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1
Gautier, Estelle. "A Theory and Process Evaluation of the Umhlathuze Water Stewardship Programme of the International Water Stewardship Programme." Master's thesis, Faculty of Commerce, 2019. https://hdl.handle.net/11427/31772.
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Water is a scarce resource without which human survival is at risk and major economies would collapse if not carefully managed. Water stewardship involves collaboration between role players from the public- and private sector as well as civil society to effectively mitigate some of the water related risks and improve water security. Good practice examples of water stewardship have been captured in only a limited number of international studies through the work of a few organisations driving adoption of stewardship practices. Most of these are internal documents and remain unpublished. There are a few local, unpublished studies that are specific to water stewardship as an approach to water resources management in South-Africa. A comprehensive literature review on water resource management institutions in South published between 1997 and 2011, shows that research is predominantly focused on catchment management agencies (CMA) than on other entities such as international water management bodies, water user associations or water irrigation boards (Meissner, 2013) The uMhlathuze Water Stewardship Programme (UWaSP) is a South African programme selected to evaluate if the programme has been established against globally recognised good practices of water stewardship and to what extent it has been implemented accordingly. The programme is part of an international water stewardship programme which provided an ideal opportunity to evaluate a local programme against a global good practice model. The international literature on water stewardship as well as literature on adaptive co-management approaches to water resources management enabled the development of a consolidated global good practice evaluation model of water stewardship. The research included consideration of contextual influences that may have enabled or hindered the implementation of the establishment of the water stewardship programme. The South African literature shows that a specific type of integrated water resources management ( IWRM) , catchment management associations (CMA’) share certain adaptive co-management elements with a water stewardship approach to water management. These include three concepts extracted from the literature namely collaborative stakeholder engagement, adaptation through learning (experimentation) as well as a bioregional approach to water resources management which means implementation of management structures at the river basin level (Meisner, 2016). The local contextual factors influencing implementation of the UWaSP and commonalities with CMA’s are considered during the discussion, against the background of the findings of local studies.
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Mills, David Ernest. "The stewardship performance of forms of privatised water infrastructure." Thesis, Queensland University of Technology, 2014. https://eprints.qut.edu.au/78660/2/David_Mills_Thesis.pdf.
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In this research Agency Theory and Stewardship Theory are used to analyse the relative performance of different forms of privitisation of water infrastructure and in doing so enriches understanding of previously underdeveloped aspects of both theories. The prior Agency Theory literature had established assumptions about the behaviour of principals and agents in contracts and these were found not to be correct in the context of contracts between modern government and private organisations. Agency theory was extended to include steward-like behaviour of an agent and Stewardship Theory was developed by the identification of factors within the contractual relationship which promote the sense of responsibility to the principal. The alliance, joint venture and Build Own Operate Transfer (BOOT) forms of privatisation were found to achieve stewardship of the infrastructure.
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Humphrey, Duchess Deidre. "A Study of Nonprofit Governance through the Lens of Stewardship Theory." Thesis, University of North Texas, 2020. https://digital.library.unt.edu/ark:/67531/metadc1703358/.
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This dissertation examines the association between independent governance structure and various measures of good governance. The evaluation draws on observations of a dataset of 101 Texas public charities, in particular the organization's self-disclosed governance-related activities as reflected in the transparency, monitoring, and strategic tools available to the public. The study reveals that two measures of good governance are associated with an identified independent governance structure at the organizational level. In managing the governance of the organization, the study finds evidence that less emphasis is placed on the constituted strategic direction clauses listed in the articles of incorporation of the organization. The research suggests that each of the fiduciary stewardship concerns need to be addressed by the legal governing body in order to fulfill good governance as an outcome quality measure.
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Li, Y. (Ying). "Users’ information systems (IS) security behavior in different contexts." Doctoral thesis, Oulun yliopisto, 2015. http://urn.fi/urn:isbn:9789526209395.
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Abstract Users’ information systems (IS) security behavior continuously draws attentions from scholars and practitioners. While previous studies usually focused on one context (e.g., employees’ compliance with IS security policies in an organizational context), little research has focused on the possible explanations for users’ IS security behavior if the context changes. To address this gap, this dissertation discusses the role of context in IS security behavior research. An analysis of the differences between the organizational context and the home context suggests a need to study users’ IS security behavior solely in a specific context, such as home. This study provides guidelines for applying and developing contextualized theories in IS security behavior research. Based on the guidelines, this dissertation includes two empirical studies. First, drawing on rational choice theory, it compares specific IS security behavior in two contexts: the work context (N = 210) and the personal context (N = 202). Second, drawing on stewardship theory, this dissertation develops a contextualized theory explaining employees’ IS security risk-taking behavior in the organizational context (N = 170). The findings of this dissertation show different explanations for users’ IS security behavior in different contexts and highlight the importance of taking context into account when doing IS security behavior research. The results of each empirical study provide both theoretical contributions to research as well as actionable advice to practiceTiivistelmä Tietokoneenkäyttäjien tietoturvakäyttäytyminen on jatkuvan kiinnostuksen kohteena niin tutkijoiden kuin käytännön ammatinharjoittajienkin keskuudessa. Aiempi tutkimus on keskittynyt tarkastelemaan tietoturvakäyttäytymistä yleensä yhdessä kontekstissa (esim. työntekijöiden tietoturvaohjeiden noudattaminen organisaatiokontekstissa), kun taas vähemmälle huomiolle on jäänyt se, kuinka kontekstin muuttuminen selittää tietoturvakäyttäytymistä. Tämä väitöskirja vastaa kyseiseen ongelmaan, sillä se käsittelee kontekstin roolia tietoturvakäyttäytymistutkimuksessa. Tutkimuksessa analysoidaan organisaatiokontekstin ja kotikontekstin eroja. Analyysi osoittaa, että on tarpeellista tutkia tietokoneen käyttäjien tietoturvakäyttäytymistä tietyissä konteksteissa, kuten esimerkiksi kotikontekstissa. Tutkimus tarjoaa ohjeita siihen, kuinka kontekstisidonnaisia teorioita sovelletaan ja kehitetään tietoturvakäyttäytymistutkimuksessa. Väitöskirja sisältää 2 empiiristä tutkimusta, jotka pohjautuvat edellä mainittuihin ohjeisiin. Ensimmäisessä vaiheessa tutkimuksessa sovelletaan rational choice -teoriaa, jonka pohjalta vertaillaan tiettyä tietoturvakäyttäytymistyyppiä 2 kontekstissa: työkonteksti (N = 210) ja henkilökohtaisen käytön konteksti (N = 202). Toiseksi, tutkimus soveltaa stewardship -teoriaa ja kehittää siihen pohjautuen kontekstisidonnaisen teorian, joka selittää organisaation työntekijöiden käyttäytymistä liittyen tietoturvariskin ottamiseen (N = 170). Väitöskirjan tutkimustulokset esittävät erilaisia selityksiä tietokoneen käyttäjien tie-toturvakäyttäytymiselle eri konteksteissa. Tutkimus korostaa sitä, kuinka tärkeää on ottaa konteksti huomioon tutkittaessa tietoturvakäyttäytymistä. Kummankin empiirisen tutkimuksen tulokset tarjoavat teoreettisen kontribuution lisäksi käytännöllisiä neuvoja tietoturvan toteuttamiseen
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Rispel, Reginald. "International Perspectives on the Proper Role of the Independent Director: Implications for South African Boards of Directors." Thesis, University of the Western Cape, 2008. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_9484_1264466854.
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This literature study aims to identify international best practice concerning the role of the board and more particularly that of the independent director in ensuring good corporate governance. The study is based on sources which include a large contingent of up to date sources on the subject ranging from newspaper articles, journal articles, various corporate governance codes, company reports and reports on governance such as Cadbury and Higgs.
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Placier, Klára. "Vliv recese na uplatňování Corporate Social Responsibility." Doctoral thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2011. http://www.nusl.cz/ntk/nusl-233742.
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During the last few years, companies have had an increasing interest on playing a more significant role in society, besides their merely economic function. Corporate Social Responsibility (CSR) has become a relevant concept leading them to do so. However, after the recent economic decline, the business model of most corporations had to be reviewed, including the CSR policy. This dissertation work discusses the impact of recession on CSR. The topic is highly relevant, since the consequences of the economic crisis have still a strong influence on business environment, in the form of a degrading level of trust and a decline of moral commitment to society. In order to evaluate this phenomenon, a research was conducted in three companies that are engaged in long-term CSR. With case study as research method, the impact of recession on CSR has been identified and a trend for future development has been outlined. As one of the main conclusions of this research it was proved, that after the economic decline, rather than dismissed, CSR was re-aimed in a more efficient way. CSR has helped companies to survive better the economic crisis and has taught them, how it can be beneficial not only for business but also for the society.
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Sandahl, Carl, and Fredrik Tinglöf. "The purpose of CEO compensation in sports organisations : A qualitative study of CEO compensation in sports organisations from both a board perspective and a CEO perspective." Thesis, Jönköping University, Internationella Handelshögskolan, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-52731.
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Background: CEO compensation as a phenomenon is a well explored topic in both forprofit and non-profit organisations but limited research is made on sports organisations. Due to the important social role that sports organisations entails, one can argue for the need to investigate the purpose of CEO compensation in these organisations as well. Purpose: The main purpose of this study is to explore the purpose of CEO compensation in sports organisations. The purpose of executive compensation will further be studied from both a CEO perspective as well as from the board perspective. Method: This thesis has an abductive research approach and proceeds from previous theories within corporate governance to investigate the purpose of CEO compensation in sports organisations. The empirical part consists of a qualitative interview study to investigate if previous theories are applicable to explain the purpose of CEO compensation in these organisations or if there exists other, unexplored purposes. ii Findings: The findings of the study suggests that the view on the purpose of CEO compensation in sports organisations is different from the board perspective and the CEO perspective. From the board perspective, the purpose appears to be to control the behaviour of the CEO, to gain organisational legitimacy, to make the organisation more business-oriented and to attract individuals with shared interests. On the other hand, from the CEO perspective, the purposes appear to be to increase the motivation and to attain individual legitimacy.
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Francisco, Alecsandro Roberto Lemos. "Elementos de governança em cadeias de suprimentos: uma análise a partir da teoria da agência e Stewardship Theory." Universidade do Vale do Rio dos Sinos, 2016. http://www.repositorio.jesuita.org.br/handle/UNISINOS/6039.
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A governança das relações diádicas em cadeias de suprimentos é o tema central deste estudo. Nestas relações, existem fatores tais como poder, oportunismo e risco, que atuam sobre as interações entre as organizações, e que são denominados por Poppo e Zenger (2012) como condições de troca. Diante disso, cabem as relações diádicas, a busca por soluções capazes de contornar as eventuais adversidades que as condições de troca impõem e, assim utilizar elementos de governança. Entretanto, pouco se sabe sobre o que antecede a tomada de decisão de utilizar tais elementos de governança. O objetivo desta pesquisa é analisar como as condições de troca – oportunismo, poder e risco - explicam a utilização de elementos de governança. Como bases teóricas, foram utilizadas a teoria da agência e a stewardship theory, que apresentam elementos de governança estudados no campo de pesquisa da cadeia de suprimentos. Com esse intuito, desenvolveu-se uma pesquisa qualitativa explanatória, por meio de um estudo de caso único com unidades incorporadas. As unidades de análise são as relações diádicas de uma cadeia de suprimentos de uma organização multinacional, que atua no mercado brasileiro de elevadores. Os resultados desta pesquisa apontam que as condições de troca explicam a utilização de elementos de governança, por meio de cinco razões: a) a existência de condições de troca; b) as origens das condições de troca; c) a decisão do gestor em utilizar elementos de governança; d) a influência pessoal sobre a decisão do gestor; e) a decisão conjunta da relação diádica em utilizar elementos de governança. Entre as contribuições teóricas deste estudo infere-se a influência de ordem pessoal na decisão de utilização de elementos de governança; propõe-se que a governança da cadeia de suprimentos pode ser mais efetiva, mediante a utilização encadeada de elementos de governança; e argumenta-se que a complementariedade das teorias de base deste estudo é refletida nos elementos de governança. Nas contribuições empíricas são sugeridas a criação de uma diretriz corporativa para a cadeia de suprimentos da organização focal, bem como melhorar a comunicação com a cadeia de suprimentos, e por fim, avaliar as oportunidades de uma governança compartilhada da cadeia de suprimentos.
The governance of dyadic relations from a supply chain is the core subject of this dissertation. Within these relations, there are factors such as opportunism, power and risk acting over organizations interactions. Poppo e Zenger (2012) nominates these factors as exchange conditions. Facing that, the dyadic relations are challenged to find effective solutions, capable to deal with the adversities these exchange conditions imposes, and for that, apply governance elements. However, little is known about the decision taking background to apply these governance elements. The main objective of this research is to analyze how the exchange conditions – opportunism, power and risk - explains the application of governance elements in supply chains. For theoretical base, were used agency theory and stewardship theory, which presents governance elements studied at the supply chain research field. For this reason, an explanatory qualitative research was developed, through a single case study with embedded units. The units of analysis are the dyadic relations of a supply chain from a multinational organization that plays at the elevators Brazilian market. Two theoretical lenses cover this single case study analysis. The research outcomes drive that exchange conditions explains the application of governance elements through five reasons. The existence of exchange conditions; the exchange conditions sources; the manager decision to apply governance elements; the individual influence over manager´s decision; and the shared decision at the dyadic relation level to apply governance elements. Among the theoretical contributions of this study, is found the personal influence over the decision to apply governance elements; supply chain governance can be more effective, by the application of chained elements; and the complementarity of agency theory and stewardship theory can be reflected at the application of governance elements. At the empirical contributions is the suggestion to create a corporate regulation to supply chain governance, improve the supply chain communication to the focal organization and evaluate the supply chain shared governance.
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Davila, Juan Pablo. "Corporate Governance and firm value: evidence from Colombia and Mexico." Thesis, Cranfield University, 2014. http://dspace.lib.cranfield.ac.uk/handle/1826/9276.
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This research is the result of the author’s quest to answer the question whether
Corporate Governance is effective in Emerging Markets. Literature on Corporate
Governance in the emerging markets of Latin America is limited mostly due to the
relatively slower development of capital markets and the late adoption of
corporate governance principles. Corporate Governance laws, which largely follow
Sarbanes Oxley guidelines, were published and implemented in the mid 00´s and
no research has checked their impact on corporate value in Latin America.
This research reports compromises two empirical projects. The first project
focused on the relationship between boards of directors attributes such size and
composition, Corporate Governance law and firm value for Colombia. The second
project focused on another Corporate Governance variable, CEO Duality and tested
whether it has had any impact in Mexico. This second project also studied whether
board attributes such as size and composition and Corporate Governance law were
related to firm value.
Based on the listed companies from Colombia and Mexico for the years 2001 to
2012 the author found no relationship between board size or composition and firm
value. Results from Mexico, where CEO duality is allowed showed that it has no
relationship with firm value. These results do not support or contradict either
Agency theory or stewardship theory. Results on the impact of the adoption of a
Corporate Governance law in firm value are mixed. Results for Colombia contradict
previous literature by reporting a positive relationship between Corporate
Governance laws and firm results while results from Mexico support previous
research by reporting no relationship between these variables.
This research is valuable for regulators and policy makers in their quest to assess
the impact of the adoption of Corporate Governance laws in emerging markets. .
Since effective Corporate Governance is important in easier access to financing it is
important for shareholders to know which Corporate Governance mechanisms are
positively related to firm value. Similarly, it is also important for investors (both
foreign and local) in assessing the risk for equity investments in Colombia and
Mexico.
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Priba, Michael, and Jonatan Spector. "Styrning av projekt : Hur påverkas projektbeställarens och projektledarens arbete i projekt vad gäller kommunikation, tillsyn samt tillit?" Thesis, Karlstads universitet, Avdelningen för informatik och projektledning, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-28146.
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Uppsatsen utgår ifrån Agency- och Stewardship Theory samt Project Governance som bakgrund till att beskriva hur projektorganisationer arbetar med styrning av projekt. Studien ämnar skildra hur styrning av projekt påverkar projektbeställares och projektledares arbete i projekt vad gäller tillsyn, tillit samt kommunikation. För att göra detta är studien baserad på sju kvalitativa semi-strukturerade intervjuer med respondenter som verkar inom olika branscher på arbetsmarknaden. Datan från intervjuerna bearbetades sedan med s.k. deduktiv tematisk analys för att göra den mer presenter- och hanterbar. Agency- och Stewardship Theory är nära sammankopplade med Project Governance, även om de i sig själva är helt skilda. Agency- och Stewardship theory berör den eventuella problematik som kan uppstå när en uppgift delegeras från en part till en annan, något som är högst aktuellt i en projektorganisation. Project Governance är däremot ett ramverk vari det framkommer hur moderorganisationen vill att projekt förhåller sig till rörande ett antal parametrar. Vi har valt att presentera fyra olika perspektiv på Project Governance och en sammanställning av gemensamma drag i perspektiven är att Project Governance involverar ett antal styråtgärder så som att anpassa projektets syfte och mål med moderorganisationens, olika former av kontrollmekanismer och styrgruppens sammansättning. Det framkom i intervjuerna och sedermera i resultatet att inslag av Project Governance är ständigt påverkande och återkommande i samtliga av respondenternas arbetssituation. Det rör sig om generella styrmedel så som ekonomimöten med kunder eller entreprenörer och rapporteringsskyldigheter till fasta beslutspunkter och kontinuerliga möten med styrgruppen. Det främsta och kanske mest utpräglade resultatet är hur pass mycket tilltro det finns i s.k. partneringssamarbeten och hur styrningen blir allt mer komplex när allt fler företag blandas in.
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Burghausen, Mario. "Explicating corporate heritage identity stewardship theory from a corporate marketing perspective : a qualitative case study of Great Britain's oldest brewer." Thesis, Brunel University, 2013. http://bura.brunel.ac.uk/handle/2438/13067.
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Positioned within the corporate marketing domain, and adopting an explicit managerial perspective, this doctoral thesis advances knowledge in the form of a substantive and analytically generalisable theory of corporate heritage identity stewardship, which is derived from an empirical, theory-building, qualitative case study of Great Britain’s oldest brewer. In broad terms, corporate heritage identity stewardship theory articulates the particular management requirements of a corporate heritage identity in terms of two mutually constitutive dimensions namely (a) stewardship mindset and (b) enactment. Stewardship mindset refers to a shared awareness amongst management (i.e. positionality, heritage, and custodianship awareness) underpinned by specific managerial dispositions to feel, think, and act (i.e. sense of continuance, belongingness, self, heritage, responsibility, and potency). Enactment refers to the multi-modal implementation (i.e. narrating, visualising, performing, and embodying) of a corporate heritage identity and its relational positioning visà-vis stakeholders (i.e. temporal, spatial, and socio-cultural anchoring), which at once is predicated on and reinforces the stewardship mindset. The theoretical contribution of this study is significant in that it empirically confirms the existing, largely conceptual, literature in terms of the applicability and efficacy of the nascent corporate heritage identity construct per se. More importantly, it expands the extant body of literature by introducing a detailed theoretical explication of corporate heritage identity stewardship, which has important implications for future scholarly work. The study is, additionally, of instrumental relevance for corporate marketing management practice. First, it identifies different ways of implementing and anchoring a corporate heritage identity within societal environments vis-à-vis stakeholders, which can be utilised by organisations. Second, it articulates different enabling management dispositions, which help management to better understand the specific requirements of corporate heritage identity stewardship. The doctoral thesis articulates several avenues for future research (qualitative and quantitative) and provides – with the analytically generalisable corporate heritage identity stewardship theory – a new conceptual lense for future empirical and conceptual work within this nascent area of corporate marketing.
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Löfström, Johan, and Rebecka Gustafsson. "The Usage of the Perspectives Comprising the BSC from the Family Firm’s Point of View : A Case Study Influenced by the Spirit of Gnosjö." Thesis, Högskolan i Jönköping, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39612.
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Even though family firms play a significant role in the economy, research regarding family firms is relatively new and is still an emerging field of study. Family firms possess specific characteristics distinguishing them from nonfamily firms. Moreover, there are other issues within the family firm research that has not been fully explored, and one of them is management accounting and control. Researchers have suggested that more research is needed on performance measurement focusing on both financial and non-financial information. A tool that includes both financial and non-financial measures is the Balanced Scorecard (BSC). As family firms are influenced by its location, the phenomenon known as the spirit of Gnosjö will be taken into consideration throughout the thesis. The aim of this thesis is to explore the usage of the perspectives comprising the BSC in SME family firms operating within the region of Gnosjö. In order to fulfill the purpose, a case study was carried out. The data was collected by conducting interviews. Further, the sampling process resulted in interviewing 13 participants in four companies. The findings show that all four companies use the perspectives comprising the BSC, however, the findings also indicate that the usage is influenced by familiness and the companies’ location. Further, this study confirms that using stewardship theory in family firms is suitable, aligning with previous research, specifically in SME family firms. Finally, we can conclude that formalized management accounting systems are not fully prevalent among the family firms.
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Doleman, Robert G. "A study of facility management knowledge classification for the effective stewardship of existing buildings." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2013. https://ro.ecu.edu.au/theses/574.
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The aim of the study was to establish the Facility Management knowledge categories within the life cycle of a building context. The significance of the study stemmed from research undertaken into the compliance to Australian Standards 1851-17:2005 Maintenance of Fire and Smoke Doors within West Australian nursing homes, which demonstrated 87 per cent non-compliance. The level of non-compliance appeared to identify a lack of knowledge, and appropriately qualified and experienced personnel involved within the management of nursing homes (Doleman, 2008). The issues identified prompted the question on how facility management knowledge categories evolves and develops throughout the life cycle of a building.
The research used a three Phase, Grounded Theory interpretive analysis of the Facility Management knowledge construct. Phase One involved the examination of 21 international tertiary undergraduate Facility Managers courses. The course content was analysed and assessed through linguistic analysis to extract the knowledge categories and subordinate concepts. The findings identified 14 primary knowledge categories which were presented to 10 Facility Management experts for validation. Phase Two presented the findings of Phase One in a Multi Dimensional Scaling (MDS) survey instrument to Facility Management experts for dissimilarity assessments. The results from the 56 completed surveys were embedded within MDS software to present spatial knowledge proximity cluster analysis. The final phase was the validation of the research findings through semi-structured interviews of 10 industry experts, selected with consideration of heterogeneity in order to validate the findings of the previous phase.
The outcome of this study was to develop an understanding of the Facility Management knowledge categories within the life cycle of a building context and the identification of 14 core knowledge base, required as a Facility Manager practitioner. Core knowledge categories included Finance as a central theme within the Facility Management domain with Building Services and Business providing an indication as to the broad nature of Facility Management knowledge construct. Also identified within the research was the lack of legislative harmonisation between different states and territories within the Facility Management domain and the disparity between Facility Management practitioners with regards to knowledge context and application.
The role of Facility Management and their involvement within the lifecycle of a building was also identified within the research as being little or none during the design and construction phases of the building. The handover and management of the buildings to Facility Managers occurs within the occupancy phase of the buildings life cycle meaning that the building was inherited without due consideration of continued operational efficiencies or functionality affecting the overall cost effectiveness of the building.
Such outcomes lead to a number of recommendations such as a the introduction of central knowledge standard in order to provide context of definitions and well as the continued development and drive of Facility Management practitioners and associations to establish the Facility Management profession as a respected body.
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Gregory, Kieran Benjamin. "Fishers are doing it for themselves? Responsibilisation and the framing of fish habitat rehabilitation and stewardship." Thesis, Queensland University of Technology, 2018. https://eprints.qut.edu.au/122928/2/Kieran_Gregory_Thesis.pdf.
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The aim of this research is to understand the implications of the current framing of fisheries degradation and rehabilitation responsibilities in stewardship policy. By doing so, in this research the discursive strategies used to attribute blame for fish habitat degradation are identified, as is whether there is a dissonance between to whom blame is attributed and the stakeholder groups which the New South Wales Department of Primary Industries (NSW DPI)—the state government agency with policy responsibility for fisheries management—is advocating take responsibility for remedying the problem.
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Westergren, Eric, and Linn Hasselgren. "Does stakeholder pressure have an effect on the quality of the sustainability report?" Thesis, Umeå universitet, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-172187.
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Our planet suffers from severe climate change and environmental issues has never been as important as it is now. Countries and communities come together to get involved in environmental questions and to work against a sustainable future. Companies are also expected to take act on this concern and incorporate sustainability into their business practices. To account for this, company’s disclosure a sustainability report and the numbers of companies that do so has increased rapidly the last years. From 2011 to 2013 there was almost a 50% increase of submitted sustainability reports. Since then, sustainability reporting has gone from optional to mandatory as a new law came into place in 2016. However, as companies start to disclosure sustainability reports more than ever before, new issues have arisen. The lack of regulation means that there is no guarantee for quality in the report and studies has shown that the stakeholders demand higher quality and more transparency of the sustainability report. Thus, it could be of importance for companies to produce reports of better quality in order to meet the demands of their stakeholders. Retaining a good relationship is crucial and it affects the growth of the company as it affects competitive advantage and the possibility to manage risks. Previous literature has found evidence that stakeholder pressure has influence on the transparency, which has similarities to quality, of the sustainability reports globally. With this thesis we aim to contribute with additional information to existing literature with a new geographical area, Sweden. We also aim to contribute to understanding of how quality of the sustainability reports can be determined. The critical assessment of the sustainability reports from each stakeholder becomes more important and previous literature has shown that different stakeholders have different effect on transparency in the sustainability reports. First and foremost, the purpose of this thesis is to investigate if the pressure from different stakeholder groups has an effect on the quality of the sustainability report. We intend to do so with the following research question: Does stakeholder pressure have an effect on the quality of sustainability reports? The companies will be split into four different groups based on the industry the company operates within and the sub-purpose is to see if there is any difference in the impact on the quality of the sustainability reports between the different groups. The quality will be determined by adherence level to the GRI G4 framework, how many other standards and guidelines the report is in compliance with and the existence of external assurance. The population is the 127 companies who has their reports available in the GRI database. We have conducted a quantitative study using a linear regression analysis on those 127 companies. The results led us to the conclusion that the relationship between stakeholder pressure and the quality of the sustainability reports cannot be explained by the model used in this thesis. A two-sample t test was conducted for each group of industry to see if there was any difference of the mean of quality if the companies was represented in the industry or not. The results showed us that the mean of the quality was higher for the companies operating in an environmentally sensitive industry.
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Cetin, Nergiz, and Emmeli Boström. "Understanding Corporate Governance in the Financial Sector through Multiple -Theory : - A study of SFSA disciplinary cases towards financial organizations." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-179521.
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Purpose: Understand different needs for accountability and governance among financial firms,based on environmental and structural factors. Design/methodology/approach: By using disciplinary reports published by SFSA the interpretation of corporate governance regulation will be studied. Findings: The study identified important corporate governance factors which can be explained and understood by analyzing through the multiple-theory. Complex environmental aspects, such as regulations and multiple stakeholders, demands for extensive internal and external controls. However, the aspect of knowledge does not seem to be fully explained by previous studies. Originality/value: The result could be a contribution to further discussions on how regulations can develop. Moreover, the result can add empirical data to further develop the multiple-theory.
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Nílsson, David, and Myhre Mauritz Smedensjö. "CEO Power, Discretion and Firm Performance : The Moderating Role of Formal CEO Board Membership." Thesis, Linnéuniversitetet, Institutionen för nationalekonomi och statistik (NS), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-106068.
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Background: Formal CEO board membership is a unique feature of Swedishboards. The share of firms having Formal CEO board membership hassignificantly decreased in the last 20 years and thus, this feature might haveevolved to be used as a signal of high CEO quality. CEO quality is in turnlikely to, through Formal CEO board membership, serve as a moderator of therelationship that both CEO power and CEO discretion has to firm performancewhich has previously been somewhat ambiguous. Purpose: The purpose of this study is to explain how the CEO’s power anddiscretion is related to firm performance and if this relation is moderated byFormal CEO board membership. Method: To fulfill the purpose of this thesis, a deductive research approachwas used. The theoretical model used is built on four theories namely,Stewardship theory, CEO power, CEO discretion and Signaling theory. With a five-year interval stretching between 1998 to 2018, the quantitative empiricalmethod relies on compensation and financial data from Swedish firms. Conclusion: The results indicate that the relation that both CEO power andCEO discretion have to firm performance, consistent with the theoreticalmodel, is positive. The results further indicate that Formal CEO boardmembership as a signal of CEO quality can moderate these relationships. Thisfinding is, however, exclusive to the years after 2008.
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Hightower, Sonja. "Who Makes the Decision? Managerial Influence on Corporate Boards and Auditor Selection, Change, and Compensation." Thesis, University of North Texas, 2020. https://digital.library.unt.edu/ark:/67531/metadc1707251/.
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This dissertation examines whether managers influence corporate boards of directors in their auditor selection, change, and compensation decisions. This topic is important because it addresses concerns that the Sarbanes-Oxley Act of 2002 (SOX) is not effective in eliminating managerial influence over auditor engagement decisions and that it may provide a false sense of security to investors. These concerns are based on the implicit assumption that managers prefer weaker governance oversight and lower audit quality. However, empirical research testing associations between managerial influence and audit-related decisions post-SOX is scarce and generally guided by agency theory. Incorporating agency, stewardship, and resource dependence perspectives, I find that managerial preferences for auditor selection are not aligned. Specifically, CEOs positively influence the selection of higher quality auditors, whereas CFOs have the opposite effect. Further, CEOs who hold powerful roles as chairs of their companies' boards of directors appear to mitigate the negative influence of CFOs and inside directors on audit quality. CEOs serving in dual roles also oppose auditor turnover when lower earnings quality prompt higher demand for audit effort. Finally, my study provides some evidence that management exercises downward pressures on audit fees, suggesting that managers utilize their authority beyond the regulations established by SOX to negotiate auditor compensation.
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Ahlström, Johannes, and Michaela Ficeková. "The relationship between current financial slack resources and future CSR performance. : A quantitative study of public companies in the Nordic Markets." Thesis, Umeå universitet, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-137563.
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Companies are expected to be good corporate citizens and fulfil expectations of both shareholders and stakeholders. Depending on their corporate objectives, companies undertake different CSR activities using their preferred financial resources. The relationship between these two notions is interesting to investigate in the Nordic context since companies in this geographical area are the global leaders in sustainability. We formulate the following research question as: What is the relationship between financial slack and the CSR performance in Nordic countries? As such, the purpose of this thesis is to investigate the underpinnings of whether companies choose to allocate their financial slack resources towards improving performance of CSR, or so called value creation. Doing so, we investigate the relationship between financial slack resources and CSR score. In adopting a regulatory position on the development of society, we conduct our research in accordance with the functionalist research paradigm, namely through commitment to the objectivist ontic and positivist epistemic research philosophies. We answer the research question using the deductive approach. Our research design is framed with an explanatory purpose relying on archival strategy to perform a quantitative study. The theoretical underpinnings for analysis comes in the form of legitimacy theory, the institutional differences hypothesis, Resource-based theory, slack resources theory, stakeholder and shareholder theory. We use multiple linear regressions to analyse cross-sectional data for the period between 2005 and 2015 collected from Thomson Reuters DataStream. Our result indicates that the relationship between financial slack and CSR performance in the following year is mixed with both positive and negative relationships being present. Our most important finding is a pattern indicating that during the year 2008 the relationship changed from being positive to negative. This implies that the more funds a company has at its discretion, the less likely it is for them to invest it in developing their CSR performance the following year. This could have severe negative implications on shareholders, stakeholders and society.
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Berglund, Amie, and Oskar Danell. ""Inte sjutton läser man alla de där papperna man får" : En kvalitativ studie om hur MiFID II påverkat Principal agent problem vid investeringsrådgivning." Thesis, Linköpings universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-158492.
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Bakgrund: Den tredje januari 2018 trädde EU-direktivet Markets in Financial Instruments Directive II (MiFID II) i kraft. Direktivet ämnar öka investerarskyddet genom att eliminera informationsasymmetri och intressekonflikter på finansmarknaden, och samtidigt harmonisera reglerna mellan EU-länder. Inom investeringsrådgivning innebär det nya regelverket ökad dokumentation, ett större fokus på att försäkra sig om att investerarna förstår risker, hårdare krav på hur avgifter kommuniceras och striktare regler kring incitament. Allt detta för att skydda investerarna, som ofta visat sig ha en bristfällig finansiell kunskap och ett lågt intresse för privatekonomi. Syfte: Syftet med uppsatsen är att utifrån värdepappersföretagens perspektiv skapa förståelse för vilken påverkan EU-direktivet MiFID II har haft på principal-agent problem som uppstår vid investeringsrådgivning. Genomförande: Uppsatsen är en kvalitativ fallstudie. Vidare har ett fenomenologiskt forskningsperspektiv använts, med en abduktiv ansats. Det empiriska materialet har samlats in genom semistrukturerade intervjuer med sammanlagt sju respondenter som alla jobbar på värdepappersföretag, vilka valdes ut med ett målstyrt bekvämlighetsurval. Resultat: Uppsatsen kommer fram till att principal-agent problemen inom investeringsrådgivning inte har eliminerats. Informations- asymmetrin är enligt vår tolkning av de traditionella teorierna närmast obefintlig, men utgör fortfarande ett stort problem på grund av investerarnas ointresse och relativt låga förmåga att ta till sig informationen. Vi argumenterar därav att dessa dimensioner bör inkluderas i teorin för vilka trösklar som kan orsaka informationsasymmetrin. Intressekonflikterna har reducerats, men finns till viss mån fortfarande kvar. Motivationen att agera i ett egenintresse har dock inte påverkats. Uppsatsen visar således på att MiFID II inte har förflyttat principal-agent relationen till en stewardship relation. Kunskapsbidrag: Det teoretiska bidraget gällande informationsasymmetri utmanar antagandet om att principalen vill ha information som är relevant för denne. Uppsatsen visar att så inte alltid är fallet. Förutom att det uppstår informationsasymmetri om det är kostsamt eller svårt att ta reda på agentens handlingar, kan det även uppstå i situationer där principalen är ointresserad av, eller oförmögen att ta till sig av informationen enligt vår mening. Vidare har MiFID II inneburit att det är svårare för agenten att tillgodose sitt egenintresse om detta strider mot principalens. Däremot har direktivet inte inneburit att den interna motivationen ändrats och det går därför inte att förutsätta att ett kontraktsförhållande som haft en principal-agent relation övergår till en stewardship relation när dessa problem elimineras. Genom en ökad förståelse för hur tvingande lagstiftningar påverkar principal-agent problem kan det empiriska bidraget hjälpa tillsynsmyndigheter i sitt arbete att hantera principal-agent problem. Uppsatsen skulle således kunna underlätta vidareutveckling av regleringen som finns idag, likväl som utformningen av framtida direktiv och lagar. Med ett utomstående perspektiv på vilka intressekonflikter som kan uppstå vid investeringsrådgivning skulle det empiriska bidraget också kunna vara gynnsamt för värdepappersföretag och deras arbete för att hantera intressekonflikter.Background: On January 3, 2018, the EU directive Markets in Financial Instruments Directive II (MiFID II) came into effect. The directive is intended to expand investor protection through eliminating information asymmetry and conflicts of interest in the financial market, while also harmonizing the regulations between nations within the EU. For investment advising, the directive results in more extensive documentation and stricter regulation of how fees and risks are communicated, as well as how incentives are handled; all with the aim of protecting investors. At the same time, the general public shows low interest in personal finance, as well as inadequate financial knowledge. Purpose: The purpose of this study is to further the understanding of how the introduction of the EU directive MiFID II has affected the principal-agent problem that arises during investment advising, from an investment firm perspective. Completion: This is a qualitative case-study which utilizes a phenomenological research perspective and an abductive approach. The empirical material has been collected through semi-structured interviews at investment firms with a total of seven respondents, whom were selected through goal-oriented convenience sampling. Conclusion: The study concludes that the principal-agent problems in investment advising have not been eliminated. According to our interpretation of the traditional theories, information asymmetry is nearly non-existent. Yet it remains a significant problem due to lack of interest and an inability to assimilate the information. Thus, we argue that the theoretical framework should be revised to include these barriers, as they may lead to information asymmetry. Conflicts of interest have been reduced, but still remain to some extent. Furthermore, the motivation to act based on self-interest still remain. Hence, the study shows that MiFID II has not turned the principal-agent relationship into a stewardship relationship. Contribution: The theoretical contribution to information asymmetry challenges the assumption that the principal is interested in all the information that is of relevance for them. The study show that this is not always the case. Apart from information asymmetry arising when ascertaining the actions of the agent is expensive or difficult, it can also arise due to the principal’s lack of interest or inability to assimilate the information. Moreover, MiFID II has made it more difficult for the agent to act in their own self-interest, should it deviate from the interest of the principal. The directive has not, however, affected the intrinsic motivation of the agent. Thus, we cannot assume that the elimination of these problems causes a principal-agent relationship to transform into a stewardship relationship. Through an increased understanding of how binding legislation affects principal-agent problems, the empirical contribution can help regulatory bodies in their work to mitigate the aforementioned problems. Hence, the study may help to not only expand existing legislation, but also in the development of future legislation and directives. By providing an outside perspective of what conflicts of interests could arise in investment advising, the empirical contribution could also be of use for investment firms in their work to identify and manage conflicts of interest
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Alexander, David. "THE IMPACT OF THREE BOARD CHARACTERISTICS, MODERATED BY CEO ATTRIBUTES, ON EARNINGS MANAGEMENT." NSUWorks, 2010. http://nsuworks.nova.edu/hsbe_etd/7.
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Earnings management has had consequence in financial disasters, such as Enron, WorldCom and Nortel. More recently, it is alleged in the Lehman bankruptcy, which ushered in a global financial meltdown. Yet despite increased regulation and focus on governance and auditing, researchers find that earnings management remains a common practice.
Accounting academics have responded to the earnings management problem by conducting studies using secondary data for governance variables and financial models to measure earnings management indirectly. Meanwhile, governance variables measured with secondary data now show little variability because of improved best practice and regulation, and there is strong evidence that the agency causal model and the earnings management measures are seriously flawed. This study uses a mixed-mode research model based on agency and stewardship theory to explain earnings management, and uses a more direct measure of its occurrence, namely the level of board information asymmetries and board monitoring and control actions, as a proxy for earnings management. Primary data is used to provide direct measures of important governance variables, which produce mixed results relative to earnings management using secondary data.
In a survey of 245 Canadian public company directors, this study finds that an independent chair, less busy directors, and a smaller board does reduce earnings management, but that this impact is strongly moderated by the CEO's attributes. A CEO with stewardship attributes reduces earnings management, and a CEO with agency attributes increases earnings management. There also is evidence in the study that agency conflict variables improve governance outcomes, in this case, reducing the level of earnings management, and that board processes around monitoring and control actions could be a problem.
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Huang, Chenglei. "Developing Circular Economy Capability: Antecedents, Mechanisms, and Outcomes in Chinese Manufacturing Industry." University of Toledo / OhioLINK, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=toledo1326778525.
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Björklund, Frida, and Hanna Dahlström. "Why have an Active Board of Directors? : A Quantitative Study of SMEs." Thesis, Umeå universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-124661.
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In Sweden all limited liability companies are required to have a board of directors. The board of directors’ task is to manage the business of the firm, but in recent years boards have been subjected to critical review in the media, questioning the tasks and structure of the board. Further, there are differences in the regulations regarding limited liability companies, depending on whether they are private or public companies. Moreover, a majority of the research within the area of corporate governance has been conducted on public companies. However, corporate governance in small and medium sized enterprises (SME) has in the last 30 years become a field of interest. Several scholars and doctorates have used different board roles to explain e.g. the tasks, demographics, and financial performance. The board roles are mainly derived from the agency-, resource dependence-, and stewardship theory. Many papers have come to the conclusion that a board of directors who performs their task, and/or have a certain board demography is beneficial to the firm. Hence, the board and its activity is of importance, however, a general image is conveyed that boards in SMEs rarely are active, but rather are seen as a necessary mean in order to have a firm. Due to this, the research question in this thesis is: What motivates small and medium sized firms to have an active board and are boards in Norr- and Västerbotten active? The criteria for having an active board has been derived from antecedent research and are further recommendations from StyrelseAkademien. Three different board roles have been used with the purpose of explaining the motivation behind having an active board. Further, this thesis has had a quantitative method, and in order to gather data a survey was sent out to board members in Norr- and Västerbotten. The results show that the motivation behind having an active board cannot be explained through the roles network and service of the board. The control role could partly explain the motivation behind having an active board of directors in SMEs in Norr- and Västerbotten, having a negative relationship to board activity. Moreover, due to the opposing results in terms of whether or not boards are active, an unambiguous answer could not be found. However, 49.1 percent of the sample is considered to be active. Lastly, the finding support that in order to have an active board, the firm must recognize a need to include outside directors.
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Kewitz, Martin, Clas Nordström, and Sören Salzwedel. "The Family Business in a Global Context : The Rationale behind Corporate Governance Structures in Subsidiaries Abroad." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-18200.
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Background: Family Businesses represent the highest proportion of businesses in the world (Lin, 2012). Globalisation offers new business opportunities for growth and in-ternational diversification. Generally the internationalisation of family businesses is a well-studied field in family business research (Kontinen & Ojala, 2009). Still, there are certain shortcomings when it comes to the specific area of corporate governance adapta-tion in family firms that open subsidiaries (Calabro & Mussolino, 2011). Hence, this paper analyses the proceedings of family firms that internationalise through a subsidi-ary. From a methodological standpoint, existing studies concerned with family business internationalisation focus on quantitative research approaches. The results of these in-clude some limitations, since they cannot account for questions such as how and why family firms proceed during diversification (Kontinen & Ojala, 2009). Purpose: The purpose of this study is to investigate the rationale behind corporate gov-ernance structures in family businesses, focusing on the special case of internationalisa-tion through a subsidiary. Frame of Reference: A summary of recent research regarding the three main issues family businesses, internationalisation, and corporate governance will be given in the frame of reference. This theoretical background will serve as the basis for a solid analy-sis of our empirical data. Method: A qualitative approach with an extensive literature review and a case study based on in-depth interviews with employees of the company Väderstad-Verken AB was chosen in order to fulfil the purpose. Conclusion: The rationale behind corporate governance structures when setting up a subsidiary abroad is driven by the ambition to preserve a family firms’ stewardship ori-ented culture and its informal structures. The result of this is better collaboration, which serves the mission of the business.
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Backlund, Carl-Oscar, and Viktor Granström. "Påverkar VD:ns aktieinnehav bolags finansiella prestation? : En kvantitativ studie om sambandet mellan VD:ns nivå av aktieinnehav inom bolaget och dess finansiella prestation." Thesis, Umeå universitet, Företagsekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-186680.
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Titel: Påverkar VD:ns aktieinnehav bolags finansiella prestation? - En kvantitativ studie om sambandet mellan VD:ns nivå av aktieinnehav inom bolaget och dess finansiella prestation. Författare: Carl-Oscar Backlund & Viktor Granström Handledare: Jörgen Hellström Problembakgrund och problemdiskussion Synen på VD:ns roll och dennes betydelse för ett bolag har ändrats mycket genom åren. I modern tid anses en VD vara ytterst ansvarig för bolagets verksamhet, med lagstadgade uppgifter, men också samtidigt vara ansiktet utåt mot media och press. Hur pass stark är korrelationen mellan bolaget prestation och dess VD? Många börsnoterade bolag väljer att knyta VD:ns finansiella kompensation till dess aktiekurs, och på så vis få VD:n att börja arbeta mer utifrån aktieägarnas intressen. Andra bolag väljer att tillämpa olika typer av incitamentsprogram. Huruvida VD:ns aktieägande inom ett bolag påverkar bolagets prestation är studerat ur ett internationellt perspektiv, men det saknas forskning på svenska bolag. Vidare finns det ett flertal faktorer som särskiljer den position svenska bolag befinner sig i gentemot utländska bolag. Syfte Syftet med denna uppsats är att undersöka huruvida det finns ett samband mellan VD:ns finansiella incitament och bolagets finansiella prestation. Studien avser bolag listade på Nasdaq OMX Stockholm. Vidare är syftet att redogöra för relevanta teorier inom ämnesområdet för att därefter avgöra ifall det återfinns stöd för dessa utifrån studiens resultat. Metod Studien utgår ifrån en kvantitativ metod med en deduktiv forskningsansats där en tvärsnittsstudie tillämpas med hjälp av insamlade sekundärdata. Den data som samlats in är för bolag som varit listade på stockholmsbörsen under år 2019. Multipla regressionsmodeller har skapats för att undersöka huruvida samband existerar genom testande av hypoteser. Teori Agentteorin, stewardship-teorin, entrenchment-teorin, och det resursbaserade synsättet ligger till grund för studiens teoretiska referensram tillsammans med tidigare forskning kring ämnet. Empiri & slutsats Uppsatsens resultat tyder på att inga säkerställda samband mellan VD:ns nivå av aktieinnehav och den finansiella prestationen, operationaliserat som ROA och ROE kan återfinnas under räkenskapsåret 2019 på Stockholmsbörsen. Varpå studiens resultat genomförande finner stöd för stewardship-teorin, och därmed återfinns inget stöd för agentteorin respektive entrenchment-teorin på en 5% signifikansnivå.
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Basmaci, Talita Awabdeh Maikel. "Den verkställande direktörens ersättning : En jämförelse mellan fastighets-, finans och läkemedelsbranschen." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-30412.
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Purpose: The study aims to show if there is a significant relationship between the CEOs recompense and the size of the company between the industries. The goal is to compare the size of a company with the variable that shows performance and which of them who has the strongest connection to the recompense. Method: The essay stands on a quantitative approach where secondary data has been gathered from the year of 2015 annual reports. The population includes all the Swedish companies in the real estate-, finance- and pharmaceutical industry that are listed on the stock exchange. Selection has been made on 30 of these companies, 10 in each industry. With the statistical analyses the methods that have been used are multiple regression model and correlation analysis. Results: The results show that the company that paid the highest recompense in the real estate industry was Kungsleden. The company in the finance industry was Kinnevik and in the pharmaceutical industry it was Pfizer. Conclusion: After analyzing the result the conclusion can be made that there is a significant relationship between the CEOs recompense and the size of the company only in the real estate industry. When comparing the variable that dictates the size of the company (net sales) and the performance variable (MVA), the conclusion that can be made is that MVA has a stronger connection to the CEOs total recompense in the pharmaceutical industry in relation to the other industries. Within the finance industry there was no significant relationship with the CEOs recompense and the selected variables.
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Feldman, Alicia. "Environmental equifinality: (Re)Examining predictors of specific responsible environmental behaviours in Australian recreational fishing environments." Thesis, Queensland University of Technology, 2021. https://eprints.qut.edu.au/208423/1/Alicia_Feldman_Thesis.pdf.
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Environmental stewardship is essential to conserving recreational fishing areas. This thesis explores the characteristics of Australians engaged in such stewardship. A novel theoretical perspective (complexity theory) and methodology (fuzzy-set qualitative comparative analysis) uncovers complex configurational mechanisms, with multiple equifinal solutions identified as sufficient for performance of stewardship behaviours. Configurations predictive of stewardship differ between environmental organisation members and non-members. While there are numerous, varied configurations sufficient for performance among environmental organisation members, there are fewer among non-members, indicating only a specific subset of non-members perform these behaviours. These findings can inform targeted recruitment and engagement strategies for environmental stewardship participation.
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Edalova, Natalia. "Revisorns roll i svenska lokala partiföreningar : faktorer som påverkar revisorernas handlingsutrymme." Thesis, Högskolan Kristianstad, Fakulteten för ekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hkr:diva-20948.
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I Sveriges val 2018 fick åtta partier mandaten i Riksdagen: M, C, S, V, L, KD, SD och MP. Partiernas organisation finns på tre nivåer. Partiföreningen finns på lokal nivå och omfattar vanligtvis en kommun. Partidistriktet kallas den länsvisa organisationsnivån. Distriktsorganisationer är sammanknutna i en riksorganisation. Lokala partiföreningar är registrerade som ideella föreningar. På årsmöte väljer medlemmar styrelsen, kassör, revisorer och revisorssuppleanter. Revisorer valda på årsmötet kan vara en yrkesverksam revisor eller en lekmannarevisor det vill säga någon som ställer upp ideellt och som inte yrkesmässigt arbetar med revision. Revisorn skall ha en kontrollerande funktion i föreningen därför kommer det bli lärorikt att studera hur revisorerna lever upp till sin roll i svenska lokala partiföreningar. Revisorn roll i partiföreningar handlar om vilka möjligheter som finns för att kunna utföra det uppdrag som revisorn har i dessa föreningar. Det finns både interna och externa faktorer som påverkar revisorns handlingsutrymme. Dessa faktorer studerades för att skapa en tydligare bild av revisorns roll i lokala partiföreningar. Frågeställning: Vilka faktorer påverkar revisorernas handlingsutrymme i lokala partiföreningar? Syftet med denna studie är utforska faktorerna som påverkar revisorernas handlingsutrymme i dessa föreningar. Slutsats: samtliga intervjuade revisorer i de lokala partiföreningarna upplever att deras handlingsutrymme räcker gott och väl. Revisorerna är medvetna om sin kontrollerande roll. Deras granskningsarbete utgör också ett stöd och trygghet för medlemmar och för styrelsen. Resultatet kan användas för att öka kunskap om revisorns roll i lokala partiföreningar och göra partiföreningar medvetna om vilka faktorer som påverkar revisorernas handlingsutrymme samt klargöra vikten av dessa när partiföreningen utser revisorer i framtiden.In Sweden's 2018 elections, eight parties were given the mandate in Parliament: M, C, S, V, L, KD, SD, MP. The parties' organization exists on three levels: party associations at the municipal level and district organizations linked together in a national organization. Party associations at the municipal level are registered as non-profit associations. During annual meetings, members elect the board, treasurer, auditors, and deputy auditors. Auditors elected at the annual meeting may be a professional accountant or a lay auditor, i.e. someone who does not professionally work with auditing but who is volunteering. The auditor has a controlling function in the association, so it will be instructive to study the role of the auditors in Swedish party associations at the municipal level. The role of the auditor in party associations is about what possibilities exist to be able to do their job, which the auditor has in these associations. There are several internal and external factors that affect the auditor's discretion. These factors were explored to create a clear picture of the auditor's role in party associations at the municipal level. There is no previous research on which factors affect the auditor's discretions in party associations. The result can be used to increase knowledge of the auditor's role the municipal level as well as to make party associations aware of the factors that affect the auditors' scope and clarify the importance of these when the party association appoints auditors in the future. Question: What factors affect the auditors' discretions for party associations at municipal level? The conclusion of the study is that all auditor in party associations feel that their discretion is more than enough. The auditors are aware of their controlling role. Their audit work it is support and security to the members as well as the board. The purpose of this study is to probe the factors that affect the auditor's discretion within these associations.
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Claeson, Lisa, and Mikaela Mört. "Nedskrivning av goodwill i nordiska storbanker." Thesis, Högskolan i Skövde, Institutionen för handel och företagande, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:his:diva-17345.
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Bakgrund Sedan IFRS infördes 2005 skall goodwill inte lägre skivas av utan istället testas för nedskrivning minst en gång per år. Nedskrivningsprövningen har sedan dess kritiserats av flertalet forskare och ansetts vara ett ämne för earnings management (EM). Eftersom goodwill skall värderas till verkligt värde följer viss problematik, särskilt under lågkonjunkturer då det är svårt att förutspå hur långvarig den ekonomiska nedgången förväntas bli. Cykliska branscher, såsom bankbranschen, är känsliga för förändringar i konjunkturen och således borde sådana förändringar avspeglas i bankernas goodwillpost. Syfte Studien har två övergripande syften, dels att kartlägga nedskrivningar av goodwill i nordiska storbanker och dels att testa samband mellan dessa och olika konjunkturlägen, Big Bath Accounting och Income Smoothing. Målet med studien är att komplettera det redan befintliga forskningsområdet gällande EM vid nedskrivning av goodwill. Detta genom att ta konjunkturens påverkan i beaktning samt inkludering av nordiska storbanker. Metod Då tidigare studier inom området har exkluderat bankbranschen, var det just av denna anledning som banker valdes ut för studien. För att besvara studiens syfte och frågeställning föll sig en kvantitativ metod mest lämplig. Insamlad data från årsredovisningar perioden mellan 2006–2017 sammanställdes i statistiska modeller och tester och därmed kunde studiens resultat erhållas. Resultat & Slutsats Studiens resultat visar att varken konjunktur, utövande av Big Bath Accounting eller Income Smoothing signifikant påverkar nedskrivning av goodwill i nordiska storbanker. Studien kan därmed inte påvisa förekomsten av någon av dessa två strategier för EM, vilket motsäger tidigare forskning. Gällande konjunkturens påverkan på nedskrivning av goodwill föreligger en negativ korrelation där nedskrivningar tenderar att vara som störst under en lågkonjunktur. Dock har inget tydligt mönster för när nedskrivningar har gjorts kunnat urskiljas.Background Since IFRS was introduced in 2005, goodwill should no longer be amortized but instead be tested for impairment at least once a year. The impairment test has been criticized by most researchers and blamed to be a topic for earnings management (EM). Because goodwill is measured at fair value, certain problems follow. Especially during recession, when it is hard to predict how long the economic downturn is expected. The banking industry are particularly sensitive to changes in the business cycle. Therefore, should these changes should be reflected in their goodwill. Purpose This study has two main purposes, partly to identify impairments of goodwill in major Nordic banks and partly to test the statistical relationship between these and different economics conditions, Big Bath Accounting and Income Smoothing. The aim of the study is to supplement the existing research regarding earnings management and impairment of goodwill. This by taking different economic conditions in account and including Nordic major banks. Method Previous studies in the research area has excluded the banking industry, for this reason, banks were selected for our study. To answer the study's purpose and issue, a quantitative method fell most suitably. To be able to perform statistical models and tests to obtain a result, data was collected from each bank annual reports during 2006–2017. Results and conclusion The result of the study shows that neither the economic conditions, Big Bath Accounting or Income Smoothing has a significant impact on the impairment of goodwill in banks Nordic Large Cap. The study could not demonstrate the presence of any of these two strategies for earnings management, which contradicts previous research. Regarding the impact of economic conditions of goodwill impairment, there is a negative correlation where write-downs tend to be greater during a recession. Thus, no pattern for when write-downs of goodwill have been made.
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Chidziva, Bernard. "The Role of Corporate Governance in Preventing Bank Failures in Zimbabwe." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/3145.
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The 2008-2009 global financial crisis resulting in some banks collapsing has raised questions about the corporate governance of financial institutions. Some bank managers lack an understanding of the role of corporate governance in preventing bank failures. In this multiple case study, data were collected through interviews and triangulated with annual reports to explore the strategies some bank managers need to improve their understanding of the role of corporate governance in preventing bank failures in Zimbabwe. The 7 study participants were purposefully recruited from a larger population of 19 bank managers responsible for corporate governance and compliance operating in Zimbabwe between 2009 and 2015. This study was grounded in the concept of corporate governance using the agency theory. The central research question explored strategies bank managers can employ to improve their understanding of the role of corporate governance in preventing bank failures in Zimbabwe. The transcribed interviews were coded to generate themes and validated through member checking. Four themes emerged from the research: the need for improvement on compliance to corporate governance policies and regulations, recruitment of qualified and competent directors who should be independent non executive in majority, risk management and internal control, and training, education, and awareness of best practices. This study may have a positive social impact in that a stable and profitable banking environment creates and sustains employment and results in an improvement in the individuals' standard of living.
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Bailey, Bernard C. "Decision Making in the Corporate Boardroom: Designing the Conditions for Effectiveness." Case Western Reserve University School of Graduate Studies / OhioLINK, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=case1333570218.
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Dragon, Katharina Agnes. "Funding social sector activity in Brazil: a case study analysis of agency risk incidence and mitigation." reponame:Repositório Institucional do FGV, 2012. http://hdl.handle.net/10438/9929.
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Empresas e organizações sociais têm um papel cada vez mais importante no mercado brasileiro. Essas organizações - sejam elas com ou sem fins lucrativos –têm como objetivocausar um profundo e positivo impacto social.Ambas enfrentamtambém o mesmo desafio: financiar as suas operações. Recentemente, dois modelos inovadores de financiamento, o fundo de venture capitalVox Capital e o fundo de empréstimo social SITAWI, entraram no mercado brasileiro para solucionar esse desafio. Este estudo analisa ambos os fundos,associando o problema do financiamento de empresas e organizações sociais às teorias tradicionais de negócio. Mais especificamente, por meio de um estudo de caso,é avaliado se o risco de agência (agency risk) explica as práticas e o designcontratual utilizados pelos fundos. A pesquisa é baseada num estudo de Alemany e Scarlata (2010) sobre a estruturação dos negócios de fundos filantrópicos de capital empreendedor (PhVC, na sigla em inglês) na América do Norte e na Europa. Uma definição chave desse estudo é que organizações sem fins lucrativos, ao contrário daquelas com fins lucrativos, estão sujeitas a uma restrição de distribuição de lucros. Embora Alemany e Scarlata (2010) tivessem descobertoque parceria (stewardship), mais do que o problema de agência (agency problem), explica a estrutura dos negócios dos fundos PhVC, as implicações do presente estudo de caso para o Brasil são diferentes. Os resultados sugerem que o problema de agência,mais do que a parceria,descreve adequadamente os contratos analisados de financiamento. Detectou-seque cláusulas contratuais não foram apenas usadas para mitigar o risco de agênciaresultanteda ausência de uma restrição de distribuição de lucros, mas também para reger as estruturas cooperativas com organizações sem fins lucrativos. No caso de SITAWI, a restrição dos destinatários de fundos de distribuir lucros provou-se uma ferramenta efetiva para alinhar os interesses entre os financiadores e os destinatários dos fundos. Apesar daimplicação da presença de parceria, os contratos do fundo social contiveram cláusulas geralmente usadas para reduzir o risco de agência. No caso de Vox Capital, os destinatários dos fundos eram empresas com fins lucrativos, portanto não sujeitas à restrição de distribuição de lucros. O modelo de negócio de Vox Capital é organizado para impedir qualquer incidência potencial do problema de agência. Ambos os fundos, independentemente da estrutura jurídica dos beneficiários destes fundos, evidenciaram o intuito de garantir a aplicação de práticas de negócio utilizadas pelas empresas tradicionais do setor corporativo em vez daquelas utilizadas no setor social.
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Aiyadurai, Janusa, and Mathias Brenckert. "A Comparative Study on Green Mutual Equity Fund’s Financial Performance : International vs Domestic Fund Composition." Thesis, Umeå universitet, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-172469.
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In this thesis the relationship between regional composition and risk-adjusted performance is evaluated concerning Swedish issued green mutual equity funds. By using three different indices; Sharpe, Jensen and Treynor, a relationship has been able to establish. The study finds no strong relationship between geographic composition and performance concerning any of the indices and thus the impact of diversifying one's portfolio has little impact. By using the Modern Portfolio Theory, Stewardship Theory, Home Bias Theory and Behavioral Finance Theory a theoretical discussion has been established in order to further examine and analyze the fundamental dynamics of this relationship. Lastly, model risk and other variables impact on performance has been investigated. Our study finds a potential model risk since our three indices results disparate. Further, ESG related factors and Morningstar ratings seem to impact performance greater than regional composition.
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Daver, Joel, and Vanessa Loberg. "Kooperationens förvaltare : Ett kooperativt perspektiv av agentproblematiken." Thesis, Linköpings universitet, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-138832.
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Bakgrund: Trots sin betydande närvaro i samhället saknar kooperativa företag än idag tydliga ramverk över hur deras organisationer ska styras. Det uppstår därmed utmaningar eftersom kooperativ, det vill säga medlemsägda organisationer, på ett flertal sätt särskiljer sig från andra företagsformer, men ändå tvingas rätta sig efter ramverk och teorier anpassade för andra slags verksamheter. Utmaningar kan uppstå då det visat sig att etablerade styrningsramverk i många fall är otillräckliga och svåra att justera för de mål som kooperativa verksamheter präglas av, vilket starkt argumenterar för behovet av ett kooperativt anpassat styrningsramverk. Sett till tidigare forskning saknas det studier som förklarar hur agentproblematik utspelar sig och hanteras i en kooperativ kontext. I och med den ovan nämnda avsaknaden av styrningsramverk blir det likväl en utmaning för kooperativ att uppnå målkongruens mellan organisationens olika parter, där även organisationens storlek samt struktur spelar en avgörande roll. Syfte: Det huvudsakliga syftet med den här uppsatsen är att tillföra såväl ett empiriskt som teoretiskt bidrag för att öka kunskapen kring den agentproblematik som kan uppstå inom konsumentkooperativ, och ta reda på hur hög målkongruens kan uppnås inom medlemsägda företag utan att förbise medlemmarnas intressen. Genomförande: Studien är en kvalitativ fallstudie på organisationen Kooperativa Förbundet, med en iterativ ansats. Datainsamlingen har skett genom semi-strukturerade intervjuer, där intervjuguiden har utformats efter den teoretiska referensramen. Slutsatser: Den agentproblematik som utspelar sig inom kooperativ verksamhet är främst av förvaltarteoretisk karaktär. Det empiriska bidraget har dock belyst problematik som förvaltarteorin tidigare inte uppmärksammat, som uppstår när hög tillit förringar behovet av uppföljning och utvärdering. Problematiken har resulterat i en implementering av styrsystem, som vanligen förknippas med den kontrasterande agentteorin. Införandet av styrsystem måste dock, enligt förvaltarteorin, göras vaksamt vad gäller de konsekvenser som kan uppstå, vilket negativt kan påverka det för organisationen gynnsamma förvaltarbeteendet. Resultatet av vår analys visar att det råder hög målkongruens inom kooperationen till följd av ett ömsesidigt förvaltarperspektiv mellan styrelse och företagsledning. Det empiriska bidraget åskådliggjorde en samsyn respondenterna emellan vad gäller värdegrund, och en kollektiv vilja att efterleva de kooperativa värderingarna. Vidare uppnås målkongruens genom öppenhet, transparens, väl genomförda förankringsprocesser samt en kontinuerlig dialog mellan organisationens samtliga parter. Därutöver framgick det att hög målkongruens i sig inte leder till en framgångsrik verksamhet, utan det krävs även en stark genomförandekraft för att uppnå de gemensamma målen. Fallstudien har visat på en bristande genomförandekraft, vilket bland annat påverkas av kooperativets storlek, något som utgör en försvårande effekt på verksamheten. Vidare har det framgått att kooperativ enklare skulle kunna dra nytta av den höga målkongruensen om det hade förekommit en större homogenitet medlemsföreningarna emellan, både vad gäller storlek och verksamhet. Kunskapsbidrag: Studien har bidragit med en ökad förståelse kring den agentproblematik som kan utspela sig inom kooperativa organisationer, samt hur målkongruens kan uppnås inom medlemsägda företag. Därutöver avlägger studien två teoretiska bidrag. Det första bidraget är kopplat till förvaltarteorin, och identifierar svagheter inom teorin som tidigare inte belysts samt att dessa bekämpas med åtgärder som vanligen förekommer inom agentteorin. Det andra teoretiska bidraget bestrider den tidigare kooperativa forskningen då vi anser att internt anskaffad expertis ska vara ett alternativ till den externt rekryterade expertisen.Background: Despite its significant presence in today’s society, co-operative businesses still lack well-defined guidelines on how to manage their organizations. Challenges arise because co-operatives, i.e. member-owned organizations, differ in a number of ways compared to other forms of businesses. Still, however, they have to rely on frameworks and theories adapted to other types of organizations. Challenges may develop since it appears as though established management frameworks in many cases are insufficient and difficult to adjust to the objectives that characterize co-operative businesses, which argues for the need of a co-operatively adapted governance framework. There has been an absence of studies in previous research explaining how agency issues arise, and how the entailing challenges are managed in a co-operative context. At the same time, with the aforementioned lack of governance frameworks, it is nevertheless a challenge for co-operatives to achieve goal congruence between the organization’s various parties, where the size and structure of the organization also play decisive roles. Purpose: The main purpose of this study is to provide an empirical, as well as a theoretical, contribution to raise the awareness in regards to the Principal-agent problem and its entailing challenges in the context of consumer co-operatives. Furthermore, the purpose is also to investigate how high goal congruence can be achieved in member-owned businesses, without overlooking the interests of the members. Method: The study was carried out as a qualitative case study of the organization Kooperativa Förbundet, using an iterative approach. The collection of data has been attained through semi-structured interviews, in which the interviews were designed in accordance with the theoretical reference framework. Conclusions: The Principal-agent problems that arise within co-operatives are primarily of a Stewardship nature. However, our empirical research has highlighted challenges that Stewardship theory previously has not paid any attention to, including those that arise whenhigh levels of trust between the Board of Directors and the Management team lessens the need for follow-ups and evaluations. These challenging issues have resulted in an implementation of control systems, which usually are associated with the contrasting Agency theory, rather than with Stewardship theory. Nevertheless, the introduction of control systems must be done vigilantly, according to Stewardship theory, considering the consequences that may develop, which harmfully may affect the favorable stewardship behavior. The results from our analysis reveal a high level of goal congruence within the co-operation, owing to a mutual stewardship perspective between the Board of Directors and the Management team. Our research identified a consensus among the respondents in terms of values, and a collective willingness to comply with the co-operative principles. Furthermore, goal congruence is achieved through openness, transparency, justifiable decision-making processes, as well as a continuous dialogue between all parties within the organization. In addition, it was made clear that a high level of goal congruence, other things being equal, does not lead to a successful business. A strong implementing power is also required in order to reach the common goals. The case study conducted demonstrated an insufficient implementation power which is influenced, amongst other things, by the size of the co-operative which represents an aggravating effect on the business as a whole. Additionally, the co-operative would more easily benefit from its high levels of goal congruence if there had been a greater homogeneity between the member associations, both in terms of size and business activity. Research contribution: The study has contributed to an increased understanding of the Principal-agent issues that unfold in co-operative organizations, and how goal congruence is achieved in member-owned businesses. In addition, the study presents two theoretical contributions. The first one is linked to Stewardship theory, and identifies weaknesses that the theory has not been able to explain, and that these weaknesses are combated with measures more commonly found within Agency theory. The second theoretical contribution disputes previous research made on co-operatives, since we consider that internally acquired expertise should be an alternative to the externally recruited expertise.
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Buys, Pieter Willem. "The legitimacy predicament of current day accounting theory / Pieter Willem Buys." Thesis, North-West University, 2010. http://hdl.handle.net/10394/4578.
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Recent corporate reporting history is well–known for its corporate failures and
questionable accountancy practices, many of which caused the profession to be
frowned upon. However, the splodge on the accounting profession?s reputation
goes deeper than its corporate reporting failures. The scientific foundation
thereof is also being questioned in academic circles. Even though accounting
scholars have been trying to formulate foundational accounting theories, it has
been the accounting regulators that have been more successful in promoting
their versions of what accounting theory should be, which place a question
mark on the legitimacy of current day accounting theory. This thesis aims to
delve deeper into the foundational philosophies of accounting and its impact on
the practice of accounting.
With the current accounting globalisation efforts, the profession?s stewardship
function is becoming less prominent in its promulgated standards, which in
turn brings the focus on the many questionable ethical practices found in the
profession. Even though the regulatory bodies require their members to commit
themselves to professional codes of conduct, which entails competency,
integrity, objectivity and confidentiality, the 1st article in this thesis claims that
ethical conduct is more than mere adherence to rules and regulations. It is also
about the image of not only the profession, but also accounting research and
education.
Accounting is broadly practised, researched and taught within its so–called
conceptual framework, of which a key objective is to guide and inform accounting practice. The conceptual framework became the basis upon which
accounting theory is based. However, many accounting scholars are openly
critical of presenting accounting theory as a set of practical guidelines. The 2nd
article in the thesis concludes that, from an academic perspective, accounting
theory should be based on three quintessential guidelines. The first of which is
its primary purpose of reporting on the historic economic events, secondly the
provision of useable and comparable information about these events and finally,
the facilitation of business decisions based on relevant and reliable information.
In the above mentioned business decisions, the concept of value is often taken
for granted and many accounting techniques? effectiveness is judged on how
well it approximates an item?s value. The 3rd article argues that the multiple
purposes for which accounting information is used complicates the issue of
value, as reported by accounting. Two key conflicting valuation perspectives are
the so–called decision–usefulness and true income perspectives. The current
drive towards fair value accounting, as opposed to historic cost accounting, cast
doubts on the reliability and relevance of accounting information. Even though
it may be argued that value–based techniques are more relevant because it is a
better reflection of the current business conditions, the mere subjective nature
thereof and the accountant?s objective valuation skills make the true relevance
of this information questionable. Furthermore, mixed model valuations found in
financial statements makes cross–company information unreliable.
Accountancy research of the past four decades focussed on the concept of user
decision–usefulness. The user is also pre–eminent in the globalisation of
accounting standards of the FASB and the IASB, where users are specified as
the equity investors, lenders and capital providers. The 4th article acknowledges
that although these user categories are important consumers of the financial
data, there are other users which are also impacted by the financial information
and the company?s operational performances. There are also concerns over
accounting?s key assumptions, such as its quantification and predictive
abilities, which are fundamental to the decision–usefulness objective.
Furthermore, there are questions around how the regulators decided what
information is suppose to be useful and what type of utility is being sought. In summary, the focus on the vocational aspects of accountancy stands in
contrast to claims of accounting as an academic discipline in the social
sciences. The reality is that the practices of the profession will probably always
play a central role in what is taught at university level, and the regulators, as
the final authority on accounting standards, will probably remain dictatorial in
promulgating their versions of accounting theory. Yet, accounting and its wide
spread impact on society, makes it a key discipline within the economical and
management sciences. It is therefore essential for the resurrection of accounting
as a social scientific discipline that there is a return to foundational accounting
research that will prepare (and enable) prospective practitioners and academics
to question the status quo and push back on accounting practices that are
threatening to extinguish the flame of accounting scholarship.Thesis (Ph.D. (Accounting))--North-West University, Potchefstroom Campus, 2011.
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Bassey, David Nkata. "Corporate Governance Implementation in the Nigerian Banking Industry." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5676.
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The increasing level of fraud, the collapse of banks, and the loss of confidence in the Nigerian banking industry have been attributed to poor corporate governance. The problem of this study was effective implementation of corporate governance in Nigeria where multiple regulations are in place. The purpose of this qualitative single case study was to understand how corporate governance is implemented in the Nigerian banking industry in the face of a multiplicity of regulations. The research question investigated how Nigerian bank managers implement corporate governance regulations in the face of a multiplicity of regulations. The conceptual framework was grounded in stewardship theory. Data collection included document analysis and face-to-face semistructured interviews to gain an understanding of how to implement corporate governance based on the perception of 15 purposefully selected senior managers and directors of the host bank. Data were analyzed using Yin's 5-Stage data analysis approach. Findings revealed that the involvement of senior bank managers and the adoption of global best practices, training, education, and awareness creation are the prerequisites for effective implementation of corporate governance. Findings may be used to reduce corporate failure, improve compliance, and restore confidence in the banking industry through enhancing the understanding of practitioners, investors, and policymakers on how to implement corporate governance in a highly regulated banking environment and contribute to positive social change.
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Yang, Pei-Chun, and 楊培君. "Business Employment Adjustment Speed: Based on Agency Theory and Stewardship Theory Perspectives." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/2mjr98.
Full textAbstract:
碩士國立中央大學
人力資源管理研究所
105
This study attempts to investigate whether the corporate governance theories beliefs owned by business executives have impact on the speed of business employment adjustment. Based on the difference of forecasting behavior between agency theory and stewardship theory perspectives, this paper establishes a business discriminative index of agency theory and stewardship theory orientation by five standardized variables including the proportion of research and development expenditure, nonsystematic risk index, cash holdings, dividends to earnings ratio, and the proportion of outside directors, then try to find out the relevance between the orientation index and the speed of company employment adjustment. Collecting data from listed electronic companies at stock exchange market and over-the-counter market in Taiwan from 2009 to 2015, including 294 firms and 2058 observations. The empirical results indicate that the speed of company employment adjustment varies with different corporate governance theory orientation, and when the orientation index gets more close to stewardship theory, the business employment adjusts faster. Furthermore, dividing the employment adjustment situation into staffing and layoff, the results show that layoff speed also faster when the orientation index gets more close to stewardship theory. However, the staffing speed doesn’t vary due to different orientation index. Besides, the higher proportion of R&D expenditure, the higher nonsystematic risk index, the lower cash holdings, and the higher proportion of outside directors, the business employment adjusts faster, yet dividends to earnings ratio isn’t significant related to the speed of company employment adjustment.
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"Board structure and corporate performance: a comparision of agency theroy and stewardship theory." 2001. http://library.cuhk.edu.hk/record=b5890628.
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Jie Jenny Tian.Thesis submitted in 2000.
Thesis (M.Phil.)--Chinese University of Hong Kong, 2001.
Includes bibliographical references (leaves 121-137).
Abstracts in English and Chinese.
Acknowledgements --- p.i
Abstract --- p.iii
Chapter CHAPTER 1. --- INTRODUCTION --- p.1
Chapter CHAPTER 2. --- LITERATURE REVIEW --- p.3
Chapter 2.1 --- Agency Theory Approach to Corporate Governance --- p.4
Chapter 2.2 --- Stewardship Theory Approach to Corporate Governance --- p.10
Chapter 2.3 --- Research on Board of Directors: Prescriptions and Empirical Evidence --- p.13
Chapter 2.3.1 --- Board Composition Studies --- p.15
Chapter 2.3.2 --- Board Leadership Structure Studies --- p.21
Chapter 2.4 --- Chapter Summary --- p.24
Chapter CHAPTER 3. --- REFORM AND CORPORATE GOVERNANCE: A CHINESE CASE --- p.25
Chapter 3.1 --- China's Enterprise Reform: An Overview --- p.26
Chapter 3.2 --- State as Shareholder: The State Assets Management System --- p.30
Chapter 3.3 --- Asset Restructuring before IPO --- p.35
Chapter 3.4 --- Corporate Governance Research in China: Theories and Empirical Evidence --- p.43
Chapter 3.5 --- Chapter Summary --- p.46
Chapter CHAPTER 4. --- THEORIES AND HYPOTHESES --- p.47
Chapter 4.1 --- Theoretical Background and Research Questions --- p.47
Chapter 4.2 --- A New Approach to Understanding Board Composition in China --- p.51
Chapter 4.3 --- Board Composition and Firm Performance --- p.55
Chapter 4.3.1 --- Agency Theory Hypotheses --- p.57
Independent Directors and Firm Performance --- p.57
Affiliated Directors and Firm Performance --- p.59
Board Size and Firm Performance --- p.61
Chapter 4.3.2 --- Stewardship Theory Hypotheses --- p.62
Independent Directors and Firm Performance --- p.62
Affiliated Directors and Firm Performance --- p.65
Board Size and Firm Performance --- p.71
Chapter 4.4 --- Board Leadership Structure and Firm Performance --- p.72
Chapter 4.4.1 --- Agency Theory Hypothesis --- p.72
Chapter 4.4.2 --- Stewardship Theory Hypothesis --- p.74
Chapter 4.5 --- Chapter Summary --- p.77
Chapter CHAPTER 5. --- METHODOLOGY --- p.78
Chapter 5.1 --- Sample Selection --- p.78
Chapter 5.2 --- Variables and Measurement --- p.82
Chapter 5.2.1 --- Independent Variables (IVs) --- p.82
Board Composition --- p.82
Board Leadership Structure --- p.84
Chapter 5.2.2 --- Dependent Variables (DVs) --- p.84
Chapter 5.2.3 --- Control Variables --- p.86
Chapter CHAPTER 6. --- RESULTS --- p.94
Chapter 6.1 --- Results based on the Full Sample (N=203) --- p.94
Chapter 6.2 --- Results based on the Streamlined Sample (N = 197) --- p.101
Chapter CHAPTER 7. --- "DISCUSSION, LIMITATIONS AND CONCLUSION" --- p.107
Chapter 7.1 --- Discussion --- p.107
Chapter 7.2 --- Limitations --- p.116
Chapter 7.3 --- Conclusion and Future Research Direction --- p.118
References --- p.121
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Yu, Ya-Chuan, and 尤雅娟. "The influence factors of social enterprise operation : The view of resource-based theory and stewardship theory." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/e9dn2n.
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碩士國立高雄應用科技大學
企業管理系
104
In recent years, the social enterprise and related issues have attracted much attention. This study adopts the view of resource-based theory and stewardship theory to explore what factors will affect the social enterprises continuously operating. This study is based on a case study research and involves the interviews conducted with the four leaders of social enterprise in person. The interviews are then transcribed into transcripts as research data, it is then verified after the research data is encoded. Finally, the propositions are developed according to the findings. The results shows that on an individual level: (1) The leaders of social enterprises have a good interpersonal network, and have accumulated experience in the past with members of the organization. In addition, the company also has trained professionals with the skills and knowledge to allow the company to continue operating. (2) Members of the social enterprise who have the stewardship behavior can help the company to continuously operate. (3) Members of the social enterprise have either the cognition of interests in the company as a priority, or the cognition of the company’s long-term orientation. The leader of the social enterprises possess a high degree of commitment resulting in continual operation of the company. On an organizational level: (1) Social enterprises have good customer relationship management, marketing strategy, high efficient capacity for operating and servicing. The ability to develop new products and develop new markets, as well as good supplier relationship management and related management mechanisms with the suppliers. This enables the company to continue operating. (2) Social enterprises can continue to operate when they have organizational resources such as the mechanisms of control, good internal coordination, the capability to cope with change management and crisis management due to the impact of the external environment and continuous improvement capability, etc. (3) Social enterprises must have a good reputation to enable the company to continuously operate. (4) Social enterprises have staff management control systems and the reward systems which can let employee more deeply understand organization and identify organization, in turn, these systems allow the social enterprise continuously operating.
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Chung, Yu-kai, and 鐘育楷. "Using Stewardship Theory to Explore Firm Tax Evasion Behavior-The Case Study of South Korea." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/38276327431128705168.
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碩士國立臺灣科技大學
企業管理系
99
There are various ways for administrators to manage the company. However, many people pay attention to successful companies, but actually it is worthy to observe companies breakdown. Why some organizations were destroyed in the past. Maybe organization crime is one of reasons. Agency problem was generated from agency theory, but stewardship theory is not. Therefore, the study regards stewardship theory as core to study the organizational crime. In the study, the South Korean companies are as the main research object, which to measure crime organization through the tax evasion. This study attempts to investigate the relationship between stewardship theory and tax evasion. In addition, this study also explores both the moderating role of the firm size and firm age on the above relationship. Finally, this study explores the relationship between the firm size and the firm age separately and tax evasion. Results from a South Korea sample of 575 of PICS indicate that (1) Firm size is negatively related to tax evasion. (2) Firm age is negatively related to tax evasion.
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Melanson, Stewart James. "Agency and Institutional Transformation: The Emergence of a New Corporate Governance Model." Thesis, 2010. http://hdl.handle.net/1807/24828.
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This research examines institutional transformation of the board of directors in Canada to a collaborative model in which the board, in addition to its monitoring function, provides a service role by acting as a sounding board to management and providing advice and counsel to management on strategic issues. This thesis also examines how director search, likely initiated by the ‘Enron’ scandals, led to some boards adopting a new model of practice that directors deemed more efficacious and possessing legitimacy, bringing together the old and the new institutionalism in institutional change processes. Legitimacy was drawn from guidance from a professional association for directors that outlined how boards could become strategic asset to the firm that was consistent with a stewardship model of governance that saw boards collaborative with management. It is also argued in this thesis that following the Enron scandal, directors searched for a model of practice that would be more efficacious such that their fears of liability were reduced. In searching for and adopting a new model of practice, the collaborative board, it is also argued that adoption requires coupling to the technical core (enacted), as opposed to symbolic, if it is to be effective. This research studies directors and senior management of public firms of the TSX Composite by way of survey methods. The findings provide support that the board is evolving in Canada to a new collaborative model and that the model of practice appears to be enacted (coupled) as opposed to symbolic (decoupled). Further, the results did not find that collaborative boards are impaired in their monitoring function and support is found that the board’s monitoring role may actually be enhanced. These results are discussed as well as future research directions and limitations of the study.
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Alsahafi, Ashraf Mohammadsaleh. "Corporate governance and firm performance in Saudi Arabia." Thesis, 2017. http://hdl.handle.net/1959.13/1347421.
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Research Doctorate - Doctor of Philosophy (PhD)Corporate governance in a specific country relates systematically to its social, economic and legal structures. From this standpoint, and since Saudi Arabia has unique cultural, economic and political features, this study aims to explore corporate governance practices in Saudi Arabia. A close look at the influence of these features on the Saudi business environment reveals that agency theory is not the appropriate theory that can be applied in the Saudi context, despite its widespread adoption in the extant studies of corporate governance. Alternatively, stewardship theory seems to be the most relevant theory to the Saudi business environment. Therefore, stewardship theory is adopted as the main theoretical framework for this study, augmented with other theories including stakeholder, resource dependency and institutional theories. Taking these multiple theoretical frameworks as a key point of departure from previous studies, this thesis seeks to examine the relationship between corporate governance and firm performance, focusing on three main areas: board of director characteristics, ownership structure and capital structure. The study uses secondary data obtained from annual reports of all non-financial listed firms in Saudi Arabia over a six-year period from 2009 to 2014. Multiple performance measures including both accounting-based and market-based measures are adopted. A number of firm characteristics including firm size, age, growth, capital expenditure, leverage and industry are employed as control variables. The study utilises quantitative analysis techniques including both descriptive and inferential statistics such as ANOVA, t-tests and regression analysis. A lagged structure method is also employed to address endogeneity problems. Corporate governance in a specific country relates systematically to its social, economic and legal structures. From this standpoint, and since Saudi Arabia has unique cultural, economic and political features, this study aims to explore corporate governance practices in Saudi Arabia. A close look at the influence of these features on the Saudi business environment reveals that agency theory is not the appropriate theory that can be applied in the Saudi context, despite its widespread adoption in the extant studies of corporate governance. Alternatively, stewardship theory seems to be the most relevant theory to the Saudi business environment. Therefore, stewardship theory is adopted as the main theoretical framework for this study, augmented with other theories including stakeholder, resource dependency and institutional theories. Taking these multiple theoretical frameworks as a key point of departure from previous studies, this thesis seeks to examine the relationship between corporate governance and firm performance, focusing on three main areas: board of director characteristics, ownership structure and capital structure. The study uses secondary data obtained from annual reports of all non-financial listed firms in Saudi Arabia over a six-year period from 2009 to 2014. Multiple performance measures including both accounting-based and market-based measures are adopted. A number of firm characteristics including firm size, age, growth, capital expenditure, leverage and industry are employed as control variables. The study utilises quantitative analysis techniques including both descriptive and inferential statistics such as ANOVA, t-tests and regression analysis. A lagged structure method is also employed to address endogeneity problems. The findings of this study, in terms of accounting-based measures of performance, indicate the existence of a relationship between firm performance and the three areas of focus in the directions that would be expected when examining the impact of corporate governance through the lenses of stewardship theory and resource dependency theory. The results related to the board of director characteristics indicate that while there is a negative relationship between board independence and firm performance, other board characteristics, namely board size, CEO duality, CEO tenure and family CEO, are positively associated with firm performance. Regarding ownership structure, the results reveal a positive relationship between ownership concentration and firm performance. Among the types of ownership, only family and managerial ownership have a positive impact on firm performance. Interestingly, family ownership is found to have a positive impact on firm performance only when family owners are on the board of directors. With respect to capital structure, the findings indicate a negative relationship between capital structure and firm performance. In addition, the study reveals a positive impact of Islamic debt on firm performance. On the other hand, the results based on market-based measures of performance show no significant impact of the board of director characteristics, ownership structure and capital structure on firm value. In light of the recent adoption of the OECD principles of corporate governance across a range of emerging markets, a key implication of this thesis is that such regulations may need to be refined to better reflect the specific context of the countries within which they operate. The findings of this study provide valuable implications for policymakers, regulators, firms, shareholders and investors in Saudi Arabia.
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Lee, Chun-Ju, and 李俊儒. "Key Benefits of Enterprise Resource Planning Implementation within Small Family Business : A Stewardship Theory Perspective by Case Study." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/8vmyb9.
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碩士國立高雄科技大學
資訊管理系
107
This case study mainly focused on the key benefits of introducing ERP into Small Family Businesses (SFB) in Taiwan. In the research, analysis to the key benefits of an ERP system for SMEs in tradition food industry. Through the literatures review, establishes a information management theory for Small Family Businesses, classifying the ERP benefits to Small Family Businesses, It is very different from ERP systems have been implemented before. Compared with the individualism of the agency theory and the pursuit of self-interest, the stewardship theory advocates that the family business is collectivism and pursues family interests. This Research helps to determine whether the results of ERP import will be closely related to the interests of the family business, and naturally do everything possible to protect the interests of the family business and maximize the benefits of the organization, which is different from the previous research on the introduction of ERP in small and medium-sized enterprises. Finally, this study believes that the adoption of ERP systems in family businesses helps companies achieve their goals by improving business performance and better process control from a stewardship perspective.
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Granström, Jonatan. "Are labor union representatives agents or stewards? : An exploratory study regarding the governance of labor unions." Thesis, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-51273.
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Abstract Background & Problem: During recent years there have been disclosed instances of labor union representatives wrongfully using the members’ funds. Considering the nature of the labor unions this kind of behavior is surprising, and therefore there is an interest in what motivates these representatives in their actions. Agency theory and Stewardship theory suggests two opposing views of corporate governance and motivation. The authors of this study attempt to contribute to this discussion by exploring the environment within labor unions. Purpose: The purpose of this study is to explore whether the management representatives within labor unions are acting as agents or stewards as well as whether they are perceived as such in the eyes of the members. Method: This study is based on a deductive research approach using a qualitative research strategy. The primary data was collected through semi-structured interviews from representatives of the unions as well as members of the unions. This was complemented with information from the websites and documents from the labor unions. A thematic analysis approach was used to analyze the findings. Conclusion: This study concluded that the representatives of the different labor unions are leaning more towards acting as stewards rather than agents and that they are perceived as such by the members. The authors found that there was a lot of focus on member recruitment and the importance of recognizing what type of relationship that exists.
45
Zhu, Helena. "New venture delegation." Thesis, 2018. https://dspace.library.uvic.ca//handle/1828/9971.
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Many start-ups fail or never achieve their full potential due to founder’s resistance to delegate. Yet our understanding of delegation in entrepreneurship is limited to research on later events in the organizational life cycle with a key focus on succession and exit. Moreover, the existing research focuses on single entrepreneurs; however, many new ventures are created by teams and decisions around delegation of authority are critical, even amongst the founding entrepreneurs within the venture team. Accordingly, the purpose of this dissertation research was to understand when and how delegation occurs in modern new ventures, and how it enhances or undermines new venture survival and growth, with a particular interest in exploring the role of psychological ownership in delegation practice.
To understand the phenomenon of interest, I conducted a qualitative study, involving in-depth interviews and non-participative observation, in five growing technology start-ups. In doing so, I utilized the existing literatures on new venture growth, founder delegation, psychological ownership/territoriality and management control systems that more or less address delegation in entrepreneurship. As well, I incorporated other literatures based upon the emerging findings, namely entrepreneurial leadership and agency/stewardship theory. To my knowledge, this work is one of the first of its kind to examine early delegation activities in new ventures. It has the potential to make a number of significant and multi-disciplinary contributions. First, it fills in the gap of knowledge in new venture growth literature, the school of dynamic growth models in particular, where empirical evidence that addresses people management challenges at critical transition points is rare and needed (Phelps et al., 2007), by elucidating the occurrence of new venture delegation. Second, it contributes to psychological ownership and territoriality research being among the first to empirically explore psychological ownership over dynamic objects like business ideas and new ventures, as well as the impact of psychological ownership and the territorial behavior associated with it on delegation in entrepreneurship. This study extends our understanding of psychological ownership and territoriality and facilitates future research on many important organizational phenomena related to psychological issues in entrepreneurial contexts. Third, it enriches founder delegation research by expanding its focus onto the critical delegation events before entrepreneurial succession/exit, since the experience that founders gain through early delegation activities significantly influences their departure decisions, which is recognized as the most critical event in most firms (Hofer & Charan, 1984; Carroll, 1984). In addition, I identify the application of the theories regarding management control systems and agency/stewardship theory in early delegation in the context of entrepreneurship.Graduate
2019-07-31
46
Shah, Syed Naveed Ul Hassan. "An Empirical Study of Shareholders Rights in Australia: Theory and Practice." Thesis, 2020. https://vuir.vu.edu.au/42039/.
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Shareholders are important because they provide finance to companies by investing in the share market. Shareholder voting rights are attached to the shares. The rights are defined by a company’s constitution, shareholders agreement, the Corporations Act 2001 (Cth) and ASX Listing Rules. The exercise of the rights is significant for the growth and trustworthiness of capital markets. Previous research has focused on evaluation of the strength of shareholders rights, shareholders activism and shareholders engagement but lacked evaluation of the ways in which shareholders exercised their rights. This thesis addresses this issue. In particular, it explores shareholders economic rights, which are divided into control and decision making rights, and how shareholders exercised these rights by voting on resolutions proposed at Annual General Meetings.
The aim of this study was to empirically and legally evaluate shareholders rights in practice in ASX 200 companies during 2014-2018. The research question was: To what extent do shareholders exercise their rights in Australian listed companies, and how and to what extent does shareholders engagement with a listed company impact on corporate decision makings at AGMs?
The mixed-method methodology included both empirical quantitative and black-letter law research methodologies. The research included development of a data base of voting behaviour at the AGMs of 122 companies; 3382 AGMs resolutions including 3214 ordinary resolutions 168 special resolution were studied over the period of 5 years.
The results showed that on average 64% shareholders exercised control and decision making rights in 2014 which increased by on average 4.0633% in 2018. Moreover, on average around 30% of shareholders have not attended AGMs and have never appointed proxies. The appointment of proxy trend consistently increased since 2014 to 2018 by on average 4.7514%. The attendance of shareholders in person was on average around 2% during 2014-2018.
The top 20 shareholders hold on average 77.5865% of voting rights in 2018 which is 3.3634% higher than 2014. Further, on average 9% of top 20 shareholders have never attended AGMs and have never appointed proxies. The blockholders voting power lay between 58% and 63% during study period. The presence of top 20 shareholders and blockholders did not have any significant influence on the voting turnouts at AGMs.
The financial benefits from the issue of dividends did not have any impact on shareholders engagement and AGMs voting turnout. The relationships of shareholders engagement with election and re-election of directors were statistically significant with shareholders voting against resolutions, but the results confirm that shareholders cannot hold directors accountable at AGMs through their voting powers.
The current study supports the application of stewardship theory instead of agency theory at AGMs of ASX 200.
The policy recommendations were developed on the basis of empirical confirmations established from this study. In Australia, shareholders are powerful in theory and powerless in practice.
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Wasserman, Olle, and Hylén Olle Andersson. "Insynsägandets relation till prestation, vad gäller i Sverige? : En kvantitativ uppsats om sambandet mellan insynsägande och finansiell prestation i Sverige." Thesis, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-96850.
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Inledning: Huruvida insynsägande påverkar finansiell prestation är ett beforskat område där tidigare studier kommit fram till olika slutsatser. Utifrån agentteorin torde insynsägande ha en positiv påverkan på finansiell prestation, utifrån entrenchment-teorin torde insynsägande påverka finansiell prestation negativt i och med ökad makt. Samtidigt utifrån stewardship-teorin torde det inte finnas en relation mellan insynsägande och finansiell prestation. Syfte: Syftet med uppsatsen är att analysera sambandet mellan insynsägande och finansiell prestation i svenska bolag vilka präglas av en hög förekomst av aktier med skilda röstvärden och en hög ägarkoncentration. Vidare är syftet att teoretiskt förklara de resultat som framkommer i denna uppsats för att redogöra för vilka befintliga teorier inom området som kan appliceras i en svensk kontext. Metod: För analysera sambandet mellan insynsägande och finansiell prestation i svenska bolag har uppsatsen tagit en kvantitativ ansats med ett deduktivt synsätt där teori har testats genom en panelregression innehållande 300 observationer. Slutsats: Uppsatsens resultat påvisar att sambandet mellan insynsägande och finansiell prestation, operationaliserat som Tobin's Q, tar sitt uttryck som ett inverterat U. I spannet 0 till 37,75 procent insynsägande finner vi stöd för en alignment-effekt samtidigt som vi finner stöd för entrenchment-effekten vid nivåer av insynsägande över brytpunkten på 37,75 procent. Vidare finner vi inget stöd för stewardship-teorin. Den brytpunkt som noterats i svenska bolag är lägre än den brytpunkt som påvisats i länder så som USA och Storbritannien. Förklaringen till detta kan vara den höga prevalensen av aktier med skilda röstvärden och den höga ägarkoncentration som präglar svenska företag.Introduction: Whether Managerial Ownership affects financial performance is an area of research where previous studies have come to different conclusions. Based on Agency Theory, Managerial Ownership should have a positive impact on financial performance, and based on Entrenchment Theory, Managerial Ownership should have a negative impact on financial performance due to increased power. At the same time, based on Stewardship Theory, there should not be a relationship between Managerial Ownership and financial performance. Purpose: The purpose of the essay is to analyze the relationship between Managerial Ownership and financial performance in Swedish companies, which are characterized by a high prevalence dual-class shares and a high ownership concentration. Furthermore, the purpose is to theoretically explain the results that appear in the essay to explain what existing theories in the field that can be applied in a Swedish context. Method: To analyze the relationship between Managerial Ownership and financial performance in Swedish companies, the essay has taken a quantitative and deductive approach where theory has been tested through a panel regression containing 300 observations. Conclusion: The essays results show that the relationship between Managerial Ownership and financial performance, operationalized as Tobin's Q, takes its expression as an inverted U. In the range 0 to 37.75 percent Managerial Ownership we find support for an alignment effect while also finding support for an entrenchment effect at levels of Managerial Ownership above the inflection point of 37.75 percent. Furthermore, we find no support for Stewardship Theory. The inflection point noted in Swedish companies is lower than the inflection points detected in countries such as the US and the UK. The explanation for this may be the high prevalence of dual-class shares and the high ownership concentration that characterizes Swedish companies.
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Alagha, Hani S. "Corporate Governance Practices and Firm Performance of Listed Companies Including Islamic Financial Institutions in the United Arab Emirates." Thesis, 2016. https://vuir.vu.edu.au/30150/.
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Corporate governance is considered to have significant implications for the growth prospects of an economy. Well-formulated corporate governance mechanisms are regarded as important not only in reducing risk for investors, but also in protecting shareholders’ value as well as in improving and enhancing a firm’s performance. However, corporate governance mechanisms do vary between countries, as each country is unique in its political, economic, legal, culture and social contexts. Each country has its own corporate governance regulations with respect to various aspects of corporate management, which come under public domain. The United Arab Emirates (UAE) also has its own corporate governance rules introduced in 2010. The results of the study reported here evaluate the consequences of compliance with different components of the rules by UAE firms. The conclusions of the study lead to some recommendations to the UAE regulatory authorities.
The purpose of this study was to investigate the extent of compliance with various components of corporate governance rules of 2010 and their relationship between corporate governance practices and performance of financial and non-financial firms and conventional and Islamic banks in the context of the UAE. The study investigated the impact of the implementation of 2010 corporate governance rules and the extent of changes to corporate governance practices two years later (in 2012). During this period, firms that operated in the UAE were experiencing the impact of the global financial crisis of 2008-2009 and its aftermath.