{"product_id":"corporate-governance-and-accountability-isbn-9781119561200","title":"Corporate Governance and Accountability","description":"\u003cp\u003e\u003ci\u003eCorporate Governance and Accountability \u003c\/i\u003epresents students with a complete and current survey of the latest developments involving how a company is directed and controlled. Providing a broad research-based perspective, this comprehensive textbook examines global corporate governance systems, the role and responsibilities of the directorate, and the frameworks designed to ensure effective corporate accountability for stakeholders. A holistic approach to the subject enables students to develop a well-rounded knowledge of corporate governance theory and practice, policy documents, academic research, and current debates, issues, and trends.\u003c\/p\u003e \u003cp\u003eNow in its fifth edition, this comprehensive view of the corporate governance agenda features fully revised content that reflects new research and global developments in codes of practice and governance and accountability mechanisms. In-depth chapters contain numerous real-world case studies and compelling debate and discussion topics, exploring corporate transparency, social responsibility, boardroom diversity, shareholder activism, and many other timely issues.\u003c\/p\u003e \u003cp\u003ePreface vii\u003c\/p\u003e \u003cp\u003eAcknowledgements ix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1 Frameworks and Mechanisms 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Defining Corporate Governance 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 3\u003c\/p\u003e \u003cp\u003eWhat is Corporate Governance? 5\u003c\/p\u003e \u003cp\u003eTheoretical Frameworks 7\u003c\/p\u003e \u003cp\u003eAgency Theory 8\u003c\/p\u003e \u003cp\u003eTransaction Cost Theory 11\u003c\/p\u003e \u003cp\u003eTransaction Cost Theory Versus Agency Theory 12\u003c\/p\u003e \u003cp\u003eStakeholder Theory 13\u003c\/p\u003e \u003cp\u003eStakeholder Versus Agency Theory 15\u003c\/p\u003e \u003cp\u003eThe Enlightened Shareholder Versus the Stakeholder-Inclusive Approach 17\u003c\/p\u003e \u003cp\u003eInstitutional Theory 17\u003c\/p\u003e \u003cp\u003eThe Evolving Framework of Corporate Governance 18\u003c\/p\u003e \u003cp\u003eAcademic Research: The Frontiers of Corporate Governance Research 19\u003c\/p\u003e \u003cp\u003eChapter Summary 20\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 The Impact of Corporate Governance Weaknesses and Failure 22\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 22\u003c\/p\u003e \u003cp\u003eThe Collapse of Enron in 2001 23\u003c\/p\u003e \u003cp\u003eLaying the Foundations 23\u003c\/p\u003e \u003cp\u003eGlittering Success 23\u003c\/p\u003e \u003cp\u003eEarly Worries 24\u003c\/p\u003e \u003cp\u003eSigns of Distress 25\u003c\/p\u003e \u003cp\u003eThe Fall . . . and Fall . . . of Enron 25\u003c\/p\u003e \u003cp\u003eCreative Accounting at Enron and Its Impact on the Accounting Profession 26\u003c\/p\u003e \u003cp\u003eThe Aftermath 28\u003c\/p\u003e \u003cp\u003eThe Trial and the Human Dimension 29\u003c\/p\u003e \u003cp\u003eA Reflection on the Corporate Governance Problems in Enron 30\u003c\/p\u003e \u003cp\u003eThe Collapse of the World’s Banking Sector and Governance Failure: 2008 32\u003c\/p\u003e \u003cp\u003eLearning from the Crisis: Identifying Corporate Governance Failures 33\u003c\/p\u003e \u003cp\u003eThe Collapse of Carillion in 2018 35\u003c\/p\u003e \u003cp\u003eAn Overview of Carillion and its Activities 35\u003c\/p\u003e \u003cp\u003eCarillion Spent Zillions 35\u003c\/p\u003e \u003cp\u003eThe Road to Ruin 36\u003c\/p\u003e \u003cp\u003eFailure of the Board of Directors and a ‘Rotten Corporate Culture’ 36\u003c\/p\u003e \u003cp\u003eThrough a Glass Darkly: Lack of Transparency in Accounting and Auditing 37\u003c\/p\u003e \u003cp\u003eUnethical Treatment of Shareholders: Dividends as Impression Management? 37\u003c\/p\u003e \u003cp\u003eUnethical Treatment of Non-Shareholding Stakeholders 38\u003c\/p\u003e \u003cp\u003e‘Enrillion’: Similar Governance Weaknesses in the Two Corporate Collapses 39\u003c\/p\u003e \u003cp\u003eChapter Summary 39\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 40\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Corporate Governance Reform 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 41\u003c\/p\u003e \u003cp\u003en Illustration 3.1: The Maxwell Affair 1991 42\u003c\/p\u003e \u003cp\u003eThe Cadbury Report 1992 45\u003c\/p\u003e \u003cp\u003eThe Greenbury Report 1995 45\u003c\/p\u003e \u003cp\u003eThe Hampel Report 1998 46\u003c\/p\u003e \u003cp\u003eThe Turnbull Report 1999 48\u003c\/p\u003e \u003cp\u003eThe Higgs Report 2003 49\u003c\/p\u003e \u003cp\u003eThe Tyson Report 2003 49\u003c\/p\u003e \u003cp\u003eThe Smith Report 2003 50\u003c\/p\u003e \u003cp\u003eRevised Guidance on Audit Committees 2008 50\u003c\/p\u003e \u003cp\u003eRedraft of the Combined Code 2003, Revised 2006 50\u003c\/p\u003e \u003cp\u003eInternal Control: Revised Guidance for Directors on the Combined Code 2005 50\u003c\/p\u003e \u003cp\u003eFurther Revision of the Combined Code 2008 51\u003c\/p\u003e \u003cp\u003eTurner Review March 2009 51\u003c\/p\u003e \u003cp\u003eWalker Review July 2009 51\u003c\/p\u003e \u003cp\u003eThe Stewardship Code 2010 52\u003c\/p\u003e \u003cp\u003eCorporate Governance Code 2012 52\u003c\/p\u003e \u003cp\u003eThe Kay Review 53\u003c\/p\u003e \u003cp\u003eCorporate Governance Code 2016 and 2018 53\u003c\/p\u003e \u003cp\u003eCorporate Governance Consultations Following Recent Corporate Collapses 54\u003c\/p\u003e \u003cp\u003eThe Kingman Review and the End of the FRC: Introducing the Arga 54\u003c\/p\u003e \u003cp\u003eA Review 54\u003c\/p\u003e \u003cp\u003eComply or Explain 55\u003c\/p\u003e \u003cp\u003eApplying the Codes of Practice to Small Companies 55\u003c\/p\u003e \u003cp\u003eRanking Corporate Governance Initiatives 56\u003c\/p\u003e \u003cp\u003eWhy is Good Corporate Governance Important? 57\u003c\/p\u003e \u003cp\u003eCorporate Governance and Corporate Performance 57\u003c\/p\u003e \u003cp\u003eA Risk Perspective on Corporate Governance 59\u003c\/p\u003e \u003cp\u003eCorporate Governance Ratings, Indexes and Links with Financial Performance 59\u003c\/p\u003e \u003cp\u003eChapter Summary 60\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 60\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 The Role of Boards in Corporate Governance 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction: Enhancing Board Effectiveness 61\u003c\/p\u003e \u003cp\u003eUnitary and Two-Tier Board Structures 62\u003c\/p\u003e \u003cp\u003eSplitting the Role of Chairman and Chief Executive 62\u003c\/p\u003e \u003cp\u003eResearch into Split Roles 63\u003c\/p\u003e \u003cp\u003eThe Role of Non-Executive Directors in Corporate Governance 64\u003c\/p\u003e \u003cp\u003en Illustration 4.1: The Non-Executive Director Function in the Wake of the Financial Crisis 65\u003c\/p\u003e \u003cp\u003eResearch into the Role of Non-Executive Directors 70\u003c\/p\u003e \u003cp\u003eGetting the Balance Right 72\u003c\/p\u003e \u003cp\u003eWho Wants the Job Anyway? 73\u003c\/p\u003e \u003cp\u003eExecutive Remuneration 73\u003c\/p\u003e \u003cp\u003en Illustration 4.2: Executive Remuneration in Banks in the Wake of the Financial Crisis 74\u003c\/p\u003e \u003cp\u003en Illustration 4.3: Bankers Called to Account and Apologize 76\u003c\/p\u003e \u003cp\u003eThe High Pay Commission: Cheques with Balances 77\u003c\/p\u003e \u003cp\u003eAcademic Research into Executive Remuneration 77\u003c\/p\u003e \u003cp\u003eVoting on Directors’ Remuneration 79\u003c\/p\u003e \u003cp\u003en Illustration 4.4: Reforming Executive Pay: Establishing a Blueprint for Change 80\u003c\/p\u003e \u003cp\u003eDirectors’ Training 80\u003c\/p\u003e \u003cp\u003eWhat Else Can Contribute to Board Effectiveness? 81\u003c\/p\u003e \u003cp\u003eBoardroom Diversity 81\u003c\/p\u003e \u003cp\u003eBrave New Boardrooms? How Can Governance and Boards Be Reformed? 83\u003c\/p\u003e \u003cp\u003eAddressing the Ethical Health of Boards: Focusing on Boardroom Culture 84\u003c\/p\u003e \u003cp\u003en Illustration 4.5: Broadening Stakeholder Representation on Boards: A New Framework 85\u003c\/p\u003e \u003cp\u003eChapter Summary 86\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 87\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 The Role of Institutional Investors in Corporate Governance 88\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 88\u003c\/p\u003e \u003cp\u003eThe Ongoing Transformation of UK Institutional Ownership 89\u003c\/p\u003e \u003cp\u003eA Complex Web of Ownership 91\u003c\/p\u003e \u003cp\u003eWhat Do We Mean by Stewardship? 94\u003c\/p\u003e \u003cp\u003eThe Kay Review (2012) Principles and Recommendations 96\u003c\/p\u003e \u003cp\u003eConflict and Pension Fund Trustees 96\u003c\/p\u003e \u003cp\u003eThe Growth of Institutional Investor Activism 97\u003c\/p\u003e \u003cp\u003en Illustration 5.1: Trust Institutional Investment and the Kay Review 99\u003c\/p\u003e \u003cp\u003eInstitutional Investor Voting 100\u003c\/p\u003e \u003cp\u003eReviewing the Impediments to Voting Shares 101\u003c\/p\u003e \u003cp\u003eVoting on Remuneration Policy 102\u003c\/p\u003e \u003cp\u003en Illustration 5.2: Fat Cat Slim 102\u003c\/p\u003e \u003cp\u003eResearch into Voting by Institutional Investors 104\u003c\/p\u003e \u003cp\u003eInstitutional Investors: Engagement and Dialogue 106\u003c\/p\u003e \u003cp\u003en Illustration 5.3: Failure of Engagement in the Financial Crisis 108\u003c\/p\u003e \u003cp\u003eResearch into Engagement with Institutional Investors 110\u003c\/p\u003e \u003cp\u003eInstitutional Investor Engagement and Power 112\u003c\/p\u003e \u003cp\u003eFactors Affecting Shareholder Activism 112\u003c\/p\u003e \u003cp\u003eShareholder Activism and Financial Performance 113\u003c\/p\u003e \u003cp\u003eEmerging Trends in Research on Shareholder Activism 114\u003c\/p\u003e \u003cp\u003eChapter Summary 115\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 115\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 The Role of Transparency, Audit, Internal Control and Risk Management in Corporate Governance 116\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 116\u003c\/p\u003e \u003cp\u003eTransparency and Disclosure 117\u003c\/p\u003e \u003cp\u003eResearch into Disclosure and Corporate Governance 118\u003c\/p\u003e \u003cp\u003eImproving Transparency: Cutting Clutter? 119\u003c\/p\u003e \u003cp\u003eCorporate Disclosure and Executive Remuneration 119\u003c\/p\u003e \u003cp\u003eCorporate Disclosure and Non-Executive Directors 120\u003c\/p\u003e \u003cp\u003eDevelopments in Governance Reporting 120\u003c\/p\u003e \u003cp\u003eThe Role of Internal Control, Internal Audit, External Audit and Audit Committees in Effective Corporate Governance 123\u003c\/p\u003e \u003cp\u003eCorporate Governance and Risk in the Wake of the Financial Crisis 124\u003c\/p\u003e \u003cp\u003eTurnbull, Internal Control: A UK Perspective 125\u003c\/p\u003e \u003cp\u003eRisk and Risk Prioritization 125\u003c\/p\u003e \u003cp\u003eAn Existing Implicit Framework for Internal Control 126\u003c\/p\u003e \u003cp\u003eThe Turnbull Framework for Internal Control 126\u003c\/p\u003e \u003cp\u003eThe Revised Guidance on Internal Control 128\u003c\/p\u003e \u003cp\u003eRisk Disclosure and Corporate Governance 129\u003c\/p\u003e \u003cp\u003eAn ‘Ideal’ Framework for Corporate Risk Disclosure 129\u003c\/p\u003e \u003cp\u003eThe Revised Guidelines and Corporate Risk Disclosure 132\u003c\/p\u003e \u003cp\u003eRecent Research into Risk Disclosure 132\u003c\/p\u003e \u003cp\u003eThe Operating and Financial Review Fiasco 133\u003c\/p\u003e \u003cp\u003eSarbanes–Oxley and Internal Control: A US Perspective 134\u003c\/p\u003e \u003cp\u003eDodd–Frank Act 136\u003c\/p\u003e \u003cp\u003eSarbanes–Oxley 17 Years Later 136\u003c\/p\u003e \u003cp\u003eThe Role of Audit in Corporate Governance 136\u003c\/p\u003e \u003cp\u003eThe External Audit 136\u003c\/p\u003e \u003cp\u003eThe Audit Committee 139\u003c\/p\u003e \u003cp\u003eResearch into the Effectiveness of Audit Committees 140\u003c\/p\u003e \u003cp\u003eThe Internal Audit 141\u003c\/p\u003e \u003cp\u003eResearch into the Effectiveness of the Internal Audit Function 141\u003c\/p\u003e \u003cp\u003eChapter Summary 142\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 142\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2 Global Corporate Governance 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 An Introduction to Corporate Governance Systems Worldwide: Global Corporate Governance 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 145\u003c\/p\u003e \u003cp\u003eCategorizing Corporate Governance 145\u003c\/p\u003e \u003cp\u003eInsider-Dominated Systems 146\u003c\/p\u003e \u003cp\u003eOutsider-Dominated Systems 147\u003c\/p\u003e \u003cp\u003eFactors Influencing Corporate Governance in an International Context 148\u003c\/p\u003e \u003cp\u003eGlobal Convergence in Corporate Governance 151\u003c\/p\u003e \u003cp\u003eThe OECD Principles 152\u003c\/p\u003e \u003cp\u003eThe Revised OECD Principles 2004 153\u003c\/p\u003e \u003cp\u003eOECD Principles 2015 154\u003c\/p\u003e \u003cp\u003eThe European Union 154\u003c\/p\u003e \u003cp\u003eThe Commonwealth Guidelines 157\u003c\/p\u003e \u003cp\u003eCorporate Governance in the Middle East and North Africa 157\u003c\/p\u003e \u003cp\u003eAndean Corporate Governance Code 2004 157\u003c\/p\u003e \u003cp\u003eEthical Issues in International Corporate Governance: Controlling Bribery and Corruption 157\u003c\/p\u003e \u003cp\u003eThe Outcome of Corporate Governance Convergence 158\u003c\/p\u003e \u003cp\u003eCountry Studies 160\u003c\/p\u003e \u003cp\u003eChapter Summary 161\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 A Reference Dictionary of Corporate Governance Systems: Global Corporate Governance 162\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAlbania 162\u003c\/p\u003e \u003cp\u003eArgentina 162\u003c\/p\u003e \u003cp\u003eAustralia 163\u003c\/p\u003e \u003cp\u003eBahrain 163\u003c\/p\u003e \u003cp\u003eBangladesh 163\u003c\/p\u003e \u003cp\u003eBelgium 164\u003c\/p\u003e \u003cp\u003eBotswana 164\u003c\/p\u003e \u003cp\u003eBrazil 164\u003c\/p\u003e \u003cp\u003eCanada 164\u003c\/p\u003e \u003cp\u003eChile 165\u003c\/p\u003e \u003cp\u003eChina 166\u003c\/p\u003e \u003cp\u003eColombia 166\u003c\/p\u003e \u003cp\u003eCyprus 167\u003c\/p\u003e \u003cp\u003eCzech Republic 167\u003c\/p\u003e \u003cp\u003eDenmark 168\u003c\/p\u003e \u003cp\u003eEgypt 169\u003c\/p\u003e \u003cp\u003eEstonia 169\u003c\/p\u003e \u003cp\u003eFinland 169\u003c\/p\u003e \u003cp\u003eFrance 169\u003c\/p\u003e \u003cp\u003eGermany 170\u003c\/p\u003e \u003cp\u003eGhana 171\u003c\/p\u003e \u003cp\u003eGreece 171\u003c\/p\u003e \u003cp\u003eHong Kong 172\u003c\/p\u003e \u003cp\u003eHungary 172\u003c\/p\u003e \u003cp\u003eIceland 172\u003c\/p\u003e \u003cp\u003eIndia 173\u003c\/p\u003e \u003cp\u003eIndonesia 173\u003c\/p\u003e \u003cp\u003eIraq 174\u003c\/p\u003e \u003cp\u003eIreland 174\u003c\/p\u003e \u003cp\u003eItaly 174\u003c\/p\u003e \u003cp\u003eCase Study on Italian Governance: The ‘European Enron’: Parmalat 175\u003c\/p\u003e \u003cp\u003eCorporate Governance Failure in Parmalat 175\u003c\/p\u003e \u003cp\u003eJamaica 176\u003c\/p\u003e \u003cp\u003eJapan 176\u003c\/p\u003e \u003cp\u003eJordan 178\u003c\/p\u003e \u003cp\u003eKenya 178\u003c\/p\u003e \u003cp\u003eLatvia 178\u003c\/p\u003e \u003cp\u003eLebanon 178\u003c\/p\u003e \u003cp\u003eLibya 178\u003c\/p\u003e \u003cp\u003eLithuania 178\u003c\/p\u003e \u003cp\u003eLuxembourg 178\u003c\/p\u003e \u003cp\u003eMacedonia 178\u003c\/p\u003e \u003cp\u003eMalaysia 179\u003c\/p\u003e \u003cp\u003eThe Netherlands 179\u003c\/p\u003e \u003cp\u003eNew Zealand 180\u003c\/p\u003e \u003cp\u003eNigeria 180\u003c\/p\u003e \u003cp\u003eNorway 180\u003c\/p\u003e \u003cp\u003eOman 181\u003c\/p\u003e \u003cp\u003ePakistan 181\u003c\/p\u003e \u003cp\u003ePeru 181\u003c\/p\u003e \u003cp\u003eThe Philippines 181\u003c\/p\u003e \u003cp\u003ePoland 181\u003c\/p\u003e \u003cp\u003ePortugal 182\u003c\/p\u003e \u003cp\u003eQatar 182\u003c\/p\u003e \u003cp\u003eRomania 182\u003c\/p\u003e \u003cp\u003eRussia 182\u003c\/p\u003e \u003cp\u003eSaudi Arabia 183\u003c\/p\u003e \u003cp\u003eSingapore 184\u003c\/p\u003e \u003cp\u003eSlovakia 184\u003c\/p\u003e \u003cp\u003eSlovenia 184\u003c\/p\u003e \u003cp\u003eSouth Africa 184\u003c\/p\u003e \u003cp\u003eSouth Korea 185\u003c\/p\u003e \u003cp\u003en Illustration 8.1: The Influence of Culture on Corporate Governance 186\u003c\/p\u003e \u003cp\u003eSpain 186\u003c\/p\u003e \u003cp\u003eSri Lanka 187\u003c\/p\u003e \u003cp\u003eSweden 187\u003c\/p\u003e \u003cp\u003exx Contents\u003c\/p\u003e \u003cp\u003eSwitzerland 187\u003c\/p\u003e \u003cp\u003eTaiwan 187\u003c\/p\u003e \u003cp\u003eThailand 188\u003c\/p\u003e \u003cp\u003eTrinidad \u0026amp; Tobago 188\u003c\/p\u003e \u003cp\u003eTunisia 188\u003c\/p\u003e \u003cp\u003eTurkey 188\u003c\/p\u003e \u003cp\u003eUganda 189\u003c\/p\u003e \u003cp\u003eUkraine 189\u003c\/p\u003e \u003cp\u003eUnited States 189\u003c\/p\u003e \u003cp\u003eVenezuela 190\u003c\/p\u003e \u003cp\u003eVietnam 190\u003c\/p\u003e \u003cp\u003eChapter Summary 191\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 191\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3 Holistic Governance 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Corporate Governance and Stakeholder Accountability 195\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 195\u003c\/p\u003e \u003cp\u003en Illustration 9.1: The Risks Associated with Climate Change and Global Warming 196\u003c\/p\u003e \u003cp\u003en Illustration 9.2: Assessing the Impact of the UK Company Law Review 198\u003c\/p\u003e \u003cp\u003eEarly Roots of Corporate Social Responsibility in the UK 199\u003c\/p\u003e \u003cp\u003eFriedman and Corporate Social Responsibility 200\u003c\/p\u003e \u003cp\u003eDoes Corporate Social Responsibility Improve Financial Performance? 201\u003c\/p\u003e \u003cp\u003en Illustration 9.3: Enron and Ethics 201\u003c\/p\u003e \u003cp\u003en Illustration 9.4: The Mexican Gulf Oil Spill 2010 203\u003c\/p\u003e \u003cp\u003en Illustration 9.5: Sports Direct 204\u003c\/p\u003e \u003cp\u003en Illustration 9.6 204\u003c\/p\u003e \u003cp\u003eCorporate Environmental Reporting 205\u003c\/p\u003e \u003cp\u003eIncentives for Corporate Environmental Reporting 206\u003c\/p\u003e \u003cp\u003eDisincentives for Corporate Environmental Reporting 208\u003c\/p\u003e \u003cp\u003eA Risk Society Theory of Social and Environmental Reporting 209\u003c\/p\u003e \u003cp\u003eUsers of Corporate Environmental Reporting 210\u003c\/p\u003e \u003cp\u003eQualitative Characteristics of Corporate Environmental Reporting 210\u003c\/p\u003e \u003cp\u003eElements of Corporate Environmental Reporting 211\u003c\/p\u003e \u003cp\u003eBearing the Cost of Corporate Environmental Reporting 211\u003c\/p\u003e \u003cp\u003eTime Period and Communication of Corporate Environmental Reporting 211\u003c\/p\u003e \u003cp\u003eThe Suggested Content of Corporate Environmental Reports 212\u003c\/p\u003e \u003cp\u003eSustainability and a Stakeholder Perspective 212\u003c\/p\u003e \u003cp\u003eSustainability Reporting 212\u003c\/p\u003e \u003cp\u003eAccounting for Biodiversity, Accounting for Bees, and Extinction Accounting 214\u003c\/p\u003e \u003cp\u003eBee-Ing Bee-Friendly at Every Level: What Can Local Councils and Gardeners Do? 215\u003c\/p\u003e \u003cp\u003eIntegrated Reporting: The Dawning of a New Reality? 216\u003c\/p\u003e \u003cp\u003eAssurance of Social, Environmental, Sustainability and Integrated Reporting 218\u003c\/p\u003e \u003cp\u003eStakeholder Engagement 221\u003c\/p\u003e \u003cp\u003eScepticism about Stakeholder Engagement 222\u003c\/p\u003e \u003cp\u003eA Theoretical Framework for Stakeholder Engagement 222\u003c\/p\u003e \u003cp\u003eStakeholder Engagement in Challenging International Environments 223\u003c\/p\u003e \u003cp\u003en Illustration 9.7: W(h)ither Accountability? Striking Miners in South Africa 224\u003c\/p\u003e \u003cp\u003eGovernance in Public and Third-Sector Organizations 225\u003c\/p\u003e \u003cp\u003eGovernance in the Public Sector 227\u003c\/p\u003e \u003cp\u003eThe Nolan Committee Principles, 1995 228\u003c\/p\u003e \u003cp\u003eThe Good Governance Standard for Public Services, 2004 228\u003c\/p\u003e \u003cp\u003eCorporate Governance in Central Government Departments 229\u003c\/p\u003e \u003cp\u003eCode of Good Practice, July 2005 229\u003c\/p\u003e \u003cp\u003eGovernance in the Third Sector 230\u003c\/p\u003e \u003cp\u003eChapter Summary 232\u003c\/p\u003e \u003cp\u003eWorkshop Activity 232\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Responsible Investment 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 233\u003c\/p\u003e \u003cp\u003eTerminology and Definitions 235\u003c\/p\u003e \u003cp\u003eFrom SEE to ESG 237\u003c\/p\u003e \u003cp\u003eFrom ESG to EAI and Extra Financials 237\u003c\/p\u003e \u003cp\u003eUnited Nations Principles of Responsible Investment (UNPRI, Now PRI) 238\u003c\/p\u003e \u003cp\u003eThe UK Social Investment Forum, UKSIF 239\u003c\/p\u003e \u003cp\u003eThe European Social Investment Forum, EUROSIF 239\u003c\/p\u003e \u003cp\u003eSome Statistics on Responsible Investment 239\u003c\/p\u003e \u003cp\u003eResponsible Investment Strategies 241\u003c\/p\u003e \u003cp\u003eScreening 241\u003c\/p\u003e \u003cp\u003eBest in Sector 241\u003c\/p\u003e \u003cp\u003eThe Financial Performance of Responsible Investment 241\u003c\/p\u003e \u003cp\u003eThe Drivers of Responsible Investment 244\u003c\/p\u003e \u003cp\u003eA Growing Demand for Social Ethical and Environmental Disclosure 247\u003c\/p\u003e \u003cp\u003ePrivate Social and Environmental Reporting 250\u003c\/p\u003e \u003cp\u003en Illustration 10.1: Shareholder Activism on Animal Rights: The Case of Huntingdon Life Sciences 251\u003c\/p\u003e \u003cp\u003en Illustration 10.2: Backlash Against Animal Rights Extremists 252\u003c\/p\u003e \u003cp\u003en Illustration 10.3: The Role of Lobby Groups in Corporate Environmental Issues: The Case of BP Amoco in Alaska 253\u003c\/p\u003e \u003cp\u003ePrivate Social and Environmental Reporting: Mythicizing or Demythologizing Reality? 254\u003c\/p\u003e \u003cp\u003eImpression Management in Private Social and Environmental Reporting 255\u003c\/p\u003e \u003cp\u003ePrivate Climate Change Reporting 255\u003c\/p\u003e \u003cp\u003eResponsible Investment, Pollinators and Species Extinction 255\u003c\/p\u003e \u003cp\u003eResponsible Investment and an Integrated Approach to Institutional Investment 255\u003c\/p\u003e \u003cp\u003ePension Fund Trustees and Responsible Investment 255\u003c\/p\u003e \u003cp\u003eUKSIF Report on Pensions and Responsible Investment 261\u003c\/p\u003e \u003cp\u003eThe Role of Pension Fund Trustees in Climate Change 261\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in an International Context 262\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in the USA 262\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in Canada 263\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in Australia 263\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in Continental Europe 264\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in Japan 264\u003c\/p\u003e \u003cp\u003eSocially Responsible Investment in South Africa 265\u003c\/p\u003e \u003cp\u003eChapter Summary 265\u003c\/p\u003e \u003cp\u003eQuestions for Reflection and Discussion 266\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Future Directions for Corporate Governance and Accountability 267\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Future of Institutional Investor Activism 268\u003c\/p\u003e \u003cp\u003eA Global Convergence in Corporate Governance 269\u003c\/p\u003e \u003cp\u003eA Continuing Broadening of the Corporate Governance Agenda: Holistic Governance and Stakeholder Accountability 270\u003c\/p\u003e \u003cp\u003eHas Corporate Governance Reform Gone Too Far? Or has it Gone Far Enough? 271\u003c\/p\u003e \u003cp\u003eEndnotes N-1\u003c\/p\u003e \u003cp\u003eReferences R-1\u003c\/p\u003e \u003cp\u003eIndex I-1\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988993720549,"sku":"NP9781119561200","price":60.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119561200.jpg?v=1761782352","url":"https:\/\/k12savings.com\/products\/corporate-governance-and-accountability-isbn-9781119561200","provider":"K12savings","version":"1.0","type":"link"}