Search results for "shareholder"
showing 10 items of 84 documents
Opinia prawna na temat beneficjenta rzeczywistego w przypadku spółki kapitałowej, której jedynym (100%) udziałowcem czy akcjonariuszem jest zakon, bą…
2020
Celem niniejszej opinii prawnej jest udzielenie odpowiedzi na pytanie: Kto jest beneficjentem rzeczywistym w przypadku spółki kapitałowej, której jedynym (100%) udziałowcem czy akcjonariuszem jest zakon bądź jego jednostka organizacyjna (prowincja zakonna, opactwo, klasztor niezależny, dom zakonny)? Przeprowadzone analizy przepisów prawa polskiego i prawa kanonicznego prowadzą do wniosku, że w przypadku spółki kapitałowej, której jedynym (100%) udziałowcem czy akcjonariuszem jest zakon bądź jego jednostka organizacyjna (prowincja zakonna, opactwo, klasztor niezależny, dom zakonny) beneficjentem rzeczywistym jest właściwy wyższy przełożony tego zakonu oraz członkowie jego rady. Osoby te speł…
The role of negative and positive forms of power in supporting CSR alignment and commitment between large firms and SMEs
2018
Do large firms exert power to shape the CSR behavior of their SME partners?” We answer this question by proposing a model built on the stakeholder theory and the shareholder theory, and go on to explain how this impact influences the commitment of the SME towards their large partner. The model highlights the central role that different forms of power exercised by the large firm play in the process. A survey of 291 SMEs confirms the key hypotheses, including the mediating role of reward power. The effects of coercive power are noteworthy and they illustrate the complex and competing forces at play in influencing CSR behavioral change in SMEs. The research makes a novel contribution to practi…
Sustainable Development Model for the Automotive Industry
2019
The relationship between sustainability and business has become one of the central debates at the national and international level in both industrialized and emerging countries. A series of existing business models lack some critical aspects. The automotive industry strongly affects economic development, requiring rethinking business models in order to reduce their impact on the environment. An evaluation of the websites of the major automotive industry companies shows they have reported sustainability (through different methods) and present various practices in implementing organizational sustainability (OS). This paper aims to present a new business model for the automotive industry that …
Corporate Governance: Stakeholder Value Versus Shareholder Value
2001
Unsatisfied with the dominating shareholders point of view, that appears to be too limited to build a relevant theory of corporate governance, we propose an enlarged definition of the value which may be called, the stakeholder value. This definition and its associated measure are more suitable for the stakeholder approach to the firm and more relevant to understand the value creation and sharing mechanisms.
OS ECJ-TF 1/2019 on the ECJ Decision of 31 May 2018 in Hornbach-Baumarkt (Case C-382/16) Concerning the Application of Transfer Pricing Rules to Tran…
2019
This article is focused on the Court's decision in Hornbach-Baumarkt (Case C-382/16) (Hornbach) which is an important clarification of the conditional compatibility of arm's length-based domestic transfer pricing legislation with the freedom of establishment. Hornbach follows and confirms the previous doctrine formulated in SGI (Case C-311/08). The decision did not follow Advocate General's approach, which would have denied comparability of domestic and cross-border situations in transfer pricing cases and, hence, prevent scrutiny of domestic transfer pricing legislation under the fundamental freedoms. The authors welcome the requirement that Member States have to grant taxpayers the opport…
Self-Enforcing, Public-Order Institutions for Contract Enforcement: Litigation, Regulation, and Limited Government in Venice, 1050–1350
2011
The spectacular economic growth of Venice during the late medieval period (1050–1350) was based on the expansion of its trade along the Mediterranean and beyond. Crucial to this expansion was the mobilization of large amounts of capital into risky investments. However, this mobilization required the development of institutions that protected creditors and shareholders from expropriation by controlling merchants. This chapter finds that legal and administrative institutions conjointly provided investor protection and explores the interactions between these public-order institutions for contract enforcement and the emergence of a limited government, a coercion-constraining institution that mo…
Bank Reliability Assessment Model: Case of Latvia
2020
Reliable and stable banks are an important precondition for the sustainable development of national economy. The objective of the chapter is to design a model allowing assessment of bank reliability in the context of bank financial strength. The model is designed using publicly available financial statement data of Latvian commercial banks, in the period of 2003–2016, macroeconomic data as well as aggregate statistical data of Latvian banking sector. The model allows calculation of ratings reflecting reliability level of banks. The model is designed based on the multiple choice model ordered logit. The chapter identifies the most important factors reflecting reliability level of banks, incl…
Corporate Governance of Banks after the Financial Crisis - Theory, Evidence, Reforms
2010
Poor corporate governance of banks has increasingly been acknowledged as an important cause of the recent financial crisis. Given the developments since the Asian financial crisis in 1997, this fact is not readily to be explained. Listed banks and even non-listed firms worldwide have publicly emphasized that good corporate governance is of vital concern for the company, and have adopted firm-specific corporate governance codices. Moreover, banking supervisors have taken up the issue. In particular, the Basel Committee on Banking Supervision has already published two editions of a guideline entitled “Enhancing corporate governance for banking organisations” which perfectly reflects the super…
The Uncertain Role of Banks’ Corporate Governance in Systemic Risk Regulation
2011
This paper examines how corporate governance reform of banks relates to systemic risk. Although there has been substantial emphasis on the importance of corporate governance of banks, it is not entirely clear how this enterprise relates to the goal of financial stability. The first part of the paper differentiates between kinds of risk that arise from the structure of the firm, such as shareholder ownership, limited liability and the separation between control and ownership, and kinds of risk that arise from interactions at the systemic level. It highlights why the risk-taking of banks presents, in many respects, a special case not only because of the structure of their business but also becau…
Shareholder Wealth Effects of Women on Boards Promoting Policies: Evidence from Germany
2017
This study discusses differences in the effectiveness of voluntary and mandatory policies promoting women on boards and their potential effects on stock price returns. Furthermore, it classifies the announcements of the policy proposals discussed in Germany and analyzes their impact using event study methodology. The event date identification follows a two-step procedure employing search engine query data from GoogleTrends and traditional search methods using Lexis-Nexis and newspapers. One key event produces negative significant cumulative abnormal stock returns (CAR) of approximately 1.3 percentage points. Further regression analysis of the CAR reveals that the share of women on the super…