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Governance Through Ownership and Sustainable Corporate Governance

In my latest publication for the Oxford Research Encyclopedia of Business and Management , I define sustainable corporate governance  as follows: "Sustainable corporate governance is the set of arrangements that ensure that the firm focuses on maximizing long-term shareholder value, which goes hand in hand with the consideration of broader stakeholder interests in the firm’s decision-making. The focus on long-term shareholder value creation not only enhances the survival of the firm in the long run, but it also promotes the preservation of the firm’s ecosystem." I then review the literature on whether and how different types of shareholders promote sustainable corporate governance in their investee firms. Read more here . Source:   Goergen, M. (2022), ‘Governance through Ownership and Sustainable Corporate Governance’, in Oxford Research Encyclopedia of Business and Management , Oxford University Press, .
Recent posts

CEO Duality: For Better and for Worse

Separating the roles of the CEO and the chair of the board of directors is considered best practice by many regulators, but should this be? Professor Marc Goergen draws from his research to discuss how combining the two roles can affect a firm’s leadership and shareholder value. Please read more here . 

Gender Diversity of Boards. IE Researchers: Gender Focus.

 Please click the link below to watch my discussion with my colleague, Professor Patricia Gabaldon , on gender diversity on boards, from 18 March 2021. We discussed the benefits that gender diversity can bring to boards and companies, and the barriers that women encounter when trying to get to top leadership positions.

Corporate Governance. A Global Perspective

Philosophy of the Book Existing textbooks on corporate governance tend to have a strong focus on UK and/or US corporate governance. This focus is somewhat surprising as the UK and US corporate governance systems have features which clearly set them apart from pretty much the rest of the world. Indeed, the typical British and American stock-market listed firm is widely held (held by many shareholders) and control therefore lies with the management rather than the shareholders. In contrast, most stock-exchange listed firms from the rest of the world have a large shareholder whose control is substantial enough to have a significant influence over the firm’s affairs. Given these marked differences in ownership and control, corporate governance issues emerging in non-UK and non-US firms tend to be very different from those that may affect British and American companies. Hence, it is important for a textbook to bear in mind the diversity of ownership and control a

Women on Boards Leads to Greater Sustainability

Why would female directors be more likely to promote the use of renewable energy than their male peers? What evidence is there that women care more about ethics and corporate social responsibility (CSR) than men? Marc Goergen, Finance Professor at IE Business School, answers these questions and elaborates on why women are key in the move towards a more sustainable society. Read more.

BVCA response to Warwick Business School report

In what follows, I and my co-authors respond to criticism voiced by the British Private Equity and Venture Capital Association (BVCA) about a study we conducted. The original BVCA press release can be found here . A new paper by Geoffrey Wood of Warwick Business School, Marc Goergen of Cardiff University and Noel O'Sullivan of Loughborough University - 'The Employment Consequences of Private Equity Acquisitions: The Case Of Institutional Buy Outs' - looks at the changes to employment and productivity in companies that have been the subject of institutional buyouts (IBOs) compared to matched companies that did not receive such a buyout. The paper looks at an initial total of 106 IBOs undertaken over the period 1997 to 2006. This is in the context of 2,200 management buyouts (MBOs) and 500 management buy-ins (MBIs) [1] taking place in the UK over the same time period. As it makes explicit, the study focuses "exclusively on the employment consequences of institutiona