Response to Melvin Dubnick’s Remarks ‘Separated by

a Common Subject’

Presented to the BAA Special Interest Groups in Corporate Governance and

Public Services Accounting Conference ‘Governance of the Private and
Public Sectors: Distant Cousins or Non-Identical Twins?’ University of
Nottingham, 14-15 December 2004
Professor Chris Mallin, Director Centre for Corporate Governance Research, The
Birmingham Business School, University of Birmingham, UK
 Key points from Melvin’s remarks

• Time spent in trying to create disciplinary

bridges
• Common language, common subject –
accountability – but the devil is in the detail
• Emphases of different disciplines in relation to
accountability
• Differences even within disciplinary boundaries
• Implications of legal structure
 Key points from Melvin’s remarks

• Some ‘global’ developments too, such as the ‘crisis of

trust’ leading to demands for a ‘new accountability’
• Regulatory aspects emphasised
• More demand for transparency and an inclusive
approach taking account of other stakeholder interests
• Value of virtual and real venues for interdisciplinary
and cross-disciplinary research
 Accountability

• Charkham (1994) ‘Keeping Good Company’:

– Cadbury Committee (1992) ‘They [i.e. the
managers] must be free to drive their companies
forward but exercise that freedom within a
framework of effective accountability’ (page 4)
– ‘….”accountability” covers standards of behaviour
as well as standards of competence’ (page 355)
– An adequate system of accountability should
encompass adequate and timely information for
management, and they should be capable of
understanding it and using it appropriately.
‘Corporate Governance: An International
Review’
• The journal was founded by Professor Bob
Tricker
• First volume published in January 1993 by
Blackwell Publishers
• Bob stated that the journal would ‘adopt an
international and comparative perspective’
 ‘Corporate Governance: An International
Review’
• Bob had great foresight stating that adopting this
international and comparative perspective ‘means
having to reflect differing company law jurisdictions,
regulatory regimes and board level practices; but this is
precisely where the real interest and longer term
developments are going to come from, given the
increasing globalisation of business, the harmonisation
of law and accounting practices and the interaction of
securities markets and their regulators’.
‘Corporate Governance: An International
Review’
• Given the emphasis of the journal on
international and comparative research, the
published papers reflect this approach
• An analysis of papers published in the 4
volumes making up the 2003 issue shows the
following:
 ‘Corporate Governance: An International
Review’
• Country studies from Volume 11 (4 issues, 2003):
- US
- Malaysia
- Turkey
- UK
- Australia
- New Zealand
- Taiwan
- Bahrain
- China
- Korea
- Singapore
- Denmark
 ‘Corporate Governance: An International
Review’
• A review of earlier volumes would add many more
countries including, for example: Nigeria, Belgium,
Saudi Arabia, Estonia, Poland, Ireland, Argentina,
Germany, Russia, Greece, Sweden.
• The papers may concentrate on a specific facet of
corporate governance structure in a particular country,
for example, directors’ remuneration, board structure,
audit committees; or may look at a particular aspect of
corporate governance, for example, corporate
governance and corporate performance
 ‘Corporate Governance: An International
Review’
• Avenues for future publications:
- country specific studies
- structural studies
- comparative studies
- well written case studies
- special issues based either on
conferences/colloquia, or on a particular theme
 Conclusions
• Accountability and transparency are
fundamental to good governance
• Interdisciplinary and cross-disciplinary
research draws on not only subject
complexities, but also cultural, legal and
market complexities
 Response to Melvin Dubnick’s Remarks ‘Separated by
a Common Subject’

Presented to the BAA Special Interest Groups in Corporate Governance and

Public Services Accounting Conference ‘Governance of the Private and
Public Sectors: Distant Cousins or Non-Identical Twins?’ University of
Nottingham, 14-15 December 2004
Professor Chris Mallin, Director Centre for Corporate Governance Research, The
Birmingham Business School, University of Birmingham, UK