Responsible Leadership in Corporate Governance: An Integrative Approach

Description

Responsibly led boards of directors make it possible for modern companies to survive and prosper under conditions of change. Despite the importance of boards of directors, their activities are often lionised or vilified by shareholders and stakeholders which obscures how boards enact responsible leadership. Responsible Leadership in Corporate Governance: An Integrative Approach introduces an integrative model of responsible leadership in governance that positions the board as a nexus of all corporate participants. In this model, responsibly led boards seek to make decisions in the best interests of the modern company as an entity that operates in a dynamic business environment. This book provides a timely focus on in-depth cases of board led responsible leadership. Examining boards of directors in listed companies, state-owned enterprises, and private companies, the book connects insights from corporate governance and leadership to behaviours that affect boards’ relationships with shareholders and stakeholders. In addition, these insights underscore key requirements and challenges of responsible leadership in governance: from the importance of purpose and the crucial role of value creation to the difficulties of ownership transition and accountability. Far-sighted and experienced-based, this book will not only help students connect to real world situations but also will benefit those that interact with and support boards of directors. Cover Half Title Series Page Title Page Copyright Page Table of Contents Author Biographies Acknowledgements 1. Introduction and Overview Introduction Rationale for the Book The Research Process The New Zealand Governance Context Structure of the Book 2. A Leadership in Governance Approach Introduction Board Leadership in the Entity Model Social Cognitive Theory Perspective on ‘What Boards Really Do’ Directors Behaving Agentically and Exercising Responsible Leadership Concluding Points 3. Shareholder Capital and Other Investor Strategies Introduction Corporate Governance of Capital Structure Shareholder Diversity and the Corporate Entity Shareholder–Board Relationships Accountability Structure Preserves Leadership Case Studies Discussion Conclusion 4. Uniting Leadership and Organisational Oversight Introduction The Board’s Oversight Role Active and Independent Monitoring Board’s Formal and Informal Accountability Board’s Engagement Efforts Case Studies Discussion Conclusion 5. Value Creation Introduction Value and Value Creation Definitions Conceptions of the Corporation and Value Creation: Contractarian and Entity Governance and Responsible Leadership Integrative Framework Case Studies Conclusion 6. The Role of the Board in Transitions in Corporate Control Introduction The Board’s Roles and Responsibilities in Ownership Transition Board Composition, Reputation and Capabilities Interactions between the Board and Other Actors Case Studies Discussion Conclusion 7. CEO Succession Introduction Responsible Leadership, Influence Pathways and Board Tasks: CEO Succession Role of the Board Chair and CEO Succession Case Study Discussion Conclusion 8. Diversity and Inclusion Introduction Defining Diversity and Inclusion Diversity as a Goal and Diversity as a Means towards a Goal Case Study Discussion Conclusion 9. Conclusion Introduction Our Key Learnings Future Directions for Leadership in Governance Research In Closing Index