Faculty of Education, Social Sciences and Law

School of Law

Beyond Shareholder Value: Corporate Governance and Corporate Venturing

29 January 2013 | 18:00h | Seminar
Liberty Building SR G.33

Business Law and Practice Seminar Series

By Professor Erik Vermeulen, Tilburg University

It is time to redirect the corporate governance discussion to the importance of board dynamics. Well-balanced boards should dedicate more time to the development process of new products instead of following a pre-defined one-size-fits-all rulebook. 

A fundamental policy objective of corporate governance is to stimulate entrepreneurship and innovation in corporations. This paper considers the role of corporate governance in promoting the competitiveness and innovation capacity of listed companies.

Based on research that examines the correlation between corporate governance structures and innovation, the paper argues that a too strong focus on reducing principal-agent problems (and increasing shareholder value) will crowd out entrepreneurship in listed companies. It will over-regulate them, making their organizations bureaucratic and short-term oriented.

It is time to redirect the corporate governance discussion to the importance of board dynamics. Well-balanced boards should dedicate more time to the development process of new products instead of following a pre-defined one-size-fits-all rulebook.

The paper pays particular attention to the structure and composition of boards and their role in promoting entrepreneurship and innovation.

Presentation

Paper

Location Details

School of Law
The Liberty Building
University of Leeds
Leeds
LS2 9JT

The Liberty Building is No. 16 on the campus map.

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