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Corporate Governance and Ethics: An Introduction
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Corporate governance has enjoyed a long tradition in the English-speaking world of management sciences since the 1990s. Following its traditional understanding, corporate governance is defined as leadership and control of a firm with the aim of securing the long-term survival and viability of that firm (cf. Shleifer and Vishny 1986, p. 462). But recent business scandals and financial crises continue to pro- vide ample cause for concern and have all fuelled interest in the ethical aspects. Since then, corporate governance has been criticized by many social groups. Some critics have demanded extensive management responsibility that would consider all stakeholder interests. In contrast, others appear to see the solution as a return to the economic core of corporate governance.
Despite innumerable written contributions on this issue, economic sciences have failed to provide a clear definition of the corporate governance concept or even to sufficiently demarcate the underlying context of consideration. However, given a tight economic interpretation of corporate governance, one could see it as regulation within the framework of the principal-agent relationship. But this is nothing but a shortened perspective. Corporate governance is much more com- plex and far from trivial. It picks up the traditional question regarding the primary goal of a corporation and discusses the strategic legitimation of stakeholders.
Alexander Brink - Personal Name
1st Edtion
978-94-007-1588-2
NONE
Corporate Governance and Ethics: An Introduction
Corporate Governance
English
Springer Dordrecht Heidelberg
2010
London • Thousand Oaks • New D
1-387
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