Corporate Governance And Business Ethics In Iceland

Corporate Governance and Business Ethics in Iceland provides real-world case studies of how institutions approach governance and ethics in a country where one organization’s actions often have a massive ripple effect throughout the entire nation.

Corporate Governance and Business Ethics in Iceland provides real-world case studies of how institutions approach governance and ethics in a country where one organization’s actions often have a massive ripple effect throughout the entire nation.

This book examines the efforts of major Icelandic economic institutions to regain the public’s trust, 10 years after the financial crisis that ruined personal savings and fostered anger towards business and politics. The studies collected here provide insights into restoring relationships between communities and institutions.

This book explores the nature and uniqueness of leadership in Iceland within a business and economic context. Starting with an analysis of Iceland’s geographical location, historical development and societal culture, the authors critically examine the major elements of the Icelandic business environment from an individual to a global level, and from economic prosperity to financial collapse. They particularly focus on leadership and human resource management within this unique societal culture and discuss the specific issues that are unique to Iceland, i.e. entrepreneurship, gender egalitarianism, equality, low power-distance, reflecting on, and orienting within contemporary leadership theories. The book covers a variety of analytical methods and cases, providing a unique introduction to leadership in Iceland, and opening avenues for further research into this relatively new phenomenon.

Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- List of figures -- List of tables -- Foreword to the first edition -- Preface to the second edition -- Acknowledgements -- 1 Cycles of governance -- 2 Boards and directors: the political mechanisms of corporate governance -- 3 Finance, law and markets: the institutional elements of corporate governance -- 4 Anglo-American corporate governance -- 5 European corporate governance -- 6 Asia Pacific corporate governance -- 7 Corporate governance in the emerging economies -- 8 The globalization of corporate governance -- 9 Corporate social responsibility -- 10 Corporate sustainability -- CASE STUDIES: CORPORATE GOVERNANCE IN CRISIS -- Enron-era case studies (2001-2004) -- 1 Enron -- 2 WorldCom -- 3 HIH Insurance Group -- 4 Parmalat -- Global financial crisis case studies (2007-2009) -- 5 Lehman Brothers -- 6 Royal Bank of Scotland -- 7 UBS -- 8 Iceland -- Asia Pacific case studies (2009-2014) -- 9 Satyam -- 10 Olympus -- Corporate responsibility and sustainability case studies (2001-2016) -- 11 James Hardie -- 12 BP -- 13 Volkswagen -- Bibliography -- Index

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This volume explores corporate governance from three perspectives: a traditional economic, a philosophical, and an integrated business ethics perspective. Corporate governance has enjoyed a long tradition in the English-speaking world of management sciences. Following its traditional understanding it is defined as leadership and control of a firm with the aim of securing the long-term survival and viability of that firm. But recent business scandals and financial crises continue to provide ample cause for concern and have all fuelled interest in the ethical aspects. As a result, corporate governance has been criticized by many social groups. Economic sciences have failed to provide a clear definition of the corporate governance concept. Complexity increases if we embed the economic approach of corporate governance in a philosophical context. This book seeks to define the concept by examining its economic, philosophical and business ethics foundations.

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