About Book

Corporate governance is the combination of rules, processes or laws by which businesses are operated, regulated or controlled. The term encompasses the internal and external factors that affect the interests of a company’s stakeholders, including shareholders, customers, suppliers, government regulators and management. Specific processes that can be outlined in corporate governance include action plans, performance measurement, disclosure practices, executive compensation decisions, dividend policies, procedures for reconciling conflicts of interest and explicit or implicit contracts between the company and stakeholders. One purpose of corporate governance is to implement checks and balances system that minimizes conflicts of interest. Having a clean image on the corporate governance front could also make it easier for companies to source capital at more reasonable costs. Unfortunately, corporate governance often becomes the centre of discussion only after the exposure of a large scam. The book studies, analyses and upholds the pillars of corporate governance and its utmost significance in modern times. It explains in detail the concepts and procedures that have been established in this field. It explores various topics like management effectiveness, fair trade, corporate governance codes, economic transition, governance modelling, emerging markets and responsible behaviour of enterprises. The topics included in this book are of utmost significance and are bound to provide incredible insights to readers. Most of the topics introduced in this book cover new techniques and the applications of corporate governance. The book is appropriate for those seeking detailed information in this area.

Preface............................................................................................................v

Chapter 1 Corporate Governance and Financial Performance in the Emerging Markets: Do ADRs Perform any Better than Non-Cross-Listed Firms?.............................................................................................................1

Abstract ..................................................................................................1

1. Introduction............................................................................................2

2. Conceptual framework and hypotheses development..................3

3. Empirical study.....................................................................................8

4. Results...................................................................................................14

5. Conclusion............................................................................................21

Chapter 2 Governance Modeling: Dimensionality and Conjugacy.................28

Abstract.................................................................................................28

1. Introduction ........................................................................................29

2. Actors and competencies...................................................................30

3. Governance structure: dimensions and conjugacy.......................32

4. Governance complex: global to local indexes...............................34

5. Governance ideal types versus empirical types...........................36

6. The role of generalist organizations................................................39

7. Discussion.............................................................................................44

8. Conclusion............................................................................................46

Acknowledgements.............................................................................46

Chapter 3 Importance of Corporate Governance in Socially Responsible Behaviour of Enterprises.........................................................................51

Abstract.................................................................................................51

1. Theoretical background.....................................................................52

2. Data and methods...............................................................................56

3. Results...................................................................................................60

4. Conclusions..........................................................................................69

Chapter 4 Economic Transition and the Corporate Governance

Implementation.........................................................................................73

Abstract.................................................................................................73

1. Introduction..........................................................................................73

2. Economic transition and privatization in Slovakia......................75

3. National corporate governance code..............................................76

4. Evaluation of the corporate governance implementation and its

impact on economic results of corporations.................................82

5. Conclusion............................................................................................88

Acknowledgements.............................................................................89

Chapter 5 Corporate Governance.............................................................................93

Abstract.................................................................................................93

Chapter objectives...............................................................................93

Methodology........................................................................................94

1. Introduction..........................................................................................94

2. The nature of conflicts of interest....................................................95

3. Key corporate actors and their roles...............................................96

4. Principles of corporate governance.................................................97

5. Models of corporate governance......................................................99

6. Corporate governance in transitional economies.......................105

7. The evaluation of corporate governance......................................107

8. A corporate governance failure......................................................110

Chapter 6 Corporate Governance Codes and Their Role in Improving

Corporate Governance Practice............................................................115

Abstract........................................................................................................115

1. Introduction........................................................................................116

2. Theoretical background...................................................................118

3. Corporate governance codes in Slovenia.....................................131

4. Conclusions........................................................................................145

Acknowledgements...........................................................................149

Chapter 7 Corporate Governance and Fraud: Evolution and

Considerations.........................................................................................155

Abstract...............................................................................................155

1. Introduction........................................................................................155

2. Corporate governance origins........................................................158

3. From 1929 crisis up to 1970s..........................................................159

4. 1980s and 1990s: folly in organization level................................161

5. The 2000s crisis up to 2008: folly in financial services sector.170

6. The 2008s crisis: a different one.....................................................177

7. Corporate Governance after 2008 global crisis...........................180

Chapter 8 Globalization, Governance, Democratization and Fair Trade.....193

Abstract...............................................................................................193

1. Introduction........................................................................................193

2. Economics of fair trade....................................................................194

3. Fair trade terminology and present developments....................195

4. Globalization: from ‘free trade’ to ‘fair trade’............................197

5. Governance: from abstraction to the lending criteria................199

6. What will bring us there?...............................................................201

7. Conclusions........................................................................................203

Acknowledgements...........................................................................205

Chapter 9 Evaluating Management Effectiveness of National Parks as a

Contribution to Good Governance and Social Learning..............208

1. Introduction........................................................................................208

2. Overview of frameworks for evaluating management effectiveness

in protected areas..............................................................................210

3. Linking PA effectiveness evaluation with an economic-ecological

model of PA management, and governance and social

learning...............................................................................................215

4. Evaluating management effectiveness at Gesäuse national park

(Austria)...............................................................................................221

5. Discussion, summary and conclusions.........................................225

Acknowledgement ...........................................................................228

Citation......................................................................................................235

Index...........................................................................................................237

About Author

Cassandra Simons pursued her LLM in Corporate and Financial Law‎ from Public University of Portsmouth. She serves as a guest faculty for several universities across Europe. Her primary area of scholarly and research interests lies in the field of internal and external corporate governance controls and financial reporting. She is a veteran in the field of corporate governance with numerous revolutionizing texts, articles and research papers to her credit. Simons also won "Distinguished Scholar Award" for her research on this field.