Game theory and corporate governance: conditions for effective stewardship of companies exposed to climate change risks

Kruitwagen, Lucas; Madani, Kaveh; Caldecott, Ben; Workman, Mark

doi:10.1080/20430795.2016.1188537

Cited by 16 publications

(8 citation statements)

References 36 publications

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“…Game analysis has been deeply used in psychology, environmental science, transportation, management, sociology, library information and archives, and other fields (Aumann and Maschler, 1985 ; Hobbs et al, 2000 ). At present, in the corporate governance and social responsibility research field, game analysis is gradually becoming a new and effective method (Kruitwagen et al, 2017 ). Based on the traditional agency theory, the game has only two players, namely, shareholders and managers.…”

Section: Methodsmentioning

confidence: 99%

Stakeholder governance and the CSR of banks: An analysis of an internal governance mechanism based on game theory

Yao

2022

Front. Psychol.

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Banks have an important social responsibility to serve the real economy and to maintain financial stability, and they also need to be responsible to borrowers and others. Against the backdrop of the COVID-19 pandemic affecting the global economy and increasing financial risks, it is particularly important for banks to assume social responsibilities. This study theoretically analyzed the outstanding applicability of stakeholder governance theory. Using a two-stage game method, the optimal pressure intensity of the social responsibility stakeholders was calculated, and the dynamic performance of shareholders was deduced. We found that the establishment of the social responsibility stakeholder governance mechanism will prompt the bank to fulfill its social responsibilities; rational social responsibility stakeholders will not lead to poor bank management due to excessive behavior; and shareholders with social responsibility can self-consciously choose the investment projects with lower negative externalities. The conclusions can be summarized as follows: The participation of stakeholder and the establishment of the social responsibility function of the board of directors can help promote a bank's social responsibility performance. This work studied the social responsibility of banks from the new perspective of stakeholder governance, expands the theoretical boundaries, and puts forward relevant suggestions to enhance the application value of this research.

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Section: Methodsmentioning

confidence: 99%

Stakeholder governance and the CSR of banks: An analysis of an internal governance mechanism based on game theory

Yao

2022

Front. Psychol.

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“…Thereby, a corporate governance policy which focusses on sustainability, employee wellbeing and future technological challenges is to be framed (Mathew & Sivaprasad, 2020). The stewardship behaviour of managers leads to exemplary corporate governance practices (Clarke, 2004; Glinkowska & Kaczmarek, 2015; Kruitwagen et al, 2017; Madhani, 2017; Melis & Nijhof, 2018; Subramanian, 2018; Swedan & Ahmed, 2019). It helps companies to adapt to the external economic environment and create shareholder value, which is one of the main goals of corporate governance.…”

Section: Corporate Stewardship: Helping Companies Find Sustainability Post Covid-19mentioning

confidence: 99%

A Note on Boardroom Challenge, Board Effectiveness and Corporate Stewardship During COVID-19

Kaur

Malik

Sharma

2021

Vision: The Journal of Business Perspective

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The global COVID-19 pandemic has led to spawning norms in all quarters, including the corporate boardrooms. The transformation required in boards is unprecedented in its intensity to overcome the changing challenges in the global market. A conceptual note has been developed to understand the boardroom challenges and the requirement of corporate stewards to combat the situation of health crises. The article discusses the new boardroom challenges the organization have to face such as virtual boardroom, right board composition, dynamic risk assessment, continuity and resilience. The need of the hour for corporate is to have an effective and steward board to overcome the health and financial challenges. The article also intends to give suggestions to the companies to manage the pandemic situation with a right steward attitude. Their diligent work can lead to increase in profits, which could further satisfy the shareholders with higher returns.

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“…This method could be used in this case study due to a serious competition between the stakeholders to allocate the water. In addition, the PM is the best option to allocate the water due to its serious shortage since the volume of available water is usually less than the required volume (Madani et al 2017;Kruitwagen et al 2017).…”

Section: Game Theorymentioning

confidence: 99%

Optimal Reservoir Operation Using Bat and Particle Swarm Algorithm and Game Theory Based on Optimal Water Allocation among Consumers

Zarei

Mousavi

Gordji

et al. 2019

Water Resour Manage

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Water resources scarcity and competition among stakeholders in water allocation always highlights the optimal operation of water resources. This research examines the operation of a multi-purpose water reservoir aiming at providing agricultural, urban, industrial and environmental demands. A new evolutionary Hybrid Algorithm (integrating Bat Algorithm (BA) and Particle Swarm Algorithm (PSA)) first specified total monthly water release to meet the total monthly needs (agricultural, urban, industrial and environmental) to operate the optimal reservoir. The new Hybrid Algorithm (HA) helps BA and PSA to increase the convergence rate and achieve an optimal absolute response by eliminating the weak responses of one algorithm and substituting the strong responses of the other algorithm. Released water was then allocated to different demands based on the proportional method in the Game Theory (GT). The optimal operation of Shahid Dam Reservoir in Fars, southern Iran is the case study of this research, which has been a serious challenge for decision makers to meet various water demands. The convergence rate of HA was more than that of BA and PSA based on the results. Moreover, the HA with volumetric reliability of 0.92, 0.89, 0.79 and 0.75 was used to meet the urban, environmental, agricultural and industrial demands; while, the volumetric reliability indices of BA and PSA were less than the HA. Also, the mean water release values by the HA met different demands much better than BA and PSA in a period of five years.

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Game theory and corporate governance: conditions for effective stewardship of companies exposed to climate change risks

Cited by 16 publications

References 36 publications

Stakeholder governance and the CSR of banks: An analysis of an internal governance mechanism based on game theory

Stakeholder governance and the CSR of banks: An analysis of an internal governance mechanism based on game theory

A Note on Boardroom Challenge, Board Effectiveness and Corporate Stewardship During COVID-19

Optimal Reservoir Operation Using Bat and Particle Swarm Algorithm and Game Theory Based on Optimal Water Allocation among Consumers

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