corporate governance and international business

Corporate Governance and International Business David Crowther; Shahla Seifi Download free books at David Crowther & Shahla Seii Corporate Governance and International Business Download free eBooks at bookboon.com Corporate Governance and International Business © 2011 David Crowther, Shahla Seii & bookboon.com ISBN 978-87-7681-737-4 Download free eBooks at bookboon.com Contents Corporate Governance and International Business Contents Introduction to Corporate Governance 10 1.1 Introduction 10 1.2 Governance 10 1.3 Corporate Governance 11 1.4 Governance systems and corporate social responsibility 12 1.5 Relating corporate governance and corporate social responsibility 13 1.6 References 15 1.7 Further reading 15 1.8 Self-test questions 16 Development of codes of governance and international comparisons 17 2.1 Introduction 17 2.2 Systems of governance 17 2.3 Developing a framework for corporate governance 20 2.4 Company management 21 2.5 References 23 2.6 Further reading 23 2.7 Self-test questions 24 De optimale combinatie tussen online en klassikaal onderwijs » perfect te combineren met een baan » erkende opleidingen » moderne studiemethodes Vraag gratis en vrijblijvend een studiegids aan Studiegids aanvragen Download free eBooks at bookboon.com Click on the ad to read more Contents Corporate Governance and International Business he principles of corporate governance 25 3.1 Introduction 25 3.2 he principles of governance 25 3.3 Good governance and corporate behaviour 28 3.4 Corporate Governance Principles 29 3.5 Good Governance and Sustainability 31 3.6 References 32 3.7 Further reading 32 3.8 Self-test questions 33 Stakeholders & the social contract: a broader view of corporate governance 34 4.1 Introduction 34 4.2 he Social Contract 34 4.3 What is a stakeholder? 35 4.4 Multiple stakeholdings 36 4.5 he classiication of stakeholders 36 4.6 Stakeholder heory 37 4.7 Governance and stakeholders 41 4.8 Relating corporate governance and corporate social responsibility 42 4.9 Relating social responsibility with governance: the evidence 43 4.10 Conclusions 44 nrccarriere.nl Ook voor ZZP’ers samen ambities waarmaken Download free eBooks at bookboon.com Click on the ad to read more Contents Corporate Governance and International Business 4.11 References 44 4.12 Further Reading 45 4.13 Self-test Questions 45 Issues concerning Sustainability 46 5.1 Introduction 46 5.2 Deining sustainability 46 5.3 he Brundtland Report 47 5.4 Critiquing Brundtland 48 5.5 Sustainability and the Cost of Capital 50 5.6 Redeining sustainability 50 5.7 Distributable sustainability 52 5.8 Summarising Sustainability 53 5.9 ISO 26000 54 5.10 Conclusions 55 5.11 References 55 5.12 Further reading 56 5.13 Self-test Questions 57 Ethics, corporate governance and corporate behavior 58 6.1 Introduction 58 6.2 Deining ethics 58 Unlock your potential eLibrary solutions from bookboon is the key eLibrary Interested in how we can help you? email ban@bookboon.com Download free eBooks at bookboon.com Click on the ad to read more Contents Corporate Governance and International Business 6.3 Ethical philosophies 59 6.4 Corruption 61 6.5 Culture 62 6.6 he Gaia heory 62 6.7 Corporate Behaviour 64 6.8 Governance, Ethics and Corporate Behaviour 65 6.9 Corporate Reputation 66 6.10 Conclusion 66 6.11 References 67 6.12 Further Reading 67 6.13 Self-test Questions 67 Risk Management and Corporate Governance 68 7.1 Introduction 68 7.2 Attitudes to risk 69 7.3 Managing risk 69 7.4 Risk Management Strategies 70 7.5 Risk probability proiles 72 7.6 A Typology of risk 72 7.7 Risk analysis: the cost of capital 74 7.8 he Capital Asset Pricing model 77 Download free eBooks at bookboon.com Click on the ad to read more Contents Corporate Governance and International Business 7.9 he cost of capital for a business 78 7.10 Summary 78 7.11 References 79 7.12 Further reading 79 7.13 Self-test questions 79 he Audit function and the role of regulation 80 8.1 Introduction 80 8.2 he role of audit 80 8.3 he Audit Committee 81 8.4 Agency theory and asymmetric power 81 8.5 Agency heory 82 8.6 Conclusions concerning the theory 84 8.7 Rating Agencies 84 8.8 Regulation 85 8.9 he 2008 inancial crisis 86 8.10 Failures in regulation 87 8.11 Conclusions 87 8.12 References 87 8.13 Further reading 88 8.14 Self-test questions 88 Download free eBooks at bookboon.com Click on the ad to read more Contents Corporate Governance and International Business Corporate Governance in non-commercial organisations 89 9.1 Introduction 89 9.2 Deinitions 90 9.3 he role of NGOs 90 9.4 Inlation and NGOs 91 9.5 Distinguishing features of sector 91 9.6 Types of NFP organisation 91 9.7 Motivation for NFPs 92 9.8 Implications for managers 93 9.9 Available resources 94 9.10 Structure of a charity 94 9.11 Accounting issues 95 9.12 Governance issues in NFPs 96 9.13 Conclusions 97 9.14 References 97 9.15 Further reading 97 9.16 Self-test questions 97 10 Globalisation and corporate governance 98 10.1 Introduction 98 10.2 Globalisation 99 10.3 he concept of global governance 102 10.4 Global perspectives 103 10.5 How Globalisation Afects Governance 103 10.6 Globalisation, Corporate Failures and Corporate Governance 105 10.7 Conclusion 106 10.8 References 106 10.9 Further Reading 107 10.10 Self-test Questions 107 Endnotes 108 Download free eBooks at bookboon.com Introduction to Corporate Governance Corporate Governance and International Business Introduction to Corporate Governance 1.1 Introduction he concept of governance is not a new one but nowadays we hear words as corporate governance, organizational governance or good governance frequently Actually corporate governance or, as deined in ISO FDIS 26000, organizational governance is the system by which an organization makes and implements decisions in pursuit of its objectives Simply put “governance” means: the process of decision-making and the process by which decisions are implemented (or not implemented) And according to ISO FDIS 26000, it is the most crucial factor in enabling an organization to take responsibility for the impacts of its decisions and activities and to integrate social responsibility throughout the organization and its relationships Communities and their environments are increasingly impacted by any kind of organization including small, medium, large-sized, domestic or multinational, private or governmental enterprises Some people tend to relate the prominence and importance of social responsibility to issues raised by international organizations although social responsibility has ever been important for the world business long before the emergence of multinational companies However in this book we are trying to focus on the efects related to international business 1.2 Governance he concept of governance has existed as long as any form of human organisation has existed he concept itself is merely one to encapsulate the means by which that organisation conducts itself Recently however the term has come to the forefront of public attention and this is probably because of the problems of governance which have been revealed at both a national level and in the economic sphere at the level of the corporation hese problems have caused there to be a concern with a re-examination of what exactly is meant by governance, and more speciically just what are the features of good governance It is here therefore that we must start our examination When considering national governance then this has been deined by the World Bank as the exercise of political authority and the use of institutional resources to manage society’s problems and afairs his is a view of governance which prevails in the present, with its assumption that governance is a top down process decided by those in power and passed to society at large In actual fact the concept is originally democratic and consensual, being the process by which any group of people decide to manage their afairs and relate to each other Such a consensual approach is however problematic for any but the smallest of groups and no nation has actually managed to institute governance as a consensual process With the current trend for supra-national organisations1 then this seems even more of a remote possibility; nor is it necessarily desirable hus a coercive top down form of governance enables a society to accept leadership and to make some diicult decisions which would not otherwise be made2 Equally of course it enables power to be usurped and used dictatorially – possibly beneicially3 but most probably in a way in which most members of that society not wish4 Download free eBooks at bookboon.com 10