Boards, Governance and Value Creation: The Human Side of Corporate Governance
Cambridge University Press, 2007 M04 19
What is the role of boards in corporate governance? How should they be structured in order to maximize value creation? This 2007 book looks at the role of boards in a variety of different countries and contexts, from small and medium-sized enterprises to large corporations. It explores the working style of boards and how they can best achieve their task expectations. Board effectiveness and value creation are shown to be the results of interactions between owners, managers, board members and other actors. Board behaviour is thus seen to be a result of strategizing, norms, board leadership, and the decision-making culture within the boardroom. Combining value creation, behavioural and ethical approaches to the study of boards, this work offers a systematic framework which will be of value to graduate students and researchers in the field of corporate social responsibility and business ethics.
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Only an odd number of people can lead a corporation
The context and resources are presented in this chapter The
Table 56 Tasks and identities of outside directors in SMEs
Chap 2 Chap 2 External actors Internal actors Chap 5
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agency theory arenas behavioural control behavioural theory board chairperson board composition board evaluations board meetings board members board structures board task expectations board task performance board’s boardroom culture boards and governance boards of directors bounded rationality business angels capital CEO duality Chap codes of best competence concepts context contribute control tasks corporate governance decision-making culture decisions discussion dynamics emphasised employees ethics example external actors family businesses firm’s focus formal framework Game theory important incentives independence influence information asymmetry innovation institutional interactions internal investors issues knowledge mentoring non-executive norms number of board ofthe openness and generosity organisational Oslo Stock Exchange output control owners ownership perspective processes quantitative control relationships resource dependence theory resource-based resource-based view role shareholder supremacy social capital stakeholder theory stakeholders stewardship theory strategic strategy involvement tion trust types value chain value creation variables various actors various board tasks