Corporate Governance and Sustainable Value Creation Models: Lessons from Germany, the United Kingdom, South Africa, India, Botswana, and Sri Lanka

Preface
Acknowledgments
Contents
List of Figures
List of Tables
Chapter 1: The Private Purpose towards Public Purpose of the Company
	Introduction
	The Role of Companies in Public Governance
		Private Governance of Corporations/Shareholderism
		Public Governance of Corporations/Stakeholder Capitalism
	Types of Stakeholder Capitalism
		Instrumental Stakeholder Capitalism in the United Kingdom
		Classic Stakeholder Capitalism in South Africa
		Beneficial Stakeholder Capitalism in the USA
		Structural Stakeholder Capitalism
	References
Chapter 2: Stewardship Flavored Agents for Anglo-American Models in the UK, South Africa, and India
	Introduction
	Corporate Value Creation Continuum
	Agency Theory
		Assumptions of Agency Theory
			Separation of Ownership and Control
			Self-Interests/Opportunism
			Asymmetric Information
			Goal Conflict
			Shirking and Risk Preference
		Bounded Rationality
		Agency Problem
		Agency Cost
		Solutions for Agency Problem
			Monitoring and Control
			Outcome-Based Contracts
			Behavioral-Based Contracts
			Incentive Mechanism
			Increasing Debts of the Company
			Independent Directors
			Blockholders
			Distribution of Profits
		Criticism Against Solutions for Agency Problem
		Stewardship Flavor for Managers
	References
Chapter 3: Corporate Value Creation Model in the UK: A Comparative Study with South Africa, India, Botswana, Sri Lanka, and Germany
	Significance of the Chapter
	Introduction
		Background of the Study
		Study Problem
		Study Questions
	Discussion
		Shareholder Primacy
		Shareholder Primacy and Shareholder Activism
		Shareholder Activism with Environmental and Social Issues
		New Characteristics of Modified UK’s Corporate Value Model
			Duties of Directors: The UK Approach
			The Enlightened Shareholder Value
			Fiduciary Duty: To Act in Good Faith and in the Interest of the Company
			Fiduciary Duty: Promote the Success of the Company
		The Triggers of the Modified UK Corporate Value Model for Long-Term Sustainable Value Creation
			Enlightened Shareholder Value (ESV)
			Accountability for Stakeholders
		Relative Place of the UK Model on the Corporate Value Creation Continuum
		The Insights from the Modified UK Corporate Value Model to Emerging Countries
	Conclusion
	References
Chapter 4: Corporate Value Creation Model in South Africa: A Comparative Study with the UK, India, Sri Lanka, Botswana, and Germany
	Significance of the Chapter
	Introduction
		Background of the Study
		Study Problem
		Study Questions
	Discussion
		New Characteristics of Modified South African Corporate Value Model
			King I Report on Corporate Governance for South Africa 1994
			King II Report on Corporate Governance for South Africa 2002
			King III Report on Corporate Governance for South Africa 2009
			Governing Stakeholder Relationships
			Integrated Reporting and Disclosure
			King IV Report on Corporate Governance for South Africa 2016
				Three Paradigm Shifts
				Integrated Thinking and Ethical Leadership
				Integrated Thinking and Corporate Citizenship
				Integrated Thinking and Stakeholder Inclusivity
			Integrated Thinking and Integrated Reporting
				Combined Assurance for Integrated Information
				Integrated Thinking
				Integrated Reporting
				Apply and Explain Disclosure Approach
				Types of Organizations Applicable for Code of Corporate Governance
		The Triggers of the Modified South African Corporate Value Model for Long-Term Sustainable Value Creation
			Corporate Citizenship
			Social and Ethics Committee
			Duties of Directors
			Duty to Avoid Conflict of Interest
			Duty to Act in Good Faith and in the Interest of the Company
			Derivative Actions and Stakeholder Inclusivity
			Original Authority Versus Delegated Authority of Directors
		Relative Place of the South African Model on the Corporate Value Creation Continuum
		Insights from the Modified South African Corporate Value Model to Emerging Countries
	Conclusion
	References
Chapter 5: Corporate Value Creation Model in India: A Comparative Study with the United Kingdom, South Africa, Botswana, Sri Lanka, and Germany
	Significance of the Study
	Introduction
		Background of the Study
		The Study Problem
		Study Questions
	Discussion
		New Characteristics of Modified Indian Corporate Value Model
		The Triggers of the Modified Indian Corporate Value Model for Long-Term Sustainable Value Creation
			The Expansion of Fiduciary Duty of Directors and Shareholder Primacy
				In Good Faith
				Interest of the Company
				Shareholder Primacy and Berle-Dodd Debate
				Shareholder Primacy and Shareholders as a Whole
			Mandatory Corporate Social Responsibility Expenditure
				Reporting on Social and Environmental Impacts
				Integrated Reporting in India
			The Independent Directors
		Relative Place of the Indian Model on the Corporate Value Creation Continuum
		The Insights from the Modified Indian Corporate Value Model to Emerging Countries
	Conclusion
	References
Chapter 6: Corporate Value Creation Model in Botswana: A Comparative Study with the United Kingdom, South Africa, India, Sri Lanka, and Germany
	Significance of the Study
	Introduction
		Background of the Study
		Study Problem
		Study Questions
	Discussion
		The Characteristics of the Botswana Corporate Value Model
			Codes of Corporate Governance
			Duties of Directors
		The Triggers of the Botswana Corporate Governance Value Model for Long-Term Sustainable Value Creation
		Relative Place of the Botswana Model on the Corporate Value Creation Continuum
		Insights from the Corporate Value Models of the United Kingdom, South Africa, and India to Emerging Countries
	Conclusion
	References
Chapter 7: Corporate Value Creation Model in Sri Lanka: A Comparative Study with the United Kingdom, South Africa, India, Botswana, and Germany
	Significance of the Study
	Introduction
		Background of the Study
		The Study Problem
		Study Questions
	Discussion
		The Characteristics of Sri Lankan Corporate Value Model
			Anglo American Corporate Value Creation Model’s Characteristics in Sri Lanka
				Minority Protection in Sri Lanka
				Minority Shareholders Protection in South Africa
				Minority Shareholder Protection in India
				Minority Protection under the Continental European Corporate Value (German) Model
				The Triggers of the Sri Lankan Corporate Governance Value Model for Long-Term Sustainable Value Creation
				Delegation of Powers to Committees of the Board of Directors
			Status in Quo on Corporate Governance Codes of 2017 and 2023
			Duties of Directors
				Fiduciary Duties of Directors to act in Good Faith and in the Interest of the Company
				Relative Place of the Sri Lankan Model on the Corporate Value Creation Continuum
				The Insights from the United Kingdom, South Africa, and Indian Corporate Value Model for Sri Lanka and Other Emerging Countries
	Conclusion
	References
Chapter 8: Continental European Model of Corporate Governance
	Significance of the Study
	Introduction
		Social Market System
		Codetermination
		Bank-Based System
		The Study Problem
		Study Questions
	Discussion
		Characteristics of German Corporate Governance Model
			One-Tier Board
			Two-Tier Boards
				The Supervisory Board
			Management Board (Vorstand)
			Advantages of Two-Tier Boards
			Shareholders
		Triggers of the German Model for Long-Term Sustainable Value Creation
		Relative Place of the German Model on the Corporate Value Creation Continuum
		The Insights from the German Model for Emerging Countries
	Conclusion
	References