Search results for "Governance"
showing 10 items of 959 documents
Exporting Corporate Governance: Do Foreign and Local Proxy Advisors Differ?
2018
Prior research documents that the large US-based proxy advisors, Institutional Shareholder Services (ISS) and Glass Lewis (GL), play an important role as information intermediaries in corporate governance worldwide. We provide initial evidence on the role of local proxy advisors, using the German setting. We analyse voting recommendations by local (IVOX) and foreign (ISS, GL) proxy advisors. First, we find that IVOX’s voting recommendations differ substantially from those of ISS and GL. Second, we observe that IVOX’s against-recommendations are significantly negatively associated with voting support. Third, we find that this association is particularly negative for voting outcomes at compan…
Control and Trust in Local School Governance
2014
External school inspection and state supervision represent key instruments in many European countries for improving the quality of education. Although some countries, such as England, France, and the Netherlands, have a long tradition of school inspectorates, other countries such as Sweden only recently reintroduced a school inspection system (Johansson O, Holmgren M, Nihlfors E, Moos L, Skedsmo G, Paulsen JM, Risku M, Local Decisions under Central Watch – a new Nordic quality assurance system. In: Moos L (ed) Transnational influences on values and practices in Nordic educational leadership – is there a Nordic model? Springer, Dordrecht, 2013). In Denmark, the relationship between the state…
Gender Discrimination and the Monitoring Role of Female Directors Over Accounting Quality
2016
Recent research in accounting suggests female directors exert more stringent monitoring over the financial reporting process than their male counterparts. However, an emerging literature in finance and economics questions whether females in leadership roles significantly differ from their male counterparts. Building on this literature, we re-examine the link between the presence of female directors, gender biases, and financial statements quality. Using a large sample of UK firms we find that a larger percentage of women among independent directors is significantly associated with lower earnings management practices. However, we show that this relation disappears if we focus on firms that d…
ADOPTING SOUND CORPORATE GOVERNANCE PRINCIPLES – A PROSPECTIVE APPROACН TOWARDS TНE IMPACT ON STOCK PRICES OF ROMANIAN LISTED COMPANIES
2020
Sound economic developments and successful businesses are conditioned by embracing proper corporate governance principles furthered by their proper implementation. There is a strong body of research that encompasses finance and accounting tools to establish valid links between qualitative corporate governance fundamentals and stock market performance of listed companies, that stem from accountability, operational integrity, transparency, management and board efficiency improvements, risk mitigation and overall better decision-making endeavours. The aim of the present research is to assess the impact of adopting sound corporate governance principles on the stock price of companies traded on …
An interaction orientation approach to SME-Intermediaries relationships
2021
Abstract Small and medium-sized enterprises (SMEs) engaging in foreign operations have drawn significant research attention in recent years. One of the aspects linked to such operations is SMEs’ expansion to foreign markets, often relying on local intermediaries. These intermediaries provide the firms with valuable resources such as market knowledge and recognition and reduce foreign operations’ costs. Hence, they are often considered as strategic partners. The current study aims to expand the existing knowledge regarding the relationships between business to business SMEs and their intermediaries by exploring interaction orientation as an organizational cultural aspect and its linkage to t…
Stakeholder Engagement, Corporate Social Responsibility and Integrated Reporting: An Exploratory Study
2013
There is increasing interest in integrated reporting that includes the company's financial, governance, environmental, and social performance. For this reason, the main objective of this investigation is to study why companies are producing integrated reporting, paying special attention to the links with the assurance of the corporate social responsibility (CSR) report. Based on 7144 worldwide observations, this study identifies the determinants of integrated reporting through a logistic regression model. Our results point out that the likelihood of disclosing an integrated report is positively associated with having the CSR report assured, year, size and supplement industry. Next, we teste…
Corporate Governance and Company Law Reform: a German perspective
2005
Corporate crises and international trends in corporate governance have revealed the need for reform, and resulted in a great number of changes in corporate law. In spite of this, the existing legal framework for corporate governance in Germany presents itself reluctant to major changes. The German approach to reform has focused on the improvement of corporate monitoring by the supervisory board. It neither questions the two-tier structure, nor does it reconsider the existing representation of shareholders or other stakeholders under the current form of co-determination. The German Corporate Governance Code represents a new instrument of soft law and its recommendations are likely argued to …
The Silent Board: How Language Diversity May Influence the Work Processes of Corporate Boards
2014
Manuscript Type Empirical. Research Question/Issue Corporate boards often change their working language when they acquire foreign members. Consequently, boards �talk� in one language but �think� in another. The present study explores and explains how language diversity influences work processes of corporate boards. Research Findings/Insights On the basis of a multiple case study of nine multinational corporations (MNCs) from four Nordic countries, we discovered evidence of impoverished and silenced discussions in board meetings in those case companies that were unprepared to switch to English as the new working language of the board. Some board members found it difficult to contribute to bo…
New Inhabitants for the Re-use of Historical Territories in South-Eastern Sicily
2021
In spite of the multifaceted criticalities that characterise the Sicilian territory, South-Eastern Sicily appears to be of particular interest due to the active role that distinguishes it from the rest of the Island. The transformation processes taking place in South-Eastern Sicily, in fact, seem to be guided by new perspectives of sustainability, local development and good governance. The mix obtained from the extraordinary amount of tangible and intangible resources, from some favourable socio-cultural circumstances and from the creation of new transportation infrastructures, has contributed to promoting new forms of reuse of the historical building heritage by Italian and overseas invest…
Corporate Governance Mechanisms for Monitoring or Empowering CEOS? A Study of Chinese Listed Firms
2008
This study examines the impact of governance mechanisms in monitoring or empowering top executives on firm performance. We distinguish between two competing theories, namely agency theory and stewardship theory, which hold conflicting assumptions about CEOs behaviour and hence offer different recommendations concerning corporate governance structure. We conduct an empirical study based on 837 publicly listed companies in China over the period of 2005-2007, the findings of this study provide strong support for stewardship theory. The results suggest that governance mechanisms that can empower CEOs work better in the Chinese context, specifically, a longer CEO tenure and lower board independe…