The Present and Future of Corporate Governance: Re-Examining the Role of the Board of Directors and Investor Relations in Listed Companies

Disclosure of Beneficial Ownership after the Panama Papers

“…On April 8, 2013, the Google founders owned more than 80 percent of the outstanding Class B shares, giving them about 56 percent of the firm's total voting power. Since their IPO in 2004, the founders have made very clear to investors and other stakeholders that the ownership structure is designed to give the founders long-term control over the company's destiny (McCahery, Vermeulen, and Hisatake 2012).…”

Disruptive Technology and the Board: the Tip of the Iceberg

“…In 2014, Cortez highlighted the shortcomings of existing regulatory structures and within the corporate structure of organizations: he proposed caution in making hard rules or regulations for a technology that is constantly shift ing and adapting to new and existing technologies. Other researchers and scholars take a more structured approach suggesting that board directors need to consider new structures for corporate governance and a reexamination of the role of the board of directors for investor relations and listed companies (McCahery, Vermeulen, & Hisatake, 2013;Zukis, 2016). While McCahery et al (2013) were focused on structural and board changes other researchers saw the need for more formalization of standards in regard to automation, robots and IT governance.…”

“…Other researchers and scholars take a more structured approach suggesting that board directors need to consider new structures for corporate governance and a reexamination of the role of the board of directors for investor relations and listed companies (McCahery, Vermeulen, & Hisatake, 2013;Zukis, 2016). While McCahery et al (2013) were focused on structural and board changes other researchers saw the need for more formalization of standards in regard to automation, robots and IT governance. Vasarhelyi (2013) believes the audit ecosystem and many of the operational systems will be either fully or partially automated, making it necessary to formalize the collaboration between humans, AI and other aspects of technological disruption.…”

An Empirical Study on Multiple Corporate Directorships in New Zealand: A New Interpretation of Selected Governance Theories

“…However, there is no clear consensus as to how individual directors contribute to that process. As such, the qualities of members within the boards are a topic worthy of further research Because of the increase in complexity of the business environment, the board of directors is required to perform a wide range of roles beyond merely monitoring management to cope with the growing demands of the varying types of investors and stakeholders (McCahery, Vermeulen, & Hisatake, 2013). Consequently, more emphasis is placed on the capabilities of the directors in terms of business knowledge, industry experience and access to the business network for adequately meeting their board responsibilities (McCahery & Vermeulen, 2014;Ringe, 2013).…”

“…To begin with, prestigious (large and publicly-held) firms are characterized by dispersed ownership which may result in more agency conflicts, and the boards of directors of these firms are likely to oversee a complex operating environment and a diverse set of corporate governance issues (Ferris et al, 2003;Hermalin & Weisbach, 2001). In addition, corporate governance mechanisms in high-profile organisations, particularly boards of directors, serve to ensure that the firms' assets are managed efficiently and in the interests of shareholders as these firms are subject to close scrutiny by stock market participants, government agencies and stock exchange institutions (Jermias & Gani, 2014;McCahery et al, 2013). This suggests that knowledge, experiences, and information derived from directors' professional involvement in prestigious organisations may contribute more to develop their better monitoring ability.…”