Download or read book The Corporate Governance Role of the Media written by Alexander Dyck and published by . This book was released on 2002 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do media play any role in corporate governance? In this paper we argue that media pressure corporate managers and directors to behave in ways that are "socially acceptable". Sometimes this coincides with shareholders' value maximization, others not. We provide both anecdotal and systematic evidence that media affect companies' policy toward the environment and the amount of corporate resources that are diverted to the sole advantage of controlling shareholders. Our results have important consequences for the focus of corporate governance debate and for the feasibility of reforms aimed at improving corporate governance around the world.

Download or read book The Corporate Governance Role of the Media written by I. J. Alexander Dyck and published by . This book was released on 2008 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we discuss the role of the media in pressuring corporate managers and directors to behave in ways that are quot;socially acceptablequot;. Sometimes this coincides with shareholders' value maximization, others not. We provide both anecdotal and systematic evidence that media affect companies' policy toward the environment and the amount of corporate resources that are diverted to the sole advantage of controlling shareholders. Our results have important consequences for the focus of the corporate governance debate and for the feasibility of reforms aimed at improving corporate governance around the world.

Download or read book The Corporate Governance Role of the Media written by Alexander Dyck and published by . This book was released on 2006 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of media coverage on corporate governance by focusing on Russia in the period 1999-2002. This setting offers us three ideal conditions for such a study: plenty of corporate governance violations, no alternative mechanisms to address them, and the presence of an investment fund (the Hermitage) that actively lobbies the international press to shame companies perpetrating those violations. We find that Hermitages lobbying is effective in increasing the coverage of corporate governance violations in the Anglo-American press. We also find that coverage in the Anglo-American press increases the probability that a corporate governance violation is reversed. This effect is present even when we instrument coverage with an exogenous determinant, i.e. the Hermitages folio composition at the beginning of the period. The Hermitages strategy seems to work in part by impacting Russian companies reputation abroad and in part by forcing regulators into action.

Download or read book The Role of the Broadsheet Newspaper Media in Corporate Governance written by Louise Gorman and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the impact of broadsheet newspaper reporting of takeover offers and market abuse cases on the corporate governance quality of the UK listed companies involved. The study examined 111 takeover offers and 25 market abuse cases from 2001 to 2010. Corporate governance quality is assessed from the perspective of the board of directors using an original scoring methodology devised herein. The scoring methodology is founded upon principles of best practice set out in UK regulatory guidelines; the statutory responsibilities expected of boards of UK companies; and recommendations expressed in academic commentary and specialist reports on corporate governance. The level of newspaper reporting is measured using the archives of eight prominent UK broadsheet publications. The results of statistical analysis indicate a significant association between changes in corporate governance quality and newspaper reporting on takeover offers but not for market abuse cases. This study sheds insight into the role the broadsheet media plays in corporate governance and contributes to a growing strand of research on the capacity of the media to lower agency costs. Findings imply that the broadsheet newspaper media serves a potentially important function in facilitating the operation of the market for corporate control. Specifically, by reporting on companies' vulnerability to takeover, the newspaper media can create reputational costs for target directors thereby encouraging governance improvements in target companies. This thesis adds to an extensive body of literature on corporate governance and the market for corporate control in the UK by identifying the newspaper media as a significant intermediary in the context of the London Stock Exchange. Findings suggest a need for enhanced shareholder monitoring of boards of targets of failed takeover offers; greater clarity in guidelines on best practice in corporate governance; and increased acknowledgement of the impact of the media on corporate governance at policy level.

Download or read book Media Impact on Corporate Governance written by Shantal Semaan and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Media is an important mechanism in our every day life and its significance has grown even more with the presence of corrupted systems and individuals. In this matter, the media enforced itself as a key tool to reveal the truth behind tainted activities that affect different societies. The media great ability comes in affecting the reputation of corporate leaders, politicians and firms that are engaged in damaging actions by delivering the information to the public. So in order to protect their reputation in the eyes of the shareholders and the public at large, and to protect also their future employments and positions, corporates impose reforms in the corporate governance. Consequently in this study we assess the role of the media in affecting corporate governance concerning policies towards the environment. Our results deliver important outcomes regarding the role of media, its diffusion significance and the degree of influence in improving corporate governance.

Download or read book Corporate Governance of Media Companies written by Robert G. Picard and published by . This book was released on 2005 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Right to Tell written by Roumeen Islam and published by World Bank Publications. This book was released on 2002 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the role of the news media in promoting equitable economic development, and considers the obstacles it faces as a catalyst for change and growth. It examines the capacity of investigative journalism to scrutinise public policy and the activities of the corporate sector, to facilitate public access to information, expose corruption and weak governance and thus promote greater transparency and accountable government. It contains contributions from journalists, television and newspaper editors, economists and academics, as well as the winner of the Nobel Prize for Economics Joseph Stiglitz, and for Literature, Gabriel Garcia Marquez. A number of case studies examine the work of the media and the challenges they face in various countries including Thailand, Bangladesh, Egypt, Zimbabwe and the former Soviet Union.

Download or read book Corporate Governance and Media written by Robert Edgell and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Media companies play an important role in the heated debate on corporate governance. A number of researchers argue that media has had an important lever function that helps all companies to comply with public expectations of good governance. In economic terms - the media selectively reduce the cost of acquiring and verifying information. This “transparency” is crucial since it gives stockholders and stakeholders access to information and shapes the reputation of board members who determine corporate policy. In order to contribute to this under-researched topic, we focused on corporate governance of media companies. Due to constraints of time and space, we limited our sample to a comparison of two companies from two different countries. First, as representative of arguably the most developed media market, we have chosen US based TimeWarner (TWX). With 2003 revenues of US$39.5 billion and nearly 80,000 employees, TWX is the world's largest media conglomerate. Offering a diverse range of consumer-oriented media products and services, TWX reaches globally diverse audiences in 200 countries. Second, and as a representative of one of the fastest growing markets, we have chosen Hong Kong based Phoenix Satellite Company Limited (PST). Revenue of the group in 2003 was approximately HK$709 million (US$91 million). Although launched only eight years ago, it has become the most popular TV news channel in mainland China with an audience of about 150 million people. We did not choose a mainland Chinese media organization given that most are state owned and operated and offer very little publicly available data. Furthermore, as mainland China's TV stations are all state-owned, they do not conform to “free market” governance approaches. Therefore, we selected PST; a listed Hong Kong based TV company to study. It is comparable to TWX in terms of its international board members, market-oriented corporate governance, and global Chinese audience market. While acknowledging the methodological shortcomings of such an approach, we found our case comparisons of two media companies useful for providing insights and conclusions. In order to control for country specific aspects, we decided to choose companies from two countries with essentially different political and social systems, i.e. the US and China. To compensate for the particularities of the two cases, we first reviewed literature on supervisory boards in China and the USA in general. This literature review provided important contextual grounding. Prepared by: Robert Edgell, Balazs Harasta, Roland Pfyl, and Yingzi Xu.

Download or read book Media and Governance written by Thomas Schillemans and published by Policy Press. This book was released on 2019-01-16 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published as a special issue of Policy & Politics, this updated volume explores the intersections between governance and media in western democracies, which have undergone profound recent changes. Many governmental powers have been shifted toward a host of network parties such as NGOs, state enterprises, international organizations, autonomous agencies, and local governments. Governments have developed complex networks for service delivery and they have a strategic interest in the news media as an arena where their interests can be served and threatened. How do the media relate to and report on complex systems of government? How do the various governance actors respond to the media and what are the effects on their policies? This book considers the impact of media-related factors on governance, policy, public accountability and the attribution of blame for failures.

Download or read book The Media and Firm Reputation Roles in Corporate Governance Improvements written by Beni Lauterbach and published by . This book was released on 2016 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study to what extent media pressure and firm's reputational concerns encourage corporate governance improvements. Our test sample comprises 72 European dual-class-shares firms that voluntarily unified their shares into a single class. We find that when the press' anti-dual-class-shares sentiment intensifies, the dual class firms' market valuation discount deepens, and the rate of unifications increases. We also show that dual-class firms that are more sensitive to public image (firms on the eve of an equity offering, and firms that invest more in Corporate Social Responsibility activities) are more likely to unify their dual class shares.

Download or read book The Corporate Governance of the Media written by Alexander Dyck and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

Download or read book Corporate Governance a Board Director S Pocket Guide written by Dr. Eric Yocam and published by iUniverse. This book was released on 2010-02-22 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The demands for better corporate leadership and governance continue to receive greater attention in the media. Given the significant failures in the boardroom from companies such as Enron, Global Crossings, WorldCom, Digital Equipment Corporation, Bre X, Credit Suisse, First Boston, Credit Lyonnais, Adelphia, Paramalat and Tyco, the board of director position is a pivotal role. Navigating this potential minefield is difficult but not impossible. In Corporate Governance: A Board Directors Pocket Guide, authors Dr. Eric Yocam and Dr. Annie Choi present the corporate governance principles in a complete and accessible manner. This second edition not only provides access to vital information on corporate governance, but also offers a source of the best critical leadership practices for the director. Organized in a convenient and easy-to-use format, this guide discusses numerous corporate governance topics, including: Board characteristics Director effectiveness Director mentoring Compliance Risk management Capability maturity models Total Cost of Ownership (TCO) technique Emerging governance trends This pocket guide promotes corporate governance awareness to an audience beyond the active corporate director for profit and nonprofit companies. Investors, instructors, students, governance practitioners, lawyers, international readers, and anyone interested in corporate governance can achieve greater understanding of a topic essential to today's business success.

Download or read book Corporate Governance Matters written by David Larcker and published by FT Press. This book was released on 2011-04-14 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples 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.

Download or read book Developing Independent Media as an Institution of Accountable Governance written by Shanthi Kalathil and published by World Bank Publications. This book was released on 2011-06-29 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within the broader donor-led governance agenda, assistance to independent media ? or ?media development, ? as it is commonly known ? is an ill-understood area. This handbook is designed for those who may be interested in media development programs, but are unclear about the whys, hows, and whens.

Download or read book How Symbolic Action Affects the Media as a Governance Mechanism written by Michael Kay Bednar and published by . This book was released on 2008 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines the potential for the media to act as a corporate governance mechanism and suggests how corporate leaders, through the use of symbolic action, can influence the media's ability to effectively enact this role. Specifically, I examine how media scrutiny may prompt firms to adopt governance structures that increase the structural independence of the board and thus, according to the prevailing agency logic of corporate governance, are thought to increase the board's ability to monitor and control corporate leaders. However, the adoption of structurally independent boards may be largely symbolic wherein formal structural changes in board independence are made without increases in the social independence of the board. I argue that symbolic responses to scrutiny will meet the media's expectations for proper governance and engender more positive subsequent evaluations in the media of the firm and its leaders. I conclude by showing why the effects of symbolic action on media coverage are important for a range of outcomes relevant to firms and CEOs including the likelihood of strategic change, CEO dismissal and compensation, and subsequent board appointments. By influencing the manner in which they and their firms are portrayed in the media, firm leaders may enhance their reputations in the press and garner personal benefits. Thus, while agency theory focuses on the media's ability to curb agency costs, this study points out that because of the media's susceptibility to symbolic action, the press may actually perpetuate agency costs in some cases. Longitudinal analysis of a sample of S & P 500 firms provides some support for these ideas.

Download or read book Governance in the Digital Age written by Brian Stafford and published by John Wiley & Sons. This book was released on 2019-04-16 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new edition of the #1 text in the human computer Interaction field! This book seeks to chart the technology-fueled changes taking place in the field of corporate governance and describes the impact these changes are having on boards and the enterprises they govern. It also describes what the future could look like once companies truly embrace the power of technology to change governance. Additionally, this book will provide a set of "suggested action steps" for companies and their boards focused on ways they can leverage technology tools to enhance governance immediately. Through a review of the latest governance research, interviews with key thought leaders, and case studies of enterprises that have embraced governance technology, readers will be armed with new insights and approaches they can take to enhance the work of their boards and senior leaders to reach new levels of performance. Explains how to use design and evaluation techniques for developing successful interactive technologies Demonstrates, through many examples, the cognitive, social and affective issues that underpin the design of these technologies Provides thought-provoking design dilemmas and interviews with expert designers and researchers Uses a strong pedagogical format to foster understanding and enjoyment An accompanying website contains extensive additional teaching and learning material including slides for each chapter, comments on chapter activities, and a number of in-depth case studies written by researchers and designers.