Corporate Governance, Quality of Financial Information, and Macroeconomic Variables on the Prediction Power of Financial Distress of Listed Companies in Taiwan

Abstract The corporate governance quality has always been a decision criterion for investments, many recent studies trying to define metrics in order to help investors in their decision process. In this paper we investigate whether the clustering of companies’ information concerning their corporate governance politics and financial information could be mapped with the help of clustering. Our approach is to build clusters using machine learning techniques, based on corporate governance and financial variables from a number of 1400 listed companies. We evaluate the obtained clusters by matching them with the classes of two well-known indicators (Tobin’s Q and Altman Z-score), used to estimate the companies’ performance. We obtain partial matches of the benchmark variables and we compare the performances of the used algorithms.

Corporate governance of German growth companies. Empirical analysis of the corporate governance quality and the structure of supervisory boards of companies listed on TEC-DAX

Corporate Ownership and Control ◽

10.22495/cocv3i3p10 ◽

2006 ◽

Vol 3 (3) ◽

pp. 128-137 ◽

Cited By ~ 4

Author(s):

Alexander Bassen ◽

Maik Kleinschmidt ◽

Christine Zöllner

Keyword(s):

Corporate Governance ◽

Empirical Analysis ◽

Supervisory Board ◽

High Importance ◽

Supervisory Boards ◽

Governance Quality ◽

Corporate Governance Quality ◽

High Level ◽

Agency Risk

This article analyses the importance of corporate governance for growth companies, derives specific requirements for them and evaluates the corporate governance quality for companies listed on TecDax. Growth companies’ characteristics imply a comparatively high importance of corporate governance due to a high level of business and agency risk. Several corporate governance elements are therefore particularly important for growth companies. Overall, the empirical results imply a high conformity of the Tec-Dax companies with the GCGC criteria with some exceptions for specific companies and criteria. But the analysis of the quality of their supervisory boards delivers a differentiated result as in some of the analysed companies the effectiveness of the supervisory board is questionable.

The value of improvements in measured corporate governance quality

Corporate Ownership and Control ◽

10.22495/cocv8i4c2art1 ◽

2011 ◽

Vol 8 (4) ◽

pp. 239-252

Author(s):

Tom Berglund

Keyword(s):

Corporate Governance ◽

Listed Companies ◽

Nordic Countries ◽

Governance Systems ◽

Different Types ◽

Governance Quality ◽

Corporate Governance Quality

This paper analyses data for Nordic listed companies in 2002-2008 to find out whether the market has rewarded companies that have improved their corporate governance systems as measured by the CG –quotient compiled by RiskMetrics (previously Institutional Shareholder Services, ISS). The paper also investigates which improvements have been more important as value enhancers and which ones are considered value irrelevant by the market. Finally the paper looks at whether there are differences between the four biggest Nordic countries in how different types of corporate governance improvements are perceived by the market.

Do stock prices reflect the corporate governance quality of Japanese firms?

Journal of the Japanese and International Economies ◽

10.1016/j.jjie.2008.05.001 ◽

2008 ◽

Vol 22 (4) ◽

pp. 647-662 ◽

Cited By ~ 27

Author(s):

Hiroyuki Aman ◽

Pascal Nguyen

Keyword(s):

Corporate Governance ◽

Stock Prices ◽

Japanese Firms ◽

Governance Quality ◽

Corporate Governance Quality

Corporate governance quality, incentive factors and voluntary corporate governance disclosures in annual reports of Malaysian publicly listed companies

Corporate Ownership and Control ◽

10.22495/cocv10i1c3art3 ◽

2012 ◽

Vol 10 (1) ◽

pp. 329-352

Author(s):

Norziana Lokman ◽

Julie Cotter ◽

Joseph Mula

Keyword(s):

Corporate Governance ◽

Voluntary Disclosure ◽

Listed Companies ◽

Annual Reports ◽

Voluntary Disclosures ◽

Comprehensive Index ◽

Governance Quality ◽

Quality Incentive ◽

Corporate Governance Quality ◽

The Relationship

This paper investigates the relationship between corporate governance quality and voluntary disclosure of corporate governance information for listed companies in Malaysia. The moderating impacts of incentive factors (capital market transactions and stock-based incentives) on this relationship are also examined. Corporate governance quality is measured using a comprehensive index. The empirical evidence of this study is broadly consistent with the notion that high corporate governance quality is positively related to a greater extent of voluntary disclosure. Stock-based compensation significantly influences the relationship between corporate governance quality and voluntary disclosures; however the other incentive factors examined do not appear to influence the relationship

THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY AS MEDIATION IN INDONESIA

Muhammadiyah International Journal of Economics and Business ◽

10.23917/mijeb.v2i1.9372 ◽

2019 ◽

Vol 2 (1) ◽

pp. 1-8

Author(s):

Rintan Nuzul Ainy ◽

Khusnul Hidayah

Keyword(s):

Corporate Governance ◽

Positive Impact ◽

Company Performance ◽

Governance Quality ◽

Corporate Governance Quality ◽

Indirect Relationship ◽

Corporate Social ◽

Relationship Of

This study examines the direct and indirect relationships between the quality of corporate governance and company performance with CSR as mediation. A better quality of corporate governance means the more fulfilled of stakeholder’s interest so that it will give positive impact on the company performance. Data of corporate governance quality and CSR were obtained by carrying out a content analysis on the company’s annual report for 2016. The analysis was done based on a template developed by the Forum for Corporate Governance in Indonesia (FCGI) and GRI Index. The results show that companies that disclose information about CSR activities have better performance than those that do not perform it. Such information is considered as a sign that the company has fulfilled all stakeholders’ interests. Furthermore, the results also show that corporate governance quality does not affect the level of company performance. Nevertheless, this research cannot prove the indirect relationship of CSR on the interaction between corporate governance and company performance in Indonesia.

Corporate governance and shareholder value in listed firms: An empirical analysis in five countries (France, Italy, Japan, UK, USA)

Corporate Ownership and Control ◽

10.22495/cocv10i3siart3 ◽

2013 ◽

Vol 10 (3) ◽

pp. 36-50 ◽

Cited By ~ 1

Author(s):

Barbara Monda ◽

Marco Giorgino

Keyword(s):

Corporate Governance ◽

Firm Value ◽

One Dimension ◽

Four Dimensions ◽

Listed Firms ◽

Governance Systems ◽

Governance Quality ◽

Corporate Governance Quality ◽

The Relationship

In this paper, we design a multi-dimensional index to measure the quality of Corporate Governance systems adopted by firms and use it to investigate the correlation between Corporate Governance quality and firm value. Unlike most studies that examine the relationship between only one dimension of Governance and firm value, we present a complex index (CGI) composed of 39 variables referable to four dimensions: Board, Remuneration, Shareholder Rights and Disclosure. By analysing a sample of 100 large companies listed on the main stock markets in five different countries over three years (2009-2011), we confirm the widespread hypothesis of the existence of a positive and statistically significant relationship between Corporate Governance, as measured by a subset of 12 variables, and firm value.

The Effect of Corporate Governance Attributes on Audit Quality in Nigeria

International Journal of Recent Technology and Engineering - 2 ◽

10.35940/ijrte.d8313.118419 ◽

2019 ◽

Vol 8 (4) ◽

pp. 4882-4886

Keyword(s):

Corporate Governance ◽

Audit Committee ◽

Audit Quality ◽

Negative Relationship ◽

Listed Companies ◽

Financial Information ◽

Annual Reports ◽

Board Independence ◽

And Gender

An excellent relationship between corporate governance attributes and audit quality is another monitoring mechanism that enhances the reliability of financial information. Though, one of the strategies of achieving the qualitative audit is that auditors must be independent of mind and appearance. As such, an active board and audit committee may support in monitoring the reliability of an entity’s audit quality. The objective of this study is to investigate the effect of corporate governance attributes on audit quality for the Nigerian listed companies. The population of the study includes all the companies in the eleven sectors of the economy, excluding the financial sector from 2012-2017. The study used only sixty-three companies as a sample after filtration and screening. The data was obtained from the annual reports and accounts of the selected companies. Multiple regression was carried out in testing the relationships between the dependent and independent variables. The result of the regression highlighted an insignificant negative relationship for board independence and positive significant and negative significant for meetings and gender of the audit committee, respectively. Agency is the main theory employed, which is supported by earnings management theory. Thus, the findings support and contradict the theories. For the implication, this study provides clarification on the contributions of the board independence and audit committee meetings and gender towards the audit quality of the Nigerian listed companies, and this will help the users of the financial information and relevant scholars in literature development.