Corporate Governance & Management eJournal最新文献_第3页

Examining Public Policy in Romania: Is It Transparent and Legitimated? 检视罗马尼亚的公共政策:是否透明和合法?

Corporate Governance & Management eJournal Pub Date : 2016-06-05 DOI: 10.2139/ssrn.2893881

T. Dogaru

引用次数: 1

Multivector Strategy vs Quantum Strategy by Apple Inc 苹果公司的多向量策略vs量子策略

Corporate Governance & Management eJournal Pub Date : 2015-12-23 DOI: 10.2139/SSRN.2707662

D. Ledenyov, Viktor O. Ledenyov

{"title":"Multivector Strategy vs Quantum Strategy by Apple Inc","authors":"D. Ledenyov, Viktor O. Ledenyov","doi":"10.2139/SSRN.2707662","DOIUrl":"https://doi.org/10.2139/SSRN.2707662","url":null,"abstract":"We propose that the quantum strategy can be considered as a most effective winning virtuous organizational strategy, allowing the board of directors to build a prosperous organization with the optimal business model in the economies of the scale and scopes at the time of the great opportunities and unexpected challenges by the globalization. We provide a concise definition on the quantum strategy: The organizational strategy, which can be derived with the use of the quantum strategy search algorithm by the interlocking interconnecting directors in the board of directors in the modern organization at the time of the global integration. We demonstrate that the quantum strategy search algorithm applies the quantum logic (the probabilistic logic) on the top of the inductive, deductive and abductive logics (the value based logics), aiming to create the most effective optimal winning virtuous organizational strategy by the interlocking interconnecting directors in the board of directors in the modern organization in the information century. We highlight the main existing differences between the multivector strategy (the multiple different strategies implementation at the selected time period) and the quantum strategy (the most effective optimal winning virtuous organizational strategy implementation at the selected time period), considering the real-life case study on the strategy formulation and execution by the interlocking interconnecting directors in the board of directors in the Apple Inc. We express a research opinion that the quantum strategy can be clearly defined/distinguished in line with the generally accepted scientific definitions/meanings/ principles in the quantum mechanics science. We think that the prosperous organizations will create and implement the quantum strategies to increase their valuations and outperform the competitors in the economies of the scales and scopes at the time of globalization.","PeriodicalId":347848,"journal":{"name":"Corporate Governance & Management eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125468296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Materiality of Human Capital to Corporate Financial Performance 人力资本对企业财务绩效的重要性

Corporate Governance & Management eJournal Pub Date : 2015-05-12 DOI: 10.2139/ssrn.2605640

Aaron S. Bernstein, L. Beeferman

{"title":"The Materiality of Human Capital to Corporate Financial Performance","authors":"Aaron S. Bernstein, L. Beeferman","doi":"10.2139/ssrn.2605640","DOIUrl":"https://doi.org/10.2139/ssrn.2605640","url":null,"abstract":"Institutional investors have become increasingly interested in analyzing long-term investment risks and rewards posed by environmental, social and governance (ESG) factors. A growing body of data and analytical tools has been developed to assist in the task, but the focus has largely been on environmental and governance matters. This paper helps fill in the gap on social factors, specifically those involving how companies manage workplace relationships, a topic often referred to broadly as human capital or human resource (HR) management. We examine both a wide range of HR policies and separately those that relate directly to employee training.Our survey of the literature on human capital found 92 empirical studies that examined the relationship between HR polices and financial outcomes such as return on equity, return on investment and profit margins. We conclude that there is sufficient evidence of human capital materiality to financial performance to warrant inclusion in standard investment analysis. However, we also find that doing so remains a challenge for a number of reasons. These range from the fact that companies do not provide investors with comparable data to a lack of consensus over which combinations of policies have the most impact on financial outcomes.","PeriodicalId":347848,"journal":{"name":"Corporate Governance & Management eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134216453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

CEO Succession in the UK: An Analysis of the Effect of Censuring the CEO-to-Chair Move in the Combined Code on Corporate Governance 2003 英国首席执行官的继任:对2003年《公司治理联合准则》中对首席执行官转为董事长的批评效果的分析

Corporate Governance & Management eJournal Pub Date : 2015-02-23 DOI: 10.2139/ssrn.2342535

E. Dedman

{"title":"CEO Succession in the UK: An Analysis of the Effect of Censuring the CEO-to-Chair Move in the Combined Code on Corporate Governance 2003","authors":"E. Dedman","doi":"10.2139/ssrn.2342535","DOIUrl":"https://doi.org/10.2139/ssrn.2342535","url":null,"abstract":"In 2003, a new UK corporate governance Code recommended that the CEO should not become chairman of the same firm. The UK regulator, adopting an agency theory perspective, argued that this prevents powerful CEOs from clinging to power, to the detriment of firm performance. An alternative viewpoint, offered by stewardship theory, proposes that managers are inherently motivated to act in the best interests of the company and such controls are unnecessary, bringing no benefits to shareholders. This study therefore asks: (i) Does allowing the CEO to remain as chair damage firm performance? (ii) Did the changes to recommended best practice affect the number of CEOs remaining as chairman? (iii) Did the Combined Code (2003) affect the use of relay-style succession in the UK? Analysing a sample of 225 CEO routine departure events from 1996 to 2007 produces the answers: (i) this practice caused no apparent harm to accounting or stock market performance; (ii) there was a significant reduction in the practice in the period following the reform; and (iii) while UK firms were employing relay-style succession practices prior to the reforms, this has since abated. Overall, the evidence fails to support the agency view adopted by UK regulators.","PeriodicalId":347848,"journal":{"name":"Corporate Governance & Management eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128107964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 12

Estimating Management Practice Complementarity between Decentralization and Performance Pay 评价分权与绩效薪酬管理实践的互补性

Corporate Governance & Management eJournal Pub Date : 2015-01-01 DOI: 10.3386/W20845

Bryan Hong, Lorenz Kueng, Mu-Jeung Yang

{"title":"Estimating Management Practice Complementarity between Decentralization and Performance Pay","authors":"Bryan Hong, Lorenz Kueng, Mu-Jeung Yang","doi":"10.3386/W20845","DOIUrl":"https://doi.org/10.3386/W20845","url":null,"abstract":"The existence of complementarity across management practices has been proposed as one potential explanation for the persistence of firm-level productivity differences. However, thus far no conclusive population-level tests of the complementary joint adoption of management practices have been conducted. Using unique detailed data on internal organization, occupational composition, and firm performance for a nationally representative sample of firms in the Canadian economy, we exploit regional variation in income tax progression as an instrument for the adoption of performance pay. We find systematic evidence for the complementarity of performance pay and decentralization of decision-making from principals to employees. Furthermore, in response to the adoption of performance pay, we find a concentration of decision-making at the level of managerial employees, as opposed to a general movement towards more decentralization throughout the organization. Finally, we find that adoption of performance pay is related to other types of organizational restructuring, such as greater use of outsourcing, Total Quality Management, re-engineering, and a reduction in the number of layers in the hierarchy.","PeriodicalId":347848,"journal":{"name":"Corporate Governance & Management eJournal","volume":"344 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115891236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

Corporate Governance Structures in International Business Compared: Case Study of GDF SUEZ (France) and Williams (USA) 跨国企业中的公司治理结构比较——以法国燃气苏伊士集团和美国威廉姆斯集团为例

Corporate Governance & Management eJournal Pub Date : 2014-09-03 DOI: 10.2139/SSRN.2843369

Akshay Singh

引用次数: 0

Special Legal Instruments for Placement of Shares in the Course of a Joint-Stock Company Reorganization: 'Stock Conversion Procedure' 股份公司重组过程中配售股份的特殊法律文书:“股份转换程序”

Corporate Governance & Management eJournal Pub Date : 2014-04-16 DOI: 10.2139/ssrn.2425543

Andrei Glushetskiy, V. B. Minasyan

{"title":"Special Legal Instruments for Placement of Shares in the Course of a Joint-Stock Company Reorganization: 'Stock Conversion Procedure'","authors":"Andrei Glushetskiy, V. B. Minasyan","doi":"10.2139/ssrn.2425543","DOIUrl":"https://doi.org/10.2139/ssrn.2425543","url":null,"abstract":"We have analyzed the content and described the procedure of a special legal instrument used in course of issuable securities placement within the framework of reorganization, i.e. stocks conversion procedure. We have considered its influence on the equity capital structure of legal successors. We found out that stocks conversion procedure is a sequence of actions aimed at the determination of securities’ quantity to be issued to every shareholder in place of cancelled stocks of the legal predecessor using a specific stocks conversion ratio. Differences in the stocks conversion procedure are related to stocks conversion, as to whether every share shall be converted separately, or just a certain set of shares which shall be subject to conversion. We have described three types of candidate procedures aimed at determination of securities quantity to be placed to a shareholder while using the stocks conversion method. We formulated mathematical model for every algorithm. We analyzed the stocks conversion procedure under conditions of cross-shareholding by shareholders of a company under reorganization. The proposed method enables us to determine the real participation interest under the actual control of certain shareholders in the context of their indirect participation in equity capitals by virtue of other legal bodies. Nowadays, it is a very pressing problem to reveal the real dependence and affiliation of the participants in the economic turnover.","PeriodicalId":347848,"journal":{"name":"Corporate Governance & Management eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116161817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How Might Corporate Charters Be Amended to Enhance Investor Returns? 如何修改公司章程以提高投资者回报?

Corporate Governance & Management eJournal Pub Date : 2014-03-29 DOI: 10.2139/ssrn.2417843

S. Turnbull

{"title":"How Might Corporate Charters Be Amended to Enhance Investor Returns?","authors":"S. Turnbull","doi":"10.2139/ssrn.2417843","DOIUrl":"https://doi.org/10.2139/ssrn.2417843","url":null,"abstract":"The research question of this paper is how might investors enhance their returns by amending corporate constitutions and/or by-laws of investee corporations? Porter (1992) identified how European and Japanese firms obtained systemic competitive advantages over US firms because US firms lacked feedback, independently of management, from their stakeholders like customers, suppliers and employees and host communities on firm performance, risks and opportunities. Hippel (1986) identified customer feedback as a major source of innovative opportunities. Evidence of systemic risk of US corporations was provided by the US government commission of inquiry into the 2008 financial crisis that identified as a “key cause” the “dramatic failures of corporate governance and risk management”. Forensic research has since revealed that stakeholders who knew of risks were not connected to individuals with the incentive, power and capability to take corrective action. Stakeholder controlled firms illustrate how appropriate changes in corporate constitutions can introduce a requisite variety of private feedback connections with a diversity of stakeholders, independently of management, to directors and when required also to shareholders. The feedback can not only cross check the integrity of management information but also identify for directors and shareholders completeness of executive knowledge of the known known’s and known unknowns while also adding value with intelligence on the unknown unknowns. Shareholder participation is recommended for developing appropriate resolutions to amend constitutions of investee firms.","PeriodicalId":347848,"journal":{"name":"Corporate Governance & Management eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116361939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Towards Re-Theorizing the Firm in Pursuit of Well-Being and Social Justice 追求福利和社会正义的企业重新理论化

Corporate Governance & Management eJournal Pub Date : 2014-02-11 DOI: 10.1007/978-3-319-23081-8_9

G. Nathan

引用次数: 5

Leadership for Expansion, Growth and CSR Initiatives: The Case of Allcargo Logistics Limited 领导力的扩张、成长和企业社会责任倡议:以全货物流有限公司为例

Corporate Governance & Management eJournal Pub Date : 2013-12-31 DOI: 10.17493/NMR/2013/57291

G. Joshi, Rakesh R Shetty

引用次数: 0