scholarly journals The social construction of executive remuneration in the UK

Author(s):  
Stephen J. Perkins

Purpose The purpose of this paper is to reflect theoretically on a quarter-century of attempts to codify “best practice” standards related to oversight of and reporting on executive remuneration. Issues around the regulation of UK executive remuneration are analysed focussing on decision making by elite actors, informed by corporate governance codification artefacts and theoretical considerations inspired by notions of the social construction of reality. Design/methodology/approach Using documentary materials to trace evolution of executive remuneration regulation in the UK, consideration is given to the social antecedents of processes governing corporate board remuneration committee practices. The paper reconstructs the social construction of the UK Corporate Governance Code and draws on relevant theoretically inclined literature to help make sense of processes involved. Findings Shaping the problems, to be addressed as “legitimate problems”, is core to efforts intended to create “persuasive narratives” around how UK executive remuneration should be regulated. Research limitations/implications The paper sketches an agenda for subsequent empirical “field” investigation to assess the social antecedents of UK executive remuneration outcomes. Practical implications Offering an alternative way of thinking about executive reward and on-going controversy as to how it may be legitimately regulated, informed by contextual considerations. Originality/value A novel look at executive remuneration from a social construction of reality perspective. Adding value to public debate on organisational effectiveness at a time of warnings from luminaries such as the Bank of England governor about the adverse social impact of “stateless companies” and calls for action against unfairness in income distribution.

2016 ◽  
Vol 7 (3) ◽  
pp. 172-187 ◽  
Author(s):  
Niki Black

Purpose The purpose of this paper is to examine the contribution of small-scale, rural festivals to the social sustainability of their host communities. Small-scale, community originated festivals proliferate the rural landscape throughout the UK and yet despite this, festival research has focussed predominantly on large, urban events and on their economic impact (Wood, 2009; Gibson and Connell, 2011). This paper seeks to address the perceived research gap by examining these events through a lens of social sustainability. Design/methodology/approach The research uses a case study approach focussed on four festivals in Northumberland, UK. Individual interviews and focus groups were conducted with festival organisers, key figures and visitors. Following a constructivist grounded theory method four principle indicators were identified to determine festival contribution to community social sustainability. These indicators are: contribution to community pride and localness, enhancement of knowledge and understanding, contribution to the continuity of local culture and enablement of networks of connectivity. Findings The findings demonstrate the networks of connections which festivals enable between the culture, heritage and people (individuals and groups) of a place. By focussing on four indicators the paper shows the social impact of connections through the festival processes and content. The paper argues that small-scale festivals in rural locations can contribute to social sustainability if they demonstrate a balance of both consistency and innovation and accessibility and openness within the locale. Originality/value This paper addresses the gap in social impact research into rural festivals and presents an original approach to identify festival impact on community social sustainability.


2019 ◽  
Vol 15 (2) ◽  
pp. 171-185 ◽  
Author(s):  
Simona Fiandrino ◽  
Alain Devalle ◽  
Valter Cantino

PurposeThis paper aims to reconcile the conflicting understanding on the nexus between corporate governance (CG), corporate financial performance (CFP) and corporate social responsibility (CSR) by investigating how companies engage with CSR practices.Design/methodology/approachThe study carries out a multivariate linear regression analysis on a sample of 361 listed companies from five countries in Europe: France, Germany, Italy, Spain and the UK.FindingsCG mechanisms and CFP have an impact on CSR because they affect social and environmental practices strongly and significantly. Furthermore, the findings describe the capacity of CSR to influence both the CG structure and the CFP.Research limitations/implicationsThe present research limits the analysis on the social and environmental performance of companies that communicate their commitment to stakeholders without distinguishing between “greenwashing” companies that implement CSR to improve corporate reputation and those companies that pursue effective societal benefits, taking care of stakeholder relationships.Practical implicationsThe CSR approach can drive the CG structure and improve CFP if managers perceive the implementation of sustainable practices as an integrated process rather than a mere outcome.Originality/valueThis paper seeks to disentangle the nexus between CG, CFP and CSR, not yet precisely defined by scholars in the context of five countries in Europe.


2017 ◽  
Vol 16 (4) ◽  
pp. 176-185
Author(s):  
Steven Hirschler

Purpose The purpose of this paper is to explore the implications of EU citizens’ exposure to UK immigration practices currently operating on non-EU migrants in the wake of the Brexit referendum. Design/methodology/approach This paper draws on recent literature analysing the impact of immigration as a factor in voter decision making during the Brexit referendum. It challenges Hollifield’s (1992) concept of the “liberal paradox” through an analysis of private security firms’ roles in contributing towards the expansion of immigration control markets. The paper concludes with a review of migrant experiences within prisons, detention facilities and dispersed housing for asylum seekers. Findings The findings suggest that the abandonment of EU citizens’ freedom of movement into the UK will result in their exposure to a privatised immigration control regime that contributes to the commodification of immigrants at the expense of human welfare. Originality/value This paper provides a conceptual link between the role of immigration in the Brexit referendum and the implications of expanding the population of persons subject to immigration control to include EU immigrants. It draws on current debates about privatised social control markets to illuminate the social impact of valorising migrant bodies.


Author(s):  
Mihaela Kelemen ◽  
Lindsay Hamilton

Purpose The purpose of this paper is to provide new insights into the social impact of creative research methods. Design/methodology/approach Using the new methodology of cultural animation (CA), the authors highlight how knowledge can be co-produced between academics, community members and organisational practitioners. Drawing on the UK Connected Communities programme, the authors explore examples of immersive and performative techniques including arts and crafts, drama and poetry. Findings The authors showcase the practical and theoretical benefit of such exercises to generate impact and influence. Empirically, the authors demonstrate the potential of CA to bring together researchers and community members in useful partnerships that foster dialogical exchange. Theoretically, the authors extend and develop the value of American Pragmatism by highlighting how democratic, iterative and practical learning plays out through the materials, networks and processes of cultural animation. Social implications Exploration of the examples leads us to propose and explore impact as a form of legacy which captures the temporal, processual and performative nature of knowledge sharing and co-production. Originality/value The methodology of CA is innovative and has not been tested widely to date although, as the authors illustrate, it is particularly useful for encouraging interaction between academics and the wider world by developing and nurturing interactions and relationships. It carries potential to contribute new insights to the theorisation and lived experience of organisation.


2014 ◽  
Vol 5 (3) ◽  
pp. 198-218 ◽  
Author(s):  
Eliza Hixson

Purpose – This paper aims to explore the social impact that two events, the Adelaide Fringe Festival and the Clipsal 500, have on young residents (16-19 years old) of Adelaide. The purpose of this paper is to examine how young people participate in these events and how this affects their sense of involvement in the event and contributes to their identity development. Design/methodology/approach – A mixed methods approach was adopted in which focus groups and questionnaires were conducted with secondary school students. As an exploratory study, focus groups (n=24) were conducted in the first stage of the research. The results of the focus groups were used to develop a questionnaire that resulted in 226 useable responses. The final stage of the research explored one event in further depth in order to determine the influence of different participation levels. Findings – This study found that young people demonstrated more involvement in the Adelaide Fringe Festival and their identities were more influenced by this event. Further investigation of the Adelaide Fringe Festival also indicated that level of participation affects the social outcomes gained, with those participating to a greater degree achieving higher involvement and increased identity awareness. This is demonstrated through a model which aims to illustrate how an event impact an individual based on their role during the event. Originality/value – This paper applies two leisure concepts in order to analyse the impact of events. Activity involvement is a concept which examines the importance of the activity in the participant's life. Also of importance to young people is how activities contribute to their identities, especially because they are in a transitional period of their lives.


2017 ◽  
Vol 15 (3) ◽  
pp. 213-231
Author(s):  
Kiyoshi Murata ◽  
Yasunori Fukuta ◽  
Andrew A. Adams ◽  
Dang Ronghua

Purpose This study aims to investigate how Snowden’s revelations are viewed by young people in the People’s Republic of China (PRC) and Taiwan through questionnaire surveys of and follow-up interviews with university students in the two countries, taking into account the histories and current status of state surveillance in these countries and the current complicated and delicate cross-strait relationships. Design/methodology/approach Questionnaire surveys of 315 PRC and 111 Taiwanese university students (a majority studying in those places but a few studying abroad) and semi-structured follow-up interviews with 16 master’s course students from the PRC and one from Taiwan (all studying at Meiji University in Japan) were conducted, in addition to reviews of the literature on privacy and state surveillance in the PRC and Taiwan. The outcomes of the survey were statistically analysed and qualitative analyses of the interview results were also performed. Findings Youngsters living in the PRC had greater interest in and more knowledge about Snowden’s revelations than those living in Taiwan, and the revelations were positively evaluated in both countries as serving public interest. However, PRC students indicated they were less likely to emulate Snowden than those from Taiwan did. Originality/value This study is the first attempt to investigate the social impact of Snowden’s revelations on PRC and Taiwanese youngsters’ attitudes towards privacy and state surveillance as part of cross-cultural analyses between eight countries.


2018 ◽  
Vol 14 (4) ◽  
pp. 934-949
Author(s):  
Husna Siraji Nyambia ◽  
Hamdino Hamdan

Purpose This study extensively aims to investigate the effects of different aspects of corporate governance (CG) mechanism, including board size, executive directors’ shareholdings, Chief Executive Officer (CEO) duality, a family member as the CEO and/or chairperson of the board, independent directors in remuneration committee and number of board meeting, on executive directors’ remuneration in small firms listed on Bursa Malaysia (BM). Design/methodology/approach The sample of this study consists of 173 bottom-listed companies from Bursa Malaysia in Year 2010. The Year 2010 was chosen because the disclosure of remuneration committee activities and directors’ pay structure is required under the revised Malaysia Code of Corporate Governance, 2007. Furthermore, the period selected is after the global economic crisis (2008), which may have an effect on the remuneration structure in small firms. The ordinary least squares regression was used to estimate the relationship between remuneration as dependent variable and other independent variables. Findings A finding from this study reveals that there is a significant positive relationship between executive ownership and executive remuneration, and between board size and executive remuneration. The results provide evidence that the family members manipulate power and control remuneration in small firms. This indicates that the independent directors are not truly independent to monitor and control the firm activities, including minimizing the excessive remuneration. Research limitations/implications This study examines how the corporate governance (CG) affects remuneration among 173 small firms in Malaysia based on market capitalization, for one year, 2010. Hence, the results may not be generalizable to other periods or types of the companies. This shows the possibility of the absence of some additional variables in the research model and hence a limitation to the findings of the study. Although the study is being parsimonious in the choice of relevant variables, prior literature serves the guide in the selection of the used variables. This therefore gives room for future research using the potential omitted variables. Furthermore, the study focuses on total remuneration, such as fees, salaries, bonuses and benefits in kind, which makes aggregate directors’ remuneration. However, this study did not consider the remuneration related to stock options. Finally, this study only uses secondary data; hence, it could be interesting to use other instruments to collect data like a questionnaire to add more weight to the research. This study only uses one-year data; therefore, impact of changes between years cannot be analysed. Originality/value Results of the study provide evidence that the family members manipulate power and control remuneration in small firms. They reduce the effectiveness of non-executive directors because most of them are appointed by a family member and not socially responsible to their stakeholders.


2019 ◽  
Vol 8 (1) ◽  
pp. 95-108 ◽  
Author(s):  
Angel Belzunegui-Eraso ◽  
David Duenas-Cid ◽  
Inma Pastor-Gosálbez

Purpose Social action implemented by the Church via its affiliated entities, foundations and associations may be viewed as a uniform activity. In reality, however, several organizational profiles exist that depend on the origin of these organizations (lay or religious), the scope of their activities (local or general) and their dependence on resources (whether from public administration or civil society). The paper aims to discuss these issues. Design/methodology/approach In this paper, the authors examine this diversity based on a 2015 study of every Catholic Church social organization with headquarters in Catalonia. For the study, the authors conducted a detailed analysis of these organizations in order to determine their nature, scope and structure. The methodology combined questionnaire, interviews and non-participant observation. Findings The social actions of these organizations lead to interesting debates, such as those on: charity/assistentialism vs social justice; professionalization vs voluntarism; and personal autonomy vs functional dependence resulting from the action. This study also highlights how important it is that Church organizations carry out social actions to generate social welfare in the welfare states of southern European countries. Originality/value It is the first time that a study of the social impact of the church and its organizational implications in Spain has been made.


2016 ◽  
Vol 29 (8) ◽  
pp. 1270-1293 ◽  
Author(s):  
Philip Mark Linsley ◽  
Alexander Linsley ◽  
Matthias Beck ◽  
Simon Mollan

Purpose The purpose of this paper is to propose Neo-Durkheimian institutional theory, developed by the Durkheimian institutional theory, as developed by anthropologist Mary Douglas, as a suitable theory base for undertaking cross-cultural accounting research. The social theory provides a structure for examining within-country and cross-country actions and behaviours of different groups and communities. It avoids associating nations and cultures, instead contending any nation will comprise four different solidarities engaging in constant dialogues. Further, it is a dynamic theory able to take account of cultural change. Design/methodology/approach The paper establishes a case for using neo-Durkheimian institutional theory in cross-cultural accounting research by specifying the key components of the theory and addressing common criticisms. To illustrate how the theory might be utilised in the domain of accounting and finance research, a comparative interpretation of the different experiences of financialization in Germany and the UK is provided drawing on Douglas’s grid-group schema. Findings Neo-Durkheimian institutional theory is deemed sufficiently capable of interpreting the behaviours of different social groups and is not open to the same criticisms as Hofstede’s work. Differences in Douglasian cultural dialogues in the post-1945 history of Germany and the UK provide an explanation of the variations in the comparative experiences of financialization. Originality/value Neo-Durkheimian institutional theory has been used in a wide range of contexts; however, it has been little used in the context of accounting research. The adoption of the theory in future accounting research can redress a Hofstedian-bias in accounting research.


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