Corporate values and corporate governance
Abstract
There is growing interest in corporate values but where do they come from? What factors determine corporate values? This paper argues that they are determined by corporate governance in a broad sense of the word. Three governance mechanisms are emphasized: ownership structure, board composition and stakeholder influence. In smaller companies founder‐owners often play a pivotal role in shaping corporate value systems that influence companies for years to come. In larger companies that separate ownership and control, managers and boards come to play a powerful role. In both cases repeated interaction with customers, employees and other stakeholders shape corporate values by way of corporate reputation and corporate culture.
Keywords
Citation
Thomsen, S. (2004), "Corporate values and corporate governance", Corporate Governance, Vol. 4 No. 4, pp. 29-46. https://doi.org/10.1108/14720700410558862
Publisher
:Emerald Group Publishing Limited
Copyright © 2004, Emerald Group Publishing Limited