Understanding Corporate Governance Reform in South Africa: Anglo-American Divergence, the King Reports and Hybridization

This article investigates corporate governance reform in South Africa in the context of the country’s international links with Anglo-American corporate governance and domestic pursuit of socioeconomic development. Two key questions are evaluated. (a) How has divergence within the Anglo-American model influenced corporate governance reform in South Africa? (b) Can South Africa’s historical closeness to the Anglo-American model be combined with increasing attention to stakeholder issues to produce a hybrid “African model” of corporate governance? Evaluating these questions, the following issues are explored in turn: the contrast between shareholder and stakeholder models, divergence between U.S. and U.K. approaches to corporate governance as exemplified by Sarbanes-Oxley, locating a South African approach in context of the Anglo-American model, the King reports and an emerging “African” model of corporate governance, and the role of international and domestic factors in shaping South Africa’s ongoing reform process.

Sticks, Stones and Words: Emotional Harm and the English Criminal Law

This article discusses the rule that criminal liability does not normally attach for the causing of emotional harm or mental distress in the absence of proof of a 'recognised psychiatric injury'. It considers what is involved in the diagnosis of psychiatric injury, and to what extent the difference between such injury and 'ordinary' mental distress is one of degree rather than one of kind. It reviews the situations in which the law already criminalises the infliction of emotional harm without proof of psychiatric injury, and assesses the policy arguments for drawing the distinction in the normal case. The article concludes that the law can and should adopt a more flexible approach to cases of this sort.

The Morality of Harm

In this article, we discuss the range of concerns people weigh when evaluating the acceptability of harmful actions and propose a new perspective on the relationship between harm and morality. With this aim, we examine Kelly, Stich, Haley, Eng and Fessler’s (2007) recent claim that, contrary to Turiel and associates, people do not judge harm to be authority independent and general in scope in the context of complex harmful scenarios (e.g., prisoner interrogation, military training). In a modified replication of their study, we examined participants’ judgments of harmful actions in these contexts by taking into account their explanations for their judgments. We claim that both in terms of participants’ judgments and rationales, the results largely confirm our hypothesis that actions involving harm and injustice or rights violation are judged to be authority independent and general in scope, which is a modification of Turiel’s traditional hypothesis.

Opportunity cost based analysis of corporate eco-efficiency: A methodology and its application to the CO2-efficiency of German companies

In this paper, we propose the return-to-cost-ratio (RCR) as an alternative approach to the analysis of operational eco-efficiency of companies based on the notion of opportunity costs. RCR helps to overcome two fundamental deficits of existing approaches to eco-efficiency. (1) It translates eco-efficiency into managerial terms by applying the well-established notion of opportunity costs to eco-efficiency analysis. (2) RCR allows to identify and quantify the drivers behind changes in corporate eco-efficiency. RCR is applied to the analysis of the CO2-efficiency of German companies in order to illustrate its usefulness for a detailed analysis of changes in corporate eco-efficiency as well as for the development of effective environmental strategies. (C) 2010 Elsevier Ltd. All rights reserved.

The ‘Public Interest’ Agency of International Organizations? The case of the OECD Principles of Corporate Governance

This article seeks to outline and explore some of the conditions necessary for International Organizations (IOs) to perform in a public interest fashion through a case study of the Principles of corporate governance formulated by the OECD. Rather than the more commonly documented pathological and dysfunctional behavioural forms of IOs, the case of the Principles, both in their formulation by the OECD, and in their assessment by the World Bank through the ROSC process, represent an episode of IO agency protecting and promoting a wider public interest. In exercising their agency, IO staff, have made the Principles more agreeable to a wider range of interested parties, giving them a general interest orientation, in accordance with a proceduralist definition of public interest. This case should therefore encourage IPE scholars to consider carefully and systematically the sets of circumstances and conditions, which might be required for IO agency to take more socially useful forms. In the final section, three indicators are identified which might be evaluated in future research into the positive public interest agency of IOs across a range of cases.