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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, a simple model of an entrepreneur going public in an environment with poor legal protection of outside shareholders is presented, which is consistent with a number of empirical regularities concerning the relation between investor protection and corporate finance.

877 citations

Journal ArticleDOI
TL;DR: Gov-score as discussed by the authors is a summary governance measure based on 51 firm-specific provisions representing both internal and external governance, and they show that a parsimonious index based on seven provisions underlying Gov-Score fully drives the relation between Gov-score and firm value.

875 citations

Journal ArticleDOI
TL;DR: The articles in this special feature address how scholars and public officials can increase the prospects for future sustainable resource use by facilitating a diagnostic approach in selecting appropriate starting points for governance and monitoring, as well as by learning from the outcomes of new policies and adapting in light of effective feedback.
Abstract: In the context of governance of human-environment interactions, a panacea refers to a blueprint for a single type of governance system (e.g., government ownership, privatization, community property) that is applied to all environmental problems. The aim of this special feature is to provide theoretical analysis and empirical evidence to caution against the tendency, when confronted with pervasive uncertainty, to believe that scholars can generate simple models of linked social-ecological systems and deduce general solutions to the overuse of resources. Practitioners and scholars who fall into panacea traps falsely assume that all problems of resource governance can be represented by a small set of simple models, because they falsely perceive that the preferences and perceptions of most resource users are the same. Readers of this special feature will become acquainted with many cases in which panaceas fail. The articles provide an excellent overview of why they fail. Furthermore, the articles in this special feature address how scholars and public officials can increase the prospects for future sustainable resource use by facilitating a diagnostic approach in selecting appropriate starting points for governance and monitoring, as well as by learning from the outcomes of new policies and adapting in light of effective feedback.

873 citations

Journal ArticleDOI
TL;DR: The authors found that family firms have larger analyst following, more informative analysts' forecasts, and smaller bid-ask spreads than non-family firms, and that these characteristics of family firms affect their corporate disclosure practices.
Abstract: Compared to non-family firms, family firms face less severe agency problems due to the separation of ownership and management, but more severe agency problems that arise between controlling and non-controlling shareholders. These characteristics of family firms affect their corporate disclosure practices. For S&P 500 firms, we show that family firms report better quality earnings, are more likely to warn for a given magnitude of bad news, but make fewer disclosures about their corporate governance practices. Consistent with family firms making better financial disclosures, we find that family firms have larger analyst following, more informative analysts' forecasts, and smaller bid-ask spreads.

872 citations

Book
01 Oct 2007
TL;DR: Transition management aims to deal with persistent societal problems as mentioned in this paper through combining long-term envisioning, short-term experiments in a selective participatory process that supports policy integration, social learning and social innovation.
Abstract: textThis book introduces transition management as a new mode of governance for sustainable development. Transition management combines a conceptual approach on social complexity, governance and long-term structural societal change with an operational governance model to actually work towards sustainability through learning-by- doing and doing-by-learning. The basic rationale behind transition management is that we are faced with societal problems of such complexity and magnitude, that existing approaches do not suffice. Such persistent problems can be found in many areas of society: energy, mobility, agriculture, water management, but also in health care, education, construction and industry. In these areas agreement upon definitions of sustainability the best solutions is impossible to achieve so that top-down planning is impossible, while at the same time sustainability can also never be achieved solely through bottom- up innovation and liberalization: sustainable development re! quires taking into account collective goods, future needs and un certain future development. Transition management aims to deal with persistent societal problems through combining long-term envisioning, short-term experiments in a selective participatory process that supports policy integration, social learning and social innovation. It focuses on frontrunners, entrepreneurs, niche-actors and innovative individuals and organizations in general that are committed to sustainable development. More often than not, innovations that in the long-term could contribute to sustainable development are unable to break through because of for example fragmentation, lack of means and support, limited attention to external (socio-economic) factors or lack of exposure. By simultaneously raising awareness and political acceptance for sustainable development in a specific area and by developing more coherence, cooperation and strategic capabilities at the level of the innovations, a structured process of social experimentation and learning can evolve that gradually leads to fundamenta! l structures in our societal systems. The central instrument for transition management is the transition arena: a scientifically underpinned operational model for coordinating and structuring transition management processes (especially in the predevelopment phase). The transition arena is a mental, physical and institutional space for experimentation, envisioning and network-building that is legitimized by regular policy. In the transition arena, different types of innovators with various backgrounds, perspectives and ambitions are brought together and develop shared long-term perspectives and a transition agenda that increasingly will influence regular policy. This approach has been introduced into research and policy in the Netherlands in 2001 and since then successfully applied in areas of sustainable energy, mobility, agriculture and housing . It has also been adopted as a new paradigm and approach in multi-disciplinary research . This book covers offers insight into the first five years of development of theory and practice of transition management in the Netherlands. As such, it is a unique account of an innovative experiment in policy theory and practice that is highly relevant for sustainable development in the international context.

868 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