How to organise board composition to achieve responsible corporate governance?
This paper explores the question of how to organise board composition in order to ensure responsible corporate governance both from corporate social responsibility (CSR) and a good governance perspectives. It challenges the general assumption that good corporate governance focuses exclusively on shareholders’ interest and argues for taking statkeholders’ interest into account.
After reviewing the stakeholder approach, the paper focuses on composition of board of directors and examines the recommendations made by corporate governance guidelines and codes of best practice.
It then analyses the arguments given by different theoretical approaches for linking specific board composition with financial performance and CSR activities of the firm.
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