James S. Ang, Bank of America Eminent Scholar, Professor of Finance, College of Business, The Florida State University
Sudi Sudarsanam, Professor of Finance & Corporate Control, School of Management, Cranfield University
Ruud. A. I. van Frederikslust, Associate Professor of Finance, Rotterdam School of Management, Erasmus University Rotterdam. He joined Rotterdam School of Management as Associate Professor of Finance 1984 from the Inter-University Graduate School of Management, The Netherlands, where he was Associate Professor of Finance. He is author of the work Predictability of Corporate Failure (Kluwer Academic Publishers). And editor in chief of the volume of collection: Mergers & Acquisitions (in Dutch) and of the volume Corporate Restructuring and Recovery (in Dutch) (Reed Elsevier LexisNexis). He has participated in the organizations of leading conferences in Europe and the USA and presented there also numerous research papers at the conferences. He has published in leading journals like the Multinational Finance Journal and the Journal of Financial Transformation. He was a member of the Board of the European Finance Association.
James S. Ang, Bank of America Eminent Scholar, Professor of Finance, College of Business, Florida State University. He joined the College of Business, of Florida State University as a Professor of Finance in 1998 from Barnett Bank Chair Professor of Finance, Florida State University. His main areas of research interest are amongst others, in corporate restructuring, corporate governance and control. He has published extensively in leading academic journals like Journal of Corporate Finance, Journal of Financial Economics, Journal of Finance, The Bell Journal of Economics, Journal of Financial and Quantitative Analysis, Journal of Money, Credit and Banking, and The Review of Economics and Statistics. And he is a member (current and past) of the Editorial Board of several of these Journals. He is amongst others a member of the Board of Trustees of the Financial Management Association and formerly he was a member of the Board of Directors of the European Financial Management Association.
Sudi Sudarsanam, Professor of Finance & Corporate Control, School of Management, Cranfield University. He joined Cranfield as Professor of Finance and Corporate Control on the 1 January 2000 from City University Business School where he was Professor of Finance and Accounting. His original commercial background was in banking and international trade finance.
Sudi’s main areas of research interest are in corporate restructuring, mergers and acquisitions and corporate strategy, adopting a multidisciplinary approach. He is one of the leading authorities on mergers and acquisitions in Europe and author of The Essence of Mergers and Acquisitions (Prentice Hall), translated into five European and Asian languages. His recent book, Creating value from mergers and acquisitions: the challenges, an international and integrated perspective (FT Prentice Hall, 2003, pp613) has been widely acclaimed by both academics and practitioners and is considered a standard work on M & A. He has been a visiting professor at US and European business schools. He has been an expert commentator on mergers and acquisitions on radio and television and in the print media.
Sudi has also published articles in top US and European journals on corporate restructuring, corporate governance and valuation of intellectual assets.
Boards That Deliver gets beyond the rhetoric of corporate governance reform. It captures the tried-and-true practices used by high-performance boards. In contrast to experts who base prescriptions on number-crunching exercises, Charan identifies the real problems that drain directors' time and suppress their best judgmentsâ??and explains clearly and succinctly how boards can solve those problems. These battle-tested solutions help boards achieve what rules and regulations alone cannotâ??to get succession right, refine a winning strategy, and design a rational CEO compensation package.
Good governance requires leadership. Boards That Deliver is the no-nonsense guide for directors and CEOs who are rising to the leadership challenge to make their boards a competitive advantage.
This new edition builds on the Learning Board model developed by the author and now widely used internationally by corporations and public sector organisations such as the NHS. The result is a thought-provoking and highly practical book that will be invaluable to all those with responsibility for corporate governance - and also those who subject them to scrutiny.
What Sir Adrian Cadbury, whose committee's groundbreaking report on corporate governance was published nearly twenty years ago, said about the first edition remains as true today as ever:'No director can afford to ignore this book'.
Business and finance students, as well as executives with an interest in Asian business or corporate governance will find this an authoritative and insightful guide to this complex and important topic.
Offering a fresh look at the commonly accepted view of what constitutes good governance, Donald Nordberg explores the contexts of board decisions and draws upon his academic research and years of business and financial journalism in Europe, North America and Asia to provide a distinctive and pertinent contribution to the literature on corporate governance. The book:
- Features 21 detailed case studies, drawn from international examples, to prompt discussion and analysis
- Provides topical, up-to-date examples and evidence
- Gives attention to the important question "What next for Corporate Governance?"
Supporting features include: Case Study questions; "Agenda Point" boxes to provide further analysis and consideration on topical issues; Further readings; Companion Website, featuring online resources.
Visit the Companion Website at www.sagepub.co.uk/nordberg
`Wearing has written a superb and highly provocative book that does an excellent job of introducing students to theories of corporate governance and exposing complex fact situations in a clear and well-written manner' - The International Journal of Accounting
With in-depth analysis of nine different cases, several of which have influenced the codes and regulations of corporate behaviour in the UK and America, this book explores the relationship between governance practice and theory.
Each case gives readers the scope to analyze a typical situation, its outcomes, who the main actors were and how they behaved. The book underlines that there are sometimes conflicting views as to what `good' governance is. It will help students clarify their own ideas about why governance fails and what the possible solutions are. Helpful features include:
- Sound and complete coverage of related theory
- Chapter introductions
- A concluding chapter that draws together key strands of thinking
- Discussion questions
This book will be of interest to higher level undergraduates and MSc/MBA students taking courses in corporate governance or related subjects.
In light of corporate malfeasance in recent years, the governance of corporations has been receiving great attention from regulators, researchers, shareholders, and directors themselves. Based on Richard Leblanc's in-depth five-year study of 39 boards of directors of both for- and not-for-profit organizations, Building a Better Board goes behind the scenes to reveal the inner workings of boards of directors, including how they make decisions.
Recently chosen as one of Canada's "Top 40 Under 40"(TM), Dr Richard Leblanc is an award-winning teacher and researcher, certified management consultant, professional speaker, professor, lawyer and specialist on boards of directors. He can be reached at firstname.lastname@example.org. James Gillies, PhD (Toronto, Ontario, Canada), is Professor Emeritus at the Schulich School of Business, York University, where he serves as Chair of the Canada-Russia Corporate Governance Program.
Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook.Concentrates on underlying principles that change little, even as the empirical literature moves onHelps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forcesReviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
This collection offers a comprehensive assessment of research on the governance of nonprofit organizations. Nonprofit governance research has been dominated by the study of boards of unitary organizations and has paid insufficient attention to the multi-level nature of governance, governance relationships and dynamics, and the contribution of actors other than board members, to governance processes.
Drawing on the research of leading scholars in the US, UK, Canada and Australia, this book presents new perspectives on non-profit governance, which help to overcome these weaknesses. Written in an accessible manner the book will be of value to scholars, researchers, students, reflective practitioners and governance consultants and advisers.
Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics.
Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions.
Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.
Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations is a must-read exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. The book combines engaging anecdotes with industry research to illustrate the principles and methods of this complex strategy, and explains the reasoning behind seemingly incomprehensible activist maneuvers. Written by an active value investor, Deep Value provides an insider's perspective on shareholder activist strategies in a format accessible to both professional investors and laypeople.
The Deep Value investment philosophy as described by Graham initially identified targets by their discount to liquidation value. This approach was extremely effective, but those opportunities are few and far between in the modern market, forcing activists to adapt. Current activists assess value from a much broader palate, and exploit a much wider range of tools to achieve their goals. Deep Value enumerates and expands upon the resources and strategies available to value investors today, and describes how the economic climate is allowing value investing to re-emerge. Topics include:Target identification, and determining the most advantageous ends Strategies and tactics of effective activism Unseating management and fomenting change Eyeing conditions for the next M&A boom
Activist hedge funds have been quiet since the early 2000s, but economic conditions, shareholder sentiment, and available opportunities are creating a fertile environment for another golden age of activism. Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations provides the in-depth information investors need to get up to speed before getting left behind.
While the popular structure of the original text has been retained, significant changes have been made to take account of the global financial crisis, ever-changing regulations and worldwide governance developments. Key topics include:
The governance failures of international corporations such as Enron and Lehman Brothers
Diversity in corporate and institutional forms across the world
The role of international corporate governance standards
Digital disruption in capital markets and proposals for rebuilding commitment to long-term investing
The impact of financialization and corporate governance practices on increasing inequality
The links between corporate governance, corporate social responsibility and sustainability
This textbook contains a wealth of pedagogical material to guide the reader through this complex subject, including student questions to help with assessments, and a new companion website. There are also thirteen forensic case studies which scrutinize the governance failures seen at RBS, UBS, BP, Volkswagen and many other international corporations.
International Corporate Governancewill be an essential text for anybody studying corporate governance at the advanced undergraduate, master's or executive level.
The Handbook of Board Governance provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. Written by collaboration among subject matter experts, this book combines academic rigor and practitioner experience to provide thorough guidance and deep insight. From diversity, effectiveness, and responsibilities, to compensation, succession planning, and financial literacy, the topics are at once broad-ranging and highly relevant to current and aspiring directors. The coverage applies to governance at public companies, private and small or medium companies, state-owned enterprises, family owned organizations, and more, to ensure complete and clear guidance on a diverse range of issues. An all-star contributor list including Ram Charan, Bob Monks, Nell Minow, and Mark Nadler, among others, gives you the insight of thought leaders in the areas relevant to your organization.
A well-functioning board is essential to an organization’s achievement. Whether the goal is furthering a mission or dominating a market, the board’s composition, strategy, and practices are a determining factor in the organization’s ultimate success. This guide provides the information essential to building a board that works.Delve into the board’s strategic role in value creation Gain useful insight into compensation, risk, accountability, legal obligations Understand the many competencies required of an effective director Get up to speed on blind spots, trendspotting, and social media in the board room
The board is responsible for a vast and varied collection of duties, but the singular mission is to push the organization forward. Poor organization, one-sided composition, inefficient practices, and ineffective oversight detract from that mission, but all can be avoided. The Handbook of Board Governance provides practical guidance and expert insight relevant to board members across the spectrum.
This book is of relevance for a variety of readers, including graduate students, management scholars, policy-makers, and management consultants, as well as those that are concerned about how the economic system of competitive capitalism is now in a position where it is riddled by doubts and concern, not the least as the levels of economic inequality is soaring. It addresses the topics with regard to corporate governance, accounting and society and will be of interest to researchers, academics, students, and members of the general public that are concerned about the economic system of competitive capitalism.
Against this background, Corporate Governance in Action helps provide a framework for examining corporate governance through a focus provided by external pressures on large corporations. It also brings together the approach of economics and finance with theories in organization studies, such as aspects of resource dependency theory. This framework takes into consideration not only the market relations of modern corporations but also their dependence on regulators and different kind of scrutinizers.
This thoughtful book is a complete research guide that provides a new understanding and applicable framework for advanced students, academics and researchers in the area of corporate governance and the related disciplines.
board leadership and structure,
board task performance
corporate entrepreneurship and innovation
boards in small and medium-sized firms
board diversity and women directors
The book also presents the results of a research agenda about value-creating boards which was conducted throughout various European countries.
Corporate Governance Matters, Second Editionreviews the field's newest research on issues including compensation, CEO labor markets, board structure, succession, risk, international governance, reporting, audit, institutional and activist investors, governance ratings, and much more. Larcker and Tayan offer models and frameworks demonstrating how the components of governance fit together, with updated examples and scenarios illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to "get the story straight," and to provide useful tools for making better, more informed decisions.
This edition presents new or expanded coverage of key issues ranging from risk management and shareholder activism to alternative corporate governance structures. It also adds new examples, scenarios, and classroom elements, making this text even more useful in academic settings. For all directors, business leaders, public policymakers, investors, stakeholders, and MBA faculty and students concerned with effective corporate governance.
Internal aspects include ownership structure, the board of directors and committees, internal control, risk management, transparency and financial reporting. External aspects can either be market-oriented, or can take the form of credit ranking, and/or social requirements. Due to the original orientation of the Sarbanes/Oxley Law, concentrating solely on financial disclosure and given its decisive and tremendous influence on all other similar corporate governance legislations all over the world, most writings on corporate governance have dealt with solely internal corporate governance mechanisms. This book aim is to fill up the gap by using a systemic approach and giving a global picture of the corporate governance theoretical foundations, mainly by putting the emphasis on its double dimension: internal and external.