scholarly journals Public companies’ transparency in Ukraine: key regulatory requirements

2017 ◽  
Vol 6 (1) ◽  
pp. 8-14 ◽  
Author(s):  
Inna Makarenko ◽  
Yulia Serpeninova
Keyword(s):  
Financial Reporting ◽  
Public Interest ◽  
Financial Information ◽  
Regulatory Requirements ◽  
Financial Efficiency ◽  
Private Companies ◽  
Public And Private ◽  
Public Companies ◽  
European Experience ◽  
The Relationship

Public companies as strategically important and economically powerful Ukrainian companies should be classified as public interest entities in the context of European integration. Based on the research methodology of the Index of public companies’ transparency of the Center for CSR Development and research of largest public and private companies’ transparency in Ukraine, conducted by TI, the authors concluded about critically low level of transparency of public companies in the disclosure of audited financial reporting, as well as non-financial reporting. This research may contribute to the existing literature in regard to identifying key areas of improving transparency of public companies in Ukraine on the basis of amendments to the existing order of reporting and additional disclosure of non-financial information and carrying out the statutory audit, taking into account European experience. Among the issues that require further study, the authors should name the relationship between the level of transparency of public companies, their financial efficiency and investment attractiveness. Among the promising areas of research, the extension of the study on transparency of public interest entities after the publication by the European companies of the first statements prepared in accordance with Directive 2014/95/EU is worth noting. Limitations of the research carried out concerned the size of the sample Ukrainian public companies analyzed.

Financial Reporting Fraud: Public and Private Companies

2016 ◽  
Vol 1 (1) ◽  
pp. A27-A41 ◽  
Author(s):  
A. Scott Fleming ◽  
Dana R. Hermanson ◽  
Mary-Jo Kranacher ◽  
Richard A. Riley
Keyword(s):  
Financial Reporting ◽  
Primary Objective ◽  
Private Company ◽  
Private Companies ◽  
Public And Private ◽  
Public Companies ◽  
Multivariate Tests ◽  
Public Company ◽  
Public Versus Private ◽  
Financial Reporting Fraud

ABSTRACT This study uses survey data gathered by the Association of Certified Fraud Examiners (ACFE) and provided to the Institute for Fraud Prevention (IFP) to examine differences in the profile of financial reporting fraud (FRF) between private companies and public companies. Although private companies represent a significant portion of the economy, largely due to lack of data on these companies, most research on FRF examines only public companies. The primary objective of this study is to determine how private company FRF is different from FRF in public companies. Our multivariate tests reveal that public companies have stronger anti-fraud environments, are more likely to have frauds that involve timing differences, tend to experience larger frauds, have frauds that involve a larger number of perpetrators, and are less likely to have frauds that are discovered by accident. Overall, it appears that the stronger anti-fraud environment in public companies leads public company FRF perpetrators to use less obvious fraud methods (i.e., timing differences) and to involve larger fraud teams to circumvent the controls. These public company frauds are larger than in private companies, and their larger size may make them more likely to be detected through formal means, rather than by accident. Based on the results, we encourage auditors and others to be particularly attuned to the unique risks of the public versus private setting.

An Analysis of Web Home Page Disclosure Practices of Top Public and Private Indian Banks

2015 ◽  
Vol 3 (2) ◽  
Author(s):  
Mandeep Kaur ◽  
Manpreet Kaur
Keyword(s):  
Positive Relationship ◽  
Home Page ◽  
Financial Information ◽  
Public And Private ◽  
Communication Device ◽  
Indian Banks ◽  
Public And Private Sector ◽  
The Relationship ◽  
Source Of Information ◽  
The Web

Internet is a very powerful communication device to disclose financial and non-financial information. Almost every company today maintains its website and disseminates their information voluntarily. Internet is very exciting medium to disclose information in the form of presentation. It has become most frequently used source of information. This paper tries to examine the web home page disclosure practices of top public and private Indian banks and try to find out the relationship between the disclosure score and size of bank by using the sample of 20 banks which constitute of top public and private sector banks. The results show that there is positive relationship between the disclosure score and size of bank.

scholarly journals Do audit committee characteristics of Bahraini listed companies have an effect on the level of internet financial reporting?

2016 ◽  
Vol 13 (3) ◽  
pp. 131-147 ◽  
Author(s):  
Sara AbdulHakeem Saleh AlMatrooshi ◽  
Abdalmuttaleb M. A. Musleh Al-Sartawi ◽  
Zakeya Sanad
Keyword(s):  
Corporate Governance ◽  
Literature Review ◽  
Financial Reporting ◽  
Audit Committee ◽  
Positive Relationship ◽  
Listed Companies ◽  
Financial Information ◽  
The Internet ◽  
Regression Test ◽  
The Relationship

Corporate Governance and IFR are influential topics that need to be addressed nowadays due to its importance. Especially since companies are growing and extending globally. This research is conducted in Kingdom of Bahrain through the year 2014, where it investigates the relationship between Audit Committee characteristics as a tool of CG and IFR. Literature review has been conducted, not to mention Multi-regression test was used to evaluate the relationship between Audit Committee characteristics and IFR for Bahraini listed companies. The results have showed that the relationship between Audit Committee characteristics and IFR is negative, which indicates that the Audit committee characteristics have no influence over the disclosure of financial information over the internet. However, Frequency of meeting of the board and Big4 resulted in a positive relationship with internet financial reporting. The study ends with a main conclusion and recommendation that contain certain steps and advices of disclosing financial information in an appropriate way through the internet in order to improve the relationship between Audit committee characteristics and IFR.

14. Meetings and investor engagement

Company Law ◽  
2019 ◽  
pp. 339-374
Author(s):  
Lee Roach
Keyword(s):  
Financial Reporting ◽  
Institutional Investors ◽  
Majority Vote ◽  
General Meeting ◽  
Annual General ◽  
Annual General Meeting ◽  
Private Companies ◽  
Class Meeting ◽  
Public Companies ◽  
The Uk

This chapter examines the role and importance of general meetings, the significant body of procedural rules by which general meetings are run, and the extent to which a company's members actually engage with general meetings. Members make decisions in one of two ways: through a resolution or by unanimous assent. A resolution is simply a vote that requires a specified majority vote in its favour in order to be passed. The resolutions of public companies must be passed at meetings, whereas resolutions of private companies can be passed at meetings or via a written resolution. Two forms of general meeting existed: the annual general meeting and extraordinary general meetings. In some cases, however, companies are required to hold a class meeting in which only one class of member is entitled to attend. To encourage institutional investors to engage more, the Financial Reporting Council (FRC) has published the UK Stewardship Code.

Abusive supervision and employees' job performance: A multiple mediation model

2017 ◽  
Vol 45 (5) ◽  
pp. 845-858 ◽  
Author(s):  
Zhi-xia Chen ◽  
Hong-yan Wang
Keyword(s):  
Job Performance ◽  
Self Efficacy ◽  
Negative Relationship ◽  
Abusive Supervision ◽  
Mediating Effect ◽  
Multiple Mediation ◽  
Private Companies ◽  
Public And Private ◽  
Member Exchange ◽  
The Relationship

We explored the relationship between abusive supervision (AS) and employee job performance (EJP) by conducting a survey of a group of employees (N = 630) of Chinese public and private companies. We investigated possible mediation in the relationship by leadership justice, supervisory trust, and self-efficacy from three perspectives, namely, self-concept and individual socialization, organizational justice, and leader–member exchange. The results showed that there was a negative relationship between AS and EJP that was mediated by leadership justice, supervisory trust, and self-efficacy. We also found that the negative relationship between AS and EJP was affected by the joint mediating effect of leadership justice and supervisory trust. Implications for academicians and practitioners are discussed.

scholarly journals The Accounting Profession’s Role in Corporate Governance in Frontier Markets: a Research Agenda

2014 ◽  
Vol 5 (2) ◽  
pp. 7-22 ◽  
Author(s):  
Carl A. Crittenden II ◽  
William F. Crittenden
Keyword(s):  
Corporate Governance ◽  
Financial Institutions ◽  
Financial Reporting ◽  
Research Agenda ◽  
Essential Role ◽  
Emerging Market ◽  
Financial Information ◽  
Public And Private ◽  
Financial Reports ◽  
Rules Of The Game

Accountants, and especially auditors, play an essential role in financial reporting of public and private firms. Stakeholders of companies in frontier markets rely on financial reports to assist with uncertainty avoidance. Yet, the rules of the game are evolving and not well known. If firms, financial institutions and individuals are to invest and commit resources within frontier nations, there has to be confidence in the accuracy of financial information. The research ideas generated herein fuse early work on corporate governance with more recent research from a variety of emerging market scholars to develop an agenda for accounting and governance research in frontier markets. It is our belief that the accounting profession will have to take a lead role in creating the standards needed to deal with issues unique to frontier nations and to create the transparency necessary to help stakeholders evaluate risk.

scholarly journals Operação Lava Jato: Impactos no Mercado Segurador de Responsabilidade Civil de Executivos

2021 ◽  
Vol 25 (2) ◽  
Author(s):  
Rafael Tonet Rensi ◽  
João Vinícius França Carvalho
Keyword(s):  
Insurance Coverage ◽  
Negative Relationship ◽  
Private Companies ◽  
Public And Private ◽  
Economic Agents ◽  
Probability Updating ◽  
Legal Context ◽  
Car Wash ◽  
Directors And Officers ◽  
The Relationship

ABSTRACT Context: triggered in 2014, the Car Wash Operation (CWO) belongs to a process of changing the legal context, in the sense of greater responsibility and penalization of public and private companies’ decision makers for acts practiced in the exercise of their functions, object of the Directors’ and Officers’ liability insurance coverage (D&O). Objective: to evaluate the relationship between the growth in the revenues of D&O insurance premiums and the developments of the OCW in Brazil, under the hypothesis of a change in the perception of economic agents exposed to risks covered by D&O insurance, in a process known as probability updating. Methods: official monthly data for all active insurers, arranged longitudinally between 2003 and 2017, and using two-stage regression method for panel data. Results: the OCW had a positive effect not only to the probability of offering this type of insurance, but also to increase the volume of D&O premiums; these results are consistent with the probability-updating hypothesis. Conclusion: the OCW resulted in an increase in revenues of D&O premiums, but there was a negative relationship between OCW and the entire insurance market, suggesting significance of this operation in the sector retraction observed since its outbreak.

scholarly journals A RESPONSABILIDADE ADMINISTRATIVA E CIVIL DE PESSOAS JURÍDICAS PELA PRÁTICA DE ATOS CONTRA A ADMINISTRAÇÃO PÚBLICA EM FACE DA LEI Nº 12.846/2013 “LEI ANTICORRUPÇÃO”

Percurso ◽  
2019 ◽  
Vol 2 (29) ◽  
pp. 240
Author(s):  
Horácio MONTESCHIO ◽  
Valéria Juliana Tortato MONTESCHIO ◽  
Giovana Zanete MONTESCHIO
Keyword(s):  
Strategic Planning ◽  
Public Administration ◽  
Legal Order ◽  
Business Practices ◽  
Private Companies ◽  
Public And Private ◽  
The Public ◽  
Administrative Control ◽  
The Relationship ◽  
Clear Objective

RESUMOCom a entrada em vigor da Lei nº 12.846/2013, também conhecida como Lei Anticorrupção, que entre os seus principais dispositivos buscam inovar o ordenamento jurídico pátrio ao disciplinar a responsabilidade administrativa e civil de pessoas jurídicas pela prática de atos contra a administração pública. A importância da legislação sobressai diante da busca de uma nova visão interpretativa e sancionatória com o claro objetivo de alcançar a redução da prática de atos de corrupção, tendo em vista que eliminar tão ignóbil e abjeta prática da realidade brasileira se mostra totalmente impossível. Em face do texto legal recentemente sancionado a Lei nº 12.846/13 passa a exigir que as empresas públicas e privadas venham a se adaptarem às inovações propostas. Como principal consequência da “Lei Anticorrupção” encontra se obrigatoriedade de implantação de mecanismos de prevenção e planejamento estratégico, a fim de monitorarem o relacionamento com a Administração Pública, com o intuito de evitar a aplicação das severas penalidades previstas. Por sua vez, os mecanismos inseridos na Lei anticorrupção tem o escopo de controlar as práticas empresariais, bem como consolidar a integridade das práticas de relacionamento entre as empresas, as quais permitirão alçar um novo patamar de cultura cidadã e ética no âmbito empresarial, que reverterá para toda a sociedade. PALAVRAS-CHAVE: Responsabilidade Civil e Administrativa; corrupção; complience; controle administrativo. ABSTRACT With the entry into force of Law No. 12,846 / 2013, also known as the Anti-Corruption Law, which among its main provisions seek to innovate the legal order of the country by disciplining the administrative and civil liability of legal entities for the practice of acts against the public administration. The importance of legislation stands out in the search for a new interpretive and sanctioning vision with the clear objective of achieving a reduction in the practice of acts of corruption, since eliminating such ignoble and abject practice of the Brazilian reality is totally impossible. In light of the recently enacted legal text, Law No. 12.846 / 13 requires that public and private companies adapt to the proposed innovations. As a main consequence of the "AntiCorruption Law", it is mandatory to implement prevention and strategic planning mechanisms in order to monitor the relationship with the Public Administration, in order to avoid the application of severe penalties. In turn, the mechanisms included in the Anti-Corruption Law have the scope to control business practices, as well as to consolidate the integrity of the relationship practices between companies, which will allow to raise a new level of citizen culture and ethics in the business sphere, which will revert for the whole society. KEYWORDS: Civil and Administrative Liability; corruption; complience; administrative control.

5. Raising capital: equity and its consequences

2016 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Stock Exchange ◽  
Listed Companies ◽  
Private Companies ◽  
Public And Private ◽  
Public Companies ◽  
The Public ◽  
Insider Dealing ◽  
The Uk ◽  
Takeover Bids

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter focuses on raising equity from the general public and its consequences for the operation of the company. It begins by outlining the basics of raising equity before turning to the consequences of operating in a public market, with emphasis on areas such as takeovers and insider dealing. It then considers the distinction between public and private companies in terms of capital raising, how such companies are regulated, and how public companies differ from listed companies. It also discusses various methods of raising money from the public, the role of the Financial Conduct Authority and the London Stock Exchange in ensuring the proper functioning of the listed market in the UK, and the regulation of listed companies as well as takeovers and other public offers. The chapter concludes by examining the Takeovers Directive (Directive 2004/25/EC of the European Parliament and of the Council of April 21, 2004 on Takeover Bids).

Effect of Company Characteristics on Human Resource Disclosure Index: Empirical Evidences from Indian Corporates

2019 ◽  
Vol 45 (1) ◽  
pp. 85-117 ◽  
Author(s):  
Kirti Aggarwal ◽  
Anju Verma
Keyword(s):  
Human Resource ◽  
Private Companies ◽  
Public And Private ◽  
Independent Variables ◽  
Industry Type ◽  
Research Article ◽  
Fixed Assets ◽  
Equity Ratio ◽  
Public And Private Sector ◽  
The Relationship

Purpose: The purpose of the present research article is to know the extent of Human Resource (HR) disclosure practices and effects of various independent variables on HR disclosure practices in selected Indian listed companies. Design/methodology/approach: Initially, Human Resource Disclosure Index (HRDI) of 91 items is constructed for 63 companies listed on the NSE-100 index. After that, the effect of various independent variables is analyzed on HRDI. Finally, independent variables are regressed with HRDI to find the important independent variables which influences the HRDI. The relationship between industry type and HR disclosure has been studied using one-way ANOVA and the comparison between public and private sector has been studied using the Mann–Whitney U test. Findings: The findings of the study show that net fixed assets, net sales, market capitalization, earnings per share (EPS), the debt–equity ratio and total number of pages of an annual report have a significant effect on HRDI. The remaining variables show insignificant association with HRDI. HRDI has been reported differently by different industries, while public and private companies do not differ in case of HR disclosure practices. Originality/value: This study provides the valuable information and contributes in existing literature. The HR disclosure index created in this study may be utilized by the companies as a benchmark to enhance their HR disclosure in future.

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