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/ http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf http://irep.iium.edu.my/29629/4/cg.pdf

id	iium-29629
recordtype	eprints
spelling	iium-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 PeerReviewed 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.
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
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/ http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf http://irep.iium.edu.my/29629/4/cg.pdf
first_indexed	2023-09-18T20:43:31Z
last_indexed	2023-09-18T20:43:31Z
_version_	1777409522319491072

Towards Islamic worldview based corporate governance framework

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