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Stakeholders, transactional environments and conflict systems (mapping on why the founding charter compact becomes the mainstay of corporate governance)

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  • Rodolfo Apreda

Abstract

In this paper we put forward an alternative approach to dealing with the Charter of any organization, that essential document which ought to be regarded as the mainstay of governance. In the first place, we show that an organization carries out its tasks by becoming a responsive mechanism to fulfill stakeholders’ demands as well as costly restraints stemming from transactional environments. In the second place, organizations behave like conflict-systems within which political issues are of the essence when coping with power, influence, control and authority; on these grounds, we give heed to agenda building and the problem of factions. We argue that such three-tiered structure stands for the preconditions of any Charter. Lastly, we set up the Charter as a compact of regulatory and discretionary governance, comprised not only by the articles and certificate of incorporation, but also internal bylaws of the organization, the Statute of Governance, the Code of Good Practices, and provisions for upgrading, overhauling, and even changing the architecture of governance in its entirety.

Suggested Citation

  • Rodolfo Apreda, 2007. "Stakeholders, transactional environments and conflict systems (mapping on why the founding charter compact becomes the mainstay of corporate governance)," CEMA Working Papers: Serie Documentos de Trabajo. 346, Universidad del CEMA.
  • Handle: RePEc:cem:doctra:346
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    File URL: http://www.ucema.edu.ar/publicaciones/download/documentos/346.pdf
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    References listed on IDEAS

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    1. Rodolfo Apreda, 2002. "How corporate governance and globalization can run afoul of the law and good practices in business: The Enron's disgraceful affair," CEMA Working Papers: Serie Documentos de Trabajo. 225, Universidad del CEMA.
    2. Rodolfo Apreda, 2005. "Public Governance. A Blueprint for Political Action and Better Government," CEMA Working Papers: Serie Documentos de Trabajo. 297, Universidad del CEMA.
    3. Rodolfo Apreda, 2003. "THE SEMANTICS OF GOVERNANCE. (The common thread running through corporate, public, and global governance.)," CEMA Working Papers: Serie Documentos de Trabajo. 245, Universidad del CEMA.
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    Cited by:

    1. Rodolfo Apreda, 2008. "Who is the ultimate master of contractual, regulatory, discretionary and residual cash flows? An answer from the standpoint of corporate governance," CEMA Working Papers: Serie Documentos de Trabajo. 368, Universidad del CEMA.

    More about this item

    Keywords

    charter; corporate governance; stakeholders; transactional environments; conflict-systems; regulatory governance.;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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