scholarly journals Delayed Adoption of Rules: A Relational Theory of Firm Exposure and State Cooptation

2016 ◽  
Vol 44 (8) ◽  
pp. 3336-3363 ◽  
Author(s):  
Cyndi Man Zhang ◽  
Henrich R. Greve
Keyword(s):  
Relational Theory ◽  
The State ◽  
Governance Reform ◽  
Listed Firms ◽  
Adoption Decision ◽  
Firm Compliance ◽  
Rule Changes ◽  
Low Exposure ◽  
Share Structure ◽  
Firm Exposure

The state creates and changes rules that coerce firms, but firms can delay or decouple responses to rule changes to manage the cost of demands. Theory of compliance to the state has not yet considered the degree to which the firm can delay adoption because of low exposure to rules and state links that allow cooptation, but both of these relations between state power and firm ability to counteract it can affect the adoption decision. This makes the response to state rule changes a more strategic outcome than the theory of coercive isomorphism implies. We develop a relational theory of delayed firm compliance to a state rule change that considers firm exposure due to discrepancy from the rule and firm cooptation of the state due to state links, and we test the theory by examining the adoption of the split-share structure reform, a state-mandated corporate governance reform among listed firms in China. We find that exposure and cooptation influenced the speed of adoption and the decoupling from reform intentions. We also found that their effects on firm response to coercion weaken when the new rule becomes institutionalized. Our theory of delayed compliance is also likely to apply to coercive pressure from other powerful organizations than the state.

scholarly journals Improving governance leads to improved corporate communication

2008 ◽  
Vol 5 (4) ◽  
pp. 26-33 ◽  
Author(s):  
Poh-Ling Ho ◽  
Gregory Tower ◽  
Dulacha G. Barako
Keyword(s):  
Corporate Governance ◽  
Voluntary Disclosure ◽  
Positive Impact ◽  
Governance Structure ◽  
Corporate Communication ◽  
Governance Reform ◽  
Corporate Governance Structure ◽  
Listed Firms ◽  
Corporate Change ◽  
Regulatory Reforms

Significant changes and reforms have been initiated around the world and in a Malaysian context with the aim of enhancing corporate governance and transparency. The nature of these regulatory reforms clearly impacted on firm management’s incentives to disclose information voluntarily. This study empirically examines the influence of corporate governance structure on voluntary disclosure practices of Malaysian listed firms from 1996 to 2001. This important timeframe encompasses the time period before the Asian Financial Crisis and the aftermath of regulatory reforms such as the revamped KLSE Listing Requirement released in 2001, widely recognized as a major milestone in Malaysian corporate governance reform through the enhanced corporate disclosure. Our findings show that the extent of voluntary communication is generally low, albeit showing an increase from 1996 to 2001. There is an increase in the number of corporate governance characteristics adopted by firms, suggesting firms exhibiting an improvement in the corporate governance structure. While corporate governance structure is not a significant explanatory variable in 1996, our results suggest that a firm’s corporate governance structure has a significantly positive impact on voluntary disclosure in 2001. Large companies voluntarily disclose more information in both years. The implications are that a greater focus on corporate governance is resulting in an increase in transparency in the Malaysian setting. Corporate change is generating better corporate communication

Impact of firm-specific characteristics on managers’ identity disclosure

2014 ◽  
Vol 27 (2) ◽  
pp. 150-168
Author(s):  
Etumudon Ndidi Asien
Keyword(s):  
Chief Executive ◽  
The State ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Original Research ◽  
Content Type ◽  
Listed Firms ◽  
Gcc Countries ◽  
Identity Disclosure ◽  
The Impact

Purpose – This paper aims to examine the impact of firm-specific characteristics on managers’ identity disclosure in the Gulf Cooperation Council (GCC) region. Design/methodology/approach – Research data were collected from 2010 annual reports and financial statements of 403 listed firms in the GCC countries. The data were analyzed by multiple regression models. Findings – Evidence suggesting that managers’ identity is significantly disclosed by firms that separate the office of chairman from that of chief executive officer was documented. It was also found that mature firms significantly disclose their managers’ identity. Our finding suggests that firms’ declaration that they comply with a set of corporate governance code leads them to disclose managers’ identity. However, we find that firms that are related to the state significantly disclose their managers’ identity, contrary to expectation. Research limitations/implications – One limitation is the lack of a uniform classification of industries by the stock exchanges in the GCC region. The implication of this is that researchers are lacking a uniform standard to apply in their research. Another limitation is the use of only 2010 annual reports and accounts; thus, there is a problem of inter-temporal generalizability. As markets in the GCC countries are evolving, it will be interesting to capture the state of managers’ identity disclosure after 2010. Practical implications – The paper has the potential to influence firms in the GCC region to begin disclosing managers’ personal details and other contact information. In addition, there is the prospect that market regulators in the GCC region and other emerging markets who may read this research may now require firms to disclose their managers’ identity. Originality/value – This is an Original research paper.

scholarly journals The influence of internal corporate governance mechanisms on capital structure decisions of Chinese listed firms

2017 ◽  
Vol 16 (4) ◽  
pp. 444-461 ◽  
Author(s):  
Agyenim Boateng ◽  
Huifen Cai ◽  
Daniel Borgia ◽  
Xiao Gang Bi ◽  
Franklin Nnaemeka Ngwu
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Fixed Effects ◽  
The State ◽  
Ownership Concentration ◽  
Governance Mechanisms ◽  
Data Set ◽  
Content Type ◽  
Listed Firms ◽  
Corporate Governance Mechanisms

Purpose The purpose of this paper is to examine the effects of internal corporate governance mechanisms on the capital structure decisions of Chinese-listed firms. Design/methodology/approach Using a large and more recent data set consisting of 2,386 Chinese-listed firms over the period from 1998 to 2012, the authors use different statistical methods (OLS, fixed effects and system GMM) to analyse the effects of firm-specific and corporate governance influences on capital structure. Findings The authors find that the proportion of independent directors and ownership concentration exert significant influence on the level of Chinese long-term debt ratios after controlling for firm-specific determinants and split share reforms. Further analysis separating the sample of this paper into state-owned enterprises (SOEs) and privately owned enterprises (POEs) suggests that ownership concentration in the hands of the state leads to decrease in debt ratios. Research limitations/implications The finding implies that concentrated ownership in the hands of the state appears more efficient compared to their private counterparts in their monitoring role. Originality/value This paper extends prior literature, which has concentrated disproportionately on firm-specific influences on capital structure, to the effects of within-firm governance mechanisms on capital structure decisions. The paper contributes to the agency theory–capital structure discourse in an emerging country context where corporate governance system appears weak.

scholarly journals Staatlichkeit, Gouvernementalität und Neoliberalismus

2008 ◽  
Vol 38 (151) ◽  
pp. 307-322 ◽  
Author(s):  
Thomas Biebricher
Keyword(s):  
Relational Theory ◽  
The State ◽  
Analytical Potential ◽  
History Of ◽  
Governmentality Studies

The paper examines Foucault's analytics of the state based on the concept and history of governmentality. While the approach has a promising critical-analytical potential, the latter is not always realized in the works of the governmentality studies. These problems that are particularly related to the conceptualisation and analysis of Neo-Liberalism as a governmentality are examined from the perspective of Bob Jessop's Neo-Marxist strategic-relational theory of the state. It is suggested to adopt some of the insights developed in this approach to realize the potential of Foucault's analytlcs of state more thoroughly.

scholarly journals The impact of firm characteristics on the voluntary disclosure – evidence on the top 50 listed firms of Forbes Vietnam

2021 ◽  
Vol 18 (1) ◽  
pp. 215-222
Author(s):  
Tran Quoc Thinh
Keyword(s):  
Voluntary Disclosure ◽  
Time Series Data ◽  
Ordinary Least Squares ◽  
The State ◽  
Series Data ◽  
State Agencies ◽  
Firm Characteristics ◽  
Listed Firms ◽  
Size Growth ◽  
The Impact

Disclosure plays an important role for information users. Voluntary disclosure is more meaningful for stakeholders in order to make appropriate decisions. The article researches the impact of firm characteristics on the voluntary disclosure of the top 50 listed firms in Forbes Vietnam (50 listed firms) from 2015 to 2019. It uses the ordinary least squares of time-series data to test the regression model. The signaling and agency theory is used to explain the relationship between firm characteristics on voluntary disclosure. The research results show three variables of firm characteristics that positively impact the voluntary disclosure of 50 listed firms, including firm size, growth rate of market share value to book value, and audit type, in which audit type has the strongest influence. Accordingly, the state agencies of Vietnam should encourage 50 listed firms to improve the Vietnamese listed firms’ voluntary disclosure and meet international economic integration. AcknowledgmentWe would like to thank Assoc. Prof. Ngoc Thach Nguyen (Phd), Assoc. Prof. Hoang Anh Ly (Phd) and Assoc. Prof. Thi Loan Nguyen (PhD), as well as some experts of the State Securities Commission of Vietnam and some leaders of 50 listed firms for their advice and support the project.

Climate Change and Implications for Security and Justice

2018 ◽  
Author(s):  
Patrick Huntjens ◽  
Ting Zhang ◽  
Katharina Nachbar
Keyword(s):  
Climate Change ◽  
State Level ◽  
The State ◽  
Governance Reform ◽  
Mitigation And Adaptation ◽  
Climate Action ◽  
Governance Challenges ◽  
Fit For Purpose ◽  
Art Research ◽  
Critical Components

This chapter examines state-of-the art research and thinking on the implications of climate change for security and justice, clarifying the linkages between them and identifying key governance challenges. Climate justice is about protecting the rights of the most vulnerable and sharing the burdens and benefits of climate change and responses to it equitably and fairly, at the state level as well as beyond the state, while safeguarding the rights of future generations. Broader conceptions of climate security as human security have prevailed, and no trend toward greater militarization of climate action is evident, but successful mitigation and adaptation strategies will be critical components of future peacebuilding work. The chapter ends with recommendations that provide potential pathways for policy and governance reform at multiple levels, both to make multilevel climate governance more fit for purpose, and to better anticipate and address the predicted security and justice implications of climate change.

scholarly journals THE IMPACT OF RULE CHANGES AND LEGISLATION ON THE INCIDENCE OF CONCUSSION IN HIGH SCHOOL SOCCER

2020 ◽  
Vol 8 (4_suppl3) ◽  
pp. 2325967120S0023
Author(s):  
Eric D. Nussbaum ◽  
Jaynie Bjornaraa ◽  
Charles J. Gatt
Keyword(s):  
High School ◽  
New Jersey ◽  
Online Survey ◽  
School Setting ◽  
The State ◽  
High School Sports ◽  
School Sports ◽  
Rule Changes ◽  
Similar Survey ◽  
The Impact

Background: There is much concern over the incidence of concussion in high school sports, with a growing focus on soccer, necessitating the need for legislation and formal rule changes for safety reasons. Objective: To note differences in concussive injury between boys and girls soccer and determine the change in reported concussion rates from 2011 vs. 2017 in order to study the impact of legislation and rule changes on the rates of concussion in high school soccer in the state of New Jersey. Design: Comparative Study Methods: Licensed athletic trainers working in the secondary school setting in the state of New Jersey voluntarily participated in an online survey on the incidence of concussion in boys and girls soccer. This de-identified data was compared with data collected from a similar survey conducted in 2011. Results: In 2017 there were 168 concussions occurred among 3255 male soccer athletes. Eight-five percent of concussions (145/168) occurred during games, with the remainder occurring in practice. Forty-five percent (76/168) occurred to varsity players with the majority occurring during games (84%). Fewer concussions were reported to junior varsity and freshman players.. In 2017, Incidence Rate (IR) for all male soccer athletes was calculated at 0.36 concussions per 1000 athletic exposures (AE). Injury Proportion (IP) was 5%. Clinical Incidence was 0.05 concussions per athlete. This represented a 38% increase in IR/1000 AE from 2011 to 2017, and a 39% increase in IP 2011 vs 2017 In 2017, a total of 2604 female soccer athletes, reported 195 concussions with the majority occurring during games (83%). Varsity athlete reported the higher number of concussions relative to junior varsity and freshman soccer athletes IR/1000 AE was 0.48 vs 0.43 in 2011 (12% increase), while IP was 7% vs 6% in 2011 (17% increase Females had a greater IR/1000 AE than males (.48 vs. .36). Clinical incidence was also greater for female soccer athletes than male soccer athletes (0.075 vs. 0.05). Conclusion: Despite legislation and rule changes, the incidence of concussion in both boys and girls high school soccer is increasing and particularly during games. Playing at the varsity level and game play has the highest association with injury and should be subject to greater scrutiny. Additionally, more concussions are occurring to female soccer athletes than male players. This information provides a snapshot of a significant problem that deserves greater attention. [Table: see text][Table: see text]

When Do Challengers Succeed? Nongovernmental Actors, Administrative Agencies, and Legal Change: Shifting Rules for Oregon's Private Forests

2011 ◽  
Vol 36 (03) ◽  
pp. 662-693 ◽  
Author(s):  
Ruth Langridge
Keyword(s):  
Natural Resource ◽  
State Level ◽  
The State ◽  
Legal Change ◽  
Legal Regime ◽  
Private Forests ◽  
Political Opportunities ◽  
Administrative Agencies ◽  
Rule Changes ◽  
Regulatory Regimes

Regulatory regimes are notoriously resistant to change, so when less powerful actors manage to reshape long-established rules and gain increased access to a natural resource the interesting question is why? This article investigates relations between different claimant groups and the state in the reshaping of the regulations governing Oregon's private forestlands, how this process was mediated by broader political opportunities and constraints, and the conditions that supported a shift in the legal regime that benefited less advantaged interests. The intent is to deepen our understanding of the circumstances under which well-established rules of governance are altered. Analysis points to each of the following variables as significant for successful reform: (1) active challengers and their success in reframing issues to support their goals, (2) new political opportunities facilitating wider participation in the rulemaking process, and (3) concurrence between local and national aspirations supporting reform. While each condition is noteworthy, it is insufficient on its own. Rather, my study comparing two contested administrative rules suggests that a clear alignment of all three variables provides the strongest impetus for legislative and administrative rule changes at the state level benefiting less advantaged interests.

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