Global Corporate Governance Colloquia (GCGC) 2016

The second annual GCGC Conference was hosted by Swedish House of Finance at Stockholm School of Economics on 10 - 11 June 2016 in Stockholm, Sweden.

GCGC 2016, hosted by the Swedish House of Finance at Stockholm School of Economics, brought together a rich array of papers that explored various facets of corporate governance, each contributing novel insights into the mechanisms and effects of governance practices across different jurisdictions and economic sectors. 

Themes included the impact of corporate governance structures on firm performance, the role of political and legal environments in shaping corporate behavior, and the evolving responsibilities of directors and shareholders in modern corporations. 

Several papers investigated how different governance structures, such as staggered boards and anti-takeover provisions, impact firm value and operational efficiency. This theme was central to understanding whether certain governance practices serve to protect incumbent management or genuinely add shareholder value. 

There was significant focus on the intersection of governance with legal and ethical considerations. Discussions centered around whether corporations should prioritize shareholder value maximization or consider broader stakeholder interests, reflecting a critical reassessment of corporate responsibilities beyond profitability.

Featured research analyzed corporate governance through both global and local lenses, acknowledging that governance practices and their effectiveness can vary widely across different jurisdictions. This included studies on the specific challenges and advantages of governance structures in markets like the U.S., China, and Europe.

Participants delved into the influence of different types of investors, including state and foreign institutional investors, on corporate strategies and long-term investment. The role of ownership structures in shaping governance practices and their implications for corporate policy was a recurring subject.

The conference also explored innovative governance mechanisms, such as majority voting systems for board elections and their effect on enhancing transparency and accountability in corporate governance. 

Other topics included the efficacy of traditional governance indices, and the socio-economic implications of bankruptcy laws.