scholarly journals THE FUTURE OF CORPORATE GOVERNANCE IN KNOWLEDGE-DISPERSED COMPANIES.

2017 ◽  
Vol 10 (17) ◽  
pp. 129
Author(s):  
Martin Krause

Corporate governance focuses its attention on the structure of the firm and the allocation of decision rights between owners and managers basically, plus other stakeholders. The field has developed extensively during the last decades inspiring reforms and practices as well as learning from them. Most of the analysis though takes into consideration the XXth Century firm, rightfully so since CG is a very practical field in the overlapping map of law, economics and finance. The firm has probably been one of the most successful institutional innovations of the last centuries. Five hundred years ago only a few of them existed, today they are pervasive. Nevertheless, we cannot expect the firm to be the same a hundred years from now as it is today. And if companies are going to be different, how will their corporate governance be affected? The present article does not expect to give an answer to such question. It only attempts to provoke debate and speculation about a possible evolution of the firm based on one single aspect of change: the increased use of dispersed knowledge. After suggesting some development and analyzing present innovations in that direction, we will open up to consideration how those potential changes may affect corporate governance. Of course, there are no specific conclusions, just a call to open our minds to future possible scenarios.

2017 ◽  
Vol 10 (17) ◽  
pp. 129-146
Author(s):  
Martin Krause

Corporate governance focuses its attention on the structure of the firm and the allocation of decision rights between owners and managers basically, plus other stakeholders. The field has developed extensively during the last decades inspiring reforms and practices as well as learning from them. Most of the analysis though takes into consideration the XXth Century firm, rightfully so since CG is a very practical field in the overlapping map of law, economics and finance. The firm has probably been one of the most successful institutional innovations of the last centuries. Five hundred years ago only a few of them existed, today they are pervasive. Nevertheless, we cannot expect the firm to be the same a hundred years from now as it is today. And if companies are going to be different, how will their corporate governance be affected? The present article does not expect to give an answer to such question. It only attempts to provoke debate and speculation about a possible evolution of the firm based on one single aspect of change: the increased use of dispersed knowledge. After suggesting some development and analyzing present innovations in that direction, we will open up to consideration how those potential changes may affect corporate governance. Of course, there are no specific conclusions, just a call to open our minds to future possible scenarios.


2007 ◽  
Vol 5 (1) ◽  
pp. 332-344
Author(s):  
María Gracia García-Soto ◽  
Francisca Rosa Álamo-Vera

When executives seek to satisfy their need for prestige and status through long-term strategic decisions that increase the size of the company -such as corporate diversification- but do not improve the firm’s performance, agency costs might appear. Thus, the current work aims to responding the following question: does the corporate governance of an organization influence its diversification strategy? Considering that most research to date has focused on the governance structure of large public limited companies, we considered it would be useful to centre our study on organizations lacking alienable property rights and with an allocation of decision rights decided by law -this is the case of the Spanish savings banks. The results obtained show that board size, number of meetings, and ROE are positively associated with diversification


2020 ◽  
pp. 301-323
Author(s):  
Natalya I. Kikilo ◽  

In the Macedonian literary language the analytic da-construction used in an independent clause has a wide range of possible modal meanings, the most common of which are imperative and optative. The present article offers a detailed analysis of the semantics and functions of the Macedonian optative da-construction based on fiction and journalistic texts. The first part of the article deals with the specificities of the optative as a category which primarily considers the subject of a wish. In accordance with the semantic characteristics of this category, optative constructions are used in those discourse text types where the speakers are explicitly designated (the most natural context for the optative is the dialogue). The analysis of the Macedonian material includes instances of atypical usage of the optative da-construction, in which the wish of the subject is not apparent and thereby produces new emotional tonalities perceptible to the reader of a fiction/journalistic text. The study describes Macedonian constructions involving two different verb forms: 1) present tense form (da + praes) and 2) imperfective form (da + impf). These constructions formally designate the hypothetical and counterfactual status of the optative situation, respectively. Thus, the examples in the analysis are ordered according to two types of constructions, which reflect the speaker’s view on the probability of the realisation of his/her wish. Unrealistic wishes can be communicated through the present da-construction, while the imperfective construction denotes situations in which the wish can be realised in the future. The second part of the article is devoted to performative optative da-constructions, which express formulas of speech etiquette, wishes and curses. The analysis demonstrates that these constructions lose their magical functions, when used outside of the ritual context, and begin to function as interjections.


2020 ◽  
Author(s):  
А.Б. Бритаева

В представленной статье на материале произведений Музафера Дзасохова известного современного осетинского писателя, поэта, публициста, переводчика, рассматриваются художественные особенности лирической прозы, а именно, автобиографической повести в осетинской детской литературе. Повесть Весенние звезды (1973) и ее продолжение На берегу Уршдона Барагун (1981) стали началом эпопеи о жизни отдельно взятой семьи, а на их примере всей страны в тяжелые послевоенные годы. В качестве одной из важнейших констант художественного мира писателя рассматривается образ детства. В ходе анализа особое внимание уделяется преобладанию нравственного аспекта, актуализации проблемы регулятивно-воспитательной функции национального этикета, ценностно-нормативных ориентиров осетинской ментальности. С опорой на биографический и историко-генетический методы, основное внимание в исследовании акцентируется на темах послевоенного детства, роли семьи и общества в формировании нравственных ориентиров, в становлении личности, образе матери, теме памяти, а также на художественном осмыслении этих проблем и тем в автобиографических повестях писателя. Типологически воплощение детской темы в творчестве М. Дзасохова во многом опирается на традицию изображения детства в русской автобиографической прозе XX в. В заключительной части сформулированы выводы, отражающие особенности лирической прозы в творчестве М. Дзасохова, обозначено место автобиографических повестей автора в контексте осетинской детской литературы второй половины XX века.Актуальность и научная новизна работы обусловлены недостаточной исследованностью истории и проблем осетинской детской литературы. Результаты исследования могут быть использованы при написании истории осетинской детской литературы. The present article examines the artistic features of lyrical prose, namely, autobiographical story in the Ossetian childrens literature in the works of Muzafer Dzasokhov, a well-known modern Ossetian writer, poet, publicist, translator. The story Spring Stars (1973) and its continuation - On the Bank of Ursdon Baragun ... (1981) marked the beginning of an epic about the life of a family, and via their fates the author shows life of the whole country in the difficult post-war years. The theme of childhood is considered as one of the most important constants of the writers artistic world. In the course of the analysis, special attention is paid to the predominance of the moral aspect, the actualization of the problem of the regulatory and educational function of national etiquette, the value and normative guidelines of the Ossetian mentality. The focus of the study is based on biographical and historical-genetic methods and highlights the themes of post-war childhood, the role of the family and society in the formation of moral guidelines, in the formation of personality, the image of the mother, the theme of memory, as well as on the artistic understanding of these problems and topics in autobiographical novels of the writer. Typologically, the embodiment of the childrens theme in the works of M. Dzasokhov is largely based on the tradition of depicting childhood in Russian autobiographical prose of the XXth century. The formulated conclusions in the final part reflect the peculiarities of lyrical prose in the works of M. Dzasokhov, the place of the authors autobiographical stories is indicated in the context of Ossetian childrens literature of the second half of the XXth century. The relevance and scientific novelty of the work are due to insufficient research on the history and problems of Ossetian childrens literature. The results of the study can be used in writing the history of Ossetian childrens literature.


2021 ◽  
pp. 65-66
Author(s):  
Soumi Chatterjee

Marriage is considered to be one of the most pious relations that exist in society. According to Hindu traditions, Marriage is a divine bond between two individuals which continues for many births thus, making the same an unbreakable bond. The present article will discuss the ideals of Hindu Marriage system in ancient India, the present societal norms with relation to Hindu marriage and how the present norms and laws are shaping the future of Hindu marriage system. This article is a doctrinal study and has been derived through various literary sources. The outcome of this study is that it brings out a clear understanding about the societal as well as the legal aspects of Hindu Marriage System.


2006 ◽  
Vol 14 (1) ◽  
pp. 33-48 ◽  
Author(s):  
R. C. VAN CAENEGEM

The unification of European law – if it is ever achieved – belongs to the future, but much of this present article will be devoted to the past. This makes me look like the ancient Roman king Janus, upon whom the god Saturn bestowed the gift of seeing the future as well as the past, which led to his famous representation, in his Roman temple, as a man with two faces. As a professional historian I am, of course, concerned with past centuries, but the future of Europe and European law concerns me as a citizen of the Old World.


2009 ◽  
Vol 7 (2) ◽  
pp. 387-394 ◽  
Author(s):  
Tom Mortimer

This article considers the traditional approach to the ’state’ Models of corporate governance, namely shareholder Model and stakeholder Model. It then considers the extent to which developments in a recent accession EU country, Poland, reflects either of these Models or adopts a hybrid approach. It then offers proposals for the future development of corporate governance within Poland.


2008 ◽  
Vol 6 (1-4) ◽  
pp. 424-432 ◽  
Author(s):  
Rodolfo Apreda

This paper sets forth a framework of analysis that links contractual, discretionary, regulatory and residual cash flows with decision rights over them. To attain this purpose, firstly we introduce the standard incremental cash flow model, underlying its main limitations. Secondly, we move on bringing to light cash flows to senior management and directors, as well as the so-often neglected investment portfolio. Next, we settle down to what we are going to call the compact cash flow model that comprises five building blocks, namely those arising out of assets, those addressed to owners, creditors, managers and directors, and lastly the company’s investment portfolio. Afterwards, contractual, discretionary, regulatory and residual cash flows are enlarged upon. Last of all, we focus on decision rights over every constituent of each building block. This issue carries weight in Corporate Governance since stakeholders who claim or exercise decision rights, also could trespass on the rules of the game, becoming better off to the expense and damage of other stakeholders.


2014 ◽  
Vol 11 (3) ◽  
pp. 369-380 ◽  
Author(s):  
Udo C. Braendle

The practice of joint-stock companies in Russia and other BRIC countries suggests that the development of the corporate sector and the stock market requires a corporate governance level of the companies that corresponds to international standards. The Russian Code of Corporate Conduct was implemented in 2002 and has not been revised for many years. The same is true for Codes of other BRIC countries. 2013 the situation has changed. Russia published a Draft Code of Corporate Governance that should reflect the changes in Russian Corporate Governance over the last 10 years. The paper critically analyses this draft code and gives implications about the future of corporate governance in Russia. We are doing so in comparing Russian Corporate Governance Initiatives with those of other BRIC countries.


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