Search results for "shareholder"
showing 10 items of 84 documents
Creating Value – From Corporate Governance to Total Shareholders Return. An Overview
2016
Abstract The term “value” can be interpreted in a subjective way, depending about what we refer at. Usually the firm's value is related to the financial performance: profitability, cash flow, liquidity, solvability, etc. A corporation can create and in some cases reduce value for its stakeholders. Also, a corporation can create value for the stakeholders by simply creating jobs, paying taxes and help the population to improve their financial situation. The aim of the paper is to describe the process of value creation starting with corporate governance, continuing with stakeholders’ expectations and finishing with shareholders requests.
Audit Committee Independence and Auditor-Manager Disputes
2020
This paper analyzes the role of audit committee independence in resolving disagreements between management and the auditor regarding financial reporting. The common intuition suggests that the audit committee must be independent from management to be able to support the auditor against the manager's manipulation attempts. We build a one-period strategic model to show that this intuition is valid only if overinvestment is a bigger concern to shareholders than underinvestment. Otherwise, any audit committee will agree with management to avoid underinvestment. The audit committee's optimal independence level, which can be fully independent or partially dependent, is affected by investment effi…
Artesanado sedero y capital comercial en la Valencia del siglo XVIII
1997
The intense development of the «Verlagssystem» in the XVIII century silk industry in Valencia showed the difficulties of the traditional craftsmen to keep their economic independence. In order to fighy against it, the craftsmen adopted several initiatives, which dealt with the constitution of a share-holding company, as much as with the creation of a communal store to favour the suppley of raw materials to the factories. The most important project was the constitution of the «Compañía de Nuestra Señora de los Desamparados» in 1772. But the requirement of the General Board of Commerce to allow all the social classes to take part in shareholders, as it was not accompanied by the modification …
The Impact of Macroeconomic Variables on Corporate Performance - What Shareholders Ought to Know?
2002
Increased integration and growing macroeconomic fluctuations require more attention to be paid to the link between the "noise" that these fluctuations represent and the company's own development. For many reasons management must weed out the effects of the "noise" so as to obtain a clear picture of the long-term sustainable profits, and thus a picture of how the company's intrinsic competitiveness is fostered. An understanding of the effects of the fluctuations also provides the basis for risk assessment. How far, then, should this "new" view of corporate performance be extended to outsider shareholders? Current reporting practice does not provide these shareholders with an adequate idea of…
Inovacijos ir bendrovės vertė: Baltijos šalių patirtis
2021
Inovacijos yra konkurencingumo pagrindas. Kartu pagrindinis vadovo uždavinys yra savininkų turto maksimizavimas, todėl svarbu tyrinėti inovacijų ir bendrovės vertės santykį. Šio tyrimo tikslas – ištirti inovacijų poveikį organizacijos vertei. Tiriamos Baltijos šalių bendrovės, veikusios 2005–2011 metų laikotarpiu. Tyrimas parodė, kad inovatyvių bendrovių vertė yra didesnė, didesnės ir jos pačios. Nustatyta, kad didesnė bendrovės vertė pasiekiama, jei nematerialių išteklių dalis viršija 1 %. Taikant koreliaciją ir regresinę analizę, nustatyta, kad inovacijos yra svarbi organizacijos vertės determinantė, organizacijos dydis yra silpnesnis veiksnys, o augimas – pats silpniausias veiksnys. Stra…
Do local proxy advisors matter? – Evidence from Germany
2021
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 gov...
Internationalization via strategic alliances in family businesses.
2004
It has been observed in previous studies that certain characteristics of family businesses may impede internationalization. These characteristics include the concentration of decision-making in the hands of a single shareholder or small group of shareholders, delays in the succession process, aversion to internationalization, etc. Despite these obstacles, a large number of family businesses have chosen to internationalize as a means of revitalizing themselves. The results of the study reported here indicate three important pre-requisites for family businesses that are seriously considering internationalization as an aid to growth: they need to have a market-leading product, adequate financi…
Knowledge management in developing regions: the case of Valle de Aburrá, Colombia
2019
This study aims to identify the components of a knowledge management (KM) model to support innovation governance in a Colombian cosmetics cluster. The inter-organisational management of knowledge applied to innovation governance, and the perspective of endogenous economic development emphasises the structural specificities of developing countries. In line with this objective, the community-based participatory research (CBPR) and Delphi methods were combined to collect information from the cluster's different stakeholders, among them dependent shareholders who expressed their views through spokespersons. In an initial stage, a knowledge management model was built. After a second stage with a…
Augmented Reality Applications in the Transition Towards the Sustainable Organization
2016
Business companies are increasingly aware that the world where they operate in is facing increasing environmental, economic and social challenges, thus there is a trend in most companies to align their processes and services with a sustainability agenda. Customers, shareholders, financial partners, governmental agencies, NGOs, globalization and internationalization of environmental and social standards exert new pressures on them to do so. Industry is widely recognized as being essential for wealth creation and development, although it is at times considered a source of environmental degradation and social concerns. Thus, industry must play an important role for the transition towards the s…
Zur Einberufung der Hauptversammlung durch die nach § 122 Abs. 3 AktG ermächtigte Aktionärsminderheit
2014
DeutschDie durch eine Aktionarsminderheit einberufene auserordentliche Hauptversammlung der Balda AG vom 18. 7. 2013 1 hat gezeigt, dass Rechtsstellung und Befugnisse der gerichtlich zur Einberufung ermachtigten Minderheit bislang wenig geklart sind. In besonderer Weise gilt dies fur die Frage, ob der einberufende Aktionar befugt ist, eine Anmeldestelle zu benennen, und in der Folge Aktionare, die sich innerhalb der Frist des § 123 Abs. 3 Satz 2 AktG unter der angegebenen Adresse anmelden, zur Teilnahme an der Hauptversammlung berechtigt sind. Der Beitrag bejaht diese Frage. EnglishUnder Section 122 Para. 3 of the German Stock Corporation Act, a court may authorise shareholders to call a sh…