Towards Islamic worldview based corporate governance framework
Codes on corporate governance (CG) mainly derive recommendations from the concept of agency theory. The said theory and one of the earliest reports on CG, i.e. Cadbury Report (1992) in UK focused specifically on shareholder oriented nature of governance. Later on, the accountability of directors has...
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| Format: | Book Chapter |
| Language: | English English |
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Universiti Putra Malaysia Press (UPM Press)
2012
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| Online Access: | http://irep.iium.edu.my/29629/ http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf http://irep.iium.edu.my/29629/4/cg.pdf |
| _version_ | 1848780159069454336 |
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| author | Htay, Sheila Nu Nu |
| author_facet | Htay, Sheila Nu Nu |
| author_sort | Htay, Sheila Nu Nu |
| building | IIUM Repository |
| collection | Online Access |
| description | Codes on corporate governance (CG) mainly derive recommendations from the concept of agency theory. The said theory and one of the earliest reports on CG, i.e. Cadbury Report (1992) in UK focused specifically on shareholder oriented nature of governance. Later on, the accountability of directors has been extended to other stakeholders. Therefore, if the trend of the evolution of the corporate governance is observed, shareholder-centred role of the directors has been integrated with responsibilities towards the stakeholders. It can be summarized that the current CG guidelines are a combination of the concepts of stakeholder theory and agency theory. Hence, overall progress of the development of the conventional CG codes has been done with a problem solving approach by tackling emerging problems. However, even with the existence of the guidelines, CG failures still exist. Thus, the effectiveness of the existing codes are questionable since they are not concrete solutions. It might be for the reason that they are man-made guidelines and based on the human reasoning after examining past events and predicting possible future problems. Therefore, it should be concluded that only Islamic worldview based corporate governance framework (IWBCGF) will guide the directors to perpetual solutions of the current and future CG problems. |
| first_indexed | 2025-11-14T15:29:14Z |
| format | Book Chapter |
| id | iium-29629 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T15:29:14Z |
| publishDate | 2012 |
| publisher | Universiti Putra Malaysia Press (UPM Press) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-296292013-08-16T01:10:25Z http://irep.iium.edu.my/29629/ Towards Islamic worldview based corporate governance framework Htay, Sheila Nu Nu HG1501 Banking Codes on corporate governance (CG) mainly derive recommendations from the concept of agency theory. The said theory and one of the earliest reports on CG, i.e. Cadbury Report (1992) in UK focused specifically on shareholder oriented nature of governance. Later on, the accountability of directors has been extended to other stakeholders. Therefore, if the trend of the evolution of the corporate governance is observed, shareholder-centred role of the directors has been integrated with responsibilities towards the stakeholders. It can be summarized that the current CG guidelines are a combination of the concepts of stakeholder theory and agency theory. Hence, overall progress of the development of the conventional CG codes has been done with a problem solving approach by tackling emerging problems. However, even with the existence of the guidelines, CG failures still exist. Thus, the effectiveness of the existing codes are questionable since they are not concrete solutions. It might be for the reason that they are man-made guidelines and based on the human reasoning after examining past events and predicting possible future problems. Therefore, it should be concluded that only Islamic worldview based corporate governance framework (IWBCGF) will guide the directors to perpetual solutions of the current and future CG problems. Universiti Putra Malaysia Press (UPM Press) 2012 Book Chapter PeerReviewed application/pdf en http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf application/pdf en http://irep.iium.edu.my/29629/4/cg.pdf Htay, Sheila Nu Nu (2012) Towards Islamic worldview based corporate governance framework. In: Corporate governances practices in Malaysia. Universiti Putra Malaysia Press (UPM Press), Universiti Putra Malaysia Press, Serdang, Malaysia, pp. 17-36. |
| spellingShingle | HG1501 Banking Htay, Sheila Nu Nu Towards Islamic worldview based corporate governance framework |
| title | Towards Islamic worldview based corporate governance framework
|
| title_full | Towards Islamic worldview based corporate governance framework
|
| title_fullStr | Towards Islamic worldview based corporate governance framework
|
| title_full_unstemmed | Towards Islamic worldview based corporate governance framework
|
| title_short | Towards Islamic worldview based corporate governance framework
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| title_sort | towards islamic worldview based corporate governance framework |
| topic | HG1501 Banking |
| url | http://irep.iium.edu.my/29629/ http://irep.iium.edu.my/29629/1/Isalmic_world_view_based_corporate_governance_framework.pdf http://irep.iium.edu.my/29629/4/cg.pdf |