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Articles 1 - 6 of 6
Full-Text Articles in Business Law, Public Responsibility, and Ethics
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
In the corporate finance tradition, starting with Berle and Means (1932), corporations should generally be run to maximize shareholder value. The agency view of corporate social responsibility (CSR) considers CSR an agency problem and a waste of corporate resources. Given our identification strategy by means of an instrumental variable approach, we find that well-governed firms that suffer less from agency concerns (less cash abundance, positive pay-for-performance, small control wedge, strong minority protection) engage more in CSR. We also find that a positive relation exists between CSR and value and that CSR attenuates the negative relation between managerial entrenchment and value.
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
In the corporate finance tradition starting with Berle & Means (1923), corporations should generally be run so as to maximize shareholder value. The agency view of corporate social responsibility (CSR) considers CSR as an agency problem and a waste of corporate resources. Given our identification strategy by means of an IV approach, we find that well-governed firms who suffer less from agency concerns (less cash abundance, positive pay-for-performance, small control wedge, strong minority protection) engage more in CSR. We also find a positive relation between CSR and value and that CSR attenuates the negative relation between managerial entrenchment and value.
Bridge Or Buffer: Two Ideas Of Effective Corporate Governance And Public Engagement, Soojin Kim, Jeong-Nam Kim
Bridge Or Buffer: Two Ideas Of Effective Corporate Governance And Public Engagement, Soojin Kim, Jeong-Nam Kim
Research Collection Lee Kong Chian School Of Business
This study identifies organizational factors that influence corporate governance and formulation of public relations strategies for public engagement. This study explores intertwined relationships between public relations strategies and organizational factors. A total of 22 qualitative interviews were conducted with a diverse pool of communication consultants. Results show that the two public relations strategies, bridging and buffering, are frequently observed and linked with key factors such as size, organizational culture, environment specificity, and strategic orientation. Implications for future public relations and corporate governance research are discussed.
Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen
Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen
Research Collection Yong Pung How School Of Law
The purpose of this Article is to examine the corporate governance of state-owned enterprises (SOEs) in the Asian context by empirically surveying the influence of Temasek Holdings, Singapore’s sovereign wealth fund, on its portfolio of government-linked companies in Singapore. Overall, the Temasek model seems to be a promising one. This Article shows that the top listed government-linked companies in which Temasek has a stake have greater board independence than the other top listed companies in Singapore. This illustrates that a high quality of corporate governance could be aligned with public interests associated with SOEs. While this research offers hope for …
The Stewardship Of Trust In The Global Value Chain, Kishanthi Parella
The Stewardship Of Trust In The Global Value Chain, Kishanthi Parella
Scholarly Articles
Global governance has not yet caught up with the globalization of business. As a result, our headlines provide daily accounts of the extent and consequences of these "governance gaps." The ability of corporations to evade state control also contributes to an unusual, even frightening, phenomenon: corporations are governing like states. Some governance functions traditionally delivered by state actors are now increasingly undertaken by transnational corporations. One area that is experiencing this substitution is dispute resolution of human rights. Corporations and other business enterprises, individually or collectively, are creating a variety of grievance mechanisms to address human rights and other conflicts …
Modern-Day Monitorships, Veronica Root
Modern-Day Monitorships, Veronica Root
Faculty Scholarship
When a sexual abuse scandal rocked Penn State, when Apple was found to have engaged in anticompetitive behavior, and when servicers like Bank of America improperly foreclosed upon hundreds of thousands of homeowners, each organization entered into a "Modern-Day Monitorship”. Modern-day monitorships are utilized in an array of contexts to assist in widely varying remediation efforts. This is because they provide outsiders with a unique source of information about the efficacy of the tarnished organization's efforts to resolve misconduct. Yet, despite their use in high profile and serious matters of organizational wrongdoing, they are not an outgrowth of careful study …