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Towards Islamic worldview based corporate governance framework

Codes on corporate governance (CG) mainly derive recommendations from the concept of agency theory. The said theory and one of the earliest reports on CG, i.e. Cadbury Report (1992) in UK focused specifically on shareholder oriented nature of governance. Later on, the accountability of directors has...

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Main Author: Htay, Sheila Nu Nu
Format: Book Chapter
Language:English
English
Published: Universiti Putra Malaysia Press (UPM Press) 2012
Subjects:
HG1501 Banking
Online Access:http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf
http://irep.iium.edu.my/29629/4/cg.pdf
http://irep.iium.edu.my/29629/
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spelling my.iium.irep.296292013-08-16T01:10:25Z http://irep.iium.edu.my/29629/ Towards Islamic worldview based corporate governance framework Htay, Sheila Nu Nu HG1501 Banking Codes on corporate governance (CG) mainly derive recommendations from the concept of agency theory. The said theory and one of the earliest reports on CG, i.e. Cadbury Report (1992) in UK focused specifically on shareholder oriented nature of governance. Later on, the accountability of directors has been extended to other stakeholders. Therefore, if the trend of the evolution of the corporate governance is observed, shareholder-centred role of the directors has been integrated with responsibilities towards the stakeholders. It can be summarized that the current CG guidelines are a combination of the concepts of stakeholder theory and agency theory. Hence, overall progress of the development of the conventional CG codes has been done with a problem solving approach by tackling emerging problems. However, even with the existence of the guidelines, CG failures still exist. Thus, the effectiveness of the existing codes are questionable since they are not concrete solutions. It might be for the reason that they are man-made guidelines and based on the human reasoning after examining past events and predicting possible future problems. Therefore, it should be concluded that only Islamic worldview based corporate governance framework (IWBCGF) will guide the directors to perpetual solutions of the current and future CG problems. Universiti Putra Malaysia Press (UPM Press) 2012 Book Chapter REM application/pdf en http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf application/pdf en http://irep.iium.edu.my/29629/4/cg.pdf Htay, Sheila Nu Nu (2012) Towards Islamic worldview based corporate governance framework. In: Corporate governances practices in Malaysia. Universiti Putra Malaysia Press (UPM Press), Universiti Putra Malaysia Press, Serdang, Malaysia, pp. 17-36.
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic HG1501 Banking
spellingShingle HG1501 Banking
Htay, Sheila Nu Nu
Towards Islamic worldview based corporate governance framework
description Codes on corporate governance (CG) mainly derive recommendations from the concept of agency theory. The said theory and one of the earliest reports on CG, i.e. Cadbury Report (1992) in UK focused specifically on shareholder oriented nature of governance. Later on, the accountability of directors has been extended to other stakeholders. Therefore, if the trend of the evolution of the corporate governance is observed, shareholder-centred role of the directors has been integrated with responsibilities towards the stakeholders. It can be summarized that the current CG guidelines are a combination of the concepts of stakeholder theory and agency theory. Hence, overall progress of the development of the conventional CG codes has been done with a problem solving approach by tackling emerging problems. However, even with the existence of the guidelines, CG failures still exist. Thus, the effectiveness of the existing codes are questionable since they are not concrete solutions. It might be for the reason that they are man-made guidelines and based on the human reasoning after examining past events and predicting possible future problems. Therefore, it should be concluded that only Islamic worldview based corporate governance framework (IWBCGF) will guide the directors to perpetual solutions of the current and future CG problems.
format Book Chapter
author Htay, Sheila Nu Nu
author_facet Htay, Sheila Nu Nu
author_sort Htay, Sheila Nu Nu
title Towards Islamic worldview based corporate governance framework
title_short Towards Islamic worldview based corporate governance framework
title_full Towards Islamic worldview based corporate governance framework
title_fullStr Towards Islamic worldview based corporate governance framework
title_full_unstemmed Towards Islamic worldview based corporate governance framework
title_sort towards islamic worldview based corporate governance framework
publisher Universiti Putra Malaysia Press (UPM Press)
publishDate 2012
url http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf
http://irep.iium.edu.my/29629/4/cg.pdf
http://irep.iium.edu.my/29629/
_version_ 1643609721951748096
score 13.211869

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