21st Century Challenges for Corporate Governance

• DOI: http://doi.org/10.1111/corg.12314
• Published date: 01 March 2020
• Date: 01 March 2020

CALL FOR PAPERS

21st Century Challenges for Corporate Governance

Guest Editors

Omrane Guedhami

University of South Carolina

Sofia Johan

College of Business, Florida Atlantic University

Tilburg Law and Economics Center (TILEC)

Florencio Lopez-de-Silanes

SKEMA Business School

National Bureau of Economic Research (NBER)

Siri Terjesen

Kogod School of Business, American University & Norwegian School of Economics

Keynote Speaker

Sanjai Bhagat

(University of Colorado at Boulder)

Deadline for submission to workshop: 1 December 2019

Deadline for submission to special issue: 15 June 2020

Background of the Special Issue

Corporate governance is in a state of flux. Changes are brimming in both developed and

developing economies around the world. There are considerable regulatory adjustments at

national levels as well as transformations in internal governance at the firm level.

The sources of internal governance changes are wide and varied. Structural changes to

the economy have changed the nature of entrepreneurial firm formation, where the

boundaries of the firm are evolving, maybe even disappearing, in many industries. Many

functions that used to be within firms are now outsourced. Managing these outsourced

relations has become more complex, giving rise to new governance problems.

Modes of finance have likewise evolved, giving rise to more complex governance

solutions. Donations, rewards, and equity crowdfunding, as well as marketplace lending, also

known as alternative finance, have become much more common in recent years. These new

modes of alternative finance give rise to new challenges in securing other forms of more

traditional finance for scaling up, and failure to establish proper governance suitable to the

context can give rise to success or failure. At the IPO stage, many firms now seek dual class

listing structures, which puts pressure on regulators to facilitate such structure or risk losing

business, such as the case of Alibaba listing in New York instead of Hong Kong.

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