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Corporate Governance
Corporate governance refers to the mechanisms, processes, practices, and relations by which corporations are controlled and operated by their boards of directors, managers, shareholders, and stakeholders. Definitions "Corporate governance" may be defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, corporate law law, or management) often adopt narrow definitions that appear purpose specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance describes the processes, structures, and mechanisms that influence the control and direction of corporations." This meta definition accommodates both the narrow definitions used in specific contexts and the broader descriptions that are often presented as au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e., by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue share capital, stock, or whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this articl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employment
Employment is a relationship between two party (law), parties Regulation, regulating the provision of paid Labour (human activity), labour services. Usually based on a employment contract, contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wage, wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuity, gratuities, bonus payments or employee stock option, stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by Labour law, employment laws, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrei Shleifer
Andrei Shleifer ( ; born February 20, 1961) is a Russian-American economist and Professor of Economics at Harvard University, where he has taught since 1991. Shleifer was awarded the biennial John Bates Clark Medal in 1999 for his seminal works in three fields: corporate finance (corporate governance, law and finance), the economics of financial markets (deviations from efficient markets), and the economics of transition. IDEAS/RePEc ranked him as the second top economist in the world in 2011, and the top economist in 2024. He is also listed as #1 on the list of "Most-Cited Scientists in Economics & Business". On Google Scholar, as of 2024 he had over 400,000 citations. Life He was born to a Jewish family in the Soviet Union and emigrated to Rochester, New York, as a teenager in 1976, where he attended an inner-city school and learned English from episodes of '' Charlie's Angels''. He then studied mathematics, obtaining his BA from Harvard University in 1982. Following this, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Klausner
Michael Klausner (born 1954) is the Nancy and Charles Munger Professor of Business and Professor of Law at Stanford Law School. He has been a member of the Stanford Law School faculty since 1997. He works in the areas of corporate law, corporate governance, and financial regulation. Education Klausner graduated summa cum laude from the University of Pennsylvania with a Bachelor of Arts in Political Science and Urban Studies. He went on to study law at Yale Law School, earning a Juris Doctor with a joint Master of Arts in Economics. At Yale, Klausner was the Notes and Topics editor for the Yale Law Journal.http://www.law.stanford.edu/display/images/dynamic/people_cv/klausner_cv.pdf Academic and professional career After finishing law school in 1981, Klausner clerked for Justice William J. Brennan Jr. of the U.S. Supreme Court and Judge David L. Bazelon of the U.S. Court of Appeals for the District of Columbia Circuit. He then worked as an associate with Paul, Weiss, Rifkin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Efficiency
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: * Allocative or Pareto efficiency: any changes made to assist one person would harm another. * Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient. There are also other definitions and measures. All characterizations of economic efficiency are encompassed by the more general engineering concept that a system is efficient or optimal when it maximizes desired outputs (such as utility) given available inputs. Standards of thought There are two main standards of thought on economic efficiency, which respectively emphasize the distortions created by ''governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Accountability
Corporate Accountability (formerly INFACT, Corporate Accountability International) is a non-profit organization, founded in 1977. Their campaign headquarters are in Boston, Massachusetts, and they have offices in Oakland, California; Seattle, Washington; and Bogotá, Colombia. __TOC__ History Since 1977 Corporate Accountability has waged a number of high-profile campaigns to protect public health, the environment and democracy from abuse by transnational corporations. From 1977 to 1986 the Infant Formula Campaign and Nestlé Boycott brought about significant reforms in the marketing of infant formula in developing countries. The work of Corporate Accountability International and allies contributed to the passage of the World Health Organization's International Code of Marketing of Breast-milk Substitutes in 1981. From 1984 to 1993 the Nuclear Weaponmakers Campaign and General Electric (GE) Boycott cost the company over $19 million in lost medical equipment sales and $100 mill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, Inc., Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson plc, Pearson sold the publication to Nikkei for Pound sterling, £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. In 2023, it was reported to have 1.3 million subscribers of which 1.2 million were digital. The newspaper has a prominent focus on Business journalism, financial journalism and economic analysis rather than News media, generalist reporting, drawing both criticism and acclaim. It sponsors an Financial Times and McKinsey Business Book of the Year Award, annual book ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collective Action Problem
A collective action problem or social dilemma is a situation in which all individuals would be better off cooperating but fail to do so because of conflicting interests between individuals that discourage joint action. The collective action problem has been addressed in political philosophy for centuries, but was more famously interpreted in 1965 in Mancur Olson, Mancur Olson's ''The Logic of Collective Action''. Problems arise when too many group members choose to pursue individual profit and immediate satisfaction rather than behave in the group's best long-term interests. Social dilemmas can take many forms and are studied across disciplines such as psychology, economics, and political science. Examples of phenomena that can be explained using social dilemmas include resource depletion and low voter turnout. The collective action problem can be understood through the analysis of game theory and the free-rider problem, which results from the provision of Public good (economics), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multiple Principal Problem
The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. Specifically, the multiple principal problem states that when one person or entity (the " agent") is able to make decisions and / or take actions on behalf of, or that impact, multiple other entities: the " principals", the existence of asymmetric information and self-interest and moral hazard among the parties can cause the agent's behavior to differ substantially from what is in the joint principals' interest, bringing large inefficiencies. The multiple principal problem has been used to explain inefficiency in many types of cooperation, particularly in the public sector, including in parliaments, ministries, agencies, inter-municipal cooperation, and public-private part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Preference
In behavioral economics, time preference (or time discounting,. delay discounting, temporal discounting, long-term orientation) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. Applications for these preferences include finance, health, and climate change. Time preferences are captured mathematically in the discount function. The main models of discounting include exponential, hyperbolic, and quasi hyperbolic. The higher the time preference, the higher the discount placed on returns receivable or costs payable in the future. Several factors correlate with an individual’s time preference, including age, income, race, risk, and temptation. On a larger level, ideas such as sign effects, sub-additivity, and the elicitation method can influence how people display time preference. Time preference can also inform wider preferences about real world behavior and attitudes, such as pro-social behavior. Cultura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Stock
A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). Stock repurchases are used as a tax efficient method to put cash into shareholders' hands, rather than paying dividends, in jurisdictions that treat capital gains more favorably. Sometimes, companies repurchase their stock when they feel that it is undervalued on the open market. Other times, companies repurchase their stock to reduce dilution from incentive compensation plans for employees. Another reason for stock repurchase is to protect the company against a takeover threat.Robert T. Sprouse, "Accounting for treasury stock transactions: Prevailing practices and new statutory provisions." ''Columbia Law Review'' 59.6 (1959): 882-900online/ref> The United Kingdom equivalent of treasury stock as used in the United States is treasury share. Treasury stocks in the UK refers to gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Principal–agent Problem
The principal–agent problem refers to the conflict in interests and priorities that arises when one person or entity (the " agent") takes actions on behalf of another person or entity (the " principal"). The problem worsens when there is a greater discrepancy of interests and information between the principal and agent, as well as when the principal lacks the means to punish the agent. The deviation from the principal's interest by the agent is called " agency costs".''Pay Without Performance'', Lucian Bebchuk and Jesse Fried, Harvard University Press 2004preface and introduction) Common examples of this relationship include corporate management (agent) and shareholders (principal), elected officials (agent) and citizens (principal), or brokers (agent) and markets (buyers and sellers, principals). In all these cases, the principal has to be concerned with whether the agent is acting in the best interest of the principal. Principal-agent models typically either examine moral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
