scholarly journals Informal Institutions in the Corporate Governance System in Russia

2016 ◽  
Vol 19 (4) ◽  
Author(s):  
Monika Fiedorczuk
Keyword(s):  
Corporate Governance ◽  
Dominant Role ◽  
Informal Institutions ◽  
Point Of View ◽  
Minority Shareholders ◽  
Governance System ◽  
Market Mechanisms ◽  
Role Of The State ◽  
Corporate Governance System

The corporate governance system in Russia, having evolved through years, can be characterized by the following features: the dominant role of the concentrated ownership structure, corporate supervision relying on a combination of ownership function and company management, the significant role of the state as the owner, and the fairly marginal relevance of external market mechanisms. Those features result partly from particular legal solutions and partly from the unwritten, informal customs or patterns of behaviour of the so-called informal institutions.The article’s main thrust is to analyse selected informal institutions which were considered the most significant from the Russian corporate governance system point of view. These are, among others: the tendency not to obey the rights of minority shareholders, informal relationships of enterprises with authorities of various levels, and corruption. The author assumes that informal institutions decide upon the specificity of the corporate governance system in Russia and its particular elements, and upon the efficient functioning of supervisory mechanisms.

Independent Directors: Decision-Makers in the us, Powerless Advisers in China

2016 ◽  
Vol 3 (1) ◽  
pp. 70-111
Author(s):  
Wenjia Yan
Keyword(s):  
Corporate Governance ◽  
Company Law ◽  
Decision Makers ◽  
Independent Directors ◽  
Minority Shareholders ◽  
Governance System ◽  
Governance Model ◽  
Corporate Governance System ◽  
Independent Decision ◽  
Corporate Governance Model

As a global popular corporate governance system developed in the us, independent directors were officially adopted by China through ‘Guiding Opinions on the Establishment of Systems of Independent Directors by Listed Companies’ (hereinafter Independent Directors Opinion) in 2001 and through Article 123 of Company Law when it was amended in 2005. The emphasis on minority shareholders’ protection by adopting independent directors in China can be attributed to the global influence of the American corporate governance model, which depends on disinterested directors as independent decision-makers. However, with more than 10 years having passed, independent directors serve as powerless advisers rather than decision-makers in China. Accordingly, this paper aims to ascertain some profound reasons for powerless advisers in China and provide recommendations to address this problem by comparing the role of independent directors in China and the us.

The Role of Finance and Corporate Governance in National Systems of Innovation

2007 ◽  
Vol 28 (10) ◽  
pp. 1461-1481 ◽  
Author(s):  
Andrew Tylecote
Keyword(s):  
Corporate Governance ◽  
Three Dimensions ◽  
Governance System ◽  
Systems Of Innovation ◽  
Governance Systems ◽  
Variation Patterns ◽  
Technological Advantage ◽  
Corporate Governance System ◽  
National Systems

Firms are central actors in innovation, and their actions are much affected by their corporate governance and the finance available. Thus a country's finance and corporate governance system is a key element of its national system of innovation. The technological regimes of sectors (and sub-sectors) vary in ways that affect the demands innovation makes on the financial and corporate governance system. Finance and corporate governance systems (FCGSs) vary among countries in their ability to meet these demands. By setting three dimensions of regime variation alongside the three corresponding dimensions of FCGS variation, patterns of relative and absolute technological advantage among economies can be largely explained — particularly when the focus is on nationality of firm rather than location of activity.

scholarly journals Assessing the Impact of Corporate Governance on Non-Performing Loans: Empirical Analysis of the Listed Commercial Banks of Pakistan

2019 ◽  
Vol IV (III) ◽  
pp. 188-196
Author(s):  
Ihtesham Khan ◽  
Muhammad Ilyas ◽  
Shehzad Khan
Keyword(s):  
Corporate Governance ◽  
Banking Industry ◽  
Annual Reports ◽  
Governance System ◽  
Nonperforming Loans ◽  
Time Period ◽  
Corporate Governance System ◽  
The Impact ◽  
Code Compliance

Financial crisis shows the ambiguous role of the corporate governance system. Hence, the main purpose of this paper is to assess the impact of corporate governance on Non-performing loans of the banking industry of Pakistan. The time period selected from 2006 to 2016 and source of data is annual reports of respective banks and the World Bank. In order to explain the relationship between the governance system and non-performing loans used descriptive, correlational and panel data analyses. The results revealed a negative and significant effect of corporate governance on nonperforming loans of sample firms of the study. Therefore, suggested for the banking industry of Pakistan to implement and make sure their reports according to corporate governance code compliance to control non-performing loans.

scholarly journals Effect of Earnings Management on Firm Value with Corporate Governance as a Moderating Variable

2021 ◽  
Vol 9 (2) ◽  
pp. 262-268
Author(s):  
Jevri Afrizal ◽  
Rindu Rika Gamayuni ◽  
Usep Syaipudin
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Firm Value ◽  
Management Practices ◽  
Governance System ◽  
Corporate Governance System ◽  
And Performance ◽  
Conceptual Study ◽  
Positive Effect

This study aims to provide a conceptual study of the effect of earnings management on firm value by including corporate governance. as a moderating variable. This paper is a conceptual paper that discusses issues related to earnings management on firm value and the role of corporate governance in minimizing earnings management practices so as to increase firm value. Previous theoretical studies have shown that earnings management is effectively controlled by the corporate governance system and performance. In addition, the results of previous studies found empirical evidence that there is a positive relationship between earnings management and firm value. From the theoretical discussion and previous research, it is concluded that earnings management practices have a positive effect on firm value as moderated by corporate governance.

scholarly journals The role of government in corporate governance: Perspectives from the UK

2011 ◽  
Vol 9 (1) ◽  
pp. 283-293 ◽  
Author(s):  
Emmanuel Adegbite ◽  
Philip Shrives ◽  
Timothy Nichol
Keyword(s):  
Corporate Governance ◽  
Self Regulation ◽  
Governance System ◽  
Role Of Government ◽  
The Public ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
The Government ◽  
The Uk

Incessant corporate failures have led to increasing governmental participation in the governance of the modern corporation. In this conceptual paper, we examine and propose that the role of government in the UK corporate governance system is four fold, namely: to enhance competitive advantage; to compensate for the failure of self-regulation; to prevent corporate scandals and restore investors’ confidence; and owing to significant public pressures and associated political undertones, to suggest to the public the government is still an effective overseer in the existing prominence of self-regulation. We contribute to the literature on corporate governance, politics, policy making and regulatory institutions, whilst raising important issues that are of practice and policy relevance.

Changes in ownership forms and role of institutional investors in governing public companies in Malaysia

2015 ◽  
Vol 11 (4) ◽  
pp. 455-475 ◽  
Author(s):  
Hairul Azlan Annuar
Keyword(s):  
Corporate Governance ◽  
Institutional Investors ◽  
Institutional Investor ◽  
Governance System ◽  
Public Companies ◽  
Content Type ◽  
Investment Companies ◽  
Corporate Governance System ◽  
Different Types

Purpose – The purpose of this paper is to ascertain whether different types of institutional investor in Malaysia are involved in the corporate governance of their investee companies, and, if yes, to what extent is the level of the involvement. Design/methodology/approach – A qualitative approach, consisting of a series of interviews with 18 senior investment managers of different types of institutional investor, was chosen. Findings – The findings suggest that lessons learnt from the fallout of the Asian crisis has made Malaysian institutional investors not only to be more prudent in managing their total funds and in making equities investment decisions, but has resulted in a more active participation in their “core” investee companies apart from merely discharging their voting rights. Interview analysis revealed that government-linked investment companies are championing the cause and could possibly affect the overall level of institutional investors’ involvement, which bode well for the future of the corporate governance system of the country. Research limitations/implications – Generalisations may be an issue when interviews are used as the method of inquiry. Also, the sample is not random, as access to many managers depended on recommendations. In addition, respondents were consciously selected to obtain different types of institutional investors that included government and non-government linked. Originality/value – There is a lack of work on studying the involvement of institutional investors in developing countries, whereby previous work and literature review were predominantly based upon the experience of Western economies.

IMPROVING THE EFFICIENCY OF THE BANK'S BOARD OF DIRECTORS BY IMPROVING RISK MANAGEMENT

2021 ◽  
Vol 4 (12) ◽  
pp. 30-34
Author(s):  
Indira Z. Toguzova ◽  
◽  
Soslan I. Kalitsov ◽  
Natalie V. Kisieva ◽  
Zarina E. Tarkhanova ◽  
...  
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Board Of Directors ◽  
Governance System ◽  
Corporate Risk Management ◽  
Integrated Risk ◽  
Corporate Governance System ◽  
The Board Of Directors ◽  
Corporate Risk

Banking risk management has become particularly important in an unstable and volatile exter-nal environment. It presupposes both the development of the instrumental elements of the integrated risk management system and the development of the corporate governance system. The article examines the features of risk management both at the level of bank management and at the level of corporate governance, in particular, the role of the board of directors in effective corporate risk management is shown. On this basis, the authors formulated recommendations for the formation of a culture of risk management.

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