{"product_id":"corporate-governance-and-accountability","title":"Corporate Governance and Accountability","description":"\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":"Jill Solomon","offers":[{"title":"Default Title","offer_id":42848849657917,"sku":"9781119561200","price":95.36,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0597\/7689\/2989\/files\/9781119561200_67e65af9-7a15-4723-ae06-f39949fa5196.jpg?v=1766989451","url":"https:\/\/www.palmleaf.com.au\/products\/corporate-governance-and-accountability","provider":"Palmleaf","version":"1.0","type":"link"}