Search results for " GOVERNANCE"

The association between microfinance rating scores and corporate governance: A global survey

2014

Abstract The global microfinance industry has experienced high growth rates over the past decades, and the World Bank foresees a future market with billions of customers. However, the industry's continued growth is contingent on its ability to create a governance structure that supports microfinance institutions' long-term performance. Because microfinance institutions' performance is multidimensional and difficult to measure, prior research has not been successful in establishing consistent associations between governance structures and microfinance institutions' performance. We apply microfinance rating scores – a unique innovation of the microfinance industry – as a summary performance m…

Motivations, adoption and impact of voluntary environmental certification in the Italian Forest based industry: The case of the FSC standard

2017

Abstract Over the past few years several private voluntary schemes have been developed worldwide to address the environmental issues in the forest based industry. Using survey data, this study analyse the main factors motivating companies operating in the Italian forest based industry to implement FSC (Forest Stewardship Council) standard, as a tool to promote responsible forest management and traceability of derived products, and the impact of this standard on the economic and organisational results. The findings provide evidences that signalling mechanisms drive the entrepreneurs towards the adoption of FSC certification, followed by moral and ethical reasons. In terms of impact, emerges …

Globalization of Monitoring Practices: The Case of American Influences on the Dismissal Risk of European CEOs

2013

Accepted version of an article from the Journal of Economics and Business This study examines globalization of monitoring practices by focusing on how American (U.S.) influences on European firms impact the dismissal risk for these firms' CEOs. Specifically, we argue that the stronger short term orientation of the American corporate governance system increase the dismissal performance sensitivity faced by European CEOs, indirectly and directly. The former materializes via European firms cross-listing on U.S. exchanges, the latter results from European firms hiring U.S. independent board members. Both influences are expected to result in increased dismissal performance sensitivity. Based on …

Governance Transfer by Regional Organizations: Patching Together a Global Script, edited by T. A. Börzel and V. van Hüllen (Basingstoke: Palgrave Mac…

2016

Governance, entrepreneurship and economic growth

2012

In general terms, governance simply means how an organization is governed. It is the science of government performance and behaviour and it refers to several processes that must include historical, cultural, social and political determinants. For this reason, it is possible to establish a relationship between governance and institutions. Communities of persons, firms and institutions are essential ingredients of good governance and its analysis could be developed considering two possibilities. The first is considering the factors, such as entrepreneurship, by which government would more efficiently increase economic growth. Second is taking into account the economic results obtained by gove…

Operational risk in bank governance and control: How to save capital requirement through a risk transfer strategy. Evidences from a simulated case st…

2015

Operational risk management in banking has assumed such importance during the last decade. It has become increasingly important to measure, manage, and assess the impact of operational risk in the economics of banking. The purpose of this paper is to demonstrate how an effective operational risk management provides mitigating effects on capital-at-risk in banking. The paper provides evidences that an implementation of an operational risk transfer strategy reduces bank capital requirement. The paper adopts the loss distribution approach, the Monte Carlo simulation, and copula methodologies to estimate the regulatory capital and simulate an operational risk transfer strategy in banking.

‘Experimental Union’ and Baltic Sea cooperation: the case of the European Union’s Strategy for the Baltic Sea Region (EUSBSR)

2018

In the past, Baltic Sea cooperation has been characterized by a plethora of actors, embracing a wide range of policy objectives, such as the establishment of a good environmental status for the regional sea. In 2009, the European Council endorsed the European Union’s (EU) Strategy for the Baltic Sea Region (EUSBSR) as a new tool in the repertoire of Cohesion Policy and European Territorial Cooperation (ETC). The EUSBSR seeks to foster cross-sectoral coordination and functional cooperation in policy areas of ‘macro-region-level’ relevance, such as transport infrastructure, economic development and environmental protection – thus projecting a ‘soft space’ of transnational Baltic Sea cooperati…

Social Economy Managers: Between Values and Entrenchment

2004

Managers play a key role in Social Economy corporate governance and can determine the path that these companies will take. This article analyses the theoretical aspects underlying the central role of managers in Social Economy enterprises, the nature of these strategic human resources, particularly the variables that influence their behaviour, and their ability to shape paths or strategies that strengthen or undermine the Social Economy identity of these enterprises. Finally, taking a prescriptive approach, it examines the advantages and limitations of different options for management selection and control.

Prudential supervisors' independence and income smoothing in European banks

2019

[EN] We investigate the role of prudential supervisors' independence in affecting income smoothing behavior in European banks. Powerful national supervisors are predicted to influence the accounting practices of their supervised entities, shaping the properties of the accounting numbers they prepare. In particular, we study whether greater independence of powerful supervisors from the government and from the industry is associated with lower income smoothing. We use the mandatory adoption of a single set of accounting standards in Europe as a shock to the influence of prudential supervisors over national banks' accounting practice. Our results confirm that political and industry independenc…

Une gouvernance territoriale endogène de l'environnement : contours et enjeux. Près de 300 initiatives soumises à une analyse comparative 

2011

La gouvernance territoriale de l'environnement peut être le fait d'actions publiques exogènes aux territoires locaux, mais aussi d'initiatives locales de concertation qui se développent dans des espaces publics. L'analyse d'un échantillon de près de trois cents initiatives locales de ce type, sur l'ensemble du territoire national, nous a permis de déchiffrer leur diversité, d'étudier la façon dont elles complètent, corrigent ou inspirent les politiques publiques et d'identifier leurs impacts. Pourvoyeuses d'innovations, elles contribuent à créer un " milieu dialoguant " qui sert de base à la construction de compromis indispensables au développement durable. Elles font émerger des proximités…