It has become almost a truism to describe the interaction between research ethics committees and researchers as being marred by distrust and conflict. The ethical conduct of researchers is increasingly a matter of institutional concern because of the degree to which non-compliance with national standards can expose the entire institution to risk. This has transformed research ethics into what some have described as a research ethics industry. In an operational sense, there is considerable focus on modifying research behaviour through (...) a combination of education and sanctions. The assessment of whether a researcher is ethical is too often based on whether they submit their work for review by an ethics committee. However, is such an approach making a useful contribution to the actual ethical conduct of research and the protection of the interests of participants? Does a focus on ethical review minimise institutional risk? Instead it has been suggested that ethics committees may be distorting or frustrating useful research and are promoting a culture of either mindless rule following or frustrated resistance. An alternative governance approach is required. There is a need for a strong institutional focus on promoting and supporting the reflective practice of researchers through every stage of their work. By situating research ethics within the broader framework of institutional governance, this paper suggests it is possible to establish arrangements that actually facilitate excellent and ethical research. (shrink)

Corporate governance guidelines are a mechanism that a firm can enact which should reduce agency costs and better align the interests of boards and the suppliers of capital. This study examines stock price reactions primarily attributable to institutional investors occurring when corporations announce the enactment of corporate governance guidelines. A final sample of 77 firms was derived from the first announcement of corporate governance guidelines exclusive to the SEC-EDGAR database. The results indicate that good governance (...) does matter. Firms that announced the enactment of corporate governance guidelines experienced increased stock prices following the announcements. There was an immediate (days 1–4) reaction for firms that provided all or part of the guidelines’ substance; a delayed (days 8–10) reaction occurred for those firms that only referenced the guidelines’ enactment. Additionally, firms with either a potentially greater following or that had a previous history of acrimonious relations with stakeholders were rewarded by the announcement of the enactment of guidelines. (shrink)

This paper posits that differences in corporate governance structure partly result from differences in institutional arrangements linked to business systems. We developed a new international triad of business systems: the Anglo-American, the Communitarian and the Emerging system, building on the frameworks of Choi et al. (British Academy of Management (Kynoch Birmingham) 1996, Management International Review 39, 257–279, 1999). A common factor determining the success of a corporate governance structure is the extent to which it is transparent to (...) market forces. Such transparency is more than pure financial transparency; as it can also be based on factors such as governmental, banking and other types of institutional transparency mechanism. There may also be a choice for firms to adopt voluntary corporate disclosure in situations where mandatory disclosure is not established. The Asian financial crisis of 1997–1999 and the more recent corporate governance scandals such as Enron, Andersen and Worldcom in the United States and Ahold and Parmalat in Europe show that corporate governance and business ethics issues exist throughout the world. As an illustration we focus on Asia’s emerging1 markets, as, both in view of the pressure of globalization and taking into account the institutional arrangements peculiar to the emerging business system, these issues are important there. Particularly for those who have to find an accommodation between the corporate governance structures and disclosure standards of the Emerging system and those of the Anglo-American and Communitarian systems. (shrink)

The article is devoted to the analysis of the upcoming reform of local self-government initiated by amend­ments to the Constitution of the Russian Federation (2020) and the Draft Federal Law No. 40361-8 «On general principles of the organization of local self-government in a unified system of public author­ity», submitted to the State Duma of the Russian Federation in December 2021. The purpose of the study is to identify and analyze trends in the development of the institutional organization of local (...) self-govern­ment, manifested in the context of the development of the new Draft Federal Law. It is shown that a special type of institutional organization is emerging in the sphere of domestic local self-government, which can be defined as institutional minimalism. Its main features are highlighted. It is concluded that the manifes­tations of institutional minimalism are possible only in the conditions of continuation of such trends as the strengthening state control and unification of local self-government, which previously existed, but were further strengthened in connection with the building of a unified system of public power. (shrink)

Elsewhere we have responded to the so-called demandingness objection to consequentialism – that consequentialism is excessively demanding and is therefore unacceptable as a moral theory – by introducing the theoretical position we call institutional consequentialism. This is a consequentialist view that, however, requires institutional systems, and not individuals, to follow the consequentialist principle. In this paper, we first introduce and explain the theory of institutional consequentialism and the main reasons that support it. In the remainder of the (...) paper, we turn to the global dimension where the first and foremost challenge is to explain how institutional consequentialism can deal with unsolved global problems such as poverty, war and climate change. In response, following the general idea of institutional consequentialism, we draw up three alternative routes: relying on existing national, transnational and supranational institutions; promoting gradual institutional reform; and advocating radical changes to the status quo. We evaluate these routes by describing normatively relevant properties of the existing global institutional system, as well as by showing what institutional consequentialism can say about alternatives to it: a world government; and multi-layered sovereignty/neo-medieval system. (shrink)

The world today is facing unprecedented challenges of governance far beyond what the United Nations, established more than 70 years ago, was designed to face. The grave effects of global climate change are already manifesting themselves, requiring rapid, far-reaching and unprecedented changes in all aspects of society if we are to arrest catastrophic and probably irreversible consequences. Science has uncovered the frightening and rapid collapse in global biodiversity, threatening ecosystems across the planet that maintain the correct functioning of the (...) biosphere, upon which we rely for survival. But there is more; there are other global catastrophic risks. We live in a world in which a diminished faith in our political leaders and governmental structures, public disillusionment with partisan politics and a willingness to believe populist promises, disturbing trends in income inequality, human rights violations and the spread of corruption have coincided with the rise of autocratic leaders, often intent on awakening the voices of nationalisms which have been so destructive during the 20th century. The rejection by some nations of the benefits of multilaterism and international cooperation, which have been at the center of the postwar global order, has heightened the risks of fundamental instabilities that could precipitate a range of major crises, disregarding the lessons of the past. (shrink)

Reconciling theories of intelligent institutional systems in experimentalist open democracy and pluralist liberalism, Institutional Epistemology and Extreme Inequality argues that protecting freedom from poverty and limiting private wealth are the necessary conditions for reliable social learning and problem-solving.

First, we explain the conception of trustworthiness that we employ. We model trustworthiness as a relation among a trustor, a trustee, and a field of trust defined and delimited by its scope. In addition, both potential trustors and potential trustees are modeled as being more or less reliable in signaling either their willingness to trust or their willingness to prove trustworthy in various fields in relation to various other agents. Second, following Alfano (forthcoming) we argue that the social scale of (...) a potential trust relationship partly determines both explanatory and normative aspects of the relation. Most of the philosophical literature focuses on dyadic trust between a pair of agents (Baier 1986, Jones 1996, Jones 2012, McGeer 2008, Pettit 1995), but there are also small communities of trust (Alfano forthcoming) and trust in large institutions (Potter 2002, Govier 1997, Townley & Garfield 2013, Hardin 2002). The mechanisms that induce people to extend their trust vary depending on the size of the community in question, and the ways in which trustworthiness can be established and trusting warranted vary with these mechanisms. Mechanisms that work in dyads and small communities are often unavailable in the context of trusting an institution or branch of government. Establishing trust on this larger social scale therefore requires new or modified mechanisms. In the third section of the paper, we recommend three policies that – we argue – tend to make institutions more trustworthy and to reliably signal that trustworthiness to the public. First, they should ensure that their decision-making processes are as open and transparent as possible. Second, they should make efforts to engage stakeholders in dialogue with decision-makers such as managers, members of the C-Suite, and highly-placed policy-makers. Third, they should foster diversity – gender, ethnicity, age, socioeconomic background, disability, etc. – in their workforce at all levels, but especially in management and positions of power. We conclude by discussing the warrant for distrust in institutions that do not adopt these policies, which we contend is especially pertinent for people who belong to groups that have historically faced (and in many cases still do face) oppression. (shrink)

This paper focuses on the role of contract as a governance mechanism in contemporary economic and social relations, exploring this theme in the context of recent writing on contract and contracting within law and other disciplines. The trends towards both outsourcing by private firms and privatization of public services have increased the importance of contract as an instrument of market and quasi-market exchange. Such organizational developments have been accompanied by institutional changes in the way in which business relationships (...) are regulated through legal and extralegal norms and other constraints in the contractual environment. Contract is also being deployed increasingly as an instrument of regulation of social relations between the state and citizens in the fields of welfare, education and criminal justice. Following Macneil, the paper develops a methodology for assessing the quality of different types of relationship—between buyers and sellers, purchasers and providers, providers and consumers, regulators and regulatees, government and governed, and state agencies and citizens—according to the relationality of «contract» norms. Drawing on theories of responsive regulation, the paper explores the institutional and organizational conditions of responsive contractual governance in selected areas of market, quasi-market, and social relations. The underlying argument is that the core values of democracy, participation, and citizenship have a central part to play in the determination of responsive regulatory policy. We should aim to increase the level of public participation in decisions concerning organizational and institutional frameworks, so that citizen and consumer interests may adequately be represented in the determination of optimal forms of governance. (shrink)

For-profit degree granting institutions are a growing and under-researched market segment that represents an extreme level of business involvement in academe. Permitting such institutions to grant degrees is a concern because the profit motive gives an incentive to operators to misrepresent the quality and benefits of such degrees. This paper addresses the issue of how adequately government quality assurance processes are able to protect the public interest. The degree program approval processes in three countries are evaluated using the UNESCO guidelines (...) for cross-border quality provision in higher education as an internationally accepted standard of quality assurance. (shrink)

Global Governance: Drawing Insights from the Environmental Experience, Oran R. Young (ed.). Cambridge, MA: MIT Press, 1997, 344 pp., paper, $22.50, ISBN 0?262?74020?6 The Implementation and Effectiveness of International Environmental Commitments: Theory and Practice, David G. Victor, Kal Raustiala and Eugene B. Skolnikoff (eds). Cambridge, MA: MIT Press, 1998, 686 pp., paper, $27.50, ISBN 0?262?72028?0.

The authors articulate a global public standard for the normative legitimacy of global governance institutions. This standard can provide the basis for principled criticism of global governance institutions and guide reform efforts in circumstances in which people disagree deeply about the demands of global justice and the role that global governance institutions should play in meeting them.

This book argues that ethical business behavior can be enhanced by taking fuller account of human nature, particularly with respect to the need for creating relatively small communities within the corporation. Timothy Fort discusses this premise in relation to the three predominant theories of business ethics--stakeholder, virtue, and contract. Drawing heavily from philosophy, he analyzes traditional business ethics and legal theory. Overall, his work provides a good example of how to integrate normative and empirical studies in business ethics, a task (...) that often receives substantial discussion in academic journals. (shrink)

The main aim of this study was to empirically analyze whether Institutional Quality moderates the relationship between corporate governance and stock liquidity through the light of agency and information asymmetry theory. To the best of our knowledge, this is the first finance study. The sample consists of 230 non-financial firms listed on the Pakistan stock exchange during the period of 2009–2019. We used an instrumental variable approach and our new Institutional Quality index composed of world governance (...) indicators and a corporate governance index, developed via principal component analysis, to demonstrate a relationship between corporate governance and stock liquidity and check the moderating role of Institutional Quality by following the resources complementary phenomenon. Our results show a significant, positive relationship between the corporate governance index and stock liquidity, suggesting that well-governed firms have high liquidity. The results show that the Institutional Quality index has a positive moderating impact on the relationship between corporate governance and stock liquidity, suggesting that corporate governance in Pakistan is weak. Our results are robust to a series of endogeneity checks using alternative proxies of stock liquidity. (shrink)

We are in an era of uncertainty over whose rules will govern global economic integration. With the growing market share of Chinese firms and the power of the Chinese state it is unclear if Western firms will continue to dominate transnational governance. Exploring these dynamics through a study of contract rules in the global cotton trade, this article conceptualizes commodity chain governance as a contested process of institution-building. To this end, the global commodity chain/global value chain framework must (...) be revised to better account for the broader institutional context of commodity chain governance, institutional variation across space, and strategic action in the construction of legitimate governance arrangements. I provide a more dynamic model of GCC governance that stresses how strategic action, existing institutions, and dominant discourses intersect as firms and states compete for institutional power within a commodity chain. This advances our understandings of how commodity chain governance emerges and changes over time. (shrink)

This book reflects on the research and career of political theorist Russell Hardin from scholars of Political Science, Philosophy, Sociology, Economics, and Law, among other disciplines. Contributions address core issues of political theory as perceived by Hardin, starting with his insistence that many of the basic institutions of modern society and their formative historical beginnings can be understood as proceeding primarily from the self-interested motives of the participants. Many of the contributions in this volume struggle with the constraints imposed on (...) political theorizing by the idea of self-interested agents, or homo economicus. Some reject the idea as empirically unfounded. Others try to show that homo economicus is even more versatile than Hardin depicts. And yet others accept the constraints and work within them. But all pay tribute to the lasting intellectual contribution of Russell Hardin and the challenge he poses. The book should appeal to scholars and students interested in collective action, public choice and democracy, moral reasoning and its limits, constitutionalism, liberalism, conventions and coordination, trust, identity politics, social epistemology, and methods in politics philosophy. (shrink)

ABSTRACT: There is general agreement amongst those involved in the normative discussion about geoengineering that if we are to move forward with significant research, development, and certainly any future deployment, legitimate governance is a must. However, while we agree that the abstract concept of legitimacy ought to guide geoengineering governance, agreement surrounding the appropriate conception of legitimacy has yet to emerge. Relying upon Allen Buchanan’s metacoordination view of institutional legitimacy, this paper puts forward a conception of legitimacy (...) appropriate for geoengineering governance, outlining five normative criteria an institution ought to fulfill if it is to justifiably coordinate our action around geoengineering. (shrink)

Recent years have seen a remarkable resurgence in rigorous thought on global government by leading thinkers in international relations, economics, and political theory. Not since the immediate post-World War II period have so many scholars given serious attention to possibilities for global political integration.This book will be of interest to students of international relations, political theory, international economics, secuity and gender studies. It pulls together some of the leading current thinkers on global government into a conversation about provocative global (...) class='Hi'>institutional visions. Chapters here explore whether a world state should be viewed as inevitable, ways in which global moral and political communities might be sustained, and reasons to reject world government in favor of improvements to governance in the United Nations and other institutions. (shrink)

Barack Obama is often lauded as a 'pragmatist,' yet when most people employ the term, they mean it in the vaguest sense: that he's practical and willing to compromise to get things done. However, the public philosophy of pragmatism, which has been the subject of a rich revival in the past couple of decades, is far more than this. First developed in the late nineteenth century, pragmatism is primarily a way of thinking--an anti-dualist philosophy that attempts to overcome the dichotomies (...) between self and object, nature and culture, mind and body, theory and practice, and fact and value. When applied to governance, pragmatists advocate the use of tactics like third party mediation and problem-solving to achieve anti-dualist principles: cosmopolitan localism, analytical holism, progressive conservatism, and processual structuralism. In Pragmatist Governance, Chris Ansell begins with a theory of the concept and then explains why the approach is ideal for addressing today's governance problems. For instance, while many think that bureaucracy's unchecked growth is the fundamental problem facing democracy today, pragmatism suggests the opposite: that public agencies can effectively manage the relationship between governance and democracy if they focus on building consent for public problem-solving. Ansell argues that wishing away bureaucracy will not do given what we know about the indispensible role of institutions in contemporary governance. Utilizing pragmatist concepts, Ansell rethinks the design of institutions, arguing that they are neither the simple products of rational design that can be endlessly tinkered with nor 'congealed taste'--where institutions represent the timeless customs and values of a people. Along with overcoming this dualism, Ansell also challenges us to rethink our approach to governance. Instead of moving from one extreme to the other--from bureaucracy to 'post-bureaucracy' or 'public entrepreneurialism'--pragmatism would not merely seek to replace one with the other, but rather to hitch the two approaches together in an innovative amalgam where organizational leaders constantly interact with and learn from street-level bureaucrats. Pragmatist Governance concludes that if government is to regain public trust, the technical knowledge of experts must be brought together with sensitivity to local problems, situations, and knowledge. The answer lies not, however, in a diminished bureaucracy. That may only deepen distrust. Rather, the emphasis should be on taking the best of both sides to find innovative and effective ways to solve enduring public problems. (shrink)

The world today is facing unprecedented challenges of governance far beyond what the United Nations, established more than 70 years ago, was designed to face. The grave effects of global climate change are already manifesting themselves, requiring rapid, far-reaching and unprecedented changes in all aspects of society if we are to arrest catastrophic and probably irreversible consequences. Science has uncovered the frightening and rapid collapse in global biodiversity, threatening ecosystems across the planet that maintain the correct functioning of the (...) biosphere, upon which we rely for survival. But there is more; there are other global catastrophic risks. We live in a world in which a diminished faith in our political leaders and governmental structures, public disillusionment with partisan politics and a willingness to believe populist promises, disturbing trends in income inequality, human rights violations and the spread of corruption have coincided with the rise of autocratic leaders, often intent on awakening the voices of nationalisms which have been so destructive during the 20th century. The rejection by some nations of the benefits of multilaterism and international cooperation, which have been at the center of the postwar global order, has heightened the risks of fundamental instabilities that could precipitate a range of major crises, disregarding the lessons of the past. (shrink)

Good governance is important for the sustainability of Waqf institutions in Malaysia. As a part of good governance, the evaluation of internal control and its components are essential to be considered. While reaching the Maqāṣid al-Sharī‘ah, the appreciation of Wasaṭiyyah approach can be utilised in the evaluation of internal control in the Waqf institutions. Based on qualitative research method, this research explores the internal control and its components in Waqf institutions. The conceptual study on Wasaṭiyyah approach is provided (...) in brief, and the appreciation of Wasaṭiyyah approach in relation to internal control and its components are provided. It is found that Wasaṭiyyah approach can be used in the evaluation of internal control of Waqf institutions in improving their good governance. (shrink)

The essay confronts the classical forms of the government of social fears, elaborated in the course of modern and contemporary history, (in particular, national state and welfare systems)with the ongoing processes of economic and political globalization. The authors also discusses the question of the transformation of the subjective gaze, either individual and collective, regarding the historical time and in reference to the possible shift to a postmodern epoch.

Collaborative governance (CG) is becoming the common currency of decision‐making, able to surmount existing institutional constraints to effectively address challenges related to sustainability and social and environmental corporate behavior. CG approaches may however result in institutional complexity. As an illustration of CG in the domain of corporate social responsibility (CSR), the ISO 26000 standard is a legitimate point of reference for organizations worldwide. The standard represents a pluralistic institutional logic that resonates several tensions arising from the (...) domain it tries to standardize, the nature of its development process, its interpretation of CSR and the type of standard it represents. This article aims to identify and examine strategic responses to ISO 26000 by various standards‐related organizations (including national standardization institutes, certification organizations, and service providers) and to contribute to the understanding of strategic responses of organizations to pluralistic institutional logics that result from CG. (shrink)

In a recent article Allan Buchanan and Robert Keohane defend the view that one of the necessary conditions for the legitimacy of global governance institutions such as the WTO and the IMF is that they respect basic human rights. I certainly agree that setting the minimal threshold of moral acceptability any lower would be entirely unreasonable. But, unfortunately, the view that global governance institutions have human rights obligations is far from uncontroversial. These institutions themselves go to great lengths (...) to deny such a claim. Their official stance finds strong normative support in the state-centric conception of human rights that dominates both normative debates about human rights and current human rights practice. In this article I challenge some of the normative assumptions behind the state-centric conception in order to defend a pluralist conception that ascribes human rights obligations not only to states but also to non-state actors such as global governance institutions. After briefly analyzing some of the proposals currently under discussion about how to legally entrench the obligation to respect human rights in those institutions, I will defend the feasibility of those proposals against the objection that their implementation is incompatible with the current state-system and thus it would require the creation of a world state. (shrink)

The aim of this article is to explore the effects of the Istitutional Forum, a recent governance innovation legislated in South Africa in 1997, as a mechanism that contributes toward the democratisation of university governance. Forums were established to confront the legacy of structured disadvantage and to reorient the educational experience towards greater horizontal accountability. The article provides commentary on the Forum’s impact vis-a-vis participative ethos and deliberative democracy against the backdrop of the South African government’s post-apartheid commitments. (...) Findings reveal challenges in the Forum’s make-up and implementation that are linked to its degree of influence. Ultimately, the conclusions convey perspectives on role ambiguity and conflictual power dynamics. (shrink)

A revised version of Nathaniel Chipman's Sketches of the Principles of Government (1793), this early treatise on the underlying principles of American government addresses civil laws and obligations, the social state, rights of property, sovereignty and political power. An important early contribution to American constitutional law, it is also interesting for its Federalist perspective on the evolutions of political institutions from Washington to Jackson.Nathaniel Chipman [1752-1843] was a leading Vermont Federalist who was instrumental in that state's admission to the Union. (...) He became Vermont's chief Justice and went on to represent Vermont in the U.S. Senate. He was also one of America's first significant legal writers.One of his books, the Reports and Dissertations (1793) is included in Warren's list of "the four general works on the Common Law... [of] permanent value in American Legal Literature.": Warren, A History of the American Bar 335-336. See Cohen, Bibliography of Early American Law 5752, Sabin, A Dictionary of Books Relating to America 12824, Dictionary of American Biography II:73-74. (shrink)

First, we explain the conception of trustworthiness that we employ. We model trustworthiness as a relation among a trustor, a trustee, and a field of trust defined and delimited by its scope. In addition, both potential trustors and potential trustees are modeled as being more or less reliable in signaling either their willingness to trust or their willingness to prove trustworthy in various fields in relation to various other agents. Second, following Alfano (forthcoming) we argue that the social scale of (...) a potential trust relationship partly determines both explanatory and normative aspects of the relation. Most of the philosophical literature focuses on dyadic trust between a pair of agents (Baier 1986, Jones 1996, Jones 2012, McGeer 2008, Pettit 1995), but there are also small communities of trust (Alfano forthcoming) and trust in large institutions (Potter 2002, Govier 1997, Townley & Garfield 2013, Hardin 2002). The mechanisms that induce people to extend their trust vary depending on the size of the community in question, and the ways in which trustworthiness can be established and trusting warranted vary with these mechanisms. Mechanisms that work in dyads and small communities are often unavailable in the context of trusting an institution or branch of government. Establishing trust on this larger social scale therefore requires new or modified mechanisms. In the third section of the paper, we recommend three policies that – we argue – tend to make institutions more trustworthy and to reliably signal that trustworthiness to the public. First, they should ensure that their decision-making processes are as open and transparent as possible. Second, they should make efforts to engage stakeholders in dialogue with decision-makers such as managers, members of the C-Suite, and highly-placed policy-makers. Third, they should foster diversity – gender, ethnicity, age, socioeconomic background, disability, etc. – in their workforce at all levels, but especially in management and positions of power. We conclude by discussing the warrant for distrust in institutions that do not adopt these policies, which we contend is especially pertinent for people who belong to groups that have historically faced (and in many cases still do face) oppression. (shrink)

Study was born in the construction of problem concepts in the deployment of a governance strategy in institutions under digital environments, a technical position of understanding from South America is raised, the initial hypothesis of knowing aspects and determining requirements, an efficient model of governance can be achieved from the use and application of ICT, which allow to argue the as of the process, The use ICT, TAC, TEP as change managers in virtuality, to interact in a disruptive (...) way, the most important achievements of research to recognize the legal, digital and technological resource environment. (shrink)

Central banks have accumulated unparalleled power over the conduct of macroeconomic policy. Key for this development was the articulation and differentiation of monetary policy as a distinct policy domain. While political economists emphasize the foundational institutional changes that enabled this development, recent performativity-studies focus on central bankers’ invention of expectation management techniques. In line with a few other works, this article aims to bring these two aspects together. The key argument is that, over the last few decades, central banks (...) have identified different strategies to assume authority over “expectational politics” and reinforced dominant institutional forces within them. I introduce a comparative scheme to distinguish two different expectational governance regimes. My own empirical investigation focuses on a monetarist regime that emerged from corporatist contexts, where central banks enjoyed “embedded autonomy” and where commercial banks maintained conservative reserve management routines. I further argue that innovations towards inflation targeting took place in countries with non-existent or disintegrating corporatist structures and where central banks turned to finance to establish a different version of expectation coordination. A widespread adoption of this “financialized” expectational governance has been made possible by broader processes of institutional convergence that were supported by central bankers themselves. (shrink)

The philosophy of pragmatism advances an evolutionary, learning-oriented perspective that is problem-driven, reflexive, and deliberative.

Benjamin Hoadly's Original and Institution of Civil Government is a founding text for the American republic. Writing in 1710 this response to Tory High Church attempts to revive extreme monarchical theories of government, Hoadly, a Low Church Whig and Anglican clergyman, advanced new ideas of political authority. He was committed to the political settlement that followed the Glorious Revolution of 1688 and the limited parliamentary monarchy it established in Great Britain; he was also responsible for popularizing John Locke's theories of (...) government. In the Original and Institution of Civil Government, Hoadly challenged patriarchal political systems and denied that civil authority could be compared with a parent's authority over children. Instead, Hoadly argued that civil authority arose from the people and was conditionally given to a leader. (shrink)

This paper unravels an unprecedented interplay between board gender diversity (BGD) and corporate environmental, social, and governance (ESG) disputes among Chinese A-share-listed nonfinancial companies from 2017 to 2021. Framed within a knowledge-based and sensemaking perspective of institutional frameworks, the research not only illuminates the profound impact of internal (corporate governance ratings) and external (regional institutional development) institutional factors on this intricate relationship but also brings to light a paradigm-shifting revelation. The study employed a diverse set (...) of empirical tests, ranging from ordinary least squares regression to advanced methods such as the generalized method of moments, two-stage least squares, and propensity score matching, providing a nuanced and comprehensive analysis. The findings highlight the pivotal role of female directors in significantly mitigating ESG disputes. A mechanism analysis further uncovers that internal and external institutional quality are potent positive moderators in shaping the BGD–ESG dispute dynamic. This research has profound implications, providing valuable insights for stakeholders, policymakers, and scholars, offering a comprehensive understanding of how gender diversity fosters sustainability while unravelling the intricate tapestry of internal and external institutional dynamics that shape ESG outcomes. (shrink)

This paper explicates the influential Confucian view that “people” and not “institutional rules” are the proper sources of good governance and social order, as well as some notable Confucian objections to this position. It takes Xunzi 荀子, Hu Hong 胡宏, and Zhu Xi 朱熹 as the primary representatives of the “virtue-centered” position, which holds that people’s good character and not institutional rules bear primary credit for successful governance. And it takes Huang Zongxi 黃宗羲 as a major (...) advocate for the “institutionalist” position, which holds that institutional rules have some power to effect success independently of improvements in character. Historians have often called attention to this debate but left the major arguments and positions relatively unspecified. As I show, the Confucian virtue-centered view is best captured in two theses: first, that reforming people is far more demanding than reforming institutional rules; second, that once the rules have reached a certain threshold of viability, further improvements in those rules are unlikely to be effective on their own. Once we specify the theses in this way, we can catalogue the different respects and degrees to which the more virtue-centered political thinkers endorse virtue-centrism in governance. Zhu Xi, for example, turns out to endorse a stronger version of virtue-centrism than Hu Hong. I also use this account of the major theses to show that Huang Zongxi, who is sometimes regarded as historical Confucianism’s foremost institutionalist, has more complicated and mixed views about the power of institutional reform than scholars usually assume. (shrink)

Public or stakeholder participation in environmental governance has been strongly advocated within the United Nations (UN) since the early 1990s. A relatively new mechanism for global climate finance that emphasises stakeholder engagement is the Green Climate Fund (GCF), a UN strategy for channelling funds from the Global North to the Global South. Drawing on previous critical approaches to multi-stakeholder involvement in global governance, this article explores stakeholder involvement within the GCF. The study combines ideas from institutional logics (...) and resource dependency to provide a better understanding of how stakeholder arrangements are shaped in climate organisations. Results show that the GCF stakeholder arrangement favours private sector stakeholders – stakeholders that take a technical and apolitical approach to climate finance – and disfavours smaller, less resourceful stakeholders as well as those who perform a politicised watchdog function. (shrink)

Using data from 88 countries, we test hypotheses linking a country’s economic freedom and cultural values with the propensity and timing of decisions to impose stringent policies to combat the spread of Covid-19, as well as society’s compliance with those restrictive measures. Our analysis supports hypotheses that a country’s economic freedom and cultural dimensions of individualism and masculinity predict early implementation of stringent policies. After accounting for endogeneity, we find that individualism also helps explain residents’ compliance with stringent measures. These (...) findings illustrate how institutions and cultural values influence government policies and societal compliance. (shrink)

This paper reports a preliminary sketch of a framework for integrating perspectives on economics, ethics, strategy, and stakeholders (Jones, 1995). It may notbe desirable in management practice to separate such considerations (Harris & Freeman, 2008). There are three general types of collective choice institutions: governments, markets, and voluntary associations. There are four general types of moral theory: moral rules (Kantianism), consequentialism (utilitarianism), virtuousness (bundling virtue theory, religion, and moral intuitionism), and social contract. There are three general positions concerning social responsibilities (...) of individuals and corporations (i.e., a licensed group of individuals). One position asserts zero social responsibility beyond compliance with laws. The polar-opposite position asserts significant social responsibilities by moral obligation. An intermediate position asserts social responsibility by agent cost-benefit analysis. The framework seeks to map these types of institutions, moral theories, and social responsibility conceptions relative to one another. The purpose is to see whether insight can be obtained concerning certain key developing debates. The paper explores implications of the work of Ostrom and Williamson (winners of the 2009 Nobel Prize in Economic Sciences) for this framework. That work addresses choice institutions—to which moral theories and social responsibility theories can be added. (shrink)

Recent scandals allegedly linked to CEO compensation have brought executive compensation and perquisites to the forefront of debate about constraining executive compensation and reforming the associated corporate governance structure. We briefly describe the structure of executive compensation, and the agency theory framework that has commonly been used to conceptualize executives acting on behalf of shareholders. We detail some criticisms of executive compensation and associated ethical issues, and then discuss what previous research suggests are likely intended and unintended consequences of (...) some widely proposed executive compensation reforms. We explicitly discuss the following recommendations for reform: require greater independence of compensation committees, require executives to hold equity in the corporation, require greater disclosure of executive compensation, increase institutional investor involvement in corporate governance (including executive compensation), and require firms to expense stock options on their income statements. We provide a brief summary discussion of ethical issues related to executive compensation, and describe possible future research. (shrink)

This article examined the personal profiles of the Heads of Government of countries in South/North America and how they communicated with their audiences on institutional measures to contain COVID-19. Analyses were carried out on data collected from Twitter from November-2019 to November-2020. This study includes: i)quantitative analysis, measuring categories and emphases in the communication of tweets, retweets, likes, and comments on matters relevant to the pandemic; ii)qualitative analysis that allowed evaluating speeches to identify political interference and the effectiveness of (...) communication at critical moments of the pandemic. It was possible to infer that each president has his singularities and understanding about Social Media’s use as a more direct communication tool with his audience. It was also found that successful communication is not directly proportional to the volume of messages on Twitter, but to socio-political aspects and institutional leadership that can make a difference in Social Media in combating COVID-19. (shrink)

This article discusses the work of Cornelius Castoriadis, an important political thinker and theorist of democracy. Castoriadis developed not one but two theories of democracy based on two distinct understandings of autonomy. The first is compatible with the key features of representative government; the second is not. Unfortunately, Castoriadis models his interpretation of the idea of popular sovereignty on the second view, thereby concluding, like Rousseau before him, that it is incompatible with representative government. This article discusses both approaches and (...) presents a reinterpretation of political representation and of the idea of popular sovereignty in order to show how they can be made compatible. I argue that the discourse of popular sovereignty and the modern principles of representative government entail one another. (shrink)

Economic institutions governing such activities as food sharing among non-kin, the accumulation and inheritance of wealth, and the division of labor and its rewards are human-constructed environments capable of imparting distinctive direction and pace to the process of biological evolution and cultural change. Where differing structures of these institutions take the form of distinct conventions sustained by (near) mutual adherence, small initial differences may support divergent evolutionary trajectories even in the absence of conformist behaviors.