Corporate Governance & Corporate Social Responsiblity Research Paper

Corporate Governance & Corporate Social Responsiblity - Research Paper Example The increasing incidents of scandals in financial organizations has facilitated the need for corporate to play a more active role in promoting good corporate governance and behavior. This paper investigates the roles that banks and institutional investors can play in promoting good corporate governance and behavior in Asian economies. Asian financial institutions, banks and institutional investors play important economic roles in the region. However, just like in other regions across the world have indicated, poor governance of the institutions do not only cause a decline in profitability, but also could destabilize monetary system if the problem becomes widespread (OECD, 2003, p13). Therefore, it is important for the financial institutions to ensure implementation and enforcement of sound corporate governance behavior. Before investigating the role that financial institutions in Asia can play in promoting good corporate governance behavior, it is important to examine the normative f ramework in these organizations in the region. Alayannis, et al (2003) noted that families own majority of businesses and organizations in Asia and hence relations with stakeholders is mostly informal. In addition, the region has a wide economic and legal diversity but countries such as China, India, Malaysia, Pakistan and Hong Kong have similar legal structures governing business operations. According to Johnson and Mitton (2003, p51) over 65% of all listed companies in Asia are private and are managed and run by families. The companies have been in existence for several decades and their success is almost fully attributed to the collective efforts of their owners. These business owners have a tendency of forming extensive interconnected networks of subsidiaries and sister companies, which include partially owned and publicly listed companies. Allen and Douglas (2000) argued that investing in the subsidiaries enables investors to put their investments under their chosen management team. In addition investing in the subsidiaries gives the investors an opportunity to put their money in potentially profitable ventures. However, this mode of investment leads to unfair treatment of investors who do not belong to the family that owns the enterprise. Due to the nature of the business proprietorship, the organizations have strong informal relationships between the stakeholders, who are mainly family members or close friends. In China, the state maintains a strong grip on the ownership of financial organizations and some elements of socialist laws are common especially on the firms’ relations with stakeholders (Klapper and Love 2002). To promote good corporate governance behavior in China, Hong Kong and other Asian countries with similar business and legal framework, banks and other institutional investors should enforce credible laws and regulations. Similarly, judicial systems should enhance their expertise and increase capability to arbitrate conflicts perta ining to corporate governance with fairness and efficiency (Holder, et al 2009). Senior management and board of directors of banks and institutions should play a more proactive role in promoting good corporate governance and behavior in Asian countries. In particular, Gregory (2002, p49) argues that â€Å"

Welfare to work programs Term Paper Example | Topics and Well Written Essays - 1000 words

Welfare to work programs - Term Paper Example It is a requirement for any recipient of CalWORKs who is able-bodied to participate in the activities of the welfare in order to continue receiving support. There are many providers of these programs, for instance, voluntary organisations as well as private companies. They achieve this by securing contracts in order to find employment for the claimants. The payment largely depends on the results and the providers take the risk until they get the required results. The welfare for work law was put in place in order to limit the time one receives welfare, thus the need to participate in the welfare activities for 32 to 35 hours per week, for every week. The introduction of this new welfare system has sparked different and varying viewpoints and understanding of the informants of the program. The understanding of the informants about the policy differs greatly from that of the policy makers and the state administrators. The informants pointed out the numbers of positive outcomes and benefits of these programs. They pointed out that employment improves their self-image and their self-confidence. The fact that they are able to be productive a nd get a source of livelihood from it gave them as continues to give them a sense of achievement and purpose in life. Being employed makes them proud of themselves rather than just receiving welfare and support that they have not worked for. The informants also alluded to the fact that the employment programs they receive help them provide materially for their families. They are able to pay for their bills, as well as buy material possessions for themselves and their children. Informants have also highlighted the fact that the day care programs helped their children gain proper socialization. Moreover, they were contented with the fact that working made them value the little time that they spend with their children. In nut-shell informants view the employment programs in terms of the concrete benefits that