Anna Grosman, Gerhard Schnyder, Alvaro Cuervo‐Cazurra, Ilya Okhmatovskiy, Geoffrey T. Wood
We review the multidisciplinary literature on state capitalism and the firm to advance the theoretical foundations of the role of the government as an owner of firms. We explain state capitalism, how it has been theorized, how types of states affect choices within and between organizations, and the implications of government involvement on firm corporate governance structures and processes. Drawing on political economy, finance
{"title":"Rethinking State Capitalism: A Cross-Disciplinary Perspective on the State’s Role in the Economy","authors":"Anna Grosman, Gerhard Schnyder, Alvaro Cuervo‐Cazurra, Ilya Okhmatovskiy, Geoffrey T. Wood","doi":"10.1561/109.00000030","DOIUrl":"https://doi.org/10.1561/109.00000030","url":null,"abstract":"We review the multidisciplinary literature on state capitalism and the firm to advance the theoretical foundations of the role of the government as an owner of firms. We explain state capitalism, how it has been theorized, how types of states affect choices within and between organizations, and the implications of government involvement on firm corporate governance structures and processes. Drawing on political economy, finance","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88764542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Shareholder Primacy as an Untenable Corporate Norm","authors":"Yong-Shik Lee","doi":"10.1561/109.00000039","DOIUrl":"https://doi.org/10.1561/109.00000039","url":null,"abstract":"","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135709695","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In countries around the world, economic dependency and growth is increasingly reliant upon the modern digital systems that power and enable services, products, and markets. Implementing and protecting these digital systems requires competent and capable public and private sector leadership actively governing the opportunities and risks of the digital future. While a small assortment of private sector corporate governance policies and practices exist worldwide related to digital and cybersecurity oversight, the broad-based application of structured boardroom oversight of these issues is both underdeveloped and underapplied and significantly lags the reality of how these technologies are impacting companies and societies in the modern world. This monograph coalesces some of the scattered but representative guidelines, rules and practices that are in existence in digital and risk governance. It also documents some of the recent developments in observed practices and regulatory rulemak-ing to develop a framework for digital and cybersecurity governance to develop this area as a necessary component of effective corporate governance worldwide.
{"title":"Digital and Cybersecurity Governance Around the World","authors":"Bob Zukis","doi":"10.1561/109.00000032","DOIUrl":"https://doi.org/10.1561/109.00000032","url":null,"abstract":"In countries around the world, economic dependency and growth is increasingly reliant upon the modern digital systems that power and enable services, products, and markets. Implementing and protecting these digital systems requires competent and capable public and private sector leadership actively governing the opportunities and risks of the digital future. While a small assortment of private sector corporate governance policies and practices exist worldwide related to digital and cybersecurity oversight, the broad-based application of structured boardroom oversight of these issues is both underdeveloped and underapplied and significantly lags the reality of how these technologies are impacting companies and societies in the modern world. This monograph coalesces some of the scattered but representative guidelines, rules and practices that are in existence in digital and risk governance. It also documents some of the recent developments in observed practices and regulatory rulemak-ing to develop a framework for digital and cybersecurity governance to develop this area as a necessary component of effective corporate governance worldwide.","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73455534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This monograph considers the social contribution of business corporations in response to the “governance triangle” of market competition, regulation and pressure from civil society. It examines both “regulated behavior” and autonomous ac-tion by corporations in achieving social goals. Corporations are bound by a network of constraints and the monograph considers the elements of this network and the current and projected outcomes as corporations respond to external and internal pressures. The implications for policy and governance are drawn. The literature is examined critically and a potential research agenda is drawn. The mechanisms of change are analyzed together with their likely efficacy in achieving social purposes for the business corporation. This monograph examines the evolution of the social purpose of the corporation. This development has taken place against the background of changing regulations and the acceleration (and then the recent decel-eration) of globalization. Consequently, international regulations, codes of conduct and standards have impinged upon corporate strategy as Corporate Social Responsibility (CSR) practices have transmuted from compliance to notions of “corporate citizenship” and then to “the responsible corporation”. This growing web of constraint on corporations has led to the belief that corporations should earn a “license to operate” based on their social contributions. The idea that social goals must be internalized into corporate strategic goals leads to the emergence of the “purposeful corporation”. These changes in the environment for business provide strategic opportunities as well as constraints. The global nature of the strategies, impacts and policies is emphasized throughout.
{"title":"The Social Purpose of the Modern Business Corporation","authors":"P. Buckley","doi":"10.1561/109.00000026","DOIUrl":"https://doi.org/10.1561/109.00000026","url":null,"abstract":"This monograph considers the social contribution of business corporations in response to the “governance triangle” of market competition, regulation and pressure from civil society. It examines both “regulated behavior” and autonomous ac-tion by corporations in achieving social goals. Corporations are bound by a network of constraints and the monograph considers the elements of this network and the current and projected outcomes as corporations respond to external and internal pressures. The implications for policy and governance are drawn. The literature is examined critically and a potential research agenda is drawn. The mechanisms of change are analyzed together with their likely efficacy in achieving social purposes for the business corporation. This monograph examines the evolution of the social purpose of the corporation. This development has taken place against the background of changing regulations and the acceleration (and then the recent decel-eration) of globalization. Consequently, international regulations, codes of conduct and standards have impinged upon corporate strategy as Corporate Social Responsibility (CSR) practices have transmuted from compliance to notions of “corporate citizenship” and then to “the responsible corporation”. This growing web of constraint on corporations has led to the belief that corporations should earn a “license to operate” based on their social contributions. The idea that social goals must be internalized into corporate strategic goals leads to the emergence of the “purposeful corporation”. These changes in the environment for business provide strategic opportunities as well as constraints. The global nature of the strategies, impacts and policies is emphasized throughout.","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82494107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Beyond ESG: Reforming Capitalism and Social Democracy","authors":"M. Boyer","doi":"10.1561/109.00000033","DOIUrl":"https://doi.org/10.1561/109.00000033","url":null,"abstract":"","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74331936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An Initial Public Offering (IPO) is a crucial stage in the life of a firm since it allows the firm to emerge and grow. Corporate Governance, intended as the set of mechanisms and institutional designs that ensure that investors get a return on their investment, is a key aspect in the IPO since it ultimately affects its performance as well as the valuation given by the market. In this manuscript, we review the trajectory of the literature on corporate governance using a theoretical framework that distinguishes corporate governance mechanisms from market, authority and institutional mechanisms.
{"title":"Corporate Governance in IPO Firms","authors":"Erik E. Lehmann, S. Vismara","doi":"10.1561/109.00000012","DOIUrl":"https://doi.org/10.1561/109.00000012","url":null,"abstract":"An Initial Public Offering (IPO) is a crucial stage in the life of a firm since it allows the firm to emerge and grow. Corporate Governance, intended as the set of mechanisms and institutional designs that ensure that investors get a return on their investment, is a key aspect in the IPO since it ultimately affects its performance as well as the valuation given by the market. In this manuscript, we review the \u0000trajectory of the literature on corporate governance using a theoretical framework that distinguishes corporate governance mechanisms from market, authority and institutional mechanisms.","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83272246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Market transition without an\u0000accompanying industrial revolution:\u0000A reexamination","authors":"S. Mizobata, H. Hayashi","doi":"10.1561/109.00000023-2","DOIUrl":"https://doi.org/10.1561/109.00000023-2","url":null,"abstract":"","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90576237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic transition, Corporate Governance and Implications for Employment Relations in China
经济转型、公司治理及其对中国雇佣关系的影响
{"title":"Economic transition, Corporate\u0000Governance and Implications for\u0000Employment Relations in China","authors":"F. Cooke","doi":"10.1561/109.00000023-1","DOIUrl":"https://doi.org/10.1561/109.00000023-1","url":null,"abstract":"Economic transition, Corporate Governance and Implications for Employment Relations in China","PeriodicalId":41253,"journal":{"name":"Annals of Corporate Governance","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84087042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：