented, with a focus on HIV testing principles and practice, by Mark Gersovitz, Inessa Love, and Govinda R. Timilsina and Hari B. Dulal.
Abstract: This issue includes the following: HIV testing : principles and practice, by Mark Gersovitz. Corporate governance and performance around the world : what we know and what we don't know, by Inessa Love. A comparative perspective on poverty reduction in Brazil, China, and India, by Martin Ravallion. Adaptation amidst prosperity and adversity: insights from happiness studies from around the world, by Carol Graham. Financial transactions tax : panacea, threat, or damp squib?, by Patrick Honohan and Sean Yoder. Urban road transportation externalities : costs and choice of policy instruments, by Govinda R. Timilsina and Hari B. Dulal.
489 citations
TL;DR: The authors assesses the achievements and limitations of the private regulation of global corporate conduct and argues that while private regulation has resulted in some substantive improvements in corporate behavior, it cannot be regarded as a substitute for the more effective exercise of state authority at both the national and international levels.
Abstract: The article assesses the achievements and limitations of the private regulation of global corporate conduct. Private regulation occurs through voluntary, private, nonstate industry and cross-industry codes that address labor practices, environmental performance, and human rights policies. The author argues that while private regulation has resulted in some substantive improvements in corporate behavior, it cannot be regarded as a substitute for the more effective exercise of state authority at both the national and international levels. Ultimately, private regulation must be integrated with and reinforced by more effective state-based and enforced regulatory policies at both the national and international levels.
488 citations
Book•
01 Jan 1980
TL;DR: In this paper, the corporation in society: the corporation, its stakeholders and the 21st century, discussion case - Inland National Bank corporate social responsibility, discussion cases - Cummins Engine Company socially responsive management, and discussion case- Stride Rite Corporation (new).
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).
487 citations