PurposeThe purpose of this paper is to establish sufficient potential for a novel perspective that could enhance understanding of the rationale behind voluntary disclosures. In this paper, the authors seek to provide an integrated view from different disciplines that points to a new dimension. This dimension is expected to promote a better understanding of voluntary disclosures in corporate governance.Design/methodology/approachThe authors use the conceptual underpinnings of agency theory and integrate several perspectives from different disciplines. Through the support of simple matrices and a conceptual figure, an interesting finding is proposed that could help provide a new way of looking at voluntary disclosures.FindingsThe established view holds that due to information asymmetry between the shareholders and the management, voluntary disclosures are more meaningful for the shareholders of the firm. The authors, however, suggest that since information asymmetry is already embedded in several roles and strategic actions of the board, it leads to the development of a third dimension in understanding voluntary disclosures.Originality/valueInformation asymmetry has been well understood as one of the key aspects of the agency theory. The authors' strive to apply this phenomenon while looking at the roles of the board and the strategic actions that result therein. The result is an enhanced understanding of the motivations behind voluntary disclosures.
Corporate governance continues to be at the forefront as evinced by some of the recent incidents at organisations such as Tata Sons, Yes Bank and ICICI bank. Traditionally, ownership characteristics have been considered as close substitutes representing corporate governance, considering that board processes and activity do not yield themselves to much scrutiny beyond a few media reports and analysis. The research article undertakes a study of ownership, corporate social responsibility(CSR) and resource productivity in the Indian context. Using a sample of 900 firms from the non-financial domain, the study uses multivariate regression to identify the effect on market based measure of firm performance. Results indicate that all the ownership variables have a positive and significant influence on market based metrics of organisations. However, the CSR orientation or intent does not indicate any impact on organisation’s market based metric. The resource productivity, on the hand is strongly positive, indicating that markets recognise, intuitively the impact of competencies and capabilities of people. For practitioners, the implications are the quest to identify further levers of strategic and competitive advantage since the governance indicators have merely explained a small part of firm performance.
The paper discusses the prevailing situation regarding management education and advocates adoption of a framework that sheds light on how principles of responsible management education along with a sustainability agenda can be incorporated into the content and process of higher education. The study undertakes an analysis of the higher education discipline through reviews of research papers, trends and developments in the field. It also advances a new framework that incorporates the various dimensions of sustainability and responsible management education. This entire context is woven intricately into the fabric of the principles of responsible management education set forth by the United Nations. For industry practitioners, the study exhorts them to partner closely with academia in developing better management graduates who have imbibed a sense of purpose and strong values; for academicians, the study advocates the need for subtly changing the content and process of education, thereby instilling in students, a deeper sense of purpose and values.
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