Conclusion

Timothy King () and Jonathan Williams ()
Additional contact information
Timothy King: University of Vaasa
Jonathan Williams: University of Surrey

Chapter Chapter 12 in Corporate Governance in the Banking and Financial Sector, 2025, pp 321-323 from Palgrave Macmillan

Abstract: Abstract Building on the continued interest in corporate governanceCorporate governance mechanisms worldwide, the chapters in this book examine issues related to the corporate governanceCorporate governance of financial institutionsFinancial institutions and markets. As evident within these chapters, as well as the opening monologue in the introductory chapter, classical theories, including agency theoryAgency theory (Jensen and Meckling, Journal of Financial Economics 3:305–360, 1976), stakeholder theory (Freeman, R. E. (2010). Strategic management: A stakeholder approach. Cambridge University Press.), organisational theory (Cyert & March, 1963), and stewardship theory (Donaldson and Davis, Australian Journal of Management 16:49–64, 1991) are still highly relevant to the study of financial institutionsFinancial institutions and markets. Also debates regarding the efficacy of various corporate governanceCorporate governance structures including optimal boardBoard structures and composition as well as the degree of power given to senior managers remain unsettled and ongoing. Furthermore, they have taken new forms with the emergence of the stakeholder model of governance and the increasing importance of corporate social responsibilityCorporate social responsibility (CSRCSR (corporate social responsibility)), ESG (environment, social and governance) and innovative technologies. Thus, as emphasised across the chapters in this book corporate governanceCorporate governance remains vital and, arguably, of increasing importance to help society tackle major challenges, such as responsible behaviour and climate risks.

Keywords: Corporate governance; Financial institutions; ESG (Environmental; Social; and Governance); Agency theory; Stakeholder model (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-3-031-83353-3_12

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