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ECGR 688: Corporate Governance and Social Responsibility Report a Broken Link



This course is designed to provide students with a thorough grounding in corporate governance theory, research, and practice, including associated reporting and regulation. Students will become familiar with and critique the academic literature in the area, as well as develop their ability to integrate and synthesize topics in order to appreciate current debates and explore potentially fruitful avenues for development.

Required Readings

Week 1: Introduction to Corporate Governance and Social Responsibility

Reading 1.1: Carroll, A. B. (1999). Corporate social responsibility: Evolution of a definitional construct. Business & Society, 38(3), 268–295.
Reading 1.2:  Eccles, R. G., Johnstone-Louis, M., Mayer, C., & Stroehle, J. C. (2020). The board’s role in sustainability. Harvard Business Review, 98(5), 48.
Reading 1.3: Tricker. B. (2005). Corporate governance—a subject whose time has come. Corporate Ownership & Control, 2(2), 11–19.

Week 2: The Corporate Governance Codes

Video 2.1: The Ivey Academy. (2020, April 23). Canadian leadership in corporate governance with Institute of Corporate Directors CEO Rahul Bhardwaj [Video]. YouTube. https://youtu.be/RLgZWOI3fk4
Video 2.2: The Financial Review. (2020, February 2). Warren Buffett explains the 3 main tasks for a board of directors [Video]. YouTube. https://youtu.be/nVWDUOi44OI
Reading 2.1: Andreone, CR., & Lee, RM. (2016/201721). Corporate governance and directors’ duties in Canada: Overview. Practical Law Company. https://www.lawsonlundell.com/media/news/553_Corporate%20governance%20and%20directors_%20duties%20Practial%20Law%20Guide%202016-2017.pdf
Reading 2.2: Quinn, J. (2019). The sustainable corporate objective: Rethinking directors’ duties. Sustainability, 11, 1–12. https://doi.org/10.3390/su11236734
Reading 2.3: Price, N. J. (2018, May 18). The roles and responsibilities of a board of directors in Canada. Diligent Insights. https://diligent.com/insights/board-of-directors/the-roles-and-responsibilities-of-a-board-of-directors-in-canada/
Reading 2.4: Beretta, S. (2019). Directors' duties and risk governance. In Linsley, P., Shrives, P., & Wieczorek- Kosmala, M. (Eds.), Multiple perspectives in risk and risk management (pp. 3—35). Springer Proceedings in Business and Economics. https://link.springer.com/chapter/10.1007/978-3-030-16045-6

Week 3: Corporate Governance Board Components

Video 3.1: Inside America’s Boardrooms. (2016, January 5). Key steps to building an effective board [Video]. YouTube. https://youtu.be/K8uOK8Ke-dc
Reading 3.1: Paine, L. S., & Srinivasan, S. (2019, October 14). A guide to the big ideas and debates in corporate governance. Harvard Business Review.
Reading 3.2: Chen, J. Z., Cussatt, M., & Gunny, K. A. (2020). When are outside directors more effective monitors? Evidence from real activities manipulation. Journal of Accounting, Auditing & Finance, 35(1), 26–52.
Video 3.2: Inside America’s Boardrooms. (2017, June 27). How boards can better communicate executive compensation to investors [Video]. YouTube. https://youtu.be/L-t_IlRfUTA
Reading 3.3: Oranburg, S., & Kahn, B. (2020). Online onboarding: Corporate governance training in the COVID-19 Era. Duquesne University School of Law Research Paper No. 2020-09, Arizona State University Corporate and Business Law Journal. http://dx.doi.org/10.2139/ssrn.3648687

Week 4: Evolving Corporate Governance Models

Video 4.1: BDO Unibank. (2018, April 17). Family business III: Grow your business the right way with corporate governance [Video]. YouTube. https://youtu.be/D2ZdTb-i5LA
Reading 4.1: Franks, J. R., & Mayer, C. (2017). Evolution of ownership and control around the World: The changing face of capitalism. ECGI Working Paper Series in Finance, No. 503/2017. https://ecgi.global/sites/default/files/working_papers/documents/5032017.pdf
Video 4.2: Valerio, B. (2020, October 6). A 2020 look at corporate governance trends in Asia-Pacific [Video]. YouTube. https://youtu.be/j3oNPuleOxo
Reading 4.2: Şener, B. (2020). Chaebol reform: Politics of introducing business reforms in South Korea. Lund University: Centre for East and South-East Asian Studies. https://lup.lub.lu.se/luur/download?func=downloadFile&recordOId=9031775&fileOId=9031776

Week 5: Building More Effective Boards

Reading 5.1: Cebon, P. (2017, January 16). The 3 company crises boards should watch for. Harvard Business Review Digital Articles, 2–6.
Video 5.1: Leahy, S. (2010, October 19). Robert’s rules of order—How to be an effective chair (what to say when…) [Video]. YouTube. https://youtu.be/uvLDlPlxaRg
Reading 5.2: Alhossini, M. A., Ntim, C. G., & Zalata, A. M. (2021). Corporate board committees and corporate outcomes: An international systematic literature review and agenda for future research. The International Journal of Accounting, 56(1), 2150001. https://doi.org/10.1142/S1094406021500013
Reading 5.3: Malik, M. F., Zaman, M., & Buckby, S. (2020). Enterprise risk management and firm performance: Role of the risk committee. Journal of Contemporary Accounting & Economics, 16(1), 1–22.
Video 5.2: Beatty, D. (2019, July 16). What do I think about quotas in Canada? | Corporate governance expert David Beatty [Video]. YouTube. https://youtu.be/q3Ckp46ltCE
Reading 5.4: Brennan, N. M., Subramaniam, N., & van Staden, C. J. (2019). Corporate governance implications of disruptive technology: An overview. The British Accounting Review, 51(6). http://dx.doi.org/10.1016/j.bar.2019.100860

Week 6: Corporate Social Responsibility

Reading 6.1: Carroll, A. B. (2016). Carroll’s pyramid of CSR: Taking another look. International Journal of Corporate Social Responsibility, 1(3). https://doi.org/10.1186/s40991-016-0004-6
Reading 6.2: Dahlsrud, A. (2008). How corporate social responsibility is defined: An analysis of 37 definitions. Corporate Social Responsibility and Environmental Management, 15(1), 1–13. https://doi.org/10.1002/csr.132
Reading 6.3: Matten, D., & Moon, J. (2008). “Implicit” and “explicit” CSR: A conceptual framework for a comparative understanding of corporate social responsibility. Academy of Management Review, 33(2), 404–424.
Reading 6.4: Rangan, V. K., Chase, L., & Karim, S. (2015). The truth about CSR. Harvard Business Review. 93(1–2), 40-49.

Week 7: Corporate Social Responsibility and Financial Performance

Reading 7.1: Alshehhi, A., Nobanee, H., & Khare, N. (2018). The impact of sustainability practices on corporate financial performance: Literature trends and future research potential. Sustainability, 10(2), 494. https://doi.org/10.3390/su10020494
Reading 7.2: Choi, A. (2017, December 4). Why sustainable companies can outperform. Morgan Stanley. https://www.morganstanley.com/access/why-sustainable-companies-can-outperform
Video 7.1: TEDx Talks. (2015, July 9). The social responsibility of business [Video]. YouTube. https://youtu.be/Z5KZhm19EO0
Reading 7.3: Imai, S., & Colgrove, S. (2021, February 22). Investors are increasingly shunning mining companies that violate human rights. The Conversation. https://theconversation.com/investors-are-increasingly-shunning-mining-companies-that-violate-human-rights-154702
Reading 7.4: Wang, Z., & Sarkis, J. (2017). Corporate social responsibility governance, outcomes, and financial performance. Journal of Cleaner Production, 162, 1607–1616.

Week 8: Sustainable Development and Corporate Sustainability

Reading 8.1: GRI.(2016a). GRI 101: Foundation 2016. https://www.globalreporting.org/standards/media/1036/gri-101-foundation-2016.pdf
Reading 8.2: GRI. (2016b). GRI 102: General Disclosures 2016. https://www.globalreporting.org/standards/media/1037/gri-102-general-disclosures-2016.pdf
Reading 8.3: Stantec. (2022). Sustainability Report 2021. https://www.stantec.com/content/dam/stantec/files/PDFAssets/2021/stantec-sustainability-report-2021.pdf
Video 8.1: TEDx Talks. (2020, February 3). Sustainable business | Frank Wijen |TEDxErasmusUniversityRotterdam [Video]. YouTube. https://youtu.be/Y5fR_KAVRMo

Supplementary Readings

Week 1 Supp. Rdgs.

Beatty, D. (2016, August 24). Rotman governance: Corporate social responsibility | corporate governance expert [Video]. YouTube. https://youtu.be/eM280LoCoYo
Whelan. T. (2021). Boards are obstructing ESG—at their own peril. Harvard Business Review. https://hbr.org/2021/01/boards-are-obstructing-esg-at-their-own-peril

Week 2 Supp. Rdgs.

Stikeman Elliott. (2018, May 1). Directors and officers in Canada. Stikeman Elliott LLP. https://stikeman.com/en-ca/kh/guides/Directors-and-Officers-in-Canada
Ottalini, S. M. (2011, February 8). Enron scandal (Emmy award) [Video]. YouTube. https://youtu.be/2GdvKh3Gr3E

Brief overview of the Enron scandal with phone audios by traders that manipulated events.
The Financial Controller. (2020, April 15). Worldcom accounting fraud explained! [Video} YouTube. https://youtu.be/hlrmuTRUI1U

Review of the WorldCom’s accounting fraud that was perpetuated by the CEO, CFO, and controller.
Canada
CalPERS. (2015, March 15). Global governance principles. https://www.calpers.ca.gov/docs/forms-publications/global-principles-corporate-governance.pdf
Canadian Legal Information Institute. (2020, January 1). Canada Business Corporations Act, RSC 1985, c C-44. CanLII. https://www.canlii.org/en/ca/laws/stat/rsc-1985-c-c-44/latest/rsc-1985-c-c-44.html
Canadian Securities Administrators. (2015, April 9). CSA notice of amendments to National Instrument 51-102 Continuous Disclosure Obligation, National Instrument 41-101 General Prospectus Requirements and National Instrument 52-110 Audit Committees. CSA.
Ontario Securities Commission. (2004 January 16). Multilateral Instrument 52-110 Audit committees. https://www.osc.ca/en/securities-law/instruments-rules-policies/5/52-110
Ontario Securities Commission. (2005a, June 17). National Instrument: NI-58-101: Disclosure of corporate governance practices. https://www.osc.ca/en/securities-law/instruments-rules-policies/5/58-101
Ontario Securities Commission. (2005b, June 17). National Policy: 58-201: Corporate governance guidelines. https://www.osc.ca/sites/default/files/pdfs/irps/rule_20050617_58-201_corp-gov-guidelines.pdf
Ontario Securities Commission. (2008, December 19). Request for comment: Proposed repeal and replacement of National Policy 58-201 Corporate Governance Guidelines, National Instrument 58-101 Disclosure of Corporate Governance Practices, and National Instrument 52-110 Audit Committees and Companion Policy 52-110CP Audit Committees. https://www.osc.ca/sites/default/files/pdfs/irps/rule_20081219_58-201_rfc.pdf
UK
Financial Reporting Council. (2020, January). Annual review of the UK corporate governance code. https://www.frc.org.uk/getattachment/53799a2d-824e-4e15-9325-33eb6a30f063/Annual-Review-of-%20the-UK-Corporate-Governance-Code,-Jan-2020%20Final-Corrected.pdf
Financial Reporting Council. (2018a, July 16). Guidance on board effectiveness. https://www.frc.org.uk/document-library/corporate-governance/2018/guidance-on-board-effectiveness
Financial Reporting Council. (2018b, July). The UK corporate governance code. https://www.frc.org.uk/getattachment/88bd8c45-50ea-4841-95b0-d2f4f48069a2/2018-UK-Corporate-Governance-Code-FINAL.pdf
Financial Reporting Council. (2018c, July 16). A UK corporate governance code that is fit for the future. https://www.frc.org.uk/news/july-2018/a-uk-corporate-governance-code-that-is-fit-for-the
Financial Reporting Council. (2016, April). Guidance on audit committees. https://www.frc.org.uk/getattachment/6b0ace1d-1d70-4678-9c41-0b44a62f0a0d/Guidance-on-Audit-Committees-April-2016.pdf
Financial Reporting Council. (2012, September). The UK stewardship code. https://www.frc.org.uk/getattachment/d67933f9-ca38-4233-b603-3d24b2f62c5f/UK-Stewardship-Code-(September-2012).pdf
US
Nasdaq Exchange Boards. (2020, July 22). Corporate governance guidelines. https://ir.nasdaq.com/static-files/3e005938-23c9-4adc-b917-a4e3beca626c
NYSE Services. (2014, December 18). Corporate governance guide. https://www.nyse.com/publicdocs/nyse/listing/NYSE_Corporate_Governance_Guide.pdf
Pinto, A. R. (2010). An overview of United States corporate governance in publicly traded corporations. The American Journal of Comparative Law, 58, 257–283. http://www.jstor.org/stable/20744541
OECD
OECD. (2015). G20/OECD principles of corporate governance. https://doi.org/10.1787/9789264236882-en
OECD. (2020). Discover the OECD: Better policies for better lives. https://www.oecd.org/about/47747755.pdf

Week 3 Supp. Rdgs.

Lee, W.-M. (2020). The determinants and effects of board committees. Journal of Corporate Finance, 65, 1–25. https://doi.org/10.1016/j.jcorpfin.2020.101747
The Committee on the Financial Aspects of Corporate Governance and Gee and Co. Ltd. (1992). Report of the committee on the financial aspects of corporate governance. https://www.frc.org.uk/getattachment/9c19ea6f-bcc7-434c-b481-f2e29c1c271a/The-Financial-Aspects-of-Corporate-Governance-(the-Cadbury-Code).pdf

UK
Sarbanes-Oxley Compliance Professionals Association. (n.d.). The Sarbanes Oxley Act. https://sarbanes-oxley-act.com/

US
Daily Compilation of Presidential Documents (2010, July 21). Dodd-Frank Wall Street Reform and Consumer Protection Act. https://www.govinfo.gov/content/pkg/PLAW-111publ203/pdf/PLAW-111publ203.pdf

US
 
PBS NewsHour. (2018, September 13). How the 2008 financial crisis crashed the economy and changed the world [Video]. YouTube. https://youtu.be/fXkeh8jiMdk

Week 4 Supp. Rdgs.

CalPERS. (2015, March 16). Global governance principles. https://www.calpers.ca.gov/docs/forms-publications/global-principles-corporate-governance.pdf
Canada Revenue Agency. (2014, April 10). IC89-2R3 directors’ liability. Government of Canada. https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic89-2.html

Week 5 Supp. Rdgs.

Global Reporting Initiative. (2020). GRI standards—English. https://www.globalreporting.org/how-to-use-the-gri-standards/gri-standards-english-language/
OECD. (2021, June 30). OECD Corporate governance factbook—2021. https://www.oecd.org/corporate/corporate-governance-factbook.htm
Gardner, H. K., & Peterson, R. S. (2019). Back channels in the boardroom: How to prevent side conversations between directors from blocking progress. Harvard Business Review, 97(5), 106–113. Harvard Business Publishing. https://hbr.org/2019/09/back-channels-in-the-boardroom
Moats, M., & DeNicola, P. (2021, March 11). You say you want a more diverse board. Here’s how to make it happen. Harvard Business Review Digital Articles, 1–6.
Picciau, C. (2020). The (un)predictable impact of technology on corporate governance. Hastings Business Law Journal, 17(1), 67–136. http://dx.doi.org/10.2139/ssrn.3643500
Lovejoy, K. (2021, July 22). Cybersecurity: How do you rise above the waves of a perfect storm? EY. https://www.ey.com/en_gl/cybersecurity/cybersecurity-how-do-you-rise-above-the-waves-of-a-perfect-storm
YVR. (n.d.). Board skills and experience matrix. https://www.yvr.ca/en/about-yvr/leadership-and-accountability/board-of-directors/about-the-board/board-skills-and-experience-matrix

Week 6 Supp. Rdgs.

Carroll, A. B. (2021). Corporate social responsibility: Perspectives on the CSR construct’s development and future. Business & Society,60(6) 1258–1278. https://doi.org/10.1177/00076503211001765

Week 7 Supp. Rdgs.

BlackRock. (n.d.). Sustainable investing. https://www.blackrock.com/us/individual/investment-ideas/sustainable-investing
Morgan Stanley. (2017, August 9). Millennials drive growth in sustainable investing. https://www.morganstanley.com/ideas/sustainable-socially-responsible-investing-millennials-drive-growth
Serafeim, G. (2014). Turning a profit while doing good: Aligning sustainability with corporate performance. Center for Effective Public Management at Brookings. https://www.brookings.edu/research/turning-a-profit-while-doing-good-aligning-sustainability-with-corporate-performance