scholarly journals The budget constraint in the governance of organizations

2008 ◽  
Vol 5 (4) ◽  
pp. 219-232 ◽  
Author(s):  
Bruno Dallago
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Comparative Analysis ◽  
Institutional Environment ◽  
Partial Solution ◽  
Budget Constraint ◽  
Asset Specificity ◽  
Organizational Governance ◽  
Economic Organizations ◽  
Definition Of

The paper suggests a partial solution to the disjunction between the institutional environment and the institutions of governance by considering the budget constraint. This approach is put in the perspective of the comparative analysis of economic organizations as discrete structural alternatives. The budget constraint presents a whole range of alternative values that are distinct by different transaction costs that organizations meet. Following different values of budget constraint, bounded rationality and opportunism are allocated to alternative uses and asset specificity takes different forms. This approach requires that the discriminating alignment solution considers the prevailing value of the budget constraint, which opens the need for a comparative perspective on efficacious organizational governance. A second level of governance is corporate governance. The debate over corporate governance is centered around decision-making power and the existence of quasi-rents that organizations produce. Given different values of the budget constraint, the definition of what are efficacious systems of decision-making power and appropriation of quasi-rents are distinct in the shareholder value and the stakeholder interest paradigms

The Records Management as a Valuable Asset for Corporate Governance

2021 ◽  
pp. 17-34
Author(s):  
Manuela Moro-Cabero ◽  
Tatiana Costa Rosa
Keyword(s):  
Corporate Governance ◽  
Comparative Analysis ◽  
Descriptive Analysis ◽  
Records Management ◽  
Critical Factors ◽  
Basic Principles ◽  
Organizational Governance ◽  
Management Standards ◽  
System Increase ◽  
Close Relationship

The main goal of this study is to demonstrate how a management records system increase the level of organizational governance. It also shows how corporate governance interacts with record managers. With that purpose, a descriptive analysis of a qualitative, exploratory, and facetted nature is carried out based on literature and records management standards, with emphasis on the standard ISO 30301:2019 edited on records management (RM). In addition, a comparative analysis of the principles and critical factors of governance is carried out in order to compare them and systematize relations with those of the MSR. As a result, the authors seek to identify the determining critical factors and relationships, both with the most prominent elements as components of governance, and with their basic principles: openness, participation, responsibility, efficiency, and consistency. The results of the study highlight the close relationship between them and show a greater presence in the ISO 30301 standard.

Thünen-Vorlesung: Unternehmensführung und ökonomische Rationalität

2003 ◽  
Vol 4 (3) ◽  
pp. 295-312 ◽  
Author(s):  
Herbert Hax
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Decision Theory ◽  
Organizational Context ◽  
Market Value ◽  
Normative Theory ◽  
Decision Makers ◽  
Individual Decision ◽  
Individual Decision Making ◽  
Definition Of

Abstract In a normative theory of decision making in the firm, limited cognitive capabilities of decision makers can be taken into account in different ways. If individual decision making alone is being considered, the concept of rationality must be defined in such a way that it is acceptable from the viewpoint of potential users of the theory. In an organizational context, normative theory deals primarily with the design of contracts; as far as the anticipation of the actual behaviour of contract partners is concerned an empirically valid descriptive decision theory is needed. A major problem which arises if one applies contract theory to problems of corporate governance is the definition of an adequate standard to evaluate the firm’s outcome periodically. Accounting profit and market value are two possible measures, but both have grave shortcomings.

Nongovernmental Organizational Governance and Corporate Governance: A Comparative Analysis

2007 ◽  
Vol 22 (1) ◽  
pp. 47-71
Author(s):  
Kim Jun Ki
Keyword(s):  
Corporate Governance ◽  
Good Governance ◽  
Agency Problem ◽  
Governance Structure ◽  
Community Services ◽  
Organizational Setting ◽  
Organizational Governance ◽  
Board Performance ◽  
Definition Of ◽  
And Control

In an organizational setting, the board members are the persons in whom power is entrusted by the principals to act as fiduciaries and to guide the organization. A main cause of concern originates from the elassical problem of the separation of ownership and control. Although agency theory, the dominant approach to research on corporate governance in particular, holds that the separation of ownership and control constitutes an efficient division of labor, there is widespread awareness that managers and boards may take actions that hurt principals or constituencies they are meant to serve. An agency problem can manifest in several ways. First, managers and boards exert insufficient effort while overcommitting themselves to external activities. Secon, they might reap private benefits in the form of perks. Last, they may take unnecessary risks by committing to mature projects. This basic agency problem suggests a possible definition of corporate governance and nongovernmental (organizational) governance as addressing both and adverse selection and a moral hazard problem. A good governance structure is then one that selects the most able managers and makes them accountable to relevant constituents. Moreover, strengthening board performance in NGOs and thus their governance structure is widely recognized as being a major requisite for the improvement of community services that NGOs provide.

scholarly journals Rationality as a Characteristic of Decision-Making Process: Comparative Analysis of Various Paradigm Approaches

2019 ◽  
Vol 29 (2) ◽  
pp. 289-296
Author(s):  
Irina Shavkunova
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Selection Process ◽  
Economic Behavior ◽  
Rational Behavior ◽  
Economic Decisions ◽  
Economic Choice ◽  
Economic Decision Making ◽  
Definition Of ◽  
Classical Economic

Classical economic theory traditionally considers the economic behavior of economic entities as rational, but modern studies convincingly prove the predominance of rather irrational motives in the process of making economic decisions. Within the framework of traditional economic analysis, which is based on the rationality postulate, it is difficult and often impossible to explain the behavior of subjects that demonstrate a clear departure from the principles of rational behavior. A detailed study of the problems of economic choice (economic decision-making), rational behavior of economic subjects, as well as the conditions and nature of deviations from the criteria of rationality is difficult within the framework of the methodology of a single social science. However, in modern scientific discourse there is no single interpretation of the category «rationality»; various social sciences consider the concept of rationality in different ways. Rationality as a scientific category is quite a multi-valued concept. All this actualizes a comparative analysis of different paradigm approaches to the definition of rationality as a characteristic of the selection process (decision-making).

scholarly journals Gender Wise Saudi Investors' Awareness of Corporate Governance Mechanism and Its Importance in Their Investment Decision Making – An Empirical Study

2018 ◽  
Vol 11 (3) ◽  
pp. 118 ◽  
Author(s):  
Rima Al-Sager ◽  
Durga Prasad Samontaray
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Investment Decision ◽  
Investment Decisions ◽  
Point Of View ◽  
Governance Mechanism ◽  
Board Committees ◽  
Investment Decision Making ◽  
Corporate Governance Mechanism ◽  
Definition Of

This paper discusses the gender wise investors' awareness of corporate governance concepts and its importance in their investment decision process. It also answers the two questions "do investors depend on information related to corporate governance to make their investment decisions?" and "are the mechanisms of corporate governance important to them?" Books, studies, and research articles are used to enrich this paper. A survey is used as a tool to investigate the opinion of male and female investors, about corporate governance concepts and its importance on investors' decision making process. The survey shows that investors do not have a clear definition of corporate governance but they believe that it is important from companies' point of view. Also, most of investors do not always depend on information or factors that related to corporate governance as a base for their investment decisions. Mainly, Saudi investors care about board committees, disclosure and transparency as mechanisms of corporate governance.

scholarly journals Toward Agricultural Intersectionality? Farm Intergenerational Transfer at the Fringe. A Comparative Analysis of the Urban-Influenced Ontario's Greenbelt, Canada and Toulouse InterSCoT, France

2022 ◽  
Vol 5 ◽  
Author(s):  
Mikaël Akimowicz ◽  
Karen Landman ◽  
Charilaos Képhaliacos ◽  
Harry Cummings
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Structural Change ◽  
Urban Areas ◽  
Institutional Environment ◽  
Investment Decision ◽  
Shared Vision ◽  
Intergenerational Transfer ◽  
Positive Role ◽  
Farm Model

Peri-urban agriculture can foster the resilience of metropolitan areas through the provision of local food and other multifunctional agricultural amenities and externalities. However, in peri-urban areas, farming is characterized by strong social uncertainties, which slow the intergenerational transfer of farm operations. In this article, we tackle the beliefs that underlie farmers' decision-making to identify planning opportunities that may support farm intergenerational transfers. The design of an institutionalist conceptual framework based on Keynesian uncertainty and Commonsian Futurity aims to analyze farmers' beliefs associated with farm intergenerational transfer dynamics. The dataset of this comparative analysis includes 41 interviews with farmers involved in animal, cash-crop, and horticulture farming in the urban-influenced Ontario's Greenbelt, Canada, and Toulouse InterSCoT, France, during which farmers designed a mental model of their investment decision-making. The results highlight the dominance of a capital-intensive farm model framed by a money-land-market nexus that slows farm structural change. The subsequent access inequalities, which are based on characteristics of farmers and their farm projects, support the idea of the existence of an agricultural intersectionality. The results also highlight the positive role of the institutional context; when farmers' beliefs are well-aligned with the beliefs that shape their institutional environment, the frictions that slow farm structural change in peri-urban areas are moderated by a shared vision of the future.

Convergence of Corporate Governance Models

2004 ◽  
pp. 129-140 ◽  
Author(s):  
M. Tretyakov
Keyword(s):  
Corporate Governance ◽  
Institutional Environment ◽  
Driving Forces ◽  
Commodity Markets ◽  
Legal Systems ◽  
National Institutions ◽  
Governance Models ◽  
Changing Role

The article focuses on the analysis of the process of convergence of outsider and insider models of corporate governance. Chief characteristics of basic and intermediate systems of corporate governance as well as the changing role of its main agents are under examination. Globalization of financial and commodity markets, convergence of legal systems, an open exchange of ideas and information are the driving forces of the convergence of basic systems of corporate governance. However the convergence does not imply the unification of institutional environment and national institutions of corporate governance.

A Unifying Principle for a Researcher Learning Safety: Reduce Uncertainty!

2018 ◽  
Author(s):  
Camilla Kao ◽  
Russell Furr
Keyword(s):  
Decision Making ◽  
Best Practices ◽  
Mission Statement ◽  
Safety Information ◽  
Health And Safety ◽  
Mission Statements ◽  
Definition Of ◽  
Physical And Chemical

Conveying safety information to researchers is challenging. A list of rules and best practices often is not remembered thoroughly even by individuals who want to remember everything. Researchers in science thinking according to principles: mathematical, physical, and chemical laws; biological paradigms. They use frameworks and logic, rather than memorization, to achieve the bulk of their work. Can safety be taught to researchers in a manner that matches with how they are trained to think? Is there a principle more defined than "Think safety!" that can help researchers make good decisions in situations that are complex, new, and demanding?<div><br></div><div>Effective trainings in other professions can arise from the use of a mission statement that participants internalize as a mental framework or model for future decision-making. We propose that mission statements incorporating the concept of <b>reducing uncertainty</b> could provide such a framework for learning safety. This essay briefly explains the definition of <b>uncertainty</b> in the context of health and safety, discusses the need for an individual to <b>personalize</b> a mission statement in order to internalize it, and connects the idea of <b>greater control</b> over a situation with less uncertainty with respect to safety. The principle of reducing uncertainty might also help <b>non-researchers</b> think about safety. People from all walks of life should be able to understand that more control over their situations provides more protection for them, their colleagues, and the environment.</div>

Bid rigging in public procurement market according to the decisions of the President of the Office of Competition and Consumer Protection

2018 ◽  
Vol 5 (2) ◽  
pp. 161
Author(s):  
Konrad RÓŻOWICZ
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Consumer Protection ◽  
Design Research ◽  
Public Procurement ◽  
Appeal Chamber ◽  
Interesting Issue ◽  
Market Control ◽  
The Public ◽  
Bid Rigging

Aim: In the practice of awarding public contracts, sometimes the behavior of market actors, instead of competing with other entities, are aimed at illegal cooperation, including bid rigging. The above shows that healthy competition is not possible without efficient market control. In public procurement market this control is, primarily, carried out by public procurement entities: the President of the Public Procurement Office (Prezes UZP) and the National Appeal Chamber (KIO), and furthermore by President od the Office of Competition (Prezes UOKiK) and Consumer Protection and the Court od Competition and Consumer Protection. and Consumer Protection (SOKiK). The interesting issue is how the activities of the President of Office of Competition and Consumer Protection targeted  to contend with bid rigging affects on the activities of President of the Public Procurement Office (Prezes UZP) or the National Appeal Chamber (KIO). Design / Research methods: analysis and comparison decisions/ judgment issued by the President of the Public Procurement Office, National Appeal Chamber, the President of  the Office of Competition and Consumer Protection and the Court of Competition and Consumer Protection. Conclusions: The analysis has shown that the existence of specificities in the activities of the decision-making bodies and the judgments examined. However, in keeping with the specificity of the forms and objectives of control, these entities should cooperate, to a greater extent than before. Expanding the scope of cooperation would make it possible to better contend with bid rigging without changing the competition protection model. The introduction of institutionalized instruments for cooperation between the authorities seems to be valuable in terms of system solutions. Value of the article: The main value of the article is the comparison of selectively selected decisions and judgments representative of the problem under consideration and their comparative analysis in order to achieve the research objectives. The article deals with issues relevant to both public procurement practitioners and the state bodies dealing with procurement matters.

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