This paper investigates the relationship between corporate governance and economic development and well-being. It finds that better corporate frameworks benefit firms through greater access to financing, lower cost of capital, better firm performance, and more favorable treatment of all stakeholders. Numerous studies agree that these channels operate not only at the level of the firms, but in s...

Do media play any role in corporate governance? In this paper we argue that media pressure corporate managers and directors to behave in ways that are “socially acceptable”. Sometimes this coincides with shareholders’ value maximization, others not. We provide both anecdotal and systematic evidence that media affect companies’ policy toward the environment and the amount of corporate resources ...

The type of financial system that emerges in transition economies is a result of path dependent development with an outcome determined primarily by two factors: the chosen model of privatisation and the degree of concentration of the banking system. Due to the specifically transitionary nature of former communist economies, in particular, due to wide scale privatisation that was carried out in ...

With increased privatization of natural resource regulation, green or sustainable public procurement policies are emerging as incentives for sustainable development. Thus, a revival of governmental influences on so-called non-state, market-driven governance systems takes place. The paper exemplifies this development by reference to the green public procurement directives for wood products in Ge...

This paper attempts to draw a synthetic picture of corporate governance in transition with emphasis on the efficiency implications of corporate governance, taking into account a) the heterogeneity of managerial skills, b) the diversity of restructuring tasks and financial situations of firms and c) political constraints. The focus is on the efficiency effects generated by the different kinds of...

The main achievements of the debates on deliberative democracy and democratised science are investigated in order to analyse the reasons, meanings and prospects for a democratisation of global environmental policy. A deliberative systems approach, which emphasises the need to explore how processes in societal spheres interact to shape the deliberative qualities of the system as a whole, is adop...

What motivates a company to become politically connected and what impact does political connectedness have on corporate policies? To address this question, we exploit an exogenous Supreme Court decision (Citizens United) that lifted all restrictions on corporate political contributions. We find a significant increase in the cash holdings levels of historically politically connected firms relati...

Exploring in public policy making of villagers participation is the key point in the scientification and democratization of the policy. This paper takes the deliberative governance model in Zhejiang Province as example to study why and how villagers can participate in rural public policy making and how villagers' wills are taken into account in rural governance in China nowadays. And an effecti...

The accentuated interest in the quality of governance along with the idea that ‘what is measured is what matters’ has been endorsing the deployment and use of quantitative governance indicators. Moreover, decentralization and public policies emphasising localism are putting the focus on local governments. This article addresses the challenges of developing indicators and using the information f...

The article presents the whole model of IS/IT architecture exception governance. As first, the assumptions of presented model are set. As next, there is defined a generic governance model that serves as a basis for the architecture exception governance. The architecture exception definition and its attributes follow. The model respects well known approaches to the area that are described in the...