The Key University UTS Centre for Corporate Governance brings together researchers from accounting, finance, management and legal backgrounds to provide a comprehensive, inter-disciplinary approach to one of the most critical problems faced by all organizations in both the private or public sector. All economic activity requires good corporate governance to maximize the benefits to society. Corporate governance encompasses the relationships between all stakeholders in determining the strategic direction and performance of organizations.
UTS has recognized expertise in the primary disciplines from which an inter-disciplinary UTS Centre for Corporate Governance must draw. These disciplines are accounting, financial economics, management and law. The sum of these disciplines is an appreciation of the economic, legal, financial, managerial and social aspects of governance. Corporate governance entails how organizations are controlled; how they respond to various stakeholders (e.g. owners, employees, customers, regulators); how they are financed; and how they report on their financial and social performance. The multi-disciplinary approach inherent in the UTS Centre will make a unique and innovative contribution to economic, social and legal debate about what constitutes sound corporate governance in the development of socially and economically beneficial organizations.
The UTS Centre for Corporate Governance provides research and teaching outcomes across a range of areas of corporate governance. It facilitates a cross-disciplinary approach to corporate governance, broadly defined. For the most part, researchers in disciplines such as financial economics, management and law examine these issues almost independently of each other. They apply their own disciplinary paradigms, none of which alone can hope to provide the broad perspective needed to identify appropriate legal, economic and social structures which are consistent with good governance. Indeed, the CEO of Mitsubishi Corporation recently stated "students who plan careers in business must understand corporate governance, both in its historical context and its current controversies. The field therefore draws from law, economics, politics, ethics, management, finance and several other categories".
The UTS Centre is concerned with the key issues in corporate governance which Australian and international organizations face, and will demonstrate the value of an inter-disciplinary focus in arriving at appropriate economic and policy understandings of contemporary problems in corporate governance. The focus is international, cross-cultural and comparative with an interest in the governance of all types of corporate entities including their cultural underpinning, mode of incorporation and operation, ownership or membership structure.
Key Issues in Corporate Governance
UTS has experts tackling governance issues within their own disciplinary boundaries. The UTS Centre will bring together these interests, promote integrative and interdisciplinary approaches, and works to produce more influential outcomes. Existing areas of interest include:
- Financial aspects of corporate governance, including the economic impact of outside directors and auditors
- International corporate governance, including comparisons of Anglo-Saxon shareholder value approaches with European stakeholder and Asian systems.
- Corporate governance in financial institutions, especially its role in effective risk management.
- Legal and ethical aspects of corporate governance, such as the impact on governance mechanisms of reforms to legislation regulating the financial sector.
- Social aspects of governance, including an examination of unresolved political and social issues that arise from notions of stakeholder relations and triple bottom line reporting.
The UTS Centre for Corporate Governance focuses upon developing cross-disciplinary participation, addressing key issues of corporate governance on several dimensions:
- Corporate governance and economic activity
- Corporate governance and performance measurement
- Comparative corporate governance across national and economic boundaries
- Corporate governance and legal, regulatory and ethical accountability
The UTS Centre for Corporate Governance will provide the interdisciplinary environment and resources that are required to make a substantive contribution to these questions, both nationally and internationally. The focus of the research will be on contributing to social, political and economic debate, by developing and demonstrating effective solutions to contemporary issues in governance.