scholarly journals Corporate governance and remuneration: a bibliometric analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jinnatul Raihan Mumu ◽  
Paolo Saona ◽  
Hasibul Islam Russell ◽  
Md. Abul Kalam Azad
Keyword(s):  
Corporate Governance ◽  
Bibliometric Analysis ◽  
Boards Of Directors ◽  
Gender Diversity ◽  
Research Field ◽  
Future Research ◽  
Top Management ◽  
Outside Directors ◽  
Governance System ◽  
Content Type

PurposeThis study aims to pinpoint gaps in the literature on corporate governance and remuneration by producing a comprehensive bibliometric review for the period 1990–2020.Design/methodology/approachBibliometric analysis is the quantitative study of the bibliographic material in a specific research field. It allows an analyst to classify that material by paper, journal, author, indexation, institution or country, among other possibilities. This study reviews a total of 298 Web of Science–indexed journal articles on corporate governance and top-management remuneration schemes.FindingsThe authors find five distinct research strands: (1) firm performance and remuneration of top management, (2) the remuneration and independence of boards of directors and the efficiency of boards of directors as a governance system, (3) outside-director remuneration and the efficiency of outside directors as a monitoring system, (4) director remuneration and the corporate governance of companies and (5) the role of ownership structure and top managers' compensation schemes as corporate-governance tools. The authors identify gaps in the literature and avenues for future research for each of these strands.Practical implicationsThe authors’ findings have implications for board diversity (e.g. gender diversity), remuneration policy for top-level managers and governance issues (independent directors, separation of ownership with control). This study is the only one to summarize the key topics on which top research has been focused and can be broadly used for corporate governance management perspective.Originality/valueThis paper provides an overview of how the literature on corporate governance and remuneration has developed and a synopsis of the most influential and most productive authors, countries and journal sources. It creates an opportunity for other researchers to focus on this area. This study will also serve as a foundation for future meta-analyses.

Current state of corporate governance: global business and cultural analysis

2016 ◽  
Vol 39 (11) ◽  
pp. 1431-1446 ◽  
Author(s):  
Namporn Thanetsunthorn ◽  
Rattaphon Wuthisatian
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
National Culture ◽  
Future Research ◽  
Governance System ◽  
Cultural Characteristics ◽  
Policy Makers ◽  
Content Type ◽  
Current State ◽  
Corporate Governance System

Purpose The purpose of this study is to explore the current state of corporate governance in various aspects of business settings and to empirically examine the impact of national culture on corporate governance performance, with a view of supporting business corporations in further enhancing the effectiveness of their corporate governance system. Design/methodology/approach A pooled sample of 9,003 companies drawn from 50 countries across ten different regions is collected. A variety of statistical methods, including the paired sample t-test, the ordinary least squares regression and the Pearson product-moment correlation coefficient are implemented to analyze the current state of corporate governance. To empirically investigate the causal relationship between national culture and corporate governance, the multivariate regression analysis is also applied. Findings This study proposes a broad set of the empirical findings regarding the current state of corporate governance. Despite being accepted as a prerequisite building block for sustainable corporate social responsibility (CSR), corporate governance is still receiving far less attention among business corporations. The governance framework is widely adopted by business corporations, yet the intensity of implementing corporate governance is significantly different across regions. The variation of the intensity observed across regions can be explained by the national cultural characteristics that are all likely to impact the degree to which corporations act in corporate governance manners. Corporate governance performance is strongly related to three other aspects of socially responsible corporate performance – community, employee and environment. Research limitations/implications This study provides both the motivation and a starting point for further investigation in the milieu of corporate governance. It would be interesting for future research to further explore the extent to which corporate governance has a positive indirect impact on a firm’s financial performance. There is potential to provide a more comprehensive analysis of the interaction effect of national culture and geographic region on corporate governance performance of the corporations embedded in that region through a statistical interaction method. In addition, it may be interesting to integrate corporate financial performance (CFP) into the analysis to identify a specific type/practice of the corporate governance that could provide the highest return on the investment. Last, another interesting avenue for future research would be to explore the ethical mechanisms that have been institutionalized to promote corporate governance practices. Practical implications The present study is beneficial to both business corporations and policy makers. In essence, the study can potentially draw managers’ attention to applying modified corporate governance strategies according to their national culture. Furthermore, the study can alter business corporations to promote a strong corporate governance regime in chorus to CSR strategies so as to promote CSR development, which ultimately results in higher levels of competitiveness and CFP. In addition, policy makers who are responsible for inward foreign investment can use the findings of this study to evaluate the investors’ potential governance adoption. Originality/value The findings of this study are useful in encouraging the business corporations to further strengthen their corporate governance system. This study helps to fill the theoretical void regarding the cultural impact on corporate governance by exploring a broad set of national cultural characteristics under which good corporate governance is more or less likely to occur.

Women representation on boards: a South African perspective

2016 ◽  
Vol 24 (2) ◽  
pp. 211-225 ◽  
Author(s):  
Gizelle Willows ◽  
Megan van der Linde
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Critical Mass ◽  
Gender Diversity ◽  
Current Status ◽  
Company Performance ◽  
Content Type ◽  
The Board Of Directors

Purpose By looking at both theoretical and empirical findings, this study aims to investigate whether gender diversity results in improved corporate governance and financial performance for companies. Design/methodology/approach An analysis of the board composition of the Johannesburg Securities Exchange Top 40 companies as at 30 June 2013 and a comparison of the financial performance of the company were conducted. Findings Female directors were found to make up, on average, 18.78 per cent of the board of directors, with the majority of these women being in non-executive positions. Women representation appears to influence company performance positively when using accounting-based measures of performance (such as return on assets and return on equity), but negatively when using market-based measures (such as Tobin’s Q). The critical mass concept is also assessed and is found to have a positive effect. Originality/value These findings are of relevance to the boards of directors adhering to corporate governance requirements by challenging the role of women on the board of directors, as well as that of investors and those in practice, to understand the current status of women representation.

scholarly journals JAPANESE CORPORATE GOVERNANCE REFORM : WHAT IS REQUIRED FOR EFFECTIVE FUNCTIONING OF OUTSIDE DIRECTORS ?

2019 ◽  
Vol 8 (1) ◽  
pp. 11
Author(s):  
Masaru Suzuki
Keyword(s):  
Corporate Governance ◽  
Boards Of Directors ◽  
Lessons Learned ◽  
Gradual Change ◽  
Governance Reform ◽  
Outside Directors ◽  
Governance System ◽  
Corporate Scandals ◽  
Management Board ◽  
Corporate Governance Reform

<p>The topic of outside directors’ functions has been attracting significant attention for many years now, especially in the discussions about corporate governance reform in Japan. Over the last two decades, most listed Japanese companies have voluntarily introduced outside directors into their boardrooms, in line with the gradual change in an overall corporate governance system toward a monitoring board model moving away from the more traditional management board model. It appears the recent trend is for companies to add outside directors to their boards of directors to increase corporate values.<strong> </strong>In the midst of transforming the management board model into the monitoring board model, closely reexamining the functions of outside directors is necessary. What can be concluded from the lessons learned from recent corporate scandals and the discussions concerning the functions of outside directors is: (1) outside directors should be truly independent from the company’s management; and (2) outside directors need access to the company’s corporate information in order to prevent corporate scandals and to provide appropriate advice to the company’s management. <strong> </strong>This paper aims at considering how to make outside directors more effective and their roles more substantial, based on the history of corporate governance reform in Japan.</p>

scholarly journals Corporate governance and company performance in Italy: Corporate law and regulation perspective

2019 ◽  
Vol 1 (1) ◽  
pp. 24-35 ◽  
Author(s):  
Carlo Caserio ◽  
Sara Trucco
Keyword(s):  
Corporate Governance ◽  
Gender Diversity ◽  
Future Research ◽  
Company Performance ◽  
Board Governance ◽  
Corporate Board ◽  
Governance System ◽  
Research Areas ◽  
Participation Of Women ◽  
Governance Systems

This paper proposes an extensive analysis of corporate governance and corporate board practices in Italy, under different perspectives. First of all, through a literature review, the research aims to analyze the main effects of laws and regulations on corporate board practices in the Italian setting by taking into account the most important corporate board models in different types of companies. This study also highlights the different functions and responsibilities assigned to the boards, bodies and boards’ members, according to the governance system implemented – classic/traditional, dualistic, monistic. For each of these systems, the main issues are presented and the most important critical points are illustrated. Regarding the functions and the responsibility of the board members, the link between the board governance and company performance is discussed on the basis of the main literature, as well as the laws concerning the participation of women to the boards’ activities. Furthermore, the effects of gender diversity on company performance is analysed taking into account the main studies on this topic. Finally, the paper presents some conclusions and future research areas on the aforementioned topics: it proposes future empirical analysis on the effects that different governance systems, different board compositions and different roles of directors, as required by the law, may have on the performance of listed/unlisted companies and on family/non-family companies.

Social media for entrepreneurship: myth or reality? A structured literature review and a future research agenda

2020 ◽  
Vol 27 (1) ◽  
pp. 149-177
Author(s):  
Giustina Secundo ◽  
Pasquale Del Vecchio ◽  
Gioconda Mele
Keyword(s):  
Social Media ◽  
Literature Review ◽  
Bibliometric Analysis ◽  
Research Agenda ◽  
Research Field ◽  
Future Research ◽  
Content Type ◽  
Future Research Agenda ◽  
Structured Literature Review

PurposeThis paper provides a structured literature review (SLR) about the effects of social media technologies on entrepreneurship activities and processes, to identify relationships, connectivity and interdependencies. The paper offers an outline of the past and the present literature and frames a future research agenda.Design/methodology/approachThe structured literature review has been conducted on 159 journal papers extracted from Scopus, initially submitted to a bibliometric analysis. A final list of 69 papers published in a variety of academic journals specialized in the field of entrepreneurship, information science and business management has been analyzed through a content and bibliometric analysis.FindingsFindings show that literature is really scant, and four research streams have been identified: Social media for entrepreneurial learning and self-employment; social media as tools for entrepreneurial marketing; social media as sources of entrepreneurial opportunities and finally, social media as enablers of networking and entrepreneurial ecosystems.Research limitations/implicationsThe limitations of the study regard the need for more holistic studies, considering both the technological and the social aspects.Practical implicationsThe findings demonstrate the actuality of the research focus and the need of a deep exploration about the role of social media for the different forms of entrepreneurship process. This evidence calls for a holistic and integrated framework.Originality/valueThe originality of the paper resides in a novel SLR with reference to the recent role of social media for entrepreneurship. Despite the increasing literature, the debate in such field is still fragmented and under-researched, offering a promising research field.

Corporate Governance and Top Management Team Demographic: A Longitudinal Analysis of Their Effects on Innovation

1997 ◽  
Vol 01 (02) ◽  
pp. 111-121
Author(s):  
G. Steven McMillan ◽  
Sam Beldona
Keyword(s):  
Corporate Governance ◽  
Educational Level ◽  
Top Management Team ◽  
Management Team ◽  
Future Research ◽  
Pharmaceutical Companies ◽  
Top Management ◽  
Outside Directors ◽  
The Impact ◽  
Innovation Outcomes

This paper examines the impact that the educational level of a company's outside directors and top management team (TMT) has on the firm's commitment to innovation and its innovation outcomes. A 13-year study of 17 pharmaceutical companies was conducted. The results show that TMT demographics are significant predictors of commitment to innovation, while the demographics of outside directors predict outcomes in innovation. The future research opportunities of these findings are discussed.

scholarly journals Board of Director Diversity and Corporate Performance: The Case of South Korea

2017 ◽  
Vol 18 (2) ◽  
pp. 39-58
Author(s):  
Hannah Jun ◽  
Hyojin Kim
Keyword(s):  
Corporate Governance ◽  
Boards Of Directors ◽  
Corporate Performance ◽  
Gender Diversity ◽  
Future Research ◽  
Local Market ◽  
Corporate Boards ◽  
Board Diversity ◽  
Board Of Director ◽  
Area Of Concern

Recent corporate governance scandals (such as those at Uber) have reemphasized the importance of proper oversight and monitoring to ensure sustainable corporate performance. While the issue of how to improve corporate governance is not a new one, we have seen a resurgence of interest in whether diversity – particularly at the board of director level – improves this oversight function and, ultimately, corporate performance. This paper contributes to the academic discussion on board of director diversity with a focus on gender diversity and introduces Korea as a subject of analysis given that corporate governance remains a key area of concern for the local market and that, despite having had a female president in its relatively short democratic history and launching the WomenCorporateDirectors Korea branch in 2016, it ranks last among OECD (Organisation for Economic Co-operation and Development) member states in terms of female representation on corporate boards. We contribute to the academic debate on the relationship between gender diversity on corporate boards and corporate performance by undertaking a comprehensive literature review on board diversity and corporate performance, introducing data on Korean boards of directors and generating testable hypotheses for future research.

CEO reputation and top management team compensation

2014 ◽  
Vol 52 (3) ◽  
pp. 540-558 ◽  
Author(s):  
Gregorio Sanchez-Marin ◽  
J. Samuel Baixauli-Soler
Keyword(s):  
Corporate Governance ◽  
Top Management Team ◽  
Listed Companies ◽  
Management Team ◽  
National Commission ◽  
Top Management ◽  
Governance Mechanisms ◽  
Governance System ◽  
Content Type ◽  
Top Managers

Purpose – The purpose of this paper is to clarify the influence of chief executive officer (CEO) reputation on top management team (TMT) compensation, proposing corporate governance characteristics as a moderator of the relationships between the power of top managers to extract rents and the importance of external signals. The study aims to expand the domain of executive compensation literature by including the role of CEO reputation in the context of non-Anglo-Saxon corporate governance systems. Design/methodology/approach – The paper opted for a panel methodology for the period 2004-2009, including 534 observations from Spanish listed companies. Data were obtained from several sources. Compensation and governance information was obtained from the Spanish Stock Exchange National Commission; data regarding CEO reputation were obtained from Spanish Corporate Reputation Monitor, and, finally, financial statement was obtained from the OSIRIS database. Findings – The paper provides empirical insights on the CEO reputation diffusion on TMT compensation, showing different scenarios depending on effectiveness of corporate governance. CEO reputation diffusion on TMT pay is strengthened or weakened by the organizational governance effectiveness. General evidence supports the notion that in countries characterized by an incomplete corporate governance system, boards – and also indirectly the structure of ownership – act as a catalyst for external signs of legitimacy, rather than for the organization's and stakeholders’ interests. Research limitations/implications – Because of the difficulty in pooling information for a long period from three different sources of data, the number of observations is not very large. Therefore, researchers are encouraged to test the proposed propositions further using other context of corporate governance. Practical implications – The paper includes implications for the development of effective governance mechanisms which promote an adequate link between the CEO reputation and the TMT compensation, avoiding rent extractions. Originality/value – The paper contributes to new international evidences regarding relations between top managers’ reputations and compensation. Specifically, it allows reinforcement of the importance of institutional arguments in the understanding of the effectiveness of governance mechanisms in large listed companies.

Trends and changes in the International Journal of Entrepreneurial Behaviour & Research

2019 ◽  
Vol 25 (7) ◽  
pp. 1494-1514 ◽  
Author(s):  
Amador Duran-Sanchez ◽  
José Alvarez García ◽  
María de la Cruz Del Río-Rama ◽  
Vanessa Ratten
Keyword(s):  
Bibliometric Analysis ◽  
Social Science Citation Index ◽  
Research Field ◽  
Future Research ◽  
Content Type ◽  
Entrepreneurship Research ◽  
Entrepreneurial Behaviour ◽  
Current Trends ◽  
The Social ◽  
Future Potential

Purpose The International Journal of Entrepreneurial Behaviour & Research is amongst the most prestigious entrepreneurship journals and rapidly gaining ascendancy as a premier journal. It is a relatively young journal being 24 years old and in 2018 achieved inclusion on the Social Science Citation Index. The purpose of this paper is to analyse the development of the journal from birth to its current trends in order to project future potential research trends. This will enable an understanding of potential future research topics that will be influential in the entrepreneurship research field. Design/methodology/approach A bibliometric analysis is conducted using the Scopus database to analyse the most cited articles, authors, institutions, country of origin and topic of article. This analysis is done with the view to analysing the changes that have occurred and the topics that are emerging in the journal. Findings Whilst initially a journal focussed more on European entrepreneurship research, there has been an increased internationalisation of the topics and countries represented in the journal. In addition, initially the focus was more on small business but this has widened to include more diverse topics related to entrepreneurship such as learning. Originality/value As evident in the bibliometric analysis and growth of citations, this journal has published innovative and path breaking studies that impact other journals. Thus, it is important to analyse how the journal has grown and what the future holds.

Corporate governance in family businesses from Latin America, Spain and Portugal

2016 ◽  
Vol 29 (3) ◽  
pp. 231-254 ◽  
Author(s):  
Diógenes Lagos Cortés ◽  
Isabel C. Botero
Keyword(s):  
Corporate Governance ◽  
Latin America ◽  
Family Firms ◽  
Systematic Approach ◽  
Small Sample ◽  
Future Research ◽  
American Family ◽  
Governance System ◽  
Content Type ◽  
Governance Choices

Purpose The purpose of this paper is to summarize what is known about corporate governance in family firms from Ibero-American countries based on published research. Methodology The authors conducted a literature search to identify the articles that have been published about the corporate governance of family firms in Latin America, Spain, and Portugal between 1980 and 2014. The authors found 38 articles that provide the sample for this review. Findings The results indicate that research on governance in Ibero-American family firms has focussed on understanding structures and processes related to the business and ownership systems. However, generalization of results across the region is difficult because of the lack of systematic approach of studies and the focus on a small number of countries. Research limitations/implications There are at least two limitations of this work: the small sample of projects identified for the review and the lack of systematic approach to research. Both of these may be due to the importance given to publishing the university context in this part of the world. As the culture of knowledge changes, the authors expect that research in this area will grow. Originality/value Although previous research indicates that cultural characteristics affect governance system choices and understanding of family firms, not many studies explore the importance of culture in governance choices of family firms. This paper provides a baseline of the understanding of governance in Ibero-American family firms, and identifies important area for future research.

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