Ethics of Corporate Governance

Nordberg, Donald

doi:10.2139/ssrn.1004038

Cited by 4 publications

(1 citation statement)

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“…For Leslie Hill, as for Ottaway and Holtzbrinck -and we can guess the rest of the Bancroft family -stewardship of the family's legacy of strong journalistic integrity involved a moral choice that involved an appeal to a higher, a priori good, not a utilitarian decision based on shareholder value alone (Nordberg, 2007). Crawford Hill's ethical choice, though, was for active participation by the family during the past 25 years of strategic drift to create strategic value, a utilitarian concept, alongside the a priori end of journalistic integrity.…”

Section: Stewardship At Dow Jonesmentioning

confidence: 99%

Review and Commentary: News and corporate governance

Nordberg

2007

Journalism

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The outcomes of near simultaneous bids for the news organizations Reuters Group plc and Dow Jones & Co. Inc. in 2007 hinged on mechanisms of corporate governance put in place at each company to protect the integrity and independence of the editorial operations. Neither company is a particularly good model of good governance, since the restrictions — super-voting shares at Dow Jones, veto-power by the trustees of the Founders Share Company at Reuters — almost completely rule out an open market for corporate control. This article looks at Reuters — and in even greater detail at Dow Jones, where the private actions of the board and shareholders came into rare public view. It suggests that stewardship theory plays a large role in protecting a perceived social value of the integrity of the news, figuring more heavily in crucial board decision-making than shareholder value. But the outcome of both cases means that the tension between the two is not easily resolved.

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Section: Stewardship At Dow Jonesmentioning

confidence: 99%