Download or read book The Impact of Reported Corporate Governance Disclosure on the Financial Performance of Companies Listed on the JSE Securities Exchange South Africa written by Andrew Abdo and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of Reported Corporate Governance Disclosure on the Financial Performance of Companies Listed on the JSE written by Kabi Kolobe and published by . This book was released on 2010 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance in South Africa written by Warren Maroun and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-04-20 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an examination of corporate governance in South Africa which includes an overview of the history of corporate governance and summary of the key provisions of South Africa’s codes on corporate governance from 1994 to 2016. The aim is to provide a comprehensive reference for academics and practitioners interested in South African corporate governance and to illustrate how corporate governance practices evolve in a developing African economy. It also includes a review of the research dealing with the drivers and consequences of South African corporate governance. The focus is on South African-specific research which is complemented with international references. This book will be highly relevant to both accounting/governance academics and the broader practitioner community.

Download or read book Trends in Integrated Reporting by JSE Listed Companies written by Nkabaneng Tebogo Mashile and published by . This book was released on 2015 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance and Corporate Social Responsibility written by Sabri Boubaker and published by World Scientific. This book was released on 2014-09-26 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: While emerging market economies do not have a mature market structure yet, there is a need for research on corporate governance practices in these economies from different perspectives, including corporate social responsibility. Corporate Governance and Corporate Social Responsibility: Emerging Markets Focus fills the gap with a collection of high-quality research and policy-based papers addressing these issues, using various market cases as illustrations. Unlike previous books that often focused on one or several emerging markets, this book covers a much broader set of countries and tackles ethical, legal and societal aspects of corporate governance, beyond financial issues. It also discusses how companies work towards best corporate governance practices, particularly, in the aftermath of recent financial and economic crises. Readers will benefit from the wide range of theoretical, empirical, and case analyses, selected with care to reflect cutting-edge corporate governance and corporate social responsibility issues in countries with emerging markets. Contents: Corporate Governance: Legal Framework and Codes of Best Practices: Corporate Governance Bundles for Emerging Markets (Rahul Bedi and Darshan Desai); OC GoodOCO Corporate Governance in Transformation Countries OCo A Comparison of Experts' Perceptions in East Germany, Estonia and Hungary (Thomas Steger, Ruth Alas and Klliki Tafel-Viia); Corporate Governance, Policies and Public Listing: The Case of Chinese State-owned Enterprises (Zigan Wang); Corporate Governance in Turkey: The Case of Borsa Istanbul 50 Companies (Esra Nemli Caliskan and Basak Turan Icke); Barriers to Effective Corporate Governance Reforms: Corruption and the Peculiar Case of Nigeria (Ngozi Okoye); The Brazilian Fiscal Council OCo Protecting Minority Shareholders in a Weak Legal System (Jairo Laser Procianoy and Roberto Frota Decourt); Using Market Incentives to Move Beyond Law and Regulation in Emerging Markets OCo The Case for Corporate Governance Stock Exchange Indices (Andreas Grimminger); Corporate Governance: Some Country Experiences: The Audit Committee in the EU Emerging Countries (Daniela M Salvioni, Francesca Gennari, Luisa Bosetti and Alex Almici); Great Expectations from Pension Fund Activism: Insight from Poland (Agnieszka Seomka-GoeObiowska); Ownership Structure and Directors' Compensation Disclosure in Malaysia (Elinda Binti Esa and Abdul Rahman Zahari); Corporate Governance, Performance and Liquidity Risk of West African Economic and Monetary Union (WAEMU) Banks (Alassane Ouattara, Luc Paugam and Olivier Ramond); Board Composition and Company Performance: A Study of Sub-Saharan African Countries (Gibson Munisi); Emerging Markets Banks Ownership and Performance: Evidence from China (Xiaoxi Zhang and Kevin Daly); Corporate Governance in Romania: Theories and Practices (Gheorghe N Popescu, Veronica Adriana Popescu and Cristina Raluca Popescu); Corporate Social Responsibility: Corporate Governance and Corporate Social Responsibility in Financial Institutions: Evidence from Islamic Banks (Hisham Farag); Is Corporate Governance Related to Corporate Social Responsibility? The Case of South Africa (Idoya Ferrero-Ferrero, Mar a ungeles Fernindez-Izquierdo, Mar a Jess Muoz-Torres, Juana Mar a Rivera-Lirio, Ral Len-Soriano and Elena Escrig-Olmedo); Achieving Corporate Governance and Corporate Social Responsibility in an Emerging Market through Gender Diversity on Boards in India (Sharon Ayson); Executive Compensation in Emerging Markets: Theoretical Developments and Empirical Evidence (Yongli Luo); Placing Stakeholder Theory within the Debate on Corporate Social Responsibility (Tarek Miloud); Corporate Governance and Corporate Social Responsibility Reporting: Empirical Evidence from Bangladesh (Pallab Kumar Biswas). Readership: Policymakers, professionals, academics, and graduate students in law, economics, management and finance, organizations promoting best governance practices in emerging countries, investors, as well as those interested in corporate governance, corporate finance, and business and management. Key Features: Addresses current issues and cutting-edge trends in corporate governance and corporate social responsibility within economies with emerging markets; Sheds light on how companies adopt and move towards best corporate governance practices, especially in the aftermath of recent crises; Illustrates corporate governance theories with real business cases and assesses the effects of various governance practices on corporate behavior"

Download or read book Internal Corporate Governance Structures and Firm Financial Performance written by Collins Gyakari Ntim and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contains the findings of an examination of the relationship between internal corporate governance structures and the financial performance of South African listed firms. Specifically, using a sample of 100 South African listed firms from 2002 to 2006 (a total of 500 firm-year observations) and corporate governance data collected directly from company annual reports, the thesis seeks to ascertain whether better-governed listed firms tend to be associated with higher financial returns than their poorly-governed counterparts. Unlike prior studies, the internal corporate governance-financial performance nexus is investigated by applying both the compliance-index and equilibrium-variable research methodologies. The results based on the compliance-index model suggest that there is a statistically significant and positive association between the quality of the sampled firms? internal corporate governance structures and their financial performance. This finding is robust whether an accounting (return on assets) or a market (Tobin?s Q) based measure of financial performance is used. Distinct from prior studies, an analysis of the impact of complying with the South African context specific affirmative action and stakeholder corporate governance provisions on the financial performance of South African listed firms is also investigated. The results indicate that compliance with the affirmative action and stakeholder corporate governance provisions impacts positively on the performance of South African listed firms. By contrast, the results based on the equilibrium-variable model are generally mixed. First, regardless of the financial performance measure used, board diversity, the frequency of board meetings, and the establishment of board committees except the presence of a nomination committee seem to have no impact on firm financial performance. Second, board size is statistically significant and positively associated with Tobin?s Q (Q-ratio), but statistically insignificant and negatively related to return on assets (ROA). Third, role or CEO duality is statistically significant and positively related to ROA, but statistically insignificant and negatively associated with the Q-ratio. Director shareownership is statistically insignificant and positively related to ROA, but statistically significant and negatively associated with the Q-ratio. Finally, the findings based on both the director shareownership squared and cubed do not support the statistically significant non-linear director shareownership-financial performance association reported by Morck et al. (1988). The findings from a series of robustness or sensitivity analyses carried out suggest that the empirical results reported are generally robust to potential endogeneity problems.

Download or read book An Overview of Corporate Governance and Accountability in Southern Africa written by and published by . This book was released on 2007 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book ESG and Financial Performance The Effects of Audit Quality and National Culture in the Nigerian and Kenyan Context written by Ursule Yvanna Otek Ntsama and published by GRIN Verlag. This book was released on 2023-03-22 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2022 in the subject Business economics - Business Management, Corporate Governance, grade: 3.9, Dongbei University of Finance and Economics, language: English, abstract: This research is motivated by the need to show whether environmental, social, and governance performance (ESG) is highly linked to the African companies’ performances, and national culture. Besides, this study examines the impacts of audit quality and the national culture on the relationship between financial performance and environmental, social, and governance (ESG) criteria. The introduction of ESG practices has started lately in sub-Saharan African countries, but its implementation has been easier as the African context prones social factors that facilitate its development. Although several studies have explored the nexus between ESG, audit quality and firm financial performance, the outcomes of research on the financial performance-ESG’s relationship are contradicting and further research is needed. These areas include (1) the mediating role of audit quality in the relationship between corporate governance and firm performance; (2) the moderated mediating role of national culture in the relationship between ESG and financial performance through audit quality, (3) the impact of each ESG characteristics such as environment, social, governance scores and audit firm size on firm performance. Thus, the aims of the study are to examine (1) the impact of environment, social, governance criteria on firm financial performance; (2) the relationship environment, social, governance criteria and audit quality; (3) the effect of audit quality on firm financial performance; (4) the mediating role of audit quality in the relationship ESG and firm financial performance; and (5) the ESG performance of companies deviating between firms from different countries, the last key objective is to fill the research gap by examining the moderated mediating role of the four cultural dimensions of Hofstede –power distance, uncertainty avoidance, individualism, and masculinity- on the impact of ESG on firm financial performance through audit quality.

Download or read book The Financial Performance Profitability and Corporate Governance Disclosure in the Annual Reports of Listed Companies of Bangladesh written by Dr. Md. Abdur Rouf and published by . This book was released on 2015 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research aims to test empirically the relationship between the Financial Performances (Profitability) and the level of Corporate Governance Disclosure (CGD) by the listed non-financial companies in Bangladesh. Data are taken from annual reports of the listed companies in the 2007. This paper is based on a sample of 94 listed companies and Used OLS as a method of estimation. The extent of corporate governance disclosure level is measured using 40 items of information and financial performance (profitability) is measured by return on assets (ROA). Using an unweighted approach for measuring corporate governance disclosure, this approach is most appropriate when no importance is given to any specific user-groups. After establishing the disclosure index, a scoring sheet was developed to assess the extent of corporate governance disclosures. The result shows that the Financial Performances (Profitability) and Board Audit Committee are positively correlated with the level of Corporate Governance Disclosure (CGD). Percentage of Equity Owned by the Insiders is negatively associated with the Corporate Governance Disclosure. The study provides empirical evidence to policy makers and regulators in South Asia.

Download or read book The Financial Performance and Corporate Governance Disclosure written by Dr. Md. Abdur Rouf and published by . This book was released on 2015 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research aims to test empirically the relationship between the Financial Performances (Profitability) and the level of Corporate Governance Disclosure (CGD) by the listed non-financial companies in Bangladesh. Data are taken from annual reports of the listed companies in the 2007. This paper is based on a sample of 94 listed companies and Used OLS as a method of estimation. The extent of corporate governance disclosure level is measured using 40 items of information and financial performance (profitability) is measured by return on assets (ROA). Using an unweighted approach for measuring corporate governance disclosure, this approach is most appropriate when no importance is given to any specific user-groups. After establishing the disclosure index, a scoring sheet was developed to assess the extent of corporate governance disclosures. The result shows that the level of Corporate Governance Disclosure (CGD) is positively correlated with the Financial Performances (Profitability). The study provides empirical evidence to policy makers and regulators in South Asia.

Download or read book The Impact of Regulation Reform and Corporate Governance on the Level of Financial Disclosure written by Ali Ahmadi and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is devoted to evaluate the impact of financial safety act n°2005-96 (FSA) and corporate governance on the level of financial disclosure. The empirical study relates to a sample of 20 firms listed on the Tunis Stock Exchange observed over the period (2003-2010). Our results confirm the positive and significant effect of the FSA on the transparency of financial disclosure. This impact seems to appear through the improvement of the disclosure level during the years which follow the adoption of the new regulation. The results of this study also show that firms with a high level of financial disclosure are those which have an independent board of directors, auditor BIG and joint audit.

Download or read book The Effect of Firm s Characteristic and Corporate Governance to Sustainability Report Disclosure written by Lucia Lucia and published by . This book was released on 2018 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study was to analyze the effect of company's characteristic which are profitability (ROA), leverage (DER), liquidity (CR), company size (SIZE), and corporate governance proxied by board of directors and audit committee (KA) to disclosure of sustainability reports (SR). The study had 105 samples of manufacturing companies listed in Indonesia Stock Exchange and 262 manufacturing companies listed on Malaysia Exchange in year 2013-2015. Data analysis using regression logistic method with E-views version 9. Hypothesis testing results show that the partial results of hypothesis testing variable DER, CR, and Directors do not have significant effect on internet financial reporting, but ROA and SIZE have significant influence on sustainability report disclosure (SR) of manufacturing companies listed in IDX and Bursa Malaysia.

Download or read book Research Handbook on Boards of Directors written by Jonas Gabrielsson and published by Edward Elgar Publishing. This book was released on 2019 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Boards of directors are complex systems, and it is imperative to understand what the contextual forces are that shape the direction and make-up of boards. This Research Handbook provides inspiration for researchers and practitioners interested in the manifold dimensions and facets of context surrounding boards of directors.

Download or read book The Relative Value Relevance of Shareholder Versus Stakeholder Corporate Governance Disclosure Policy Reforms in South Africa written by Collins G. Ntim and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Manuscript Type: Empirical.Research Question/Issue: South Africa (SA) has pursued a distinctive corporate governance (CG) disclosure policy reforms in the form of the King Reports, which require firms to comprehensively disclose a set of recommended good CG practices on both shareholders and stakeholders. This paper investigates the effect of the new shareholder and stakeholder CG disclosure rules on firm value, as well as the relative value relevance of comprehensively disclosing good CG practices on shareholders versus stakeholders.Research Findings/Insights: Using a sample of 169 SA listed firms from 2002 to 2007, we find that comprehensive disclosure of good CG practices on both shareholders and stakeholders impact positively on firm value, with the latter evidence providing new explicit support for the resource dependence theory. However, we provide additional new evidence, which suggests that disclosure of shareholder CG practices contributes significantly more to firm value than stakeholder ones. Our results are robust to controlling for different types of endogeneities.Theoretical/Academic Implications: The paper generally contributes to the literature on the association between comprehensive disclosure of CG practices and firm value by specifically modelling the relationship within a unique institutional and CG environment. Specifically, we make two new contributions to the extant literature. First, we show how comprehensive stakeholder CG disclosures impact on firm value. Second, we provide evidence on the relative value relevance of comprehensively disclosing shareholder and stakeholder CG practices.Practical/Policy Implications: Our results have important policy and regulatory implications, especially for authorities in other developing countries facing socio-economic problems that are currently contemplating or pursuing CG disclosure policy reforms. Since our evidence indicates that additional value can be created for firms that provide more transparent information on stakeholder CG practices, it provides authorities in other emerging countries currently planning or pursing CG reforms with a strong motivation to formally extend CG disclosure rules to cover both shareholder and stakeholder provisions.

Download or read book Corporate Governance Disclosure in Nigerian Listed Companies written by Folashade Adefemi and published by . This book was released on 2019 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Disclosure (hereafter CGD) is the extent to which an organization transparently discloses its governance practices and strategies to stakeholders. This paper aims to examine the impact of corporate governance disclosure on firm performance, board composition, and company size. To achieve the research aim, this study used secondary data from companies listed on the Nigerian stock exchange and examined 31 companies across 5 sectors from 2010-2013. This paper adopts theoretical triangulation to provide a wide and deep understanding of the topic with the aim of both contributing to the literature and providing insights on how compliance can influence current governance practice in Nigeria. This study used panel regression techniques and the results indicate that asset turnover, board composition and number of employees are all significantly related to corporate governance disclosure. However, return on assets, return on equity and earnings per share are not significant. Overall, this study found that listed companies compliance with the Securities Exchange Commission (SEC) Disclosure requirements has a positive influence on corporate governance performance for the firms listed in the Nigerian Stock Exchange.

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 Compliance with Disclosure Principles and Financial Performance written by Hiranya Dissanayake and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study attempts to examine the relationship between the quality of a firm's disclosure principles related to corporate governance practices and such firm's financial performance, through the construction of a broad firm-specific Information and Disclosure Index (IDI) for a sample of 130 listed companies in Sri Lanka for the period of 2009 to 2016. The Signalling theory indicates that better disclosure is related to superior performance of firms, and thus has been used as the theoretical basis of this study in addition to the Agency theory. The data required for the study was collected using secondary sources, i.e., using the audited annual report data and articles of associations of respective companies. IDI was constructed using fifteen components to measure the compliance level of disclosures related corporate governance principles as stipulated in the CA Sri Lanka, OECD and UK codes of best practices on corporate governance, which was then used to score each company on a dichotomous scale. Financial Performance was measured by Return on Equity (internal financial performance of a firm) and Tobin's Q (to present the external market performance of a firm). In order to examine the relationship between the disclosures (IDI) and financial performance, both a Pearson's correlation and panel regression analyses (including the Hausman testing) were performed after data screening and cleaning as well as the diagnostics tests. In terms of the main findings, the descriptive analysis indicates that more than 70% (mean) of Sri Lankan firms have complied with disclosure principles of corporate governance practices, and the panel regression analysis indicated that firms with sound corporate governance disclosure (i.e., higher IDI) have significantly superior internal financial performance (measured via ROE). Thus, this study provides empirical support for the Signaling and Agency theoretical perspectives in the context of compliance requirements of disclosure, which leads to higher financial performance. Accordingly, as policy implications, regulators and policymakers need to establish monitoring mechanisms to ensure that firms comply with governance principles via formal institutional changes leading to stricter enforcement.