Behavioural Approaches to Corporate Governance: 1st Edition (Hardback) book cover

Behavioural Approaches to Corporate Governance

1st Edition

By Cameron Elliott Gordon

Routledge

152 pages | 1 B/W Illus.

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Description

Corporate governance failures are all too frequent and their patterns and outcomes seem avoidably familiar. This book examines the findings of behavioural finance and economics that are most relevant to governance problems, and suggests potential solutions that are best suited to real-world practice and circumstance.

There is a great deal of existing theory that claims to predict the causes and effects of poor governance, and provide solutions. However, the implementation of such measures seems to do little more than merely delay inevitable crises. This book develops a synthesis framework to examine the relative strengths and weaknesses of a behavioural versus deductive approach to understanding the failures of governance. It concludes with a discussion of how corporate governance theory may need to shift going forward, perhaps to include a ‘heterodox’ ecosystem of theoretical paradigms.

This book will be of interest to students, researchers and practitioners concerned with corporate governance, economic theory and behavioural economics.

Table of Contents

1. Introduction 2. 'Neoclassical' corporate governance theory 3. Behavioural approaches to decision-making and analysis 4. Corporate governance failures and malfunctions: their etiologies 5. Towards a behavioural governance framework 6. The future understanding of corporate governance

About the Author

Cameron Elliott Gordon is Adjunct Associate Professor, Health Research Institute, University of Canberra, Australia.

About the Series

Routledge Advances in Behavioural Economics and Finance

Traditionally, economists have based their analysis of financial markets and corporate finance on the assumption that agents are fully rational, emotionless, self-interested maximizers of expected utility. However, behavioural economists are increasingly recognizing that financial decision makers may be subject to psychological biases, and the effects of emotions. Examples of this include the effects on investors’ and managers’ decision-making of such biases as excessive optimism, overconfidence, confirmation bias, and illusion of control. At a practical level, the current state of the financial markets suggests that trust between investors and managers is of paramount importance.

Routledge Advances in Behavioural Economics and Finance presents innovative and cutting edge research in this fast paced and rapidly growing area, and will be of great interest to academics, practitioners, and policy-makers alike.

All proposals for new books in the series can be sent to the series editor, Roger Frantz, at rabeandf@gmail.com.

 

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS027000
BUSINESS & ECONOMICS / Finance
BUS069000
BUSINESS & ECONOMICS / Economics / General