Introduction to Special Issue on Sustainable Corporate Governance
| Published date | 01 January 2019 |
| Author | Ian Tonks,Marc Goergen |
| Date | 01 January 2019 |
| DOI | http://doi.org/10.1111/1467-8551.12325 |
British Journal of Management, Vol. 30, 3–9 (2019)
DOI: 10.1111/1467-8551.12325
Introduction to Special Issue on Sustainable
Corporate Governance
Marc Goergen and Ian Tonks 1
IE Business School, Calle Mar´
ıa de Molina 12, 5th floor, 28006 Madrid, Spain, and 1School of Economics,
Finance and Management, University of Bristol, Priory Road Complex, Priory Road, Bristol BS8 1TU, UK
Corresponding author email: marc.goergen@ie.edu
Papers in this special issue focus on sustainable corporate governancemeasures in the af-
termath of the financial crisis, and a background environmentof increased scepticism over
executivepay and corporate behaviour more generally.The authors provide an overviewof
recent corporate governance reforms, including ‘say-on-pay’ and gender-pay-gap trans-
parency, and explain how the research papers in the special issue contribute to under-
standing of corporate governanceresearch and practice in the areas of boards of directors,
corporate governance reform and corporate cultureand risk-taking.
Introduction
The financial crisis of 2008 has typically been
blamed on weak corporate governance mech-
anisms and excessive risk-taking by financial
institutions (Turner, 2009; Walker, 2009). In the af-
termath of the crisis,there have been a series of reg-
ulatory responses that have attempted to correct
the perceived inadequacies of current governance
structures. These responses have often focused on
The authors would like to thank the members of the
scientific committee for this special issue with the selec-
tion and reviewing of the paper submissions: Christian
Andres (WHU), Andr´
e Betzer (Wuppertal), Jill Brown
(Bentley), Mike Burkart (Stockholm), Salim Chahine
(American University of Beirut), Stuart Cooper (Bristol),
Jay Dahya (Baruch), Sudipto Dasgupta (Lancaster),
Elisabeth Dedman (Nottingham), Gishan Dissanaike
(Cambridge), Daniel Ferreira (London School of Eco-
nomics), Chris Florackis (Liverpool), Maria Goranova
(Wisconsin Milwaukee), Jens Hagendor (Edinburgh),
Brian Main (Edinburgh), Christine Mallin (UEA), Maria
Marchica (Manchester), PatrickMcColgan (Strathclyde),
Geo Meeks (Cambridge), Daniel Metzger (Stockholm),
Roberto Mura (Manchester), Noel O’Sullivan (Lough-
borough), Annie Pye (Cardi), Ailsa R¨
oell (Columbia),
Rajesh Tharyan (Exeter), Steve Thompson (Notting-
ham), Grzegorz Trojanowski(Exeter), Mike Wright (Im-
perial) and Steven Young (Lancaster).
the banking sector (European Securities and Mar-
kets Authority, 2013; Financial Services Author-
ity, 2010), with spillover eects onto other orga-
nizations through, forexample, the UK Corporate
Governance Code (Financial Reporting Council,
2016).
In this special issue of the British Journal of
Management on ‘Sustainable Corporate Gover-
nance’, the research papers provide an assessment
of the state of corporate governance and gover-
nance reforms in the aftermath of the financial
crisis. These papers focus on how firms have re-
sponded to the perceived weaknesses in their gov-
ernance structures, how the regulatory regimes
have changed, and the eect of these changes on
firm structures and performance.
Background
There is increased scepticism of the roleof bankers,
traders and other highly paid individuals in the
financial services industry (Calhoun, 2013; Marti
and Scherer,2016) as well as executive pay and be-
haviour more generally(Bebchuk and Fried, 2006;
Kaplan and Rauh, 2009). The frustration with the
slow regulatory response to the 2008 crisis can,
in part, explain the ‘Shareholder Spring’ investor
C2019 British Academy of Management. Published by John Wiley & Sons Ltd, 9600 Garsington Road, Oxford OX4
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