Corporate governance and the Fourth Industrial Revolution: promises and challenges

Maria Goranova, Yanqiu Ren, Marti Sagarra, Sarthak Singh and Cynthia Clark

Chapter 21 in Handbook of Research on Strategic Leadership in the Fourth Industrial Revolution, 2024, pp 475-508 from Edward Elgar Publishing

Abstract: Digital transformation and the related scope and velocity of change pose a plethora of new challenges: from taking advantage of the opportunities related to artificial intelligence (AI), machine learning (ML), digital platforms, and advanced technologies, to adapting corporate governance policies and practices. The authors conduct a bibliometric analysis to examine recent trends in corporate governance research, with particular focus on those related to the Fourth Industrial Revolution. They first focus on the purpose of corporate governance as related to the conceptualization of the firm, its purpose, and the trust bestowed on corporate managers to executive it. They then discuss three main corporate governance mechanisms: (1) board of directors; (2) executive compensation; and (3) shareholder monitoring, engagement, and activism. Finally, they conclude by examining the implications of corporate governance for addressing grand societal challenges, and how corporate governance paradoxes are affected by the Fourth Industrial Revolution.

Keywords: Business and Management; Economics and Finance; Environment; Law - Academic; Politics and Public Policy Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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