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Female presence and involvement on boards improves firm
performance, transforms corporate governance and leads to the
transition towards more responsible business. Corporate boards are
essential bodies for governance and management and their efficiency
determines a company's performance. The board is a crucial element
of the corporate governance structure and its efficiency and
performance determines the success of the operation and monitoring
of the company. The board is viewed as the liaison between
providers of capital (shareholders) and managers who use this
capital to create value. The board role is to represent, formulate
and fulfill the interests and expectations of shareholders as the
owners of the companies. The discussion surrounding female
participation in business inevitably needs to refer to their
presence on corporate boards. It is also a reliable indicator of a
gender equality policy and advancement, adopted by countries and
companies. The book traces the logic behind the decision patterns
of female involvement in governance and management. In particular,
it identifies the patterns of women's presence on corporate boards,
with respect to theoretical and conceptual argumentation, policy
and regulatory implication, as well as practical adaptation. The
phenomenon of women on corporate boards is analyzed in the context
of different political, cultural and institutional environments
addressing challenges in both developed and emerging economies. The
role of female directors is viewed as one of the crucial aspects in
corporate governance, adding to the quality of control and
management.
Companies can no longer expect to engage in dubious or unethical
corporate behaviour without risking their reputation and damaging,
perhaps irrevocably, their market position. Irresponsible corporate
behavior not only deprives shareholders of long-term returns but
also ultimately imposes a cost on society as a whole. Sustainable
business is about ensuring that entities contribute toward positive
social, environmental, and economic outcomes. Bad business
behaviour is costly for stakeholders, for markets, for society, and
the economy alike. To ensure that a company behaves well, the
buy-in of the leadership team is crucial. The full commitment of
the board of directors, in conjunction with the senior managers of
the organization, is required if an organization is to be socially
responsible. In this sense, leadership does not reside with an
individual (the CEO) within the organization but with all of those
at the apex of corporate power and control. Effective change
management requires enlightened and capable leadership to instigate
and drive the process of embedding a sustainable and socially
responsible corporate philosophy and culture that supports good
business decision-making. A profound understanding of the
requirements of such a leadership process will help corporate
managers become highly effective change agents. Governance will be
the main driver of this change. For the economy and financial
markets to become sustainable and resilient, radical changes in
corporate leadership need to take place. Integrated reporting,
government regulation, and international standards will all be
important factors in bringing about this change. As well as
understanding the effects of corporate behavior on financial
markets, such an understanding is also now imperative in relation
to the social and environmental contexts.
Transforming Governance: New Values, New Systems in the New
Business Environment, edited by Maria Aluchna and GA1/4ler 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.
Around the world the focus is on the relationship between ethics
and governance codes and how widely this should be interpreted.
Sustainability has three main accepted dimensions: economic growth,
social responsibility, and environmental protection. It is a truly
multidimensional and multidisciplinary concept, and one which
directly affects the risks and opportunities for markets and
businesses. In three distinct parts, Sustainable Markets for
Sustainable Business explores the relationship between markets and
business and sustainable development, as well as issues such as
climate change, pollution, land degradation and biodiversity loss.
Firstly the authors, all experts from around the world, consider a
variety of theoretical issues concerned with sustainability in the
new environment. In Part Two the emphasis is on looking at these
issues in the market and business practice under various guises.
Although every chapter contains discussion and recommended
solutions, the final part specifically focuses on future
perspectives and the solution strategies for implementation of
sustainability measures. Throughout the book the authors address
the need for business and market sustainability reforms. The
world's markets have the potential to improve the lives of billions
in developing countries, reducing poverty and securing
environmental quality for future generations. Often they fail to
capture the full value of natural resources or promote the
interests of poor people. Therefore, an effective public policy
framework is required. Sustainable Markets for Sustainable Business
and future titles in the Finance, Governance and Sustainability
Series address this need.
Good governance is good PR, it is important in every sphere of
society, whether it be the corporate environment, the political, or
wider society. When resources are too limited to meet the minimum
expectations of the people, it is a good governance level that can
help to promote the welfare of society. Enlightened companies
recognise that there is a clear link between governance and
corporate social responsibility and make efforts to link the two.
Unfortunately this is too often no more than making a claim that
good governance is a part of their CSR policy as well as a part of
their relationship with shareholders. Corporate Governance and CSR
are significant issues in all parts of the world, huge amounts of
time and energy are devoted to its global interpretation. Most
analysis however is too simplistic to be helpful as it normally
resolves itself into simple dualities: rules based v principles
based or Anglo-Saxon v Continental. The editors of this book argue
that this is not helpful - that the reality is far more complex.
They show that Corporate Governance and CSR cannot be understood
without taking geographical, cultural and historical factors into
account. It is necessary, they say to understand the concerns of
people in different parts of the world. Therefore, by using a
wealth of case studies, theoretical models, and drawing on the
knowledge and perspective of experts from around the world, the
editors have produced this valuable book. Global Perspectives on
Corporate Governance and CSR discusses issues such as regional and
cultural similarities and differences, the contexts of differing
legal frameworks and governance codes, differences between large
companies and SMEs, governance in new environments (companies and
economies) versus stable environments, and the changing environment
affecting corporate social responsibility around the world. The
editors then synthesise this in a way that will be helpful to
business people as well as to academics.
Sustainability is normally considered to be about choices for the
future being limited by decisions made in the present, and is
frequently portrayed as concerning environmental issues alone. The
Durable Corporation rejects both of these notions to argue that
sustainability is a more complex concept that involves balancing
many factors. It explores the nature, value and role of
sustainability in business and maintains that resource utilization
must be based upon the twin pillars of equity and efficiency rather
than attempting to ensure that our choices in the future are not
reduced. The authors of The Durable Corporation propose a new model
of sustainability and a fresh approach to managing resources. They
extend this to the development of difference strategies for
achieving sustainability and an alternative approach to managing
for the future. These features make it essential reading for all
those with responsibility for the sustainability or durability of
the enterprises in which they are engaged or in the study of the
issues at stake.
The relationship between economic or social or political activity
and risk is widely recognised at a societal level, a market level
and a business level, and equally widely discussed. The
relationship between governance and risk at all of these levels is
equally widely recognised but much less widely discussed. But the
consequences of poor governance in this arena have been exposed to
all in the recent financial and economic crisis as financial
institutions and even countries have collapsed or come close to
collapsing. The relationship between governance and risk is
particularly important in the global environment in which we
operate and needs to be more fully discussed and theorised. This
book is designed to address important aspects of this topic and set
it within the context of the global business and societal
environment.
Around the world the focus is on the relationship between ethics
and governance codes and how widely this should be interpreted.
Sustainability has three main accepted dimensions: economic growth,
social responsibility, and environmental protection. It is a truly
multidimensional and multidisciplinary concept, and one which
directly affects the risks and opportunities for markets and
businesses. In three distinct parts, Sustainable Markets for
Sustainable Business explores the relationship between markets and
business and sustainable development, as well as issues such as
climate change, pollution, land degradation and biodiversity loss.
Firstly the authors, all experts from around the world, consider a
variety of theoretical issues concerned with sustainability in the
new environment. In Part Two the emphasis is on looking at these
issues in the market and business practice under various guises.
Although every chapter contains discussion and recommended
solutions, the final part specifically focuses on future
perspectives and the solution strategies for implementation of
sustainability measures. Throughout the book the authors address
the need for business and market sustainability reforms. The
world's markets have the potential to improve the lives of billions
in developing countries, reducing poverty and securing
environmental quality for future generations. Often they fail to
capture the full value of natural resources or promote the
interests of poor people. Therefore, an effective public policy
framework is required. Sustainable Markets for Sustainable Business
and future titles in the Finance, Governance and Sustainability
Series address this need.
This volume examines the word that's on everybody's lips in
business, in government and in society - sustainability. There are
of course many aspects of sustainability which might be considered
to reflect Brundtland's three pillars of economic, environmental
and social sustainability. Others of course have different
definitions which include such things as governance or supply chain
management. Nevertheless business has recognised the significance
of the concept and is responding by developing strategies to cope,
although some would say that this is little more than window
dressing. The debate continues however as to just what is meant by
the term sustainability as far as business is concerned and how can
this be achieved. This book is designed to address this debate and
set it within the context of the global business and societal
environment.
Governance is very much a current concern in the public interest.
The global economic recession, from which we are just emerging, has
highlighted failures in governance and regulation with much blame
being laid at the feet of regulators and demands for perpetrators
to be sanctioned accordingly. A key to managing the prevention of
future financial crisis is concerned with the recognition and
regulation of a truly global market for finance, trade, labour etc.
and accepting that there are different perspectives from different
parts of the world. Published in association with the Social
Responsibility Research Network, Volume 2 in this new and exciting
series recognises these issues and takes a global interdisciplinary
perspective to the matter of governance in the business
environment. Contributions range from the UK, Portugal and Belgium
to Brazil, Japan, China and Malaysia, and topics of investigation
include: governance and the management of global markets;
governance mechanisms of strategic alliances in the Japanese car
industry; multinational corporations and democratic governance;
market governance to governance in the market - a return to old
order; and a socio-legal framework for governance.
Companies can no longer expect to engage in dubious or unethical
corporate behaviour without risking their reputation and damaging,
perhaps irrevocably, their market position. Irresponsible corporate
behavior not only deprives shareholders of long-term returns but
also ultimately imposes a cost on society as a whole. Sustainable
business is about ensuring that entities contribute toward positive
social, environmental, and economic outcomes. Bad business
behaviour is costly for stakeholders, for markets, for society, and
the economy alike. To ensure that a company behaves well, the
buy-in of the leadership team is crucial. The full commitment of
the board of directors, in conjunction with the senior managers of
the organization, is required if an organization is to be socially
responsible. In this sense, leadership does not reside with an
individual (the CEO) within the organization but with all of those
at the apex of corporate power and control. Effective change
management requires enlightened and capable leadership to instigate
and drive the process of embedding a sustainable and socially
responsible corporate philosophy and culture that supports good
business decision-making. A profound understanding of the
requirements of such a leadership process will help corporate
managers become highly effective change agents. Governance will be
the main driver of this change. For the economy and financial
markets to become sustainable and resilient, radical changes in
corporate leadership need to take place. Integrated reporting,
government regulation, and international standards will all be
important factors in bringing about this change. As well as
understanding the effects of corporate behavior on financial
markets, such an understanding is also now imperative in relation
to the social and environmental contexts.
The current economic situation has highlighted deficiencies in
corporate governance while also showing the importance of
stakeholder relations. It has also raised the profile of the
debates regarding corporate social responsibility and shown the
inter-relationship with governance. And the two together are
essential for sustainable business. The social and environmental
contexts of business are generally considered to be as significant
as the economic and financial contexts and good governance will
address all of these aspects. The combination of these aspects
offers long term benefits for a firm, such as reducing risk and
attracting new investors, shareholders and more equity as well as
sustainable performance. Written by experts from all over the
world, A Handbook of Corporate Governance and Social Responsibility
is the most authoritative single-volume guide to the relationship
between good governance and social responsibility and the reality
of managing both. In addition to the theory and practice of
governance and CSR, the book includes case studies from large and
small organizations and NGOs to highlight examples of good and bad
practice, and to show international and cultural similarities and
differences while at the same time furthering the debate regarding
the relationship between good governance and social responsibility.
Transforming Governance: New Values, New Systems in the New
Business Environment, edited by Maria Aluchna and GA1/4ler 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.
Female presence and involvement on boards improves firm
performance, transforms corporate governance and leads to the
transition towards more responsible business. Corporate boards are
essential bodies for governance and management and their efficiency
determines a company's performance. The board is a crucial element
of the corporate governance structure and its efficiency and
performance determines the success of the operation and monitoring
of the company. The board is viewed as the liaison between
providers of capital (shareholders) and managers who use this
capital to create value. The board role is to represent, formulate
and fulfill the interests and expectations of shareholders as the
owners of the companies. The discussion surrounding female
participation in business inevitably needs to refer to their
presence on corporate boards. It is also a reliable indicator of a
gender equality policy and advancement, adopted by countries and
companies. The book traces the logic behind the decision patterns
of female involvement in governance and management. In particular,
it identifies the patterns of women's presence on corporate boards,
with respect to theoretical and conceptual argumentation, policy
and regulatory implication, as well as practical adaptation. The
phenomenon of women on corporate boards is analyzed in the context
of different political, cultural and institutional environments
addressing challenges in both developed and emerging economies. The
role of female directors is viewed as one of the crucial aspects in
corporate governance, adding to the quality of control and
management.
It is increasingly being accepted that there is a benefit to both
parties when a relationship is established between an NGO and a
company. Consequently a considerable number of strategic alliances
have been established. It must be accepted that such alliances are
not necessarily mutually beneficial but little research has been
undertaken to determine the factors which facilitate or mitigate
against such mutual benefit. Indeed it is only recently that such
relationship shave started to be examined at all. The contributions
in this volume seek to redress this by researching various aspects
of such relationships in order to arrive at some conclusions
regarding the potential benefits and pitfalls of such
relationships. The various contributors speak from different
perspectives and different locations around the world and have
different experiences and interpretations to offer. The results
therefore present a diverse but balanced picture of the potential
of any relationship between NGOs, companies and corporate social
responsibility.
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