Download or read book A Study on the Corporate Governance and Disclosure Practices of Tangible Assets and Intangible Assets Dominated Firms and Their Relationship written by Pankaj Madhani and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance stands for responsible business management geared towards long-term value creation. Prior research found significant relationship between asset composition (tangible versus intangible assets) and corporate governance disclosure practices of firms. However, there is very little research in the current Indian context. Hence, this paper explores such a relationship for firms listed on the Indian stock market by considering a sample that includes firms from nine different sectors, viz., metal, oil and gas, power, IT, FMCG, capital goods, auto, consumer durables and healthcare. It applies Corporate Governance and Disclosure (CGD) index as a proxy for firm-specific rating of governance quality and calculates CGD scores of sample firms listed on Bombay Stock Exchange (BSE). To identify intangible assets dominance in firms, the ratio of market value to book value and capital intensity of sample firms are calculated. Accordingly, firms are divided into tangible assets-dominated and intangible assets-dominated sectors. The findings reveal that there is no significant difference in the corporate governance and disclosure practices of firms across tangible asset- and intangible asset-dominated sectors. The research identifies several reasons why this proposition does not hold true for firms in the current economic environment of India.
Download or read book Study of Corporate Governance Practices and Asset Composition of Firms written by Pankaj M. Madhani and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior research found significant relationship between asset composition and corporate governance disclosure practices of firms. However, in current Indian context there is very little research about it. Hence, this research works in this direction to explore such relationship for firms listed in Indian stock market. The research sample represents different sectors viz. Metal, Oil & Gas, Power, IT, FMCG, and Health Care. It applies corporate governance and disclosure (GCD) index as a proxy for firm-specific rating of governance quality and calculates corporate governance and disclosure scores of sample firms. To identify asset composition of firms, capital intensity as well as market value to book value ratio of sample firms was also calculated. Accordingly, firms were divided into tangible asset dominated and intangible asset dominated sectors. According to this research, there is no significant difference in the corporate governance and disclosure scores across asset dominated and intangible asset dominated sectors firms. This research identifies several reasons why this proposition does not hold true for Indian firms in current environment.
Download or read book Corporate Business Strategies The Present Scenario written by Dr G Vani Dr M Ganesh babu and published by Archers & Elevators Publishing House. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Integrated Reporting and Corporate Governance written by Laura Girella and published by Routledge. This book was released on 2021-02-15 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance and corporate reporting are closely linked to each other, and their respective evolutionary patterns are mutually influencing. Along with the recent expansion of company disclosure, a growing attention is being paid to corporate governance determinants and mechanisms underpinning the decision to voluntarily adopt non-financial disclosure formats, such as integrated reporting. At institutional level, several national corporate governance codes have been changed towards the recognition and inclusion of this innovative, non-financial language. In academic research, the influence of corporate governance variables vis-à-vis the choice to embrace such reporting practices has been subject to a long scrutiny. However, only a little inquiry has so far analysed the influence of corporate governance factors on integrated reporting adoption, quality, and credibility. Accordingly, the aim of the book is to investigate if, and to what extent, corporate board composition and characteristics can affect, at the same time, the decision to voluntarily adopt integrated reporting by companies as well as their financial performance. The study carries out an empirical analysis of the professional features of board members at the time of their decision to implement integrated reporting as a new form of company accountability. The work provides innovative insights into the articulated relationships between the quantitative and qualitative composition of corporate boards and the latter’s choice to uptake this advanced form of reporting to represent the wider value creation processes of their organisations.
Download or read book Beyond Governance written by Martin Fahy and published by John Wiley & Sons. This book was released on 2005-04-08 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a series of corporate scandals, legislators have company executives in their sights, and are arming themselves with ever-greater regulatory firepower. All agree that good governance is essential - but must not be allowed to stifle business performance. Beyond Governance develops the concept of Enterprise Governance, an emerging framework which unites Performance, Conformance and Corporate Responsibility and shows how addressing all of these areas in a concerted, coordinated fashion will deliver value to the organisation and its stakeholders. In particular, it focuses on the skills, processes and systems that are required to deliver excellence in each of these areas, giving readers a practical insight into the issues and an understanding of best practice in each area. Many firms are rethinking their finance activities in the light of e-commerce, shared service centres, business intelligence technology and cost pressures. Beyond Governance explores the challenge of building a modern, flexible finance function, describing the emerging role of the new CFO and how finance professionals should respond to this new business environment.
Download or read book The Role of Institutional Investors in Corporate Governance written by P. Nix and published by Springer. This book was released on 2013-07-12 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: What role do independent institutional investors play in the corporate governance of listed German companies? The authors provide insight into an empirical and qualitative research study, exploring the importance of communication and the role, independence and expertise, responsibilities, influence and monitoring of institutional investors.
Download or read book Corporate Governance in Alternative Investment Market AIM Companies written by Chris Mallin and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relationship between company and market-related variables, and the disclosure level of voluntary corporate governance practice in the UK's Alternative Investment Market (AIM) companies. AIM is a market that has grown rapidly in the last decade, attracting companies from around the world. It has a 'lighter touch' regulatory regime which has made it more attractive for companies seeking their first listing, or companies seeking an overseas listing in a well-respected market.Using a sample of 300 financial reports and accounts of AIM companies, we carry out regression analysis which indicates that age, company size, board size and the presence of turnover (i.e. the company is active) are positively associated with the adoption, and disclosure, of recommended governance practice. Our study also reveals that more highly geared AIM companies tend to make less disclosure. Overall, our findings suggest that the internal dynamics of AIM companies exert a greater influence on voluntary corporate governance disclosures than do market-related factors.We contribute to the literature on AIM companies and corporate governance in two main ways. First, we provide evidence on the extent of disclosure of corporate governance by AIM companies, an area where research has been largely absent. Secondly, we provide some insights into which company-level and market-related variables may be significant to corporate governance disclosure. Our findings have implications not just for the UK but also for overseas companies listed on AIM, and for countries who either have, or are considering introducing, a similar market.
Download or read book Following the Money written by George Benston and published by Brookings Institution Press. This book was released on 2004-05-13 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and American Enterprise Institute publication A few years ago, Americans held out their systems of corporate governance and financial disclosure as models to be emulated by the rest of the world. But in late 2001 U.S. policymakers and corporate leaders found themselves facing the largest corporate accounting scandals in American history. The spectacular collapses of Enron and Worldcom—as well as the discovery of accounting irregularities at other large U.S. companies—seemed to call into question the efficacy of the entire system of corporate governance in the United States. In response, Congress quickly enacted a comprehensive package of reform measures in what has come to be known as the Sarbanes-Oxley Act. The New York Stock Exchange and the NASDAQ followed by making fundamental changes to their listing requirements. The private sector acted as well. Accounting firms—watching in horror as one of their largest, Arthur Andersen, collapsed after a criminal conviction for document shredding—tightened their auditing procedures. Stock analysts and ratings agencies, hit hard by a series of disclosures about their failings, changed their practices as well. Will these reforms be enough? Are some counterproductive? Are other shortcomings in the disclosure system still in need of correction? These are among the questions that George Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer address in Following the Money. While the authors agree that the U.S. system of corporate disclosure and governance is in need of change, they are concerned that policymakers may be overreacting in some areas and taking actions in others that may prove to be ineffective or even counterproductive. Using the Enron case as a point of departure, the authors argue that the major problem lies not in the accounting and auditing standards themselves, but in the system of enforcing those standards.
Download or read book Corporate Governance Risk and Corporations Law written by Michael C. I. Nwogugu and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been substantial activity and discussion in the public and private sectors about corporate account ability and the quality of corporate disclosure. These issues have had substantial impact on many US companies, Japanese banks and European companies, particularly those that grew through mergers and acquisitions. Many companies have had to restate their financial statements. Service companies and technology companies now account for a substantial portion of the US economy and many modern economies. The growth of this type of entity (particularly by mergers and acquisitions) presents numerous public policy, legal, regulatory and accounting issues. Some of these companies have substantial in tangible assets, the accounting for Mamp;A and investments can be manipulated to affect reported assets and earnings. The exchange of securities and conflicts of interest inherent in such transactions can affect financial statements - all of these factors can distort strategic planning, legal analysis, performance analysis and credit analysis. Fraudulent conveyance has typically not been considered in detail in many real life transactions (processed by law firms, the SEC, accounting firms and banks), and in published materials on corporate transactions, even though fraudulent conveyance is the major means of unfair and illegal wealth transfer and fraud in corporate transactions. This paper highlights some of these issues, and illustrates the role and benefits of proper legal analysis in corporate transactions, and the convergence of corporate financial analysis and legal analysis and tax/accounting analysis. This paper also presents reasons for changes in the disclosure and accounting requirements for intangible assets, regulatory approval processes for Mamp;A and recapitalizations, and accounting for mergers and acquisitions. All financial data is as of April 2000.
Download or read book The Modern Corporation and Private Property written by Adolf Augustus Berle and published by . This book was released on 1937 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The End of Accounting and the Path Forward for Investors and Managers written by Baruch Lev and published by John Wiley & Sons. This book was released on 2016-06-14 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Download or read book Corporate Governance Credit Risk and Legal Reasoning the Case of Encompass Services Inc written by Michael C. I. Nwogugu and published by . This book was released on 2003 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been substantial activity and discussion in the public and private sectors about corporate accountability and the quality of corporate disclosure. These issues have had substantial impact on many US companies, Japanese banks and European companies, particularly those that grew through mergers and acquisitions. Many companies have had to restate their financial statements. Service companies and technology companies now account for a substantial portion of the US economy and many modern economies. The growth of this type of entity (particularly by mergers and acquisitions) presents numerous public policy, legal, regulatory and accounting issues. Some of these companies have substantial intangible assets, the accounting for Mamp;A and investments can be manipulated to affect reported assets and earnings. The exchange of securities and conflicts of interest inherent in such transactions can affect financial statements - all of these factors can distort strategic planning, legal analysis, performance analysis and credit analysis. Fraudulent conveyance has typically not been considered in detail in many real life transactions (processed by law firms, the SEC, accounting firms and banks), and in published materials on corporate transactions, even though fraudulent conveyance is the major means of unfair and illegal wealth transfer and fraud in corporate transactions. This paper highlights some of these issues, and illustrates the role and benefits of proper legal analysis in corporate transactions, and the convergence of corporate financial analysis and legal analysis and tax/accounting analysis. This paper also presents reasons for changes in the disclosure and accounting requirements for intangible assets, regulatory approval processes for Mamp;A and recapitalizations, and accounting for mergers and acquisitions. All financial data is as of April 2000.
Download or read book Corporate Governance of State Owned Enterprises written by World Bank Publications and published by World Bank Publications. This book was released on 2014-10-02 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.
Download or read book Intangibles written by Baruch Lev and published by Rowman & Littlefield. This book was released on 2000-12-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first comprehensive, scientifically based study of the nature and impact of intangibles. Weaving case studies and real-world examples with contemporary business theory, Baruch Lev - establishes an economic framework to analyze managerial and investment issues concerning intangibles; - surveys the impact of intangibles on corporate performance and market values, including management difficulties, risk, questions of property rights, marketability, and cost structure; - analyzes information deficiencies associated with intangibles, including the major economic principles governing intangible investments, limits of management information systems, and recommendations for improved accounting disclosure; - sets forth a comprehensive information system—aimed at satisfying the needs of both internal and external decision makers—to reflect the impact and value of intangibles within the context of enterprise performance.
Download or read book Corporate Governance and Disclosure of Related Party Transactions written by Masood Fooladi and published by . This book was released on 2013 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regarding the dual effect of related party transactions (RPTs), it is difficult to prescribe such transactions are beneficial or detrimental to the firm performance. However, disclosure of RPTs can provide stakeholders with necessary information to either discipline firms that engage in RPTs or take precautions against them. In effect, information asymmetry between related parties who involved in RPTs and other stakeholders is the main issue in these transactions. On the other hand, an important role of corporate governance (CG) is monitoring financial information disclosure as a means to relieve this information asymmetry. However, the theoretical literature in RPTs over the last decades has not given considerable attention to the relationship between CG and disclosure of RPTs. Therefore, the objective of this study is to explore the perceptions of experts on the relationship between CG and disclosure of RPTs. A Delphi method is adopted, drawing on semi-structured interviews with four experts to obtain a consensus on the opinion of experts. Analyzing of interviewees' response suggests that these transactions can be done under the supervision of CG mechanisms to make more benefit for the firm. Furthermore, CG requires managers to make an appropriate disclosure of RPTs to help investors making their own judgments, whether the RPTs are value enhancing or value destroying. Interestingly, this study points that regulators and researchers should consider the diverse nature of relationships between company and its related parties in different countries because of cultural or social characteristics. In addition, the evidence indicates that the interviewees placed a great importance on the factors such as the competency, knowledge, and political agenda of management, ethic of CEO and psychological attributes of the top managers in CG.
Download or read book Accounts in Corporate Governance written by Daniel Johanson and published by . This book was released on 2006 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance in Asia written by Sang-Woo Nam and published by . This book was released on 2004 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
