The Sage Handbook of Corporate Governance
With the shockwaves of the global financial crisis still reverberating around the global economy and with the News of the World scandal and the Libor interest rate rigging debacle still playing out beyond the UK, corporate governance remains an urgent concern for academics, and corporate and community leaders. The SAGE Handbook of Corporate Governance offers a timely examination of governance issues in this context and makes a threefold contribution to the corporate governance field. First, it challenges the primacy of agency theory and its associated privileging of shareholder value as the appropriate, and indeed only, measure of corporate performance – Margaret Blair’s chapter dissecting the myths around the legal duties of directors and the doctrine of shareholder primacy is particularly enlightening. Second, it grapples with the complex relationship between corporate governance and other fundamentals of the modern business context – value creation, innovation and strategy. Finally, while traversing issues commonly associated with corporate governance – executive remuneration and the behaviour and composition of boards – the handbook also provides an eloquent argument for the extension of current definitions of corporate governance to encompass corporate social responsibility and sustainability. In doing so, it begins to answer the question, not of what corporate governance was or is, but more importantly, what it should be in the future.
UTS Business School
The Sage Handbook of Corporate Governance is edited by: Thomas Clarke and Douglas Branson
Thomas Clarke is a Professor of Management and the Director of the Centre for Corporate Governance at UTS.
This review was first published in the UTS U: Magazine October 2012.