Podcast: U-M experts explore role of corporate governance amid political, environmental tumult

EXPERTS ADVISORY

Corporate governance.

It's a big, technical term for the systems and regulations that allow a company to operate with accountability, transparency and fairness.

But how do leaders navigate that in times of political and environmental challenges? How do they keep their backbone in light of shifting societal winds, or evolve when circumstances require that?

On the latest episode of Business & Society, three professors from University of Michigan's Ross School of Business explore the concept of corporate governance through their various lenses of research.

[Link]Cindy Schipani

Cindy Schipani, professor of business law, studies insider trading and giving and their resulting harms.

"Some companies recognize that it is in the interest of shareholders also to consider the interest of the employees, the communities and the environment," Schipani said. "Companies that do so will tend to find employees more productive. Customers might be more likely to buy their products and services.

"Whereas bad policies, such as bad labor and environmental policies, might lead to boycotts and lawsuits. I think companies with strong leadership and a strong ethical backbone tend to recognize this."

Contact: [email protected]

[Link]Norman Bishara

Norm Bishara, professor of business law and ethics, looks at work through information transfer and the knowledge economy.

"I think more than ever, it's important to focus on the mission of education and knowledge building and to focus on creating that value and effectively sharing it," he said. "So that means, in the student context, making sure they're presented with a range of ideas to critically evaluate the options. Those are the skills that will be durable throughout their careers, and those are things that will be valued in the future of work as well."

Contact: [email protected]

[Link]Andrew Hoffman

Andy Hoffman, professor of sustainable enterprise, focuses on the roles of policy in driving sustainability and business in influencing such policy.

"We had a lot of companies out there reducing their carbon footprint," he said. "That's all well and good, but the most important impact that a company has on addressing the issue of climate change is supporting policies to force the market to move in that direction."

Contact: [email protected]

Business & Society is co-produced by JT Godfrey of the Ross School of Business and Jeff Karoub of Michigan News. The audio engineer is Jonah Brockman and editorial production is provided by Mads Henke. Listen to all episodes of the podcast.