Recent Advances in Corporate Governance: A Global View

Abstract

Corporate governance is a system of legal approach by which corporates are directed and controlled. The basic focus is on structures of corporate entities, monitoring and directing them for mitigating risks that have been raised due to misdeeds of various factors. The corporate failures such as those of Enron, Xerox, WorldCom, Satyam, and the ones that followed suit, among other things, highlight shortcomings about internal controls, the institution of boards, functioning of board committees disclosures, transparency, reporting standards, and enhancing stakeholder’s confidence. Since 2001, emphasis has been laid down on the governance mechanism to be reinforced to retrieve accuracy and reliability. Over the years, several initiatives have been undertaken by the policymakers, governments, regulators, and the private sector to reform corporate governance. The global business model of geopolitical affairs, social and regulatory compliance, and cyber security are some of the key elements that have radically transformed corporate governance’s thrust in the present-day corporate context. This paper aims to study the advances in corporate governance practices in terms of its nuances related to board diversity and its evaluation; shareholder activism; environment, social and governance (ESG), and enterprise risk management (ERM).

Corporate governance and CSR for sustainability in Oil and Gas: Trends, challenges, and best practices: A review

“…While not specific to the oil and gas sector, Dodd-Frank introduced a range of reforms aimed at improving corporate governance and transparency in the financial markets, which indirectly impacted the oil and gas industry. The GRI has developed a set of guidelines for sustainability reporting, which many oil and gas companies now use to report on their ESG performance (Baker, Purda and Saadi, 2020, Kabeyi, 2020, Kiranmai and Mishra, 2022). The oil and gas industry has also been influenced by international codes and standards, such as the OECD Principles of Corporate Governance, which provide guidelines for good governance practices.…”

Digital Governance in the Internet of Things Context. Evidence from the EU, MENA and BRICS:

“…Lately, the IT sector forward signi cantly the governance sustainability applications. (Kiranmai and Mishra, 2022) In the presented context, the authors propose a few hypotheses for digital governance performance.…”

Corporate governance for sustainability: Connecting environmental, social and economic goals

“…The financial scams that occurred at the start of the previous decade prompted academic and professional communities, as well as various international organisations, to debate the role of corporate governance in business and society (Bebchuk & Weisbach, 2010; Kiranmai & Mishra, 2022). As a result, the current function of corporate governance is to act responsibly for the greater good of society, supported by these evolving theories (Stakeholder theory, Agency theory, Resource dependency theory) and other external factors (pressure from society, NGOs, and governments).…”