Friday, 20 March 2015

Approach adopted by "International Corporate Governance"

I had been toying for a long time with the idea of writing a textbook on corporate governance. However, it was only when I moved to Cardiff Business School and was asked to teach an entire course on corporate governance that I seriously started thinking about this. When I was designing the course I felt uneasy about adopting one of the existing textbooks. I found these to be very limited in terms of their scope and their view of corporate governance. Not only were these textbooks Anglo-centric, but they also limited corporate governance to accountability and compliance. My view is that corporate governance is much more than this.The main approach I took in my book is to study the conflicts of interests that corporations may suffer from. The book also adopts an international approach, comparing the advantages and drawbacks of the various systems of corporate governance across the world.

The book is organised into 5 different parts. Part I introduces corporate governance, reviews the theoretical body and develops the main concepts of corporate governance that are used across the book. Part II focuses on international corporate governance; including taxonomies of corporate governance systems; how to incentivise managers and how to discipline those that perform badly; the link between corporate governance, types of financial systems and economic growth; and corporate governance regulation. Part III analyses the role of various stakeholders in corporate governance. These stakeholders include debtholders, such as banks, employees and gatekeepers. This part also studies the role of corporate social responsibility (CSR) and socially responsible investments (SRIs). Part IV looks at possible ways of improving corporate governance. This part looks at corporate governance in emerging markets, contractual corporate governance, corporate governance in initial public offerings, and behavioural biases that affect managers' decision making. Finally, Part V of the book concludes.

An extensive glossary at the end of the book enables the reader to revisit quickly the concepts and technical terms used throughout the book. Complimentary teaching support material - including a test bank with 100 multiple choice questions, an instructor's manual and a complete set of PowerPoint slides - is available from here.

Reviews of the book include James McRitchie's review at corpgov.net and Prof. David Hillier's review.

The book is also now available in a Chinese translation from China Machine PressIt will soon be available in a Greek translation from Diplographia. 

Endorsements on the back cover:

'An excellent textbook which truly stands out. It is better than any book on corporate governance that I have seen', Luc Renneboog, Tilburg University

'Marc Goergen's book on corporate governance is by far the best textbook that has been published on the topic. He has done a wonderful job of covering the topics from a global perspective and I strongly recommend it to all scholars and students with an interest in corporate governance', Franklin Allen, Wharton School, University of Pennsylvania

'An excellent and very comprehensive book. It should become a standard reference on corporate governance', Colin Mayer, Saïd Business School, University of Oxford

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