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Similarly, Matten and Moon (2008) argued that the United States of America is a highly individualistic society with higher corporate discretion primarily manifest through philanthropic CSR, whereas European countries seek collaboration and consensus on CSR being more collectivist in nature.
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The parallel pressures to develop surface and mineral interests by two powerful industries – property developers and oil and gas operators, respectively – create a complex regulatory and planning environment for municipalities where protections of resident health, safety, and welfare are left to the discretion of corporate entities and social licenses.
Morellec (2004) Continuous moral hazard model with finite time horizon What is the impact of managerial discretion and corporate control mechanisms on leverage ratios when the manager derives private benefits from investments? High tax rates incentivize managers to set high leverage ratios.
We expect that earnings management would increase after deregulation, since industry deregulation generally increases managerial discretion, whereas internal corporate governance systems are sluggish in adapting to newly changed environments.
Such relative market control endows corporate executives and officers with considerable discretion over resources and, in turn, with considerable corporate powers.
Goldman's unique internal corporate culture rewards teamwork over individualism and discretion over disclosure.
The solution is corporate and administrative transparency, detailed guidelines, minimising discretion and arbitrariness, and clear oversight.
At some point, a company will have to conclude that its duty to investors overrides its responsibility as a good corporate citizen to comply with requests for discretion.
They enable entrepreneurs which can also include people that have fallen out of corporate America or who just want more discretion over their time and work/life balance.
The discretion is part of Rothschild's corporate personality.
Put differently, fear of corporate bigness must be enforced without giving undue discretion to enforcers and courts.
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