Economic Policies for Innovative Enterprises: Implementing Multi-Stakeholder Corporate Governance

2021 ◽  
pp. 048661342110266
Author(s):  
Lenore Palladino
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Social Life ◽  
Stakeholder Participation ◽  
The United States ◽  
Jel Classification ◽  
Fiduciary Duty ◽  
Shareholder Primacy ◽  
Innovative Enterprise ◽  
Multi Stakeholder

Large corporations dominate economic and social life in the United States and around the globe. The mainstream corporate governance ideology of “shareholder primacy” claims that the exclusive purpose of a corporation is to generate returns for shareholders, which means that governance decisions should be exclusively in their hands. However, shareholder primacy lacks a theory of how companies innovate, and instead focuses solely on allocation of corporate profits, misunderstanding the relationship of shareholders to the twenty-first-century corporation. The theory of the corporation as an innovative enterprise—engaged in productive innovation by producing higher-quality goods and services for lower unit costs—is an accurate way to understand what makes corporations successful producers. Stakeholder theory from progressive legal scholarship illustrates specific corporate governance institutions that can assist innovation, including fiduciary duty, stakeholder participation in decision making, and equity ownership. This article contributes to the growing literature refuting shareholder primacy by utilizing the theories of the innovative enterprise and multi-stakeholder governance to propose reshaping US corporate governance to better to serve innovation in production and a balance of power in distributional decision making. JEL classification: B50, D21, G30, G35, K22

scholarly journals Planning in Democratizing River Basins: The Case for a Co-Productive Model of Decision Making

Water ◽  
2019 ◽  
Vol 11 (12) ◽  
pp. 2480 ◽  
Author(s):  
Tira Foran ◽  
David Penton ◽  
Tarek Ketelsen ◽  
Emily Barbour ◽  
Nicola Grigg ◽  
...  
Keyword(s):  
Decision Making ◽  
River Basin ◽  
Stakeholder Participation ◽  
Effective Means ◽  
Integrated Water Resources Management ◽  
Resources Management ◽  
Process And Outcome ◽  
River Basin Planning ◽  
Multi Stakeholder ◽  
Political Economic

We reflect on methodologies to support integrated river basin planning for the Ayeyarwady Basin in Myanmar, and the Kamala Basin in Nepal, to which we contributed from 2017 to 2019. The principles of Integrated Water Resources Management have been promoted across states and regions with markedly different biophysical and political economic conditions. IWRM-based river basin planning is complex, resource intensive, and aspirational. It deserves scrutiny to improve process and outcome legitimacy. We focus on the value of co-production and deliberation in IWRM. Among our findings: (i) multi-stakeholder participation can be complicated by competition between actors for resources and legitimacy; (ii) despite such challenges, multi-stakeholder deliberative approaches can empower actors and can be an effective means for co-producing knowledge; (iii) tensions between (rational choice and co-productive) models of decision complicate participatory deliberative planning. Our experience suggests that a commitment to co-productive decision-making fosters socially legitimate IWRM outcomes.

Corporate Governance and Enterprise Governance

2019 ◽  
Author(s):  
Brett McDonnell
Keyword(s):  
Corporate Governance ◽  
Private Equity ◽  
Agency Problem ◽  
The United States ◽  
Fiduciary Duty ◽  
Minority Shareholders ◽  
Potential Conflict ◽  
Unique Problem ◽  
Special Cases ◽  
Enterprise Governance

Corporate governance includes legal, contractual, and market mechanisms that structure decision-making within business corporations. Most attention has focused on corporate governance in large U.S. public corporations with dispersed shareholding. The separation of ownership from control in those corporations creates a unique problem, as shareholders typically have weak individual incentive to monitor managers. Mechanisms that have been developed to address this agency problem include independent directors, fiduciary duty, securities law disclosure, executive compensation, various professional gatekeepers, the market for corporate control, and shareholder activism. In most countries outside the United States, there are few companies with dispersed shareholding. Instead, most companies have a controlling shareholder or group. These companies face a different agency problem, the possibility that controlling shareholders may use their power to gain at the expense of minority shareholders. Enterprise governance refers to mechanisms aimed at related agency problems that occur in closely held companies without publicly traded equity interests. Here too the agency problem typically encountered is the potential conflict between controllers and minority investors, with the added twist that share illiquidity removes an important protection for the minority. Closely held companies have adopted a variety of contractual mechanisms to address these concerns. Other than the important but special cases of venture capital and private equity fund investments, there is less empirical evidence on governance in closely held companies because information is generally much harder to find.

scholarly journals Corporate Governance and Financial Ratios Effect on Audit Report Lag

2020 ◽  
Vol 5 (1) ◽  
pp. 15-21
Author(s):  
Friska Firnanti ◽  
Arwina Karmudiandri
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Firm Size ◽  
Audit Committee ◽  
Stock Exchange ◽  
Jel Classification ◽  
Financial Ratios ◽  
Audit Report ◽  
Financial Ratio ◽  
Size Firm

Objective – the timeliness of financial statement submission becomes important in decision making. With the growing importance of timely financial statements for the relevance of decision making, an understanding of the determinants of audit report lag becomes necessary. This research intends to obtain empirical evidence that corporate governance through board and audit committee characteristics, specifically size, meetings, independence and expertise has an influence on audit report lag. Financial ratios through firm size, profitability and leverage are tested to determine their influence on audit report lag. Methodology/Technique – Hypothesis tests with multiple regression are used with non-financial firms listed on the Indonesian Stock Exchange between 2015 to 2017. This research uses purposive sampling with the result of 204 companies sampled and 612 data sets used in the model. Findings – The result of this research show that board size, board meetings, board independence, audit committee size, firm size and profitability all have an influence on audit report lag. Meanwhile, audit committee independence, audit committee expertise, and leverage have no influence on audit report lag. Type of Paper: Empirical Keywords: Board Characteristics; Audit Committee; Financial Ratio; Audit Report Lag. Reference to this paper should be made as follows: Firnanti, F; Karmudiandri, A; 2020. Corporate Governance and Financial Ratios Effect on Audit Report Lag, Acc. Fin. Review 5 (1): 15 – 21. https://doi.org/10.35609/afr.2020.5.1(2) JEL Classification: M40, M41, M49 _______________________________________________________________________________________

The United States and the Iranian Nuclear Programme

2018 ◽  
Author(s):  
Steven Hurst
Keyword(s):  
United States ◽  
Decision Making ◽  
Domestic Politics ◽  
The United States ◽  
Nixon Administration ◽  
Comprehensive Plan ◽  
The Us ◽  
Nuclear Issue ◽  
The Relationship

The United States, Iran and the Bomb provides the first comprehensive analysis of the US-Iranian nuclear relationship from its origins through to the signing of the Joint Comprehensive Plan of Action (JCPOA) in 2015. Starting with the Nixon administration in the 1970s, it analyses the policies of successive US administrations toward the Iranian nuclear programme. Emphasizing the centrality of domestic politics to decision-making on both sides, it offers both an explanation of the evolution of the relationship and a critique of successive US administrations' efforts to halt the Iranian nuclear programme, with neither coercive measures nor inducements effectively applied. The book further argues that factional politics inside Iran played a crucial role in Iranian nuclear decision-making and that American policy tended to reinforce the position of Iranian hardliners and undermine that of those who were prepared to compromise on the nuclear issue. In the final chapter it demonstrates how President Obama's alterations to American strategy, accompanied by shifts in Iranian domestic politics, finally brought about the signing of the JCPOA in 2015.

Latino Catholicism

2011 ◽  
Author(s):  
Timothy Matovina
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Catholic Church ◽  
Social Life ◽  
Social Issues ◽  
The United States ◽  
Societal Impact ◽  
Comprehensive Overview ◽  
Public Debates ◽  
The U.S

Most histories of Catholicism in the United States focus on the experience of Euro-American Catholics, whose views on social issues have dominated public debates. This book provides a comprehensive overview of the Latino Catholic experience in America from the sixteenth century to today, and offers the most in-depth examination to date of the important ways the U.S. Catholic Church, its evolving Latino majority, and American culture are mutually transforming one another. This book highlights the vital contributions of Latinos to American religious and social life, demonstrating in particular how their engagement with the U.S. cultural milieu is the most significant factor behind their ecclesial and societal impact.

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