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  1. Striking a Balance Between Rules and Principles-based Approaches for Effective Governance: A Risks-based Approach.Surendra Arjoon - 2006 - Journal of Business Ethics 68 (1):53-82.
    Several recent studies and initiatives have emphasized the importance of a strong ethical organizational DNA (ODNA) to create and promote an effective corporate governance culture of trust, integrity and intellectual honesty. This paper highlights the drawbacks of an excessively heavy reliance on rules-based approaches that increase the cost of doing business, overshadow essential elements of good corporate governance, create a culture of dependency, and can result in legal absolutism. The paper makes the case that the way forward for effective corporate (...)
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  • (1 other version)Corporate governance reform: character‐building structures.Patricia Grant & Peter McGhee - 2014 - Business Ethics: A European Review 23 (2):125-138.
    This paper argues that corporate governance reformers in Anglo-American jurisdictions should consider a different approach in their quest for better corporate governance. Traditionally, corporate governance reform has taken a structural approach, tightening the rules around the number of independent directors required on boards and committees and fine-tuning the definition of independence. However, such an approach has failed to achieve effective corporate governance. Moreover, this approach is informed by the arguably discredited assumption that individuals are rational self-interest utility maximizers. This conceptual (...)
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  • Giving Voice in a Culture of Silence. From a Culture of Compliance to a Culture of Integrity.Peter Verhezen - 2010 - Journal of Business Ethics 96 (2):187 - 206.
    This article argues that attempting to overcome moral silence in organizations will require management to move beyond a compliance-oriented organizational culture toward a culture based on integrity. Such cultural change is part of good corporate governance that aims to steer an organization to enhance creativity and moral excellence, and thus organizational value. Governance mechanisms can be either formal or informal. Formal codes and other internal formal regulations that emphasize compliance are necessary, although informal mechanisms that are based on relationship-building are (...)
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  • Sharing Vocabularies: Towards Horizontal Alignment of Values-Driven Business Functions.Mollie Painter, Sareh Pouryousefi, Sally Hibbert & Jo-Anna Russon - 2019 - Journal of Business Ethics 155 (4):965-979.
    This paper highlights the emergence of different ‘vocabularies’ that describe various values-driven business functions within large organizations and argues for improved horizontal alignment between them. We investigate two established functions that have long-standing organizational histories: Ethics and Compliance and Corporate Social Responsibility. By drawing upon research on organizational alignment, we explain both the need for and the potential benefit of greater alignment between these values-driven functions. We then examine the structural and socio-cultural dimensions of organizational systems through which E&C and (...)
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  • Ethics in Entrepreneurial Finance: Exploring Problems in Venture Partner Entry and Exit.Yves Fassin & Will Drover - 2017 - Journal of Business Ethics 140 (4):649-672.
    This research advances our understanding of the manifestation of tensions and ethical issues in entrepreneurial finance. In doing so, we offer an overview of ethics in entrepreneurship and finance, delineating the curious paucity of research at their intersection. Using twelve vignettes, we put forward the asymmetries between entrepreneurs and investors and discuss a set of ethical problems that arise among key actors centring on the dynamics of venture partner entry and exit, applying the multiple-lens ethical perspective to analyse these issues. (...)
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  • Corporate Governance, Commitment to Business Ethics, and Firm Valuation: Evidence from the Korean Stock Market. [REVIEW]Jinhan Pae & Tae Hee Choi - 2011 - Journal of Business Ethics 100 (2):323 - 348.
    A variety of stakeholders have long been interested in the factors that are related to firm valuation. This article investigates why companies with more comprehensive corporate governance (CG) have a value premium over companies with less comprehensive CG. We posit and find that the cost of equity capital (COC) decreases with the strength of CG, suggesting that the value premium stems from the lower COC for more comprehensive CG. We also find that the COC is lower for companies with strong (...)
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  • The Ethical Implications of Ignoring Shareholder Directives to Remove Antitakeover Provisions.Victoria B. McWilliams - 2008 - Business Ethics Quarterly 18 (3):321-346.
    Managers have a unique fiduciary responsibility to shareholders of a firm that implies a set of ethical obligations. At a minimum, managers are required to protect shareholder’s interests when other stakeholders are unaffected by their decision. This ethical imperative has been established in the literature. In cases of conflicts of interest between managers and shareholders, the board of directors of the firm has an ethical obligation to shareholders. The structure of the board can affect its ability to fulfill this obligation. (...)
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  • Does the Voluntary Adoption of Corporate Governance Mechanisms Improve Environmental Risk Disclosures? Evidence from Greenhouse Gas Emission Accounting.Gary F. Peters & Andrea M. Romi - 2014 - Journal of Business Ethics 125 (4):1-30.
    Prior research suggests that voluntary environmental governance mechanisms operate to enhance a firm’s environmental legitimacy as opposed to being a driver of proactive environmental performance activities. To understand how these mechanisms contribute to the firm’s environmental legitimacy, we investigate whether environmental corporate governance characteristics are associated with voluntary environmental disclosure. We examine an increasingly important attribute of a firm’s disclosure setting, namely the disclosure of greenhouse gas (GHG) information. GHG information represents proprietary non-financial information about the firm’s exposure to environmental (...)
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  • Neither Principles Nor Rules: Making Corporate Governance Work in Sub-Saharan Africa.Franklin Nakpodia, Emmanuel Adegbite, Kenneth Amaeshi & Akintola Owolabi - 2018 - Journal of Business Ethics 151 (2):391-408.
    Corporate governance is often split between rule-based and principle-based approaches to regulation in different institutional contexts. This split is often informed by the types of institutional configurations, their strengths, and the complementarities within them. This approach to corporate governance regulation is mostly discussed in the context of developed economies and their regulatory demands. However, in developing and weak market economies, such as in Sub-Saharan Africa, there is no such explicit split and the debates on such contexts in the comparative corporate (...)
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  • Corporate Governance and Codes of Ethics.Luis Rodriguez-Dominguez, Isabel Gallego-Alvarez & Isabel Maria Garcia-Sanchez - 2009 - Journal of Business Ethics 90 (2):187-202.
    As a result of recent corporate scandals, several rules have focused on the role played by Boards of Directors on the planning and monitoring of corporate codes of ethics. In theory, outside directors are in a better position than insiders to protect and further the interests of all stakeholders because of their experience and their sense of moral and legal obligations. Female directors also tend to be more sensitive to ethics according to several past studies which explain this affirmation by (...)
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  • Gender Diversity in the Boardroom and Risk Management: A Case of R&D Investment.Shimin Chen, Xu Ni & Jamie Y. Tong - 2016 - Journal of Business Ethics 136 (3):599-621.
    Increasing gender diversity in the boardroom has been promoted as a way to enhance corporate governance and risk management. This study empirically examines whether boards with more female directors play a role in reducing R&D risk. We first show that female directors help to reduce the positive relationship between R&D investment and future performance volatility. We then report that firms with more gender-diverse boards exhibit a lower adverse effect of R&D on the cost of debt. These results are robust to (...)
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  • Compensating Outside Directors with Stock: The Impact on Non-Primary Stakeholders. [REVIEW]Yuval Deutsch & Mike Valente - 2013 - Journal of Business Ethics 116 (1):67-85.
    Two obvious trends in corporate governance include broadening board accountability beyond shareholders’ interests and paying outside directors with equity compensation (stock and stock options). By integrating common agency and instrumental stakeholder theories, we examine the effect of stock compensation on secondary stakeholders and a firm’s participation in social issues, two areas where interests are less aligned with shareholder value. Consistent with our predictions, we found that while stock compensation may be an effective way to align directors’ goals to those of (...)
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  • On the Role of Faith in Sustainability Management: A Conceptual Model and Research Agenda.Fabien Martinez - 2019 - Journal of Business Ethics 155 (3):787-807.
    The objective of this article is to develop a faith development perspective on corporate sustainability. A firm’s management of sustainability is arguably determined by the way decision-makers relate to the other and the natural environment, and this relationship is fundamentally shaped by faith. This study advances theoretical understanding of the approach managers take on sustainability issues by explaining how four distinct phases of faith development—improvidence, obedience, irreverence and providence—determine a manager’s disposition towards sustainability. Combining insights from intentional and relational faith (...)
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  • The Responsibility and Accountability of CEOs: The Last Interview with Ken Lay.O. C. Ferrell & Linda Ferrell - 2011 - Journal of Business Ethics 100 (2):209-219.
    Responsibility and accountability of CEOs has been a major ethical concern over the past 10 years. Major ethical dilemmas at Enron, Worldcom, AIG, as well as other well-known organizations have been at least partially blamed on CEO malfeasance. Interviews with Ken Lay, CEO of Enron, after his 2006 fraud convictions provides an opportunity to document his perceived role in the demise of Enron. Possibly no other CEO has had as much impact on the scrutiny and legalization of business ethics as (...)
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  • Stakeholder-Defined Corporate Responsibility for a Pre-Credit-Crunch Financial Service Company: Lessons for How Good Reputations are Won and Lost. [REVIEW]Carola Hillenbrand, Kevin Money & Stephen Pavelin - 2012 - Journal of Business Ethics 105 (3):337-356.
    This paper presents a study that identifies a stakeholder-defined concept of Corporate Responsibility (CR) in the context of a UK financial service organisation in the immediate pre-credit crunch era. From qualitative analysis of interviews and focus groups with employees and customers, we identify, in a wide-ranging stakeholder-defined concept of CR, six themes that together imply two necessary conditions for a firm to be regarded as responsible—both corporate actions and character must be consonant with CR. This provides both empirical support for (...)
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  • In Pursuit of Eudaimonia: How Virtue Ethics Captures the Self-Understandings and Roles of Corporate Directors.Patricia Grant, Surendra Arjoon & Peter McGhee - 2018 - Journal of Business Ethics 153 (2):389-406.
    A recent special issue in the Journal of Business Ethics gathered together a variety of papers addressing the challenges of putting virtue ethics into practice :563–565, 2013). The editors prefaced their outline of the various papers with the assertion that exploring the practical dimension of virtue ethics can help business leaders discover their proper place in working for a better world, as individuals and within the family, the business community and society in general :563–565, 2013). Scholars are yet to explore (...)
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  • (1 other version)Do independent directors protect shareholder value?Pilar Giráldez & José Manuel Hurtado - 2013 - Business Ethics: A European Review 23 (1):91-107.
    The present global financial crisis has revived the notion that competitive markets may lead some directors and executives to behave in opportunistic ways considered unethical and even illegal, through the pursuit of self-interest. This article proposes and tests an integrated model that offers new insights into the relationship between board structure, independence and firm value. By incorporating the proportion of independent directors on the board as a moderating factor in this relationship, this study contributes to a better understanding of the (...)
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