The New Corporate Governance in Theory and Practice

Nonfiction, Reference & Language, Law, Corporate, Ethics, Business & Finance, Finance & Investing, Corporate Finance
Cover of the book The New Corporate Governance in Theory and Practice by Stephen Bainbridge, Oxford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Stephen Bainbridge ISBN: 9780190450748
Publisher: Oxford University Press Publication: July 23, 2008
Imprint: Oxford University Press Language: English
Author: Stephen Bainbridge
ISBN: 9780190450748
Publisher: Oxford University Press
Publication: July 23, 2008
Imprint: Oxford University Press
Language: English

Forty years ago, managerialism dominated corporate governance. In both theory and practice, a team of senior managers ran the corporation with little or no interference from other stakeholders. Shareholders were essentially powerless and typically quiescent. Boards of directors were little more than rubber stamps. Today, the corporate governance landscape looks vastly different. The fall-out from the post-Enron scandal and implementation of the Sarbanes-Oxley Act have resulted in shareholder activism becoming more widespread, while many observers call for even greater empowerment. The notion that the board of directors is a mere pawn of top management is increasingly invalid, and as a result, modern boards of directors typically are smaller than their antecedents, meet more often, are more independent from management, own more stock, and have better access to information. The New Corporate Governance in Theory and Practice offers an interdisciplinary analysis of the emerging board-centered system of corporate governance. It draws on doctrinal legal analysis, behavioral economic insights into how individuals and groups make decisions, the work of new institutional economics on organizational structure, and management studies of corporate governance. Using those tools, Stephen Bainbridge traces the process by which this new corporate governance system emerged, and explores whether such changes are desirable or effective.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Forty years ago, managerialism dominated corporate governance. In both theory and practice, a team of senior managers ran the corporation with little or no interference from other stakeholders. Shareholders were essentially powerless and typically quiescent. Boards of directors were little more than rubber stamps. Today, the corporate governance landscape looks vastly different. The fall-out from the post-Enron scandal and implementation of the Sarbanes-Oxley Act have resulted in shareholder activism becoming more widespread, while many observers call for even greater empowerment. The notion that the board of directors is a mere pawn of top management is increasingly invalid, and as a result, modern boards of directors typically are smaller than their antecedents, meet more often, are more independent from management, own more stock, and have better access to information. The New Corporate Governance in Theory and Practice offers an interdisciplinary analysis of the emerging board-centered system of corporate governance. It draws on doctrinal legal analysis, behavioral economic insights into how individuals and groups make decisions, the work of new institutional economics on organizational structure, and management studies of corporate governance. Using those tools, Stephen Bainbridge traces the process by which this new corporate governance system emerged, and explores whether such changes are desirable or effective.

More books from Oxford University Press

Cover of the book The Shaping of the Modern Middle East by Stephen Bainbridge
Cover of the book Philosophy of Religion: Oxford Bibliographies Online Research Guide by Stephen Bainbridge
Cover of the book Epistemology of Religious Belief: Oxford Bibliographies Online Research Guide by Stephen Bainbridge
Cover of the book The Face of Britain by Stephen Bainbridge
Cover of the book Biomedical Optical Imaging by Stephen Bainbridge
Cover of the book Electromyography in Clinical Practice by Stephen Bainbridge
Cover of the book How the Laser Happened by Stephen Bainbridge
Cover of the book Stephen Jay Gould by Stephen Bainbridge
Cover of the book Restoring Layered Landscapes by Stephen Bainbridge
Cover of the book Defenders of the Unborn by Stephen Bainbridge
Cover of the book Foreign Affairs Federalism by Stephen Bainbridge
Cover of the book A House in the Sun by Stephen Bainbridge
Cover of the book American Routes by Stephen Bainbridge
Cover of the book Away Down South : A History of Southern Identity by Stephen Bainbridge
Cover of the book Democratization and Authoritarian Party Survival by Stephen Bainbridge
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy