Management governance and ethics pdf
Corporate Governance and Business Ethics | SpringerLinkThis volume explores corporate governance from three perspectives: a traditional economic, a philosophical, and an integrated business ethics perspective. Corporate governance has enjoyed a long tradition in the English-speaking world of management sciences. Following its traditional understanding it is defined as leadership and control of a firm with the aim of securing the long-term survival and viability of that firm. But recent business scandals and financial crises continue to provide ample cause for concern and have all fuelled interest in the ethical aspects. As a result, corporate governance has been criticized by many social groups. Economic sciences have failed to provide a clear definition of the corporate governance concept.
Corporate Governance and Business Ethics
Since the origin of commerce, the ethical basis of business has been in question. In the ancient Greek civilisation Aristotle could readily distinguish between the basic trade required for an economy to function, and trade for profit which could descend into unproductive usury Solomon , Most major world religions cast a sceptical eye on business, including Christianity, Islam and Confucianism. As technological change advanced with the industrial revolution, there occurred a wider diffusion of ownership of many large companies as no individual, family or group of managers could provide sufficient capital to sustain growth. However any hope of a wider sense of fiduciary duty in corporations was eroded away in the later decades of the twentieth century in the Anglo- American world, as capital markets became more aggressive and unstable, and executive compensation was propelled upwards by stock options. A succession of cycles of booming economies, followed by market collapse and recession, culminated in — in the first global financial crisis, which was also a crisis in governance and regulation. The most severe financial disaster since the Great Depression of the s exposed the dangers of unregulated markets, nominal corporate governance, and neglected risk management.
You are currently using the site but have requested a page in the site. Would you like to change to the site? Rao Vallabhaneni. Rao Vallabhaneniis an educator, author, publisher, consultant, and practitioner in the business field, with more than thirty years of management and teaching experience in manufacturing, finance, accounting, auditing, and information technology. He has authored more than fifty books on business. Request permission to reuse content from this site. Undetected location.
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Rao Vallabhaneniis an educator, author, publisher, consultant, and practitioner in the business field, with more than thirty years of management and teaching experience in manufacturing, finance, accounting, auditing, and information technology. He has authored more than fifty books on business. If you do not receive an email within 10 minutes, your email address may not be registered, and you may need to create a new Wiley Online Library account. If the address matches an existing account you will receive an email with instructions to retrieve your username. Skip to Main Content. First published: 2 January