Risk Management, Corporate Governance and the Public Corporation

2005 ◽  
pp. 423-436 ◽  
Author(s):  
Fred R. Kaen
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
The Public ◽  
Public Corporation

“Monitoring” Corporate Corruption: DOJ's Use of Deferred Prosecution Agreements in Health Care

2009 ◽  
Vol 35 (1) ◽  
pp. 89-124 ◽  
Author(s):  
Kathleen M. Boozang ◽  
Simone Handler-Hutchinson
Keyword(s):  
Health Care ◽  
Corporate Governance ◽  
Executive Leadership ◽  
Public Accounting ◽  
The Public ◽  
Public Corporation ◽  
Arthur Andersen ◽  
The Doors

It has become a truism to cite Enron as the new millennium’s watershed impetus for government assertion of power to improve corporate governance. While indictment of corrupt corporations and their executive leadership seems an obvious corrective to corporate norms that have gone astray, the unsuccessful prosecution and demise of Arthur Andersen proved a stunning backfire of such a blunt weapon. The public accounting industry shrunk even further, to the detriment of clients, and thousands lost their jobs. Arthur Andersen taught that an indictment itself may be sufficiently damaging to close the doors of a public corporation.

SCG and Corporate Law Theory

2019 ◽  
pp. 13-34
Author(s):  
Anita Indira Anand
Keyword(s):  
Corporate Governance ◽  
Agency Theory ◽  
Agency Costs ◽  
Conflicts Of Interest ◽  
Active Role ◽  
Corporate Law ◽  
Agency Relationship ◽  
The Public ◽  
Public Corporation ◽  
And Control

This chapter discusses the existing conception of the public corporation and questions whether any of these ideas appropriately account for the rise of shareholder-driven corporate governance (SCG). In particular, it considers the contractarian model of the corporation as well as the agency theory, which explains the division of ownership and control as an agency relationship that necessarily produces agency costs. The chapter also addresses a newer and contrasting idea called principal cost theory, which argues that principal (or shareholder) control also comes at a cost, resulting from shareholders’ lack of expertise and the potential for conflicts of interest among them. This theory offers an important counterpoint to the normative arguments for SCG because it emphasizes the potential failings of shareholders and challenges the supposition that they are necessarily well positioned to play an active role in governance.

scholarly journals O contrato de seguro de responsabilidade civil para diretores e gestores na administração pública direta no Brasil

2019 ◽  
Vol 278 (3) ◽  
pp. 87
Author(s):  
Alexandre Marques da Silva Martins ◽  
Osiris Vargas Pellanda
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Corporate Governance ◽  
Economic Analysis ◽  
Public Administration ◽  
Civil Liability ◽  
Liability Insurance ◽  
Management Tool ◽  
The Public ◽  
Directors And Officers

<p>Directors and Officers Liability Insurance (D&amp;O) contracted by the direct public administration in Brazil</p><p> </p><p>O presente artigo pretende oferecer uma análise sobre os aspectos relacionados com a contratação de seguros de responsabilidade civil para diretores e gestores públicos (D&amp;O) pela administração pública direta no Brasil. Neste contexto, proceder-se-á a uma investigação dos fundamentos do seguro de responsabilidade civil que, por conseguinte, permitirá esclarecer as nuances do D&amp;O cujos beneficiários são diretores e agentes públicos que gozam de alta discricionariedade em processos decisórios. Assim, será demonstrado que, se um governo deseja utilizar de maneira eficiente o D&amp;O, que é uma ferramenta de gerenciamento de risco, é necessária não só a aplicação da análise econômica do direito e de princípios de governança corporativa, mas também de princípios que regem a administração pública em seus negócios jurídicos.</p><p> </p><p>This article aims to analyze the Directors and Officers Liability Insurance (D&amp;O) contracted by the direct public administration in Brazil. In this context, an understanding of the underpinnings of civil liability insurance sheds light on the nuances of the D&amp;O, whose beneficiaries are usually managers and public agents enjoying high-discretion decision-making power. Hence, this study will demonstrate that if a government wishes to make efficient use of D&amp;O, a risk management tool, it is necessary to apply not only the Economic Analysis of the Law and principles of corporate governance but also general principles governing the public administration in its transactions.</p>

scholarly journals GOOD CORPORATE GOVERNANCE DAN MANAJEMEN RESIKO DI BANK SYARIAH

2019 ◽  
Vol 3 (2) ◽  
pp. 57-79
Author(s):  
Rita Mulyani
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Active Role ◽  
Interest Rate Risk ◽  
Economic Conditions ◽  
Islamic Banks ◽  
The Public ◽  
Management Culture ◽  
Good Corporate Governance ◽  
Financing Risk

By applying the principles of good corporate governance and risk management, Islamic banks have won the trust of the public by significantly increasing the number of Islamic bank customers, although not as much as conventional bank customers. To build public trust in Islamic banks, in addition to GCG, there is also a need for good management and risk management of Islamic banks. It is hoped that Islamic banks will be able to play an active role in banking activities in Indonesia as an indicator of whether or not the economic conditions in Indonesia. The role of corporate governance has been far applied in the teachings of Islam. The principles of Good Corporate Governance which consist of transparency, accountability, responsibility, professional and fairness are contained in sharia values ​​which intensely consist of: (1) shiddiq (honesty), (2) trust (fulfillment of trust), (3) fathanah (intelligence), (4) tabligh (transparency, openness). The important thing that needs to be done by Islamic banks is to build an effective risk management culture, so that banks have competitiveness and survive in economic conditions that are full of uncertainty or even crisis. The types of risks faced by Islamic banks include the following: 1) Financing Risk, 2) Liquidity Risk, 3) Interest Rate Risk, and 4) Operational Risk.

The Impact of Shariah Governance and Corporate Governance on the Risk Management Practices: Evidence from Local and Foreign Islamic Banks in Malaysia

2018 ◽  
Vol 15 (2) ◽  
pp. 1-20
Author(s):  
Sabri Embi ◽  
Zurina Shafii
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Management Practices ◽  
Principal Component ◽  
T Test ◽  
The Body ◽  
Primary Data ◽  
Islamic Banks ◽  
Shariah Governance ◽  
The Impact

The purpose of this study is to examine the impact of Shariah governance and corporate governance (CG) on the risk management practices (RMPs) of local Islamic banks and foreign Islamic banks operating in Malaysia. The Shariah governance comprises the Shariah review (SR) and Shariah audit (SA) variables. The study also evaluates the level of RMPs, CG, SR, and SA between these two type of banks. With the aid of SPSS version 20, the items for RMPs, CG, SR, and SA were subjected to principal component analysis (PCA). From the PCA, one component or factor was extracted each for the CG, SR, and RMPs while another two factors were extracted for the SA. Primary data was collected using a self-administered survey questionnaire. The questionnaire covers four aspects ; CG, SR, SA, and RMPs. The data received from the 300 usable questionnaires were subjected to correlation and regression analyses as well as an independent t-test. The result of correlation analysis shows that all the four variables have large positive correlations with each other indicating a strong and significant relationship between them. From the regression analysis undertaken, CG, SR, and SA together explained 52.3 percent of the RMPs and CG emerged as the most influential variable that impacts the RMPs. The independent t-test carried out shows that there were significant differences in the CG and SA between the local and foreign Islamic banks. However, there were no significant differences between the two types of the bank in relation to SR and RMPs. The study has contributed to the body of knowledge and is beneficial to academicians, industry players, regulators, and other stakeholders.

FEATURES OF RISK MANAGEMENT AFTER REALIZING PPP PROJECTS

2018 ◽  
Vol 1 (12) ◽  
pp. 179-190
Author(s):  
Mariya Zinovievivna Masik
Keyword(s):  
Risk Management ◽  
The State ◽  
Financial Risks ◽  
Contract Negotiations ◽  
The Public ◽  
Political Risks ◽  
Force Majeure ◽  
Investment Agreement ◽  
The Law ◽  
Partnership Agreement

The article is devoted to the clarification of the peculiarities of risk management during the implementation of PPP projects. The author identifies a set of risks for a private partner, business risks of PPP projects and the main risks associated with the protests of the public, as well as public and international organizations. The typical risks of PPP projects are presented, including force majeure, political risks, profitability risks, operational, construction, financial risks, and the risk of default. The world experience of sharing risks between the partners is presented. Also named are the main methods for assessing the risks of PPP projects. It has been determined that the conditions on which the parties should reach agreement in order for the contract to be concluded are essential. Risk management can be implemented within the framework of the essential conditions for the allocation of risks. However, the provisions of the law provide for the allocation of only those risks identified by the results of an analysis of the effectiveness of the PPP project. Legislation does not directly determine how risks can be allocated to the risks identified during the pre-contract negotiations (or even at a later stage), but not taken into account in the analysis of efficiency. For example, suggestions on the terms of the partnership agreement as part of the bidding proposal may include suggestions on risk management mechanisms. There are no definite and can not be fully defined possible ways of managing risks in view of their specificity for a particular project. For this purpose, it is advisable to provide for a period of familiarization with the draft tender documentation and the possibility of making changes to it based on the findings received from potential contestants. It is also advisable to foresee cases in which it is possible to review certain terms of the contract without a competition. It is substantiated that the law does not restrict the possibility of foreseeing specific terms of an agreement on the implementation of the PPP project or to conclude additional (auxiliary) contractual instruments (for example, an investment agreement). At the same time, when laying down conditions not provided for by law, it is necessary to take into account the scope of competence of the state partner. Also, in order to ensure the principle of equality of conditions, the state partner should provide such additional conditions in the tender documentation.

Sign in / Sign up

Export Citation Format

Share Document