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Hantsovskyi, Oleksii. "Analysis of the concept of corporate social responsibility and its relationship with management culture." Visnik Zaporiz'kogo nacional'nogo universitetu. Ekonomicni nauki 2, no. 42 (2019): 119–23. http://dx.doi.org/10.26661/2414-0287-2019-2-42-22.
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Neemey, Pooja, and Namita Sahay. "Indian Corporate Bond Market: An Analysis of Growth and Impact of Macroeconomic Determinants." Vision: The Journal of Business Perspective 23, no. 3 (July 24, 2019): 244–54. http://dx.doi.org/10.1177/0972262919850925.
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Robust, deep and vibrant corporate bond markets are necessary to increase financial system stability of a nation, help the needs of credit and mitigate financial crises of corporate sector that is important for the economic growth. The present article focuses on Indian corporate bond market growth and its impact on some select monetary, fiscal and economic variables as this creates advantages for investors, corporates and governments from 2006–2007 to 2016–2017. The study used the secondary data collection method with the help of monetary, fiscal and economic variables as independent variables and yield rate as dependent variables. From the analysis, it was identified that a complete corporate bond market is associated with economic, monetary and fiscal variables neither negatively nor positively nor at a significant rate. The result of the analysis concludes that among all the selected variables, GDP in percentage is considered as the chief variable that is predominantly mandatory for India because it is commencing its bond market with the foreign participants.
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Mamedov, Dgavanshir, Gulnara Genjeliyeva, Sabina Aliyeva, and Banovsha Valiyeva. "Creating corporative network for management of higher educational institution and its technopark." Vestnik of Astrakhan State Technical University. Series: Management, computer science and informatics 2020, no. 3 (July 31, 2020): 7–14. http://dx.doi.org/10.24143/2072-9502-2020-3-7-14.
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The article presents the analysis of the principles of a higher educational institution effective management and its technopark and provides the solution of organizing corporate governance within the local network of educational departments of Sumgait State University (SSU)
and a scientific - research center and the manufacture module. On the basic of the hierarchical structure of SSU and its technopark, an IP-addressing scheme was offered to organize a corporate network between SSU faculties and a scientific research center with automated workplaces
of a flexible manufacture module. The number of junctions and the percent values of a corporate network for the departments of faculties, scientific and manufacture parts of technology parks are determined and presented as a table. The number of points of educational and technopark sections of SSU have been calculated. For junctions in the corporate local network of management and training faculties of SSU there were used C-class IP addresses on 192.168.1.0–192.168.1.44. There has been worked out the algorithm for defining the number of junctions of SSU and technopark sections providing effective managing of their corporative network.
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Freire, Cesar, Felix Carrera, Paola Auquilla, and Gabriela Hurtado. "Independence of corporate governance and its relation to financial performance." Problems and Perspectives in Management 18, no. 3 (September 1, 2020): 150–59. http://dx.doi.org/10.21511/ppm.18(3).2020.13.
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Most studies in the area of corporate governance measure certain characteristics and the effects on financial performance; however, other authors only focus on profitability and do not analyze financial performance in all its dimensions; this is relevant because in some situations the government corporate governance can influence performance measured by liquidity, solvency or activity. The aim of the study is to relate the independence of corporate governance and the financial performance of non-listed companies using econometric techniques. This process was carried out by collecting primary information for the independent variable and secondary data for the dependent variable; the independence of corporate governance was measured by applying a confirmatory factor analysis to data collected through a survey, while the financial performance was measured through average Z factors created for liquidity, solvency, profitability and activity indicators. As a result, it was found that the independence of corporate governance influenced financial performance, but this relationship was statistically significant only with solvency and activity variables. As a result, it can be seen that there is a direct relationship between corporate governance independence and financial performance, in such a way that if the perception of board independence increases, financial performance can increase positively. Acknowledgments An acknowledgment to department SINDE from University Catholique Santiago of Guayaquil, who helped with the necessary resources to conduct this research.
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Pei, Hui Ning, Sui Huai Yu, and Bao Zhen Tian. "Analysis of Apple’s Design Management Policy." Applied Mechanics and Materials 496-500 (January 2014): 2626–29. http://dx.doi.org/10.4028/www.scientific.net/amm.496-500.2626.
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Apple Inc. is a famous American multinational corporation. It has unique corporate culture and design management policy. Apple creates iPod and iTunes, Mac laptop and desktop computers, and the revolutionary iPhone and iPad. In 2007, Apple achieved widespread success with its iPhone, iPod Touch and iPad products which are popular worldwide and sought after by a great number of consumers around the world. Author holds that Apples successful corporate culture and design management policy are the success reasons. Therefore, this paper attempts to extract the successful experience of Apple's design management through in-depth summary and analysis.
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Nazier, Mostafa Medhat, Dr Ayman Khedr, and Assoc Prof Mohamed Haggag. "Business Intelligence and its role to enhance Corporate Performance Management." INTERNATIONAL JOURNAL OF MANAGEMENT & INFORMATION TECHNOLOGY 3, no. 3 (January 23, 2013): 08–15. http://dx.doi.org/10.24297/ijmit.v3i3.1745.
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As every small or large organization requires information to promote their business by forecasting the future trends, information is now the primary tool to understand the market trends and understand their own position in the market comparison to its competitors. Business intelligence is the use of an organizations disparate data to provide meaningful information and analyses to employees, customers, suppliers, and partners for more efficient and effective decision-making. BI applications include the activities of decision support systems, query and reporting, online analytical processing (OLAP), data warehouse (DW), statistical analysis, forecasting, and data mining.
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Grove, Hugh, and Milan Čupić. "ICN pharmaceuticals: corporate governance analysis." Corporate Ownership and Control 7, no. 4 (2010): 73–89. http://dx.doi.org/10.22495/cocv7i4p6.
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ICN Pharmaceuticals, Inc. (today Valeant Pharmaceuticals International) was a drug developer and manufacturer, known in the medical field for its development of Ribavirin, an antiviral compound used to treat various viral infections. However, ICN will probably be remembered mostly as an example of problematic and inefficient corporate governance. Changes in the management structure of ICN occurred almost at the same time when corporations, like Enron, WorldCom, Tyco, were dealing with financial scandals caused by problems in corporate governance. Since ICN was not a powerful corporation and found a way to deal with its problems, it was not subject of any big financial scandal. Nevertheless, it is interesting how ICN managed to operate, in some years even successfully, with so many corporate governance problems and how Milan Panic managed to stay at the top of ICN for 42 years, in spite of his numerous expensive law suits, scandals and bad decisions.
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Rudolf, Stanislaw. "Opportunism in Corporate Management." Acta Universitatis Lodziensis. Folia Oeconomica 6, no. 345 (December 30, 2019): 75–91. http://dx.doi.org/10.18778/0208-6018.345.04.
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A growing interest in the phenomenon of economic opportunism can be mainly explained by new institutional economics (NIE). It has changed the limitation of that phenomenon into the main method of increasing the efficiency of business entities. Opportunistic attitudes and behaviour can be particularly observed in a business entity. A tendency towards opportunism should be considered both while entering contracts and while developing a strategy for a company. The article is aimed at presenting the essence of opportunism and at defining its place in new institutional economics.
It is also aimed at identifying opportunistic attitudes in corporate operation and at indicating the ways to limit such attitudes.
While analysing the role of opportunism in corporate management, the main focus shall be set on opportunistic interdependencies in corporate governance. Opportunistic attitudes may be presented not only by the management board of a company but also by its other stakeholders. They may use incompleteness of agreements that have been entered into or asymmetry of information in order to increase their gain at the expense of others. The article provides a more detailed analysis of opportunistic attitudes presented by employee organisations in highly developed countries as well as in post‑communist countries, where opportunism is manifested in demanding attitudes or in protection of monopolist positions.
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Davies, Alan, Elwyn John, and Andrew Thomas. "Corporate strategy development via numerical situation analysis." Benchmarking: An International Journal 21, no. 4 (July 1, 2014): 619–33. http://dx.doi.org/10.1108/bij-05-2012-0033.
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Purpose – Using the numerical situation analysis (NSA) technique in the development of corporate strategy provides senior managers with a suitable methodology for the creation of alternative strategic options. Subsequently, it may be used to evaluate those options for possible selection and implementation by the company concerned. In addition, the technique provides a graphic temporal point description of an organisation's strategic situation. Consequently, the aim of this paper is to outline the technique of NSA via a hypothetical example and thereby illustrate its use in practice. Design/methodology/approach – By using a paradigm approach, the paper indicates the correct application of the NSA technique as a means of defining and evaluating alternative strategic options within a manufacturing company. As proposed, the methodology also permits several graphic illustrations of the strategic situation to be drawn, along with a scheme for monitoring the effectiveness of an adopted strategy. Findings – The evolution of the suggested NSA technique and its application to the formulation of strategic options for a manufacturing company are outlined in the paper. In practice, its application in four differing industries has resulted in some caveats regarding its use, and to some provisional conclusions being drawn in respect of its usefulness to senior management. These are recorded in the concluding section of the paper. Research limitations/implications – The design, development and application of NSA proposed in this paper together with the experience of its implementation and use, in practice, highlight a potentially useful extension to existing methods of strategy formulation. The methodology offers senior management a technique, whereby alternative strategic options may be defined and evaluated for possible adoption along with diagrammatic illustrations of an organisation's strategic situation. In addition, the approach allows a selected strategy to be monitored over time for effectiveness, thus providing an early warning mechanism in respect of strategic inutility. Originality/value – The paper contributes to the existing knowledge based on strategy development, evaluation and selection. It also provides a mechanism for monitoring a selected strategy for effectiveness over time and a structured framework for senior management to undertake the strategic planning process. It may when used in practice achieve an improved level of strategic understanding on the part of senior management and thereby stimulate improved corporate performance.
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Liu, Yuxuan. "Analysis on Corporate Financial Engineering and Financial Management Innovation." Financial Forum 9, no. 3 (September 10, 2020): 141. http://dx.doi.org/10.18282/ff.v9i3.1085.
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Corporate financial engineering refers to the use of advanced mathematical and communication techniques to solve financial problems for the maximization of company’s own interests. The techniques are used for innovative designs regarding financial tools and means, and also for devising and implementing financial products. As for corporate financial management, it is the basic guarantee for operating a company. For both the company and its internal and external activities, the support from financial management is inseparable. Financial management is an important link to balance the benefits and costs generated in the process of corporate operation. This article analyzes and explores the effects of the application of financial engineering in financial management.
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Möslein, Florian. "Towards an organisational law of the polycorporate enterprise? A comparative analysis." Corporate Ownership and Control 3, no. 2 (2006): 174–90. http://dx.doi.org/10.22495/cocv3i2c1p3.
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One key element in improving economic efficiency is corporate governance which involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. If countries are to reap the full benefits of the global capital market, and if they are to attract long-term ‘patient’ capital, corporate governance arrangements must be credible and well understood across borders. One aspect of the relationship between the company’s management and its shareholders is far from being well understood: How is this relationship affected if the single company is transformed into a parent company of a corporate group? In Germany, this topic has attracted the most vivid legal interest for some decades, but it is not even considered in other countries - neither in the context of corporate governance nor in the one of corporate groups. One reason might be that provisions concerning corporate groups are not perceived as a distinct body of law in most of these countries
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Sungatullina, L. B., and Yu I. Chupova. "The use of the scenario analysis to assess and prevent possible corporate bankruptcy." International Accounting 23, no. 4 (April 15, 2020): 395–413. http://dx.doi.org/10.24891/ia.23.4.395.
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Subject. The article discusses methodological aspects of the scenario-based forecasts. Studying the future corporate standing through its economic assessment, we will be able to outline a set of actions the management may take to alleviate adverse effects, enhance the performance of an entity and prevent its bankruptcy. Objectives. We study how predictive scenarios are made through the economic assessment so as to leverage the financial and operating activity and prevent possible corporate insolvency. Methods. We employed general methods of research, such as analysis and synthesis, induction and deduction, and specific methods of economic studies, such as generalization and grouping, logic and systems approaches, econometric models. Results. Approaching the predictive management analysis of corporate operations in line with its technological distinctions, we can forecast the corporate development scenario, which will lay the basis for managerial decisions to reduce the bankruptcy risk. Conclusions and Relevance. Having examined previous proceedings and modern trends in management analysis, I concluded that the predictive corporate analysis should develop so that scenario-based forecasts could be feasible, including technological aspects of the entity. Management analysis data shall underlie reasonable decisions for avoiding adverse consequences for corporate economics. The findings can be used in corporate governance when analyzing and outlining corporate development paths.
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Escobar-Sierra, Manuela, Luis Augusto Lara-Valencia, and Pilar Valencia-DeLara. "Model for innovation management by companies based on corporate entrepreneurship." Problems and Perspectives in Management 15, no. 3 (November 8, 2017): 234–41. http://dx.doi.org/10.21511/ppm.15(3-1).2017.07.
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This paper aims to propose a new model for the manner in which companies manage innovation. To that end, some of the most important research on the topic is analyzed and summarized through a review of its historical background in the indexed databases in WoS (Web of Science) and an analysis of frequently used terms over the past 15 years (2001–2016). The analysis is developed through bibliometric techniques using VOSviewer software, version 1.6.4, seeking to identify recurring and related concepts, such as corporate entrepreneurship, that can leverage company innovation management from the strategy, inherent factors related to human resources and the environment in which the organization operates. Henceforth, this paper focuses on a new model to manage innovation in companies through a conceptualization of innovation and corporate entrepreneurship, this model can be useful in countries with low levels of cooperation between stakeholders and scarce resources, countries on bias of development like Latin America, Africa and some Asian countries. It can be concluded that the company innovation should start with the definition of its strategy, taking into account factors like the human talent and the environment in which the organization is operating, through customized innovation processes that can be applied following some of the multiple models referred to in the literature, framed within the needs of different stakeholders, as indicators of organizational performance. Therefore, the actors which are part of the model are: employees, clients, state, suppliers, academics, community, shareholders and business.
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Temirbayev, Abzal, and Alikhan Abakanov. "Changes in corporate governance in Kazakhstan and its impact on financial market growth: an empirical analysis (1991-2017)." Corporate Governance: The International Journal of Business in Society 19, no. 5 (October 7, 2019): 923–44. http://dx.doi.org/10.1108/cg-07-2018-0238.
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Purpose Since its independence, Kazakhstan has been improving its corporate governance system according to recommendations of international organizations. It was promised that the adoption of shareholder primacy approach would have a positive impact on its financial market growth. Therefore, the purpose of this paper is to quantitatively analyse whether Kazakhstani corporate governance is moving towards a shareholder primacy corporate governance approach and its impact on financial market growth. Design/methodology/approach The paper will conduct a quantitative analysis. Firstly, the changes in corporate governance that occurred between 1991 and 2017 will be analysed using 52 corporate governance variables. Thus, a questionnaire will be used to collect data. When the questionnaire is completed, all data will be converted into numbers. Then, multiple liner regression will be used to estimate the impact of change in corporate governance. Findings The paper finds that Kazakhstan is successfully adopting shareholder-friendly corporate governance standards and so-called convergence has also occurred. Moreover, it is suggested that reforms in Kazakhstani corporate governance system have not yet brought the desired result of prosperous financial market and high flows of foreign investments. Originality/value Analysis specifically considers the changes in Kazakhstani corporate governance system and uses quantitative methods, whereas there is a lack (if not complete absence) of quantitative studies regarding Kazakhstani corporate governance.
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Rohrbeck, René, and Menes Etingue Kum. "Corporate foresight and its impact on firm performance: A longitudinal analysis." Technological Forecasting and Social Change 129 (April 2018): 105–16. http://dx.doi.org/10.1016/j.techfore.2017.12.013.
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Nadeyko, Mykola. "Comparative characteristics of analysis methods of the corporate social responsibility management." Socio-Economic Research Bulletin, no. 3-4(74-75) (October 27, 2020): 132–45. http://dx.doi.org/10.33987/vsed.3-4(74-75).2020.132-145.
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The purpose of the article is to form the theoretical foundations of the state (level) analysis of social responsibility for the enterprise management needs. The study used identification, systematization and analysis of the advantages and disadvantages of existing methods, which made it possible to identify methodological recommendations for improving of social responsibility process. It was characterized the state of assessing the social responsibility of national enterprises at the level of Ukrainian rating agencies over the past five years. Leading enterprises in the field of corporate social responsibility have been identified based on the results of national ratings. The existing methods of corporate social responsibility management analysis were analyzed. Their content and methods used in them are identified. The main factors for evaluation are summarized. The expediency of assessing the effectiveness of management by external and internal vectors of social responsibility is noted. The activities aimed at introducing an effective social responsibility management system are presented. For practical usage we have proposed the list of measures that will contribute to the implementation of an effective management system of social responsibility, increase its level and develop this process. As a result of the ratings analysis at the country level, the trends of changes occurring both in the social responsibility management system and in terms of covering information on its implementation are generalized. The conducted studies allow us to conclude that today there is no universal methodology for assessing the level of social responsibility. In this regard, the management of social responsibility of the enterprise was offered to use the advantages of various methods to form its own comprehensive methodology, taking into account management needs and target audience. Therefore, the social responsibility management of the enterprise was offered to use advantages of various methods to form its own comprehensive methodology, taking into account management needs and target audience.
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Fenyves, Veronika, and Tibor Tarnóczi. "Data envelopment analysis for measuring performance in a competitive market." Problems and Perspectives in Management 18, no. 1 (March 31, 2020): 315–25. http://dx.doi.org/10.21511/ppm.18(1).2020.27.
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In today’s increasingly competitive markets, it is essential to be able to determine the position of a company as opposed to its competitors. Today the traditional financial ratios are most widely used to measure corporate performance, but more and more authors begin to criticize their use. It is difficult to use financial ratios as a complex measurement tool. It is crucial to use an appropriate method or tool to measure corporate performance, which can measure the company’s performance in a complex way represented by one indicator. In this study, the Data Envelopment Analysis (DEA) method is used, which is one of the potential tools available. Several researchers have used the DEA method to measure corporate performance. Many authors consider DEA as a useful tool for measuring corporate performance, while others criticize it. The authors analyze the performance of retail food companies in Hungary’s Northern Great Plain region. The companies analyzed were chosen from the region investigated, and they have “food retail grocery store” as their main activity, and they had six cleared annual reports in the period 2012–2017. There was a total of 887 companies in the region examined, and 563 (63.5%) met the conditions. The analysis was made using the time-series data of companies for 2012–2017 based on their financial reports, and the authors dealt with various possibilities for extending DEA, which can support its more accurate use. Based on evaluating the retail food companies’ performance in the Northern Great Plain region, one can state that the efficiency of companies shows a very mixed picture over the years examined. The study suggests solutions to the indicated problem. The findings indicate that the application of extended DEA methods gives better results; that is, one can get better estimates of the efficiency of companies.
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Tsaruk, Vasyl. "COMPARATIVE ANALYSIS OF UNDERSTANDING TRANSPARENCY IN CORPORATE GOVERNANCE AND ACCOUNTING." Economic discourse, no. 4 (December 2019): 153–59. http://dx.doi.org/10.36742/2410-0919-2019-4-16.
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Introduction. Improving the corporate governance system in modern conditions presupposes ensuring its transparency, which will contribute to increasing the effectiveness of decisions made both by the management of corporate structures and by external stakeholders. It is necessary to determine the components of this category to ensure a high level of corporate transparency, which will form further ways to improve it, in particular, by developing a system of accounting and analytical support for corporate governance. Methods. The author uses dialectical and systematic approaches to study the features and differences of corporate governance and accounting systems; abstract and logical method – for theoretical generalizations and substantiation of ways of improving accounting for corporate needs of enterprises. Results. The absence of a common understanding of the concept of corporate transparency has been determined. Three main options for understanding the importance of transparency in corporate governance and accounting have been identified. The features of understanding of transparency in corporate governance in the context of the stakeholder approach have been revealed. The features of ensuring corporate transparency in the context of the existence of the problem of economic security and confidentiality of information have been highlighted. Information transparency in the corporate structure is defined as a system of relationships and interactions between its stakeholders, which is that the entities generating and disseminating information provide all other interested parties with the necessary information for the management decisions and their further implementation in the necessary form. Discussion. Research prospects consist in certain components of the concept of transparency in corporate governance, used by researchers to substantiate its essence (openness, understandability, quality). Keywords: corporate governance, transparency, accounting principles, quality characteristics of useful financial information.
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Kazbekova, L., K. Utegenova, D. Bekesheva, A. Akhmetova, and N. Kultanova. "APPROACHES TO THE ASSESSMNET OF CORPORATE MANAGEMENT EFFECTIVENESS." BULLETIN 3, no. 391 (June 12, 2021): 58–64. http://dx.doi.org/10.32014/2021.2518-1467.99.
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The present work describes the issues of evaluation of corporate management effictiveness in organizations. The research presents scientific and practical significance in solving the problem of instruments and methods selection for proper assessment of the corporate management effectiveness. Therefore, the necessity of its critical study and systematization is a topical task not only for the research community, but for practical workers – owners of companies and managers. The paper shows a review of the most spread methodical approaches to the assessment of corporate management effectiveness. These were analyzed in terms of managerial, economic, quantitative and qualitative methods. The advantages and disadvantages of every investigated group of methods are described, the decisive factors that could be used for choosing one approach or another to assessment of the corporative management effectiveness were determined. Along with this, it was revealed that in some cases the application of only one method is not enough due to the variety of tasks set by the companies. Following this point of view, the paper investigates the opportunities of combination of qualitative and quantitative methods of assessment of corporate management effectiveness by investigation and interpretation of the combined methods of assessment developed by other authors. The results of investigation allowed obtaining some private conclusions that provide recommendations on developing the models of assessment of corporate management effectiveness, particularly by the combined application of different methods and criteria of assessment. The practical relevance of the investigation results is in the opportunity of its application by companies while developing the Plans and Strategies of corporate development. The results of the conducted analysis of approaches to the assessment of the corporate management effectiveness will allow the managers to have systematized and scientifically justified information on investigation of factors and indicators influencing on the effectiveness of corporate management that will allow taking timely measures on risk management that can decrease the effective functioning of a company in whole.
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Mingione, Michela. "Inquiry into corporate brand alignment: a dialectical analysis and directions for future research." Journal of Product & Brand Management 24, no. 5 (August 17, 2015): 518–36. http://dx.doi.org/10.1108/jpbm-05-2014-0617.
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Purpose – The purpose of the study is to inquire into and to provide an integrated framework of academics’ and practitioners’ conversations on corporate brand alignment. Design/methodology/approach – A systematic literature review (with no time restrictions) was used to identify relevant journal publications from the years 2000 to 2013. Based on the retrieved articles, the Hegelian dialectic triad of “thesis, antithesis and synthesis” was used to inquire into conventional thinking on corporate brand management (i.e. through corporate brand alignment). Findings – The final sample of 59 articles brought to light a theory of corporate brand alignment, its recent contradictions and critiques and scholars’ attempts to unify them into an integrated framework. Three main perspectives emerged, suggesting that corporate brand could be managed through aligned (i.e. thesis), separated (i.e. antithesis) or mixed approaches (i.e. synthesis). Research limitations/implications – This research considers only English peer-reviewed journal articles retrieved from the EBSCO and WOS databases. Originality/value – This work proposes a contingency approach to corporate brand management, suggesting that there is no single best way of managing a corporate brand: aligned, separated and mixed approaches can be equally successful. Despite the choice of model (which arises from the analysis of the corporate brand meanings, stakeholders and contexts), three transversal corporate brand management imperatives emerged: the delivery of the corporate brand promise, the co-construction of corporate brand meanings and the recognition of the dynamic nature of corporate brands.
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Zhang, Chen, and Liting Gao. "The Impact of the Digital Economy on Corporate Taxation From the Perspective of Supply Chain." E3S Web of Conferences 275 (2021): 01067. http://dx.doi.org/10.1051/e3sconf/202127501067.
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Supply chain is the unification of modern information flow, capital flow and logistics. Corporate tax management is an important part of corporate financial management, and its management results will have a direct impact on corporate development. In the current environment of rapid social and economic development, taxation management has penetrated into the entire supply chain of an enterprise, and has played its due value to the business development of the enterprise. Based on the perspective of the supply chain, this article studies the impact of the digital economy on corporate taxation, focusing on the analysis of the problems in corporate taxation management, and puts forward relevant suggestions based on the analysis results for reference.
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Ferris, Stephen P., and Min-Yu (Stella) Liao. "Busy boards and corporate earnings management: an international analysis." Review of Accounting and Finance 18, no. 4 (November 11, 2019): 533–56. http://dx.doi.org/10.1108/raf-07-2017-0144.
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Purpose Because of our limited understanding of the incidence and effect of board busyness globally, the mixed evidence of the effect of board busyness obtained in the USA and the divergence of international patterns of director busyness from that observed in the USA, the author contends that there is a strong need to examine board busyness from a global perspective. The literature, however, does not examine the effect of board busyness on reported earnings quality and certainly does not analyze it internationally. Consequently, the purpose of this study is to examine the effect of multiple board appointments on the quality of a firm’s reported earnings. Design/methodology/approach The research design for this study is empirical. It uses both univariate and multivariate statistical analysis to examine historical corporate accounting, finance and governance data. Findings Consistent with the busyness hypothesis of corporate governance, the author finds that firms with a higher proportion of busy independent directors or busy CEOs manage their earnings more extensively. Further, the findings of this study present that firms with a higher proportion of busy independent audit committee members have poorer financial reporting quality. Using a sample of American Depository Receipts (ADRs), this study determines that the ineffectiveness of busy boards regarding earnings management is mitigated by the listing regulations imposed by US exchanges. Research limitations/implications The author believes that this study offers new and important evidence regarding the debate whether busy directors provide knowledge, skill and corporate connections, or whether they are overextended and, thus, unable to fully perform their monitoring duties. This study shows that firms with busy directors are associated with poorer financial reporting quality and, consistent with the busyness hypothesis, are less effective as managerial monitors. Practical implications This study provides useful guidance regarding board design and the kinds of policies that firms should adopt regarding multiple boarding. Social implications The social implications focus on the public policy implications regarding the importance of effective corporate governance in the reporting of financial wealth, wealth creation and wealth management. Originality/value This is the first study that examines the relation between board/committee busyness and corporate earnings management using a comprehensive set of international firms. Second, the author expands the analysis of audit committee into a new dimension: committee quality as captured by the busyness of its independent members. This study also contributes to the ongoing debate in the corporate finance literature regarding the reputation and busyness hypotheses of multiple directorships.
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Dogandžić, Sonja, and Anja Dogandžić. "Analysis of basic problems in the process of corporate governance management." Bizinfo Blace 12, no. 1 (2021): 53–63. http://dx.doi.org/10.5937/bizinfo2101053d.
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The management of the corporation directs its activities, above all, towards the realization of the goal, increasing the value of the company, while satisfying the interest of those who delegated them. In this process, it is evident that the interests of the managers themselves are not pushed into the background, on the contrary, the management of the corporation realizes them in parallel with the interests of the owners-shareholders. This understanding becomes to narrow a framework for presenting the basic problems that arise in the corporate governance average. It is necessary to take into account the interests of other interest groups that work in the corporation itself or perform some of the business activities with it. Therefore, corporate governance should be viewed as a system that is complex and dynamic in its structure and that adapts to the internal needs of the corporation but also to other stakeholders from the environment while providing the necessary continuity in work, growth and development.
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Cucari, Nicola. "Qualitative comparative analysis in corporate governance research: a systematic literature review of applications." Corporate Governance: The International Journal of Business in Society 19, no. 4 (August 5, 2019): 717–34. http://dx.doi.org/10.1108/cg-04-2018-0161.
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Purpose The purpose of this paper is to provide comprehensive mapping of qualitative comparative analysis (QCA) applications in business and management research and to examine the sub-fields of corporate governance research in this context. Design/methodology/approach Through a systematic literature review of 22 articles, the paper describes and analyses how QCA is used in the corporate governance field, what can be learned from the methodology’s implementation in corporate governance studies and why authors justify its use. Findings The findings highlight that QCA in corporate governance is still at an early stage of development. The paper encourages governance scholars to use this method to transform QCA from a niche into a mainstream method because it is appropriate for understanding both complex phenomena of social reality and issues of corporate governance that require an approach able to capture configurations of conditions, asymmetric patterns and equifinal explanations. Originality/value This is the first complete overview of the existing literature concerning QCA’s application in corporate governance research and reveals implications for its future use. In this way, it extends the previous work on QCA’s benefits to management researchers and other critical reviews of applications in QCA. This study encourages scholars to renew their understanding of corporate governance issues through a new analysis method that can help to discover conceptual and empirical relations among case-oriented and variable-oriented analyses in terms of interrelations to examine corporate governance practices holistically.
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Sisson, Diana C., and Shannon A. Bowen. "Reputation management and authenticity." Journal of Communication Management 21, no. 3 (August 7, 2017): 287–302. http://dx.doi.org/10.1108/jcom-06-2016-0043.
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Purpose Following a report released by the UK Parliament’s Public Accounts Committee, multinational corporations like Starbucks, Google, and Amazon found themselves in a firestorm of criticism for not paying or paying minimal taxes after earning significant profits in the UK for the past three years. Allegations of tax evasion led to a serious crisis for Starbucks in the UK, which played out in a public forum via social media. The researchers explored whether Starbucks’ corporate ethics insulated its reputation from negative media coverage of alleged tax evasion evidenced in its “hijacked” social media “#spreadthecheer” campaign. The paper aims to discuss these issues. Design/methodology/approach Using an exploratory case study analysis of news articles, Starbucks’ annual reports, #spreadthecheer Tweets, and David Michelli’s The Starbucks Experience, data collection helped to inform the discussion of authenticity and whether it helped to insulate Starbucks’ reputation during its crisis in the UK. Findings Authenticity is key when organizations face a turbulent environment and active publics and stakeholder groups. Findings from this study also suggested proactive reputation management strategies and tactics, grounded in the organization’s corporate culture and transparency, could have diffused some of the uproar from its key publics. Originality/value Authentic corporate cultures should align with corporate business practices in order to reduce the potential for crises to occur. It is possible that ethical core values and a strong organizational approach to ethics help to insulate its reputation among publics during a crisis.
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Chen, Ding, Navajyoti Samanta, and James Hughes. "Does regulation matter? Changes in corporate governance in China and its impact on financial market growth: an empirical analysis (1995-2014)." Corporate Governance: The International Journal of Business in Society 19, no. 5 (October 7, 2019): 985–98. http://dx.doi.org/10.1108/cg-07-2018-0256.
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Purpose Over the past two decades, China’s stock market has experienced rapid growth. This period has seen the transplantation of many “OECD principles of corporate governance” into the Chinese corporate regulatory framework. These regulations are dominated by shareholder values. This paper aims to discover whether there is a causal relationship between the changes in China’s corporate governance and financial market growth. Design/methodology/approach This paper uses data from 1995-2014 to create a robust corporate index by looking at 52 variables and a financial index out of five financial market parameters. Subsequently, data are subject to a panel regression analysis, with the financial market index as the outcome variable, corporate governance index explanatory variable and a variety of economics, social and technological control variables. Findings This paper concludes that changes in corporate regulation have in fact had no statistically significant impact on China’s financial market growth, which must therefore be attributed to other factors. Originality/value The study is the first in the context of Chinese corporate governance impact studies to use Bayesian methodology to analyse a panel dataset. It uses OECD principles as the anchor to provide a clear picture of evolution of corporate governance for a 20-year period which is also longer than previous studies.
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IŞIK, Özlem. "CORPORATE IDENTITY BUILDING OF UNIVERSITIES IN THE CONTEXT OF ORGANIZATIONAL COMMUNICATION: AN ANALYSIS ON UNIVERSITY WEBSITES." TURKISH ONLINE JOURNAL OF DESIGN ART AND COMMUNICATION 11, no. 2 (April 1, 2021): 659–86. http://dx.doi.org/10.7456/11102100/021.
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Corporate websites are one of the most effective tools for the organization to communicate with its target audience. In addition to being effective communication tools, corporate websites also support corporate communications and help the formation of corporate identity. Corporate identity is a completely planned process in which the character of the corporation is expressed. Determining the extent of the usage of these tools and applications in the websites of corporates is important in terms of presenting the current situation and making predictions for the future. Universities use web sites to communicate effectively, efficiently and quickly with their internal and external stakeholders and hence make use of websites as promotional tools. In this study, the websites of the universities ranked top ten according to URAP 2020- 2021 (University Ranking by Academic Performance) have been analyzed with content analysis method in the context of cultural identity dimensions. Study results have shown that, applications about corporate communications and its tools and the visual elements of corporate identity take place in all of the corporate websites; the websites are tried to be made interesting, especially with animated images; the elements about corporate culture take place in faculty home pages; the elements about corporate behavior is featured with the purpose of information after alteration or activity; the senior management staff are featured more on the component of corporate structure and the industry identity components of universities have similar programs hence it can be said that they gain industry identity. For future studies, conducting a comparative analysis on private and public universities and a comparative analysis on the context of different themes of the websites of the universities in our country and the universities operating abroad can be presented as suggestions.
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Onamson, Friday Okafor. "Devolution of corporate managerial powers: A critical analysis." Corporate Board role duties and composition 11, no. 3 (2015): 66–83. http://dx.doi.org/10.22495/cbv11i3art6.
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Generally, corporate managerial powers which, among others, entail powers to manage the company as a going concern, to exercise good faith and to act within powers are devolved to the corporate management. The corporate board may be negatively or positively active in the exercise of its powers. For third parties, the law made adequate protection for third parties which shield them from harm of agency problems. But the same cannot be said of the company. In certain cases where the board is positively active, this may unwittingly result in Longe Effect. Where the company suffers due to managerial slack it is the minority that bears the brunt. The enlightened shareholder value precept, albeit still evolving, can address these risks
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Mohamad, Bahtiar, Bang Nguyen, TC Melewar, and Rossella Gambetti. "The dimensionality of corporate communication management (CCM)." Bottom Line 32, no. 1 (March 11, 2019): 71–97. http://dx.doi.org/10.1108/bl-12-2018-0052.
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Purpose This paper aims to investigate the conceptualisation of corporate communication management (CCM) and its dimensionality from the practitioners’ perspectives. It proposes to validate an operational definition and dimensions of the CCM construct, which have not been identified in the literature. Design/methodology/approach The initial concepts are based on academic literature and followed by 12 face-to-face interviews with corporate communication practitioners and consultants from Malaysia to confirm the practicality of each dimension. QSR Nvivo Version 9.0 software is used to analyse the qualitative data. Then, the data are classified through deductive content analysis based on key words or themes. Findings The diverse perspectives are shown from the practitioners and consultants on the dimensionality of CCM. Most of the interviewees suggest that CCM dimensions include corporate advertising, corporate affairs, investor relations and employee communication within the corporate communication and other departments. They also found the public relations and media relations are clearly under corporate communications manager’s supervision. This research confirms the concept of CCM and its dimensionality to operationalise the CCM construct. The CCM dimensions also offer opportunities for further research to develop the measurement scales. Originality/value This research contributes to the clarification on the subject matter by developing clear concepts of the CCM and by offering insights about the role of the CCM dimensions, which help managers to more successfully incorporate the CCM dimension into the corporate management strategy. This paper also examines the concept of CCM and confirms its dimensionality, which helps in developing the CCM measurement for further quantitative research.
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Tarigan, Josua, Saarce Elsye Hatane, Linneke Stacia, and Deborah Christine Widjaja. "Corporate social responsibility policies and value creation: does corporate governance and profitability mediate that relationship?" Investment Management and Financial Innovations 16, no. 2 (June 20, 2019): 270–80. http://dx.doi.org/10.21511/imfi.16(2).2019.23.
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With a purpose to give a deep understanding relating to the manifestation of social responsibilities practices among Indonesian companies, this paper reflects the relationship of corporate social responsibility (CSR), corporate profitability (CP), value creation (VC) and good corporate governance (GCG). Kinder, Lydenberg, and Domini’s (KLD) measurement approach is used in this study to measure the social responsibility practices, as this gives cross-border analysis of social responsibility. Corporate profitability captures return on assets, which is accounting-based measurement, whereas value creation explains the economic value added, which is shareholder-based measurement. Structural Equation Model (SEM) analysis is conducted for Indonesian listed companies, which appeared in Corporate Governance Perception Index (CGPI). The empirical result suggests that CSR serves as a tool in assisting shareholders value and performance. Accordingly, firms should incorporate CSR practices to enhance its strategic investment and sustain a strong relationship with its stakeholders. Subsequently, management should also take concern of having good corporate governance in order to improve company’s performance by supervising and monitoring of the company’s operation, ensure the fulfillment to the stakeholder’s interest. This paper presents fresh insights into applications of corporate social responsibility principles and corporate governance in Indonesian context that has not received systematic attention and consideration in the literature.
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Khandwalla, Pradip N., and Kandarp Mehta. "Design of Corporate Creativity." Vikalpa: The Journal for Decision Makers 29, no. 1 (January 2004): 13–28. http://dx.doi.org/10.1177/0256090920040102.
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Globalization has created immense competitive pressures on corporates. In order to survive and prosper, organizations in the Third World need to redesign themselves for corporate creativity, i.e., for high rates of sustained and successful technological as well as non-technological innovations. This paper provides several examples of how deregulation of the West's airlines industry in the decade of the 1980s stimulated its corporate creativity. It then reviews the literature on the organizational design for corporate creativity to derive a model of the corporate's organizational design requirements for copious and successful innovations. The model proposes that, for superior corporate creativity in a regime of intensifying environmental pressures, the organization needs to choose the following: i) innovation-friendly business strategies; ii) organizational structure; iii) top management style; iv) middle management practices; and v) effective modes of managing innovations. These choices would lead to innovational success, which, in turn, would confer competitive excellence on the organization. This paper reports a test of the model through questionnaire-based data on 65 Indian corporates collected from late 1999 to early 2003. Data were gathered from an average of five top and senior level executives from each corporate on 6-point scales, and each scale was anchored by a statement at each extreme. All the responses from each organization were averaged for each rated scale and converted into a percentage score for the organization. The scales were grouped for aggregation into: i) environmental pressure; ii) innovations-supportive strategic management; iii) innovations-supportive top management style; iv) innovations-supportive organizational structure; v) innovations- supportive managerial practices and culture; vi) effective management of innovations; vii) corporate innovational success; and viii) corporate competitive excellence. The data were secured for the situation ‘now’ and three years earlier and this enabled the computing of changes in each study variable. The data indicated that change in effective mangement of innovations was the strongest predictor of change in innovational success which, in turn, was the greatest predictor of change in competitive corporate excellence. In order to identify the major strategic choices in the face of high versus low environmental pressure, cluster analysis was performed on the data from the 30 highest scoring corporates on environmental pressure and the 30 lowest scoring corporates on environmental pressure. It revealed that, regardless of environmental pressure, organizations that chose to adopt an organizational design compatible with high corporate creativity outscored those organizations that did not choose such a design in terms of both innovational success and competitive excellence. The data also indicated that organizational design for corporate creativity may yield far better performance when change in environmental pressure is modest than when it is large. The reason may lie in differential rates of the diffusion of innovations in high versus low pressure environments. High pressure environments may induce a more rapid diffusion of innovations. The faster the institution-alization of innovations in an industry, the lower, or less durable, may be the competitive advantage conferred on the innovating organization. This paper strongly recommends the following: Managers should redesign their organizations for higher corporate creativity. The core curriculum of MBA programmes needs to incorporate values, competencies, and management concepts that can nurture organizational creativity. Specifically, this paper provides suggestions to practising managers for enhancing corporate creativity which are as follows: Conduct a diagnosis of the design of your organization and identify the items where the gaps with the model are large. Form a cross-functional team to tackle each major gap area. Review the recommendations of the team and identify action points for implementation. Institutionalize a culture of brainstorming for novel and effective solutions and a number of specific innovation-friendly practices.
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Doucek, Petr. "Corporate reporting and corporate informatics." New Trends and Issues Proceedings on Humanities and Social Sciences 4, no. 10 (January 15, 2018): 459–67. http://dx.doi.org/10.18844/prosoc.v4i10.3117.
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More and more information in business reality evokes necessity to aggregate it into various messages and reports for supporting managerial activities. This paper aimed to provide basic information about corporate reporting and its significance for business, management and also for corporate business informatics management. There is specified what are reporting, reporting activities, processes and report in this contribution. Further are proposed different groups of business reports, managerial levels of reporting and relations of reporting processes to business intelligence. This contribution also presents the most important trends in the area of reporting, and it provides analyses of them. The most important part of the paper is the description of processes which should be followed when designers are preparing new reports. Contribution analyses the content of new designed reports for western corporate culture, and authors are mentioning the most important faults during designing of new reports and new reporting templates. Keywords: Reporting, business informatics, company, principles, history
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Kordoš, Marcel, and Jozef Habánik. "Corporate culture interplay issues in global economy." Problems and Perspectives in Management 16, no. 3 (August 17, 2018): 302–10. http://dx.doi.org/10.21511/ppm.16(3).2018.24.
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The topic of this paper is the comparative analysis assessment of American and European (Slovak) systems of corporate culture describing the cultural differences within transnational companies. The study is comparing the American system of corporate culture with Slovak corporate culture model. The goal of this paper is to figure out the real model of an American enterprise within its interaction with European (Slovak) enterprise and detect the differences between them. Based on the SWOT analysis coming out of two surveys via questionnaires outputs, the comparative analysis assessment dealing with the successful symbiosis of foreign American company operating within the European (Slovak) enterprise environment will be worked out. The paper reveals the similarities and differences between the Slovak and U.S. corporate culture standards such as conflict avoidance, focus on relationships, self-confidence of comparing cultures, personal responsibility, one’s own initiative and autonomy and so on.
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Kolahgar, Sam, Azadeh Babaghaderi, and Harjeet S. Bhabra. "Corporate communication as a governance mechanism: A content analysis of corporate public disclosures." Corporate Ownership and Control 18, no. 3, special issue (2021): 438–68. http://dx.doi.org/10.22495/cocv18i3siart16.
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Corporate communication efforts have mainly been viewed as a by-product of governmental regulations and board of directors’ oversight. In this paper, we examine the role of corporate communication as a stand-alone governance mechanism. We introduce a new business-related dictionary and conduct automated textual analysis of over 150,000 electronic documents filed by a sample of firms listed on the S&P/TSX Composite Index from 1999 to the end of 2014. Our findings demonstrate the governing role of corporate communication by documenting the adverse market effects of deviations from the expected level of communication. Moreover, as a governance mechanism, corporate communication shows substitution/complementary relationships with other established governance mechanisms. In addition, we find a non-linear relationship between a firm’s communication efforts and its value and risk levels. Results are robust after controlling for major corporate events (M&A, spin-offs, financial distress and bankruptcy, and significant lawsuits). These findings contribute to corporate governance literature and the understanding of agency theory predictions of communications and disclosures’ economic effects
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Brown, Dalila, Pantea Foroudi, and Khalid Hafeez. "Marketing management capability: the construct and its dimensions." Qualitative Market Research: An International Journal 22, no. 5 (November 11, 2019): 609–37. http://dx.doi.org/10.1108/qmr-10-2017-0131.
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Purpose This paper aims to explore the relationship between corporate cultural/intangible assets and marketing capabilities by examining managers’ and entrepreneurs’ perceptions in a retail setting. Design/methodology/approach Nineteen face-to-face interviews were conducted with UK small and medium sized enterprise (SMEs) managers and entrepreneurs to identify six sub-capabilities that form marketing capability. The authors further validated the relationship between marketing sub-capabilities and its antecedent tangible and intangible assets. The qualitative approach used provided a deeper insight into the motivations, perceptions and associations of the stakeholders behind these intangible concepts, and their relationships with their customers. Findings The research identified that there is a strong relationship between tangible and intangible assets, their components and the following capabilities: corporate/brand identity management, market sensing, customer relationship, social media/communication, design/innovation management and performance management. In addition, companies need to understand clearly what tangible and intangible assets comprise these capabilities. Where performance management is one of the key internal capabilities, companies must highlight the importance of strong cultural assets that substantially contribute to a company’s performance. Originality/value Previous work on dynamic capability analysis is too generic, predominantly relating to the manufacturing sector, and/or focussing on using a single case study example. This study extends the concept of marketing capability in a retail setting by identifying six sub-capabilities and describing the relationship of each with tangible and intangible assets. Through extensive qualitative analysis, the authors provide evidence that by fully exploiting their embedded culture and other intangible components, companies can more favourably engage with their customers to attain a sustainable competitive advantage.
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Makarova, V. A. "THE ANALYSIS AND ESTIMATION OF ECONOMIC EFFICIENCY OF RISK MANAGEMENT." Strategic decisions and risk management, no. 3 (August 27, 2015): 72–83. http://dx.doi.org/10.17747/2078-8886-2015-3-72-83.
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Enterprise-wide risk management is a relatively new scientific and practical area of a corporate government, which has a special mission to deal with corporate risks and exposures and to achieve beneficial risk management outcomes. Risk management has a wide range of methods, techniques and tools, but quite expensive, but in the case of a successful application, can stimulate an increase in the company's value. Nevertheless, despite its relevance, risk management reluctantly introduced to the company, this is due, primarily, to the inability to pre-determine the economic impact of existing activities. Most methods for assessing the cost-effectiveness of risk management, as a rule, designed to assess the economic impact after the fact, in this article, the author has provided the tools for assessing the financial and economic impact of the implementation of risk management in advance.
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ŠKARE, Marinko, and Tea HASIĆ. "CORPORATE GOVERNANCE, FIRM PERFORMANCE, AND ECONOMIC GROWTH – THEORETICAL ANALYSIS." Journal of Business Economics and Management 17, no. 1 (February 24, 2016): 35–51. http://dx.doi.org/10.3846/16111699.2015.1071278.
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Corporate governance in today's modern economies is growing in importance within the growth accounting equation. Although we look at corporate governance as final product of 20/21st century economies, old economic growth theories were aware of its importance for growth and development. Roots of corporate governance go back to the ancient economies of India and Greece also. This paper offers a consistent literature review assessing the nexus between corporate performance and economic growth. Individual and cross-country studies show corporate governance in majority of the cases positively affects firms performance and in turn nations' economic growth. Empirical and theoretical research show corporate governance is an important growth determinant to be reviewed in the field of growth models. This article summarizes main findings providing future research directions on the corporate governance – economic growth nexus.
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Liu, Zhi-Qin, Aleksandr Deryagin, and Sergey Glushkov. "IT-Architecture for Corporate Knowledge Management Systems." International Journal of Emerging Technologies in Learning (iJET) 15, no. 14 (July 31, 2020): 65. http://dx.doi.org/10.3991/ijet.v15i14.14673.
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For the efficient implementation of the corporate knowledge management sys-tems, common elements of their IT architecture, functional role as well as other specific features of their use are to be understood. The objective of the research is to identify common elements of IT architecture in the knowledge management systems in the corporate segment. To identify the common elements of the IT ar-chitecture in the knowledge management systems we have used the method of taxonomic classification of knowledge areas with a complex structure based on the example of a comparative analysis of various software products for corporate training, as well as case studies of this issue using the example of enterprises and organizations in China. We have used data from surveys of employees and com-panies as regards the development prospects of the corporate knowledge man-agement systems. The sample scope is 1000 managers of the companies from Eu-rope, the Middle East, Japan and China. For the taxonomic analysis 42 corporate knowledge management systems have been selected, which are used in training and represented in the world market. The integration of new technologies into business processes has caused the demand for new knowledge management sys-tems. Due to analysis results of 42 corporate knowledge management systems for learning, which are represented in the market, we can state that the majority of them have been developed on the grounds of the use of cloud technologies. In the total structure its share makes up almost 83 %, whereas 17 % refers to the rest of the corporate knowledge management systems for learning, as well as their com-bination. The use of obtained research results in practice is supposed if strategic approaches of the implementation of the corporate knowledge management sys-tems at enterprises of China and other countries are justified.
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Osereme Amiolemen, Omoike, Uwalomwa Uwuigbe, Olubukola Ranti Uwuigbe, Ilogho Simon Osiregbemhe, and Ajetunmobi Opeyemi. "Corporate social environmental reporting and stock prices: an analysis of listed firms in Nigeria." Investment Management and Financial Innovations 15, no. 3 (September 21, 2018): 318–28. http://dx.doi.org/10.21511/imfi.15(3).2018.26.
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The study investigated Corporate Social Environmental Reporting and its association with stock prices (using market price per share as at the financial year end) among listed firms in Nigeria. The study used a cross-sectional research design comprising 50 publicly listed companies across various sectors for the period of five years (2011–2015). For the selected firms, the annual report was used to collect the data. This research utilizes the panel data regression in analyzing the influence of the independent variable (measured by corporate social and environmental expenditure) on the dependent variable measured using the market price per share) for the respective years. Also, in an attempt to examine the relatively market price per share across the sampled industries, the study made use of the one-way analysis of variance; while the Granger causality test was also conducted to ascertain whether bi-directional relationships exist between explanatory variable and the dependent variable (i.e. corporate social and environmental expenditure and market price per share). Findings from the study revealed that the association between corporate social and environmental expenditure and the market price of the firm (when considered in aggregate) is not significant. The result from the Analysis of Variance (ANOVA) showed that the market price per share is significantly different across the industries.
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Samanta, Navajyoti. "Transplantation of Anglo-American corporate governance and its impact on financial market growth: a comparative analysis of nineteen developing countries 1995-2014." Corporate Governance: The International Journal of Business in Society 19, no. 5 (October 7, 2019): 884–922. http://dx.doi.org/10.1108/cg-07-2018-0250.
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Purpose Since the late 1990s, developing countries have been encouraged by international financial organisations to adopt a shareholder primacy corporate governance model. It was anticipated that in an increasingly globalised financial market, countries which introduced corporate governance practices that favour investors would gain a comparative advantage and attract more capital leading to financial market growth. This paper aims to empirically test this hypothesis. Design/methodology/approach The present research paper quantitatively investigates whether adopting shareholder primacy corporate governance norms has had any impact on the growth of the financial market, focusing on nineteen developing countries between 1995 and 2014. Time series indices are prepared for corporate governance regulations, financial market development along with three control indices. Then a lagged multilevel regression between these indices is used to investigate the strength of causality between the adoption of pro-shareholder corporate governance and the growth of the financial market. Findings The research paper finds that shifting towards a shareholder primacy model in corporate governance has a very small effect on growth of financial market in developing countries. Overall the financial, economic and technological controls have much more impact on the growth of financial markets. Originality/value This paper conclusively ends the discussion as to whether change in corporate governance has any impact on financial market growth of a country. The papers uses Bayesian econometric model. The paper thus signals the end of LLSV led question as to whether law can affect finance.
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Manzur Quader, Syed, and Michael Dietrich. "Corporate efficiency in the UK: a stochastic frontier analysis." International Journal of Productivity and Performance Management 63, no. 8 (November 4, 2014): 991–1011. http://dx.doi.org/10.1108/ijppm-07-2013-0125.
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Purpose – Using a panel of 1,122 UK firms listed on the London Stock Exchange over the period of 1981-2009, corporate efficiencies are predicted in this paper as inverse proxies of agency cost and the agency cost hypotheses are tested. The paper aims to discuss this issue. Design/methodology/approach – Stochastic frontier analysis is used to estimate corporate efficiency of firms, but from two different perspectives. The long-run and short-run corporate efficiencies are predicted focussing on modern approach of value maximization and traditional approach of profit maximization, respectively. Findings – The estimation results reveal that, an average firm in the sample achieves 74.5 percent of its best performing peer's market value and 86.6 percent of its best performing peer's profit and both of them are highly significant in the analysis. The long-run market value efficiency supports the agency cost of outside equity and the short-run profit efficiency supports the agency cost of outside debt hypothesis. Also there is a positive rank correlation between these two efficiencies which confirms that an average firm in the UK suffers from inefficiency or agency conflicts to a certain extent, no matter whether the firm is driven by short-run or long-run growth perspectives. Research limitations/implications – The predicted broad measures of agency costs in the paper have wider implications in enhancing the understanding of the UK firms’ corporate performance especially when they operate under a relatively free and market based governance and financial system. Originality/value – The work is distinguished by the large panel of UK firms and a long period of time that is considered. Emphasizing on the empirical implications of the distinctions between short-run and long-run efficiency is also novel.
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Michael, Bryane, and S. H. Goo. "Corporate governance and its reform in Hong Kong: a study in comparative corporate governance." Corporate Governance 15, no. 4 (August 3, 2015): 444–75. http://dx.doi.org/10.1108/cg-09-2013-0109.
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Purpose – The purpose of this paper was to determine to what extent Hong Kong’s experience proves (or disproves) theories from corporate governance in the areas of family ownership, concentration, self-dealing in Hong, executive compensation and other issues. This paper – written in the comparative corporate governance tradition – uses data from Hong Kong to discuss wider trends and issues in the corporate governance literature. Design/methodology/approach – The authors use the comparative corporate governance approach – exposing a range of corporate governance theories to the light of Hong Kong data. The authors purposely avoid over-theorising – leaving the data to speak for themselves for other researchers interested in such theorising. Findings – The authors find that Hong Kong presents corporate challenges that are unique among upper-income jurisdictions – in terms of potentially harmful (shareholder value diminishing) family relationships, shareholder concentration and self-dealing by insiders. The authors also show that excessive executive compensation, accounting and audit weaknesses do not pose the same kinds of problems they do in other countries. The authors provide numerous comments on theoretical papers throughout the presentation in this paper. Research limitations/implications – The authors chose a relatively unused research approach that eschews theory building – instead, the authors use data from a range of sectors to build an overall picture of corporate governance in Hong Kong. The authors subsequently affirm or critique the theories of others in this paper. Practical implications – The original analysis conducted by the authors provided 22 recommendations for revising listing rules for Hong Kong’s stock exchange. Others – particularly Asian officials – should consider Hong Kong’s experience when revising their own corporate governance listing rules and regulations. Originality/value – This paper offers new and original insights in four directions. First, the authors use the empiricist’s method – presenting data from a wide range of corporate governance areas to comment on and critique existing studies. Second, the authors provide a system-wide view of corporate governance – showing how different parts of corporate governance rules work together using concrete data. Third, the authors provide a new study in the comparative corporate governance tradition – another brick in the wall that is “normal scientific progress”. Fourth, the authors pose tentative resolutions to highly debated questions in corporate governance for the specific time and place of Hong Kong in the early 2010s.
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HOOD, JOHN, and SCOTT NICHOLL. "THE ROLE OF ENVIRONMENTAL RISK MANAGEMENT AND REPORTING: AN EMPIRICAL ANALYSIS." Journal of Environmental Assessment Policy and Management 04, no. 01 (March 2002): 1–29. http://dx.doi.org/10.1142/s1464333202000899.
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In recent years, there have been significant developments in the field of environmental risk assessment and management. Its role in the corporate setting has been strengthened by claims that financial results and corporate reputation can be significantly improved through environmental management. Risk assessment and management provides one of the most comprehensive and cost-effective mechanisms for managing environmental issues and has subsequently led to the adoption of risk-based environmental management. This research examines the current discussion in the field of environmental risk management and undertakes a survey of 112 UK companies to ascertain how environmental risk assessment is perceived and what role it has in environmental management, including environmental reporting and accounting. The paper concludes that whilst there have been some positive developments in the area, companies, governments and regulators still have work to do in ensuring the adoption of best practice.
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Saad, Noriza Mohd. "Corporate governance compliance versus Syaria’ compliance and its link to firm’s performance in Malaysia." Corporate Ownership and Control 6, no. 4 (2009): 148–58. http://dx.doi.org/10.22495/cocv6i4p14.
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The purpose of this study is to investigate level of compliance by corporate governance (CG) code of best practices and sharia’ principles among public listed companies in main board of Bursa Malaysia and to provide insights view in determining significance association between the corporate governance and sharia’ compliance with firm’s performance. Corporate governance compliance was measured by three board of directors (henceforth; BOD) facets; (i) director’s remuneration, (ii) directors training and (iii) number of family members. Meanwhile, syaria’ compliance is based on six proxies, (i) riba, (ii) gambling, (iii) sale of non halal product, (iv) conventional insurance, (v) entertainment and (vi) stockbroking. The data are gathered from the analysis of companies’ annual report and Thompson DataStream for a sample of 147 companies (for corporate governance compliance) and 36 companies (for syaria’ compliance) over the period of 2003 to 2007. The study employs multiple regression analyses, independent sample T-test and Pearson correlation on the hypotheses tested. The preliminary results reveal most of the company has complied well with the code of best practices and syaria’ principles and there is a significant association to the firm’s performance besides syaria’ compliance firms show a better performance compared to corporate governance compliance firms.
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Anyane-Ntow, Kwabena. "Accounting Information And Its Relationship To Corporate Financial Distress Process." Journal of Applied Business Research (JABR) 7, no. 3 (October 19, 2011): 29. http://dx.doi.org/10.19030/jabr.v7i3.6223.
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This article studies the critical chronological stages of the corporate distress process. Principal Factor Analysis is used to identify the underlying factors that influence the conditions of firms, as well as factors that account for intergroup differences. The results indicate that the critical factors associated with financial distress of manufacturing firms differ from those associated with service organizations; these factors also differ among the different groups studied and along the different phases of the financial distress continuum.
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Zopounidis, Constantin, Alexandros Garefalakis, Christos Lemonakis, and Ioannis Passas. "Environmental, social and corporate governance framework for corporate disclosure: a multicriteria dimension analysis approach." Management Decision 58, no. 11 (November 9, 2020): 2473–96. http://dx.doi.org/10.1108/md-10-2019-1341.
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PurposeThe purpose of this paper is to provide to the Board of Directors and CEOs of a firm to be aware of and accountable for the information they provide to the public. As long as the quality of the companies’ public information is high, it will be able to retain its investors as well as to obtain new ones more easily.Design/methodology/approachThis paper introduces a Multi-Criteria Decision Aid (MCDA) tool with the use of the PROMETHEE II method to formulate an alternative aggregate ESG quality approach. We conduct comparisons in a sectorial and regional based perspective during different exam periods before and after the implementation of International Financial Reporting Standards (IFRS), in an attempt to provide a robust framework for corporate disclosure reporting.FindingsThe findings are of particular interest to both scholars and decision-makers, including providers of corporate governance indices and rating agencies. The innovation of this paper lies among others in using the MCDA method with the ESG framework, which proposes a combination of qualitative and quantitative criteria, enabling experienced and/or not experienced analysts to avoid manipulating techniques in business information.Research limitations/implicationsThe sample of companies based on the US and Europe companies incorporating only large-sized ones.Practical implicationsFindings are of particular interest to both scholars and decision-makers including providers of corporate governance indices and rating agencies.Social implicationsBetter understanding features pay key importance for increasing the “quality” information in firms financial statements, especially after the use of IFRS in reporting standards.Originality/valueThe authors proceed to analysis using a multiple perspective use that is decomposed into the following options: (a) Time-period oriented option, (b) Regional-oriented option and (c) Sectoral-oriented option respectively.
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Popoola, Ayeni, Aina Adeyemi, and Ibitoye Temitope. "GLOBAL ACCOUNTING REGULATION: IMPACT OF IFAC ON FINANCIAL REPORTING QUALITY." International Journal of Engineering Technologies and Management Research 4, no. 8 (February 1, 2020): 1–7. http://dx.doi.org/10.29121/ijetmr.v4.i8.2017.76.
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This paper provides an analysis of various dimensions of accounting and corporate governance that have led to the currently troubling state of affairs in the financial reporting environment. Good Corporate Governance (GCG) is a mandatory requirement in today’s corporate world by every stakeholder groups. Failure of giant corporate groups in the last twothree decades strengthens the demand further. And surprisingly, in some of such failures, accounting as a discipline is held liable. The way accounting is practiced or the interpretations that may give different prescriptions in similar situations are some dark areas that may open some scope for the corrupted accountants. The paper covers the concept of corporate governance, its legal framework, its current status and how accounting may be practiced to protect corporates from corruption by establishing governance. The paper analyzes how IFAC is succeeding as an international standard setter with an established place in the global financial infrastructure and it reveals a growing reliance on governance by experts together with a growth in influence of the large, multinational accounting firms. Until corporate boards are truly independent of corporate management and are knowledgeable enough to act as effective shareholder advocates, changes in accounting will be of limited impact.
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Styhre, Alexander. "Corporate governance varieties." International Journal of Organizational Analysis 26, no. 3 (July 9, 2018): 582–98. http://dx.doi.org/10.1108/ijoa-02-2017-1127.
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PurposeCorporate governance is the practice of balancing various stakeholder interests within the legal device of the chartered business. Recent changes in the competitive capitalism including the Great Recession, now entering its second decade, have called for reforms within the defined corporate system. To sketch a wider picture of corporate governance issues and the debate over time, this paper aims to identify two philosophical traditions, a British and liberal tradition and a continental statist tradition, which have bearings for how the legal device of the corporation is understood.Design/methodology/approachThis conceptual paper combines legal philosophy and legal studies, management studies, economics and economic sociology literatures.FindingsIn the former tradition, the firm and its ownership are exclusively associated with irreducibly individual rights. In the latter tradition, property rights remain the core of legal systems, but rather than being an end in itself (as in the liberal tradition), such property rights are merely the starting point for the individual’s wider engagement in social and public affairs. These two traditions enact the firm differently and emphasize specific benefits. In the former tradition, associated with a shareholder primacy model, individual rent-seeking is foregrounded; in the latter tradition, associated with legal and management scholarship, the team production qualities of the firm are emphasized.Originality/valueThis conceptual paper offers an analysis of the roots of differences between Anglo-American and continental corporate governance traditions, a scholarly study that is of great theoretical and practical relevance in the era of the Great Depression.
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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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Mangesti Rahayu, Sri, Suhadak, and Muhammad Saifi. "The reciprocal relationship between profitability and capital structure and its impacts on the corporate values of manufacturing companies in Indonesia." International Journal of Productivity and Performance Management 69, no. 2 (August 13, 2019): 236–51. http://dx.doi.org/10.1108/ijppm-05-2018-0196.
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Purpose The purpose of this paper is to investigate the reciprocal relationship between profitability and capital structure and its impacts on the corporate values of manufacturing companies in Indonesia. Design/methodology/approach This research is a quantitative research using the general structural component analysis as the analysis tool. This research involved a number of manufacturing companies registered in the Indonesia Stock Exchange in 2008‒2015 period. Findings Profitability has a negative significant influence on capital structure, indicating that profitability is a determining factor upon the corporate capital structure. This finding also implies that the improvement in profitability in the forms of return on investment, return on equity and net profit margin triggers decrease in the proportion of debt within the capital structures of manufacturing companies registered in BEI or Indonesia Stock Exchange. Originality/value Previous research only addressed the one-way correlation between profitability and capital structure, whereas this research measured the two-way correlation and reciprocal relationship at the same time. This research measured the influences of profitability and capital structure on the corporate value, in order to find a consistent finding that has not been yet obtained in previous research. This research also attempted to find out whether the use of the same variables within different time and setting (in Indonesia) leads to different results. The inconsistent findings also motivate the researcher to re-explore the reciprocal influence of corporate profitability on corporate capital structure and its effect toward the corporate value.