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Corporate governance and the Fourth Industrial Revolution: promises and challenges

In: Handbook of Research on Strategic Leadership in the Fourth Industrial Revolution

Author

Listed:
  • Maria Goranova
  • Yanqiu Ren
  • Marti Sagarra
  • Sarthak Singh
  • Cynthia Clark

Abstract

Digital transformation and the related scope and velocity of change pose a plethora of new challenges: from taking advantage of the opportunities related to artificial intelligence (AI), machine learning (ML), digital platforms, and advanced technologies, to adapting corporate governance policies and practices. The authors conduct a bibliometric analysis to examine recent trends in corporate governance research, with particular focus on those related to the Fourth Industrial Revolution. They first focus on the purpose of corporate governance as related to the conceptualization of the firm, its purpose, and the trust bestowed on corporate managers to executive it. They then discuss three main corporate governance mechanisms: (1) board of directors; (2) executive compensation; and (3) shareholder monitoring, engagement, and activism. Finally, they conclude by examining the implications of corporate governance for addressing grand societal challenges, and how corporate governance paradoxes are affected by the Fourth Industrial Revolution.

Suggested Citation

  • Maria Goranova & Yanqiu Ren & Marti Sagarra & Sarthak Singh & Cynthia Clark, 2024. "Corporate governance and the Fourth Industrial Revolution: promises and challenges," Chapters, in: Zeki Simsek & Ciaran Heavey & Brian C. Fox (ed.), Handbook of Research on Strategic Leadership in the Fourth Industrial Revolution, chapter 21, pages 475-508, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21349_21
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    File URL: https://www.elgaronline.com/doi/10.4337/9781802208818.00030
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