Transforming Governance: New Values, New Systems in the New Business Environment

by Maria Aluchna, Güler Aras

Overview

Transforming Governance: New Values, New Systems in the New Business Environment, edited by Maria Aluchna and Güler Aras addresses the current state, as well as the development of corporate governance and its perceived tasks and functions, in response to the changing market and regulatory environment. Divided into three parts, the book firstly addresses the variety of theoretical approaches. The inefficiencies, scandals and crises as well as the significant shortcomings and current criticism of shareholder value provide a new setting and theoretical assumptions for the purpose and role of corporate governance in the economy and society. The second section of the book goes on to discuss the forces which lead to the changing corporate governance paradigm, as companies are expected to incorporate not only shareholders but also stakeholders expectations and report and improve upon social and environmental performance. The focus of this section is to present the impact of stakeholders, the requirement for corporate social responsibility and sustainability, as well as the increasing importance of women in management and their participation at corporate board level. Section Three contains corporate governance case studies within various organizational and institutional settings; including the case of family companies, social enterprises/benefit corporations, sustainable companies and emerging markets. The book's contributors comprise both researchers and business experts addressing both theoretical and practical dimensions.

Product Details

ISBN-13:	9781472452030
Publisher:	Ashgate Publishing Ltd
Publication date:	10/28/2015
Series:	Finance, Governance and Sustainability: Challenges to Theory and Practice
Sold by:	Barnes & Noble
Format:	eBook
File size:	4 MB

About the Author

Maria Aluchna is an associate professor at the Department of Management Theory, Warsaw School of Economics, Poland. She specializes in corporate governance, strategic management and corporate social responsibility. She teaches ’Corporate governance’, ’Transition in Central and Eastern Europe’ and ’Strategic management’. She was awarded the Deutscher Akademischer Austauchdienst (DAAD, 2001/2002) scholarship for a research stay at Universität Passau and the Polish-American Fulbright Commission scholarship at Columbia University (2002/2003). Güler Aras is a professor of Finance and Accounting at Yildiz Technical University, Istanbul, Turkey, and a Visiting Professor at Georgetown University McDonough School of Business. She is the founding director of the Center for Finance, Governance and Sustainability (CFGS) at YTU. She is the former Dean of the Faculty of Administrative and Economic Sciences and of the Graduate School. Her research focus is on financial economy and financial markets with particular emphasis on the relationship between sustainability, corporate governance, corporate social responsibility, and corporate financial performance. Professor Aras has published more than 20 books and has contributed over 250 articles to academic, business and professional journals and edited several book collections. Her most recent book, titled Sustainable Markets for Sustainable Business: A Global Perspective for Business and Financial Markets, was published by Gower in 2015.

Table of Contents

1. Preface

2. Introduction

3. Corporate governance theories: a synthesis

4. Corporate governance failures: an international perspective

5. The need for a new paradigm for corporate governance

6. The evolution of corporate governance mechanisms in emerging economies: the case of Turkey

7. Corporate governance and new tasks of the board

8. Corporate governance and the growing role of women in the boardroom

9. Family business governance: a review of the first experiences of Polish family firms

10. Private equity governance

11. Key features of the Russian model of corporate governance

12. Conclusion

Editorial Reviews

'Overall, the book provides a comprehensive overview of corporate governance and its evolution in developing countries; it is clearly written and avoids academic style, keeping references to a minimum. This makes it especially well-suited for finance or management master's students who are approaching corporate governance for the first time. In this setting, the instructor can use the book to introduce students to specific topics and also to provoke interesting class discussions. It can be also used by PhD students to gain a broad perspective of how the corporate governance issues are approached by different academic fields and to identify interesting problems and discrepancies that call for further research.'

María Gutiérrez Urtiaga, Universidad Carlos III de Madrid, Madrid, Spain

’Transforming Governance is not just another book discussing corporate governance. We already have too many of these! This incisive and well written work consisting of a number of chapters by experts who in the main have practical knowledge of what they address, under the editorship of Professors Maria Aluchna and Güler Aras succeeds in raising and developing issues which are timely and significant - particularly for those at the helm of governance. The book within admittedly a critical theoretical framework tests the fitness of past approaches to the promotion of good governance and advocates a more inclusive and ethical approach. The obligation on those who mind other people’s wealth to ensure effective implementation is a theme that runs through the discussion of governance as it is conceived and applied in a number of key Eastern European countries, including Turkey. Managements and those who advise them, including those in the academy, will find the multifaceted and multi-disciplined discussion of real and pertinent issues invaluable in discharging their own duties.’ Barry Rider OBE, Centre of Development Studies, University of Cambridge, UK ’This book makes an important contribution in deepening our understanding of how corporate governance continues to evolve across the world and why it matters. Much of the existing corporate governance work has focused on the Anglo-Saxon world. This book, in contrast, fills a significant void by providing a unique look inside the governance norms and practices of firms based in emerging markets as well as family owned businesses.’ Sandeep Dahiya, Georgetown University, USA ’Addressing the post-crisis reality, the book opens a new chapter on understanding the role of corporate governance, identifying its main inefficiencies and laying out directions for further development. Nine inspiring contributions delivered by an international team of authors based in the US, Europe, Asia and Australia picture the transfor

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