Julian Le Grand
- Published in print:
- 2003
- Published Online:
- April 2004
- ISBN:
- 9780199266999
- eISBN:
- 9780191600869
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199266999.003.0009
- Subject:
- Economics and Finance, Public and Welfare
Discusses an idea for turning pawns into queens of which the author was an initiator: the idea of a universal stakeholder or demogrant to every young adult. A similar idea has been termed ...
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Discusses an idea for turning pawns into queens of which the author was an initiator: the idea of a universal stakeholder or demogrant to every young adult. A similar idea has been termed stakeholding grants or ‘baby bonds’, and the British Government has just introduced another version: the child trust fund. Gives the historical background to the idea, and locates it as part of the growing movement toward ‘asset‐based welfare’. Discusses its pros and cons, and the details of practical implementationLess
Discusses an idea for turning pawns into queens of which the author was an initiator: the idea of a universal stakeholder or demogrant to every young adult. A similar idea has been termed stakeholding grants or ‘baby bonds’, and the British Government has just introduced another version: the child trust fund. Gives the historical background to the idea, and locates it as part of the growing movement toward ‘asset‐based welfare’. Discusses its pros and cons, and the details of practical implementation
Ciaran Driver and Grahame Thompson (eds)
- Published in print:
- 2018
- Published Online:
- July 2018
- ISBN:
- 9780198805274
- eISBN:
- 9780191843402
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198805274.001.0001
- Subject:
- Business and Management, Corporate Governance and Accountability, Finance, Accounting, and Banking
This book addresses major modern controversies in corporate governance, clarifying the issues at stake and assessing the arguments for corporate reform. The main focus is on governance of the large ...
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This book addresses major modern controversies in corporate governance, clarifying the issues at stake and assessing the arguments for corporate reform. The main focus is on governance of the large organizations that employ the majority of workforces in developed economies and which account for most of the finance and refinance of the private sector. Shareholder value and shareholder primacy are now under increasing scrutiny having previously been positioned as natural precepts of governance. The book joins that debate with a critique and also with suggestions for company reform that allow for plurality within jurisdictions: the trust firm, industrial foundations, social enterprises, the ‘benefit corporation’, restricted voting rights, employee representation etc. The book addresses several sets of controversies in corporate governance. Part 1 places the corporate form within the context of legal constitution and governmental regulation. The second set of chapters considers corporate governance systems and their role in innovation and adaptation. The chapters in part 3 discuss labour relations and worker involvement in the governance of companies. Part 4 widens the focus to consider effects external to the firm—on consumer interests and the environment. What these issues point to is that the modern corporation is not only an economic institution but also a cultural and political one, reflecting the firm’s role in civil society The overall theme is that the corporate governance agenda has been on the wrong track and needs to be fundamentally reset.Less
This book addresses major modern controversies in corporate governance, clarifying the issues at stake and assessing the arguments for corporate reform. The main focus is on governance of the large organizations that employ the majority of workforces in developed economies and which account for most of the finance and refinance of the private sector. Shareholder value and shareholder primacy are now under increasing scrutiny having previously been positioned as natural precepts of governance. The book joins that debate with a critique and also with suggestions for company reform that allow for plurality within jurisdictions: the trust firm, industrial foundations, social enterprises, the ‘benefit corporation’, restricted voting rights, employee representation etc. The book addresses several sets of controversies in corporate governance. Part 1 places the corporate form within the context of legal constitution and governmental regulation. The second set of chapters considers corporate governance systems and their role in innovation and adaptation. The chapters in part 3 discuss labour relations and worker involvement in the governance of companies. Part 4 widens the focus to consider effects external to the firm—on consumer interests and the environment. What these issues point to is that the modern corporation is not only an economic institution but also a cultural and political one, reflecting the firm’s role in civil society The overall theme is that the corporate governance agenda has been on the wrong track and needs to be fundamentally reset.
Ciaran Driver (ed.)
- Published in print:
- 2018
- Published Online:
- July 2018
- ISBN:
- 9780198805274
- eISBN:
- 9780191843402
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198805274.003.0011
- Subject:
- Business and Management, Corporate Governance and Accountability, Finance, Accounting, and Banking
In this chapter I first review the current state of play in corporate governance debates, highlighting challenges to the dominant agency view. Following a critique of the economic reasoning ...
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In this chapter I first review the current state of play in corporate governance debates, highlighting challenges to the dominant agency view. Following a critique of the economic reasoning supporting shareholder primacy I consider two contrasting approaches to fixing the problems of labour engagement and capital commitment that affect economic performance. These approaches—which could loosely be called stakeholding—differ in the emphasis given to the roles of management on the one hand and governance on the other in addressing the identified problems. I analyse them here in respect of their logical consistency and also their feasibility. A management-oriented approach is unlikely in itself to be sufficient but it may help in creating the underlying institutional supports needed for governance reform.Less
In this chapter I first review the current state of play in corporate governance debates, highlighting challenges to the dominant agency view. Following a critique of the economic reasoning supporting shareholder primacy I consider two contrasting approaches to fixing the problems of labour engagement and capital commitment that affect economic performance. These approaches—which could loosely be called stakeholding—differ in the emphasis given to the roles of management on the one hand and governance on the other in addressing the identified problems. I analyse them here in respect of their logical consistency and also their feasibility. A management-oriented approach is unlikely in itself to be sufficient but it may help in creating the underlying institutional supports needed for governance reform.
Jago Penrose
- Published in print:
- 2017
- Published Online:
- November 2017
- ISBN:
- 9780198753940
- eISBN:
- 9780191815720
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198753940.003.0011
- Subject:
- Business and Management, Business History, Strategy
This chapter comprises a description of Edith’s influential book, The Theory of the Growth of the Firm, how it came to be written, and its main arguments. It is often called revolutionary. She showed ...
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This chapter comprises a description of Edith’s influential book, The Theory of the Growth of the Firm, how it came to be written, and its main arguments. It is often called revolutionary. She showed that the human resources required for the management of change are tied to the individual firm and so are internally scarce. As management tries to make the best use of the resources available, a ‘dynamic’ interacting process occurs which encourages growth but limits the rate of growth. The book was an important step towards modern, liberally minded management concepts, developing the resource-based and knowledge-based perspective, and ultimately including the theory of stakeholding, in which the interests of employees, customers, and the community count alongside those of shareholder owners.Less
This chapter comprises a description of Edith’s influential book, The Theory of the Growth of the Firm, how it came to be written, and its main arguments. It is often called revolutionary. She showed that the human resources required for the management of change are tied to the individual firm and so are internally scarce. As management tries to make the best use of the resources available, a ‘dynamic’ interacting process occurs which encourages growth but limits the rate of growth. The book was an important step towards modern, liberally minded management concepts, developing the resource-based and knowledge-based perspective, and ultimately including the theory of stakeholding, in which the interests of employees, customers, and the community count alongside those of shareholder owners.
Thom Brooks
- Published in print:
- 2016
- Published Online:
- October 2016
- ISBN:
- 9780190243098
- eISBN:
- 9780190243104
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190243098.003.0007
- Subject:
- Political Science, Political Theory, American Politics
Mass incarceration is at near pandemic proportions and yet there is evidence of poor public confidence in how sentencing is handled by the criminal justice system with many finding the courts too ...
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Mass incarceration is at near pandemic proportions and yet there is evidence of poor public confidence in how sentencing is handled by the criminal justice system with many finding the courts too lenient. This chapter considers this problem about public confidence and sentencing from a distinctive angle: if public confidence in sentencing is so poor, then why not include the public more in sentencing decision-making? Restorative justice is a welcome first step about how the public can participate effectively with high satisfaction and lower reoffending at less cost. The chapter argues that restorative justice should be expanded to include more punitive outcomes, including hard treatment, in what the author calls “punitive restoration.” More punitive options for restorative justice may increase its applicability and positive outcomes like improved public confidence while embedding it further into the criminal justice system.Less
Mass incarceration is at near pandemic proportions and yet there is evidence of poor public confidence in how sentencing is handled by the criminal justice system with many finding the courts too lenient. This chapter considers this problem about public confidence and sentencing from a distinctive angle: if public confidence in sentencing is so poor, then why not include the public more in sentencing decision-making? Restorative justice is a welcome first step about how the public can participate effectively with high satisfaction and lower reoffending at less cost. The chapter argues that restorative justice should be expanded to include more punitive outcomes, including hard treatment, in what the author calls “punitive restoration.” More punitive options for restorative justice may increase its applicability and positive outcomes like improved public confidence while embedding it further into the criminal justice system.
