Search results for "Governance"
showing 10 items of 959 documents
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…
On the Internationalization of Corporate Boards
2013
This study investigates the internationalization of corporate boards, using a sample of 346 non-financial listed Nordic firms during 2001–2008. Given a high level of international activity, these firms have surprisingly few foreign directors. The picture of international expertise changes considerably, however, if we also count the international experience of national directors. The percentage of foreign directors is related primarily to financial internationalization rather than foreign sales, and thus presumably to the monitoring rather than advisory functions. The international experience of the nationals covaries with foreign sales, and increases with the share of foreign directors. Thu…
The impact of the Great Recession on TFP convergence among EU countries
2017
ABSTRACTThis article provides evidence on the effect of the Great Recession on productivity convergence among European Union (EU) economies. We use firm data, aggregated at the country-year level, to analyse the evolution of beta-convergence on total factor productivity (TFP) for 2003–2014. We obtain a positive impact of the recession on TFP (unconditional and conditional) beta-convergence across EU economies. These results support the existence of a catching-up process within the EU during the recent financial crisis. Other macroeconomic and institutional characteristics are important in fostering TFP growth, namely R&D intensity and quality of governance.
The EU's New Economic Governance Framework and Budgetary Decision‐Making in the Member States: Boon or Bane for Throughput Legitimacy?*
2021
The euro crisis has sparked changes in the EU's economic governance framework and a crisis of legitimacy across the union. While the institutional repercussions of the crisis have been studied before, the democratic impact at the national level has received much less attention. This paper aims to fill this gap, focusing on the procedural changes that the EU's new economic governance (NEG) framework has brought to national budgetary decision-making. Building upon the Varieties of Democracy framework, the paper adds empirical nuance and conceptual clarity to the notion of 'throughput legitimacy' and its components: openness, inclusiveness, transparency and accountability. Detailed case studie…
Efficiency of French privatizations: a dynamic vision
2004
The program of French privatizations is one of the principal worldwide programs as for the volume of the equity issues. A reading of the process of privatization through the corporate governance theory resulted in working out a model making it possible to take into account, on the one hand, the time dimension of the process of privatization, on the other hand, the contextual, organizational, governance and strategic variables which influence this process. After having replicated a certain number of traditional tests, we carried out a test of this model on a sample of 19 French privatized firms and on a seven years horizon, which made it possible to obtain the following conclusions. The favo…