New Japan’s Corporate Governance Code and its Scrutiny from the Perspective of 'Sustainable Growth of the Company and Improvement of Medium-to Long-Term Corporate Value' (Presentation Slides)

2021 ◽  
Author(s):  
Hiroyuki Watanabe
2018 ◽  
Vol 4 (2) ◽  
pp. 91
Author(s):  
N.T. Pham T.L.M Verdoes ◽  
J. Nijland

This article provides additional insight on the effectiveness of long-term value creation as a legally enforceable norm in the corporate governance system and provides a framework to anchor long-term value creation in takeover decisions. Since the 2008 financial crisis, a growing number of voices in the business world, government and academia, have urged Western economies to move towards a long-term sustainable growth agenda. Boards have a vital part to play in the development of responsible companies. Corporate governance should encourage boards to do so. This could be viewed as a reaction to the negative effects of capital markets and the resulting short-termism. One key method to encourage sustainable value creation in companies is by incorporating long-term value creation as an open norm in corporate governance systems. In the case of a hostile takeover, the risk of short-termism is exacerbated. As a guiding principle, long-term value (LTV) creation should prevent hostile takeovers that could harm the success of the company concerned. In this research paper, we argue that the recent shift in Dutch case law and revision of the Corporate Governance Code in the Netherlands may serve as an important catalyst for ‘sustainable’ takeover decisions. Through ground-breaking judgments by the Dutch Supreme Court and Enterprise Court, Cancun and Akzo Nobel, LTV has acquired the status of an enforceable norm. We investigated whether this legal norm is empirically substantiated. The research results allow us to make well-grounded statements about the effectiveness of enforcing LTV in future hostile takeover situations.


2018 ◽  
Vol 11 (2) ◽  
pp. 159-184
Author(s):  
Suveera Gill ◽  
Manika Kohli

Ensuring effective and fair determination of executive compensation is complex, though equally essential for protecting the interests of shareholders and in creating long-term corporate value. The present study attempts to unravel the perceptions of executives and investors in terms of the determinants on which executive compensation ought to be based in the context of corporate India. The main research instrument is a quantitative questionnaire through which the responses of 74 top executives and 55 investors have been examined. Results highlight statistically significant mean differences in the perception of executives and investors with regards to the determinants of executive compensation. Further, the underlying dimensions representing pay determinants vary for executives and investors with the former regarding corporate governance and human capital as important, while the latter emphasising on the primacy of ownership and leverage. The article offers valuable insight as it proposes a comprehensive set of determinants of executive compensation by integrating multiple theoretical perspectives.


Think India ◽  
2015 ◽  
Vol 18 (1) ◽  
pp. 16-23
Author(s):  
Hitesh Shukla ◽  
Nailesh Limbasiya

Growth, progress, and prosperity of any country depend highly on the corporate governance mechanism of that country. Good governance of a country helps it to sustainable growth and consistency in progress. The good governance should contribute towards the improvement in transparency, ethics, morality, and disclosure. The principles of good governance stand on honesty, trust, integrity, openness, and performance orientation. Our honorable Prime Minister Narendra bhai Modi had given the three E for good governance during his speech on Independence Day i.e. Effective Governance, Electronic Governance, and Ethical Governance. The fundamental concern of corporate governance mechanism is to ensure the protection of minority shareholders/owners of specific firms. Mechanism of a corporate governance specifies the relations among the shareholders, board of directors, and managers. The present paper is an attempt to evaluate the effectiveness of the board by calculating the corporate governance score. The mandatory and non-mandatory guidelines have been considered while assigning points to specific parameters of the corporate governance.


2021 ◽  
Vol 13 (4) ◽  
pp. 1888
Author(s):  
Maria Gaia Soana ◽  
Laura Barbieri ◽  
Andrea Lippi ◽  
Simone Rossi

The wide-ranging academic literature on corporate governance in the banking sector includes only a few studies on bank ownership and, specifically, on the comparative power of shareholders within the corporate structure. This paper reports an investigation into the presence of multiple large shareholders and their influence on profitability and risk in the long-term, considering a sample of 697 U.S. and European listed commercial banks from 2008 to 2018. It was found that the number of large and institutional shareholders has a positive impact on profitability, but no effect on risk. However, long-term ownership by multiple large shareholders contributes to decreasing risk in banks.


Processes ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 443
Author(s):  
Elena Širá ◽  
Rastislav Kotulič ◽  
Ivana Kravčáková Vozárová ◽  
Monika Daňová

The Europe 2020 Strategy was proposed with a long-term vision to ensure prosperity, development, and competitiveness for the member countries. This strategy is divided into three main areas named “growth”. One of these is sustainable growth. This is an area of sustainability, where the partial targets are referred to as the “20-20-20 approach”, and includes a reduction of greenhouse gas emissions, an increase in energy efficiency, and the sharing of renewable energy sources. However, questions arise, including: How do member states meet these targets? Which countries are leaders in this area? According to these stated questions, the aim of this article is to assess how EU countries are meeting the set targets for sustainable growth resulting from the Europe 2020 strategy and to identify the countries with the best results in this area. We looked for answers to these questions in the analysis of sustainable indicators, which were transformed into a synthetic measure for comparability of the resulting values. Finally, we identified the Baltic states, Nordic countries (European Union members), Romania, and Croatia as the best countries in fulfilling the sustainable growth aims. As sustainable development and resource efficiency are crucial areas for the future, it is important to consider these issues.


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