Factors affecting corporate environmental disclosure in emerging markets: The role of corporate governance structures

2020 ◽  
Author(s):  
Ali Meftah Gerged
Keyword(s):  
Corporate Governance ◽  
Emerging Markets ◽  
Governance Structures ◽  
Environmental Disclosure ◽  
Factors Affecting

scholarly journals Voting dissent and corporate governance structures: The role of say on pay in a comparative analysis

2016 ◽  
Vol 13 (4) ◽  
pp. 188-197 ◽  
Author(s):  
Salvatore Esposito De Falco ◽  
Nicola Cucari ◽  
Emanuele Sorrentino
Keyword(s):  
Corporate Governance ◽  
Comparative Analysis ◽  
Executive Compensation ◽  
Shareholder Activism ◽  
Governance Structures ◽  
Factors Affecting ◽  
Say On Pay ◽  
Australian Context ◽  
System Context

Shareholder activism is a vibrant field. This paper explores which variables can influence the direction of the vote and if they change depending on country, rather than considering the say on pay activism as an instrumental term in which its effectiveness depends on the ability to change the executive compensation. We focus on a sample of 120 firms in three different contexts (Italy, Australia and USA) observed in a period of three years, between 2012 and 2014. We find that factors affecting dissent depend on the context of analysis. In the insider system context dissent is positively correlated to the concentration of ownership, and in an outsider system context, like the American one, the variable of remuneration is positively correlated to the dissent. Instead, we find that in the Australian context, any variable is significant: this singular result could depend on the presence of “two strikes rule” that inhibits the role of other variables.

scholarly journals Impact of governance structures on environmental disclosures in the Middle East and Africa

2020 ◽  
Vol 20 (4) ◽  
pp. 739-763 ◽  
Author(s):  
Erhan Kilincarslan ◽  
Mohamed H. Elmagrhi ◽  
Zezeng Li
Keyword(s):  
Corporate Governance ◽  
Middle East ◽  
Gender Diversity ◽  
Governance Structures ◽  
Environmental Disclosure ◽  
Content Type ◽  
Environmental Disclosures ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Purpose This study aims to investigate the impact of corporate governance structures on environmental disclosure practices in the Middle East and Africa (MEA). Design/methodology/approach The research model uses a panel data set of 121 publicly listed (non-financial and non-utility) firms from 11 MEA countries over the period 2010-2017, uses alternative dependent variables and regression techniques and is applied to various sub-groups to improve robustness. Findings The empirical results strongly indicate that MEA firms with high governance disclosures tend to have better environmental disclosure practices. The board characteristics of gender diversity, size, CEO/chairperson duality and audit committee size impact positively on MEA firms’ voluntary environmental disclosures, whereas board independence has a negative influence. Research limitations/implications This study advances research on the relationship between corporate governance structures and environmental disclosure practices in MEA countries, but is limited to firms for which data are available from Bloomberg. Practical implications The results have important practical implications for MEA policymakers and regulators. The positive impact of board gender diversity on firms’ environmental disclosures, policy reforms should aim to increase female directors. MEA corporations aiming to be more environmentally friendly should recruit women to top managerial positions. Originality/value This is thought to be the first study to provide insights from the efficiency and legitimation perspectives of neo-institutional theory to explain the relationship between MEA firms’ internal governance structures and environmental disclosures.

scholarly journals Corporate Governance, Profitability, Media Exposure, and Firm Value: the Mediation Role of Environmental Disclosure

2021 ◽  
Vol 8 (1) ◽  
pp. 69
Author(s):  
Firdaus Kurniansyah ◽  
Erwin Saraswati ◽  
Aulia Fuad Rahman
Keyword(s):  
Corporate Governance ◽  
Linear Regression ◽  
Multiple Linear Regression ◽  
Firm Value ◽  
Media Exposure ◽  
Environmental Disclosure ◽  
The Relationship

This study aims to examine and analyze environmental disclosure's effect in mediating the relationship between corporate governance, profitability, and media exposure towards firm value. Total 135 samples of companies that have been listed on IDX in 2015 - 2019 were obtained and analyzed using multiple linear regression. This study showed that corporate governance and profitability increase firm value as investors tend to see corporate governance and profitability as a signal in determining investing decisions. Meanwhile, media exposure and environmental disclosure cannot increase firm value. This study also finds that corporate governance decreases ecological disclosure. Meanwhile, profitability and media exposure cannot increase firm value. Thus, this study also proves that corporate governance, profitability, and media exposure cannot increase firm value through environmental disclosure.

scholarly journals Corporate governance challenges: In the context of MENA countries

2019 ◽  
Vol 8 (4) ◽  
pp. 35-45
Author(s):  
Khaled Otman
Keyword(s):  
Corporate Governance ◽  
Emerging Markets ◽  
Development Economic ◽  
Future Research ◽  
Mena Region ◽  
Mena Countries ◽  
Governance Model ◽  
Governance Challenges ◽  
Corporate Governance Model

Strong corporate governance is vital for countries in the Middle East and North Africa (MENA) as they strive to increase economic growth and reinforce competitiveness and create prosperous societies. This paper evaluates the corporate governance landscape by identifying Development Economic and policy challenges in the MENA countries. In addition, it discovers the role of MENA markets and OECD in improving corporate governance. The current study found that corporate governance is still in the early stages in MENA region and it recommends that there is a need for future research to develop corporate governance model in the unique economic and social environment in the MENA countries. The contribution of this research is significant, not only for the MENA region, but also for application to other emerging markets. In this study, clear insights are provided for policymakers, regulators, managers, investors and researchers involved in emerging markets.

scholarly journals Factors Affecting Investment Decision Making: Moderating Role of Investors Characteristics

2019 ◽  
pp. 1311-1320
Author(s):  
Salam A. Alshamy
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Investment Decision ◽  
Financial Education ◽  
Financial Information ◽  
Factors Affecting ◽  
Investment Decision Making ◽  
Relationship Of ◽  
The Relationship

The current study aimed to investigate the factors affecting investment decision making. Moreover, the moderating effects of age, gender, and financial information were also tested. The study utilized a quantitative research design for that the data was collected using a structured questionnaire. The questionnaire was sent to 570 individuals out of that 374 questionnaires were returned however 372 of the questionnaires were found to be useable. The study framework had 6 constructs namely heuristics, financial information, corporate governance, risk aversion, and experience were independent variables while investment decision making was dependent variable while age, gender and financial education were moderating variables. All the latent construct were measured using multi items based on 5 point Likert scales from 1 strongly disagree to 5 strongly disagree. The results found the Heuristics, Risk Aversion, Financial Information, Corporate Governance and Experience to be significant factors affecting the investment decision making. Moreover, the moderating effect of gender was found to be significant in the relationship of (financial information, corporate governance, and experience) and investment decision making. The moderating effect of age was found to be significant in the relationship of (Heuristics, Corporate Governance, and Experience) and investment decision making while the moderating role of financial education was found to be significant in the relationship of (financial information, corporte governance and experience) and investment decision making.

Impact of corporate governance, financial and regulatory factors on firms’ acquisition ability

2020 ◽  
Vol 20 (3) ◽  
pp. 461-484
Author(s):  
Tahira Awan ◽  
Syed Zulfiqar Ali Shah ◽  
Muhammad Yar Khan ◽  
Anam Javeed
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Corporate Control ◽  
Chief Executive ◽  
Cross Sectional ◽  
Content Type ◽  
Factors Affecting ◽  
Regulatory Influence ◽  
Financial Strength

Purpose The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of acquisitions. The previous studies shed light on the motives behind acquisition and impact of acquisition on both bidding and target firms. The purpose of this study is to bridge a gap in literature by exploring the factors affecting the acquisition ability (AA) of the firms. The study has analyzed the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm. Design/methodology/approach Cross-sectional data has been analyzed with respect to Pakistan stock exchange for a period of 2004-2017 by using logit regression. Findings Analysis indicates that firm-specific variables are important determinants in firm’s decision to acquire. Chief Executive Officer duality and presence of institutional shareholders on the board contribute to this important phenomenon in the life of the acquiring firms. Bidding firm’s financial strength is also another important consideration while going for corporate control transfer transactions. The empirical results indicate the better AA for firms characterized by minimum capacity usage, lower level of intangible assets, lower debt levels and lower advertising expenses. However, the regulatory factor has no significant role in firms’ AA. The findings of the study are helpful for managers, regulators and policymakers. Originality/value Analyzing the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm is a rare study, especially in an emerging country such as Pakistan.

To the Question of Corporate Governance Institutional Environment in Developing and Emerging Markets

2020 ◽  
Vol 3 (57) ◽  
Author(s):  
Zhanat Zhussupova ◽  
Mohamed El-Hodiri
Keyword(s):  
Corporate Governance ◽  
Emerging Markets ◽  
Critical Reflection ◽  
Institutional Environment ◽  
Institutional Framework ◽  
Factors Affecting ◽  
Developing Markets ◽  
Governance Models ◽  
Main Factors ◽  
Institutional Features

This work is an attempt to contribute to thinking about the institutional framework of corporate governance in the context of its evolution in the developing and emerging markets (DEM). We raise the question whether the DEM countries adapt the mechanisms and practices of the corporate governance models of leading economies. We first introduce the concept and genealogy of the new institutional economy. Then we trace the specifics of the modern models of corporate governance and the main factors affecting these models. We finally engage in critical reflection on the problems in corporate governance in both developed and developing markets through the prism of the fundamental, institutional features of each country.

scholarly journals Corporate governance, ownership, company structure and environmental disclosure: Evidence from Saudi Arabia

2015 ◽  
Vol 4 (4) ◽  
pp. 460-470 ◽  
Author(s):  
Murya Habbash
Keyword(s):  
Corporate Governance ◽  
Saudi Arabia ◽  
Audit Committee ◽  
Audit Committees ◽  
Annual Reports ◽  
Environmental Disclosure ◽  
Iso 26000 ◽  
Main Determinants ◽  
One Year

This study examines the Environmental Disclosure (ED) practices in Saudi Arabia and the potential relationship with Corporate Governance (CG) , ownership and company structure, following the application of the Saudi 2006 CG code in 2007. The study deepens the understanding of ED and its main determinants in one of the largest economies in the Middle East. A self-constructed ED checklist, based on ISO 26000, is used. We employ regression and content analyses to examine a sample of 267 annual reports covering the period 2007-2011. The analysis finds that the average ED has improved following the application of the Saudi 2006 CG code to 30%, more than double the 14.61% found by Al-Janadi et al. (2013) during 2006-2007. The analysis also finds that audit committee effectiveness, role duality, state and institutional ownerships, firm profitability, and industry sensitivity positively affect ED. However, board independence, family ownership, and firm size are found not to be significant determinants, while a negative significant correlation was found with firm leverage. The results imply that CG regulators and stakeholders should acknowledge the importance of active audit committees comprising relevant experts and independent directors, in addition to the role of state and institutional ownership in enhancing ED. The study covers a five-year period, contrary to the majority of ED studies which focus on only one year. The study helps to fill the gap in ED literature in developing countries. Finally, the study provides a recent evaluation for the Saudi CG code recently applied in 2007.

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