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Corporate Governance Best Practices: Der Weisheit letzter Schluss?

Pascal Gantenbein and Christophe Volonté

Die Unternehmung - Swiss Journal of Business Research and Practice, 2021, vol. 75, issue 2, 248-258

Abstract: Corporate governance deals with the principal agent problem among a firm’s investors, entrepreneur, and management. In this setting, corporate governance mechanisms are designed to minimize the agency costs and incorporate further stakeholders’ interests. The “best practice” of these mechanisms typically comprise shareholders and shareholder rights, the board of directors-and hereby issues such as dual mandate, independence, multiple mandates, diversity, competencies, and the size of the board-as well as compensation policy. But how useful and well-founded empirically are these practices? Against this backdrop, this paper gives an overview of corporate governance mechanisms and the debate in research on these recommendations. It turns out that “best practices” in corporate governance benefit from their simplicity and reliability, but they are anything but undisputed, based on empirical research.

Date: 2021
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DOI: 10.5771/0042-059X-2021-2-248

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Die Unternehmung - Swiss Journal of Business Research and Practice is currently edited by Prof. Dr. Artur Baldauf, Universität Bern, Prof. Dr. Manfred Bruhn, Universität Basel, Prof. Dr. Pascal Gantenbein, Universität Basel (geschäftsführend), Prof. Dr. Markus Gmür, Universität Fribourg, Prof. Dr. Klaus Möller, Universität St. Gallen, Prof. Dr. Günter Müller-Stewens, Universität St. Gallen, Prof. Dr. Dr. h.c. Margit Osterloh, Universität Zürich, Prof. Dr. Dieter Pfaff, Universität Zürich and Prof. Dr. Martin Wallmeier, Universität Fribourg

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