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Behaviour and Rationality in Corporate Governance Routledge Series in Corporate Governance 1st Edition by Oliver Marnet ISBN 0415437520 9780415437523

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Behaviour and Rationality in Corporate Governance Routledge Series in Corporate Governance 1st Edition Oliver Marnet Digital Instant Download

Author(s): Oliver Marnet
ISBN(s): 9780415437523, 0415437520
Edition: 1
File Details: PDF, 1.47 MB
Year: 2008
Language: english
SKU: EB-1984394 Category: Tag:

Behaviour and Rationality in Corporate Governance Routledge Series in Corporate Governance 1st Edition by Oliver Marnet – Ebook PDF Instant Download/Delivery: 0415437520, 9780415437523
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ISBN 10: 0415437520 
ISBN 13: 9780415437523
Author: Oliver Marnet

Corporate scandals due to bad accounting happen far too frequently for a system of corporate governance to be deemed effective. This book tells why the safeguards designed to prevent bad accounting so often fail. By studying why the auditors and members of a board of directors regularly fail to deliver the truth about a company’s financial state of affairs, this provocative book explores a serious problem in the system of reporting financial information. This book is unique in that it draws together various strands of the literature on corporate governance, accounting, law, cognitive research, psychology, behavioural economics and conventional economics to shed light on questions regarding the feasibility of independence and impartiality of boards of directors and external auditors as monitors and gatekeepers in corporate governance. The book is essential reading for professional accountants and auditors, directors, regulators, law makers, corporate lawyers, and investment bankers. It will appeal to all those interested in behavioural economics and corporate governance.

Behaviour and Rationality in Corporate Governance Routledge Series in Corporate Governance 1st Table of contents:

Part I: Foundations of Corporate Governance and Rationality

  • Chapter 1: Introduction to Corporate Governance
    • Defining Corporate Governance: Principles, Structures, and Objectives
    • Key Theories of Corporate Governance (Agency Theory, Stewardship Theory, Stakeholder Theory)
    • The Importance of Effective Governance in Modern Corporations
  • Chapter 2: The Concept of Rationality in Economic Theory
    • Rational Choice Theory: Assumptions and Implications
    • Expected Utility Theory
    • Limitations of Traditional Rationality in Real-World Decision-Making
  • Chapter 3: Introduction to Behavioral Economics and Psychology
    • Origins and Key Concepts of Behavioral Economics
    • Cognitive Biases and Heuristics (e.g., anchoring, availability, confirmation bias, overconfidence)
    • Emotional Influences on Decision-Making
    • Bounded Rationality and Satisficing

Part II: Behavioral Challenges in Corporate Governance

  • Chapter 4: Behavioral Biases in Board Decision-Making
    • Groupthink and Conformity in Boardrooms
    • Overconfidence of Directors and Executives
    • Escalation of Commitment in Strategic Projects
    • Availability and Representativeness Heuristics in Information Processing
    • The Impact of Cognitive Load on Board Effectiveness
  • Chapter 5: Executive Compensation and Behavioral Considerations
    • Agency Problems in Executive Pay
    • Behavioral Aspects of Compensation Design (e.g., short-termism, risk-taking incentives)
    • Perceived Fairness and its Impact on Performance
    • The Role of Loss Aversion in Executive Behavior
  • Chapter 6: Shareholder Activism and Investor Behavior
    • The “Rational” Shareholder vs. Behavioral Realities
    • Herd Behavior and Market Bubbles/Crashes
    • Shareholder Engagement: Behavioral Drivers and Barriers
    • Influence of Framing on Shareholder Voting Decisions
  • Chapter 7: Ethics, Culture, and Behavioral Norms in Governance
    • Ethical Decision-Making: Beyond Rational Calculation
    • Organizational Culture and its Influence on Governance Outcomes
    • The Role of Social Norms and Peer Influence
    • Whistleblowing and the Behavioral Barriers to Reporting Misconduct

Part III: Designing for Better Governance: Behavioral Insights and Solutions

  • Chapter 8: Board Composition and Diversity: A Behavioral Perspective
    • Beyond Demographics: Cognitive Diversity
    • The Benefits of Diverse Perspectives in Counteracting Biases
    • Challenges in Achieving and Leveraging Diversity
  • Chapter 9: Improving Board Processes and Decision Architectures
    • Structured Decision-Making Processes
    • The Role of Independent Directors in Mitigating Biases
    • Enhancing Information Flow and Challenging Assumptions
    • Nudging for Better Governance Outcomes
  • Chapter 10: Governance of Risk: Incorporating Behavioral Science
    • Behavioral Aspects of Risk Perception and Risk-Taking
    • Designing Risk Management Systems that Account for Human Biases
    • Crisis Management and Decision-Making under Pressure
  • Chapter 11: Regulatory Frameworks and Behavioral Nudges in Governance
    • How Regulations Can Counteract Behavioral Failures
    • The Concept of “Smart Regulation”
    • Case Studies of Behavioral Interventions in Corporate Governance Policy
  • Chapter 12: Future Directions in Behavioral Corporate Governance Research and Practice
    • Emerging Biases and New Challenges
    • The Role of Technology and AI in Governance
    • Integrating Behavioral Insights into Governance Training and Development
    • Concluding Thoughts: Towards a More Realistic Understanding of Governance

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Tags: Oliver Marnet, Behaviour, Rationality