Strange Bedfellows: Communist Party Institutions and New Governance Mechanisms in Chinese State Holding Corporations

2002 ◽  
Vol 4 (1) ◽  
pp. 91-115 ◽  
Author(s):  
Christopher A. McNally
Keyword(s):  
Corporate Governance ◽  
Communist Party ◽  
New Governance ◽  
Monitoring And Control ◽  
Managerial Performance ◽  
State Sector ◽  
Corporate Transparency ◽  
Control Functions ◽  
Corrosive Effect ◽  
And Control

Analyses of corporate governance problems in China's state sector have mainly focused on administrative interference from state agencies. So far the influence of Communist party institutions has received little attention. Although the influence of ideology has diminished greatly, the Chinese Communist party continues to monitor and control economic actors at every level of the state sector. This article shows that the institutional structure through which the party executes its monitoring and control functions has a corrosive effect on the day-to-day governance of the vast majority of state enterprises. The party's management structure aggravates the inadequate monitoring of managerial performance, weakens managerial incentives, and amplifies insufficient corporate transparency, thereby allowing state asset managers to carve out informal spheres of autonomy. These spheres of autonomy create opportunities for insider control, economic corruption, and the illicit privatization of state assets. Effective and sustainable privatization and corporate governance reforms in China's state sector will thus require the party to substantially diminish its authority over state sector executives.

scholarly journals Corporate Governance from a Cross-Country Perspective and a Comparison with Romania

2021 ◽  
Vol 14 (12) ◽  
pp. 600
Author(s):  
Bogdan Aurelian Mihail ◽  
Dalina Dumitrescu
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Stock Market Development ◽  
Corporate Transparency ◽  
Governance Indicators ◽  
Corporate Governance Codes ◽  
Country Analysis ◽  
Cross Country ◽  
Director Liability ◽  
And Control

This paper investigates corporate governance from a cross-country perspective and makes a comparison with Romania. There are studies that examine the corporate governance issues related to Romanian companies, but these studies provide only qualitative and descriptive accounts of the research topic, with limited cross-country analysis. The present paper complements the literature by producing a quantitative analysis of cross-country corporate governance and makes a comparison with Romania. For this purpose, a set of corporate governance indicators from a large sample of 39 advanced and developing countries was collected for the 2006–2020 period. In terms of corporate governance dimensions, it was found that Romania underperforms other developing countries in the dimensions of director liability and ownership and control, while it outperforms them in the dimensions of corporate transparency, disclosure, and shareholder rights. The results indicate that the stagnant corporate governance scores and the low development level of stock markets stand out as important business challenges for the country. The correlation and regression analyses show that stock market development is closely associated with corporate governance dimensions and, overall, corporate governance scores matter greatly for the economic growth of countries, such as Romania, which can benefit greatly from the improvement of corporate governance codes and practices in the private sector.

scholarly journals Suggestion of Design Evaluation Plan based on Star Life Cycle to introduce the Information Minimalism Concept of KOREA Nuclear Plant

2018 ◽  
Vol 170 ◽  
pp. 03003
Author(s):  
Gwi-sook Jang ◽  
Seung-min Lee ◽  
Gee-yong Park
Keyword(s):  
Life Cycle ◽  
Interface Design ◽  
Nuclear Power ◽  
Design Evaluation ◽  
Monitoring And Control ◽  
Evaluation Plan ◽  
Display Devices ◽  
Control Functions ◽  
Human Operators ◽  
And Control

The design of Korea Nuclear Power Plant (NPP) main control rooms (MCR) has been changed to be fully digitalized. Five or six display devices are assigned to each operator in NPP MCR to provide the information of safety parameter and plant status, and various control functions by connecting computerized control devices. Under this circumstance, the distributed displays can induce a dispersion of the operators’ attention and increase the workload while conducting monitoring and control tasks efficiently. In addition, to support human operators to reduce their workload and increase the performance, the concepts of the ecological interface design (EID) and the operator-centered design were applied to the design HMI display. However these designs are applied to a limited set of screens and did not differ largely from the traditional HMI design in that the layout of the information is somewhere similar to P&IDs. In this paper, we propose a design evaluation plan based on star life cycle to introduce the information minimalism concept for designing an HMI display.

scholarly journals A Microforecasting Module for Energy Management in Residential and Tertiary Buildings †

Energies ◽  
2019 ◽  
Vol 12 (6) ◽  
pp. 1006 ◽  
Author(s):  
Sergio Bruno ◽  
Gabriella Dellino ◽  
Massimo La Scala ◽  
Carlo Meloni
Keyword(s):  
Energy Management ◽  
Predictive Control ◽  
Moving Average ◽  
Hierarchical Control ◽  
Control Device ◽  
Small Scale ◽  
Monitoring And Control ◽  
Control Functions ◽  
The Right ◽  
And Control

The paper describes the methodology used for developing an electric load microforecasting module to be integrated in the Energy Management System (EMS) architecture designed and tested within the “Energy Router” (ER) project. This Italian R&D project is aimed at providing non-industrial active customers and prosumers with a monitoring and control device that would enable demand response through optimization of their own distributed energy resources (DERs). The optimal control of resources is organized with a hierarchical control structure and performed in two stages. A cloud-based computation platform provides global control functions based on model predictive control whereas a closed-loop local device manages actual monitoring and control of field components. In this architecture, load forecasts on a small scale (a single residential or tertiary building) are needed as inputs of the predictive control problem. The microforecasting module aimed at providing such inputs was designed to be flexible, adaptive, and able to treat data with low time resolution. The module includes alternative forecasting techniques, such as autoregressive integrated moving average (ARIMA), neural networks, and exponential smoothing, allowing the application of the right forecasting strategy each time. The presented test results are based on a dataset acquired during a monitoring campaign in two pilot systems, installed during the ER Project in public buildings.

scholarly journals 2.1. USING TAKSONOMY XBRL IN ACCOUNTING, ANALYTICAL AND CONTROL PROCEDURES

2020 ◽  
Author(s):  
К.Ю. Бурцева
Keyword(s):  
Financial Reporting ◽  
Internal Control ◽  
Monitoring And Control ◽  
Business Reporting ◽  
Foreign Companies ◽  
Control Functions ◽  
Control Procedures ◽  
Management Policies ◽  
Internal Standardization ◽  
And Control

В исследовании изучены возможности применения технологий XBRL в учетном, аналитическом и контрольном инструментарии. Спецификации XBRL предоставляют собой технические аспекты создания документов для применения их пользователями в Интернете, также таксономии XRBL могут использоваться для улучшения функций и аппарата контроля, на их основе представляется возможным создание комплексной системы контроля, функционирующей на всех уровнях иерархии организации и во всех сферах ответственности. В статье изучены возможности применения технологий XBRL в различных аспектах деятельности организации. Исследован опыт компании Fujitsu, внедрившей XBRL во многих филиалах своей компании по всему миру, используя XML и XBRL для собственной внутренней стандартизации и отчетности. Выделены преимущества применения XBRL для целей документирования и представления информации о внутреннем контроле. Предложено использовать опыт зарубежных компаний для повышения прозрачности отчетности, эффективности мониторинга аспектов управления и контроля, также рекомендовано разрабатывать и внедрять таксономию XBRL корпоративного управления, которая согласуется с таксономиями финансовой отчетности для сбора нефинансовой информации о компании, касающейся политики управления, прав и обязанностей акционеров, информации о директорах. Стандартизация бизнес-отчетности с применением технологий XBRL поможет обеспечить прозрачность для инвесторов и кредиторов, облегчая функций мониторинга и контроля для регуляторных и надзорных органов. The study examined the possibilities of using XBRL technologies in accounting, analytical and control tools. XBRL specifications provide the technical aspects of creating documents for use by users on the Internet, XRBL taxonomies can also be used to improve control functions, it seems possible to create a comprehensive control system that operates at all levels of the organization hierarchy and in all areas of responsibility. The article explores the possibilities of using XBRL technology in various aspects of the organization. The experience of Fujitsu, which has implemented XBRL in many branches of its company around the world, using XML and XBRL for its own internal standardization and reporting, is examined. The advantages of using XBRL for documenting and reporting internal control information are highlighted. It is proposed to use the experience of foreign companies to increase transparency of reporting, monitor the effectiveness of management and control aspects, it is also recommended to develop and implement a corporate governance XBRL taxonomy, which is consistent with the taxonomy of financial reporting to collect non-financial information about the company regarding management policies, rights and obligations of shareholders, information about directors. Standardizing business reporting with XBRL technology will help ensure transparency for investors and lenders by facilitating monitoring and control functions for regulators and supervisors.

scholarly journals Governance Evaluation of Listed Mining Companies Based on Entropy Method

2021 ◽  
Vol 251 ◽  
pp. 01117
Author(s):  
Shi Yufang ◽  
Huang Wanli
Keyword(s):  
Corporate Governance ◽  
Mining Industry ◽  
Governance Structure ◽  
Entropy Method ◽  
Corporate Governance Structure ◽  
The Sustainable Development ◽  
Mining Companies ◽  
Control Functions ◽  
And Control ◽  
A Company

Corporate governance is the basis for correct decision-making and effective management of a company. The sustainable development of a company will depend to a large extent on an effective and reasonable corporate governance structure. The mining industry occupies a fundamental position in China’s national economy and plays a very important role. In view of the particularity and importance of the mining industry, this article is based on the research theory of corporate governance, combined with the characteristics of mining companies, and uses the entropy method to conduct targeted and objective corporate governance evaluations. The research concluded that: (1) When the company is in a state of concentrated equity, the incentive and supervision measures adopted for the managers play an obvious role. (2) The larger the independent board of directors, the higher the effectiveness of corporate governance. (3) The larger the board of supervisors, the more meetings, and the more effective corporate governance, the more it can give full play to its supervision and control functions.

scholarly journals The principles of the corporate governance in banks and legislation of Republic of Serbia

2020 ◽  
Vol 37 (3) ◽  
pp. 13-26
Author(s):  
Nevena Jolović ◽  
Marijana Dukić-Mijatović
Keyword(s):  
Corporate Governance ◽  
Financial Institutions ◽  
Banking Sector ◽  
Regulatory Framework ◽  
International Governance ◽  
Control Functions ◽  
Corporate Governance Mechanisms ◽  
Analysis And Synthesis ◽  
And Control ◽  
Descriptive Method

Complex relations, a frequent separation of ownership, management, and control functions in banks, as well as turbulent and changeable market conditions make responsible, fair, and transparent corporate governance mechanisms extremely important for these financial institutions. "the culture" of the corporate governance is incorporated into the banking sector of Republic of Serbia and it is based on the national legislation and international governance standards. The aim of the research is to analyze the level of the implementation of international principles of corporate governance in the Serbian banking sector and to assess the adequacy and strength of the national legal and regulatory framework to enable and support such an act. The descriptive method, an analysis and synthesis technique, as well as the analysis of the content of laws, reports, and available national and foreign literature in the field of corporate governance, were used for the preparation of this paper. The result of the research implies the confirmed assumption that the legal and regulatory framework of corporate governance in the banking sector of Republic of Serbia makes the implementation of the international principles of corporate governance possible and sufficiently supports it.

scholarly journals Metacognition and reasoning

2012 ◽  
Vol 367 (1594) ◽  
pp. 1366-1378 ◽  
Author(s):  
Logan Fletcher ◽  
Peter Carruthers
Keyword(s):  
Decision Making ◽  
Cognitive Architecture ◽  
Management Strategies ◽  
Self Management ◽  
Cultural Learning ◽  
Monitoring And Control ◽  
Control Functions ◽  
And Control

This article considers the cognitive architecture of human meta-reasoning: that is, metacognition concerning one's own reasoning and decision-making. The view we defend is that meta-reasoning is a cobbled-together skill comprising diverse self-management strategies acquired through individual and cultural learning. These approximate the monitoring-and-control functions of a postulated adaptive system for metacognition by recruiting mechanisms that were designed for quite other purposes.

scholarly journals Do operational risk and corporate governance affect the banking industry of Pakistan?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Komal Altaf ◽  
Huma Ayub ◽  
Malik Shahzad Shabbir ◽  
Muhammad Usman
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Commercial Banks ◽  
Operational Risk ◽  
Primary Data ◽  
Monitoring And Control ◽  
Content Type ◽  
Operational Risk Management ◽  
And Control ◽  
The Impact

PurposeDue to increase in operational risk, banks are facing huge losses. In order to avoid losses, banks need to manage operational risk. This study aims to analyze the impact of operational risk management (ORM) processes, which include identification, assessment, analysis, monitoring and control in the presence of corporate governance (CG) that can also contribute to effective ORM practices.Design/methodology/approachOperational risk management processes are used to manage operational risk along with CG. Primary data are collected through questionnaire from (167) operational risk managers of commercial banks. Multiple linear regressions has been run to analyze the data.FindingsResults indicate significant impact of CG and operational risk identification (ORI), monitoring and control on ORM practices in commercial banks of Pakistan.Originality/valueThe study suggests policy makers to improve the ORM framework by CG. Beside this, in order to lessen operational risk, proper identification, monitoring and control of operational risk could also contribute.

scholarly journals The problem of incentives in building corporate governance models

2008 ◽  
Vol 5 (2) ◽  
pp. 352-359
Author(s):  
Joaquim Rubens Fontes-Filho ◽  
Moisés Balassiano
Keyword(s):  
Corporate Governance ◽  
Agency Theory ◽  
Financial Incentive ◽  
Human Resources Management ◽  
Monitoring And Control ◽  
Governance Practices ◽  
Monitoring And Control Systems ◽  
Income Sharing ◽  
And Control ◽  
Economic Outlook

The attempt to align interests of executives with those of shareholders has been addressed in the corporate governance context from a predominantly economic outlook based on the agency theory. The models that combine monitoring and control systems in association with financial incentive mechanisms, such as profit and income sharing, stock options, bonds and other benefits, consider an individual to be individualist, opportunist and self-interested, diverging from the assumptions of other theories and contemporary ideas in the area of human resources management. Based on the criticism related to the agency theory, particularly when drawing up incentive schemes, this article aims to look at alternative theories to build corporate governance practices that include considerations on extrinsic and intrinsic motivation of agents.

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