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Articles 1 - 7 of 7
Full-Text Articles in Business Law, Public Responsibility, and Ethics
Japanese Corporate Governance: Structural Change And Financial Performance, Asli M. Colpan, Toru Yoshikawa, Takashi Hikino, Hiroaki Miyoshi
Japanese Corporate Governance: Structural Change And Financial Performance, Asli M. Colpan, Toru Yoshikawa, Takashi Hikino, Hiroaki Miyoshi
Research Collection Lee Kong Chian School Of Business
This paper analyzes institutional and legal changes related to corporate governance and their impact on financial performance in Japan since the second half of the 1990s. We attempt to address two issues systematically: (1) how much the governance reforms of Japanese firms transformed the conventional system of alliance capitalism and managerial control; and (2) what economic outcomes those governance changes have yielded. As the Commercial Code and other legal and institutional frameworks were revised, Japanese firms experienced shifts in terms of stock ownership, corporate control and managerial organizations. Our empirical results show that the influence of new ownership composition and …
Corporate Governance Reform As Institutional Innovation: The Case Of Japan, Toru Yoshikawa, Lai Si Tsui-Auch, Jean Mcguire
Corporate Governance Reform As Institutional Innovation: The Case Of Japan, Toru Yoshikawa, Lai Si Tsui-Auch, Jean Mcguire
Research Collection Lee Kong Chian School Of Business
To address the convergence-divergence debate in corporate governance, we conduct a multiple-case, multiple-level study to analyze the diffusion of governance innovation in Japan. We argue that Japanese systems of corporate governance neither fully converge to, nor completely diverge from, the Anglo-American model. Rather, Sony-the pioneer of corporate governance reforms-and its followers selectively adopted features from this model, decoupled them from the original context, and tailored them to fit to their own situations to generate governance innovation. However, we find that the spread of innovation across firms and institutional levels is far from linear and straightforward, and that other well-regarded firms …
The Association Between Corporate Governance And Audit Fees, Cindy K. Harris
The Association Between Corporate Governance And Audit Fees, Cindy K. Harris
Business and Economics Faculty Publications
The Sarbanes-Oxley Act of 2002 (“SOX”) established not only corporate governance reform but also legislated significant changes to the practice of auditing publicly held corporations. Rules implemented by the Securities and Exchange Commission (“SEC”) further reinforced stronger corporate governance standards. The effect of these reforms on the cost of public audits is indisputable: the initial rise in audit fees was dramatic as corporations complied with the new provisions. This paper examines the relationship between corporate governance characteristics and audit fees for a random sample of 100 publicly traded corporations drawn from the 2005 Fortune 500 list. The data is obtained …
News And Corporate Governance: What Dow Jones And Reuters Teach Us About Stewardship, Donald Nordberg
News And Corporate Governance: What Dow Jones And Reuters Teach Us About Stewardship, Donald Nordberg
Donald Nordberg
This paper in an early draft of an article that appeared in Journalism: Theory, Practice and Criticism in 2007. The outcomes of near simultaneous bids for the news organizations Reuters Group plc and Dow Jones & Co. Inc. in 2007 hinged on mechanisms of corporate governance put in place at each company to protect the integrity and independence of the editorial operations. Neither company is a particularly model of good governance, since the restrictions – super-voting shares at DJ, veto-power by the trustees of the Founders Share Company at Reuters – almost completely rule out an open market for corporate …
The Ethics Of Corporate Governance, Donald Nordberg
The Ethics Of Corporate Governance, Donald Nordberg
Donald Nordberg
This paper is an early draft of an article that appeared in the Journal of General Management in 2008. How should corporate directors determine what is the "right" decision? For at least the past 30 years the debate has raged as to whether shareholder value should take precedence over corporate social responsibility when crucial decisions arise. Directors face pressure, not least from "ethical" investors, to do the "good" thing when they seek to make the "right" choice. Corporate governance theory has tended to look to agency theory and the need of boards to curb excessive executive power to guide directors' …
Rebalancing The Board's Agenda, Donald Nordberg
Rebalancing The Board's Agenda, Donald Nordberg
Donald Nordberg
This paper is a draft of an article published in the Journal of General Management in 2007. Since the corporate governance scandals of 2001 and 2002, the work of boards of directors has been dominated by board processes and compliance, with a corresponding reduction in the emphasis on value creation. This discussion paper proposes a model for board activities and raises questions about how they can be rebalanced to provide greater emphasis on the board's strategic advisory role. It also looks at European governance issues, including the role of dual boards.
Board Interlocking Strategies In Emerging Markets: The Case Of Chile, Alfredo Enrione, Fernanzdo Zerboni
Board Interlocking Strategies In Emerging Markets: The Case Of Chile, Alfredo Enrione, Fernanzdo Zerboni
Alfredo Enrione
Interlocking directorates is a widely studied, applied measure of governance practice. Most of the research has been limited to data from developed countries and studies interlocking as an explanatory variable of other governance constructs. This work conceptualizes interlocking as a rational decision of the owner/controller of a company, as a dependent variable of board’s design, and applies the concepts in an emerging market business environment. We found significant associations between interlocking and firm characteristics such as ownership structure, industry and regulation. We finally draw some conclusions on the direct application of corporate governance theories in developing countries.