rethinking corporate governance in financial institutions routledge research in corporate law

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Rethinking Corporate Governance In Financial Institutions

Author : Demetra Arsalidou
ISBN : 9781134499199
Genre : Law
File Size : 23. 54 MB
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There are many deep-seated reasons for the current financial turmoil but a key factor has undoubtedly been the serious failings within the corporate governance practices of financial institutions. There have been shortcomings in the risk management and incentive structures; the boards’ supervision was at times weak; disclosure and accounting standards were in some cases inadequate; the institutional investors’ engagement with management was at times insufficient and, last but not least, the remuneration policies of many large institutions appeared inappropriate. This book will provide a critical overview and analysis of key corporate governance weaknesses, focusing primarily on three main areas: directors’ failure to understand complex company transactions; the poor remuneration practices of financial institutions; and, finally, the failure of institutional investors to sufficiently engage with management. The book, while largely focused on the UK, will also consider EU and Australian developments as well as offering a comparative angle looking at the corporate governance of financial institutions in the US.

Corporate Law And Financial Instability

Author : Andreas Kokkinis
ISBN : 9781351972772
Genre : Law
File Size : 52. 47 MB
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Virtually all large banks and other financial institutions in the UK and internationally are public limited liability companies whose shares are listed on one or several stock exchanges. As such, their corporate governance and, in particular, the incentives faced by their directors and senior managers are to a significant extent determined by corporate and securities law rules such as directors’ duties, directors’ liability in insolvency, takeover regulation, disclosure obligations, shareholder rights and rules on executive remuneration. At the same time, systemically important financial institutions in the UK are licensed, regulated and supervised by the Prudential Regulation Authority (PRA). This book explores the relationship between, on the one hand, the broader corporate law, corporate governance and securities law framework and, on the other, the prudential regulatory framework. Although the book’s main focus is on UK law, much of the policy argumentation is relevant globally and therefore appropriate international comparisons are drawn, and analysis of EU law and regulation is included. The book argues that the corporate law regime, which focuses on shareholder empowerment and profit maximisation, operates as an antithesis to prudential regulatory objectives thus undermining the safety and soundness of banks and other financial institutions by encouraging risky behaviour that may be in the best interests of their shareholders, but is clearly not in the public interest.

Shareholder Primacy And Corporate Governance

Author : Shuangge Wen
ISBN : 9781136019920
Genre : Law
File Size : 46. 75 MB
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Rising defaults in the financial market in 2007, the current widespread economic recession and debt crisis have added impetus to existing doubts about companies’ governance, and cast new light on future trends in shareholder-oriented corporate practice. Taking account of these developments in the field and realising the current need for changes in governance, this book offers a thorough exploration of the origins, recent changes and future development of the corporate objective—shareholder primacy. Legal and theoretical aspects are examined so as to provide a comprehensive and critical account of the practices reflecting shareholder primacy in the UK. In the wake of the financial crisis, this book investigates the direction of future policy, with particular attention to changes in governing rules and regulations and their implications for preserving the objective of shareholder primacy. It examines current UK and EU reform proposals calling for long-term and socially-responsible corporate performance, and the potential friction between proposed legal changes and commercial practices. This book will be useful to researchers and students of company law, and business and management studies.

Behavioural Risks In Corporate Governance

Author : Ngozi Vivian Okoye
ISBN : 9781317701408
Genre : Business & Economics
File Size : 68. 7 MB
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Recent cases of corporate failures, including the fixing of LIBOR rates and money laundering issues in the banking industry, highlight how behavioural issues on the part of company directors are significant contributory factors in corporate governance and the success or failure of companies. This book examines how personality and behavioural issues have contributed to major corporate failures, and how this risk may be managed. The book examines behavioural risks in corporate governance, and evaluates the extent to which risk management mechanisms have acknowledged various aspects of behaviour. Drawing from cases in the UK, the US and Australia and research in psychology and the behavioural sciences, Ngozi Vivian Okoye argues that current corporate governance mechanisms lack provision for identifying and managing personality risks, and suggests how constituent elements of behaviour should be engaged with when developing preventive mechanisms for corporate failures. Okoye presents a conceptual framework for identifying and managing personality risks, and explores how personality risk may be built into corporate governance regulation. The book will be of great use and interest to researchers and practitioners in business and company law, corporate governance, and critical management studies.

Rethinking Corporate Governance

Author : Alessio Pacces
ISBN : 9781135099411
Genre : Law
File Size : 45. 15 MB
Format : PDF
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The standard approach to the legal foundations of corporate governance is based on the view that corporate law promotes separation of ownership and control by protecting non-controlling shareholders from expropriation. This book takes a broader perspective by showing that investor protection is a necessary, but not sufficient, legal condition for the efficient separation of ownership and control. Supporting the control powers of managers or controlling shareholders is as important as protecting investors from the abuse of these powers. Rethinking Corporate Governance reappraises the existing framework for the economic analysis of corporate law based on three categories of private benefits of control. Some of these benefits are not necessarily bad for corporate governance. The areas of law mainly affecting private benefits of control – including the distribution of corporate powers, self-dealing, and takeover regulation – are analyzed in five jurisdictions, namely the US, the UK, Italy, Sweden, and the Netherlands. Not only does this approach to corporate law explain separation of ownership and control better than just investor protection; it also suggests that the law can improve the efficiency of corporate governance by allowing non-controlling shareholders to be less powerful.

Internal And External Aspects Of Corporate Governance

Author : Ahmed Naciri
ISBN : 9781135224226
Genre : Business & Economics
File Size : 66. 22 MB
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An effective system of corporate governance has both internal and external aspects that have to be sufficiently responsive if governance is to succeed. In this book, Ahmed Naciri examines these two core aspects or the latest buzzword in business and management theory. Internal aspects include ownership structure, the board of directors and committees, internal control, risk management, transparency and financial reporting. External aspects can either be market-oriented, or can take the form of credit ranking, and/or social requirements. Due to the original orientation of the Sarbanes/Oxley Law, concentrating solely on financial disclosure and given its decisive and tremendous influence on all other similar corporate governance legislations all over the world, most writings on corporate governance have dealt with solely internal corporate governance mechanisms. This book aim is to fill up the gap by using a systemic approach and giving a global picture of the corporate governance theoretical foundations, mainly by putting the emphasis on its double dimension: internal and external.

Rethinking Capitalism

Author : Rogene Buchholz
ISBN : 9781135841485
Genre : Business & Economics
File Size : 21. 59 MB
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Given the recent financial meltdown and continuing economic problems the country and the world are facing, Rethinking Capitalism is particularly relevant. With the government having bailed out banks and other financial institutions as well as automobile companies, and anger over the compensation and severance packages provided to the managers of failed institutions in light of growing inequalities and continued high unemployment in American society, many are wondering if self-interest driven free-market capitalism is still viable. While there is some support for more active government regulation of financial and other institutions, there is also significant opposition to such an approach as new political movements gain strength. Are there other alternatives to create a more responsible capitalism that serves the entire society? Rethinking Capitalism questions the individualistic assumptions of a capitalist society and offers a new way to understand capitalism that entails a new role for business based on community and responsibility. Using classical American Pragmatism as a philosophical framework for capitalism, Professor Buchholz analyzes the history of capitalistic thought and proposes that we recast management as a profession akin to law and medicine oriented toward serving the public rather than just maximization of shareholder wealth. Buchholz challenges the way we understand capitalism with its emphasis on the creation of economic wealth and growth to the exclusion of other important goals and champions a new approach to the creation of a more sustainable and responsible functioning of the capitalistic system, the corporate organization, and its management.

The Oxford Handbook Of Employment Relations

Author : Adrian Wilkinson
ISBN : 9780191651496
Genre : Business & Economics
File Size : 87. 80 MB
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There have been numerous accounts exploring the relationship between institutions and firm practices. However, much of this literature tends to be located into distinct theoretical-traditional 'silos', such as national business systems, social systems of production, regulation theory, or varieties of capitalism, with limited dialogue between different approaches to enhance understanding of institutional effects. Again, evaluations of the relationship between institutions and employment relations have tended to be of the broad-brushstroke nature, often founded on macro-data, and with only limited attention being accorded to internal diversity and details of actual practice. The Handbook aims to fill this gap by bringing together an assembly of comprehensive and high quality chapters to enable understanding of changes in employment relations since the early 1970s. Theoretically-based chapters attempt to link varieties of capitalism, business systems, and different modes of regulation to the specific practice of employment relations, and offer a truly comparative treatment of the subject, providing frameworks and empirical evidence for understanding trends in employment relations in different parts of the world. Most notably, the Handbook seeks to incorporate at a theoretical level regulationist accounts and recent work that link bounded internal systemic diversity with change, and, at an applied level, a greater emphasis on recent applied evidence, specifically dealing with the employment contract, its implementation, and related questions of work organization. It will be useful to academics and students of industrial relations, political economy, and management.

Rethinking Good Governance In Developing Economies

Author : André Ufer
ISBN : STANFORD:36105134504625
Genre : Political Science
File Size : 84. 48 MB
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Is "Good Governance" the key for sustainable development and poverty eradication? Careful analysis of economic history in Europe and East Asia shows that its theoretical foundations and explanations do not meet reality: While Good Governance might prepare poor countries to integrate themselves into global markets, they will not experience substantial growth and poverty reduction. Political realities in developing countries are complex, including diverse factions of competing patron-client networks. Hence, reform, instead of cutting states towards a perceived mirror image of Western democracies, should aim to build institutions that enable leaders to introduce changes that transform failing states into "developmental states."

Rhetorik Und Stilistik Rhetoric And Stylistics Halbband 1

Author : Ulla Fix
ISBN : 9783110211405
Genre : Language Arts & Disciplines
File Size : 69. 92 MB
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The series Handbooks of Linguistics and Communication Science is designed to illuminate a field which not only includes general linguistics and the study of linguistics as applied to specific languages, but also covers those more recent areas which have developed from the increasing body of research into the manifold forms of communicative action and interaction.

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