Governance arbitrage – a permanent risk?


The purpose of corporate governance is synthesising a company’s abilities to identify, assess and take advantage of opportunities for profitable growth and sustainable development. Long-term shareholder value creation – compared to a vague stakeholder orientation – still seems the most suitable concept to guide corporate governance:

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Role modelling the BOD function


Ensuring that functioning corporate governance is in place is a board of directors’ key task – as advocate and enforcer (George (2013)). The more ownership is dispersed, disengaged or indecisive, the more a functioning corporate governance and a cohesive board with complementary competencies of the directors matter (cf. Barton (2011)).

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The ‘market-to-equity’ algorithm


When thinking about a suitable approach for creating value, the attractiveness of a market (including adjacent growth opportunities) – ideally a ‘limitless’ market (Kutcher et al. (2014)) – with its momentum seems critical to success. It is a different but valid notion of the commonly used phrase ‘You can’t beat the market.’:

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