Do Stock Prices Reflect the Corporate Governance Quality of Japanese Firms?

2009 ◽  
Author(s):  
Hiroyuki Aman ◽  
Pascal Nguyen
Keyword(s):  
Corporate Governance ◽  
Stock Prices ◽  
Japanese Firms ◽  
Governance Quality ◽  
Corporate Governance Quality

scholarly journals 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

2006 ◽  
Vol 3 (3) ◽  
pp. 128-137 ◽  
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.

scholarly journals THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY AS MEDIATION IN INDONESIA

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.

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

2013 ◽  
Vol 10 (3) ◽  
pp. 36-50 ◽  
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.

scholarly journals Pengungkapan Laporan Keuangan Sebagai Variabel Mediasi Pengaruh Kualitas Corporate Governance Terhadap Asimetri Informasi

2021 ◽  
Vol 21 (02) ◽  
Author(s):  
Laailatul Amanah ◽  
Nursiam Nursiam ◽  
Suhesti Ningsih
Keyword(s):  
Corporate Governance ◽  
Information Asymmetry ◽  
Good Governance ◽  
Selection Process ◽  
Sample Selection ◽  
Financial Statements ◽  
Financial Statement ◽  
Governance Quality ◽  
Corporate Governance Quality

The application of good corporate governance is a fundamental need for companies and other institutions to succeed in the long term, good governance will force companies to conduct sufficient financial statement disclosures so as to reduce information asymmetry for users of financial statements. This study aims to examine whether quality of corporate governance influences information asymmetry through disclosure of financial statements. The object of this study is a non-financial category compannies that has obtained a score related to the implementation of corporate governance by IICG which was published in SWA magazine as the Most Trusted Conpany from 2012 to 2018. The sample selection process uses purposive sampling. The results of sample selection were obtained by 52 companies The data analysis technique in this study uses path analysis. The test of the direct effect of quality of corporate governance on information asymmetry shows that corporate governance quality has a positive effect on information asymmetry, while the test results of the indirect effect of corporate governance quality on information asymmetry through financial statement disclosure show that disclosure of financial statements is not a mediating variable on the effect of corporate governance quality on information asymmetry, this is caused because almost all sample companies make disclosures of financial statements in a relatively the same amount but the CG score results change in each year.

scholarly journals Foreign primary listings and corporate governance bonding

2010 ◽  
Vol 8 (1) ◽  
pp. 800-817 ◽  
Author(s):  
Ling Mei Cong ◽  
Greg Tower ◽  
Mitchell Van der Zahn ◽  
Alistair Brown
Keyword(s):  
Corporate Governance ◽  
Direct Evidence ◽  
Foreign Market ◽  
Firm Characteristics ◽  
Bonding Theory ◽  
Cross Listing ◽  
Significant Difference ◽  
Governance Quality ◽  
Corporate Governance Quality

This paper investigates whether a foreign primary listing is associated with corporate governance bonding of PRC firms listed in Hong Kong and Singapore. Consistent with bonding theory, there is a significant difference between the corporate governance quality of PRC firms with a foreign primary listing and counterparts with a domestic primary listing only (i.e. the PRC benchmark). The corporate governance quality of PRC foreign primary listing firms is not significantly different from foreign market benchmarks. The association between the foreign primary listing and corporate governance quality holds when firm characteristics are controlled for. Findings from this paper contribute to the cross listing literature by providing direct evidence on the corporate governance bonding associated with PRC foreign primary listings.

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