Achieving gender balance in the boardroom: is it time for legislative action in the UK?

Legal Studies ◽  
2010 ◽  
Vol 30 (4) ◽  
pp. 533-557 ◽  
Author(s):  
Charlotte Villiers
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
The Netherlands ◽  
Gender Quotas ◽  
Public Companies ◽  
Legislative Action ◽  
Gender Balance ◽  
The Uk

In the UK and across the globe, women struggle to get a place on the boards of large public companies and still take home less pay than their male counterparts. At a time of financial crisis and corporate governance failures, this lack of equality is considered especially problematic because the talents of half the workforce are not being utilised fully. This paper explores the possibility of introducing legislative gender quotas for company boardrooms in the UK. Such laws have been passed in Norway and Spain with dramatic results. Other countries, such as France and the Netherlands, look set to follow the examples of Norway and Spain. Has that time arrived in the UK?

scholarly journals The relationship between earnings quality, control mechanisms of corporate governance, and future stock price returns. The case of the Netherlands

2013 ◽  
Vol 10 (4) ◽  
pp. 379-389
Author(s):  
Elisabetta Basilico ◽  
Hugh Grove
Keyword(s):  
Corporate Governance ◽  
The Netherlands ◽  
Stock Price ◽  
Earnings Quality ◽  
Audit Committees ◽  
Control Mechanisms ◽  
Public Companies ◽  
Corporate Governance Mechanisms ◽  
New Research ◽  
The Relationship

This article extends prior research on the relation between earnings quality (assessed by accruals) and future stock price returns and adds new research on the relationships between direct and indirect corporate governance mechanisms of control with accruals and future stock price returns. We study public companies of the Netherlands and find the presence of mispricing associated with very high and very low accruals. We also find evidence that direct corporate governance control mechanisms, such as the existence of separate, independent, and skilled audit committees, are related to higher earnings quality and higher future stock price returns.

15. Directors

2021 ◽  
pp. 406-453
Author(s):  
Derek French
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Court Cases ◽  
Public Companies ◽  
Legal Principles ◽  
Corporate Governance Code ◽  
The Board Of Directors ◽  
The Uk ◽  
The Relationship

This chapter explores the role of directors in corporate governance. Rules on appointment and removal of a company’s directors are considered, followed by public disclosure of the names of directors and their work as a board, their remuneration and their powers of management. The chapter also considers the legal categorisation of directors, whether as fiduciaries, agents or trustees; the relationship between directors and shareholders of public companies; transparency; and general legal principles regarding the board of directors. Relevant legislation such as the Companies Act 2006 and the UK Corporate Governance Code, as well as particularly significant court cases, are mentioned.

The Icesave Dispute in the Aftermath of the Icelandic Financial Crisis: Revisiting the Principles of State Liability, Prohibition of State Aid and Non-discrimination in European Law

2011 ◽  
Vol 2 (3) ◽  
pp. 356-372 ◽  
Author(s):  
Maria Elvira Méndez-Pinedo
Keyword(s):  
Financial Crisis ◽  
The Netherlands ◽  
State Aid ◽  
European Law ◽  
Cross Border ◽  
Border Dispute ◽  
State Liability ◽  
The Uk ◽  
Bank Collapse ◽  
The Eu

This study focuses on the Icesave dispute and Icesave agreements between Iceland, the UK and The Netherlands in the light of European law (EU and EEA law) and explores two main issues: 1) the State liability for breaches of EU/EEA law on the basis of Directive 94/19/EC following a systemic bank collapse in Iceland; and 2) the principle of non-discriminatory interplay between the nationalisation of Icelandic banks (State aid) and the payment of the minimum guarantee of €20.887 to depositors of Icesave accounts in the branches of Landsbanki in the UK and The Netherlands. This dispute was handled through diplomatic negotiations. The author is highly critical of the methodology followed. This cross-border dispute brought to light new complex problems in a grey area of European law which should have been brought before the highest European courts. Icesave also seems to have turned Icelanders against the process of European integration and the EU.

scholarly journals Governing Banks: A British Perspective

2011 ◽  
Author(s):  
Andy Milllneux
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Risk Control ◽  
Control Mechanisms ◽  
Governance Systems ◽  
Conceptual Paper ◽  
British Perspective ◽  
The Global Financial Crisis ◽  
The Uk

This conceptual paper considers the corporate governance of shareholder owned deposit taking banks in light of the Global Financial Crisis (GFC). Deposit taking banks present a special corporate governance problem because depositors (and taxpayers) are stakeholders. The GFC revealed significant weaknesses in the regulation and corporate governance of banks. The UK government commissioned the Walker Review of the corporate governance of UK banks in February 2009. Its recommendations are discussed in the context of the wider governance (including regulation) of banks. Regulation and corporate governance systems should focus on the establishment of effective internal risk control mechanisms and the good management of banks.  

15. Directors

2017 ◽  
Author(s):  
Derek French
Keyword(s):  
Corporate Governance ◽  
Executive Directors ◽  
Public Companies ◽  
Legal Principles ◽  
Corporate Governance Code ◽  
The Board Of Directors ◽  
The Uk ◽  
The Relationship ◽  
A Company

This chapter explores the role of directors in corporate governance, beginning with a discussion of the principles of corporate governance as set out in the UK Corporate Governance Code. Rules on appointment and removal of a company’s directors are considered next, followed by public disclosure of the names of directors and their work as a board, their remuneration and their powers of management. The chapter also considers the legal categorisation of directors, whether as fiduciaries, agents or trustees; the distinction between executive directors and non-executive directors; the relationship between directors and shareholders of public companies; the issue of the separation of ownership and the control of a company; transparency; and general legal principles regarding the board of directors. Relevant legislation such as the Companies Act 2006 and the UK Corporate Governance Code, as well as particularly significant court cases, are mentioned.

scholarly journals Credit Unions and Co-operative Banks across the World

2017 ◽  
Author(s):  
Silvio Goglio ◽  
Panu Kalmi
Keyword(s):  
Corporate Governance ◽  
The Netherlands ◽  
Financial Crises ◽  
Credit Unions ◽  
First Century ◽  
Historical Evolution ◽  
The Us ◽  
The World ◽  
The Uk ◽  
Regulatory Challenges

The national cases of co-operative banking will be considered by pattern: credit unions (as in the UK and the US), decentralized networks (as in Germany, Italy, and Austria), and centralized networks (as in France, the Netherlands, and Finland). The analysis will consider the historical evolution that has characterized the different patterns with regard to national peculiarities (social and economic). We also discuss performance measurement in financial co-operatives and how the recent economic and financial crises have impacted their success vis-à-vis shareholder banks. We also consider corporate governance and regulatory challenges facing financial co-operatives. The present process of hybridization in the sector will also be taken into consideration as well as relaunched co-operatives in the twenty-first century.

scholarly journals Audit committees in listed companies: an international comparison of composition and meetings

2008 ◽  
Vol 5 (3) ◽  
pp. 75-85
Author(s):  
Esmée Van Gansbeke ◽  
Patricia Everaert ◽  
Gerrit Sarens ◽  
Ignace De Beelde
Keyword(s):  
Corporate Governance ◽  
The Netherlands ◽  
Audit Committee ◽  
Listed Companies ◽  
Audit Committees ◽  
Annual Reports ◽  
Internal Auditor ◽  
Corporate Governance Codes ◽  
The Usa ◽  
The Uk

This paper compares the number of audit committee (AC) members, meeting frequency and the presence of internal auditors at AC meetings of listed companies according to their country of domicile. We consider the USA, the UK, the Netherlands, France and Belgium. Hypotheses are developed based on differences in corporate governance codes. Data are gathered from annual reports of 100 listed companies in these countries. Our results indicate fewer AC members in the Netherlands, and a higher frequency of AC meetings in the UK and Belgium, countries where corporate governance codes do not proscribe a minimum number of meetings. The presence of an internal auditor at AC meetings was, on average, highest for firms listed in the USA.

scholarly journals Corporate Governance and Risk Management: Lessons (Not) Learnt from the Financial Crisis

2021 ◽  
Vol 14 (9) ◽  
pp. 419
Author(s):  
Alessandro Gennaro ◽  
Michelle Nietlispach
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Crisis ◽  
Management Practices ◽  
Management Systems ◽  
Management Approach ◽  
The Past ◽  
Corporate Governance Codes ◽  
The Usa ◽  
The Uk

The paper aims to understand if and which lessons have been learned since the financial crisis of 2007–2008, highlighting the main deficiencies which still affect the corporate governance and risk management systems more than a decade after. A survey was performed by collecting the answers to 15 questions about corporate governance and risk management practices, given by a representative sample of 200 finance professionals (100 from the USA, 50 from Italy, 50 from the UK). The survey allows saying that corporate governance codes and risk management approach, even though improved and implemented over the past decade, still present problems in terms of principles or application. The results provide insights into how corporate governance issues are addressed and how financial institutions and regulators learn and adapt from a crisis. The paper also gives new perspectives on corporate governance, indicating where regulators need to focus on to rethink the governance mechanisms.

scholarly journals Directors’ Remuneration and Corporate Governance within the UK

2017 ◽  
Vol 7 (3) ◽  
pp. 12
Author(s):  
Tasnuva Jahan
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
World Economy ◽  
Executive Pay ◽  
Public Companies ◽  
International Debate ◽  
Legal Control ◽  
The Board Of Directors ◽  
The Usa ◽  
The Uk

In this era of globalization and rapid growth of world economy size of directors’ remuneration is a matter of international debate. Current anxieties are around the increase in executive pay as reports disclose that executive pay no longer corresponds with performance and the gap of wealth have widened since the 1980s. The courts, nevertheless, has been reluctant to scrutinise this condition, neither has the legislature shown any interest to fix any standard of pay. Model Articles for Public Companies allow the board of directors to delegate their powers on conditions they seem fit. Compared the pay of CEOs of companies of Japan, Germany and UK with the USA and found that USA and UK were closest with their generous pay. This comparison is important since the UK and the USA have been taking serious techniques to prevent extra pay. This paper will discuss about the issues with remuneration highlighting the legal control of director’s remuneration and the flaws of regulations from different viewpoints of shareholder, executive and company along with social and economic the factors that increases director’s remuneration. 

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