Download or read book Disclosure Quality Corporate Governance Mechanisms and Firm Value written by Radwa Magdy Mohamed Anis and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Contingency Theory written by Abdul Ghofar and published by Springer. This book was released on 2014-11-19 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the determinants and effectiveness of corporate governance in an integrated model drawing on contingency theory and employing structural equation modeling (SEM). Business competition as an environmental factor and strategy as an organizational factor are important determinants of corporate governance, while organizational performance and earnings quality are two dimensions of its effectiveness. This book focuses on the relationship between corporate governance and earnings management, and shows that corporate governance is effective in improving earnings quality and reducing accounting and governance risks. The authors also question the relation between corporate governance and company performance and present results of their analysis in this book.
Download or read book The Impact of Disclosure Quality on Corporate Governance and Earnings Management written by Citrawati Jatiningrum and published by . This book was released on 2016 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between corporate governance and earnings management with disclosure quality as a moderating variable in the scenario of highly concentrated ownership and less protected investors. The data obtain from listed Indonesian manufacturing companies using Moderated Regression Analysis (MRA) method complete the analysis of the interaction effects. The results reveal a significant effect of disclosure quality on the relationship between corporate governance mechanisms and earnings management. This study shows that disclosure quality and good corporate governance can reduce earnings management manipulation. The results are expected to contribute significantly to the existing knowledge on the concentrated ownership among companies on corporate governance, disclosure quality, and earnings management. Also, the findings will assist policy makers and regulators to facilitate directions for manufacturing sector and their operations in the future.
Download or read book Corporate Governance and Organisational Performance written by Naeem Tabassum and published by Springer Nature. This book was released on 2020-06-28 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.
Download or read book Handbook of Corporate Finance written by Bjørn Espen Eckbo and published by Elsevier. This book was released on 2007-05-21 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms' financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything "corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work.*The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance*Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance*The series is international in scope with contributions from field leaders the world over
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 Corporate Governance and Accountability of Financial Institutions written by Jonas Abraham Akuffo and published by Springer Nature. This book was released on 2021-01-06 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The presence of sound corporate governance in a financial institution is important in maintaining the confidence of both the market and the public. The power that corporate governance holds over the success of some of the largest financial institutions in the world is not to be downplayed. This book methodically assesses the quality of corporate governance and mechanisms of accountability disclosures to various stakeholders. It is further intended to provide fresh insights into some specific corporate governance recommendations to help improve good governance in financial institutions, particularly in the United Kingdom and the EU but will also be applicable to other major economies. It explores what, when and how corporate governance has changed the financial institution functions and corporate executive behaviour by critically reviewing the pre- and post-financial crisis theoretical and empirical literature. Increasingly driven by the nature of complications, complexities and opacity in the operations of financial systems, corporate governance reporting plays an important role in the financial sector. It will provide insights into corporate governance disclosures over a long-term basis. This book should be a valuable asset to support the research of practitioners, students and all academics due to its stimulating and reflective insights into this fascinating topic.
Download or read book Integrated Reporting State of Play Theoretical Underpinnings and Empirical Insights written by Nicola Raimo and published by FrancoAngeli. This book was released on 2022-01-13T16:20:00+01:00 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: 365.1260
Download or read book Corporate Governance in China written by Wei'an Li and published by John Wiley & Sons. This book was released on 2008 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Great progress has been achieved for the structural reform in China enterprises for the past one and a half decades. Along with the reform, the corporate governance structure has been established accordingly. The Chinese Corporate Governance Index (CCGINK) is a useful tool to objectively observe and analyze shareholder behavior, board execution, management incentive and restriction, supervisory committee operation, information disclosure and stakeholders’ interest protection, and is helpful in diagnosing issues that may arise during corporate operations. The CCGINK provides guidance for improvement of corporate governance, and can be used to enhance the sustainable development of corporations.—Chen Qing-Tai, Vice Director, Economic Committee, National Committee of Chinese People’s Political Consultative Conference (CPPCC), Former Vice Director of Development and Research Center of the State Council Dean, Public Administration School of Tsinghua University The phenomenal growth of China's capital markets during the past decade belies the fact that Chinese companies have only gradually adopted modern corporate governance structures. Professor Li’s book offers a candid and timely assessment of the quality of the governance mechanisms they employ including the factors that influence their quality and how they relate to subsequent corporate performance. A proper understanding is critical for global investors with an interest in China's markets and for scholars who seek to disentangle corporate governance theory and practice in a fascinating market place. —G. Andrew Karolyi, Charles R. Webb Professor of Finance The Ohio State University Corporate governance is a vital issue that China listing companies and enterprises has to deal with. This book reports an important investigation on the subject of corporate governance. As a major result of the study, a series of governance indices conforming to China’s situation were proposed in the book. The author of the book hence received the Award of Outstanding Contribution in Chinese Enterprise Management, and I was very pleased to preside the ceremony to present him with this prestigious award. —Cheng Si-Wei, Vice Chairman of the Standing Committee of National People’s Congress, Vice President of Fudan Management Award Foundation Corporate governance issues are important around the world. The ability of a firm to raise capital, to align with partners, and ultimately, to sell products and services to customers, all depend, to some extent, on the quality of corporate governance. This is why the research reported here is so important. That it focuses on corporate governance among Chinese corporations makes it all the more important. With only a limited history of publicly-traded firms, Chinese firms are inventing—right now—the kinds of corporate governance they will need to compete in global markets. It is hard to imagine a more timely research endeavor. —Jay B. Barney, Professor and Chase Chair for Excellence in Corporate Strategy, The Ohio Stae University
Download or read book Corporate Governance Disclosure Content and Shareholder Value written by Mohammad Jizi and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis was the largest shock to the financial system in decades. Its implications on banks' performance, corporate image and stakeholders' trust are of a high concern for all interested parties. Banks market capitalisation dropped significantly, risk levels increased and stakeholders' confidence was shaken. This raises the importance of researching this particular area of primary concern to seek potential approaches intended to help banks to recover through increased disclosures, helping to rebuild trust and manage risk levels. Acknowledging societal needs and having effective dialogue with shareholders and stakeholders regarding banks' social profile as well as risk management practices is likely to reduce the uncertainty gap, shape banks' image and manage trust. These are indeed valuable in the wake of the financial crisis for bank continuity and enhancing shareholder value. I argue that effective corporate governance is likely to encourage more corporate social responsibility (CSR) and risk management (RM) disclosure, which in turn is expected to improve stock prices and reduce return volatility. The study examines potential solutions that assist in the management of the increasing risk levels, shaken confidence and falling market values resulting from the recent financial crisis. It contributes toward better understanding to the influence of internal corporate governance mechanisms on CSR and RM disclosure content and their substantive consequences on shareholder value. Examining a sample of US national commercial banks in the wake of the financial crisis indicates that boards with larger size, higher independence and CEO duality are inclined toward reporting a wider range of CSR and RM disclosures in annual reports, aiming to benefit the bank's transparency and stakeholders' long-term mutual relationship. Contrary to CSR disclosures, the number of audit committee financial experts was found to encourage better RM disclosure content implying the difference in influence on voluntary and mandatory disclosures. Insights into the desirable consequences CSR and RM disclosures content have on shareholder value are also evidenced. The study finds evidence supporting the association between CSR disclosure content and stock return indicating investors' interest in, and consideration of, CSR information when valuing assets and building their trading decisions. The results also suggest that higher RM disclosure score reduces uncertainties of bank risk environment and provides investors with valuable information to assess financial assets and monitor management practices. This was reflected as an improvement to stock return and reduction to return volatility. Thus, effective corporate governance is more tending to enhance shareholder value through encouraging better CSR and RM disclosure content. Corporate governance should sponsor and introduce the perception of doing business responsibly and benefit from RM disclosure as a preventive tool assisting in the management of agency problems and bank risks. The economic consequences of CSR and RM disclosures imply that CSR engagement and reporting is an investment rather than an expense, and RM disclosure is a preventive tool rather than an exercise to comply with legislation requirement. Consequently, considering their content is important for better shareholder value.
Download or read book Corporate Governance and Sustainability written by Suzanne Benn and published by Routledge. This book was released on 2013-01-11 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, as corporations and governments have increasingly been confronted with managing the expectations of a society newly alerted to the social and environmental risks of economic development, recognition is dawning that achieving a sustainable world is dependent upon the democratic management and equitable distribution of these risks for now, and for the future. This book, the first to explore the themes of corporate governance and sustainability, argues that a better system of governance on a number of levels holds the key. Contributed to and edited by a distinguished international team, this book recognizes the complex and contested nature of both sustainability and governance, and that these key concepts have been redefined considerably over time. As sustainability poses new and major challenges for the theory and practice of corporate governance, this book, ideal for postgraduate students of business and management, identifies and addresses these challenges.
Download or read book Corporate Governance Disclosure Index Executive Pay Nexus written by Mohamed Elmagrhi and published by . This book was released on 2018 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper first employs principal component analysis technique to develop and introduce an alternative UK corporate governance disclosure index to the US-centric ones. Second, we then investigate whether this new corporate governance disclosure index can determine the level of executive pay (including CEOs, CFOs, and all executive directors) in UK listed firms, and consequently ascertain whether the governance mechanisms can moderate the pay-for-performance sensitivity. Employing data on corporate governance, executive pay and performance from 2008 to 2013, we find that, on average, better-governed firms, tend to pay their executives lower compared with their poorly-governed counterparts. Additionally, our findings suggest that the pay-for-performance sensitivity is generally positive, but improves in firms with high corporate governance quality, implying that the pay-for-performance sensitivity is contingent on the quality of internal governance structures. We interpret our findings within the predictions of optimal contracting theory and managerial power hypothesis.
Download or read book Corporate Governance and Strategic Decision Making written by Lawrence Emeagwali and published by BoD – Books on Demand. This book was released on 2017-09-20 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume aims to intimate and orient readers on the current state of corporate governance and strategic decision making a decade after the global financial crises. In particular, it sheds more light on the current state of affairs of corporate governance mechanisms, codes, and their enforcement as well as novel issues arising. The ten constituent chapters contained herein are authored by seasoned academics with research interests in the areas of corporate governance, strategic management, and sustainable management practices. It provides up-to-date theoretical and empirical evidence of such corporate governance issues as corporate governance codes, corporate fraud, quality of earnings, strategic decision making, corporate social responsibility, sustainable management, and sustainable growth strategies. Irrespective of the diverse nature and span of the topics included, this edited volume is divided into three sections and structured to read as a unit.
Download or read book East Asia written by and published by World Bank Publications. This book was released on 1998-01-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asia: The Road to Recovery carefully analyzes the events that led to the current economic crisis in East Asia, the tremendous effects the crisis has had on the Asian economies, and prospects for the region's future. Chapters in the book cover the region's trade and competitiveness; the financial sector at the center of the crisis; the corporate sector's financial performance and governance; the social crisis resulting from the financial crash; protection of the environment as well as the people; and policies for sustainable recovery. This book not only discusses how this catastrophe could ever have taken place, but more importantly, what can be done to ensure that it won't happen again.
Download or read book Non Financial Disclosure and Integrated Reporting written by Lucrezia Songini and published by Emerald Group Publishing. This book was released on 2020-03-12 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: For researchers and managers interested in performance measurement, this volume includes innovative research that sheds light on topics such as the determinants of disclosure quality, the identification of appropriate metrics, the relationship among the different disclosure mechanisms and between voluntary and mandatory disclosure, and many more.
Download or read book Corporate Governance Product Related Voluntary Disclosure and Analysts Forecasts Properties written by Luminita Enache and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of US biotech firms, this paper examines the joint impact of product-related voluntary disclosure and corporate governance on a firms' information environment, specifically on analysts forecast accuracy, dispersion, precision of public and private information. Moreover, we investigate whether voluntary disclosure was consistently disclosed over time. Our findings, shows that the quality of corporate governance affects information transparency and play a role in reducing the uncertainty associated with future firms' performance by increasing the precision of analysts' common information and forecast accuracy, only when voluntary disclosure is constant over time. Analysts forecast dispersion decreases when more independent directors sit on the board. Voluntary disclosure and corporate governance quality are two mechanisms that act as complement to improve the quality of information available to financial analysts.
Download or read book Corporate Governance Post Sarbanes Oxley written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2007-10-05 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Post Sarbanes-Oxley introduces a corporate governance structure consisting of seven interrelated mechanisms of oversight: managerial, compliance, audit, advisory, assurance, and monitoring. The book begins with a discussion of the new requirements for corporate governance and financial reporting brought about by Sarbanes-Oxley and then shows how a well-balanced functioning of the seven mechanisms produces a responsible corporate governance structure that ensures quality financial reporting and credible audit services. Each chapter includes checklists, real-world case studies, and best practice tips.
