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GST > Week 3 > Flashcards

Week 3 Flashcards

1
Q

What is corporate governance?

A

Cooperative rule making by firm and or civil society organizations with little or no direct involvement of governmental institutions

Works though the market not public relations

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2
Q

How did corporate governance grow so big?

A
  • increasing power of businesses
  • the void that the government left
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3
Q

forms of corporate governance

A
  • Corporate social responsibility reporting
  • Condues of conduct
  • Private standards
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4
Q

Key characteristics of corporate governance (2)

A
  • represent requirements relying on certifications and auditing
  • rely on market forces and scrutiny to generate social benefits
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5
Q

Types of private governance standards

A
  • Business - led(regulation for mad cow’s)
  • Civil society-led
  • Multistakeholder
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6
Q

Effectiveness of corporate governance (3 levels)

A
  • Output: the standards and it characteristics
  • Outcome: change in behavior of actors
  • Impact: actual improvement in the problem area
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7
Q

Output of corporate governance

A
  • Stringency of the rules (how amibitous)
  • Quality of the audit
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8
Q

Outcome of corporate governance

A
  • Standard uptake: to what extent are standards adopted
  • Level of compliance: not only adoption but real action to do things
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9
Q

3 levels of impact corporate governance

A

direct
indirect
cognitive

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10
Q

Trade-off in setting standards

A

high/low stringency and high/low impact

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11
Q

3 Direct strategies to improve impact

A
  1. Reward top players
  2. Reduce complexity
  3. Improve relevnce for laggards
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12
Q

Negatives of rewarding top players strategy

A
  • Competition between local and global
  • Tend to award bigger market leaders
  • Price-premiums won’t always hold so smaller corporations will go broke

Backlash: USA not wanting to meet EU standards

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13
Q

Indirect approach strategy

A

Orchestration: synergies between competing and overlapping objectives of actors

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14
Q

Directive orchestration

A

Incorporate private standards and initiatives into regulatory frameworks (legality of verification)

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15
Q

Facilitative orchestration

A

Provide financial, technical support and endorsement

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16
Q

NSMD

A

non-state market driven: transnational private governance activities

17
Q

5 potential explanations from literture why NSMD does not lead to less forest deforestation

A
  1. The insufficient coverage effect (strong)
  2. The crop switching effect (weak)
  3. The weak and fragemented effect (weak)
  4. The perverse market incentive effect (weak)
  5. The delayed impact effect (weak)
18
Q

Forum shopping

A

Producers that look at different certifications and take the least difficult one

19
Q

4 recommmendations to better use NSMD

A
  • Subsidairies of firms seeking certification
  • Partial certification
  • Remote sensing and GIS data (more research)
  • Jurisdictional approach: whole area needs to comply in order to get an certification
20
Q

Five conditions that are likely to determine effectiveness of TNO in fostering sustainability objectives

A
  1. Problem structure
  2. Stringency of standards
  3. The quality of audit
  4. Acces of relevant soietal actors to decision making venues and procedures –> enhances accountability and legitimacy
  5. Uptake of standards by relevant actors
21
Q

Indicators used to evaluate stringency

A
  • Detail
  • Quantifiable targets
  • Ambition
  • Performance
  • Management
22
Q

Indicators used to evaluate quality of the audit

A
  • Third party auditing
  • The auditing firm is accredited by independent organizations
  • The standard requires 100% comliance with its rules
  • The audit results are publicly available
  • The standard includes severe sanctions in cases of non-compliance
23
Q

VSS

A

Voluntary Sustainability Standards: private standards that require products to meet specific economic, socal and environmental sustainability metrics

24
Q

2 pathways of VSS

A

Supply driven
Demand driven

25
Q

Resources of producers/farmers

A
  • Consumer facing premiums
  • Philanthropic resources
  • Development assistance
26
Q

Mainstream paradox

A

Making a niche market mainstream most often decreases the values and norms which makes it not sustainable anymore

27
Q

NSMD governance and why it does not work for deforsestation (3)

A
  • Voluntary rules
  • Multiple stakeholders
  • Difficult to find causality
28
Q

Pathways that could improve effectiveness of TNO (3)

A
  • Maintenance of the multi tier system (less complexity)
  • Standards may converge
  • Standards operating at national level instead of global
29
Q

Results effectiveness aquaculture and fisheries

A
  • Tension, unceratinty, weak and fragemented, not taxation, low consumer awareness
  • variaty of stringencies
  • variaty of auditing quality
  • discrimination in access
  • modest uptake
30
Q

low outcome of VSS due to the producers

A
  • lack of knowledge
  • lack of resources
    mainstream paradox
31
Q

Trade-off VSS

A

High standards + high premium = low uptake
Medium standards + medium premium = medium adaptation
High standards and facilitating help, however, due to insufficient producer capacity there is still an implementation gap

GST (8 decks)

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