Academic literature on the topic 'Directors of corporations, great britain'
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Journal articles on the topic "Directors of corporations, great britain"
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Ordinartsev, I. I. "Problems of Formation of Compliance in Russia." Management Science 10, no. 2 (July 13, 2020): 31–40. http://dx.doi.org/10.26794/2404-022x-2020-10-2-31-40.
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The integration of Russian companies in the global economy requires compliance with the requirements of good corporate governance. There are included but not limited the compliance with established anti-corruption laws, norms and rules. Such mechanisms are developing quite intensively in Russia: the legal foundations are studied, the components of the compliance system are identified. The compliance is most widely developed in the banking sector and medicine. There are required procedures implemented poorly in domestic corporations due to the lack of mandatory legislative requirements. Domestic companies operating in international markets are guided by the laws of the respective countries, mainly the USA, Great Britain and France. Unified requirements for systems and mechanisms for verifying compliance with current standards are not developed in domestic practice, which contributes to a different interpretation of the existing provisions of the Central Bank and international rules. The study goal is to identify priority areas for the compliance development in Russia, bringing the domestic regulatory framework closer to world practice. The paper shows that Russian corporations use a large number of internal regulatory documents in their practice, many of which differ mainly by their names. Direct adherence to international standards is not possible due to differences in the requirements of domestic and foreign legislation. To accelerate the adaptation of domestic companies to the world practice of good corporate governance, it is necessary to develop national formats, the structure of a compliance system and a list of basic internal paperworks. There are shown the importance and development directions of the Russian national regulatory framework. These research materials may be useful to corporate governance specialists, reactionaries, and corporate executives.
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Titova, O., and V. Тitova. "FOREIGN EXPERIENCE OF ADMINISTRATION IN THE FIELD OF EDUCATION." Scientific Notes Series Law 1, no. 13 (March 2023): 182–86. http://dx.doi.org/10.36550/2522-9230-2022-13-182-186.
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The experience of foreign countries is valuable in terms of achieving a certain balance between state regulation of the education sphere and achieving a certain financial and other autonomy of educational institutions. Thus, over the last decade, the increase in the autonomy of educational institutions has gained global momentum. We believe that Ukraine should move in such a way that the majority of state educational institutions are transformed from ordinary state institutions into state corporations. In particular, these changes should be aimed at optimizing the distribution and spending of funds aimed at the functioning of educational institutions. Also, Ukraine needs, by analogy with Poland, Great Britain, and Switzerland: to implement the principles of decentralization of education (delegating the Ministry of Education and Science of Ukraine its powers to local bodies); create mechanisms for involving the local community in decision-making regarding further directions in the field of education; to give more powers to educational institutions in solving issues related to their development; to give educational institutions more financial autonomy. We believe that in the process of decentralization of education in Poland, the introduction of the opportunity to involve the local community in the development of local educational policy directions for solving local problems in the field of education was successful. Yes, this is consistent with the trends introduced in all highly developed countries. Yes, the indicated trends are that if it is necessary to involve the so-called "consumers of education" in the development of the relevant directions of education development. It was noted that the general state bodies in the field of education abroad, although they have a certain role in the implementation of education administration in the state, but the main functions of the administration of the field of education are entrusted to the relevant bodies in the field of education in individual states and to local education bodies. It should be emphasized that in recent years, the US government has also begun to provide significant support in the field of education development, as well as to participate in the management of such a field by providing certain financial support to individual programs on education in the respective states, as well as by financing new programs developed by by the government.
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Nurlan Hajizada, Nurlan Hajizada. "OPTIMAL IN THE NATIONAL ENERGY SECTOR DIRECTIONS OF FORMATION OF INFRASTRUCTURE COMPLEX." PAHTEI-Procedings of Azerbaijan High Technical Educational Institutions 13, no. 02 (March 1, 2022): 80–99. http://dx.doi.org/10.36962/pahtei13022022-80.
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The article deals with the relevance of more effective structural transformation through the introduction of new innovations using advanced world experience in the infrastructure complex of the energy sector of the Republic of Azerbaijan. In this regard, the study also reflects the analysis and research on the directions of formation of optimal infrastructure complex in the energy sector. For this purpose, new development targets have been identified in the first chain of the national energy sector infrastructure complex against the background of progressive world experience analysis. For this purpose, the experience of leading world countries in oil and gas industry, including the United States of America, people's Republic of China, Russian Federation, Great Britain, Japan, South African Republic, Norway and others has been studied. The learning spectrum also covered the experience of well-known transnational corporations, including “Statoil”, “Schlumberger”, “Rosneft”, “Gazprom”, “Lukoil” and others. The existing positive trends in this sphere were based on systematized for application in the first chain of infrastructure complex of the national energy sector. Based on this, based on the analysis, the following were identified as the directions of formation of optimal infrastructure complex in the first chain of the national energy sector: • creation of a broad spectrum of continuously renewing energy potential; • increasing efficiency of production and processing of oil, gas and other energy resources and strengthening innovative supply of their production; • technological renewal of the fuel and energy complex and transition to energy-efficient strategic development model in this sphere in order to meet the growing domestic demand of the economy and ensure exports; • formation of a new system of institutions for the broad liberalization of the fuel and energy market and improvement of the relevant regulatory and legal framework. In addition, the achievements of Turkey, the Russian Federation, the Federal Republic of Germany and Great Britain were analyzed and evaluated to determine the principles of transition to the liberal market model in the second chain of the national energy sector infrastructure complex. The main components of this advanced practice have also been unified for application. Also, based on the analysis and research carried out in accordance with the requirements of the law of the “Republic of Azerbaijan on efficient use of energy resources and energy efficiency”, the author has prepared a scheme reflecting the transition of the National Electric Power system to a liberal market model. Based on the analysis and assessments covering both links of the energy sector, the author has developed an oligopolistic market model of the national energy infrastructure complex. The classification composition of the transformation of the optimal infrastructure complex in the national energy sector includes the following: • deposits and gas supply organizations located in dry areas are excluded from the structure of SOCAR and he continues to work as a transnational company that exploits offshore oil fields. In its structure, it retains its assets outside the country, as well as oil refining, deep foundations production and other directly necessary service areas. At the same time, it is considered appropriate to include in its functions the production of renewable energy sources; • a separate oil and gas producer concern is being set up in public-private cooperation, which manages the oil and gas industry in onshore areas from exploration to filling stations. The concern also implements a strategy for renewable energy production by converting some of the mining areas into energy farms (solar, wind, hydrogen, fast-growing plants and ethanol production by planting trees). • a separate vertically integrated state gas company is established, which carries out the reception, treatment, processing, storage, transportation and supply of gas. It also includes carbamide and methanol plants operating directly on gas raw materials. The gas distribution area is fully or partially allocated for privatization or transferred to private companies in pilot form for management; • the independence of the oil and gas chemistry complex is also assessed separately. At the same time, it is expedient to join “SOCAR Polymer” Plant, which produces polymers, into this complex; • In line with the reforms carried out in the country, the electric power sector is moving to a liberal market Model. Power plants remain in the state's view at the initial stage. Taking into account the strategic goals of the state, starting with relatively small power plants, their transfer or full privatization to independent and mixed management on the basis of rigid investment agreements is considered. In this sphere “Transmission System Operator for electric power” is being created, which includes high voltage transmission lines under full control of the state. In addition, the organization “Market Operator for electric energy” is established, which carries out the processes of wholesale electricity in the energy system, and is also under the full control of the state. In the distribution network system of electricity, full or partial privatization is carried out. The final results of our analysis on the formation of an optimal infrastructure complex in the national energy sector show that a fundamental transition to a liberal market model should be made in the country, and an optimal infrastructure complex should be formed here. The new infrastructure complex should be formed in an oligopolic model, reflecting the achievements of the most progressive world experience. Natural, environmental, political and economic factors that optimally influence the Bur sphere should be taken into account, the tariff and tax system should be improved, and the next stage of development in the energy sector should find continuous stimulation within the framework of Public-Private Partnership. Keywords: energy infrastructure, oil and gas industry, electricity, innovations, oligopoly, digital twins.
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Grafshonkina, Anastasia A., and Arina R. Shaykhutdinova. "The Establishment of Professional Corporations of Lawyers in European Countries." History of state and law 4 (April 29, 2021): 75–80. http://dx.doi.org/10.18572/1812-3805-2021-4-75-80.
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The article analyzes the problem of formation communities of lawyers in European countries. The authors summarized the experience of creating professional legal communities in Great Britain, France and Germany. An analysis of this issue in the direction of the history of law and the state is important for the development of civil society institutions in the modern world.
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Staszczak, Dariusz Eligiusz. "CHANGES IN THE COLLECTIVE HEGEMONY OF STATE-POWERS AND TRANSNATIONAL CORPORATIONS IN THE BEGINNING OF XXI CENTURY." sj-economics scientific journal 17, no. 2 (August 30, 2015): 54–62. http://dx.doi.org/10.58246/sjeconomics.v17i2.403.
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This paper bases on the idea of the global collective hegemony of state-powers and transnational corporations that stabilizes the economic and political world system Author stresses changes of this hegemony in the beginning of XXI century because of a relative drop of the economic position of the United States, Great Britain, France and Japan and because of the growth of the economic position and political power of China and Germany. Moreover, an increase of global importance of transnational corporations gives them opportunities to influence on the state politics.
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Martins, Henrique Cordeiro, Carlos Alberto Gonçalves, and Daniel Jardim Pardini. "Corporate governance at work: the attributes and roles of boards in Brazilian companies." Corporate Ownership and Control 7, no. 3 (2010): 33–43. http://dx.doi.org/10.22495/cocv7i3p3.
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The board of directors is seen as the central governance instrument, promoting interaction between stakeholders and promoting high performance, organization sustainability and return to investors. The practices and strategic definitions of corporative governance are considered of great importance today for corporations, due to the size and to the complexity of their structures (like M _ Forms structures) and the different forms in which they are presented: in networks, associations, partnerships, mergers and acquisitions. The aim of this article is to analyze the constitution of boards of directors, based on their attributes, and the impacts of this classification on the roles and responsibilities of the directors in Brazilian companies. For this, a quantitative survey was performed in the 300 largest companies in Brazil listed in BOVESPA - stock exchange in capital market. The results found point to a strong correlation of some attributes of the directors of the researched firms with the roles and responsibilities of the board, in relation to strategic, control, and institutional dimensions.
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Stout, Lynn A. "On the Nature of Corporations." Deakin Law Review 9, no. 2 (November 1, 2004): 775–89. http://dx.doi.org/10.21153/dlr2004vol9no2art263.
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Legal experts traditionally distinguish corporations from unincorporated business forms by focusing on such corporate characteristics as limited shareholder liability, centralised management, perpetual life, and freely transferred shares. While this approach has value, this essay argues that the nature of the corporation can be better understood by focusing on a fifth, often-overlooked, characteristic of corporations: their capacity to “lock in” equity investors’ initial capital contributions by making it far more difficult for those investors to subsequently withdraw assets from the firm. Like a tar pit, a corporation is much easier for equity investors to get into, than to get out of. An emerging school of theorists has begun to explore the implications of this idea for corporate law and practice. The idea is still novel enough to lack a uniformly- accepted label—in addition to the phrase “capital lock-in,” scholars have described this aspect of incorporation as “affirmative asset partitioning,” “the absence of a repurchase condition,” and “asset separation from shareholders.” Whatever label one chooses, the idea shows great promise for illuminating a variety of thorny problems that have long troubled corporate scholars and practitioners. In illustration, this essay considers how the idea of capital lock-in sheds light on three corporate mysteries in the United States: the sui generis nature of corporate directors’ fiduciary duties; the rise of the large modern service partnership; and lawmakers’ enthusiasm for meddling with corporate governance rules.
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Pope, P. F., R. C. Morris, and D. A. Peel. "INSIDER TRADING: SOME EVIDENCE ON MARKET EFFICIENCY AND DIRECTORS' SHARE DEALINGS IN GREAT BRITAIN." Journal of Business Finance & Accounting 17, no. 3 (June 28, 2008): 359–80. http://dx.doi.org/10.1111/j.1468-5957.1990.tb01191.x.
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Editorial. "Educational project Triumph on Bothe Sides of the Ocean To the 75th Anniversary of the Oscar’s awarding for the Soviet film." Journal of Flm Arts and Film Studies 9, no. 4 (December 15, 2017): 6. http://dx.doi.org/10.17816/vgik946-6.
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The 37th VGIK International Student Festival received a wide response. Representatives of 40 film schools from 35 countries participated in it, student films from Belgium, Spain, Ecuador, Argentina, the USA, Great Britain, Israel, Switzerland, Canada, Singapore, Mexico, France and other countries competed. A landmark event of the festival was the presentation of the extraordinary scientific and educational project Triumph on both sides of the ocean, dedicated to the 75th anniversary of the Soviet documentary film The rout of German troops near Moscow, filmed by directors L. Varlamov and I. Kopalin in 1942 .
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Siemiątkowski, Artur. "THE INFLUENCE OF TRANSNATIONAL CORPORATIONS ON SOCIETY’S SAFETY BASED ON ACTIVITY OF AMAZON.COM IN POLAND AND GREAT BRITAIN." Toruńskie Studia Międzynarodowe 1, no. 9 (March 31, 2017): 131. http://dx.doi.org/10.12775/tis.2016.0012.
Full textDissertations / Theses on the topic "Directors of corporations, great britain"
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Smith, Mark Bowler. "UK competitiveness, sustainable development and corporate taxation : using the corporation tax to promote increased resource productivity in line with the law and policy of the European Union." Thesis, University of Cambridge, 2012. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.610274.
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Hirt, Hans C. "The enforcement of directors' duties in Britain and Germany : a comparative study with particular reference to large companies /." Oxford [u.a.] : Lang, 2004. http://www.gbv.de/dms/spk/sbb/recht/toc/383089581.pdf.
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Al-Hamadeen, Radhi Mousa. "Assurance of corporate stand-alone reporting : evidence from the UK." Thesis, St Andrews, 2007. http://hdl.handle.net/10023/423.
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Lowes, Bryan. "Control and directors' remuneration in large British companies : an empirical investigation of directors' shareholdings and remuneration, and the implications of remuneration patterns for managerial theories of the firm." Thesis, University of Bradford, 1985. http://hdl.handle.net/10454/4201.
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Literature on the divorce of ownership from control has emphasised the declining proportion of shares owned by salaried managers who control large companies. Because these salaried managers have negligible proprietarial interest in the companies they manage, some writers have suggested that they will have different motives to owner-managers. In particular, managers' direct pecuniary interests may cause them to pursue company growth at the expense of profit, for managers' salaries tend to be related to the size of the companies which they manage rather than the profitability of those companies. These alternate motivations were incorporated in various managerial theories of the firm developed in the late 1960's which emphasised company growth as a key objective. An investigation of the shareholdings and salaries of the directors of major British companies confirms that the proportion of total shares held by company directors has fallen over the years, though it is argued that shareholdings are still large enough to allow directors to exercise effective control over their companies. In addition, while the proportion of total shares held by directors is small, these shareholdings are often large in absolute terms and constitute a significant source of directors' income, though the size of directors' shareholdings varies considerably between industries. Combined dividend income and capital appreciation of shareholdings match the remuneration which directors receive as salary income. It is argued that these profit-related income elements are sufficiently large to cause directors to attach priority to profitability goals. This proposition is explored through statistical analysis of the relationship between directors' remuneration and company performance. Regression results show that as the definition of directors' remuneration is broadened to include dividends and capital appreciation as well as salary, company size variables diminish in importance as determinants of remuneration and profitability variables predominate. Managers do have an incentive to pursue profitability.
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Clemis, J. David. "Government in an English provincial town : the Corporation of Ipswich, 1720-95." Thesis, University of Leicester, 1999. http://hdl.handle.net/2381/31031.
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Despite an increasingly rich historiography detailing the economic, cultural, and political development of eighteenth-century provincial towns, governance and politics under the municipal corporation has received little recent attention. For the most part, a conventional view prevails holding that the corporations were increasingly corrupt, under-resourced and institutionally obsolete. The rise of statutory authorities and other forms of government are seen as evidence of the ineffectiveness of the old corporate regimes. This thesis attempts to understand what sort of role the static, institutionally ossified municipal corporation was able to play in within a community undergoing important social, cultural, and economic changes over the course in the eighteenth century. In the case of Ipswich, Suffolk, it is argued that while the ancient Corporation did not function in accordance with modem standards of bureaucratic effectiveness and democratic openness, it nonetheless played central role in the life of the community. As an instrument of for the regulation of trade and the maintenance of commercially vital infrastructure, the Corporation operated with great effectiveness until the last decades of the eighteenth century. Moreover, in contending with the problem of poverty, the town's leaders were able to co-ordinate parochial relief with considerable resources they directly controlled. The community was not subject to the tyranny of an unresponsive oligarchy nor dominated by its wealthiest members. The Ipswich Corporation's particular institutional structure and the town's developing political culture meant that domination of the senior offices by a narrow elite grew increasingly difficult. Moreover, the negotiation of power relations and the place of the Corporation in the life of the community must be understood within the context of the participation of a broad cross-section of the community in various aspects of government and politics. For most of the eighteenth century the Corporation was able to function effectively and provided various means of participation in its affairs for a wide spectrum of the community. By the 1780s, however, a contentious politics had developed which exploited institutional weaknesses and financially undermined the corporate regime. The Corporation's success depended on its pre-eminence and the cohesiveness of its governing elite. The increasingly profound loss of the later gradually undermined the former. This opened the way for other forms of public authority whose principles, methods, and very existence undermined the ancient Corporation in the early nineteenth century.
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de, Aguiar Thereza R. S. "Corporate disclosure of greenhouse gas emissions : a UK study." Thesis, University of St Andrews, 2009. http://hdl.handle.net/10023/840.
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Two beliefs drove this dissertation to be centered on the analysis of the UK corporate disclosure (CD) related to global climate change (GCC). Firstly, GCC is the most significant environmental concern of our current age (IPCC, 2001; Stern, 2006; IPCC, 2007). Secondly, CD could illustrate the values of organizations and possibilities for changing organizations’ responsibility regarding to GCC (Gray et al., 1996; Bebbington and Larrinaga-Gonzalez, 2008; Bebbington et al., 2009). This study utilizes content analysis as its principal method and seeks to achieve its goal by way of a two investigations. The first investigation focuses on disclosures made by direct participants’ (DP) in the UK Emissions Trading Scheme (UK ETS). It captures GCC disclosures from both stand alone (SA) and annual reports (AR) during 2000 - 2004. This part of the study explores if joining the UK ETS changed GCC disclosures. This is tested on both a longitudinal and matched pair (MP) basis. An analysis using institutional theory suggests that instruments of environmental policy may influence GCC disclosures. Results showed that DP increased GCC disclosure, especially in the AR where mainstream business rationale is accepted. MP disclosures, in contrast, focus on the SA media and on different topics than DP disclosures. AR and SA both contain CD, but in this study they showed different patterns of disclosure and therefore may constitute different disclosure media. The second investigation suggests a method to compare GCC disclosure for a sample of DP and MP, using three different media: carbon disclosure project (CDP), AR and SA. Analysis shows that GCC disclosure did not provide sufficient information to compare GCC initiatives and disclosures. Despite the fact that organizations have similar characteristics in terms of sector, size and origin country, they showed different views on GCC issues and this may partially explain differences on GCC initiatives and disclosure.
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Smith, Heidi Helette. "Evaluering van twee groepe dubbelgenoteerde maatskappye, wat op die JSE Sekuriteitebeurs van Suid-Afrika genoteer is, vir suksesvolle omskakeling na internasionale finansiele verslagdoeningstandaarde teen 2005." Thesis, Stellenbosch : University of Stellenbosch, 2005. http://hdl.handle.net/10019.1/1911.
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Thesis (MAcc (Accountancy))--University of Stellenbosch, 2005.The fact that investors increasingly invest in companies from another country than the investor himself and the consequential globalisation of capital markets, resulted in the European Parliament and Council (EP) accepting Regulation No. 1606/2002 during 2002. The consequence of the regulation was that uniform accounting standards had to be implemented throughout the European Union (EU). The accounting standards that were accepted, are the International Financial Reporting Standards (IFRS) (previously known as International Accounting Standards (IAS)). The regulation further determined that the effective date of this required compliance with IFRS was 1 January 2005. At the time when the regulation was accepted, most companies that were listed on the JSE Securities Exchange of South Africa (JSE) still prepared their financial statements in accordance with South African Statements of Generally Accepted Accounting Practice (South African SGAAP). The implication of the acceptance of the regulation by the EP was that in the event that a company was not only listed on the JSE but also on a stock exchange in the EU, the financial statements of that company would have to be prepared in accordance with IFRS. In this study two groups of companies were selected for evaluation. The one group consists of companies with a primary listing on the JSE and a secondary listing in the EU (first group) and the other group has a primary listing in the United Kingdom (UK) and thus the EU, with a secondary listing on the JSE (second group). The purpose of the study is to identify the implications of the acceptance of abovementioned regulation on the financial reporting of the selected companies. Firstly, a study was made of the differences between the Generally Accepted Accounting Practice of the United Kingdom (UK GAAP) and IFRS. The reason for this largely relates to the fact that there are still substantial differences between these two sets of accounting standards. No such study was conducted in respect of differences between South African SGAAP and IFRS as South African SGAAP was completely replaced by IFRS during 2004 and hence no differences exist any more. The only exception relates to the 500 series of standards that are unique to South Africa. There are, however, only two issued standards in this series and hence no further attention was paid to that. Hereafter the 2002 financial statements of all the selected companies were evaluated by measuring it against an IFRS disclosure checklist for 2002. The purpose was to identify the extent to which the selected companies comply with IFRS by focusing on the areas with regards to which they do not comply with IFRS. It was found that the companies of the first group largely fail to comply with IFRS in respect of matters of disclosure, whilst the second group of companies sometimes also, in their application of recognition requirements and measurement guidelines, used different practices to those suggested by IFRS. This was largely attributable to the fact that there are substantial differences between UK GAAP and IFRS, whilst South African SGAAP and IFRS already were very similar until recently. Consequently, questionnaires were sent to interested selected companies in which they could give feedback on their level of awareness and perceptions of the required transition to IFRS by 2005 as well as the procedures that they have followed or will follow in their process of transition to IFRS. Fourthly the 2003 financial reports of the selected companies were evaluated for compliance with IFRS by measuring it against the IFRS disclosure checklist that would be applicable on their 2004 financial periods. This was done in order to determine whether the selected companies showed any progress in their level of compliance with IFRS. This process also identified which IFRS, which were issued during 2003/2004, will be applicable on the 2004 or later financial periods of the selected companies, as these are further areas that will demand the attention of the selected companies in their process of becoming IFRS compliant. It was found that all selected companies showed rather little progress in their level of IFRS compliance. It is however concerning that even though South African SGAAP were previously very narrowly aligned with IFRS, the companies of the first group still fail to comply with fairly simple disclosure requirements. It would thus appear that they do not take the process of transition to IFRS serious enough. The fact that the second group of companies also did not make much progress can still be justified by the fact that UK GAAP were not aligned closer to IFRS during 2003 and most of the selected companies were still busy with the planning process for the transition to IFRS. It is expected that the financial statements of these companies will display substantial progress in their 2004 financial periods. Finally the compliance mechanisms were studied in order to determine which processes are in place to ensure that companies will indeed comply with IFRS. This study was done in respect of the EU, the UK and South Africa. All three these regions either already have or will have bodies in the near future that will have the task of evaluating the financial statements of listed companies for IFRS compliance. The conclusion is however that as a result of the negative consequences of noncompliance with IFRS sufficient factors do exist that will motivate companies to fully comply with IFRS. In addition, the listing requirements of the JSE has changed and financial reporting in accordance with IFRS is now a requirement.
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Minhat, Marizah. "Three essays on CEO compensation in the UK." Thesis, University of Stirling, 2009. http://hdl.handle.net/1893/2300.
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This thesis comprises three studies on CEO compensation in the UK. It specifically examines the role of CEO defined-benefit pensions, compensation consultants and CEO stock options. Firstly, research on the role of executive pensions is still at a stage of infancy due to data difficulties (Sundaram and Yermack, 2007). By taking advantage of better disclosure requirements with the introduction of Directors’ Remuneration Report Regulations (DRRR) in 2002, this thesis examines the determinants and effects of CEO defined-benefit pensions. Consistent with rent extraction hypothesis (Bebchuk and Fried, 2005; Kalyta and Magnan, 2008), it finds that pensions are largely determined by CEO power over boards of directors. There is no evidence that pensions reduce the agency cost of debt as suggested by Edmans (2008) and Sundaram and Yermack (2007). Instead they increase the agency cost of equity by discouraging CEO risk-taking and reducing pay-performance relationship. Consistent with the argument in Gustman et al. (1994), Ippolito (1991) and Lazear (1990), this thesis also finds that pensions do bond a CEO to the firm she manages. Secondly, because of the lack of disclosure regarding compensation consultants used by companies, the empirical evidence is so far limited on how the practice of employing compensation consultants influences CEO pay. By taking advantage of better disclosure requirements since the publication of the DRRR (2002), this thesis examines the effect of using compensation consultants on CEO pay. Unlike Murphy and Sandino (2008), this thesis finds no evidence that firms use multiple pay consultants to justify or legitimize higher CEO pay. In light of the managerial power theory, this thesis instead finds that pay consultants are more concerned with the risk of losing business with their client firms. This latter finding explains why the use of pay consultants is associated with greater executive pay (see Armstrong, Ittner and Larcker, 2008; Cadman, Carter and Hillegeist, in press; Conyon, Peck and Sadler, 2009; Murphy and Sandino, 2008; Voulgaris, Stathopoulos and Walker, 2009). Thirdly, despite the importance of the issue, the existence of a link between the CEO stock options and earnings management is currently understudied in the UK. The UK context is appealing because of two distinctive corporate governance features that limit opportunistic earnings management. These are the absence of CEO duality in general (Cornett, Marcus, and Tehranian, 2008) and the increased outside director’s membership on boards since the publication of the Cadbury Report (1992) (Peasnell, Pope, and Young, 2000). By examining earnings management prior to stock option grant and exercise periods, this thesis adds to the study of Kuang (2008) that examines earnings management during stock option vesting periods. Overall, some evidence has been found that earnings are managed downwards prior to stock option grant periods. Consistent with the US-based studies, this thesis finds strong evidence of upward earnings management prior to a stock option exercise period. It shows that the UK’s distinctive governance features have not restrained opportunistic earnings management prior to stock option grants and exercises. In brief, this thesis provides some empirical evidence that the use of two pay components in the CEO pay package, namely, the defined-benefit pensions and stock options, do not necessarily promote CEO-shareholder interest alignment. The use of pay consultants in CEO pay-setting is also fraught with managerial influence. In support of the managerial power theory, I therefore suggest that these three factors can be abused by CEOs to extract excess compensation at the expense of shareholders. In this context, these three factors can themselves be considered as the sources of the agency cost. Future research might examine the mechanisms that can be deployed to govern the use of defined-benefit pensions, stock options and pay consultants in CEO pay design.
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Elzahar, Hany. "Determinants and consequences of Key Performance Indicators (KPIs) reporting by UK non-financial firms." Thesis, University of Stirling, 2013. http://hdl.handle.net/1893/19767.
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The study examines the level of quantity and quality of Key Performance Indicators (KPIs) reporting for a sample of FTSE 350 UK listed companies over the period (2006-2010). Furthermore, it identifies the determinants of KPIs reporting and investigates its impact upon firm value. Based upon the guidance of the best practice recommended by the Accounting Standard Board (2006), the study develops a measure of disclosure quality by considering the main qualitative attributes of information which, arguably, makes KPIs information more useful to stakeholders. The distinction between disclosure quantity and quality in the study enables the researcher to get greater insights into the drivers and implications of KPIs reporting quantity and quality. The study finds a variation between UK firms in the number of KPIs disclosed with a notable low level of reporting quality, especially for non-financial KPIs. It also finds that corporate governance mechanisms play an important role in improving KPIs reporting. In particular, it shows that directors’ compensations affect the quantity and quality of KPIs disclosure. Furthermore, the study provides evidence that quantity and quality of KPIs disclosure are not derived by the same factors, and both have different impacts on firm value. Whereas, the study finds a negative association between the numbers of KPIs disclosed and firm value, a non-significant relationship is reported between KPIs reporting quality and firm valuation. Overall, this study provides evidence that disclosure quantity is not a good proxy for disclosure quality.
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Lee, Tung Jean. "Determinants and outcomes of foreign acquisitions : explaining and evaluating the investment decisions of multinational enterprises." Thesis, University of Oxford, 2002. http://ora.ox.ac.uk/objects/uuid:f1420ada-12ac-4784-8704-039cd0160ce2.
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This study investigates the causes and consequences of acquisitions primarily foreign acquisitions undertaken by UK publicly listed firms. Firm- and country-specific factors are found to influence the propensity to acquire and the location of the acquired subsidiary. Indicators of a firm's organisational experience, such as firm size, profitability, and its investment history, increase the probability that an acquisition (relative to no acquisition) is undertaken. Larger and more profitable firms are also more inclined to invest abroad (rather than at home), as are firms engaged in RandD activities. In choosing among foreign locations, an increase in country-specific uncertainty (proxied by exchange rate and stock market volatility) deters a firm from investing in that location. Likewise, at the firm level, uncertainty is found to discourage a firm from acquiring (relative to not acquiring), and to deter an acquirer from undertaking a foreign (relative to a domestic) acquisition. Based on changes in industry-adjusted profit levels, acquiring firms in general perform poorly after making large foreign acquisitions. However, examining profit variability reveals interestingly that firms more likely to experience a decline in profit levels are also more likely to enjoy a reduction in profit variability, and vice versa, which suggests that a risk-return tradeoff could be a consideration when acquisitions are undertaken. When acquisition performance is evaluated on the basis of a firm's share price response to its acquisition announcement, the event study shows no evidence of negative performance. Resolving this discrepancy between the two performance measures leads us to examine the reliability of the stock market as an indicator of acquisition outcomes. On the one hand the immediate stock market reaction has some ability to predict a firm's postacquisition performance, while on the other post-acquisition stock returns are shown to be not completely consistent with market efficiency.
Books on the topic "Directors of corporations, great britain"
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Morris, Glynis D. Tolley's finance director's handbook. 4th ed. London: Tolley, 2007.
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Keay, Andrew R. Directors' duties. Edited by Kosmin Leslie. Bristol: Jordans, 2009.
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Simon, Mortimore, ed. Company directors: Duties, liabilities, and remedies. Oxford: Oxford University Press, 2009.
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Simon, Mortimore, ed. Company directors: Duties, liabilities, and remedies. Oxford [UK]: Oxford University Press, 2009.
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Great Britain. Department of Trade and Industry. Amendments to schedule 6 to the Companies Act 1985: Disclosure by companies of dealings in favour of directors : a consultative document. [London, Eng.]: The Dept., 1991.
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Loughrey, Joan. Directors' duties and shareholder litigation in the wake of the financial crisis. Cheltenham, UK: Edward Elgar Publishing Limited, 2013.
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Stafford, Andrew. Fiduciary duties: Directors and employees. Bristol: Jordan Publishing Ltd., 2008.
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McIver, Malcolm. Bremmner plc: Investigation under section 442 of the Companies Act 1985. London: H.M.S.O., 1989.
Find full textBook chapters on the topic "Directors of corporations, great britain"
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Kildea, Paul. "‘As You Like It’ Walton’s Music (1936)." In Britten on Music, 21. Oxford University PressOxford, 2003. http://dx.doi.org/10.1093/oso/9780198167143.003.0006.
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Abstract That the directors of 20th Century Fox Film Corporation should have invited one of the 20th century stars of British music to write for one of its biggest productions is very creditable indeed.1 But the invitation seems to have exhausted their enterprise. His name, perhaps symbolically, is absent from the programme, and the opportunities he has had for writing serious film music seem negligible. There is, of course, the Grand Introduction over the credit titles-pompous and heraldic in the traditional manner. There is a Grand Oratorio Finale with full orchestra, based on Elizabethan songs, in which a bunch of Albert Hall contralti is very prominent. Both these are written with great competence, andindeed Walton is incapable of any sort of inefficiency.But apart from suitable Waldweben2 noises at the beginning of each sequence, which tactfully fade out as the action starts, that is the whole of Walton’s contribution to As You Like It.Once [sic] cannot feel that the microphone has entered very deeply into Walton’s scoring soul.3 A large orchestra in which strings are very prominent has been used, and in the accompanying pastoral music one is conscious of the energetic ranks of the London Philharmonic sweating away behind the threeply trees.
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Painter, David S., and Gregory Brew. "A Crisis in the Making, 1901–1951." In The Struggle for Iran, 10–36. University of North Carolina Press, 2023. http://dx.doi.org/10.5149/northcarolina/9781469671666.003.0002.
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In the first half of the twentieth century, Iran formed part of a global oil economy dominated by private Western corporations. It was also a focus of great power competition, and Great Britain and Russia often intervened to secure economic concessions and power over Iran’s political system. Following the discovery of oil in Iran in 1908, a British company developed the country’s oil industry with little interference from the Iranian government. Following the war-time occupation, Iran became embroiled in the global Cold War, with the United States taking special interest in Iran’s oil and strategic position. At the same time, a nationalist movement led by Mohammed Mosaddeq arose to challenge the British position in the oil industry, culminating in the nationalization crisis that began in early 1951.
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Cooper, Sandi E. "Pacifism and Internationalism: The Creation of a Transnational Lobby 1889–1914." In Patriotic Pacifism, 60–88. Oxford University PressNew York, NY, 1991. http://dx.doi.org/10.1093/oso/9780195057157.003.0004.
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Abstract From 1889 to 1914, this “great party” grew to include approximately three thou sand European and North American activists coordinated in over one hundred national and regional peace societies. Most came from the nations between the Ural Mountains and the Rockies; in Japan, Australia, and Argentina a few activ ists organized societies. During the same years, the generation of peace activists finally created a trans national network. The multiplication of peace societies occurred in nearly every European state (even tsarist Russia in 1910).2 In France, Great Britain, Italy, Germany, Belgium, Denmark, Sweden, and Norway, national councils were created, some with paid directors. In 1892, peace societies established the International Peace Bureau in Berne to coordinate as unified a position as was possible among groups with widely differing philosophies. Membership surged in 1899–1900, partly in response to the First Hague Peace Conference of 1899 and to the enthusiasm that a new century inspired. Arnaud’s characterization of the movement as a “great party” was not an exaggeration.
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Robertson, Frances. "Photography and Illustration." In The Edinburgh History of the British and Irish Press, Volume 3, 265–79. Edinburgh University Press, 2020. http://dx.doi.org/10.3366/edinburgh/9781474424929.003.0013.
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This chapter examines press images as an interaction between visual and technological/ economic constraints and opportunities of print technology in dialogue with other mediums of mass communication throughout the twentieth century, including an account of different workers and their expertise in visual production such as printers, graphic designers, art directors or commercial photographers. The opening question was why and how news images (initially technically challenging and expensive) have only gained in importance across the twentieth century. In addition, the narrative scope across Britain and Ireland in this collected press history allowed this chapter to engage with the role of news images in processes of nation building since the rise of Irish independence and to offer a different analysis from other accounts of visual journalism in press history, which may be either more general in scope, or focused on one specific time or place. Instead, the chapter examined diverging practices under the local cultural conditions developing in Ireland (South and North) and Great Britain, and the role of images within the ‘imagined communities’ sketched by particular publications as varied as Picture Post or An Phoblacht.
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Truxes, Thomas M. "Crisis, 1763–1773." In The Overseas Trade of British America, 231–63. Yale University Press, 2021. http://dx.doi.org/10.12987/yale/9780300159882.003.0007.
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In chapter 6 of The Overseas Trade of British America, postwar recession coincides with London’s attempt to tighten its control over colonial trade. First came the Customs Enforcement Act of 1763, a law that deputized naval officers as customs agents. Prosecutions garnered wide public attention, and Americans pushed back against prize-hungry naval officers, customs officials, and vice-admiralty courts. Clearly, salutary neglect was over. The Sugar Act of 1764 ushered in even stricter enforcement of laws governing trade, and the Stamp Act of 1765 asserted Britain’s authority to tax its American colonies. Americans responded with a campaign of political action and boycott that led to repeal of the Stamp Act. But new duties on paper, paint, lead, glass, and tea in 1767 signaled the determination of Parliament to proceed. In 1770, the renewed threat of boycott resulted in repeal of these “Townsend Duties” — except that on tea. Trade immediately revived. Then in June 1772, Great Britain, Ireland, and the British colonies in America fell victim to a credit crisis whose severity threatened the commercial and financial structure of the empire. Teetering on the edge of collapse was the greatest of Britain’s chartered corporations: the East India Company.
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James, Simon. "Project Context Rediscovery and Exploration." In The Roman Military Base at Dura-Europos, Syria. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780198743569.003.0015.
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The ruined city known locally as Salhiyeh was virtually unknown to western scholarship until the twentieth century (Sarre and Herzfeld 1920, 386–95; Kaizer 2017, 64), but its ancient identity remained unknown until the aftermath of the World War I when collapse of the Ottoman empire saw Britain and France divide up much of the Middle East between them (Velud 1988; Barr 2011). As we saw, during operations against Arabs resisting the new western occupation, British-commanded Indian troops bivouacking at the site dug defensive positions and accidentally revealed wall paintings. These were seen and published by visiting American archaeologist James Henry Breasted (Breasted 1922; 1924), who first identified the ruins as those of the historically attested but unlocated ‘Dura . . . called Europos by the Greeks’ (Isidore of Charax, Parthian Stations, 1). The site thereafter fell inside the newly imposed borders of French-controlled Syria (Velud 1988). More substantial excavations were conducted and published with exemplary speed by Franz Cumont in 1922–3 (Cumont 1926), paving the way for the great Yale University/French Academy expedition overseen by Mikhail Rostovtzeff. This ran over ten seasons: (Dates from the Preliminary Reports, and Hopkins 1979, xxii–xxiv, except ninth and tenth seasons from information in Yale archives provided by Megan Doyon and Richard A. Grossmann.) With a Roman military presence attested from the outset, further traces were encountered throughout the city’s exploration, with the heart of the military base area being identified and excavated in the fifth season, and the great ‘Palace of the dux ripae’ in the ninth. While masterminded by Rostovtzeff, and more nominally Cumont, these giants actually only briefly visited the excavations on a couple of occasions. The dig was conducted under a series of field directors: Maurice Pillet, Clark Hopkins, and finally Frank Brown. These led a small team of American and European architects, artists, and archaeologists, mostly male (although women occupied prominent places on the team, including Yale graduate student Margaret Crosby and most notably Hopkins’s wife Susan); they were mostly young and inexperienced (including Hopkins and Brown).
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"Document 3: A Report from Governor Peter Chistyakov to the Board of Directors of the Russian-American Company about the Impact of the Conventions of 1824 and 1825 with the United States and Great Britain on the Russian-American Company’s Trade." In “Opposition on the Coast”: The Hudson’s Bay Company, American Coasters, the Russian-American Company, and Native Traders on the Northwest Coast, 1825-1846, 93–96. Toronto: The Champlain Society, 2019. http://dx.doi.org/10.3138/9780772764430.003.
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Bonner, Thomas Neville. "The Lives of Medical Students and Their Teachers (Late Eighteenth and Early Nineteenth Century)." In Becoming a Physician. Oxford University Press, 1996. http://dx.doi.org/10.1093/oso/9780195062984.003.0007.
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The lives of students in all periods of history are difficult to recapture. Only scattered correspondence and occasional diaries can normally be found to give us a firsthand look at their experiences. Less satisfactory but still useful are the accounts of teachers, often written long after the events they describe, as well as the memoirs of former students, usually composed with nostalgia toward the close of their careers. Enough evidence does exist, however, to provide at least some glimpses into the student culture of past eras. In this chapter, we trace the social origins of medical students from about 1780 to 1820 and describe something of their lives in and out of the classroom as well as give some account of medical teachers and teaching of the same period. No more uncertain time in the life of a medical student can be imagined than the unsettled years after 1780. Both Europe and America were convulsed by war during much of the period and by fears of the spreading revolution in France. Students everywhere were being pressed into military service; academic enrollments dropped on both continents; and demands for military surgeons had become desperate. Deans and directors of medical schools pleaded with governments to spare their students from army service. In 1799, for example, the director of the French school at Montpellier asked his counterpart in Paris to join him in a last effort to save students from the huge call to arms of that year. Some medical schools were suddenly closed during the years of war; others were reorganized; and everywhere standards fell rapidly. Most of the small number of American schools were forced to shut down during the War for Independence and were then slow to reopen. In Great Britain, the hope of recruiting more medical students needed for war service was dashed by “the reality of low pay, lack of respect and the physical dangers facing most recruits.” In revolutionary France, the medical schools were officially closed early in the Revolution; the title of doctor was disdained by equalitarian reformers; and near chaos prevailed in the hospitals.
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Beinart, William, and Lotte Hughes. "Oil Extraction in the Middle East: The Kuwait Experience." In Environment and Empire. Oxford University Press, 2007. http://dx.doi.org/10.1093/oso/9780199260317.003.0020.
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Oil has been the lubricant of international relations and industry since the turn of the twentieth century. The fabulous wealth it has generated for a clutch of individuals, states, and corporations has skewed global politics, fed human greed, fuelled conflict, and brought as much destruction as delight in its wake. The struggle for access to and control over oil was central to the final stages of imperial expansion, and the Middle East saw a regional equivalent of the ‘scramble for Africa’. European powers sought to carve up the area as the twentieth century turned, their eyes fixed on oil as the main prize. Central to our argument is that empire followed natural resources, in unpredictable ways. It created commodity frontiers that had enormous implications for routes of expansion and relations with local societies. The future of the Middle East, then under the sway of the crumbling Ottoman Empire, was already of great concern to Britain at the beginning of the twentieth century. But oil provided a new urgency, and shaped patterns of intervention; the history of the Middle East over the next century would have been profoundly different without it. Although capital became more mobile from the late nineteenth century, some of the most valuable natural resources in the twentieth-century Empire proved to be rooted to specific regions. In this sense, oil as a natural resource shaped the geography of empire, as had fur and forests before it. But the specific character of oil and of imperialism in the region (our focus is on Kuwait), resulted in rather different outcomes for local societies than those experienced on some other earlier commodity frontiers. Although the oil companies were largely foreign-owned, Middle Eastern people were, to a much greater degree, beneficiaries of resource extraction. In this respect, there are parallels with Malaysia. An important concern in this chapter is to chart the impact of oil on Bedouin pastoralists in Kuwait, their use of the desert, and its environmental implications. We also explore briefly other environmental impacts of oil exploitation. These are issues less frequently rehearsed than the political and economic consequences. The energy needs of the metropolitan world led to increasing demands for oil as the twentieth century advanced.
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"distrust of the intellectual, typical of British art circles, and other factors of British theatrical life, has led to the assumption by many that to ‘think’ about performing will inhibit the ‘feeling’ necessary to the creative act. To cap it all, of course, Brecht actually set himself against naturalism as a style or intent, and thus (or so many practitioners assumed for some time) also set himself against the development of a clear emotional line in performance – another black mark for him from a theatre that prided itself on its ability to ‘move’ an audience by a truthful display of deep sentiment. The great British actor Alec Guinness wrote in 1949 in answer to an article by Brecht on acting: I find his theories cut right across the very nature of the actor, substituting some cerebral process for the instinctive and traditional accumulation of centuries . . . I believe in the mystery and illusion of the theatre which Brecht seems to despise. And yet the part of the British theatrical tradition that is built on the performing of Shakespeare so often brings the performer very close to Brechtian notions of theatre. Brecht’s own generous accolade to the bard – that his was a truly epic form – is a strong testimony here; and as many practitioners acknowledge (and are quoted in subsequent chapters of this book), the natural inclination of British actors towards ironic story-telling, so familiar to us from Shakespeare, makes them easy converts to Brechtian practice. Until the mid-1950s, only among a small band of left-wing enthusiasts was Brecht’s work actively supported in Britain. The great boost to the development of a public for the play-wright came from the first visit to London by his company, the Berliner Ensemble, in 1956 – shortly, that is, after his death. Since the Berliner performed in German, it is not surprising that the major impact they had was on ‘theatrical style’, on the visual and physical aspects of production, rather than on thematic content. A number of British directors and designers were immediately struck by the bareness and simplicity of the company’s staging, the careful detail lavished on and produced in costumes and props, and the robust clarity and exuberance of the acting. These responses led to a small crop of British productions of Brecht plays in the late 1950s and early 1960s, but these received somewhat mixed reviews. The feeling persisted that there was something wrong with the plays themselves, acceptability of which was certainly not helped by the difficulties of translating Brecht’s specialised verbal language. The archaic words and phrases, unusual rhythms, poetic word order, and so on, proved, and continue to prove, a challenge to any translator. And the early British productions of Brecht appeared to suffer from either an over-fidelity to ‘Brechtianism’ as understood by the performers, or from a lack of understanding of the essential combination in Brecht of socio-political meaning and theatrical fun. Even critics who admired these early productions sometimes felt (and declared) that they had to overlook or ignore Brecht’s politics in order to enjoy the performance." In Performing Brecht, 14. Routledge, 2002. http://dx.doi.org/10.4324/9780203129838-10.
Full textConference papers on the topic "Directors of corporations, great britain"
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Rudenok, Olha. "Strategic tools for optimizing the ownership concentration in the corporate sector." In Conferinta stiintifica internationala "Strategii si politici de management in economia contemporana", editia VII. Academy of Economic Studies of Moldova, 2023. http://dx.doi.org/10.53486/icspm2022.08.
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The article contains research on the listing requirements for shareholder ownership, established by stock exchanges of different countries. Stock exchanges of such countries as Ukraine, USA, Japan, Great Britain, Italy, Germany, France, China, and Poland were considered for comparative analysis of listing requirements. Among the requirements for shareholder ownership of issuers were considered: the minimum Free float, the number of shareholders, the share price, the market capitalization of the tradable shares, the number of tradable shares, and requirements for minority shareholders. Also, the issue of compliance with the requirements of listing as a strategic tool for optimizing the ownership concentration was investigated. The prospects of the Ukrainian corporate sector in terms of compliance with the established listing requirements (from the standpoint of requirements for the shareholder ownership structure) were assessed. Optimizing the ownership concentration of corporations involves the distribution of ownership rights among shareholders, which will help to increase the efficiency of the company and ensure the achievement of its strategic goals.