Corporate Governance: A Synthesis of Theory, Research, and Practice / Edition 1

Corporate Governance: A Synthesis of Theory, Research, and Practice / Edition 1

by H. Kent Baker, Robert W. Kolb
     
 

The importance of corporate governance became dramatically clear at the beginning of the twenty-first century as a series of corporate meltdowns from managerial fraud, misconduct, and negligence caused a massive loss of shareholder wealth. But despite the heightened attention on corporate governance practices, many questions still exist.

That is why Corporate

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Overview

The importance of corporate governance became dramatically clear at the beginning of the twenty-first century as a series of corporate meltdowns from managerial fraud, misconduct, and negligence caused a massive loss of shareholder wealth. But despite the heightened attention on corporate governance practices, many questions still exist.

That is why Corporate Governance, part of the Robert W. Kolb Series in Finance, is such a useful resource. Filled with in-depth insights and practical advice, this book provides a comprehensive synthesis of the numerous theoretical and practical issues that arise from the debate on how to govern effectively.

With coverage of the systems, processes, and procedures integral to the relationship between managers, majority shareholders, and minority shareholders, this book offers a clear view of current governance practices and carefully examines the mechanisms that mitigate the principal-agent conflict.

Written by an array of corporate governance experts, the contributed chapters of this book offer multiple perspectives and contain a series of discussion questions and answers to help reinforce key concepts. The book:

  • Presents a brief history of corporate governance, details the relationship between corporate governance and firm performance, and discusses the separation of ownership and control
  • Examines the various aspects of internal governance including the role of the board of directors, as well as reviews the importance of compensation, equity ownership structure, and turnover as internal control mechanisms
  • Explores numerous external governance devices from non-executive to non-equity shareholders,and addresses the role that accounting, legal, and regulatory intervention play in corporate governance

Engaging and informative, Corporate Governance will help anyone gain a better understanding of this multifaceted subject for academic or applied purposes. This book provides a useful guide to the most essential concepts and principles of corporate governance.

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Product Details

ISBN-13:
9780470499139
Publisher:
Wiley
Publication date:
10/05/2010
Series:
Robert W. Kolb Series, #8
Pages:
676
Product dimensions:
7.10(w) x 10.10(h) x 2.20(d)

Table of Contents

Acknowledgments.

PART ONE Background and Perspectives on CorporateGovernance.

History, Systems, Best Practices, and EmpiricalEvidence.

1 An Overview of Corporate Governance (H. Kent Baker andRonald Anderson).

2 The Financial Determinants of American Corporate Governance: ABrief History (Lawrence E. Mitchell and Dalia T.Mitchell).

3 Corporate Governance Systems (Christian Andres, AndreBetzer, Marc Goergen, and Daniel Metzger).

4 Corporate Governance Best Practices (Alex Todd).

5 What's Wrong with Corporate Governance Best Practices?(Christopher Søren Shann Turnbull).

6 The Effect of Corporate Governance on Performance (SanjaiBhagat, Brian Bolton, and Roberta Romano).

7 International Corporate Governance Research (Diane K.Denis).

Separation of Ownership and Control.

8 Agency Theory: Incomplete Contracting and Ownership Structure(Iain Clacher, David Hillier, and Patrick McColgan).

9 Theories and Models of Corporate Governance (Thomas W.Joo).

10 Unfettered Agents? The Role of Ethics in Corporate Governance(Donald Nordberg).

PART TWO Internal Governance.

Boards of Directors.

11 Board Composition and Organization Issues (MatteoTonello).

12 Board Diversity (Daniel Ferreira).

13 Board Subcommittees for Corporate Governance (ZabihollahRezaee).

Compensation, Ownership, and Turnover.

14 Executive Compensation: Incentives and Externalities(Philipp Geiler and Luc Renneboog).

15 Compensation Consultants and Executive Pay (Martin J.Conyon).

16 Corporate Governance and Ownership Structure (John J.McConnell, Stephen B. McKeon, and Wei Xu).

17 The Effects of Management Turnover on Firm Performance(Mark R. Huson and Robert Parrino).

PART THREE External Governance.

Nonexecutive Shareholders.

18 CorporateMonitoring by Blockholders (IsabelleDherment-Ferere and Luc Renneboog).

19 The Governance of Family Firms (Morten Bennedsen,Francisco Pèrez-Gonzàlez, and DanielWolfenzon).

20 Institutional and Other Shareholders (ChrisMallin).

21 The Politics of Shareholder Activism (DonaldNordberg).

Nonequity Stakeholders.

22 Executive Behavior: A Creditor Perspective on ManagerialOwnership (Ronald Anderson, Sattar Mansi, and DavidReeb).

23 Governance of Banking Institutions (Renee BirgitAdams).

24 Corporate Governance: Nonequity Stakeholders (MarcGoergen, Chris Brewster, and Geoffrey Wood).

Proxy Contests and Markets.

25 Proxy Contests (Peter G. Szilagyi).

26 Corporate Takeovers and Restructurings (MikeStegemoller).

27 Corporate Takeovers andWealth Creation (Marina Martynovaand Luc Renneboog).

Accounting, Legal, and RegulatoryIntervention.

28 Corporate Governance and Accountability (Renee M.Jones).

29 Corporate Governance Rules and Guidelines (ZabihollahRezaee).

30 Economics Aspects of Corporate Governance and Regulation(Valentina Bruno and Stijn Claessens).

PART FOUR Answers to Chapter Discussion Questions.

Index.

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