CURRENT CHALLENGES OF CORPORATE GOVERNMENT AROUND THE CREATION OF VALUE
DOI:
https://doi.org/10.18041/1900-0642/criteriolibre.2013v11n19.1107Keywords:
Government, Stockholders, valueAbstract
The creation of value has been a permanent challenge for the administration. Added to efficiency and effectiveness, is the need to create value for the stockholder. The conditions brought by globalization, the predominance of financial capitalism and the ICT’s (Information and Communication Technologies), generate new challenges for governments, business owners and the academy. Administration has looked for answers to such challenges through a new management model, the Corporate Government (CG). This article reflects around the administration stages and the emergence of the CG, its constituent elements as well as the faced challenges. Conclusions are proposed and a need for follow-up to the performance of organizations that adopt the CG schemes is evidenced.
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References
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Barbosa, D.; Medina, C.; Vargas (2013). Globalización, capitalismo financiero y responsabilidad social empresarial: Tensiones estructurales. Tesis de maestría no publicada. Universidad del Rosario, Bogotá, Colombia.
Cadbury (1992). Report of the committee on the Financial Aspects of Corporate Governance, p. 14; University of Cambridge, UK.
Choi, T. & Pae, J. (2011), Corporate Governance, Commitment to Business Ethics, and Firm Valuation: Evidence from the Korean Stock Market. Journal of Business Ethics, 100, pp. 323-348.
Chuang, S. (2004). A resource-based perspective on knowledge management capability and competitive advantage: An empirical investigation. Expert Systems with Applications, 27, pp. 459-465.
Fernández, A.; Gómez, S.; Fernández-Méndez, C. (1999). El papel supervisor del consejo de administración sobre la actuación gerencial. Evidencia para el caso español. Investigaciones Económicas, 22 (3), pp. 501-516.
Franco, J.; Montalván, S. (2010). Governance Codes: Facts or Fictions? A study of governance codes in Colombia. Estudios Gerenciales, Vol. 26, No. 117, pp. 85-102.
Freeman, E. (1984). Strategic Management: A stakeholder approach. Boston: Pitman.
Freeman, E.; Wicks, A.; Parmar, B. Stakeholder Theory and “The Corporate Objective Revisited”; Journal Organization Science, Vol. 15, Nº 3, pp. 364-369.
Friedman, M. (1970). “The social responsability of Business is to Increase its Profits”. New York Times Magazine (13 September).
Harjoto, M. (2011). The causal effect of Corporate Governance on Corporate Social Responsibility. Journal of Business Ethics, 106, pp. 53-72.
Hart, O. (1995). Corporate Governance: some theory and implications. The Economic Journal, pp. 678-689.
International Finance Corporation (2005). The Irresistible Case for Corporate Governance. Disponible en: www.ifc.org
Kruse, C.; Lundbergh, S. (2010). The governance of Corporate Sustainability. Rotman Journal of Pension Management, Vol. 3, Issue 2.
Lo, S.; Sheu, H. (2007). Is Corporate Sustainability a Value-Increasing Strategy for Business? Journal Compilation. BlackWell Publishing Ltd., Oxford, USA, Vol. 15, No. 2.
Magretta, J. (2003). Qué es management: cómo funciona y por qué nos afecta. Colombia: Empresa Activa.
Morgan, G. (1998). Images of Organizations. San Francisco: Yale University Press.
Ping, Z.; Cheng, A. (2011). Corporate Governance: A summary review on Different Theory Approaches. International Research Journal of Finance and Economics, Issue 68, pp. 7-13.
Ricart, J.; Rodríguez, M.; Sánchez, P. (2005). Sustainability in the boardroom: An empirical examination of Dow Jones Sustainability World Index. Corporate Governance, p. 24.
Sundaram, A.; Inkpen, (2004). The Corporate Objective Revisited. Organization Science, Vol. 15, No. 3, pp. 350-363.
Torres, S.; Gorbaneff, Y.; Contreras, N. (2005). Prioridades en la definición de límites entre aseguradores y prestadores de servicios de salud. Revista Gerencia y Políticas de Salud, pp. 141-158.
Tovar, J. (2008). Las claves del gobierno corporativo. Revista de Economía y Derecho, pp. 41-60.
Villegas, F.; Arbeláez, M. (2004). Colombia: Diagnóstico de la estructura de Financiamiento del Sector Real e Identificación de Obstáculos que han impedido que estas empresas acudan al Mercado de Valores.
Yuksel, C. (2008). Recent developments of Corporate Governance in the Goblal Economy and the New Turkish Commercial Draft Law Reforms. Journal of International Commercial Law and Technology, Vol. 3, Issue 2.
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2017-10-25
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CURRENT CHALLENGES OF CORPORATE GOVERNMENT AROUND THE CREATION OF VALUE. (2017). Criterio Libre, 11(19), 187-204. https://doi.org/10.18041/1900-0642/criteriolibre.2013v11n19.1107
