Reversing competition: the case of corporate governance

Competition ◽  
2021 ◽  
pp. 189-201
Author(s):  
Fabien Foureault
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Private Equity ◽  
Middle Managers ◽  
Moral Economy ◽  
The Great Recession ◽  
Top Managers ◽  
Near Future ◽  
Operating Units

This chapter tries to identify the conditions under which a fourth party can tame competition in order to achieve cooperation. It relies on an in-depth case study of a multinational corporation acquired by a private equity firm through leveraged buy-out during the 2000s. It is shown that the private equity firm wanted to foster collaboration among competing operating units to increase firm performance but that it failed, despite the interest of many middle managers. The main reason was that top managers of these operating units, facing the great recession, strategically impeded cooperation because they thought that the private equity firm could break up the corporation in the near future, a belief inscribed in the ‘moral economy’ of managerialism. It is concluded that competition may be more easily reversed in firms with different types of owners or in other sectors where self-interested behaviour is less institutionalized.

Corporate governance and corporate social responsibility interface: a case study of private equity

2020 ◽  
Vol 20 (4) ◽  
pp. 703-717 ◽  
Author(s):  
Virgo Süsi ◽  
Krista Jaakson
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Private Equity ◽  
Resource Dependence Theory ◽  
Medium Size ◽  
Content Type ◽  
Corporate Social

Purpose This paper aims to explore why private equity (PE) cares about corporate social responsibility (CSR) of its investees given their relatively short investment time-horizon and how it designs corporate governance (CG) bundle to achieve both financial and CSR goals of the private firms it invests in. Design/methodology/approach Case study design is applied to get deeper insights on the why and how questions posed. Analysis is based on triangulation of secondary data and in-depth interviews with both PE and their investee firms. Findings The authors find that long-term sustainability supported by CSR increases firm value. They also outline specific CG bundle that the PE uses to achieve both its financial and CSR goals. CG mechanisms appeared to reflect agency theory, but even more resource dependence theory. Practical implications The outlined CG bundle could be used as a template for all types of private firm owners to improve both financial and CSR performance of the firm. Originality/value The paper adds to fragmented area of CG and CSR interface. The authors specifically focus on several under-researched contexts of this interface: private small and medium size firms (SMEs), emerging markets and PE investors.

scholarly journals Corporate Governance and Firm Performance: A Case study of Karachi Stock Market

2011 ◽  
pp. 39-43 ◽  
Author(s):  
Humera Khatab ◽  
Maryam Masood ◽  
Khalid Zaman ◽  
Sundas Saleem ◽  
Bilal Saeed
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Stock Market

scholarly journals Participatory communication on internal social media – a dream or reality?

2018 ◽  
Vol 23 (4) ◽  
pp. 614-628 ◽  
Author(s):  
Vibeke Thøis Madsen
Keyword(s):  
Social Media ◽  
Middle Managers ◽  
Single Case ◽  
Content Type ◽  
Participatory Communication ◽  
Top Managers ◽  
Different Types ◽  
Multiple Case ◽  
Internal Social Media

Purpose The purpose of this paper is to explore whether internal social media (ISM) introduces a new kind of participatory communication within organizations that is capable of influencing and moving the organization. Design/methodology/approach The paper is based on two exploratory studies: a multiple case study in ten Danish organizations, and a single case study in a Danish bank. Findings The paper finds that different types of communication on ISM develop in different types of organizations. Participatory communication capable of changing the organization only develops when coworkers perceive that they have a license to critique. The paper, therefore, proposes to distinguish between three different types of communication arenas created by ISM: a quiet arena, a knowledge-sharing arena and a participatory communication arena. Research limitations/implications The research is exploratory and based on two Danish case studies and the perceptions of coworkers and social media coordinators. A deeper, summative analysis of ISM across more and various organizations in multiple countries has to confirm the findings. Originality/value The paper conceptualizes ISM as an interactive and dynamic communication arena, and proposes that the participatory communication on ISM is a co-constructed process among coworkers, middle managers and top managers.

scholarly journals Organizational identity: components and construction

Innovar ◽  
2020 ◽  
Vol 30 (78) ◽  
pp. 89-103
Author(s):  
Diego René Gonzales-Miranda
Keyword(s):  
Identity Construction ◽  
Organizational Identity ◽  
Middle Managers ◽  
Research Question ◽  
Construction Process ◽  
Case Study Method ◽  
Top Managers ◽  
The Social ◽  
Epistemological Basis

The objective of this research was to understand the identity construction process of the middle managers (MMs) of a Colombian multilatina. From the research question, i.e., what are the components involved in the identity construction process of MMs?, it was established that MMs are those individuals whose level in the organization is below top managers and above first-level supervisors. The theoretical framework used was organizational identity (OI). To this end, literature review focused on the discussion of research works whose epistemological basis considered OI as a process, not as an invariant or static element. The case study used a qualitative approach. Identity construction processes are made up of three categories: recognition, transcendence and security. The research was conducted under the case study method and targeted a relatively new organi­zation that is in an unfinished and immature process of adopting a specific OI. The components explain the process and make it possible to elucidate a new way of approaching it at the manage­ment level; at the same time, due to their clarity and understandability, they can be used for other studies, as well as for consultancies. Finally, the integration of concepts from the social sciences for conceptualization and analysis nourishes the dialog with the administrative field.  

Corporate Governance Ratings and Firm Performance

CFA Digest ◽  
2009 ◽  
Vol 39 (4) ◽  
pp. 16-18
Author(s):  
Frank T. Magiera
Keyword(s):  
Corporate Governance ◽  
Firm Performance
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