Response to Melvin Dubnick

1
Response to Melvin Dubnicks Remarks Separated
by a Common Subject
Presented to the BAA Special Interest Groups in
Corporate Governance and Public Services
Accounting Conference Governance of the Private
and Public Sectors Distant Cousins or
Non-Identical Twins? University of Nottingham,
14-15 December 2004 Professor Chris Mallin,
Director Centre for Corporate Governance
Research, The Birmingham Business School,
University of Birmingham, UK
2
Key points from Melvins remarks

• Time spent in trying to create disciplinary
  bridges
• Common language, common subject accountability
  but the devil is in the detail
• Emphases of different disciplines in relation to
  accountability
• Differences even within disciplinary boundaries
• Implications of legal structure

3
Key points from Melvins remarks

• Some global developments too, such as the
  crisis of trust leading to demands for a new
  accountability
• Regulatory aspects emphasised
• More demand for transparency and an inclusive
  approach taking account of other stakeholder
  interests
• Value of virtual and real venues for
  interdisciplinary and cross-disciplinary research

4
Accountability

• Charkham (1994) Keeping Good Company
• Cadbury Committee (1992) They i.e. the
  managers must be free to drive their companies
  forward but exercise that freedom within a
  framework of effective accountability (page 4)
• .accountability covers standards of behaviour
  as well as standards of competence (page 355)
• An adequate system of accountability should
  encompass adequate and timely information for
  management, and they should be capable of
  understanding it and using it appropriately.

5
Corporate Governance An International Review

• The journal was founded by Professor Bob Tricker
• First volume published in January 1993 by
  Blackwell Publishers
• Bob stated that the journal would adopt an
  international and comparative perspective

6
Corporate Governance An International Review

• Bob had great foresight stating that adopting
  this international and comparative perspective
  means having to reflect differing company law
  jurisdictions, regulatory regimes and board level
  practices but this is precisely where the real
  interest and longer term developments are going
  to come from, given the increasing globalisation
  of business, the harmonisation of law and
  accounting practices and the interaction of
  securities markets and their regulators.

7
Corporate Governance An International Review

• Given the emphasis of the journal on
  international and comparative research, the
  published papers reflect this approach
• An analysis of papers published in the 4 volumes
  making up the 2003 issue shows the following

8
Corporate Governance An International Review

• Country studies from Volume 11 (4 issues, 2003)
• - US
• - Malaysia
• - Turkey
• - UK
• - Australia
• - New Zealand
• - Taiwan
• - Bahrain
• - China
• - Korea
• - Singapore
• - Denmark

9
Corporate Governance An International Review

• A review of earlier volumes would add many more
  countries including, for example Nigeria,
  Belgium, Saudi Arabia, Estonia, Poland, Ireland,
  Argentina, Germany, Russia, Greece, Sweden.
• The papers may concentrate on a specific facet of
  corporate governance structure in a particular
  country, for example, directors remuneration,
  board structure, audit committees or may look at
  a particular aspect of corporate governance, for
  example, corporate governance and corporate
  performance

10
Corporate Governance An International Review

• Avenues for future publications
• - country specific studies
• - structural studies
• - comparative studies
• - well written case studies
• - special issues based either on
  conferences/colloquia, or on a particular theme

11

• Conclusions
• Accountability and transparency are
• fundamental to good governance
• Interdisciplinary and cross-disciplinary
• research draws on not only subject
• complexities, but also cultural, legal and
• market complexities

12
Response to Melvin Dubnicks Remarks Separated
by a Common Subject
Presented to the BAA Special Interest Groups in
Corporate Governance and Public Services
Accounting Conference Governance of the Private
and Public Sectors Distant Cousins or
Non-Identical Twins? University of Nottingham,
14-15 December 2004 Professor Chris Mallin,
Director Centre for Corporate Governance
Research, The Birmingham Business School,
University of Birmingham, UK