Thomas Clarke's International Corporate Governance offers a comprehensive guide to corporate governance forms and institutions and examines the recurring crises in corporate governance and the resulting corporate governance reform around the world.
While the popular structure of the original text has been retained, significant changes have been made to take account of the global financial crisis, ever-changing regulations and worldwide governance developments. Key topics include:
- The governance failures of international corporations such as Enron and Lehman Brothers
Diversity in corporate and institutional forms across the world
The role of international corporate governance standards
Digital disruption in capital markets and proposals for rebuilding commitment to long-term investing
The impact of financialization and corporate governance practices on increasing inequality
The links between corporate governance, corporate social responsibility and sustainability
This textbook contains a wealth of pedagogical material to guide the reader through this complex subject, including student questions to help with assessments, and a new companion website. There are also thirteen forensic case studies which scrutinize the governance failures seen at RBS, UBS, BP, Volkswagen and many other international corporations.
International Corporate Governance will be an essential text for anybody studying corporate governance at the advanced undergraduate, master's or executive level.
Table of Contents
Foreword to the First Edition by Sir Adrian Cadbury
Preface to the Second Edition
1. Cycles of Governance
2. Boards and Directors: The Political Mechanisms of Corporate Governance
3. Finance, Law and Markets: The Institutional Elements of Corporate Governance
4. Anglo-American Corporate Governance
5. European Corporate Governance
6. Asia-Pacific Corporate Governance
7. Corporate Governance in the Emerging Economies
8. The Globalisation of Corporate Governance
9. Corporate Social Responsibility
10. Corporate Sustainability
Enron-Era Case Studies
3. HIH Insurance
Global Financial Crisis Case Studies
5. Lehman Brothers
6. Royal Bank of Scotland
Asia-Pacific Case Studies
Corporate Responsibility and Sustainability Case Studies
11. James Hardie
Thomas Clarke is Professor of Management at the University of Technology Sydney. Formerly Professor of Management at the China Europe International Business School (CEIBS), Shanghai, he was a member of the Royal Society of Arts (RSA) Tomorrow’s Company inquiry that influenced the review of UK company law. At the OECD in Paris he helped develop the international corporate governance code, now in its third edition, adopted by governments throughout the world. In 2016, he was awarded the inaugural Sir Adrian Cadbury Scholarship by the International Corporate Governance Network.
Praise for the second edition:
'With an expansive coverage of theories supported by real life examples and cases, this book has ingeniously captured the forces that have shaped and continue to shape the governance landscape in recent decades. An extensive coverage of the academic literature in the area makes the book suitable both for practitioners and academics.' - Khine Kyaw, Associate Professor, NTNU Business School, Norwegian University of Science and Technology (NTNU), Norway
Praise for the previous edition:
'Professor Clarke sets out to cover every aspect of the theory and practice of corporate governance across the world and succeeds in doing so, adding a set of relevant and riveting case studies for good measure. Taking account of the astonishing rapidity of developments in this field internationally, his book represents a remarkable achievement... It will set a benchmark against which to evaluate and measure progress in the field of corporate governance' - From the foreword by Sir Adrian Cadbury.
'Professor Clarke has met the significant challenge of offering a substantial overview of the continually changing landscape of corporate governance. Integrating theory and practice, the book's coverage is both comprehensive and authoritative, providing an essential reference point for students, scholars and practitioners' - Laura F. Spira, Professor of Corporate Governance, Oxford Brookes University, UK.
'How corporations answer calls by shareholders, stakeholders, and governments to be more responsive to ambient societies has to be a central theme in any leading edge corporate governance text. This book does much better than any other in discussing the full range of issues in corporate governance today and in circling the globe to describe the various governance approaches and devices' - Douglas M. Branson, W. Edward Sell Chair in Business Law, University of Pittsburgh, USA.