News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship
Corporate governance in the media faces an intractable problem. There is an important public interest in the integrity of news, which is the lifeblood of an open society. Yet the shareholder value model of governance offers no guarantee that the in...
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/12/9432093/news-corporate-governance-dow-jones-reuters-teach-stewardship http://hdl.handle.net/10986/11160 |
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okr-10986-111602021-04-23T14:02:54Z News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship World Bank ACQUISITION ADVISORY GROUP AGENCY PROBLEM AGENTS OF SHAREHOLDERS BANKRUPTCY BANKS BEST DEAL BEST PRACTICES BID BIDS BOARDS OF DIRECTORS BOND BOND PRICES BROKERS BUSINESS PRACTICES BUSINESS SCHOOL BUYER CAPITAL GAIN CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CEO CEOS CHIEF EXECUTIVE CODE OF CONDUCT CODES OF CONDUCT COLLATERAL COLLECTIVE COMMODITY COMMODITY PRICES COMPANY LAW COMPETITIVE MARKET COMPETITORS COMPUTER TERMINALS CONFIDENTIALITY CONFLICTS OF INTEREST CONTRIBUTION COOPERATIVES CORP. CORPORATE CONTROL CORPORATE EXECUTIVE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE LAWYERS CORPORATE STRUCTURES CORPORATION CORPORATIONS COST OF CAPITAL CREDIBILITY DELAWARE DEMOCRACY DERIVATIVE DOMESTIC COMPANY ECONOMIC REFORM EXPANSION FAMILY MEMBER FINANCE CORPORATION FINANCES FINANCIAL ASSETS FINANCIAL COMMUNITY FINANCIAL CRISES FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL PERFORMANCE FOREIGN EXCHANGE FRANCHISE GLOBAL CORPORATE GOVERNANCE GOVERNANCE MEASURES GOVERNANCE MECHANISMS GOVERNMENT AID GOVERNMENT POLICY GUARANTORS HEDGE FUNDS HOLDING HOLDING COMPANY HOSTILE BIDDERS HOSTILE TAKEOVER HOSTILE TAKEOVERS INCOME INDIVIDUALS INFORMATION SYSTEMS INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTERNATIONAL FINANCE INTERNATIONAL SETTLEMENTS INVESTMENT INSTITUTIONS INVESTOR RELATIONS JOB LOSSES JOINT VENTURE LEVEL OF COMMITMENT LISTED COMPANIES LOW-INCOME LOW-INCOME COUNTRIES MAJORITY OF VOTES MANAGERS MARKET COMPETITION MARKET SHARE MARKETING MERGER MIDDLE EAST MISMANAGEMENT MUTUAL FUNDS OUTSIDE INVESTORS PARTY PENSION PENSION FUNDS PENSION SYSTEMS PERSONAL PROPERTY PRIVATE COMPANY PRIVATE EQUITY PUBLIC COMPANIES PUBLIC COMPANY REGULATORS REGULATORY SCRUTINY REPUTATION RETIRED RETURN RIGHTS OF SHAREHOLDERS RISK MANAGEMENT SALE SALES SENIOR SHARE PRICE SHARE PRICES SHAREHOLDER SHAREHOLDER RIGHTS SHAREHOLDER STRUCTURE SHAREHOLDER VALUE SHAREHOLDERS SOCIAL VALUE SOCIETY SPONSORS STAKEHOLDER STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKET INDEX STOCK PRICES STOCKHOLDER STOCKS STORE SUBSIDIARY SUPPLIER SUPPLIERS TAX TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRADE UNION TRADE UNIONS TRADING TRANSITION ECONOMIES TRANSPARENCY TRUST FUND TRUSTEES VALUABLE WORTH Corporate governance in the media faces an intractable problem. There is an important public interest in the integrity of news, which is the lifeblood of an open society. Yet the shareholder value model of governance offers no guarantee that the integrity of news will be protected. Indeed, conflicts of interest abound in a business where dominant CEOs often put their own private interests before those of other shareholders, reflecting the principal/agent problem, as well as before those of society. In this paper Donald Nordberg, a former senior editorial executive at Reuters who also worked as a consultant for Dow Jones, explores the respective governance of these two media giants, which received bids last year respectively from Thomson Corp of Canada and Rupert Murdoch's News Corp. The perception that Rupert Murdoch had given in to pressure from the Beijing government to drop news channels from his company's television transmissions into China raised the issue of conflicts of interest very starkly for executives and journalists on the Wall Street Journal, the crown jewel of the Dow Jones group. 2012-08-13T14:19:05Z 2012-08-13T14:19:05Z 2007-12 http://documents.worldbank.org/curated/en/2007/12/9432093/news-corporate-governance-dow-jones-reuters-teach-stewardship http://hdl.handle.net/10986/11160 English Private Sector Opinion; No. 7 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACQUISITION ADVISORY GROUP AGENCY PROBLEM AGENTS OF SHAREHOLDERS BANKRUPTCY BANKS BEST DEAL BEST PRACTICES BID BIDS BOARDS OF DIRECTORS BOND BOND PRICES BROKERS BUSINESS PRACTICES BUSINESS SCHOOL BUYER CAPITAL GAIN CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CEO CEOS CHIEF EXECUTIVE CODE OF CONDUCT CODES OF CONDUCT COLLATERAL COLLECTIVE COMMODITY COMMODITY PRICES COMPANY LAW COMPETITIVE MARKET COMPETITORS COMPUTER TERMINALS CONFIDENTIALITY CONFLICTS OF INTEREST CONTRIBUTION COOPERATIVES CORP. CORPORATE CONTROL CORPORATE EXECUTIVE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE LAWYERS CORPORATE STRUCTURES CORPORATION CORPORATIONS COST OF CAPITAL CREDIBILITY DELAWARE DEMOCRACY DERIVATIVE DOMESTIC COMPANY ECONOMIC REFORM EXPANSION FAMILY MEMBER FINANCE CORPORATION FINANCES FINANCIAL ASSETS FINANCIAL COMMUNITY FINANCIAL CRISES FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL PERFORMANCE FOREIGN EXCHANGE FRANCHISE GLOBAL CORPORATE GOVERNANCE GOVERNANCE MEASURES GOVERNANCE MECHANISMS GOVERNMENT AID GOVERNMENT POLICY GUARANTORS HEDGE FUNDS HOLDING HOLDING COMPANY HOSTILE BIDDERS HOSTILE TAKEOVER HOSTILE TAKEOVERS INCOME INDIVIDUALS INFORMATION SYSTEMS INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTERNATIONAL FINANCE INTERNATIONAL SETTLEMENTS INVESTMENT INSTITUTIONS INVESTOR RELATIONS JOB LOSSES JOINT VENTURE LEVEL OF COMMITMENT LISTED COMPANIES LOW-INCOME LOW-INCOME COUNTRIES MAJORITY OF VOTES MANAGERS MARKET COMPETITION MARKET SHARE MARKETING MERGER MIDDLE EAST MISMANAGEMENT MUTUAL FUNDS OUTSIDE INVESTORS PARTY PENSION PENSION FUNDS PENSION SYSTEMS PERSONAL PROPERTY PRIVATE COMPANY PRIVATE EQUITY PUBLIC COMPANIES PUBLIC COMPANY REGULATORS REGULATORY SCRUTINY REPUTATION RETIRED RETURN RIGHTS OF SHAREHOLDERS RISK MANAGEMENT SALE SALES SENIOR SHARE PRICE SHARE PRICES SHAREHOLDER SHAREHOLDER RIGHTS SHAREHOLDER STRUCTURE SHAREHOLDER VALUE SHAREHOLDERS SOCIAL VALUE SOCIETY SPONSORS STAKEHOLDER STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKET INDEX STOCK PRICES STOCKHOLDER STOCKS STORE SUBSIDIARY SUPPLIER SUPPLIERS TAX TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRADE UNION TRADE UNIONS TRADING TRANSITION ECONOMIES TRANSPARENCY TRUST FUND TRUSTEES VALUABLE WORTH |
| spellingShingle |
ACQUISITION ADVISORY GROUP AGENCY PROBLEM AGENTS OF SHAREHOLDERS BANKRUPTCY BANKS BEST DEAL BEST PRACTICES BID BIDS BOARDS OF DIRECTORS BOND BOND PRICES BROKERS BUSINESS PRACTICES BUSINESS SCHOOL BUYER CAPITAL GAIN CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CEO CEOS CHIEF EXECUTIVE CODE OF CONDUCT CODES OF CONDUCT COLLATERAL COLLECTIVE COMMODITY COMMODITY PRICES COMPANY LAW COMPETITIVE MARKET COMPETITORS COMPUTER TERMINALS CONFIDENTIALITY CONFLICTS OF INTEREST CONTRIBUTION COOPERATIVES CORP. CORPORATE CONTROL CORPORATE EXECUTIVE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE LAWYERS CORPORATE STRUCTURES CORPORATION CORPORATIONS COST OF CAPITAL CREDIBILITY DELAWARE DEMOCRACY DERIVATIVE DOMESTIC COMPANY ECONOMIC REFORM EXPANSION FAMILY MEMBER FINANCE CORPORATION FINANCES FINANCIAL ASSETS FINANCIAL COMMUNITY FINANCIAL CRISES FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL PERFORMANCE FOREIGN EXCHANGE FRANCHISE GLOBAL CORPORATE GOVERNANCE GOVERNANCE MEASURES GOVERNANCE MECHANISMS GOVERNMENT AID GOVERNMENT POLICY GUARANTORS HEDGE FUNDS HOLDING HOLDING COMPANY HOSTILE BIDDERS HOSTILE TAKEOVER HOSTILE TAKEOVERS INCOME INDIVIDUALS INFORMATION SYSTEMS INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTERNATIONAL FINANCE INTERNATIONAL SETTLEMENTS INVESTMENT INSTITUTIONS INVESTOR RELATIONS JOB LOSSES JOINT VENTURE LEVEL OF COMMITMENT LISTED COMPANIES LOW-INCOME LOW-INCOME COUNTRIES MAJORITY OF VOTES MANAGERS MARKET COMPETITION MARKET SHARE MARKETING MERGER MIDDLE EAST MISMANAGEMENT MUTUAL FUNDS OUTSIDE INVESTORS PARTY PENSION PENSION FUNDS PENSION SYSTEMS PERSONAL PROPERTY PRIVATE COMPANY PRIVATE EQUITY PUBLIC COMPANIES PUBLIC COMPANY REGULATORS REGULATORY SCRUTINY REPUTATION RETIRED RETURN RIGHTS OF SHAREHOLDERS RISK MANAGEMENT SALE SALES SENIOR SHARE PRICE SHARE PRICES SHAREHOLDER SHAREHOLDER RIGHTS SHAREHOLDER STRUCTURE SHAREHOLDER VALUE SHAREHOLDERS SOCIAL VALUE SOCIETY SPONSORS STAKEHOLDER STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKET INDEX STOCK PRICES STOCKHOLDER STOCKS STORE SUBSIDIARY SUPPLIER SUPPLIERS TAX TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRADE UNION TRADE UNIONS TRADING TRANSITION ECONOMIES TRANSPARENCY TRUST FUND TRUSTEES VALUABLE WORTH World Bank News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship |
| relation |
Private Sector Opinion; No. 7 |
| description |
Corporate governance in the media faces
an intractable problem. There is an important public
interest in the integrity of news, which is the lifeblood of
an open society. Yet the shareholder value model of
governance offers no guarantee that the integrity of news
will be protected. Indeed, conflicts of interest abound in a
business where dominant CEOs often put their own private
interests before those of other shareholders, reflecting the
principal/agent problem, as well as before those of society.
In this paper Donald Nordberg, a former senior editorial
executive at Reuters who also worked as a consultant for Dow
Jones, explores the respective governance of these two media
giants, which received bids last year respectively from
Thomson Corp of Canada and Rupert Murdoch's News Corp.
The perception that Rupert Murdoch had given in to pressure
from the Beijing government to drop news channels from his
company's television transmissions into China raised
the issue of conflicts of interest very starkly for
executives and journalists on the Wall Street Journal, the
crown jewel of the Dow Jones group. |
| format |
Publications & Research :: Brief |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship |
| title_short |
News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship |
| title_full |
News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship |
| title_fullStr |
News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship |
| title_full_unstemmed |
News and Corporate Governance : What Dow Jones and Reuters Teach Us About Stewardship |
| title_sort |
news and corporate governance : what dow jones and reuters teach us about stewardship |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2007/12/9432093/news-corporate-governance-dow-jones-reuters-teach-stewardship http://hdl.handle.net/10986/11160 |
| _version_ |
1764415739582742528 |