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Mishra, Supriti, and Pitabas Mohanty. "Corporate governance as a value driver for firm performance: evidence from India." Corporate Governance 14, no. 2 (2014): 265–80. http://dx.doi.org/10.1108/cg-12-2012-0089.
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Purpose – The study aims to examine corporate governance issues in India and establish the relationship between corporate governance and financial performance. Design/methodology/approach – The sample comprises 141 companies belonging to the “A” group stocks listed in the Mumbai Stock Exchange of India. Considering the institutional uniqueness in India, a composite measure of corporate governance is developed comprising three indicators – legal, board and proactive indicators. Data on the three indicators and financial performance were procured from secondary sources. In the step-wise multiple regression analysis, the influence of these three indicators and the composite measure of corporate governance was examined on firm performance after controlling the confounding effects of firm size. Findings – The board and the proactive indicators influence the firm performance significantly whereas legal compliance indicator does not do so. The composite corporate governance measure is a good predictor of firm performance. Originality/value – This study has two contributions: one, it proposes a composite measure of corporate governance considering the unique institutional characteristics of the Indian economy. Two, the study establishes the predictability of the new measure of corporate governance on firm performance as a tool to boost investors' confidence and financial health of firms.
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Apostolou, Apostolos K., and Maria-Eleni Agoraki. "Corporate governance indicators and risk-taking." Corporate Ownership and Control 8, no. 4 (2011): 9–24. http://dx.doi.org/10.22495/cocv8i4p1.
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This paper analyzes the relationship between risk-taking and corporate governance indicators, in terms of board characteristics, financial information quality and ownership structure. Unlike previous studies, we apply a broad range of corporate governance indicators and use a suitable econometric model to solve for possible endogeneity issues. The empirical framework is applied to an industry-wide sample of UK firms during the period 2002-2009. We find that board size and more executives positively affect firm risk-taking, while independence in audit committees has a negative impact. Finally, introducing firm specific characteristics does not affect the robustness of the results.
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GODFREY, STEVE. "BENCHMARKS AND INDICATORS TOR CORPORATE GOVERNANCE." African Security Review 11, no. 4 (2002): 25–29. http://dx.doi.org/10.1080/10246029.2002.9628142.
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Moulis, P. "Corporate governance vs. crisis of company." Agricultural Economics (Zemědělská ekonomika) 49, No. 6 (2012): 275–77. http://dx.doi.org/10.17221/5386-agricecon.
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There is a lot of available investigations in the area of company crisis reasons problems nowadays. These inquiries were summarised into the indicators of company crisis reasons. The development and level of these indicators is not possible to consider to be company crisis reasons but above all to be its manifestation. The veritable reason of crisis is the absence of effective control mechanisms in the company, especially of the “natural” control mechanisms. The natural control mechanism means such as rises from the substance of joint stock companies (respectively legal rules of joint stock company). There is a presumption of control activities interaction among the General Assembly, Supervisory Board and Board. Control mechanisms work on the common economic principles’ base in this sense and it means that the owner is considered to be the primary managing element and the management acts as the derivative managing element. The assumption of effective economic principles functioning is the existence of standard variable of these relations i. e. the existence of relevant interests.
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Kocmanová, Alena, and Marie Dočekalová. "Construction of the economic indicators of performance in relation to environmental, social and corporate governance (ESG) factors." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 60, no. 4 (2012): 195–206. http://dx.doi.org/10.11118/actaun201260040195.
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The article is focused on economic performance in relation to environmental, social and corporate governance indicators. Indicators are increasingly used by investors to understand the processes in company, focusing on the key factors. Many international institutions engaged in the development of environmental, social and corporate governance indicators and they are in accordance with financial institutions trying to find a common language in defining the environmental, social and corporate governance indicators affecting their common objectives to achieve sustainable, long-term growth and prosperity. The aim of the article is searching for the way of measuring economic performance of the company in relation to environmental, social and corporate governance indicators. On the basis of analysis of the environmental, social and corporate governance performance indicators of international organizations has been carried out empirical research of economic indicators for the companies in the manufacturing sector. The expected result of the research is the design of the economic indicators of performance in relation to environmental, social and corporate governance indicators. These proposed economic performance indicators should enable companies to measure the economic performance and added value towards sustainability.
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Pavláková Docekalová, Marie, Alena Kocmanová, and Jirí Kolenák. "Development of Corporate Governance Performance Indicators for Czech Manufacturing Companies." DANUBE: Law and Economics Review 6, no. 1 (2015): 57–72. http://dx.doi.org/10.1515/danb-2015-0004.
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Abstract Effective corporate governance is a key element in achieving long-term success for any company. The codes of conduct that corporate governance adopts directly determine the sustainability of business activities. With this in mind, this paper aims to demonstrate the results of research that identifies a set of key indicators of corporate governance performance. The presented research is quantitative. In order to identify key performance indicators, factor analysis was employed. It was found that corporate governance performance is influenced by two factors. For the first factor, the relationship between corporate governance and stakeholders is measured by key indicators: percentage of women within CG, contributions to political parties, politicians and related institutions and number of complaints received from stakeholders. The second factor, strategy & compliance, is generated from the following: percentage of strategic objectives met and total number of sanctions for breaching the law. This research aims to assist both academic and corporate practitioners who want to improve corporate governance performance and, through the use of key performance indicators, support the transparency and sustainability of their business.
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Kryukov, Dmitry, and Raimonds Strauss. "Information security governance as key performance indicator for financial institutions." Scientific Journal of Riga Technical University. Computer Sciences 38, no. 38 (2009): 161–67. http://dx.doi.org/10.2478/v10143-009-0014-x.
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Information security governance as key performance indicator for financial institutions Due to their nature financial institutions and their performance are in constant focus of attention from different stakeholder groups. These groups according to their functions and interests are implementing different sets of key performance indicators for financial institution performance assessment. In the proposed paper authors present a hypothesis of information security governance being a financial institution key performance indicator. Authors provide high level overview of existing situation in key performance indicator domain for financial institutions. The overview of stakeholder groups interested in financial institution performance management is provided. In the same way as corporate governance is treated as financial and operational performance reflecting and influencing factor, information security governance as a component of corporate governance, according to authors' opinion, should be treated as key performance indicator for financial institutions. In the paper the most indicative financial performance indicators as well as their calculation methods are defined for financial institutions. The paper contains overview of information security assessment models and researches in this field. Authors have chosen information security maturity model to use in testing hypothesis. The paper contains description of calculation methodology for financial performance indicators and information security maturity indicators. The hypothesis has been proved performing analysis of correlation between calculated financial performance indicators and information security governance model indicators for chosen Latvian financial institutions.
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Purbawangsa, Ida Bagus Anom, Solimun Solimun, Adji Achmad Reinaldo Fernandes, and Sri Mangesti Rahayu. "Corporate governance, corporate profitability toward corporate social responsibility disclosure and corporate value (comparative study in Indonesia, China and India stock exchange in 2013-2016)." Social Responsibility Journal 16, no. 7 (2019): 983–99. http://dx.doi.org/10.1108/srj-08-2017-0160.
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Purpose The purpose of this study is to examine the relationship of corporate governance and corporate profitability on corporate value with corporate social responsibility (CSR) disclosure as the intervening variable. Design/methodology/approach The population of this study was all companies listed in Indonesia, China and India Stock Exchange in 2013-2016. The inferential statistics used in this study applied the partial least square-based (PLS-based) structural equation model (SEM) method with PLS. The PLS method was selected based on the consideration that there was a construct formed with reflective indicators in this study. Findings In Indonesia, corporate governance and corporate profitability have a significant and positive effect on CSR disclosure. Similarly, CSR disclosure and corporate profitability have a significant and positive impact on corporate value. Corporate governance indirectly influences corporate value, through mediation CSR disclosure. In China, corporate governance and corporate profitability have a significant and positive effect on CSR disclosure. Similarly, CSR disclosure and corporate governance have a significant and positive impact on corporate value. Corporate profitability indirectly affects corporate value, through mediation CSR disclosure. In India, corporate governance and corporate profitability have a significant and positive effect on CSR disclosure. The same thing is seen that CSR disclosure has a significant and positive effect on corporate value. Corporate governance and corporate profitability influence indirectly corporate value, through mediation CSR disclosure. Originality/value The study is one of the few studies to investigate and compare the relationship between corporate governance, corporate profitability, CSR and corporate value. The originality of this study is on the reason that many studies that have been conducted still indicated the inconsistency in the results and diversity of the indicators, so that a similar study was conducted by involving the indicators used for measuring the corporate governance variable, which were the proportion of independent commissioners and audit committee. Meanwhile, for the corporate profitability variable, ROA and ROE were used as the indicators. The originality of this study is that it is a comparative study in three countries in Asia, namely, China, India and Indonesia. The three countries have the highest population and highest economic growth in the past five years.
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Kocmanová, Alena, and Iveta Šimberová. "DETERMINATION OF ENVIRONMENTAL, SOCIAL AND CORPORATE GOVERNANCE INDICATORS: FRAMEWORK IN THE MEASUREMENT OF SUSTAINABLE PERFORMANCE." Journal of Business Economics and Management 15, no. 5 (2014): 1017–33. http://dx.doi.org/10.3846/16111699.2013.791637.
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The article is concerned with determination of environmental, social and corporate governance (ESG) indicators of performance. The objective of carried-out empirical research is to determine ESG indicators as a key framework of the measurement of sustainable performance of a company in its Sustainable Reporting. On the basis of conducted empirical research, applying factor analysis, the environmental, social and corporate governance indicators for companies active in the processing industries CZ-NACE have been specified. The indicators were selected in a series of successive phases by a multi-factor analysis. The results of factor analysis indicated that the factors fall into three measurement categories: environmental (Investments, Emissions, Source Consumption, Waste), social (Society, Human Rights, Labour Practices and Decent Work, Product Responsibility), and corporate governance (Monitoring and Reporting, Corporate Governance Effectiveness, Corporate Governance Structure, Compliance). This article contributes to the effort to solve measurement of performance of the corporate sustainability and proposal to conceptual framework of ESG indicators of performance for the Sustainability Reporting of Czech companies operating in the processing industry.
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Festić, Mejra, Polona Črepinko, and Borut Bratina. "The Importance of Corporate Governance of Banks Concerning the Ownership in the International Environment." Naše gospodarstvo/Our economy 66, no. 4 (2020): 11–27. http://dx.doi.org/10.2478/ngoe-2020-0020.
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Abstract The analysis of the factors of corporate governance is divided into four thematic sections. In the first part corporate governance is defined as part of the broader economic context. The second part deals with the principles of corporate governance. In the third part, the relation between the index of corporate governance and individual indicators (an indicator of commitment, transparency, and disclosure, caring for partners, and control and audit) regarding ownership is defined. An analysis was undertaken for the countries of Central and Eastern Europe. A higher level of foreign ownership had a positive correlation with the corporate governance index. On the other hand, the correlation between state ownership and corporate governance index was not clear. The prevention of poor banking practices does not only lie in controlling functions, but also in the general corporate and risk-taking cultures, and the social perception of managerial roles, regardless of ownership structure.
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Putra, Defriko Gusma, Yodi Pratama, Indra Mulia Pratama, and Nisha Selvia. "Mediating Role of Corporate Governance on the Effect of Earnings Management and Financial Risk on Firm Value." JRAK: Jurnal Riset Akuntansi dan Komputerisasi Akuntansi 13, no. 2 (2022): 1–19. http://dx.doi.org/10.33558/jrak.v13i2.4478.
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This study is to determine the effect of earnings management with discretionary accruals indicators and financial risk with debt to equity ratio (DER) indicators on firm value with price earning ratio (PER) indicators with corporate governance as a mediating variable with managerial ownership and institutional ownership indicators. The research method is quantitative with the object of research being the Property and Real Estate sub-sector companies listed on the Indonesia Stock Exchange (IDX) during 2015-2017 with all out observations of 87 information. The test results show that earnings management variables have a negative and significant effect on firm value. The financial risk variable has a negative and significant effect on firm value. The corporate governance variable has a positive and significant effect on firm value. The effect of earnings management on firm value has a negative effect on corporate governance as a mediating variable. This shows that corporate governance can reduce earnings management actions. The effect of financial risk on firm value has a negative effect by the company's administration as a mediating variable. This shows that corporate governance can reduce financial risk. The results of this study provide a theoretical contribution that supports agency theory and corporate governance, which in turn makes a practical contribution to the implementation of good corporate governance in companies.
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Kodriyah, Nana Umdiana, Denny Putri Hapsari, and Santi Octaviani. "Does Earnings Quality Mediate The Effect Of Corporate Governance On Firm Value." International Journal of Science, Technology & Management 2, no. 6 (2021): 2026–40. http://dx.doi.org/10.46729/ijstm.v2i6.376.
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This study aims to examine the influence of corporate governance factors on firm value and earnings quality as mediating variables. Research Methodology Using Purposive Sampling techniques, so as to obtain a data of 102. The analysis technique used was to use multiple regression and path analysis. Indicator of corporate governance has effect on firm value are managerial ownership and audit committee. Indicator of corporate governance has effect on earnings quality are Institutional ownership and audit committee. The earnings quality has no significant effect on the value of the company and has not been able to mediate the influence of managerial ownership, institutional ownership and committee on the value of the company. The corporate governance indicator is used 3 while there are other indicators such as the proportion of the independent commissioners board and the proportion of the board of directors. Investors do not only look at the financial aspects but can also see other information such as the implementation of corporate governance mechanisms as one of the considerations for investment decisions
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Dragomir, Voicu D. "Comparative Evidence on Corporate Governance Outcomes in the G20 Countries." World 3, no. 4 (2022): 993–1008. http://dx.doi.org/10.3390/world3040056.
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The purpose of this study is to investigate the differences between developed countries in terms of corporate governance outcomes at aggregate and granular levels. The population of companies was collected from the database curated by Refinitiv. The sample was selected according to two criteria: the existence of governance scores for the financial year 2021 and the registration of a company in any of the G20 countries or the European Union. The results are presented by ranking the G20 countries based on four aggregate indicators and four granular indicators of corporate governance quality. While the differences regarding the aggregate indicators are not statistically strong, the intercountry differences on board independence, board gender diversity, board skills, and auditor tenure are especially relevant. The present article opens an avenue of research on international corporate governance linked to cultural dimensions, comparative legal systems, national approach to corporate social responsibility, and corporate governance principles.
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Mamikonyan, K. "DIVIDEND POLICY IN THE CORPORATE GOVERNANCE SYSTEM OF COMPANIES." Criminalistics and Forensics, no. 65 (May 18, 2020): 557–67. http://dx.doi.org/10.33994/kndise.2020.65.55.
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Over the past decade, dividend policy has become a fundamental element of the financial strategy of joint-stock companies, as it has a direct impact primarily on the corporate governance of the company. It can be considered that dividend payments are most often connected not with financial indicators, but with a significant improvement of the quality of corporate governance in the company, i.e. dividend payments are more likely an element of corporate governance. In essence, the high quality of corporate governance somewhat reduces the likelihood of making the wrong decision. To the qualitative indicators, showing the status of the company the quality corporate governance can be added for the assessment of the bankruptcy of economic entities. If the quality of corporate governance is considered as a new one, added to the composition of qualitative indicators, then in general a number of signs indicating the pre-bankrupt state of the economic entity and not reflected in the financial statements can be offered. Timely disclosure of information is accepted as the most important factor in improving corporate governance, which allows investors to reliably assess investment risks and compare practice with these results. Certain features are directly related to the structural elements of the company’s dividend policy, since contributing to the realization of the rights and interests of shareholders, the dividend policy occupies a major place in the corporate governance system of companies.
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Diana, Patricia. "Implementasi Tata Kelola Perusahaan Terhadap Nilai Perusahaan: Studi Empiris pada Perusahaan di Indonesia." Jurnal ULTIMA Accounting 7, no. 2 (2016): 1–17. http://dx.doi.org/10.31937/akuntansi.v7i2.177.
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Indonesia as one of developing countries should prepare for intense business competition in international market by continuously improving their financial performance which reflected by profitability enhancement. In order to achieved this goals, companies should build synergic relationship between stakeholders. Implementation of corporate governance is believed can assist companies in improving firm value by minimizing cost and maximize companies’ profit. This study aims to investigate the effect of corporate governance implementation on Indonesian companies. Corporate Governance Perception Index (CGPI) which establish by Indonesian Institute of Corporate Governance (IICG) used as proxy for corporate governance implementation, and ROA used as proxy for firm value. All the data obtain from Indonesia Stock Exchange (IDX) database and period 2008 to 2012 used as observation period. The result show that implementation of corporate governance has significant effect with firm value proxy by ROA. This study also concludes that market will be more concern on CGPI which generated through documentation and presentation indicators and also observation indicators rather than self-assessment indicators. This indicates that market would trust the information which comes from independen external parties. The result will be useful for investor in making their investment decision which based on profitability consideration.
 Keywords: Corporate Governance, CGPI, ROA, profitability
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Mardnly, Zukaa, Sulaiman Mouselli, and Riad Abdulraouf. "Corporate governance and firm performance: an empirical evidence from Syria." International Journal of Islamic and Middle Eastern Finance and Management 11, no. 4 (2018): 591–607. http://dx.doi.org/10.1108/imefm-05-2017-0107.
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Purpose This study aims to examine the impact of aggregate and individual corporate governance provisions on firm performance on all firms listed at Damascus Securities Exchange (DSE) for the period between 2011 and 2015. In addition, it disentangles ownership structure provision to ownership concentration and foreign ownership and investigates which component of ownership structure stands behind the significance of ownership structure in explaining firm performance. Design/methodology/approach The study uses multiple linear regression models to analyze the relationship between aggregate corporate governance index and its provisions and firm performance. A corporate governance index is built on the basis of four mechanics (i.e. board of directors, audit, disclosure and ownership structure) for all firms listed at DSE. On the other hand, the dependent variable (firm performance) is measured using Earnings Per Share (EPS) and Return On Assets (ROA). The authors capture current war conditions using political stability and absence of violence indicator, one of Worldwide Governance Indicators accumulated by the World bank. Findings This study finds that ownership structure is the only significant corporate governance provision in determining Syrian firms’ performance, as it loads positively and significantly on firm performance proxies (ROA and EPS). Moreover, the analysis of ownership structure items shows that foreign ownership is the main source of this positive and significant impact. This result is robust for both measures of firm performance and in the presence of political stability indicator. Originality/value This paper provides evidence on corporate governance measures from Syrian Arab Republic, a developing country with an emerging stock exchange. It examines board structure, ownership structure, audit committee and disclosure in a period of crisis because of the war in this country. Moreover, it uncovers that foreign ownership is the only influential provision affecting firm performance at DSE. Furthermore, it combines firm-level governance indicators with country governance indicator of political stability and absence of violence.
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Li, Chuan Jun. "The Design of Index about Corporate Governance Based on PCA Method." Advanced Materials Research 926-930 (May 2014): 4085–88. http://dx.doi.org/10.4028/www.scientific.net/amr.926-930.4085.
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This article uses the PCA method (Principal component analysis) to evaluate the level of corporate governance. PCA is used to analyze the correlation among 10 original indicators, and extract some principal components so that most of the information of the original indicators is extracted. The formulation of the index of corporate governance can be got by calculating the weight based on the variance contribution rate of the principal component, which can comprehensively evaluate corporate governance.
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Chvátalová, Zuzana, and Iveta Šimberová. "Analysis of ESG indicators for measuring enterprise performance." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 61, no. 7 (2013): 2197–204. http://dx.doi.org/10.11118/actaun201361072197.
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In this article authors focus on the analysis of the whole set of environmental, social and corporate governance (ESG) indicators for the elimination of double or triple effects within the next construction of methods for measuring corporate performance. They build on their previously published results (in Acta univ. agric. et silvic. Mendel. Brun., 2012). The partial actual selected results of a recently undertaken currently project entitled ‘Construction of Methods for Multifactorial Assessment of Company Complex Performance in Selected Sectors’ were used. This project was solved the research teams of the Faculty of Business and Management of Brno University Technology and Faculty of Business and Economics of Mendel University in Brno since 2011. Further theoretical resources in the environmental, social and corporate governance area, known indicator databases (namely Global Reporting Initiative), comparative analysis, resp. syntheses for identifying possible of common indicator properties were identified to classify indicator subsets to preclude double or even triple effect based on mathematical set theory (Venn diagrams). The indicator analysis in constructed multi-factorial methods contributes to precise decision making in management to improve corporate performance.
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Khoerunisa, Sri Rubitania, and Ade Imam Muslim. "Struktur Corporate Governance dan Financial Indicators terhadap Nilai Perusahaan (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019)." Jurnal Akuntansi 15, no. 2 (2021): 109–35. http://dx.doi.org/10.25170/jak.v15i2.2218.
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Penelitian ini bertujuan untuk mengetahui gambaran dari struktur corporate governance, financial indicators dan nilai perusahaan pada perusahaan manufaktur, dan untuk mengetahui pengaruh struktur corporate governance dan financial indicators terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia Periode 2015-2019 baik secara simultan maupun parsial.Penelitian ini merupakan jenis peelitian kuantitatif dengan metode penelitian yang digunakan adalah metode deskritif dan verifikatif. Populasi dalam penelitian ini adalah perusahaan manufaktur yag terdaftar di BEI dengan jumlah sampel penelitian sebanyak 42 perusahaan yang ditentukan dengan metode purposive sampling. Analisis data menggunakan analisis regresi data panel, uji asumsi klasik, dan pengujian hipotesis dengan menggunakan analisis koefisien determinasi, uji F, dan uji-t.Berdasarkan hasil regresi data panel dengan tingkat signifikansi 5% didapat kesimpulan bahwa struktur corporate governance dan financial indicators berpengaruh signifikan terhadap nilai perusahaan secara simultan. Sedangkan secara parsial struktur corporate governance tidak berpengaruh terhadap nilai perusahaan, sedangkan financial indicators berpengaruh positif dan signifikan terhadap nilai perusahaan.
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Šimberová, Iveta, and Alena Kocmanová. "Corporate governance – research of key indicators on market of processing industry in the Czech Republic via cluster analysis." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 60, no. 7 (2012): 359–68. http://dx.doi.org/10.11118/actaun201260070359.
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The discussion on corporate governance has oriented on practical problems, including corporate fraud, the abuse of managerial power and social irresponsibility. Contemporary cognition implicates the fact that the questions regarding to corporate governance are very actual especially in relation to company competitiveness, company performance and sustainability of success (long term viability). Paper is focused to the current questions regarding to the definition of corporate governance, looking for the appropriate conceptual framework and identification of key corporate governance indicators in selected industrial market in the Czech Republic via cluster analysis. The scientific aim is looking for the appropriate key indicators in processing industry as a base for the corporate governance performance measurement. The presentations of the results in the paper are just part of selected results in the framework of the elaborated research project titled “Construction of Methods for Multifactor Assessment of Company Complex Performance in Selected Sectors”.
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Sheveleva, G. I. "Corporate Governance in Russian electric power industry in terms of consumer requirements to its funding sources." E3S Web of Conferences 58 (2018): 02004. http://dx.doi.org/10.1051/e3sconf/20185802004.
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The paper highlights a strong interest of energy consumers in attracting investment in the development of Russian power generation companies. The importance of corporate governance for enhancing the investment attractiveness of these companies is emphasized. An in-depth evaluation of their current corporate practices was carried out within the framework of the existing ownership structure. The study identified the indicators of corporate governance quality for the benefit of modern investors that are the least observed by the overwhelming majority of power companies. The indicators were obtained on the basis of whether or not the companies satisfy the criteria of the new Russian Corporate Governance Code, and the criteria of the methodologies of Standard & Poor’s, Spencer Stuart and Transparency International. The study shows a slight increase in the transparency of the companies in the post-reform period and compares it with the information disclosure by the major corporations of Great Britain, the USA and Europe. The study shows high correlation of the approach and composition of the identified indicators of the corporate governance quality for Russian power generation companies with the 2017 Russian Corporate Governance Index. This Index is based on the international Good Governance Index methodology adapted to the Russian conditions.
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Dočekalová, Marie. "Determination of Indicators of Corporate Governance Performance Measurement in the Czech Republic." Acta Universitatis Bohemiae Meridionalis 16, no. 1 (2013): 15–23. http://dx.doi.org/10.32725/acta.2013.002.
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Yusra, Irdha, and Novyandri Taufik Bahtera. "Prediction modelling the financial distress using corporate governance indicators in Indonesia." Jurnal Kajian Manajemen Bisnis 10, no. 1 (2021): 18. http://dx.doi.org/10.24036/jkmb.11228400.
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We examine whether the indicators of company governance procedures are associated with the risk of bankruptcy or financial distress in Indonesia. An empirical study we conducted using a causal model of corporate governance indicators in forecasting financial distress. The data used in this study is panel data. Using samples from assembling companies registered on the Indonesia Stock Exchange during the 2017-2019 period, we obtained as many as 105 observations selected by the purposive sampling method. Our results indicate that financial distress can be predicted by corporate governance mechanisms, although statistically it is only proven by a few indicators in our study. Specifically, our results demonstrate that institutional ownership, managerial ownership, and independent commissioners do not affect financial distress. Furthermore, our study shows evidence of a significant influence between the size of the board of directors and audit committee on financial distress. Our interpretation is that research on financial distress prediction models using corporate governance indicators has provided empirical evidence.
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Migang, Satriawaty, and Winda Rivia Dina. "PENGARUH CORPORATE GOVERNANCE DAN PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP AGRESIVITAS PAJAK." Jurnal GeoEkonomi 13, no. 1 (2022): 103–15. http://dx.doi.org/10.36277/geoekonomi.v13i1.196.
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This study aims to examine the effect of corporate governance and disclosure of corporate social responsibility on the tax aggressiveness of mining companies listed on the Indonesia Stock Exchange in 2015-2019. This study uses 8 sample companies from 38 populations. Tax aggressiveness is proxied using ETR, corporate governance is proxied using independent commissioners, audit committees, and institutional ownership. Corporate social responsibility is measured using CSR disclosure indicators based on the Global Reporting Initiative (GRI) guidelines. The results of this study indicate that corporate governance that is proxied by using independent commissioners and institutional ownership also corporate social responsibility has an effect on tax aggressiveness, while corporate governance that is proxied using audit committees does not affect tax aggressiveness.
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Salvioni, Daniela M., and Francesca Gennari. "Corporate governance, ownership and sustainability." Corporate Ownership and Control 13, no. 2 (2016): 606–12. http://dx.doi.org/10.22495/cocv13i2c3p9.
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The main finding of this article is that sustainability and the broader concept of social responsibility imply a change in the spirit of governance, which promotes the so-called ’de facto convergence’ between the different corporate governance systems existing all over the world. Substantial corporate governance convergence suggests that different countries may have different companies’ ownership structure, rules and institutions but the corporate boards may still be able to perform common goals, with attention to similar key performance indicators, such as ensuring fair disclosure or accountability. Companies that perform better with regard to the triple bottom line can increase shareholder value contributing, at the same time, to the sustainable development of the societies in which they operate.
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Masegare, Peter, and Mpho Ngoepe. "A framework for incorporating implementation indicators of corporate governance for municipalities in South Africa." Corporate Governance: The International Journal of Business in Society 18, no. 4 (2018): 581–93. http://dx.doi.org/10.1108/cg-11-2016-0216.
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Purpose This paper aims to develop a framework for incorporating implementation indicators of corporate governance for municipalities in South Africa. In South Africa, there is a corporate governance framework (King III report) that is regarded as a seminal work applicable to both the public and private sectors. Despite its existence, municipalities still struggle to provide services to the citizens due to poor implementation. The poor corporate governance implementation in municipalities led to several issues such as loss of credibility for local government, little interests from investors to invest in municipalities, service delivery protests from communities, maladministration and unexpected change of leadership in municipalities without succession planning in South Africa. Design/methodology/approach The study conducted literature review to demonstrate the need for a framework to implement corporate governance in South Africa. Findings It is evident from the study that the municipal sector could improve its performance and practices of corporate governance, if the underpinning framework is adopted and implemented as a sector framework. The integration of governance elements during the development of the municipal sector integrated development plan (IDP) will facilitate a coherent base for good governance implementation practices. Research limitations/implications This research would go a long way in bringing out the anomalies that paralyse municipalities, the root causes of inefficiency and possible ways to rectify them. Practical implications This study offers a framework that can help the local government sector to improve on service delivery. Implementation of the framework can also assist municipalities in obtaining clean audits from the supreme audit institutions in their respective countries. Social implications The study has a huge social impact as it would help municipal officials take notice of the issues raised and act accordingly thus improving the life of citizenry. Originality/value This study adds value to the existing theoretical and conceptual issues that form the ongoing discourse on the implementation of corporate governance in local government, especially in South Africa, as the country is characteristic by corruption and maladministration.
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Migang, Satriawaty, and Winda Rivia Dina. "PENGARUH CORPORATE GOVERNANCE DAN PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP AGRESIVITAS PAJAK (Studi Kasus Pada Perusahaan Pertambangan yang Terdaftar di BEI Periode 2015-2018)." Jurnal GeoEkonomi 11, no. 1 (2020): 42–55. http://dx.doi.org/10.36277/geoekonomi.v11i1.107.
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ABSTRACT
 
 This study aims to examine the effect of corporate governance and disclosure of corporate social responsibility on the tax aggressiveness of mining companies listed on the Indonesia Stock Exchange in 2015-2018. This study uses 8 sample companies from 38 populations. Tax aggressiveness is proxied using ETR, corporate governance is proxied using independent commissioners, audit committees, and institutional ownership. Corporate social responsibility is measured using CSR disclosure indicators based on the Global Reporting Initiative (GRI) guidelines. The results of this study indicate that corporate governance that is proxied by using independent commissioners and institutional ownership also corporate social responsibility has an effect on tax aggressiveness, while corporate governance that is proxied using audit committees does not affect tax aggressiveness.
 
 Keywords: tax aggressiveness, corporate governance, corporate social responsibility. 
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Natalia, Maria, Verani Carolina, and Joni Joni. "Relationship Between Corporate Social Responsibility Disclosure, Corporate Governance, And Tax Avoidance." KINERJA 25, no. 1 (2021): 79–90. http://dx.doi.org/10.24002/kinerja.v25i1.4198.
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This study aims to examine the effect of corporatesocial responsibility disclosure on tax avoidance with corporate governance as moderation variable. The disclosure of corporate social responsibility in this study is measured using performance indicators from Global Reporting Initiative (GRI) 4.1. The score of corporate governance is measured using ASEAN CG Scorecard, while tax avoidance is measured by Cash ETR. The sample in this study is a manufacturing company listed on the Indonesia Stock Exchange in 2018. This study refers to Lanis and Richardson (2012) which found that, the higher the disclosure of social responsibility, the lower the tax avoidance. This study also refers to Salhi et al. (2019) which found that, if corporate governance has been performed well, companies are less likely to do tax avoidance. The results of the study showed that corporate social responsibility and corporate governance had no effect on tax avoidance. Likewise, corporate governance cannot moderate the effect of corporate social responsibility on tax avoidanceKeywords: corporate social responsibility disclosure, corporate governance, tax avoidance, GRI, Asean CG Scorecard, Cash ETR
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Kamaliah, Kamaliah. "Disclosure of corporate social responsibility (CSR) and its implications on company value as a result of the impact of corporate governance and profitability." International Journal of Law and Management 62, no. 4 (2020): 339–54. http://dx.doi.org/10.1108/ijlma-08-2017-0197.
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Purpose The purpose of this study is to examine the effect of corporate governance and corporate profitability on firm value with corporate social responsibility (CSR) disclosure as the intervening variable. Design/methodology/approach The population of this study was all companies listed in the LQ 45 Index group in the Indonesia Stock Exchange in 2013-2014. The inferential statistics used in this study applied the partial least square (PLS) based structural equation model (SEM) method with the assistance of SmartPLS 2.0. The PLS method was selected based on the consideration that there was a construct formed with reflective indicators in this study. Findings From the results of this study, it can be concluded that corporate governance does not have any effect on CSR disclosure, profitability of company has an effect on CSR disclosure, CSR disclosure has an effect on firm value. In addition, CSR disclosure does not mediate the effect of on firm value. These results showed that corporate governance can have an effect on firm value directly, and there is no role of CSR disclosure in mediating the effect of corporate governance on firm value, and profitability of company has an effect on firm value through CSR disclosure. Originality/value The originality of this research is on the reason that many studies that have been conducted still indicated the inconsistency in the results and diversity of the indicators, so that a similar research was conducted by involving the indicators used for measuring the corporate governance variable, which were the proportion of independent commissioners and audit committee. Meanwhile, for the profitability variable, return on assets and return on equity were used as the indicators.
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Adawi, Mohamed, and Kami Rwegasira. "Corporate governance and firm valuation in emerging markets: evidence from UAE listed companies in the Middle East." Corporate Ownership and Control 11, no. 1 (2013): 637–56. http://dx.doi.org/10.22495/cocv11i1c7art3.
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There has been previous empirical research on corporate governance and board of directors which focused on attempting to find a direct relationship between internal governance variables and firm valuation. It has however also been argued that there are differences in the nature, direction, magnitude and processes of operation of this relationship between developed and developing financial markets because of differences in their respective economic, social, regulatory framework and market behaviour . This study examines this relationship in the context of the United Arab Emirates (UAE) as one of the emerging markets in order to extend evidence further beyond the western developed capital markets into the Middle East. Does the prevalence of family-ownership in the UAE for example matter to the company valuation? What about the presence of institutional ownership or ownership concentration? And do the corporate communication and disclosure scores published by the UAE Institutional Investor in cooperation with Hawkamah, The Institute for Corporate Governance; have any relationship to corporate valuation? More specifically this study, using multiple regression analysis, examines the impact of firm level internal corporate governance indicators namely board structure, ownership structure, and transparency and disclosure governance practices on the valuation of listed companies in the UAE after controlling for company size, industry, leverage, and dividend payout using Tobin’s Q, Price - Earning Ratio (PER) and Price - Book Value Ratio (PBVR) as surrogates for company valuation. The results show no significant relationship between internal corporate governance indicators and company valuation when using Tobin’s Q and PBR as measures of company valuation. However they reveal statistically significant links between some of the internal corporate governance indicators on the one hand and company market valuation on the other when company valuation is measured by the price earnings ratio (PER) which is one of the most common and important stock market indicators for investors. These results suggest that the company valuation measures like the price earnings ratio which explicitly reflects the financial markets assessment of the firm investment and dividend policies lead to a better correlation with internal corporate governance indicators. Moreover, the regression results indicate that the frequency of board meetings, adoption of best transparency practices and the presence of private institutional investors such as sovereign wealth funds are the most significant internal corporate governance variables in accounting for differences in company market values in the UAE. The structural aspects of the board such as size and composition turned out not to be statistically significant in their impact on company valuation.
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Rix, Mark. "The new Australian system of corporate governance: Board governance and company performance in a changing corporate governance environment." Corporate Law and Governance Review 1, no. 2 (2019): 29–41. http://dx.doi.org/10.22495/clgrv1i2p3.
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This paper investigates the changing duties and responsibilities of boards and directors of Australian public companies. The corporate governance environment in Australia is currently going through a period of significant transformation raising the question of whether in this fluid and shifting environment company and board performance can still be assessed largely on the basis of profit, share price and dividends generated over the short term. These almost certainly will continue for some time to be the key metrics of company and board performance and it is hard to see how it could be otherwise. Nevertheless, a growing chorus of influential stakeholders is calling for the introduction of a more balanced and comprehensive suite of performance indicators that better reflect the realities of corporate governance early in the Twenty-first Century. The paper examines how these stakeholders are reshaping corporate governance in Australia and also calling for a reconsideration of the way in which performance is assessed.
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Koehn, Daryl, and Joe Ueng. "Corporate governance metrics for Asian companies: are they reliable indicators of corporate performance?" International Journal of Business Governance and Ethics 5, no. 4 (2010): 241. http://dx.doi.org/10.1504/ijbge.2010.035599.
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Pašić, Polona, Borut Bratina, and Mejra Festić. "Corporate Governance of Banks in Poland and Slovenia." Naše gospodarstvo/Our economy 62, no. 3 (2016): 3–12. http://dx.doi.org/10.1515/ngoe-2016-0013.
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Abstract This paper focuses on the analysis of the characteristics of corporate governance in banks in Poland and Slovenia between 2005 and 2013. It studies the impact of corporate governance in these banks on their performance. The results of our research show that Slovenia achieved lower average scores for the variables and indicators related to the transparency of corporate governance than Poland. The density of banks with the highest corporate governance index scores was higher in Poland than in Slovenia. When examining the impact of corporate governance on bank performance as measured with net interest income, the regression analysis showed that its impact is positive in both countries and that it is statistically significant in Slovenia.
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Andreu-Pinillos, Alberto, José-Luis Fernández-Fernández, and Joaquín Fernández-Mateo. "Corporate governance in sustainability indexes: a Spanish case study." Revista de Comunicación 19, no. 2 (2020): 7–28. http://dx.doi.org/10.26441/rc19.2-2020-a1.
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In recent years, corporate governance and corporate social responsibility have come closer in academic research, and especially on sustainability indexes. In fact, the most significant indexes handle the matter of corporate governance along with other environmental and social criteria. The purpose of this study is to find out if all the variables included in the corporate governance dimension on the above mentioned indicators are equally relevant and material for both corporate social responsability and corporate governance. To carry out the study, a sample of academics and professionals from Spanish universities and businesses sector was taken. We defend the plausible hypothesis that not all items included within corporate governance dimension on sustainability indexes are homogeneous and interchangeable and, therefore, equally relevant. As a result, the measurements provided by these indexes may not be truly representative.
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Ghofur, Abdul, and Puji Sucia Sukmaningrum. "PEGARUH GOOD CORPORATE GOVERNANCE TERHADAP EFISIENSI BANK SYARIAH TAHUN 2012-2016 DENGAN KINERJA SOSIAL SEBAGAI VARIABEL INTERVENING." Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) 4, no. 1 (2018): 30. http://dx.doi.org/10.20473/jebis.v4i1.10047.
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This study aims to determine the effect of Good Corporate Governance and social performance on efficiency in Bank Syariah Period 2012-2016. The sample in this study used a purposive sampling method of Islamic Commercial Banks (BUS) in Indonesia, from 13 BUS took 6 BUS that met the sample criteria to be tested. Furthermore, this research uses path analysis, while the research approach used is quantitative approach using analysis technique PLS (Partial Least Square). In this research, there are three latent variables namely Good Corporate Governance as an exogenous or independent variable, social performance as endogen intervention variable, and efficiency as an endogen variable. The indicators used to reflect the Good Corporate Governance Variables are the Board of Commissioners (DK), the Composition of Independent Commissioners (KDKI), the Sharia Supervisory Board (DPS), the Frequency of Sharia Supervisory Board Meetings (FRDPS), and the Frequency of Audit Committee Meetings (FRKA). The indicators used to reflect social performance are financing Mudharabah-Musyarakah, Zakat, and Qard.. Furthermore, the efficiency indicator is reflected by the ratio of BOPO (Operational Cost to Operating Income).The results of this study indicate that GCG has a significant positive effect on efficiency, GCG has a significant positive effect on social performance, social performance has a significant negative effect on efficiency, GCG has a significant negative effect on efficiency through social performance. Keywords: Good Corporate Governance, Social Performance, Efficiency, Islamic Banks
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Tzavara, Dionisia, Christos Grose, Sandra Pereira Rebelo Greven, and Maria Argyropoulou. "Evaluating the Quality of Corporate Governance of Swiss Banks." Studies in Business and Economics 16, no. 3 (2021): 278–94. http://dx.doi.org/10.2478/sbe-2021-0060.
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Abstract The aim of this research is to investigate the corporate governance frameworks of listed Swiss bank, to evaluate their performance across several indicators and identify strengths and weaknesses of their internal guidelines and code of best practice. More specifically, we use the OECD Principles of Corporate Governance, the Basel Committee Guidance on Corporate Governance for Banks and the Swiss Code of Best Practices for Corporate Governance to develop a framework to evaluate the corporate governance of Swiss banks relative to factors such as board structure, board composition, transparency, compensation and risk management To meet the aim of the research, we collect qualitative data from publicly available yearly reports, corporate governance documents and codes of conduct from a sample of listed Swiss banks. We find that, overall, Swiss banks have a sound corporate governance framework. However, board gender diversity is low. Also, there are differences between smaller and bigger banks in board composition. Our findings contribute to the understanding of the corporate governance structure of listed Swiss banks and they can be a useful tool for the banks, which can use our findings to implement enhancements to their corporate governance frameworks.
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Bradley, Nick. "Corporate Governance Scoring and the Link Between Corporate Governance and Performance Indicators: in search of the Holy Grail." Corporate Governance 12, no. 1 (2004): 8–10. http://dx.doi.org/10.1111/j.1467-8683.2004.00338.x.
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Law, Philip, and Desmond Yuen. "Financial analysis and corporate governance of AA: A case study." Corporate Ownership and Control 16, no. 2 (2019): 19–24. http://dx.doi.org/10.22495/cocv16i2art2.
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This paper evaluates AA’s financial performances by analyzing its financial reports throughout 2010 to 2012 using ratio analysis. Strengths and weaknesses are identified. Quantitative ratio analysis (liquidity measurement, profitability indicators, financial leverage/gearing, operating performance and investment valuation) indicates AA scores satisfactory among the five indicators, implying good corporate governance positively enhances financial performance. Positive cash flows reveal satisfactory liquidity positions. Results provide implications for companies to maintain better corporate governance in future.
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Moudud-Ul-Huq, Syed. "Linkage between corporate governance and corporate social responsibility in banking sector of Bangladesh." International Journal of Financial Engineering 02, no. 04 (2015): 1550036. http://dx.doi.org/10.1142/s242478631550036x.
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This paper has been made to analyze the linkage between corporate governance and corporate social responsibility. From analysis, it is found that Eastern Bank Ltd. (EBL) performs better than other selected banks but not enough in practicing corporate social responsibility. While, conventional banks are more imperative than Islamic banks as all the indicators cover its benchmark apart from return on total assets. It has proved that there is a significant relationship among return on equity, earnings per share, corporate governance and corporate social responsibility but corporate social responsibility has shown little impact on corporate performance.
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ElKelish, Walaa Wahid. "Corporate governance risk and the agency problem." Corporate Governance: The International Journal of Business in Society 18, no. 2 (2018): 254–69. http://dx.doi.org/10.1108/cg-08-2017-0195.
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Purpose This study aims to investigate the relationship between corporate governance risk and agency costs across different countries. Design/methodology/approach Corporate governance risk indicators were obtained from the Institutional Shareholder Services Europe (S.A.) for 4,135 firms across 27 countries. Agency costs and other control variables were derived from companies’ annual financial reports using the DataStream database. Ordinary least squares multiple regression analysis model was used to test the study hypothesis. Findings Agency costs have a significant negative impact on corporate governance risk across countries. The extent of corporate governance mechanisms used, however, varies across geographic regions and industry types. The relationship between corporate governance risk and agency costs is more obvious in the non-financial than financial sector. These results were robust after several statistical checks. Practical implications The findings will help stakeholders, including corporate management, regulators and investors to improve corporate governance mechanisms and capital allocation decisions across countries. Originality/value Evidence is provided on the role of agency costs in corporate governance risk across geographic regions for financial and non-financial companies. The paper also overcomes common problems in corporate governance research such as construct validity, limited data and endogeneity.
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Mihail, Bogdan Aurelian, and Dalina Dumitrescu. "Corporate Governance from a Cross-Country Perspective and a Comparison with Romania." Journal of Risk and Financial Management 14, no. 12 (2021): 600. http://dx.doi.org/10.3390/jrfm14120600.
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This paper investigates corporate governance from a cross-country perspective and makes a comparison with Romania. There are studies that examine the corporate governance issues related to Romanian companies, but these studies provide only qualitative and descriptive accounts of the research topic, with limited cross-country analysis. The present paper complements the literature by producing a quantitative analysis of cross-country corporate governance and makes a comparison with Romania. For this purpose, a set of corporate governance indicators from a large sample of 39 advanced and developing countries was collected for the 2006–2020 period. In terms of corporate governance dimensions, it was found that Romania underperforms other developing countries in the dimensions of director liability and ownership and control, while it outperforms them in the dimensions of corporate transparency, disclosure, and shareholder rights. The results indicate that the stagnant corporate governance scores and the low development level of stock markets stand out as important business challenges for the country. The correlation and regression analyses show that stock market development is closely associated with corporate governance dimensions and, overall, corporate governance scores matter greatly for the economic growth of countries, such as Romania, which can benefit greatly from the improvement of corporate governance codes and practices in the private sector.
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Chen, Chih‐Chun, Chun‐Da Chen, and Donald Lien. "Financial distress prediction model: The effects of corporate governance indicators." Journal of Forecasting 39, no. 8 (2020): 1238–52. http://dx.doi.org/10.1002/for.2684.
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Souza, Antonio Artur de, Simone Evangelista Fonseca, and Camila Martucheli. "Quality of accounting information, corporate governance and financial performance." Revista Catarinense da Ciência Contábil 21 (December 7, 2022): e3322. http://dx.doi.org/10.16930/2237-7662202233222.
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The Quality of Accounting Information and Corporate Governance influence the perception of investors about publicly traded companies. In view of this, this research explores the relationships among Quality of Accounting Information, Corporate Governance and Financial Performance of Brazilian and French companies. Thus, to demonstrate the existence of relationships among Quality of Accounting Information and Financial Performance of companies, governance structures and Financial Performance, and Quality of Accounting Information, governance structures and also Financial Performance of companies, a quantitative study of correlation among these dimensions was carried out. The relationships between quality and performance were statistically significant and have been proved. On the other hand, the relationships between governance and performance were strong, in view of the correlations found. Among the Financial Performance indicators, it is noteworthy that the profitability indicators are correlated with quality and governance more frequently than those of profitability. The result proved the initial assumptions about the existence of such relationships and showed that the French market reflected more evolution than the Brazilian market, that is, the relationships between Corporate Governance and Financial Performance were more evident in the case of French companies.
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Pavláková Dočekalová, Marie, Alena Kocmanová, and Jiří Koleňák. "Determination of Economic Indicators in the Context of Corporate Sustainability Performance." Verslas: Teorija ir Praktika 16, no. 1 (2015): 15–24. http://dx.doi.org/10.3846/btp.2015.450.
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This article is focused on determination of the most significant economic indicators influencing corporate sustainability performance. Corporate sustainability performance is a multidimensional concept based on the original idea of sustainable development, replacing the traditional understanding of corporate performance only as capital appreciation for owners (shareholders). Compared to the original concept of sustainable development which consists of environmental, social and economic performance, the so-called triple-bottom-line, it is broaden to the responsibilities and the impact of Corporate Governance on the corporate performance. The basic set of economic indicators has been constructed from a synthesis of resources developed by international organizations (Global Reporting Initiative, International Federation of Accountants) and research among manufacturing companies in the Czech Republic. The basic set of twenty-five key indicators is divided into seven groups: Costs, Investments, Economic Results, Asset and financial resources utilization, Suppliers reliability, Penalties and RandD expenses. Basic set of indicators was presented to 23 top-managers who quantified the potential effect of each indicator to the success and sustainability of their companies. Through the methods of descriptive statistics knowledge of the particularities of each indicator was obtained. Correlation analysis and factor analysis were applied in order to eliminate information duplicity and dimensionality reduction. The result is a reduction in the number of economic indicators, so that the loss of information on the influence of the original indicators on the corporate sustainability is minimized. Corporate sustainability indicators are a tool for measuring and managing progress towards sustainability goals and environmental, social and economic impacts.
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Cohen, Jeffrey, Lori Holder-Webb, Leda Nath, and David Wood. "Retail Investors’ Perceptions of the Decision-Usefulness of Economic Performance, Governance, and Corporate Social Responsibility Disclosures." Behavioral Research in Accounting 23, no. 1 (2011): 109–29. http://dx.doi.org/10.2308/bria.2011.23.1.109.
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ABSTRACT: Academic literature and the business press have placed increased attention on the corporate disclosure of nonfinancial information. This study uses a survey of 750 retail investors to examine perceptions about indicators of economic performance, corporate governance policies and performance, and corporate social responsibility. Survey results indicate that retail investors currently are most concerned with economic performance information, followed by governance, and then corporate social responsibility information. Those respondents who currently hold socially responsible investments use more of all three types of nonfinancial information than respondents who currently do not hold socially responsible investments. Further, retail investors clearly prefer to obtain information about corporate social responsibility information from a third-party source and governance information from an audited or regulated document, while they use both sources to garner information about indicators of economic performance. Respondents expressed an interest in increasing their use of nonfinancial information in the future. When respondents were asked to indicate the specific types of information they had the greatest interest in using in the future, economic performance indicators such as market share, customer satisfaction, and product innovation information were predominant.
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Andrews, Angela, Scott Linn, and Han Yi. "Corporate governance and executive perquisites." Review of Accounting and Finance 16, no. 1 (2017): 21–45. http://dx.doi.org/10.1108/raf-10-2014-0116.
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Purpose The purpose of this paper is to examine the relation between executive perquisite consumption and indicators of corporate governance after the Securities and Exchange Commission (SEC) expanded the disclosure requirements related to perquisites. Design/methodology/approach This study uses ordinary least squares and Tobit regressions to examine the dollar value of perquisites consumed, the number of perquisites consumed and the types of perquisites consumed. Findings The analysis shows that firms with weak corporate governance are more likely to award perquisites to executives. Firms characterized as being more prone to the presence of agency problems are associated with greater levels of perquisite consumption. Finally, there is evidence that not all perquisite consumptions can be attributed to an agency problem. Efficiently operating firms are associated with greater levels of perquisite consumption as are larger firms. Research limitations/implications The authors examine firms in the period immediately after the SEC initiated the expanded disclosures. This may limit the generalizability of the results to other exchange-listed firms that changed their perquisite policy as a result of the rule change. Originality/value The paper extends the literature on corporate governance and mandatory corporate disclosure by investigating the association between corporate governance characteristics and perquisite consumption. This paper examines this relation immediately after the SEC expanded the disclosures surrounding perquisites to provide the public with more transparent disclosures.
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Anastasia Chi-Chi (PhD), Onuorah, and Imene Oghenefegha Friday. "Corporate Governance and Financial Reporting Quality in Selected Nigerian Company." International Journal of Management Science and Business Administration 2, no. 3 (2014): 7–16. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.23.1001.
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This paper evaluated the level of performance of some selected companies ranging from commodities, brewery, banking, oil and gas and beverages in terms of corporate governance measure indictors on the firm quality of financial reporting in Nigeria. The data were collected from 2006 to 2015. Econometric analysis were conducted and the result suggests that the correlation among corporate governance indicators of board structure (size-BRDSZ and independence-BRDID), audit quality (audit committee size (ADCMZ), the quality of external audit (EADTQ) as measured by the presence of an auditor among the big-4), board experience (i.e. experience-BRDEX) and financial reporting quality is 93.47%. The independent variables can explain the variation in the FRQDA by 54.29%. There is overall significance among the parameters measuring financial reporting quality as discretionary accruals of firm (FRQDA). Board structure (size-BRDSZ), board experience (experience-BRDEX) and the quality of external audit (EADTQ) have positive impact on the financial reporting quality measured by the discretionary accruals of firm (FRQDA) by 16.01, 0.05 and 2.75. However, independent directors on the board of firm (independence-BRDID) and audit quality (audit committee size (ADCMZ) negatively affect financial reporting quality measured by the discretionary accruals of firm (FRQDA) as much as 0.99 and 20.01. Guarantee Trust Bank Plc. among the five selected companies of study in Nigeria has better performance of financial reporting based on board structure (size-BRDSZ) and audit committee size (ADCMZ). This revealed that there is short run relationship among Audit quality (audit committee size (ADCMZ), and the quality of external audit (EADTQ) as measured by the presence of an auditor among the big-4) and board experience (i.e. experience-BRDEX) have not granger cause FRQDA. It further recommended that greater focus on corporate governance indicators so as to bring about global standard financial reporting in the Nigerian emerging market for investment opportunity.
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Mariano, Sara Sofia Gomes, Javad Izadi, and Maurice Pratt. "Can we predict the likelihood of financial distress in companies from their corporate governance and borrowing?" International Journal of Accounting & Information Management 29, no. 2 (2021): 305–23. http://dx.doi.org/10.1108/ijaim-08-2020-0130.
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Purpose The purpose of this study is to investigate the impact of corporate governance structures on the likelihood of financial distress in UK listed companies. The paper examines the impact of borrowing and corporate governance structures on financial distress likelihood in UK companies. Design/methodology/approach The study uses a quantitative approach with financial, governance and borrowing measures and data from 270 firm-observations between 2010 and 2018. The study analyses the impact of borrowing and corporate governance structures to indicate financial distress likelihood in British companies. Corporate governance variables such as ownership concentration, independence indicators, chief executive officer duality, director remuneration and corporate loans are considered, as well as the UK Corporate Governance Code. Findings The results indicate that companies with low ownership concentration and a low degree of independence are more likely to incur financial distress. Larger boards and better director remuneration can reduce financial distress likelihood and the existence of corporate loans can increase this likelihood. Empirical consideration of corporate borrowing is a new contribution to the literature. Originality/value Variables are highlighted and aggregated that have not otherwise been studied together; the UK Corporate Governance Code’s main ideas are empirically supported; the study is useful for defining corporate governance structure strategies.
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Aras, Guler, Nuray Tezcan, Ozlem Kutlu Furtuna, and Evrim Hacioglu Kazak. "Corporate sustainability measurement based on entropy weight and TOPSIS." Meditari Accountancy Research 25, no. 3 (2017): 391–413. http://dx.doi.org/10.1108/medar-11-2016-0100.
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Purpose The purpose of this paper is to measure Garanti Bank’s corporate sustainability performance along with the main indicators of economic, social and environmental factors, taking into consideration of the governance indicators. Design/methodology/approach Recent global economic developments indicate that the main corporate sustainability indicators of economic, environmental and social factors are insufficient for the sustainability practices of the companies. Along with these indicators, a good administrative structure should be evaluated as a whole to measure the sustainability performance. For measuring corporate sustainability performance of the bank along with the economic, environmental, social and governance dimensions of corporate sustainability, content analysis, entropy and technique for order preference by similarity to ideal solution (TOPSIS) methods are used with a total of four corporate sustainability reports published by Garanti Bank within the period of 2010-2014. Findings The results depict that the sustainability performance of Garanti Bank tends to increase during the time span. Among all dimensions, economic dimension has the highest impact on overall sustainability performance, as it has the highest weight in entropy. On contrary, governance dimension has the lowest impact on overall performance. Research limitations/implications This paper has implications in enhancing the understanding of corporate sustainability measurement both using content analysis, and TOPSIS particularly in a developing country, although it is limited by the size of the corporate sustainability reports and time span. Originality/value This paper attempts to reveal an emerging banking sector specific corporate sustainability materiality. This is the first study in Turkey which includes both qualitative and quantitative data analysis techniques considering the content analysis and TOPSIS.
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Koehn, Daryl, and Joe Ueng. "Corporate governance ratings: general concerns and specific problems in the European context." Corporate Ownership and Control 5, no. 1 (2007): 58–65. http://dx.doi.org/10.22495/cocv5i1p5.
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Recent corporate scandals have led investors to monitor corporate governance more closely. Corporate governance ratings by independent agencies have become popular with investors seeking indicators of good market returns. We present empirical data showing that such CG ratings show no significant correlation with European firms’ stock price appreciation. We conclude with a few thoughts concerning possible dangers associated with the use of CG ratings