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)

The attainment of good governance is often perceived to bringpolitical stability which in turn, facilitates sound and effective governmentadministration. In the case of Malaysia, good governance serves as the coreelement in public policy reforms. This can be seen through the implementationof National Transformation Policy which was introduced in 2010.The NTP comprises of two major plans, namely Government TransformationPlan and Economic Transformation Plan. Since its inception,the NTP has brought unprecedented changes in policy management throughthe establishment of the (...) National Key Result Areas and NationalKey Economic Areas. The NTP has been commended due to itsinclusiveness which is in line with good governance practices. The NTPaddresses fundamental policy issues in areas such as public transportation,socio-economic improvement, public sector performance and political stability.This study has revealed that the implementation of NTP has been reasonablyaccepted by many, despite nuances on the policy outcomes. The NTP embracesgood governance principles as the study confirmed the positive associationbetween these two. This transformation agenda seems to be the genesis ofMalaysia’s road to good governance. However there is still a long way to go tofully achieve the goal. (shrink)

Understanding what makes governance 'good' or 'bad' has been impeded by construct ambiguity. Contemporary governance research has struggled to define 'governance' and related constructs such as 'ownership', 'agency', and 'management' in a way that clearly separates and distinguishes them. Often, the line between governance and management is so blurred that it is impossible to say what is good or bad 'governance' versus 'management'. Here we provide a systematic classification of key governance concepts (...) in terms of their distinct economic functions. 'Governance', for instance, is the economic function of behavioural constraint. This allows us to state what 'good' governance is and how it might be assessed. We conclude that goodness of governance is idiosyncratic to each organisation, or even to each owner. Thus, while objective measures of good governance are possible, broadly utilised criteria for measuring governance are unlikely to capture whether governance is actually good or bad. (shrink)

The book presents an interdisciplinary exploration aimed at renewing interest in Luigi Einaudi’s search for “good government”, broadly understood as “good society”. Prompted by the Einaudian quest, the essays - exploring philosophy of law, economics, politics and epistemology - develop the issue of good government in several forms, including the relationship between public and private, public governance, the question of freedom and the complexity of the human in contemporary societies.

This article discusses how the Gawad Kalinga movement in the Philippines has operationalized good governance among its communities. This movement has not only provided opportunities for collaboration and cooperation between and among the three major governance actors, governments, business, and civil society, but more important, provided a framework for active citizen engagement in the process of improving their quality of life. Citizen participation is central not only in the theory of social quality but also in good (...) governance. The paper argues argues that in order for reforms to be successful and sustainable, institutional reforms and active citizen engagement are necessary. These reforms are key to addressing some basic problems facing nations today, an alarming decline in trust in institutions and corruption. This paper is divided into three parts. The first part discusses good governance approaches and reform of public administration in relation to social quality theory. The second part discusses the tenets of citizenship and civil organization leadership within the context of good governance. The third part focuses on an emerging citizens’ movement in the Philippines—the Gawad Kalinga movement, which highlights the aspects of citizen engagement. The last part contains some concluding remarks drawn from the Gawad Kalinga experience as applied governance reform, and its implications for enhancing social quality. (shrink)

The legislature and the judiciary have been a constant focus of contemporary political philosophy. However, the executive – ‘the government’ itself – has been comparatively neglected. Today, this is changing with a well-spring of new work that bears upon what we might call the ideal of ‘good governance’, that is, how governments (and/or their agents) should exercise their powers. This review paper begins by clarifying the concepts of ‘governance’ and ‘good’ governance (§1). It then highlights (...) five sets of values, working nominally from the most foundational constraints on the exercise of government power to those that should guide the exercise of discretion: legitimacy and rule of law (§2); respect and trustworthiness (§3); efficiency and rationality (§4); public participation and accountability (§5); and the public interest and fiduciary duties (§6). (shrink)

In this essay I intend to analyze the issue of good government in the works of Adam Smith, the importance of which seems to have not received due attention. The reconstruction is driven by three hermeneutical hypotheses concerning the role played by the idea of good government in the development of Smith's speculation: 1) the «good government» has a synthetic character, holding together the different aspects – moral, legal, economic and political – of his reflection; 2) it (...) emerges against the backdrop of the first acquisitions of the Theory of Moral Sentiments about the ‘mediating’ role of the middle class, and especially during the reflection that goes from the Lectures on Jurisprudence to the Wealth of Nations, and then feeds back into the subsequent rewritings of the Theory; 3) From the moment the «good government» appears, it becomes a descriptive and prescriptive idea of the social order. In the conclusions I will show how these hermeneutical hypotheses might have implications in the history of political, legal and economic thought. (shrink)

An analysis and critical discussion of the concept of good governance as it figures into the Royal Government of Bhutan's policy of Gross National Happiness.

In several avenues of contemporary research, much attention is devoted to the contrast between the real authority of institution and their formal power, in the analysis of institutional funtionings; also in the study of the relationships between institutions on the one hand, rules, principles or norms on the other hand. Such a contrast appears to be based on familiar observations: the capacity of institutions to get their preferred outcomes is sometimes loosely connected with the hierarchical prerogatives of the considered institutions. (...) More particularly, current studies of the „migration authority” bring out possible shitts in real authority while there is no changein the formal structure of power. This article will partly consist in the explanation of recent results of common reaserch in project „Delicom”, in which a formal treatment of the distinction has been put foward. This approach will be set against the background of recent contributions in political science or economics. The revelance of the problematic for the study of competence delegation among institutions will be stressed all along. (shrink)

A reading of Solon's elegy to eunomia through Castoriadis's seminal theory of autonomy as the explicit and reflective self-institution of society can elucidate the question of what constitutes sound governance. Solon proposes that the dignified realm of mortal life is the ethos of citizenship in a political state. Accordingly, this regime, which relies on intrinsic justification, needs to be understood in ethico-political terms. Its inherent ordinance is the rule of justice - the reciprocity of equitable proportion governing relations among (...) citizens. It is the responsibility of these citizens to safeguard the governing reciprocity, and when they neglect it, the entire state suffers the dire consequences of hubris. The political order that best observes and promulgates the rule of justice is good governance, which functions both as self-limitation and as a balancing measure by arranging the contest of civic forces into a fitting harmony. (shrink)

The attainment of good governance is the question of the day in Bangladesh. This paper discusses the , parliamentary accountability, and assesses the effectiveness of the Bangladesh Parliament in ensuring governmental accountability and promoting good governance since 1991 when the country re-entered into parliamentary democracy. Considerable discrepancies between the expected role and practical performances are identified and the study further identified a number of problems that severely hinder parliament's accountability function. This paper primarily argues that Bangladesh (...) vested excessive powers in the hands of the executive branch; it, therefore, lacks the proper checks and balances a strong parliament could provide. (shrink)

Volume 25, Issue 4, June 2020, Page 488-490.

A shortened and mildly revised reprint of a chapter initially composed as part of International Expert Working Group's report on Bhutan's project of Gross National Happiness, but published in full in Happiness: Transforming the Development Landscape (2017).

I attempt to show that it is notphilosophically incompetent to ground politicalobligation in feelings of gratitude. But theargument needs to be stated carefully.Gratitude must be distinguished fromreciprocity. It applies only to good governmentwhich provides benefits to citizens for whichthey ought to feel grateful. It applies only tocitizens who accept that their feelings ofgratitude are properly demonstrated by anacceptance on their part of the duties ofcitizenship. It does not apply to citizenswhose benefits are purchased at the expense ofthe unjust treatment (...) of fellow citizens. (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 concepts of good governance and also good administration have increased in popularity over recent years. They have found a convincing conceptual niche on a European and global level. This is also visible in scholarly activity; from the early 1990s on, there has been a wave of good governance talk and consequently, research and criticism. In this article the concepts of good governance and good administration are discussed from a discursive standpoint. The (...) main claim is that the concepts are over-inclusive and can signify a plethora of meanings. Consequently, the mechanisms of this indeterminacy are studied; the criteria according to which good governance and administration are defined vary. This is exemplified in the contexts of the EU and the Council of Europe. Accordingly, different “good-nesses” can contradict each other. It is suggested that the different discourses or vocabularies of good governance and good administration form closed systems of meaning which identify only claims which adhere to their own rationality. Furthermore, these different meanings enable different forms of exercising societal power. The approach is inspired by systems theoretical reading of discourses. (shrink)

This article, prompted by Heidi Crowter’s campaign to eliminate the discriminatory aspects of current abortion law, outlines the challenges to good governance in a context of bioethical plurality. First, the nature of the plurality is sketched. Secondly, some reflections are presented on how those who have governance responsibilities might ease the tensions engendered by the plurality; and, at the same time, how the discontented governed might reasonably press their views. Thirdly, a model of good governance (...) (demanding integrity by those who govern and respect for the global commons) is introduced. The conclusion is that good faith governance merits our respect, but it does not guarantee particular outcomes or positions that will meet with the approval of all bioethical constituencies or individuals. Accordingly, we have to learn not only to live with rocks and hard places but also to find civilized ways of debating our differences. (shrink)

This paper will delve into the problem of Good Governance in the light of Kong Zi. What makes up a Just State? What are the elements that constitute a prosperous Kingdom? What principles of Confucianism can we employ to achieve a just and humane society? These are the primary questions that we will try to investigate as we go along. The paper will be thus divided into three essential parts: The Notion of Li and the Sovereign, The ConfucianMoral (...) Ideal, and lastly, The Great Commonwealth. (shrink)

Contextualizationof Biblical texts is a priority of every exegete, who endeavors to bring the ancient scripts to dialogue with contemporary issues. This paper, which studies Psalm 72 and a prayer composed for good governance in Anambra State Nigeria, focuses on this hermeneutical interpretation. The writer adopts a simplified literary method in Biblical research that takes cognizance of the varied poetic techniques in Psalm 72 and engages in a detailed comparative study of a Psalm composed more than two millennia (...) ago and a prayer of our time. Such comparative study reveals a striking similar preoccupation of the composers of both texts. Both prayed for good governance of which all developing countries today are in dire need. (shrink)

Good governance, first appeared in the nineties within the United Nations, the World Bank and International Monetary Fund refers to describe how public organizations best conduct public affairs and deliver public goods and services. Today, about three decades later good governance seems to be still popular since there are still many challenges ahead for many governments especially in less-developed and developing countries. Hence the notion of good governance was emerged as a normative commencement of (...) the principles, values and ethics to realise the acts of governance. Some thoughts on good governance and related topics advocated by three great ancient philosophers, who appear to be relevant at the present time are considered herein. One of the said philosophers is Kautilya (also known as Chanakya and Vishnugupta), who lived in India around 150AD. The others are the two great Greek philosophers Plato (427- 347BC) and Aristotle (384-322 BC), who stand with Socrates as the shapers of the whole intellectual tradition of the West. The thoughts are extracted from that detailed manual of state-craft and the science of living known as the Arthashastra written by one of classical India’s greatest minds Kautilya, Plato’s great work known as ‘The Republic’ and Aristotle’s treatise titled ‘The Politics”. The objective of this paper is to study the thoughts of ancient Greek philosophers who lived many centuries ago and their ideas are still relevant today. (shrink)

There is a tendency in recent development literature to couple the concept of good governance with the concept of sustainable development. The coupling of the two concepts witnesses to the correlation that subsists between good governance and sustainable development, such that given that sustainable development is a function of good governance, where there is good governance, we should not only expect that there will be progress, but, more importantly, we should also expect (...) that the progress is sustainable, so that the situation is one of growing from strength to strength rather than one of progress today and retrogression tomorrow. Yet paradoxically just as sustainable development is predicated on good governance, good governance itself is a function of effective communication, so that where there is lack of effective communication the result is always bad governance, which, in turn, means the possibility of sustainable development is impeded, as we cannot maximize the resources at our disposal, but wallow in endless recrimination and negativities that fail to contribute to our overall well being. Our aim is to show that there is a direct correlation between diplomacy and good governance on the one hand and good governance and sustainable development on the other, so that the best way to promote sustainable development in every sphere of life is to ensure an effective management of the resources at our disposal such as to satisfy all legitimate and competing interests. (shrink)

Since 1990, the allocation of foreign development aid has come to be shaped by donors' concerns about promoting "good government" in developing countries. Yet the aid donors adopt a wide variety of implicit and actual definitions of "good government.".

Contemporary international law separates the international justice of war from the domestic justice of society, but empirically, there is a correlation between democratic governance and military effectiveness, which could have a number of causes. A contemporary reconstruction from _The Seven Military Classics_ of Chinese military philosophy offers potential lessons for how domestic virtues may yield military and geopolitical victory. This chapter reconstructs arguments from the seven treatises into a collective an amalgamated conception of “good governance” that weaves (...) together military strategy and virtue ethics and maintains that good governance at home actually wins wars abroad. A reconstructed classical Chinese conception of “good governance” presents theoretical and ethical challenges, but also offers viable justicial content for contemporary jus ad bellum considerations beyond sovereign self-defense or human rights. It presents a way of instantiating the sprawling conception of human rights that falls short in contemporary discourse. (shrink)

This paper examined the integrity, impact and good governance value of election prophecies (EPs) in the last 20 years in selected African countries juxtaposed with President Donald Trump’s EPs in America. As a primary source, empirical research was conducted alongside a historical survey. The data collected from 519 respondents revealed that a majority believe in prophecies, but they queried the integrity, impact and value of EPs due to the inconsistency, inaccuracy, confusion and unhealthy public panics engendered. Despite the (...) adverse effects, many adherents still subscribe to the phenomenon due to the psychological and emotional influence. Subsequently, this article critiqued the research outcome through Biblical Theology. It held that EPs remain vital in the public life of nations, but the current approach in Africa needs some review. These include: (1) the need to revisit the tasks of prophets as Hope givers, Reformers and those who speak truth to power in pre- and post-election seasons; (2) the scrutiny of EPs by the plurality of Prophets, ecumenical leaders and the public, with the four suggested evaluation indices; and (3) the need to curb the negative effect of EPs on healthy electoral processes using enacted public account policies. Contribution: This article contributes to an interdisciplinary religious aspect of research covering Biblical theology, psephology and politics. (shrink)

The Olivieri symposium offers an opportunity to reflect on the Canadian regulatory climate and public governance. Baylis’s paper raises a concern about the Canadian bio-ethics community’s collective silence and stewardship regarding the Olivieri case.1 A similar collective silence greeted the recent McDonald report2 on research governance in Canada. The McDonald report assessed the integrity and effectiveness of research governance arrangements and concluded that serious reform was required.Curiously, although the McDonald report was recently referred to in a Canadian (...) Medical Association Journal editorial as an example of Canadian leadership,3 it has never received an editorial commentary in the CMAJ. Nor has any article in the CMAJ ever addressed the McDonald report. Yet the CMAJ created an ethics editorship and a senior Canadian bioethicist was chosen for the position in light of the growing importance of ethics in public policy.4 A chapter of the McDonald report also focused on the mandate of the Canadian Medical …. (shrink)

Philosophy is a vast subject and it is growing day by day in many branches although it has many traditional branches like epistemology, metaphysics, ethics and logic etc. Professional ethics is a discipline of philosophy and a part of subject called as ETHICS. In professional ethics we study the morals and code of conduct to be used while one practices in his/her profession. Media is also a profession and there is also a code of conduct to this profession better. If (...) media professional be ready to work according to its professional ethics, he/she can have a good approach and it will direct him/her to play an important role in shaping good governance. In this paper it is an attempt made to draw a relation between all these conceptions and presents a theoretical interpretation of the above. (shrink)

I will argue here that Einaudi's thought reveals an awareness that the question of freedom has to do with two inter-related problems: the relation of individuals or communities with their respective limits and the question of going beyond these limits. Limits are to be understood here in the meaning of the foundation or conditions of possibility both of institutions (economic, political and juridical) and of thought and human action.

PurposeThe purpose of this paper is to study the evolution of Freedom of Information/Right to Information from an international perspective and analyse it as an indispensable tool for good governance through the use of information and communication technologies with special reference to India.Design/methodology/approachThis study examines the worldwide occurrence of Right to Information with reference to International Covenants, the genesis of RTI Act in India and the use of ICT in India as a tool for empowering the citizen's.FindingsThe study (...) demonstrates that RTI has far reaching impact and it clearly contributes to a better and informed citizenry however the use of ICT in India can further facilitate the access of such records.Research limitations/implicationsThe study focuses on the genesis of RTI from an international perspective but the use of ICT for further facilitating the use of RTI is limited to Indian context.Practical implicationsThe paper will outline a detailed analysis on the present usage of ICT and the initiatives taken for facilitating information dissemination and further provide suggestions for the benefit of civil society towards good governance.Originality/valueThe study is the first to address the issue of the implementation of right to information act through the use of ICT and also suggests methodology for its further improvement. Also, the study comprehends the genesis of RTI both from the international as well as Indian perspective. (shrink)

The COVID-19 pandemic brought about at least two normative challenges on unprecedented scale for liberal democracies. One concerned prioritization decisions when health care resources were constrained. The other, which arguably led to lasting damage to social cohesion and citizens’ trust in government and government public health institutions, concerned policies introduced with the aim of reducing the spread of SARS-CoV2, some of which turned out to be mistaken. I discuss in this essay a few examples of misguided, liberty-limiting public health policies (...) and describe how public health and public health ethics principlism provided cover for such policies. Citizens had reasons to be concerned about the duration of such liberty-infringing policies, the absence of predictable government policies, and the absence of transparent justifications for the policies that were implemented. (shrink)