Corporate Governance: A Critical Survey of Key Concepts,Issues, and Recent Reforms in the US

This paper critically surveys basic corporate governance concepts and theories, assesses recent international empirical support of theories, and analyzes the impact of major, recent corporate governance reforms in the US. Comparing representative economies identifies the essential features of different corporate governance systems. Therefore, the corporate governance structures of a few countries (England, US, Germany, and Japan) are explored. In second part of the paper, some emergent issues of corporate governance such as the impact of block holders and emergent market regulatory changes are assessed. Finally, the effectiveness of the Sarbanes-Oxley act is evaluated.     

Multi‐foci CSR perceptions,procedural justice and in‐role employee performance: the mediating role of commitment and pride

This study explores differential employee responses to perceived corporate social responsibility (CSR) treatment of social and non‐social stakeholder foci of the community, customers, shareholders and environment along with first‐party employee justice perceptions. At a finance‐sector multinational, we test the mediating role of commitment and pride in accounting for the relationship between perceptions of stakeholder treatment and in‐role performance. We propose and pilot a new multi‐foci CSR measure and include this in a mediated model within a separate study. Socially responsible treatment of customers and the environment play a role in predicting performance; these foci are related to either pride or commitment. Community CSR, first‐party justice perceptions and commitment predict performance either directly or indirectly. Our research shows an absence of any positive employee response associated with CSR towards shareholders. The study uncovers new insights into our understanding of complexities in employee responses to CSR activities.     

Integrated safety stock optimization for multiple sourced stockpoints facing variable demand and lead time

The safety stock placement problem of a multi-stage supply chain comprising multiple sourced stockpoints is addressed in this paper. Each stockpoint faces variability in its downstream demand and suppliers' lead time. The maximum among these suppliers' lead time is determined by employing concepts of order statistics. It is required to find the fill rate and safety stocks at each stockpoint that leads to satisfying the end customer service level at minimum safety stock placement cost. Hence, the fill rates and the safety amounts are decided from a global supply chain perspective. Two models are proposed; a decentralized safety stock placement model and a centralized consolidation model. The decentralized model finds the safety amounts at each stockpoint required to face its underlying lead time demand variability. The consolidation model finds the consolidated safety amounts that will be kept in the relevant consolidation center at each stage. A Benders decomposition technique is developed to handle the nonlinearity and binary restrictions involved in the safety stock consolidation model. Strategies proposed by the consolidation model achieve 45.2-62% reduction in safety amounts that results in a cost savings ranging between 22.2-44.2% as compared to the strategies proposed by the decentralized model.     

Economic lot and delivery scheduling problem for multi-stage supply chains

The economic lot and delivery scheduling problem for a multi-stage supply chain comprising multiple items is studied in this paper. It is required to develop a synchronized replenishment strategy, and specify the sequence of production and the replenishment cycle time that achieves synchronization through the supply chain at minimum cost. The problem is presented in a novel formulation based on the quadratic assignment representation. The common cycle time and the integer multipliers policies are adopted to accomplish the desired synchronization. The two policies are represented by nonlinear models handled through a hybrid algorithm. The algorithm combines linearization, outer approximation and Benders decomposition techniques. Results of the two policies demonstrate that a cost reduction up to16.3% can be attained by employing the integer multipliers policy instead of the common cycle time. Computational experiments show the efficiency of the new formulation and solution algorithm by reaching the optimal solution for large problem instances in short time.