The Development of Corporate Governance in China

The provided content discusses the development of corporate governance in China and its relationship with ethical leadership. It also explores the role of institutional investors, value drivers for firm performance, social responsibility, and risk management in corporate governance. The articles highlight the importance of core values such as ethics, integrity, and accountability in governing corporations.

CASE STUDY
ANALYSIS

Table of Contents
Case study........................................................................................................................................1
Main corporate governance issues..........................................................................................1
Regulation upon the issues.....................................................................................................2
Case study analysis..........................................................................................................................3
Issues addressed by the organization......................................................................................5
Addressing the fundamental issues........................................................................................6
Similar events in the UK........................................................................................................7
Current system of corporate governance and accountability in the UK.................................8
Lessons learnt from this case................................................................................................10
Would you invest in this firm...............................................................................................11
REFERENCES..............................................................................................................................12

Case study
Main corporate governance issues
It has been identified that British Home Stores faces certain issues related to corporate
governance and ethics so that shareholders could be benefited and overcome leadership failures.
Moreover, such failures results in decreasing the efficiency of firm and shut down varied stores.
Therefore, it is essential for business to maintain BHS and improve its financial break down so
that brand image and reputation within firm could be raised. It also involves different regulatory
practices and threatens business success so that enhancement in business functions could be
carried out (Tricker and Tricker, 2015). It also assesses different regulatory concerns so that
appropriate leadership practices and impacts upon the brand image of firm in market. Such
identified issues assesses in breakdown of BHS and impacts upon brand image in market. All
such issue needs to be identified. It has also been assessed that incompetent leaders and personal
greed of shareholders into main overcoming corporate governance risk and also improve
reputation of firm in market. It is the major source through BHS helps in improving its efficiency
and attain desired targets. However, through such failures of corporate governance and ethics it
helps in improving business performance (Rothaermel, 2015).
Through identifying different theoretical aspects it could be stated that corporate
governance is the main system of rules, practices and processes through which BHS needs to
effectively directed and controlled its activities. Also, it is one of the effective way that aims to
balance the interest of business stakeholders and identify their needs so that improvement could
be carried out in an effective way (Soltani and Maupetit, 2015). Also, developing effective
strategy in executing the process in relation to improve business actions needs to safeguard the
interest of its shareholder and also protects the environment. Further, carrying out effective
practices helps in improving corporate governance and manage the business activities which in
turn results in enhancing business performance and overcome issues faced by firm in market.
Preparing effective strategy helps in encompassing profits but also helps in carrying out effective
work so that set operations could be carried out (ArAs, 2016).
Moreover, ethical and corporate governance is the best way through which it improves
business performance and minimize in an effective way so that managers and shareholders need
to be improved so that appropriate outcomes could be carried out. Further, it also focuses upon
improving the ethics and corporate governance issues and attain desired success. Moreover, in
1

regard to improve such issues and aim to enhance business performance and provide integration
so that performance could be raised (Bodie, 2013). Identifying issues related to corporate
governance and ethics results in overcoming the issues so that management need to carry out
effective perspective and improves business performance in market. Hence, it is essential to
overcome such ethical standards and helps businesses in performing desired actions which aims
to carry out appropriate decision and this train its employees towards maintaining such standards
and ethical issues need to be focused (Khan, Muttakin and Siddiqui, 2013).
Management of BHS aims to identify the vision of business so that performance of firm
could be improved. Therefore, it is significant for firm to carry out effective results so that
corporate governance and ethical issues need to be maintained. Hence, identifying the issues
related to corporate governance and ethical issues could be resolved so that appropriate
modification could be attained (Zahra, 2014). Management of BHS aims to improve its products
or services in terms of raising the business performance and also evaluate appropriate outcomes
so that customer satisfaction can be achieved.
Regulation upon the issues
Management of BHS implements effective regulation upon the issue so that it does not
affect the customers or any other stakeholder. Therefore, through carrying out effective
regulation practices it results in identifying the issues and improve the working of business. It
has been identified that businesses are created by legal persons and therefore, it also operates as
legal entity therefore they are regulated by legal actions. However, it would vary from country to
country (Rahim and Alam, 2014). Thus, allowing business to develop own legal action and
develop corporate existence might arise fro general purpose legislation to specific. Through
formulating statutory laws it assists businesses to formulate common law and regulate effective
business practices so that appropriate actions could be undertaken. In relation to carry out
effective corporate governance principles, business aims to carry out effective code and does not
impact upon the performance of firm in market (Schneider and Scherer, 2015). Such regulation
affects businesses in relation to enhance the business operations and execute the functions in an
effective way. Further, through executing code of practice and regulation in developing effective
standards so that it regulates business practices and do not impact upon the performance of firm
in market.
2

Through carrying out effective practices it is essential for firm to identify the issue and
carry out effective corporations and corporate governance and ethical issues and improve
business performance. Corporate Governance and ethical issues include government agencies
and carry out effective practices in relation to attain organizational objectives. There are different
shareholders which are involved such as suppliers, customers, creditors and employees etc. so
that corporate governance needs to be maintained so that appropriate outcomes could be carried
out in an effective way (McAlister, Marcos and Ferrell, 2016). Through adopting effective
regulation it results in carrying out best practices so that corporate governance issues need to be
maintained and enhance the performance of firm in market. Thus, identifying the business
strategies in carrying out effective performance so that provision of goods and services need to
be developed and enhance the appropriate quality goods so that corporate governance need to be
maintained and raise the performance of firm in market (Jizi and et. al., 2014). Legal and
regulatory aspects need to be carried out so that best results could be attained. Thus, adopting
effective practices resulting in improving corporate governance aims to improve business
performance so that set objectives could be attained. However, improving success in market in
enhancing BHS targets and overcoming issues realted to ethics.
Case study analysis
Ultimate aim of any organization is to gain maximum profit. This is only possible when
management is able to understand their customers and satisfy them. This is only possible when
they are able to fulfil them with the help of products and services that are delivered by them
(Armstrong, Blouin and Larcker, 2015). There are many organizations that deliver their
customers with similar products and services. In order to be effective, they make use of strategies
through which they can develop strong customers base. Business performance of the firm gets
negatively affected when the issues that are faced within the organization are not considered.
There are different departments within the organization and it is important that they work
together in order to achieve the goals and objectives. As per the present case, British Home
Stores (BHS) was one of the fastest growing organization. However, due to the issues faced by
them drastically affected the business, it performance, image, etc. (Claessens and Yurtoglu,
2013). When customers develop negative perception over the business, then growth of the firm
affects negatively. In accordance with the case, there are different type of issues related to
corporate governance faced at BHS. In this context, it includes failure of leadership.
3

For all the organization, it is important to have leaders who are able to direct and guide
workers. Each and every operation of the organization are divided into various department and
for each of them there are workers who need to be controlled so that they perform their role and
responsibilities effectively and efficiently (Kato, Li and Skinner, 2017). As per the case, leaders
of BHS were not able to part of role effectively. Due to this issue, employees were not able to
perform their role in an effective manner. With this respect, this way there are other issues raised
like dissatisfaction of customers, reduction in sales and profitability, etc.
Another set of issuers that are faced by cited firm is related with innovation. With time,
there are many changes that take place within the taste and preferences of customers. It is
important to make sure that the changes as per preference are determined and proper changes are
made in products and services so that customers can be satisfied (Lin, Liu and Zhang, 2016).
There are certain expectations that services users have for the type of products that are
preference by them. When these expectations are satisfied, then they make purchase decision.
Further, there are companies that deliver similar products and services. They focus on
understanding the requirement of customers and make innovations in their products. BHS lack
this part of aspects and there are no innovations that are made by them. This is a type of
corporate governance issue that is faced by management.
Further, BHS also includes issues in relation with finance. There are different set of
activities that are performed and for each of them it requires financial support so that they will be
able to complete them in an effective manner (Filatotchev and Nakajima, 2014). There are
different sources that are determined and these are helpful to get financial support so that they
are able to achieve the desired goals. There are many market around the world, in which they
have expanded their business. It becomes to make their business perform effectively when the
firm do not have proper financial support. Further, there are requirement of employees so that
they will be able to deliver proper quality of services. In this context, it includes financial support
for tools and equipments, maintaining culture, etc.
Lastly, there is another type of issue that is faced by BHS and that is management of
employees. Workers are the face of organization as they have direct interaction with customers,
they are the one who deliver the products and services that is provided by the organization (Jizi,
Salama and Stratling, 2014). In case, if they are not skilful or capable, then it has negative impact
over the business and perception of employees. It is important to make sure that all the roles and
4

responsibilities are divided as per the type of skills they possess. This way management get to
fulfil their desired goals and objectives. There are conditions that are identified by the
organization in which workers are not able to deliver proper quality services. There are many
reasons for this issue. With this respect, it includes lack of motivation, lack of training, etc.
Issues addressed by the organization
All the issues that they have identified were addressed by the management. It is important
to make sure that all the stakeholders who are involved in the operations are conveyed about the
issues that are faced. With this respect, it is essential that management provide them with
information so that they understand the present condition (McAlister, Marcos and Ferrell, 2016).
If cited firm would have provided information about the issuers, then the rate issues could have
been reduced. When only top management are involved in decision making, then the suggestions
that will be provided by them will always on the type of experience they have. However, if all
the stakeholders are involved, then it will become favourable to get different type of suggestion
through which the raised issue can be solved. Different people have diverse set of perception
over the situation that is present to them (Tricker and Tricker, 2015). Further, the alternative
ways to overcome them will be different. When stakeholders are involved, then it becomes easy
to select the best way to resolve the problem. Further, the response of the employees will not be
favourable as employees tent to support the management when they are provided with services
that are helpful to satisfy them. There are conditions in which workers get to understand the
condition of management and take up steps to support them when workers are provided with the
opportunity to get involved in decision making. As per the case, one of the main issue that the
BHS was facing is related with failure of leadership (Yu, Krause and Bruton, 2016). There are
different type of leadership styles that can be followed by the business. In this context, one of the
effective leadership style is democratic style. This is a type of style in which workers are
provided with the opportunity to make decision. Workers work closely with customers and so
they know the issues that are faced by them. When employees are encouraged to take part in
decision making, then it is helpful enough to boost the moral and to develop a perception of
importance from the organization (Mishra and Mohanty, 2014). Another type of issues was
related to innovation, when there is condition in which all the problems are share with the
stakeholders, then they will be able to get different ways with the help of which innovations
5

could have been done. This is an important aspect that is helpful to attain competitive advantage.
Further, when there is proper interaction with employees, then this helps to develop trust and
confidence with the mind of workers. They will share the issues that are faced by them.
Accordingly, steps can be take up to overcome the problem that are faced by them in the
organization.
Addressing the fundamental issues
When the issues are discussed with stakeholders, then all the aspects should be discussed.
In this context, it includes the merits and demerits, etc. In case, there would have been a proper
response yet to be discussed, then it will be effective when the experience that workers have will
enable to make sure that there are effective decisions made (Jiang and Kim, 2015). Further,
leaders play vital role in order to encourage workers to perform with their full efficiency. When
the leaders not effective, then the rate of performance of the employees will get negatively
affected. The response of the stakeholders will be effective when they understand the condition
and the situation that is faced by the firm. It is important to make sure leaders have proper
support of employees. However, as per the case, the leadership that was followed within BHS
got failed. Due to this, the performance of the firm get affected in negative manner. Further, the
management was facing issue related to finance (Iliev, Lins and Roth, 2015). There are different
type of activities that are considered by the organization so that all the aspects can be met.
However, BHS were not able to achieved their desired goals due to lack of financial support.
There are many numbers of stores that are available at UK but 164 of the stores got closed out.
This was because of the risk that management faced due to improper financial support. Further,
another type of issues that were faced were related with management of employees. There were
different type of issues that were faced by workers and this was because of the improper relation
that management were not able to maintain (McCahery, Sautner and Starks, 2016). Response of
the employees will be made when workers have developed a perception that all the issues that
are faced by them will be solved by the organization. When workers are provided with a healthy
working environment, then they fail to put on their full efforts to support the firm. There are
different reasons that are identified due to which workers fail to perform effectively. In this
context, one of the main reason is due to lack of understanding towards the type of roles and
responsibilities that has to be performed by them. It is important that management measure that
6

performance of each of the worker. This way the areas in which improvement is required can be
identified and accordingly they can be provided with training and development so that they will
be able to clarify all the doubts that they have over the work they perform (Haque, Deegan and
Inglis, 2016). They way workers will be able to put on their full efforts to support the firm in
achieving their organizational goals and objectives.
Similar events in the UK
In order to perform day to day activities, there are different type of issues or problems
that are faced within the organization. There are many organizations that are facing issue in
relation with corporate governance. For example, Tesco which is one of the well known
organization that falls under retail industry. Cited firm is facing issue in relation with employees
management. There are many numbers of workers who are provided with different type of work
(McNulty, Zattoni and Douglas, 2013). There are conditions in which management of Tesco is
not able to provided them with then healthy environment in which they can perform their set of
roles and responsibilities. With this respect, it is important to make sure that management is able
to consider the issues that are faced by workers. Customers tent to make purchases when they get
to know that the product and services that provided by the firm will enable to fulfil their
requirement. Further, it is important to make sure that workers are provided with all type of tools
and equipments so they will be able to satisfy their customers (Armstrong, Blouin and Larcker,
2015). Similarly, there are other type of issues like innovation is also faced by many of the
organization as there are many organizations in each sector that deliver their customers with
similar type of products and services. This provide customers with opportunity to select the best
product that satisfy their requirement. With time the changes in taste and preference of customers
take place frequently. When innovations are not made, then it affects the business negatively.
This way it becomes helpful to understand the requirement of customers and to make sure that
adequate steps are taken by the firm in order to make sure that requirement are fulfilled. Further,
one of the effective way to over this type of issue is by making use of research (Claessens and
Yurtoglu, 2013). This will enable to understand the changes that has taken place and
accordingly, changes in the product can be made with the help of which customers can be
satisfied. Further, there are also issues faced in relation with difference in decisions. This occurs
due to the diverse set of perception that individuals have over the work they perform. This
7

creates issues in order to come up with an appropriate decision that management is willing to
make. From this, it can be stated that all the companies face this type of issues and they need to
consider all the aspect with the help of which problems can be solved. This way it can be stated
that, companies can only take up and determine proper steps that will help them to reduce the
negative impact.
Current system of corporate governance and accountability in the UK
Current system of corporate governance and accountability within UK is not sufficient to
deal with the issues that are faced by the organization (Kato, Li and Skinner, 2017). There are
different type of laws that are being made by government to make sure that all the organizations
have healthy competition. Further, all the negative ways that are followed by them are
eliminated. When any of the firm are caught to perform illegal activity, then it affects the image
of the firm in front of customers. Service users prefer to make use of the products when they are
delivered to them without any type of problems or issues. It is important to make sure that there
is frequent analysis made by the organization so that they get to know the problems that are
faced by workers. They are the one who have direct interaction with customers (Lin, Liu and
Zhang, 2016). It can be evaluated that the current system of corporate governance and
accountability in the UK is needs to be addressed so that issues related to corporate governance
and ethical issues could be addressed. Thus, it results in influencing the shareholders and develop
effective practices so that current system could be developed in terms of improving market share.
Currently corporate governance and accountability issues in UK needs to be improved so
that businesses could not get affected and carry out desired business outcomes. Government
formulates different types of laws in order to ensure that healthy competition could be made
within firms and enhance the sales and profitability level. It assists businesses to overcome all
their negative ways which influence businesses to avoid in an effective way. For instance, if any
firm is caught while doing illegal activity then it might impact their brand image among
consumers and decrease their profitability as well (Filatotchev and Nakajima, 2014). Thus,
consumers aim to ensure that they intend to regularly purchase the products when business
delivers it to them without any delay. Also, it is essential for firm to ensure that proper analysis is
being done by business so that they could identify the issues being faced by them in satisfying
the needs of workers. Businesses need to develop direct interaction with its customers in relation
8

to raise their performance so that success could be attained. It also focuses upon developing
current system of corporate governance and accountability in UK and addresses that issues
related such aspect need to be informed and it needs to be undertaken in relation to overcome the
issues and attain desired success. Also, business focuses upon influencing the needs of its
shareholders in BHS and develop effective practices so that current system need to be developed
which results in enhancing the market share (Nica, 2013).
One of the major advantages of UK approach obtains high standards of corporate
governance with relatively low associated costs. It is essential for UK government to assess the
corporate governance and issues related to them and identifies the lack of prescription so that
company could encourage their responsibilities and develop Corporate Governance Code that
results in carrying out good practice and adopt a different approach which might result in more
suitable as per the circumstances (Singer, 2015). Also, there is a key relationship within
company and its shareholders not within the firm and securities regulator in order to engage and
corporate governance matters. It is essential for BHS shareholder to possess effective voting
rights so that they can use information provided to them and enable them to hold the board and
accountable to them (Adegbite, 2015).
Development of corporate governance in UK and focuses upon carrying out a series of
actions so that corporate governance could be developed in the country. However, it has been
identified that developing good corporate governance helps in improving the ability of boards so
that BHS requires informing its directors and stakeholders that good corporate governance has
been developed which helps in improving business operations and thus results in performing the
desired actions so that success could be attained. It also possesses the ability to manage the
company effectively and deliver long term consequences in setting business model which results
in improving success (González and García-Meca, 2014).
It is one of the effective regulatory framework that helps in improving standards of
corporate governance and assists business to recognise that governance should support not
constrain the entrepreneurial leadership of firm in regard to ensure risk that needs to be properly
managed. Developing the current system by UK government in relation to maintain corporate
governance and accountability helps in improving the business performance (Klettner, Clarke
and Boersma, 2014). It is the best approach and help businesses to undertake effective
governance practices and results in improving the performance so that set standards could be
9

attained. However, corporate governance depends upon certain factors such as size, ownership
structure and complexity of its activities. Through assessing company's governance practices are
considered as effective and underpin sustainable success of BHS and help shareholders so that
best practice could be carried out in an effective way. Also, developing long term interest within
firm ensures that investors possess all the information in order to make that assessment (Tricker
and Tricker, 2015).
Lessons learnt from this case
There are different lessons that has been learnt from the case of BHS regarding corporate
governance and ethical issues being faced by business in UK. Therefore, it is significant for firm
to address these issues and carry out current system of corporate governance and accountability
in UK which is crucial in regard to deal with these issues (Rothaermel, 2015). Main lessons that
has been learnt from the given case that BHS faces issues regarding corporate governance and
ethical issues and learn from such issues in order to overcome the issue faced by business. It is
also essential for firm to improve its corporate responsibility through developing ethical issues
and results in improving ethical governance and attain the best outcomes. Here, knowledge has
been developed regarding governance, ethics and risk so that they could improve its products or
services in relation to improve business performance so that success need to be improved in
market (Soltani and Maupetit, 2015). Therefore, it helps in improving business ethics and
corporate governance in relation to carry out effective practices. Hence, it assists in developing
effective lessons so that governance, risk and ethics within the case of BHS could be improved
and enhance the desired results.
Moreover, it is crucial for businesses to carry out effective CSR and ethics regulations so
that it needs to be improved and businesses could safeguard their interests. Moreover, UK
businesses are facing issues related to corporate governance and ethics and it assists in measuring
performance of firm which aims to carry out their performance in target market (ArAs, 2016). It
results them to undertake effective business practices and thus governance, risk and ethics need
to be managed in terms of improving business success. Through carrying out different lesson it
helps in improving corporate governance and risk and ethics so that business could overcome its
issues and results in improving its efficiency so that performance could be improved.
10

Would you invest in this firm
It is ons of the major decision that needs to be undertaken by stakeholders and results in
carrying out investment in BHS. It also proves to the best decision as it results in improving the
efficiency so that overall performance of firm could be carried out effectively and efficiently.
Moreover, carrying out effective performance it is essential for shareholders to enhance their
dividends as profit within firm is increasing (Zahra, 2014). Business need to provide proper
information to shareholders about governance, risk and ethics so that it would provide
appropriate results so that investment could be enhanced. It is also significant for business to
improve their services and thud deliver appropriate products or services to customers. Thus, it is
considered as the best way and carries out effective performance and improves BHS market
share and size. Also, it is essential to carry out general lessons in relation to carry out effective
practices and raise the investment level. Therefore, it is considered as one of the effective
measures which results in enhancing investment so that governance, risk and ethics issue could
be identified and provide appropriate solutions so that it could be overcome (Rahim and Alam,
2014).
The decision of investing within BHS so that they can enhance their operations in market.
Another decision in relation to carry out effective decision and enhance invest within business.
Through carrying out such decision it results in enhancing the business performance and
undertake effective decision so that it aids in improving performance of firm in market
(Schneider and Scherer, 2015). Also, effective decision needs to be made so that appropriate
results could be obtained. It is significant to make investment decision and raise its performance
level in regard to attain best results. Through improving the corporate governance practices it
results in improving code of conduct and comply with the practices so that desired results could
be carried out. Moreover, it is the best way through which investment decision could be taken by
individual. Through investing within BHS aims to obtain maximum investment (McAlister,
Marcos and Ferrell, 2016).
11

REFERENCES
Books and journals
Adegbite, E., 2015. Good corporate governance in Nigeria: Antecedents, propositions and
peculiarities. International Business Review, 24(2), pp.319-330.
ArAs, G., 2016. A handbook of corporate governance and social responsibility. CRC Press.
Armstrong, C. S., Blouin, J. L. and Larcker, D. F., 2015. Corporate governance, incentives, and
tax avoidance. Journal of Accounting and Economics. 60(1). pp.1-17.
Bodie, Z., 2013. Investments. McGraw-Hill.
Claessens, S. and Yurtoglu, B. B., 2013. Corporate governance in emerging markets: A
survey. Emerging markets review. 15. pp.1-33.
Filatotchev, I. and Nakajima, C., 2014. Corporate governance, responsible managerial behavior,
and corporate social responsibility: organizational efficiency versus organizational
legitimacy?. The Academy of Management Perspectives, 28(3), pp.289-306.
Filatotchev, I. and Nakajima, C., 2014. Corporate governance, responsible managerial behavior,
and corporate social responsibility: organizational efficiency versus organizational
legitimacy?. The Academy of Management Perspectives. 28(3). pp.289-306.
González, J.S. and García-Meca, E., 2014. Does corporate governance influence earnings
management in Latin American markets?. Journal of Business Ethics, 121(3), pp.419-440.
Haque, S., Deegan, C. and Inglis, R., 2016. Demand for, and impediments to, the disclosure of
information about climate change-related corporate governance practices. Accounting and
Business Research. 46(6). pp.620-664.
Iliev, P., Lins, K. V. and Roth, L., 2015. Shareholder voting and corporate governance around
the world. Review of Financial Studies. 28(8). pp.2167-2202.
Jiang, F. and Kim, K. A., 2015. Corporate governance in China: A modern perspective.
Jizi, M. I., Salama, A. and Stratling, R., 2014. Corporate governance and corporate social
responsibility disclosure: Evidence from the US banking sector. Journal of Business
Ethics. 125(4). pp.601-615.
Jizi, M.I. and et. al., 2014. Corporate governance and corporate social responsibility disclosure:
Evidence from the US banking sector. Journal of Business Ethics, 125(4), pp.601-615.
12

Kato, K., Li, M. and Skinner, D. J., 2017. Is Japan Really a “Buy”? The Corporate Governance,
Cash Holdings and Economic Performance of Japanese Companies. Journal of Business
Finance & Accounting.
Khan, A., Muttakin, M.B. and Siddiqui, J., 2013. Corporate governance and corporate social
responsibility disclosures: Evidence from an emerging economy. Journal of business
ethics, 114(2), pp.207-223.
Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability:
Empirical insights into the development, leadership and implementation of responsible
business strategy. Journal of Business Ethics,122(1), pp.145-165.
Lin, Z. J., Liu, M. and Zhang, X., 2016. The Development of Corporate Governance in
China. Asia-Pacific Management Accounting Journal. 1(1).
McAlister, D. T., Marcos, S. and Ferrell, O. C., 2016. Corporate governance and ethical
leadership. Business Ethics: New Challenges for Business Schools and Corporate Leaders:
New Challenges for Business Schools and Corporate Leaders. pp.56.
McAlister, D.T., Marcos, S. and Ferrell, O.C., 2016. Corporate governance and ethical
leadership. Business Ethics: New Challenges for Business Schools and Corporate Leaders:
New Challenges for Business Schools and Corporate Leaders, p.56.
McCahery, J. A., Sautner, Z. and Starks, L. T., 2016. Behind the scenes: The corporate
governance preferences of institutional investors. The Journal of Finance.
McNulty, T., Zattoni, A. and Douglas, T., 2013. Developing corporate governance research
through qualitative methods: A review of previous studies. Corporate Governance: An
International Review. 21(2). pp.183-198.
Mishra, S. and Mohanty, P., 2014. Corporate governance as a value driver for firm performance:
evidence from India. Corporate Governance. 14(2). pp.265-280.
Nica, E., 2013. Social Responsibility, Corporate Welfare, and Business
Ethics. Psychosociological Issues in Human Resource Management, 1(1), pp.9-14.
Rahim, M.M. and Alam, S., 2014. Convergence of corporate social responsibility and corporate
governance in weak economies: The case of Bangladesh. Journal of Business
Ethics, 121(4), pp.607-620.
Rothaermel, F.T., 2015. Strategic management. New York, NY: McGraw-Hill.
13

Schneider, A. and Scherer, A.G., 2015. Corporate governance in a risk society. Journal of
Business Ethics, 126(2), pp.309-323.
Singer, A., 2015. There is no Rawlsian theory of corporate governance.Business Ethics
Quarterly, 25(01), pp.65-92.
Soltani, B. and Maupetit, C., 2015. Importance of core values of ethics, integrity and
accountability in the European corporate governance codes.Journal of Management &
Governance. 19(2), pp.259-284.
Tricker, R. B. and Tricker, R. I., 2015. Corporate governance: Principles, policies, and
practices. Oxford University Press, USA.
Tricker, R.B. and Tricker, R.I., 2015. Corporate governance: Principles, policies, and practices.
Oxford University Press, USA.
Yu, X., Krause, R. A. and Bruton, G. D., 2016, January. A Configurational Exploration of
Family Relationships, Corporate Governance, and Firm Performance. In Academy of
Management Proceedings (Vol. 2016, No. 1, p. 10063). Academy of Management.
Zahra, S.A., 2014. Public and corporate governance and young global entrepreneurial
firms. Corporate Governance: An International Review, 22(2), pp.77-83.
14