scholarly journals A practitioner’s research: Director remuneration in Ukraine

2006 ◽  
Vol 2 (2) ◽  
pp. 37-42
Author(s):  
Alexander N. Kostyuk
Keyword(s):  
Supervisory Board ◽  
Controversial Issue ◽  
Corporate Board ◽  
Factors Influencing ◽  
Supervisory Boards ◽  
Board Performance ◽  
Research Director

Remuneration of members of the supervisory boards in Ukrainian joint-stock companies is the most controversial issue of the corporate board practices. Despite the firm belief of the shareholders that the director remuneration is one of the most important factors influencing the board performance, there are still many companies (21 per cent) where directors are not remunerated for their work on the supervisory board. This report examines practices of the director’s remuneration in Ukraine.

scholarly journals Related-party disclosures in the two-tier board system in China: Influences of ownership structure and board composition

2008 ◽  
Vol 4 (1) ◽  
pp. 37-49 ◽  
Author(s):  
Yuan George Shan ◽  
Dennis W. Taylor
Keyword(s):  
Ownership Structure ◽  
Supervisory Board ◽  
Listed Companies ◽  
Annual Reports ◽  
Board Members ◽  
Corporate Board ◽  
High Concentration ◽  
Corporate Context ◽  
Supervisory Boards ◽  
Board System

This study concerns related-party disclosures by listed companies in China, in a corporate context of a high concentration of government-linked ownership, a two-tier board system, and the engagement of directors, key managers and major shareholders in direct and indirect transactions and business relationships with their company. Using content analysis of annual reports of listed companies in China over 5-years from 2001 to 2005, results show that the comprehensiveness of related-party disclosures is positively affected by companies’ domestic ownership concentration and the proportion of independent directors on the corporate board. But the proportion of supervisory board members with professional knowledge and experience is, unexpectedly, found to have a significant inverse relationship with the extent of related-party disclosure. Reasons peculiar to the context in China are proffered, particularly the likelihood of internal censorship of the more professionally qualified members of supervisory boards.

scholarly journals Corporate board composition in an emerging market

2007 ◽  
Vol 3 (3) ◽  
pp. 33-38
Author(s):  
Alexander N. Kostyuk
Keyword(s):  
Transition Economy ◽  
Negative Impact ◽  
Emerging Market ◽  
Supervisory Board ◽  
Board Members ◽  
Board Composition ◽  
Corporate Board ◽  
Second Stage ◽  
The Past ◽  
Supervisory Boards

The purpose of this research is to find the factors influencing composition of the supervisory boards in a transition economy with application to Ukraine. This paper is based on the research of 50 largest companies in Ukraine. Period of research is 1998-2005. Methodology of research is based on observations (the first stage) and questionnaires (the second stage). Experience of the supervisory board members in Ukraine is quite poor. Only 24 per cent of members of supervisory boards have a five and more year experience as supervisory board members. The supervisory board members had the strong links with the company in the past as executives. Thus, about 74 per cent of members of the supervisory boards in Ukraine worked as executives of the same company at least during a year for the last ten years. This makes the negative impact on the independence of the members of the supervisory boards. Value of this paper is that it explains an influence of a broad range of factors on the board composition in transition economy.

scholarly journals Self-and external evaluation of supervisory boards

2006 ◽  
Vol 2 (1) ◽  
pp. 23-32
Author(s):  
Martin Hilb
Keyword(s):  
Corporate Governance ◽  
Supervisory Board ◽  
External Evaluation ◽  
Evaluation Tools ◽  
Performance Reviews ◽  
Supervisory Boards ◽  
Board Performance

Objective, systematic and useful Supervisory Board performance reviews, both individually and collectively, are becoming more and more recommended by national corporate governance guidelines (as well as new EU recommendations). In this paper, the author portrays two evaluation tools which he has actually developed and implemented with success in Supervisory Boards.

scholarly journals The Kostyuk report: Corporate board practices in Ukraine

2005 ◽  
Vol 1 (1) ◽  
pp. 18-27 ◽  
Author(s):  
Alexander Kostyuk
Keyword(s):  
Board Of Directors ◽  
Supervisory Board ◽  
Low Frequency ◽  
Independent Directors ◽  
Corporate Board ◽  
Management Board ◽  
Rubber Stamp ◽  
The Board Of Directors ◽  
Supervisory Boards ◽  
Made In

The author reports on the corporate board practices in Ukraine. The roles of board of directors are mainly about control. The strategic and advisory roles are not developed. The mode of strategic involvement of the members of supervisory boards in Ukraine is mainly about reviewing and approving. Thus, the board of directors in Ukraine is "a rubber stamp". The degree of independence of directors is very low. Major board practices in Ukraine are: small number of independent directors on the board; low frequency of meeting of the board; small number of committees on the board; the management board influences the supervisory board. Board practices in Ukraine need a sort of recommendations, similar to those, made in UK at the end of 1990s, and at the start of the third millennium.

Does gender diversity in supervisory boards affect gender diversity in management boards in Germany? An empirical analysis

2021 ◽  
pp. 239700222199714
Author(s):  
Dennis Fleischer
Keyword(s):  
Fixed Effects ◽  
Structural Equation ◽  
Gender Diversity ◽  
Supervisory Board ◽  
Board Members ◽  
Governance System ◽  
Management Board ◽  
Supervisory Boards ◽  
Gender Quota ◽  
The Impact

Social aspects like gender diversity in the boardroom are becoming increasingly relevant and are a popular topic of public debate in the context of gender equality in business. However, there is little clarity about the potential spill-over effects of gender diversity. Both theory and empirical results have led to ambiguous conclusions with respect to the effect of gender diversity in the supervisory board on gender diversity in the management board. In addition, it is not clear whether the German gender quota legislation positively affects this relationship. This study analyses whether gender diversity in the supervisory board supports the gender diversity of the management board, and whether this relationship is affected by the gender quota legislation, focusing on the unique case of Germany. To cope with endogeneity concerns, this study employs a cross-lagged panel model with fixed effects using maximum likelihood structural equation modelling. The results of the analysis of the impact of the number of female supervisory board members on the number of female management board members do not support the view of positive spill-over effects of gender diversity in the environment of the German two-tier corporate governance system. Furthermore, this study finds no evidence of an effect of the German gender quota on this relationship. JEL Codes G38, M12, M14, M51

Geschäftsleiterbinnenhaftung in Großvereinen

2021 ◽  
Author(s):  
Anton Leopold Nußbaum
Keyword(s):  
Supervisory Board ◽  
Economic Importance ◽  
Board Members ◽  
Legal Practice ◽  
Corporate Board ◽  
Corporation Law ◽  
Common Interests ◽  
Practical Analysis ◽  
Stock Corporation

The internal liability of managers of large associations is becoming increasingly relevant in the context of their growing economic importance, especially considering the stricter compliance obligations. The book develops de lege lata with the help of corporate principles a liability regime for board members and association managers with and without corporate board positions that is in line with common interests. At the same time, the author uses a practical analysis of various association structures to indicate the problems that exist in the realization of liability and recommends de lege ferenda for a mandatory supervisory board for large associations based on the model of stock corporation law. The work addresses equally academics and legal practice as well as the associations themselves.

scholarly journals The Mechanism of Corporate Governance, Financial Performance, and Social Performance in Baitul Maal Wat Tamwil (BMT)

2020 ◽  
Vol 3 (1) ◽  
pp. 1-17
Author(s):  
Hasan Mukhibad ◽  
Akhmad Nurkhin
Keyword(s):  
Financial Performance ◽  
Significant Influence ◽  
Social Performance ◽  
Supervisory Board ◽  
Equation Model ◽  
Education Level ◽  
Structure Equation Model ◽  
Supervisory Boards ◽  
Observation Period

This study aimed to empirically prove the influence of the number and education level of managers, supervisory boards, Sharia Supervisory Board (SSB) and the attendance of Baitul Maal wat Tamwil (BMT) members (owners) in annual member meeting towards on profitability (ROA and ROE), and social performance (zakat performance). The research sample was BMT in Semarang Regency selected by purposive sampling method with an observation period from 2013 to 2017. Data analysis used the Structure Equation Model with the WarpPLS tool. The results showed that the number and education level of managers did not influence financial performance. The education level of the supervisory board had a significant influence on financial and social performance. The number and the education level of SSB changed financial performance, but the education level of SSB did not affect social performance. The Attendance of BMT members at the annual member meeting did not have a significant influence on BMT's financial and social performance improvement. These results indicated the minimal role of members in evaluating BMT performance, both profitability and social performance.

scholarly journals International Experts’ Influence on Company Internationalization

2021 ◽  
Vol 29 (4) ◽  
Author(s):  
Grygorii Kravchenko
Keyword(s):  
Stock Exchange ◽  
Random Effect ◽  
Supervisory Board ◽  
Generalized Least Squares ◽  
Foreign Ownership ◽  
Company Performance ◽  
Least Squares Regression ◽  
Foreign Markets ◽  
Supervisory Boards ◽  
International Experts

Purpose: The article evaluates the associative relationship between international supervisory board experts and foreign ownership, along with the experts’ influence on the financial and operating performance of firms. The study was based on data collected for 257 companies listed on the Warsaw Stock Exchange in 2010–2015. Methodology: The dataset was built as a panel, and then generalized least squares regression models with a fixed or random effect were employed to test hypotheses. Findings: The findings of the study clearly show that the presence of investigated firms in foreign markets positively affects company performance. Moreover, models with dependent variables ROA and ROS show that supervisory board members with foreign experience positively affect profitability indicators of firms that do not operate on foreign markets. The data analyses reveal that international experts are more effective advisors for companies that conduct no business activities on foreign markets. Furthermore, the results show a positive moderate association between the share of international experts in supervisory boards and the share of foreign ownership in the company. Originality: The article contributes to the understanding of determinants and consequences of the presence of international experts in supervisory boards and company internationalization.

Auswirkungen von Mehrfachmandaten deutscher Vorstands- und Aufsichtsratsvorsitzender auf den Unternehmenserfolg / The Impact of Multiple Board Memberships of CEOs and Chairmen of Supervisory Boards on Corporate Performance in Germany

2010 ◽  
Vol 230 (5) ◽  
Author(s):  
Benjamin Balsmeier ◽  
Achim Buchwald ◽  
Heiko Peters
Keyword(s):  
Panel Data ◽  
Corporate Performance ◽  
Supervisory Board ◽  
Data Set ◽  
Supervisory Boards ◽  
External Management ◽  
The Impact ◽  
Public Criticism

SummaryMembers of management boards as well as supervisory boards often attract public criticism when they are simultaneously active in several other boards. We use a panel data set of the biggest German corporations for the period from 1996-2006 to estimate the impact of multiple board memberships of the CEO and the chairman of the supervisory board on corporate performance. The results suggest a positive and inverse U-shaped relation between the number of external supervisory board seats of the CEO and corporate performance. Chairmen of supervisory boards who simultaneously serve on external management boards tend to improve the performance of the controlled firm. Further external supervisory board seats of the chairman of a supervisory board do not seem to have any influence on corporate performance, though.

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