The State As A Shareholder
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State On Board
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Author : Nga Pham
language : en
Publisher: Springer Nature
Release Date : 2021-09-01
State On Board written by Nga Pham and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-01 with Political Science categories.
Research in this book focuses on the strategic behaviour of the State as a shareholder in businesses, and the implications it has for the other shareholder(s) and business performance. It investigates the institutional characteristics of State-linked and State-owned firms (SIEs & SOEs), in emerging markets using Vietnam as a case study with comparative analysis on China and selected ASEAN countries. In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”. Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.
The State As A Shareholder
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Author : Meshal Faraj
language : en
Publisher:
Release Date : 2019
The State As A Shareholder written by Meshal Faraj and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Different studies show that partially privatized firms outperform their private peers in Saudi Arabia. Ownership of Saudi government of publicly traded companies may be feasible economically, but legally creates a hard case. The literature of corporate governance is still unable to absorb the implications of government ownership. This study attempts to examine those implications and its impacts on jurisdictions featuring dual judicial legal systems (administrative and civil courts) through presenting Saudi Arabia case. The Saudi government adopts the single tier board structure. Under this structure, only shareholders are entitled to elect board of directors. When the government holds a controlling stake, its leverage over a firm's affairs is difficult to challenge. Shedding lights on the Saudi experiment with government ownership, this study attempts to answer two questions that result from government ownership: procedurally, which court will review the government's actions, the administrative court or commercial court? Substantially, what law will govern these actions? The available evidence on the performance of firms partly owned by the government emphasizes the efficiency of government ownership. This implies that when the government exercises its rights as a shareholder it acts in a business-like capacity. Therefore, this study finds that its actions would be reviewed by the Commercial Courts and the Companies Act (Saudi Corporate Law) applies to it. Although there is no lawsuits against the government as a shareholder supporting this conclusion, but analyzing current regulations and rules would draw this conclusion. Finally, this article sketches policy implications scrutinizing potential proposals aimed at eliminating the complications of state intervention in the stock market.
Comparative Corporate Governance
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Author : Klaus J. Hopt
language : en
Publisher: Oxford University Press
Release Date : 1998
Comparative Corporate Governance written by Klaus J. Hopt and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
"This book goes back to a symposium held at the Max Planck Institute for Foreign Private and Private International Law in Hamburg on May 15-17 1997"--P. [v].
Stakeholder Capitalism
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Author : Klaus Schwab
language : en
Publisher: John Wiley & Sons
Release Date : 2021-01-27
Stakeholder Capitalism written by Klaus Schwab and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-27 with Business & Economics categories.
Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.
Broadening The Ownership Of State Owned Enterprises A Comparison Of Governance Practices
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2016-02-04
Broadening The Ownership Of State Owned Enterprises A Comparison Of Governance Practices written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-04 with categories.
The State continues to remain an important shareholder in listed companies worldwide. This book provides fresh perspectives on the motivation to list state-owned enterprises (SOEs) and the process it entails.
Corporate Governance In The Common Law World
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Author : Christopher M. Bruner
language : en
Publisher: Cambridge University Press
Release Date : 2013-03-29
Corporate Governance In The Common Law World written by Christopher M. Bruner and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-29 with Business & Economics categories.
This book presents a new comparative theory to explain the divergence between governance systems of Australia, Canada, the United Kingdom, and the United States and explores the theory's ramifications for law and public policy. Bruner argues that regulatory structures affecting other stakeholders' interests - notably differing degrees of social welfare protection for employees - have decisively impacted the degree of political opposition to shareholder-centric policies across the common-law world.
The State As Controlling Shareholder In Chinese State Owned Enterprises
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Author : Jiangyu Wang
language : en
Publisher:
Release Date : 2018
The State As Controlling Shareholder In Chinese State Owned Enterprises written by Jiangyu Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This short paper discusses the recently promoted mixed-ownership reform (MOR) in light of the increasingly strengthened "Party-building" work in SOEs. It first briefly introduces the state of SOEs in China as well as the legal and political structures of corporate governance in SOEs. It then proceeds to examine the MOR and its implications, focusing on the recent controversial case of China Unicom's MOR. From this MOR case the paper advances the possibility for the emergence of a 'Consultative Corporate Governance' model in Chinese SOEs with mixed-ownership. The paper ends with questions and directions for future research.
Corporate Ownership And Management In Small Island Developing States
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Author : C Justin Robinson
language : en
Publisher:
Release Date : 2017
Corporate Ownership And Management In Small Island Developing States written by C Justin Robinson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper analyses the ownership structure of publicly listed corporations in seventeen Small Island Developing States. The paper identifies the ultimate controlling shareholders of these firms, the identity of these shareholders, whether or not ultimate shareholders are involved in management and how ultimate shareholders maintain control over firms. The study finds that the large majority of publicly listed firms in SIDS have a dominant shareholder, that dominant shareholder is typically a family or the state, the dominant shareholder is typically involved in management through Chairmanship or representation on the Board of Directors and the dominant shareholder maintains control through cash flow rights as distinct from devices such as pyramid type ownership structures and various classes of shares. These results suggest that the notion of diffuse shareholders and a separation between ownership and management, which forms the dominant paradigm in the fields of economics, finance and management, is not the norm in SIDS. The fact that there are dominant shareholders who are active in management suggests that theories based on notions of Principal Agent Conflict and Asymmetric Information may be incomplete explanations for corporate behaviour in SIDS. The results suggest that in SIDS Principal/Principal conflict may be a larger issue than the more commonly discussed Principal/Agent conflict that in SIDS and protecting the interests of minority shareholders may be the major corporate governance challenge, as distinct from aligning the interests of shareholders and managers.
Shareholders Duties
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Author : Hanne S. Birkmose
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2017-01-15
Shareholders Duties written by Hanne S. Birkmose and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-15 with Law categories.
It is often assumed that shareholders have rights, not duties. In recent years, however, this assumption has come under intense scrutiny in all aspects of company law and capital market law -legislation, the courts, soft law, and scholarship - and, in Europe especially, major changes are under way across a diverse spectrum all the way from revised contractual arrangements to mandatory statutory provisions. Such a shift has important implications for the fundamentals of European company law, and there is a need to examine shareholders' duties and to consider where this trend is taking shareholders and their stance in law. This focused collection of essays by twenty notable scholars addresses this complex subject from a highly informative and useful variety of perspectives. Examining shareholders' duties along three axes - types of investee companies, types of shareholders, and types of business situations - the essays deal with such topics and issues as the following: - shareholders' duties as reflections of the interests they are intended to safeguard; - shareholders' duties to society; - shareholders' disclosure obligations; - duties of parent companies; - institutional investor's fiduciary duty; - how regulatory duties constrain value-reducing forms of opportunism; - the state's continuing duties in the transformation of state-owned companies; - significant shareholders' duties in transactions with the company; and - powerful shareholders' duty not to abuse right. Examining the implications of this shift in discourse - how shareholders' duties are coming to the fore under the impetus of legislation, legal doctrine, case law, and enforcement strategies - as well as its ideological underpinnings, this book offers a comprehensive and in-depth consideration of this rapidly developing field. It will prove of inestimable value not only to policymakers and academics, but also to investors and practitioners committed to creating conditions favourable to sustainable economic growth and responsible business behaviour.
Governing The Good State Shareholder
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Author : Mikko Rajavuori
language : en
Publisher:
Release Date : 2017
Governing The Good State Shareholder written by Mikko Rajavuori and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
The newly revised Guidelines on Corporate Governance of State-Owned Enterprises (2015) by the OECD are fast emerging as a new regulatory paradigm for administration of State-owned enterprises and organization of State ownership function. This article analyses the Guidelines' policy prescriptions, governance strategies and integration into global governance. Noting that the instrument operates by governing shareholder's internal make-up, decision-making and objective-setting, the article argues that the Guidelines amount to a robust model for ideal State shareholder - the Good State Shareholder. Efficient, engaged and accountable, the Good State Shareholder emerges as a critical actor in the contemporary global economy where States continue to amass and command immense shareholder power. However, when juxtaposed with recent attempts by the UN to adopt State ownership as an instrument of human rights governance, the fault lines of the Good State Shareholder model, as well as emerging techniques of shareholder governance, are exposed.