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Bassey, David Nkata. "Corporate Governance Implementation in the Nigerian Banking Industry." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5676.
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The increasing level of fraud, the collapse of banks, and the loss of confidence in the Nigerian banking industry have been attributed to poor corporate governance. The problem of this study was effective implementation of corporate governance in Nigeria where multiple regulations are in place. The purpose of this qualitative single case study was to understand how corporate governance is implemented in the Nigerian banking industry in the face of a multiplicity of regulations. The research question investigated how Nigerian bank managers implement corporate governance regulations in the face of a multiplicity of regulations. The conceptual framework was grounded in stewardship theory. Data collection included document analysis and face-to-face semistructured interviews to gain an understanding of how to implement corporate governance based on the perception of 15 purposefully selected senior managers and directors of the host bank. Data were analyzed using Yin's 5-Stage data analysis approach. Findings revealed that the involvement of senior bank managers and the adoption of global best practices, training, education, and awareness creation are the prerequisites for effective implementation of corporate governance. Findings may be used to reduce corporate failure, improve compliance, and restore confidence in the banking industry through enhancing the understanding of practitioners, investors, and policymakers on how to implement corporate governance in a highly regulated banking environment and contribute to positive social change.
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Östberg, Per. "Corporate disclosure and investor recognition /." Stockholm : Economic Research Institute, Stockholm School of Economics (EFI), 2005. http://www.hhs.se/efi/summary/687.htm.
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Walker, Andress. "Corporate Governance Strategies to Improve Organizational Performance in the Accounting Industry." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5806.
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Corporate governance is a leading factor in organizational performance, financial reporting, and stakeholder satisfaction. The purpose of this multiple case study was to explore strategies that senior managers in the accounting industry implement to enforce corporate governance and improve organizational performance. The conceptual framework for the study was stakeholder theory. The population for this study included 3 senior managers of 3 different organizations in the accounting industry located in western United States. Data were collected through semistructured face-to-face interviews and from review of documented corporate governance strategies. The data analysis consisted of the following steps: compiling the data, disassembling the data, reassembling the data, interpreting the data, and drawing conclusions. Three themes emerged from this study: corporate governance, laws, rules, and regulations; the role of corporate governance in organizational performance; and effective corporate governance strategies. The results of this study may contribute to social change by improving the quality of employees' work lives. With improved quality of employee work life, employers may benefit from higher productivity, and consumers may experience improved services.
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Beqiri, Arlinda. "Corporate Governance and Banking Governance within Conventional and Islamic banking systems. : A Cross-case Study between Conventional banks in Sweden and Islamic banks in UK." Thesis, Karlstads universitet, Handelshögskolan, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-47998.
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The aim of this study is to understand and analyse the relationship between corporate governance (CG) and banking governance (BG) in Conventional and Islamic banking systems. The reason for choosing this topic was because the regulations and banking systems within Conventional banks are differently in comparison to Islamic banks, which means that their corporate governance and banking governance are influenced by different mechanisms and therefore regulated differently. Since Conventional banks stands for a small amount of Islamic banks in their markets and Islamic countries do have Conventional banks in theirs, made this topic a good case study. Furthermore is Sweden a Conventional country where they don’t offer Islamic financial services and the UK is a Conventional country where they do, which was an interesting fact since both of them are European countries with similar regulations. The author of this thesis chose qualitative, semi-structured interviews, where six persons: three from Sweden and three from the UK stood for answers toward their banking systems. Since these respondents were standing on a high position within their organizations did they have the knowledge needed to answer the questions asked. The result showed that the relationship between CG and BC in Conventional and Islamic banking systems have an impact in the way different types of banks operate. Identifying the Conventional and Islamic banks differences and assessing on how the Corporate Governance and Banking Governance do operate solves the complexity in the system. Based on the findings, countries that are applying the Conventional system need to expand their regulations and mechanisms so that other systems could operate without a need for changes in their own. They also need to expand their knowledge, where the population needs to be familiar with other banking systems and services as well.
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Areneke, Geofry. "Comparative study of the impact of compliance with corporate governance regulations & internal governance mechanisms on financial performance of listed firms in Africa." Thesis, Open University, 2018. http://oro.open.ac.uk/55921/.
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This thesis examines and compares the impact of internally generated alternative corporate governance structures and compliance with country-level corporate governance regulations on financial performance of listed firms in South Africa and Nigeria. Firm-level data for the study was collected manually and triangulated with Datastream dataset for 100 listed firms for the period 2010–2014 (500 firm-years) in South Africa and 80 listed firms for the period 2011–2015 (400 firm-years) in Nigeria. Adopting a multi-theoretical approach and more importantly New Institutional Economics (NIE) theory, this study shows that cultural, contextual and institutional similarities and differences in corporate governance mechanisms across different countries impact differently on firm-level behaviour, which affects firm financial performance differently. Empirically, the thesis shows there is a statistically significant positive effect of compliance with Nigerian and South African corporate governance code (compliance index model) on firm accounting performance (ROCE). This implies that firms that comply with corporate governance regulations in both countries benefit from increasing accounting returns more than firms that do not. However, results based on market performance (Q-ratio) show that compliant firms with King III corporate governance guidelines in South Africa are associated with decreasing market valuation (Q-ratio), whereas firms compliant with Nigeria SEC 2011 corporate governance regulations are associated with increasing market valuation (Q-ratio). The alternative internal corporate governance mechanisms (variables in the equilibrium variable models) show similar and consistent mixed results compared to those reported by previous studies. Specifically, in South Africa, excluding board size which showed consistent negative statistically significant coefficients across both performance measures, the rest of the internal mechanisms are either statistically significant with one performance measure but insignificant with the other performance measure or significant with both measures but with contradictory signs of coefficients. Similarly, in Nigeria, out of the 14 firm-level internal corporate governance structures, six showed insignificant results irrespective of the performance measure, whereas six showed significant results with one performance measure and insignificant results with the other. Only gender diversity and ethnic diversity showed consistent statistically significant coefficients across both firm financial performance proxies. The study contributes to corporate governance literature in many ways. First it shows the level of maturity in governance institutions, in addition to normative rules and informal norms across countries, has a significant bearing on firm-level governance practices. More so, historical and contextual path dependence has produced a diversity of firm-level and country-level specific internal CG structures that may work well within an institutional environment in which they have evolved but may not work in others. The resulting consequence is that in countries with developed or more mature governance institutions (e.g. South Africa), stock markets undervalue firms with high compliance with normative governance rules, whereas in countries with emerging/growing governance institutions (e.g. Nigeria), stock markets highly value firms’ compliance with normative governance guidelines. Furthermore, the impact of compliance with normative CG guidelines on firm accounting performance in countries with mature governance institutions (South Africa) is similar to that with emerging governance institutions (Nigeria). More so, despite institutional voids, firms in African markets are committed in improving governance institutions by adopting recommended good CG practices implemented by regulatory authorities. Hence emerging African economies are adopting institutional isomorphic practices in governance compliance. Specifically, firms in these markets are transmitting good governance institutions to emerging economies by improving on their CG practices.
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Baric, Zeljka. "The Role of Internal Audits within Financial Institutions in Sweden." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-302317.
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Corporate governance is a highly discussed topic in financial circles. Recent corporate failures have triggered regulatory reforms where the internal audit was given a stronger position. However, this regulatory evolution also brought challenges to internal audit activity. The growing demands and pressure from stakeholders have placed internal auditors in a difficult position of having to serve several stakeholders and sometimes inconsistent ones with different agendas. That is why the aim of this thesis was to examine how regulations have impacted the internal audit within financial institutions with a special focus on internal auditors’ relations with their stakeholders. In order to achieve the aims of this study, qualitative interviews were conducted as they were considered most suitable in order to uncover a deeper meaning and significance regarding the topic. The findings in this study indicate that internal auditing activity within financial institutions faces a multitude of challenges. Beyond having to deal with traditional duties, these institutions now have to incorporate mandatory audits from regulators within their scope of practise as well. This steers them in a direction where they have to satisfy the needs of yet another stakeholder.
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Jiang, Liangliang. "Empirical essays in corporate governance, regulation and corruption." [Gainesville, Fla.] : University of Florida, 2009. http://purl.fcla.edu/fcla/etd/UFE0024962.
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Guarniz, Izquierdo Reynaldo Antonio. "The cynicism and Corporate Governance." IUS ET VERITAS, 2017. http://repositorio.pucp.edu.pe/index/handle/123456789/122413.
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In this article, the author explains about the adoption of corporate governance practices, which depends on an evaluation of costs and benefits. Peruvian companies do not assume these practices because of the lack of incentives, informality and poor regulation. Finally, he concludes peruvian regulation of corporate governance practices lacks content, which means that it is not a priority for companies.En este artículo, el autor explica acerca de la adopción de prácticas de gobierno corporativo, la cual depende de una evaluación de costos y beneficios. Las empresas peruanas no asumen dichas prácticas por causa de la falta de incentivos, informalidad y deficiente regulación. Finalmente, el autor concluye que el tratamiento peruano de las prácticas de gobierno corporativo carece de contenido, lo que genera que no sea una prioridad para las empresas.
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Smith, G. "Corporate governance : In search of balance between state regulation and self regulation." Thesis, Queen's University Belfast, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.517519.
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Li, Li, and 李莉. "Bank regulation, corporate governance and bank performance around the world." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2009. http://hub.hku.hk/bib/B43224088.
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Akintoye, Simisola Imelda. "Corporate governance regulation and control of fraud in Nigerian banks." Thesis, University of Sheffield, 2015. http://etheses.whiterose.ac.uk/11873/.
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The 2009 banking crisis in Nigeria awakened the country on the need for effective corporate governance regulation. In a bid to prevent future banking crisis in the country, this thesis examines control fraud in the 2009 banking crisis using the first five banks involved as a case study. The research addresses three major areas of concern: first, it investigates the fraudulent activities of the banks’ CEOs in the periods leading to the crisis; second, it explores the involvement of other corporate actors in the banking crisis; lastly, it examines how corporate governance regulation can be improved to reduce the likelihood of future control fraud in the banking sector. The research adopts a socio-legal method that links corporate governance regulations pre and post banking crisis to the role of corporate actors including CEO’s, auditors, shareholders and Regulators in corporate governance. The research explores corporate governance as a driver of control fraud in Nigerian banks. The research suggests that prevention of control fraud is not in itself determined by provision of adequate corporate governance regulation but also include a number of enforcement mechanisms and contribution of corporate participants, a totality of which could help prevent future control frauds in Nigerian banks. The research contributes to theory, practice and policy. First, it integrates and enhances appropriate literature and knowledge on corporate governance regulation in Nigerian banks. Also, by using the concept of control fraud to understand the banking crisis of 2009; the research unfolds a relatively new type of fraud perpetrated by CEOs in collaboration with other corporate individuals. This is the first study of its kind in Nigeria and will be useful for future studies to adopt in conducting similar research. The research also influences regulators and policy makers by providing a set of recommendations for each actor in corporate governance which can be incorporated into law in the fight against future control frauds in Nigerian banks.
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Cairns, Steven. "Changing the culture of financial regulation : a corporate governance approach." Thesis, University of Liverpool, 2014. http://livrepository.liverpool.ac.uk/2008505/.
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The 2007-09 Global Financial Crisis has been described as the greatest crisis in the history of financial capitalism. The failure of the global financial system was triggered by the ‘Great American Real Estate Bubble,’ however it quickly developed into a global liquidity squeeze that left financial markets at the brink of collapse. The thesis argues that the general culture of banking prevalent at the time both caused and exacerbated the crisis. The Business Strategies were excessively risky, focusing on short-term gains, at the expense of financial security. It is therefore purported that to mitigate the risks of any future global financial crisis a fundamental change in the culture of banking is needed. Behavioural expectations and norms must be redefined and more prudent strategies inculcated. The thesis will show that the only way to hope to achieve such a cultural shift is to employ a holistic approach, encompassing supervision, regulation and crucially corporate governance mechanisms. Previous debates within the UK have tended to focus on macro and micro regulatory reform. However, it is purported that it was in many cases, risk monitoring and management practices within financial institutions that dramatically failed. Whilst prudential regulation is important, the thesis will show that it alone is insufficient to change the culture within the financial system; a multi-faceted approach is needed. The central argument to the thesis will show that corporate governance mechanisms must play a central part in the legal and regulatory response to the Global Financial Crisis, as part of a cohesive package of measures necessary to effect cultural change; it will do this by conducting a case study into the collapse and subsequent nationalisation of Northern Rock Plc.
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Li, Li. "Bank regulation, corporate governance and bank performance around the world." Click to view the E-thesis via HKUTO, 2009. http://sunzi.lib.hku.hk/hkuto/record/B43224088.
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Schwarz, Sebastian Henner. "Regulierung durch Corporate Governance Kodizes." Doctoral thesis, [S.l. : s.n.], 2005. http://deposit.ddb.de/cgi-bin/dokserv?idn=976510898.
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Miranda, Tatiana Conceição de. "Governança corporativa numa perspectiva historica = da firma gerencial as corporações financeiras." [s.n.], 2010. http://repositorio.unicamp.br/jspui/handle/REPOSIP/285653.
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Orientador: Paulo Sergio FracalanzaDissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia
Made available in DSpace on 2018-08-15T12:12:48Z (GMT). No. of bitstreams: 1 Miranda_TatianaConceicaode_M.pdf: 880679 bytes, checksum: e979b463b3705cdbc2208f8552220ef3 (MD5) Previous issue date: 2010
Resumo: O presente trabalho visa apresentar numa perspectiva histórica as principais transformações ocorridas no plano da governança corporativa americana desde o princípio do século XX até os dias de hoje. Cabe mencionar que além dos recursos históricos, a dissertação traz importantes elementos teóricos que contribuem para o melhor entendimento do tema em questão, como é o caso do tratamento que a Teoria da Regulação Francesa dá às transformações ocorridas no capitalismo no curso do século XX e aos fundamentos teóricos oferecidos pela abordagem da Teoria da Agência. Identificam-se dois modelos de gestão empresarial neste período: um que foi típico do capitalismo gerencial até a década de 1970 e um outro que prevalece desde então até os dias de hoje, caracterizado pela centralidade das finanças. No primeiro modelo de governança, as decisões gerenciais voltadas ao crescimento e longo prazo e ao desenvolvimento de inovações assumiam grande importância, ao passo que no segundo, são os desígnios dos acionistas motivados pelo objetivo da maximização do capital aplicado nas firmas que ocupam uma posição primordial
Abstract: The present work aims to present in a historical perspective the main transformations ocurred on American corporate governancefrom the beginning of the century XX until nowadays. In order to accomplish this task, besides the use of historical sources, the dissertation brings important theoretical elements to the best understanding of the issue. In this regard, it is useful to mention the use of Régulation Theory that helps to understand the changes in capitalism during the twentieth century and theoretical foundations offered by Agency Theory's approach Two models of business administration are identified in this period: one that was typical of the managerial capitalism until the decade of 1970 and another that prevails until present time, characterized by the centrality of financial decisions. In the first corporate governance model, the managerial decisions aiming growth in the long run wereassumed to depend extensively on innovations in a Schumpeterian perspective, while in the second, the primary motivation of shareholders tends to move to maximizing the applied capital in the short run
Mestrado
Historia Economica
Mestre em Ciências Econômicas
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Molin, Johan. "Essays on corporate finance and governance." Doctoral thesis, Stockholm : Economic Research Institute, Stockholm School of Economics [Ekonomiska forskningsinstitutet vid Handelshögsk.], 1996. http://www.hhs.se/efi/summary/421.htm.
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Horn, Roelof Combrinck. "The legal regulation of corporate governance with reference to international trends." Thesis, Link to the online version, 2005. http://hdl.handle.net/10019/1042.
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Horn, Stefan. "Takeover Regulation in Europe An Emerging Market for Corporate Control? /." St. Gallen, 2005. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/02607869001/$FILE/02607869001.pdf.
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Juks, Reimo. "Corporate governance and the firm's behaviour towards stakeholders." Doctoral thesis, Handelshögskolan i Stockholm, Finansiell Ekonomi (FI), 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-938.
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Obey the Law and Do a Little Bit Extra? The paper provides evidence on how firms’ stakeholder orientation is associated with standard measures of corporate governance using a panel of 1778 US companies during the period of 1995-2006. We construct two binary indicators, one measuring stakeholder hostility and the other stakeholder friendliness using data from KLD ratings agency. Based on these indicators, we classify firms into four groups representing stakeholder hostile, neutral, friendly and ”friendly and hostile” firms. Our results show that both stakeholder friendly and hostile firms tend to have significantly lower insider ownership, smaller option grants, lower pay-performance sensitivities, larger boards, older executive officers and directors, lower institutional ownership and larger number of anti-takeover defenses than the firms in the neutral group. We also find that the probability of stakeholder hostile activity is positively related to the strength of corporate governance, but the effect is insignificant except in local and global community areas. A possible explanation is that in these areas stakeholders are protected mainly by ethics and social norms rather than by various regulations that is commonplace in labour, environment and customer related areas. These findings lend support for the idea that stakeholders are best protected by various regulations. Corporate Governance and Workplace Safety. This paper examines how the weakening in corporate governance affects workplace safety. We use anti-takeover laws in the US in the 1980s as a source of variation in corporate governance. Our measures of workplace safety are the number of violations of OSHA workplace safety regulation, penalties paid for these violations, the number of accidents and employees’ complaints about their workplace safety. We find that firms affected by the regulation presented significantly more workplace safety violations and penalties than otherwise similar firms that were not affected by the regulation. Accidents and complaints tend to decrease as a result of the anti-takeover regulation, but the results are not entirely robust. We also document that the increase in workplace safety violations was significantly smaller in unionized firms. This suggests that unions can play an important role in curbing managerial discretion. How Responsible is Private Equity? The financial success of leveraged buyout targets (LBOs) is frequently associated with deteriorating conditions for other stakeholders, such as workers, customers, suppliers, tax-payers and society as a whole. We obtain a comprehensive set of stakeholder ratings for a sample of 373 LBOs and examine the pre-and post-LBO performance of these ratings. LBO targets are characterized by weak stakeholder relations across a number of measures compared to their peers, in terms of corporate governance, transparency, employee relations and community relations. Controlling for this selection, we do not find systematic evidence in favor of the idea that private equity funds gain at the expense of other stakeholders. Private equity ownership alters targets in the direction of higher pay, improved work-life benefits, increased charitable giving, and decreased concerns related to retirement benefits, adverse economic impact, tax disputes, unfair marketing practices and antitrust problems.Diss. Stockholm : Handelshögskolan, 2010; Sammanfattning jämte 3 uppsatser.
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Březina, Václav. "Corporate governace a její právní rámec." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-16553.
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The master's thesis analyses the contemporary corporate governance standards and their legal framework. The paper describes the development of different corporate governance principles and the key legal pieces that regulate the corporate governance area (eg. Sarbanes-Oxley, Basel II, EC regulation). The core of the paper focuses on corporate governance failures that led to the current financial crisis, analyses their link to the corporate governance principles and describes the trends for development in the corporate governance regulation.
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Carrillo, Giovanna M. "The Impact of Regulation and Governance on the Risk Profile of Banks." Cleveland State University / OhioLINK, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=csu1336449506.
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Hanke, Philip Cosmo <1983>. "Regulating State Aid: Inter-jurisdictional competition, public choice, and corporate governance." Doctoral thesis, Alma Mater Studiorum - Università di Bologna, 2014. http://amsdottorato.unibo.it/6692/.
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Depending on the regulatory regime they are subject to, governments may or may not be allowed to hand out state aid to private firms. The economic justification for state aid can address several issues present in the competition for capital and the competition for transfers from the state.
First, there are principal-agent problems involved at several stages. Self-interested politicians might enter state aid deals that are the result of extensive rent-seeking activities of organized interest groups. Thus the institutional design of political systems will have an effect on the propensity of a jurisdiction to award state aid.
Secondly, fierce competition for firm locations can lead to over-spending. This effect is stronger if the politicians do not take into account the entirety of the costs created by their participation in the firm location race.
Thirdly, state aid deals can be incomplete and not in the interest of the citizens. This applies if there are no sanctions if firms do not meet their obligations from receiving aid, such as creating a certain number of jobs or not relocating again for a certain amount of time.
The separation of ownership and control in modern corporations leads to principal-agent problems on the side of the aid recipient as well. Managers might receive personal benefits from subsidies, the use of which is sometimes less monitored than private finance. This can eventually be to the detriment of the shareholders.
Overall, it can be concluded that state aid control should also serve the purpose of regulating the contracting between governments and firms. An extended mandate for supervision by the European Commission could include requirements to disincentive the misuse of state aid. The Commission should also focus on the corporate governance regime in place in the jurisdiction that awards the aid as well as in the recipient firm.
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Ye, Ana Jin. "Risk-taking by banks, corporate governance and regulation : evidence from EU countries." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/16397.
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Mestrado em Economia Monetária e FinanceiraO objetivo desta dissertação constitui em analisar a relação entre a estrutura acionista dos bancos e o risco tomado. Adicionalmente, é examinado o impacto da regulação bancária nessa mesma tomada de risco. A análise empírica considera uma amostra de bancos dos países da União Europeia, que se encontram atualmente cotados, durante os anos 2011 a 2016. O modelo econométrico usado foi a regressão generalized least squares random effect, uma vez que estamos a considerar um conjunto de dados de painel balanceado. Foi testada a hipótese de que os bancos que apresentam uma estrutura com poucos accionistas têm maior probabilidade em tomar mais risco, comparativamente com os bancos que apresentam uma estrutura accionista mais difusa. Igualmente foi considerada a estrutura do conselho de administração uma variável explicativa do modelo: se um numeroso e independente conselho de administração tem alguma influência na tomada de risco dos bancos. Atendendo à amostra utilizada, verificou-se alguma evidência entre a composição do conselho de administração e a tomada de risco. Por outro lado, relativamente à concentração da estrutura accionista, constatou-se uma evidência reduzida ou mesmo nula no risco. Relativamente ao impacto da intervenção regulatória no risco, não foi igualmente verificada uma significância na relação entre as duas variáveis, isto é, regulação mais rigorosa não influencia o risco que os bancos tomam.
The aim of this dissertation is to study the relationship between banks' ownership structure and its risk-taking behaviour. Additionally, we also examine the impact of the banking regulation in the way that banks take their risk. The empirical analysis considers a sample of listed banks from EU countries, over the period spanning from 2011 to 2016. The econometric model used was a generalized least squares random effect regression, since we are considering a balanced panel dataset. We test the hypothesis that banks with a large shareholder structure have the propensity to take on more risk, when comparing to those who have a more diffuse shareholder structure. We also consider the structure of the board of directors as an explanatory variable in our model: if a bigger board or more independent directors have an influence on the bank risk-taking behaviour. Taking into account the selected sample, we found some evidence that the board of director's structure can influence the bank risk behaviour. On the other hand, to the ownership concentration, little or no evidence was found. Regarding the influence of the regulatory environment in the bank risk, there is no significant relationship between them, i.e. stricter regulation has no effect on how banks take their risk.
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Lui, Alison. "Regulation and corporate governance : a case study of the UK banking industry." Thesis, University of Liverpool, 2014. http://livrepository.liverpool.ac.uk/18153/.
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Financial stability remains a key theme in UK financial regulation. This thesis investigates important issues of financial regulation revealed in the financial crisis of 2007-2009. It will analyse macro and micro prudential regulatory weaknesses in UK financial regulation in light of the financial crisis of 2007-2009. The structure of the new ‘twin-peaks’ model in the UK will be compared with the Australian ‘twin-peaks’ model. There are concerns that the Bank of England might have too much power and is thus a super single financial regulator in the ‘twin-peaks’ model. The author will compare the new ‘twin-peaks’ model with the German regulatory structure, where some similarities are found due to the sharing of supervisory responsibilities between the regulatory bodies in both jurisdictions. As far as the author is aware, there is a gap in the literature because the ‘twin-peaks’ model in the UK only came into existence in April 2013 and the literature in comparing this model with the Australian and German models is scarce. The thesis adopts a doctrinal, comparative case study approach, as well as a quantitative analysis of the important financial ratios of four major UK banks and four major Australian banks. The thesis will reveal that the Financial Services Authority (FSA) failed to supervise banks such as Northern Rock, Bradford & Bingley and HBOS properly. The main regulatory and supervisory failures of the FSA are due to organisational and management problems. With regards to the statutory provisions on banking regulation, the Financial Services Markets Act (FSMA) 2000 is complicated, with standards and principles underpinning the FSA’s statutory core objectives. The FSA’s remit is too wide. It is responsible for regulating banks, deposit-taking institutions and insurance companies. With the development of complex products, increased use of securitisation and merging of financial services offered to customers, the tripartite system increasingly found it difficult to delineate their scope and responsibility. Overall, the FSA’s passive, non-interventionist and laissez-faire regulatory approach led to criticisms that its measures were too late and too little. In comparison to the big four Australian banks, the thesis revealed that the big four UK banks had on average, higher cash ratio, higher leverage ratio, higher loan to deposit ratio, higher capital ratio, lower asset quality, lower return on assets but higher return on equity than the big four Australian banks. There is gradual convergence between the UK and Australian prudential supervisory models although there are still some differences between the two models. Financial stability is enshrined in both countries’ legislation and is a key priority after the financial crisis of 2007-2009. Both regulators reject a ‘zero-failure’ regulatory policy. The Prudential Regulatory Authority (PRA) shares the Australian Prudential Regulatory Authority’s (APRA) opinion that it is impossible to prevent all bank failures. Therefore, with the Special Resolution Regime contained in the Banking Act 2009, the PRA’s role is to minimise the systemic effect of any bank failure. The PRA’s supervisory style is based on judgement; risks; forward-looking and early intervention. This is very similar to APRA’s. PRA’s risk assessment framework and its supervisory responses based on the Proactive Intervention Framework. Yet, there are differences between the prudential regulatory and supervisory systems between Australia and the UK. The UK legislative framework is more complex than the Australian framework. Further, the PRA has policy setting powers although the vertical integration of financial regulation at European level may suggest that the PRA is unlikely to exercise this power very often. APRA on the other hand, does not have such wide policy setting powers. The UK Risk Assessment Framework takes more mitigating factors into account. Its Proactive Intervention Framework has five stages and early intervention is clearly a priority for the PRA, since it can start planning for resolution of an organisation even at stage 1. This is in contrast to the Australian SOARS methodology, where there are only four stages and resolution of an organisation takes place in the later stages. There are fears that the new structure within the Bank of England will make it a super single regulator. The thesis will compare the ‘twin-peaks’ model with the German regulatory structure since there are similarities in the sharing of supervisory responsibilities between the UK and German models. The thesis will then make several recommendations on how this concentration of power can be addressed.
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Kerr, Vindel Leroy. "Exploring corporate governance structures and practices in Jamaica : towards policy reform." Thesis, University of Manchester, 2010. https://www.research.manchester.ac.uk/portal/en/theses/exploring-corporate-governance-structures-and-practices-in-jamaica-towards-policy-reform(293fd6e3-436c-49d2-8288-74a5bd2d4385).html.
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This study explores corporate governance (CG) structures and practices in Jamaica to fill theoretical, practical and public policy gaps. The study is organized into four parts and nine chapters. Part one is an introduction to the thesis and the contextual setting. Part two explores the theoretical and methodological framework via an in-depth review of the social science literature on CG and sets out the research strategy and methodology. Part three analyses and discusses the findings from the fieldwork, and part four examines gaps, proposes recommendations for reform, discusses conclusions, limitations of the study, and suggestions for future research. The study assumes a two-fold hypothesis of a CG problem and public policy problem. The CG problem is characterised by a dearth of empirical literature, a lack of CG awareness, and inadequate and poor CG practices among public bodies. The public policy problem is defined by a weak regulatory framework, systemic weaknesses in the financial sector, and pervasive corporate and political corruption. In seeking solution to the problems under review, the study adapts the interviewer’s administered survey method supported by three in-depth case studies and two focus groups. The views of about 100 respondents were sought and an additional unspecified number of informal informants. This multi-technique approach ensured that the weaknesses of a given technique were compensated for by the counterbalancing strengths of other techniques. The key themes of focus were regulation, corruption, ownership and control, stakeholder relations, perceptions and role of institutional investors, board characteristics and processes and the board’s role in strategic decision-making and corporate disclosures. The findings revealed that while Jamaica has implemented several laws and regulations, there are still gaps in coverage, content and effectiveness of implementation. Corruption is still rampant in spite of evidence of a reduction since 2006 (TI 2008 Report). Ownership and control of Jamaican firms are highly concentrated and mainly by oligarchic groups giving way to such problems as an under-developed new issues market, a high degree of insider boards, inadequate minority protection, poor information disclosure, and incentives are aligned to dominant shareholders. There is a lack of representation and voice of employee and trade union representatives in the Jamaican boardrooms and institutional investors (II), while controlling approximately 75% of listed companies, are not interested in promoting CG reform over and above the extent to which such efforts would redound to their self-interest. IIs play influential roles in financing Jamaican politics and control large distribution channels, and determine who gets large private sector contracts. While much is being done internationally to achieve gender balance in the boardroom, the mean number of females on Jamaican corporate boards is 1.8 (or 19.8%) with an average board size of 9.1 Directors. Cross-tabulation analyses were conducted and tests for relationships between and within groups of key variables (board size, Chair/CEO duality, NEDs vs. EDs, number of female Directors with listed and unlisted firms and dominant ownership dispersed vs. closely held) and nothing of significance was found. The study has concluded that reform is needed in several areas. These include increase of coverage and content of legislation and enforcement mechanisms to improve CG and fight corruption; reform of corporate boards - director selection and appointments, board’s role and conduct of Directors, training and board performance evaluation. Future research is directed at more emphasis on CG in developing countries, SMEs, public bodies and non-profit organizations, the role and contribution of employees and trade unions, the board’s role in influencing strategy, and the role of risk management. The study seeks to contribute to the growing body of international literature on emerging CG and targets primarily academics, practitioners and policymakers.
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Ruppel, Conrad. "Dimensions of the global financial crisis the future of corporate governance and regulation." Göttingen Cuvillier, 2009. http://d-nb.info/1001110048/04.
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Dell'Erba, Marco. "The regulation of hedge funds : definition and governance." Thesis, Paris 1, 2015. http://www.theses.fr/2015PA010306.
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La thèse se compose de deux parties, une première partie sur la question de la définition des fonds spéculatifs et une deuxième partie sur la question de la gouvernance en relation au risque systémique. La première partie se compose de deux sous-parties. Une première est vouée à l'analyse de certains problèmes liminaires, comme les questions de méthode et d'autres de questions liées à la fonction économique des hedge funds. Dans cette sous-partie est également traitée la question des différents éléments qui concourent à définir les hedge funds (notamment la stratégie d'investissements, la structure légale, des questions contractuelles, la structure de la compensation des managers). Dans une deuxième sous-partie la question de la définition amène à une analyse des différentes juridictions des principaux états membres, suivie d'une étude comparative entre le système américain et européen.La deuxième partie est également structurée en deux-sous parties. Dans la première sous-partie, sont analysées les questions liées à la relation entre les hedge funds et la crise financière, la définition du risque systémique et les possibles options de gouvernance de la régulation. Dans la deuxième sous-partie est analysée le modèle de gouvernance de fonds spéculatifs qui émerge de la directive AIFM et autres dispositions. la question principale étant de savoir si un modèle de gouvernance d'inspiration bancaire peut être efficient dans le contexte de la régulation des hedge fundsNo English summary available
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Betzer, André. "Corporate governance mechanisms in Europe : an analysis of leveraged buyouts and insider trading regulation /." Berlin : Dissertation.de, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=2832815&prov=M&dok_var=1&dok_ext=htm.
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Nyaki, Judith V. "A critical analysis of Tanzanian corporate governance regulation and its impact on foreign investment." Thesis, University of Western Cape, 2013. http://hdl.handle.net/11394/3326.
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Magister Legum - LLMThe main objective of this study is to review the legal and regulatory framework of corporate governance in Tanzania with the focus on corporate governance laws and regulations. The study is intended to discuss the main legal and regulatory framework in Tanzania which plays a part in the corporate governance. The Companies Act No. 12 of 2002 will be reviewed in order to establish which corporate governance principles are provided and to what extent they are effective. The capital markets and securities laws, guidelines on corporate governance in Tanzania with a focus on the listing requirements and other regulations applied at the DSE will also be reviewed in order to establish their effectiveness in attracting investors to the market. Given the comparative value of South Africa and Kenya in SADC and EAC respectively, this work will also discuss the legal and regulatory framework of corporate governance in Kenya and South Africa and compare with those in Tanzania in areas such as shareholders rights; stakeholder’s right; board control and effectiveness and the effectiveness of compliance. Such comparative analysis is done in order to single out areas of focus in legal and regulatory framework in corporate governance law such as companies’ law and stock market and security laws in Tanzania.
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Andres, Christian. ""Corporate governance in Germany - an empirical examination of ownership structures, payout policy and disclosure regulation" /." Berlin : Dissertation.de, 2007. http://www.dissertation.de/buch.php3?buch=5288.
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Asafo-Adjei, Marang Akua. "Regulation of executive directors remuneration in South Africa : the road to achieving good corporate governance." Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/15188.
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The purpose of this dissertation is thus to evaluate the extent to which the existing legal and regulatory instruments in South Africa have effectively regulated director’s remuneration as a means of ensuring that those in control are accountable to the owners and do not remunerate themselves excessively with the owners’ money. The research will embark on a comparative analysis with international jurisdictions being Australia and the United Kingdom with the objective of determining how these countries have regulated executive director remuneration and the lessons that South Africa can learn from them. Lastly, the research will provide recommendations on how the existing framework s can be improved to ensure adequate and effective regulation of executive director remuneration.
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Li, Tao. "Ownership, privatization and banking regulation : four essays in the economics of transition and development /." Full text available, 2003. http://images.lib.monash.edu.au/ts/theses/litao.pdf.
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Chulu, Mwaka Judith. "Regulating board-level corporate governance in public companies in Zambia : a multi-method study." Thesis, University of Exeter, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.436303.
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Faye, Sainey. "An examination and analysis of bank corporate governance regulation in The Gambia : a grounded theory approach." Thesis, University of Plymouth, 2014. http://hdl.handle.net/10026.1/3155.
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The purpose of this research is to carry out an empirical investigation of bank corporate governance regulation in The Gambia. The aim is to determine what contributions, if any, effective governance systems can make to the management of the needs of different stakeholder groups within the financial sector. Through the application of grounded theory methodology this research aims to build a substantive theory of corporate governance regulation within The Gambian banking sector. The substantive theory identified the main phenomena and as such outlined the model of corporate governance currently prevailing in The Gambian banking sector. The grounded theory methodology adopted for this research includes a three stage process of analysing data namely open coding, axial coding and selective coding. Firstly, through the application of comparative method in open coding semi structured interviews and focus groups discussions were conducted with senior bank executives, employees and customers, as well as regulators across The Gambian banking sector. Open coding process enables the development and identification of properties and dimensions. The interviews were informed by survey questionnaires designed to sensitise and gain access to the identified participants and subsequently guided the semi structured interview questionnaires and focus groups that followed. Secondly, through axial coding, the open categories were incorporated into wider categories. The use of the paradigm model establishes the relationship among these categories. This led to the development of the human factor model of bank corporate governance regulation in The Gambian banking system. Finally, selective coding identified the core category through the verification of the second set of semi structured interviews and established its’ relationship with other sub categories. The substantive theory was further explored Categorical Imperative theoretical framework leading to a more formal substantive theory that considers corporate governance issues of financial sector stakeholders. It concluded that there is no consistency between banks when it comes to corporate governance mechanisms and codes partly due to obstacles such as environment, culture and policies. Thus, regulatory compliance and ethics are therefore necessary to serve as a moral compass in the absence of a mandatory regulatory framework. Finally, this thesis also explored the phenomenon of corporate governance, grounded theory and Categorical Imperative in an unexplored context. Thus, providing a new approach to corporate governance understanding to inform and to improve corporate governance practice. The identification of the substantive theory will also help key stakeholders to address the challenges, thus, minimising the risk of bank failures and improve the corporate governance regulation framework in The Gambia. Finally, this research also proposed an ethical code of conduct for The Gambia. The proposed code of conduct will influence future behaviour and subsequently improve the robustness of the banking system.
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Drake, Hannine. "The legal regulation of the external company auditor in Post-Enron South Africa." Thesis, Stellenbosch : University of Stellenbosch, 2009. http://hdl.handle.net/10019.1/2301.
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Thesis (LLM (Mercantile Law))--University of Stellenbosch, 2009.The worldwide increase of corporate failures on the scale of Enron and WorldCom has sparked a renewed international trend of corporate governance review. With the external company auditor blamed at least in part for many corporate failures, corporate governance reform also necessitates a review of the statutory regulation of the company auditor. In particular, the lack of auditor independence when auditing clients has been under the legislator’s spotlight. The problems associated with unregulated or poorly regulated auditors are well illustrated by the activities of auditing giant Arthur Andersen. In the US, the Sarbanes-Oxley Act has been promulgated in reaction to corporate failures, imposing many new legislative restrictions on the auditor. The UK has a more tempered, selfregulatory approach. South Africa, following international trends with its recently promulgated Auditing Profession Act and Corporate Laws Amendment Act, has also greatly increased the regulation of auditor independence. The question is now whether these new restrictions in the wake of corporate failures have been the right approach with which to prevent future failures and to provide adequate protection to shareholders. Although the general legislative increase in auditor awareness is welcomed, the efficacy of several provisions in South African legislation can be questioned. Widespread reform has taken place in the appointment and remuneration of the auditor, which now has to be independently determined by the audit committee. In particular, South Africa’s new regulation of non-audit services, and the lack of refined regulation on compulsory auditor rotation as well as the cross-employment of auditors by clients, needs a critical discussion. It is submitted that the discretion of a well-regulated audit committee, combined with increased disclosure and transparency, should be enough to regulate most of the key aspects of auditor independence. Care should be taken to not overlegislate in haste to reform. South Africa needs a flexible and customised approach in this regard.
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Bavoso, Vincenzo. "Explaining financial scandals : corporate governance, structured finance and the enlightened sovereign control paradigm." Thesis, University of Manchester, 2012. https://www.research.manchester.ac.uk/portal/en/theses/explaining-financial-scandals-corporate-governance-structured-finance-and-the-enlightened-sovereign-control-paradigm(9ba15ea7-692c-4fd2-bff3-d5e6a06f5bff).html.
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The explosion of the global financial crisis in 2007-08 reignited the urgency to reflect on the origins and causes of financial collapses. As the above events kick-started an economic meltdown that is still ongoing, comparisons with the Great Crash of 1929 started to abound. In particular, the externalities that a broad spectrum of societal groups had to bear as a consequence of various banking failures highlighted the necessity of a more inclusive and balanced regulation of firms whose activities impact on a wide range of stakeholders.The thesis is centred on the proposal of a paradigm, the “enlightened sovereign control”, that provides a theoretical, institutional and substantive framework as a response to the legal issues analysed in the thesis. These stem primarily from the analysis of two sequences of events (the 2001-03 wave of “accounting frauds” and the 2007-08 global crisis) which represent the background upon which modern financial scandals are explained. This is done by highlighting a number of common denominators emerging from the case studies (Enron and Parmalat, Northern Rock and Lehman Brothers) which caused financial instability and scandals. The research is grounded on the initial recognition of theoretical themes in the field of corporate and financial law, which eventually link with the more practical events examined. This parallel enquiry leads to the investigation of two heavily interrelated spheres of law and finally highlights more practical legal issues that emerge from the analysis.Through this multifaceted approach, the thesis contends that the occurrence of financial crises during the last decade is essentially rooted in two main problems: a corporate governance one, represented by the lack of effective control systems within large public firms; and a corporate finance one identified with the excesses of financial innovation and related abuses of capital market finance. Research conducted in this thesis ultimately seeks to contribute to current debates in the areas of corporate and financial law, through the proposals of the “enlightened sovereign control” paradigm.
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Ribeiro, Leonardo de Lima. "O modelo brasileiro de private equity e venture capital." Universidade de São Paulo, 2006. http://www.teses.usp.br/teses/disponiveis/12/12139/tde-02042006-163402/.
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O sucesso alcançado pela indústria de Private Equity e Venture Capital (PE/VC) no fomento ao empreendedorismo e na dinamização do setor empresarial norte-americano encorajou diversos países a importar este modelo vencedor de intermediação financeira. Entretanto, a atividade de PE/VC foi criada para desempenhar sob o ambiente institucional norte-americano, fazendo com que estudiosos tais como Gompers e Lerner (1999) levantassem dúvida sobre o sucesso na implantação deste modelo em outros países. Para verificar como a atividade de PE/VC se molda segundo o ambiente, este trabalho conduz um estudo empírico com todas as 65 organizações gestoras de PE/VC com escritórios no Brasil. A pesquisa foi realizada ao final de 2004 e obteve 100% de resposta. A análise foca no tamanho e a na macroestrutura da indústria. Os resultados são plenamente representativos e revelam um setor de PE/VC com tamanho modesto, bastante limitado pelo ambiente econômico-institucional, que prejudica a realização de negócios, embora ofereça oportunidades de investimento que supram as insuficiências do país em termos de infra-estrutura, segurança etc. Como principal resultado, o trabalho identifica similaridades e diferenças do modelo brasileiro de PE/VC em relação ao modelo vigente nos EUA. Os principais pontos em comum são: (i) predominam as organizações independentes que gerenciam recursos de investidores institucionais; (ii) o capital é concentrado regionalmente e em poucas organizações gestoras; (iii) os investimentos tendem a ser feitos próximos às organizações gestoras; (iv) os setores de software e TI são os mais procurados; (v) a qualificação dos gestores é similar a de seus pares internacionais. Por sua vez, as diferenças sugerem que o modelo tenha se adaptado ao novo ambiente institucional: (i) há tendência de investimento em empresas mais maduras, o que é compatível com o baixo nível de empreendedorismo de crescimento e elevada informalidade das pequenas empresas; (ii) O baixo numero de LBOs é compatível com a escassez e o alto custo do crédito; (iii) baixo grau de especialização dos gestores sugere poucas oportunidades de investimento em cada setor; (iv) concentração das organizações no centro financeiro do país sugere a busca de parceiros comerciais e compradores estratégicos para as empresas do portfolio (IPO é um mecanismo raramente utilizado); (v) a regulamentação reconhece o baixo grau de proteção dos investidores e obriga a utilização da arbitragem. Entre as diferenças encontradas, a pouca confiança que os investidores depositam nos gestores tende a se alterar conforme o setor adquire experiência e os gestores adquirem reputação.The outstanding success attained by Private Equity and Venture Capital (PE/VC) in fostering the U.S. entrepreneurial sector has encouraged several countries to import it. However, PE/VC was tailored to perform in the American institutional environment. As Gompers and Lerner (1999) state, the degree to which the U.S. venture model will - or can - be successfully adapted to other countries is a particularly interesting question. To answer this question we conduct an empirical study with all the 65 PE/VC management firms with offices in Brazil. The survey was conducted at the end of 2004 and attained a response rate of 100%. For this reason the results are fully representative. The analysis aims at the industry's size and structure. Relates them to institutional factors. It reveals a PE/VC industry whose size is heavily limited by the Brazilian institutional idiosyncrasies. At the same time, Brazil's lack of transportation, energy and telecommunications' infrastructure and security provides opportunities for PE/VC type of investments. As a main finding, this work identifies differences and similarities between the American and the Brazilian PE/VC models. The similarities are: (i) PE/VC firms are mainly independent and manage capital from institutional investors; (ii) capital is heavily concentrated regionally as well as in few management firms; (iii) investments are made within a close range from management firms; (iv) software and IT are the preferred sectors; and (v) managers are highly qualified. The main differences suggest that the model has adapted to the new environment: (i) in line with a lack of high-expectation entrepreneurship, there is a tendency to invest in more advanced stages; (ii) since credit is scarce, few LBOs take place; (iii) lack of sector specialization suggests few opportunities within each sector; (iv) management firms concentration in the financial cluster suggest a quest for commercial partners and strategic buyers for portfolio companies (IPO is a quite rare exit mechanism); and (v) Brazilian PE/VC regulation recognizes the inefficiency of the legal system and obliges the use of arbitration. Among the differences, the lack of trust between investors and managers should change as the industry evolves and managers gain reputation.
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Strohm, Christiane. "United States and European Union auditor independence regulation : implications for regulators and auditing practice /." Wiesbaden : Deutscher Universität-Verlag, 2006. http://www.springerlink.com/content/q67226/.
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Köhler, Matthias [Verfasser], Reint [Akademischer Betreuer] Gropp, and Falko [Akademischer Betreuer] Fecht. "Integration, Regulation, and Corporate Governance in the EU Banking Sector / Matthias Köhler. Reint Gropp. Falko Fecht." Kiel : ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften / Leibniz-Informationszentrum Wirtschaft, 2010. http://d-nb.info/1007380926/34.
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Okoye, Ngozi. "The personality of company directors as a behavioural risk contributor in the corporate governance process : regulatory intervention as a risk management mechanism." Thesis, University of Dundee, 2012. https://discovery.dundee.ac.uk/en/studentTheses/df19fdec-d5ed-4120-af7b-bed15a89c861.
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This thesis examines behavioural risks in corporate governance, and seeks to ascertain what constitutes behaviour. It finds upon an examination and analysis of literature that “personality” and “situations” are elements which contribute to behaviour. Consideration of risk management mechanisms in corporate governance indicates that the personality aspect of behavioural risks has remained largely unidentified. The thesis then focuses on the personality of company directors as a significant contributory factor to their behaviour, and therefore also constituting potential behavioural risks in relation to corporate governance. A question then arises as to how behavioural risks and personality risks in particular have been managed in corporate governance. Taking cognisance of the processes involved in risk management, it is found that personality risks have not been identified by any corporate governance mechanisms, and which means, therefore, that these risks have not been managed effectively under any of the existing corporate governance mechanisms, such as the Turnbull Guidance, UK Corporate Governance Code, UK Companies Act, and EU Company Law Directives.Considering the negative economic and social impact of corporate failures in relation to public listed companies, and the justification for the State to intervene in order to safeguard society from the occurrence and consequences of these failures, this thesis suggests a hybrid regulatory model as an approach to managing personality risks in corporate governance. Building upon relevant corporate and regulatory theories; and incorporating current realities as they relate to the regulation of companies, the thesis proposes a model with suggested provisions which are aimed at contributing to an effective outcome as regards personality risk management. The fundamental requirements of an effective risk management process are discussed and engaged with in the process of developing a conceptual framework for personality risk management from which the approach and provisions in the suggested model are drawn.
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Davidsson, Marcus, Camilla Johansson, and Johanna Nilsson. "Påverkar regleringar styrelsenätverket? : En studie av Svensk kod för bolagsstyrnings påverkan på det svenska styrelsenätverket." Thesis, Linnaeus University, Linnaeus School of Business and Economics, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-5865.
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Bakgrund: Under senare år har de börsnoterade bolagens styrning kommit att intressera samhället. Ett viktigt fenomen i bolagens styrning är styrelserna. Under de senaste 15 åren har omfattande regleringar införts för att klargöra och definiera hur styrelserna i de börsnoterade bolagen skall sättas samman och arbeta.
Syfte: Syftet med denna studie är att undersöka om, och i så fall hur, det svenska styrelsenätverket förändras efter utvecklandet och implementeringen av en reglering. Vår ambition är att ge förklaringar till varför eventuella förändringar sker.
Avgränsning: Studien har utgått från Svensk kod för bolagsstyrning som ett fall av reglering för att se hur denna har påverkat styrelsenätverket.
Metod: En social nätverksanalys av styrelseledamöternas nätverk har genomförts. Studien omfattar bolag noterade på en svensk reglerad marknad med säte i Sverige.
Slutsats: Studien påvisar att införandet av en styrelsereglering inte behöver leda till förändringar i styrelsenätverket. Däremot kan hotet om att en reglering skall införas utgöra ett starkt instrument, för att åstadkomma förändringar i styrelsenätverket.
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Leblanc, R. "Canadian regulation of director nomination and assessment." Thesis, Українська академія банківської справи Національного банку України, 2007. http://essuir.sumdu.edu.ua/handle/123456789/60685.
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Ця Канадська політика корпоративного управління, що має назву "Національна політика 58-201"
Керівні принципи корпоративного управління "(" Політика ") відображає політику в рамках
кількість юрисдикцій.This Canadian corporate governance policy, entitled “National Policy 58-201 Corporate Governance Guidelines,” (the “Policy”) is reflective of policies within a number of jurisdictions.
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Dudová, Tereza. "Správa a řízení společností (corporate governance) a její vztah ke kvalitě auditu." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-264186.
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The Thesis is focused on the concepts of audit committee and audit quality, which are the basic control mechanisms for the quality of financial statements. The Thesis first presents the reasons and conditions for the appointment of audit committee, then follows with the legal rules applicable for mandatory audit of financial statements and presents some common definitions and measures of audit quality. Next, the new regulation for mandatory audit in the European Union is presented. The practical part of the Thesis starts with an analysis of the annual reports of the companies that are a part of CZECH TOP 100 for the year 2014. The analysis is focused on auditor choice, audit fees, public interest entities and their obligation to appoint an audit committee. The next part contains an empirical analysis of the association between audit committee existence, auditor choice and audit quality, which is defined as the quality of reported earnings.
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Waddington, Nigel. "The regulation of corporate governance in Europe : The emerging EU regime and Europeanisation in Germany and the UK." Thesis, University of Manchester, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.505487.
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Mwanawasa, Chipokota. "A case analysis of the viability of the current regulation and enforcement mechanisms of corporate governance in Zambia." Master's thesis, University of Cape Town, 2016. http://hdl.handle.net/11427/20789.
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The narrative has changed. It is no longer 'Africa is rising' but 'Africa has risen'. Africa's economic potential is being sung from all corners of the world. One would think that the continent would undergo another 'scramble for Africa' following on from this economic boom. However, it is also clear that all this growth and foreign investment into African development cannot be embraced in the absence of proper commercial institutional structures and policy guidelines in the areas of corporate governance. While these structures may already exist to some degree, the areas of greatest concern are those of enforcement and regulation. This dissertation therefore examines the case for strengthening the regulation and enforcement mechanisms of corporate governance in Africa using Zambia as a case study. After an analysis of the law and the institutional framework surrounding corporate governance in Zambia, it becomes evident that the current self-regulatory system is weak and inadequate in terms of ensuring compliance: this shortcoming ultimately makes its raison d'être futile. A method of comparative law will be used to evaluate other models of enforcement and regulation by internationally recognised corporate governance codes and legislation in the United Kingdom, United States of America, South Africa and The Organisation for Economic Co-operation and Development (OECD). The objective is to try to answer the questions of what measures work well and to what extent; this information is used to ascertain which model would be suitable for Zambia to address the problems of regulation and enforcement. It should be noted however from the outset that this paper does not advocate for a 'copy and paste' modus operandi in responding to the challenges of corporate governance in Zambia. There is no one formula to answer economic corporate governance issues but these policies which have been successful elsewhere can be used as a basis to create an organic formulae that would ultimately be suitable for Zambia, taking into account the issues that are unique to its business culture, fiscal policies and economic growth among others.
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Stagniūnaitė, Jovita. "Bendrovių valdymo teisinis reguliavimas." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2008. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2007~D_20080125_131725-74646.
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Dabartinė bendrovių valdymo koncepcija iškilusi JAV IX dešimtmetyje, Europoje didesnio dėmesio susilaukė tik X dešimtmetyje, D. Britanijoje kilus plataus spektro įmonių krizėms. Nuo tada visoje ES vyksta aktyvus teisinio reguliavimo tobulinimas bendrovių valdymo srityje.
Bendrovių valdymas nagrinėjamas ne tik siaurąja prasme, kaip bendrovės veiklos administravimas ir kontrolė, vykdoma jos akcininkų, valdymo bei priežiūros organų, tačiau ir plačiąja prasme – kaip įvairialypiai santykiai tarp skirtingų bendrovės veikla suinteresuotų asmenų, reguliuojami imperatyviomis teisės normomis, rekomendacinio pobūdžio teisės aktais ir bendrovės vidaus dokumentais.
Santykiai tarp šių subjektų, jų teisės, pareigos bei interesų pusiausvyra priklauso nuo šalyje egzistuojančios bendrovių valdymo sistemos. Kokio tipo valdymo sistemą įtvirtino įstatymų leidėjas, kokia tvarka formuojami bendrovės valdymo organai, numatomos jų funkcijos bei atsakomybė už netinkamą įsipareigojimų vykdymą dažniausiai priklauso nuo konkrečios šalies istorinės praeities, šalyje vyraujančių bendrovių dydžio ir įstatymų leidėjo sugebėjimo reaguoti į beiškei���iančias verslo sąlygas šiuolaikiniame pasaulyje.
Siekiant įvertinti vienokio ar kitokio teisinio reguliavimo bendrovių valdymo srityje privalumus bei trūkumus, analizuotina kitų šalių, konkrečiu atveju ES valstybių narių - Austrijos, D. Britanijos, Lenkijos, Prancūzijos ir Švedijos patirtis. Remiantis pažangia minėtų šalių praktika tikslinga apsvarstyti... [toliau žr. visą tekstą]Actual concept of corporate governance that emerged in USA in the 9th decade, has reached more significant attention in Europe only in the 10th decade, after a wide range of company crises in Great Britain. Since than an active improvement of legal regulation in the sphere or corporate governance is taking place in the whole EU. Corporate governance is being examined not only in the narrow perspective, as administration and control of company’s activities, exercised by its shareholders, management and supervisory bodies, but also in a broad sense - as miscellaneous relationship between different individuals concerned about company’s activities, regulated by peremptory legal rules, acts of recommendatory character and company’s inner documents. Relationship among these individuals, their rights, duties and balance of interests depend on the system of corporate governance excising in the country. What type of corporate governance system was chosen, what is corporate bodies’ formation order, determined functions and responsibility for improper exercise of obligations, in most cases depend on the historical past of the country, the size of the companies and legislator’s ability to respond the changing business’s conditions in nowadays world. Trying to evaluate advantages and disadvantages of different legal regulation in the sphere of corporate governance, experience of other countries, in particular case experience of EU member states – Austria, Great Britain, Poland, France... [to full text]
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Івасів, І. Б. "Розвиток глобального регулювання корпоративного управління в банках." Thesis, Українська академія банківської справи Національного банку України, 2010. http://essuir.sumdu.edu.ua/handle/123456789/61871.
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Calsavara, Vanessa Remesik. "A evolução das práticas de governança corporativa nas empresas brasileiras de capital aberto." reponame:Repositório Institucional do FGV, 2013. http://hdl.handle.net/10438/11282.
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O objetivo deste trabalho é avaliar se houve evolução nas práticas de governança corporativa entre os anos de 2005 a 2012 nas empresas brasileiras que abriram capital entre 2004 e 2006, e se esta evolução ocorreu no sentido de melhoria das práticas de governança. Busca-se também entender se esta evolução ocorreu continuamente em todo o período estudado ou se somente nos primeiros anos após seu IPO. Também busca-se compreender se a evolução ocorreu somente nos requisitos mandatórios por lei ou se houve uma real mudança de cultura nas empresas após abrirem seu capital. Para mensurar a qualidade das práticas de governança foi utilizado o Corporate Governance Index – CGI desenvolvido por Leal e Carvalhal-da-Silva (2007) para avaliar as práticas de governança em empresas brasileiras. O índice é composto de 24 questões binárias, e considera-se uma evolução nas práticas quanto mais o índice da empresa se aproxima dos 24 pontos. O índice foi calculado ano a ano para o período e empresas estudadas. Em seguida, o índice foi dividido em duas partes, questões diretamente relacionadas a leis e regulamentações e questões não diretamente relacionadas a leis e regulamentações. Utilizando os testes estatísticos T-student e W de Kendall, comprovou-se estatisticamente que houve evolução nas práticas de governança corporativa entre os anos de 2005 a 2012, entretanto, prova-se estatisticamente que esta melhora está concentrada no período de 2005 a 2008, sendo que não foi constatada uma alteração significativa nas práticas no período de 2009 a 2012. Identificou-se também que houve uma evolução positiva nas práticas de governança não diretamente relacionadas a leis e regulamentações entre os anos de 2005 a 2012, entretanto, quando retira-se deste teste as questões que foram indiretamente impactadas por mudanças nas instruções da CVM que ocorreram no período, encontra-se uma piora nas práticas de governança entre 2005 e 2012. Estes resultados sugerem que as empresas estão trabalhando em um movimento de 'check the box' das boas práticas de governança, cumprindo o que é mandatório por lei e regulamentações, e questiona se as evoluções de leis, regulamentações e códigos de boas práticas de governança corporativa no Brasil estão cumprindo o seu objetivo final de desenvolver uma cultura de boa governança nas empresas brasileiras.
The objective of the study is to analyze the evolution of corporate governance practices between 2005 and 2012 of Brazilian companies that went public between the years 2005 and 2012, if the positive evolution happens. This study also tries to understand if this evolution happened just in the first years after the IPO or during the whole period, and if the evolution is limited to minimum mandatory requirements imposed by regulation or reflects a real behavioral transformation. The developed Corporate Governance Index – CGI, (Leal and Carvalhal-da-Silva, 2007) to evaluate the corporate governance practices in Brazilian companies was used to measure the corporate governance practices. The index is composed by 24 binary questions, and the highest is the sum better is its practices. The index were calculated year by year for the studied period to all the companies. After this, the questions, which compose the index, were divided into two blocks, such as questions direct related to laws and regulations, and the non directly related ones. The evolution in corporate governance practices was proved to be statistically significant between the years 2005 and 2012, using Student´s t and Kendall´s W statistical method, however, this evolution occurred between the years 2005 and 2008, but there is no statistically significant evolution between the years 2009 and 2012. There was also a positive movement in the corporate governance practices non directly related to laws and regulations between the years 2005 and 2012, however, a negative evolution is found when the undirected impacted through changes in CVM´s instructions questions were not considerated. The present results suggest the evolution in corporate governance practices appears to be the result of a box-checking exercise of mandatory fields, and suggest a lack of behavioral change in corporate leaders; questioning the main objective of laws, regulations and codes which is the development of a good practice corporate governance culture.
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Torpey, John F. "The Influence of Regulatory Oversight on Environmental, Social, and Governance Ratings." Franklin University / OhioLINK, 2020. http://rave.ohiolink.edu/etdc/view?acc_num=frank1586421855928535.
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Ribeiro, Victor Bourroul Holloway Ribeiro. "A regulação descentralizada da governança corporativa: uma análise da criação dos segmentos de listagem do mercado organizado de valores mobiliários administrado pela Bovespa." reponame:Repositório Institucional do FGV, 2015. http://hdl.handle.net/10438/13695.
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The goal of this research is to analyze in a decentered regulation perspective the creation of Brazilian premium Corporate Governance segments. The goal of analyzing the creation of Brazilian premium Corporate Governance segments includes the description of the phenomenon by recognizing factors that led companies to change their behavior and the prescription of a normative argument formulated from the recognition of those factors. In the Corporate Governance literature, regulation is usually defined as a state-centered conception. Researches about premium Corporate Governance segments (Novo Mercado, Level 1 and Level 2) created by São Paulo Stock Exchange – Bovespa often adopt the state-centered definition of regulation. As opposed to a mandatory state regulation, these premium segments were classified as a private and self-regulatory phenomenon, conducted by the market. This analysis was followed by a normative argument that prescripts contractual or self-regulatory arrangements for policy makers with intention to promote specific Corporate Governance rules. However, the assumption of a state-centered regulation was contested by a decentered perspective. The decentered perspective argued that not only states are increasingly involved in complex collaborations and delegations with non-state actors to exercise regulation, but also non-states actors are regulating, setting standards, gathering information and enforcing rules. To handle those complex regulatory events, Julia Black formulated the concept of decentralized regulation, which was grounded on systems theory and the governance literature. Regulation in a decentering perspective is implemented by a network of interdependent state and non-state actors. Embracing Julia Black’s concept of decentralized regulation, the present research describes the creation of Brazilian premium Corporate Governance segments and formulates a normative argument deriving from the decentered perspective. Based on the results, the research concludes that the creation of Brazilian premium Corporate Governance segments did not involve just the parties of the Participation Agreement. Instead, it involved many interdependent state and non-state actors, which shared many mechanisms for the application of the regulation. Therefore, it is not possible to indicate the self-regulation and private legal instruments as the only factors that led companies and shareholders to alter their behavior and to adopt specific Corporate Governance rules. Accordingly, the normative argument that follows this analysis, rather than the prescription of self-regulation, is the prescription of the mobilization of the regulatory power fragmented among many state and non-state actors.
O presente trabalho tem como objetivo analisar pela perspectiva da regulação descentralizada a criação dos segmentos de listagem do mercado de valores mobiliários administrado pela Bovespa. O objetivo de analisar a criação dos segmentos de listagem inclui a descrição do fenômeno para apontar fatores que levaram as companhias e controladores a alterarem seus comportamentos e a construção de um argumento normativo formulado a partir do reconhecimento desses fatores. No debate sobre regulação da Governança Corporativa, o conceito de regulação normalmente assume uma definição centrada no Estado. Grande parte da análise da criação dos segmentos de listagem do mercado administrado pela Bovespa seguiu essa perspectiva. A criação dos segmentos de listagem, então, foi classificada como um fenômeno autorregulatório, privado e de mercado. Dessa análise seguiu a formulação de um argumento normativo, o qual prescreveu o uso da autorregulação a atores que visassem estabelecer regras específicas de Governança Corporativa. Contudo, a perspectiva da regulação descentralizada questionou o pressuposto da centralidade do Estado no conceito de regulação. A perspectiva da regulação descentralizada sustentou que não só atores estatais estão cada vez mais envolvidos com atores não estatais em complexas colaborações e delegações para o exercício da regulação, como também sustentou que atores não estatais exercem regulação, incluindo, a formulação, monitoramento e enforcement de regras. Para lidar com essa complexidade dos fenômenos empíricos regulatórios, Julia Black, baseando-se na teoria dos sistemas e na literatura de Governança, formulou o conceito de regulação descentralizada. Pelo conceito de regulação descentralizada, a regulação é exercida por uma rede de atores interdependentes, estatais e não estatais, que utilizam mecanismos legais e extralegais para o exercício do poder e do controle. Diante disso, adotando esse conceito de regulação descentralizada de Julia Black, o presente trabalho pretendeu descrever a criação dos segmentos de listagem e formular um argumento normativo baseado nessa descrição. Como resultado da pesquisa realizada, foi possível concluir que a criação dos segmentos de listagem não se restringiu às partes que celebraram o Contrato de Participação, mas envolveu diversos atores, estatais e não estatais, os quais tinham uma relação de interdependência entre si e compartilharam diversos mecanismos no exercício da regulação. Com isso, não se pode resumir os fatores que fizeram com que companhias e controladores alterassem seus comportamentos e adotassem algumas regras de Governança Corporativa à voluntariedade e ao aspecto autorregulatório. Desta análise segue que, se é possível apontar para um argumento normativo do caso da criação dos segmentos de listagem, o argumento normativo não é a prescrição da autorregulação, mas sim a prescrição do uso do poder regulatório fragmentado entre diversos atores, estatais e não estatais.