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Advances in Corporate Governance: Comparative Perspectives (Hertie Governance Report),Used
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The governance of the modern corporation is broadly understood as the mechanisms, relations, and processes for balancing the interests of stakeholders. It spells out the rules and procedures for decisionmaking, accountability and transparency, and distributional rights. Corporate governance thus provides the framework in which corporate objectives are set, the means of attaining them, the kind of performance monitoring required, and by whom. In the aftermath of the global financial crisis and largescale corporate failures, the issue of corporate governance has repeatedly received the attention of policymakers and the wider public. Extending the study of corporate governance beyond that of listed corporations sheds new light on the overall performance of corporations in market economies. These include small to mediumsized corporations, nonprofit organisations and philanthropic foundations, public corporations and publicprivate partnerships, social enterprises and cooperatives, international organisations, and corporations in cyberspace. A decade after the massive failures in the governance of financial corporations, and with continued governance failures in other parts of the economy since then, this volume takes stock and asks: what has been the performance of corporate governance regimes, and have regulatory changes and corporate governance codes made a difference? What are the strengths and weaknesses of current corporate governance systems and codes? How do corporate forms differ in their governance performance, and what have been the experiences across countries? And, finally, what implications for understanding governance behaviour and for policymakers and regulators come to mind?
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