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