Corporate Governance and Ethics in a Globalized Era

p {margin: 0; padding: 0;} .ft00{font-size:18px;font-family:Arial;color:#000000;} .ft01{font-size:16px;font-family:Arial;color:#000000;} .ft02{font-size:16px;font-family:ArialMT;color:#000000;} .ft03{font-size:14px;font-family:SymbolMT;color:#000000;} .ft04{font-size:14px;font-family:ArialMT;color:#000000;} .ft05{font-size:16px;line-height:19px;font-family:Arial;color:#000000;} DYNAMICS OF CORPORATE GOVERNANCE AND ETHICAL IMPERATIVES IN A GLOBALIZED ERA LECTURE NOTES I. The Changing Landscape of Corporate Governance: • Corporate rights and obligations are established by society. • State and legal institutions set rules and enforce sanctions. • Globalization shifts power dynamics and introduces imbalances. • Resultant effects include a borderless world and weakened national constraints. II. Ethical Frameworks in Corporate Governance: • Different conceptions of corporate governance lead to varied ethical approaches. • The agency view lacks ethical considerations and focuses solely on profit. • Stakeholder theory advocates for broader interests and societal legitimacy. • The corporation-society view takes a moral stance and advocates for the voiceless. III. Exploring the Role of Ethics in Corporate Governance: • Editors of BEQ reflect on the journal's contribution to ongoing debates. • An examination of ethics is essential within diverse corporate governance perspectives. • Differences are acknowledged while seeking common ground for ethical considerations. IV. Key Takeaways: • Corporate governance is shaped by societal dynamics and legal parameters. • Legal institutions and the state play a pivotal role in defining corporate boundaries. • The process of globalization disrupts power balances and challenges established norms. • Ethical frameworks diverge, influencing corporate behavior and values. • The agency view prioritizes profit without adequate ethical reflection. • Stakeholder theory highlights a wider societal impact beyond profit. • The corporation-society view advocates for marginalized stakeholders on moral grounds. • Business Ethics Quarterly (BEQ) serves as a platform for fostering ethical discussions and understanding. • Ethics play a central role in shaping corporate behavior and actions. • Ethical considerations vary across theoretical perspectives, prompting deeper exploration.