Nordberg, Donald (2007) News and corporate governance: what Dow Jones and Reuters teach us about stewardship. Working Paper. Centre for Board Effectiveness, Henley Management College.Full text not available from this repository.
The outcomes of near simultaneous bids for the news organizations Reuters Group plc and Dow Jones & Co. Inc. in 2007 hinged on mechanisms of corporate governance put in place at each company to protect the integrity and independence of the editorial operations. Neither company is a particularly model of good governance, since the restrictions - super-voting shares at DJ, veto-power by the trustees of the Founders Share Company at Reuters - almost completely rule out an open market for corporate control. This paper looks at Reuters - and in even greater detail at Dow Jones, where the private actions of the board and shareholders came into rare public view. It suggests that stewardship theory plays a large role in protecting a perceived social value of the integrity of the news, figuring more heavily in crucial board decision-making than shareholder value. But the outcome of both cases means that the tension between the two is not easily resolved.
|Item Type:||Monograph (Working Paper)|
|Additional Information:||Paper presented at the 10th International Conference on Corporate Governance and Board Leadership, 2-4 October 2007, Centre for Board Effectiveness, Henley Management College|
|Subjects:||University of Westminster > Westminster Business School|
|Depositing User:||Miss Nina Watts|
|Date Deposited:||09 Mar 2010 16:16|
|Last Modified:||09 Mar 2010 16:16|
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