Corporate Governance, Measurement of

The increased focus on good governance and the development of best practice guidelines, often supported by legislation, has been in response to corporate scandals, such as Enron and Worldcom in the early 2000s, and the 2008 banking crisis. Good governance is increasingly recognised as a process where the ‘best practices\u27 of yesterday become the standard practices of today. This increased focus has also coincided with a worldwide movement for corporate reporting on sustainability and corporate social responsibility (CSR) issues and a growing demand within the investment industry for investment products that are socially responsible (Benn and Dunphy 2013). Sustainable development is now part of the best practice model of corporate governance. There is a more equal recognition of stakeholders’ interests and the role of not only economic, but also social and environmental issues in laying the foundations for a new long-term model of economic growth. This is in contrast to the historic governing model that focused on the creation of shareholder value. However, despite increased attention and interest by policymakers and academics alike, a challenge that has not been unanimously resolved is the definition and measurement of ‘good corporate governance’. This chapter evaluates the main approaches to the measurement of corporate governance

Local Leadership: Types and Functions

From the traditional organizational perspective, leadership is to influence someone or to empower someone or who has followers. By doing so, someone can translate any vision into a reality by maximizing other efforts to achieve the goal. Local leadership is all these but in any given local context. If there is no leader in a locality, then there is no one who can speak for the local community (Sanderson and Palson 1939). Many local communities face different kinds of challenges due to changes in the economy, climate, population, government policy, etc. Some people in those communities play an essential role in navigating those challenges that erupt from time to time or influence the local people to work together for the community (Zaccaro et al. 2004; Collinson 2011; Etuk et al. 2013). Local leaders who are living within the community genuinely care about helping the..