scholarly journals Duality of roles and corporate governance in Greece

2009 ◽  
Vol 5 (1) ◽  
pp. 15-21 ◽  
Author(s):  
Themistokles Lazarides
Keyword(s):  
Corporate Governance ◽  
Good Practice ◽  
Balance Of Power ◽  
Ownership Concentration ◽  
Probit Regression ◽  
Power And Control ◽  
Organizational Stability ◽  
The Board Of Directors ◽  
And Control

Duality of the role of President of the Board of Directors (BoD) and CEO has been regarded as a good practice of corporate governance. These two roles are the ones with the most power an authority within the corporation. The paper depicts the formulating factors of duality of roles in Greece. Literature has linked duality with performance, organizational stability, ownership concentration and balance of power and control within the firm. The paper, using a Probit regression analysis, examines whether these relationships are valid in Greece. Statistical – econometric analysis has shown that financial performance is not related with concentration of power and control. The same conclusion is can be drawn for ownership concentration. There is a trend of change but this trend hasn’t the same dynamic or driving factors as the ones that are reported by Kirkbride and Letza (2002) and Muth and Donaldson (1998). The hypothesis posed by Heracleous (2001) and Baliga, 6oyer and Rao (1996) are more likely to be true in the case of Greece. Overall, duality in Greece is affected by the historical development of the firm, its organizational scheme and even more by the balance of power and control within the firm.

The scantness of the effect of corporate governance mechanisms on executive directors’ remuneration in small listed companies: evidence from Malaysia

2018 ◽  
Vol 14 (4) ◽  
pp. 934-949
Author(s):  
Husna Siraji Nyambia ◽  
Hamdino Hamdan
Keyword(s):  
Corporate Governance ◽  
Small Firms ◽  
Independent Directors ◽  
Executive Directors ◽  
Content Type ◽  
Power And Control ◽  
Executive Remuneration ◽  
The Family ◽  
One Year ◽  
And Control

Purpose This study extensively aims to investigate the effects of different aspects of corporate governance (CG) mechanism, including board size, executive directors’ shareholdings, Chief Executive Officer (CEO) duality, a family member as the CEO and/or chairperson of the board, independent directors in remuneration committee and number of board meeting, on executive directors’ remuneration in small firms listed on Bursa Malaysia (BM). Design/methodology/approach The sample of this study consists of 173 bottom-listed companies from Bursa Malaysia in Year 2010. The Year 2010 was chosen because the disclosure of remuneration committee activities and directors’ pay structure is required under the revised Malaysia Code of Corporate Governance, 2007. Furthermore, the period selected is after the global economic crisis (2008), which may have an effect on the remuneration structure in small firms. The ordinary least squares regression was used to estimate the relationship between remuneration as dependent variable and other independent variables. Findings A finding from this study reveals that there is a significant positive relationship between executive ownership and executive remuneration, and between board size and executive remuneration. The results provide evidence that the family members manipulate power and control remuneration in small firms. This indicates that the independent directors are not truly independent to monitor and control the firm activities, including minimizing the excessive remuneration. Research limitations/implications This study examines how the corporate governance (CG) affects remuneration among 173 small firms in Malaysia based on market capitalization, for one year, 2010. Hence, the results may not be generalizable to other periods or types of the companies. This shows the possibility of the absence of some additional variables in the research model and hence a limitation to the findings of the study. Although the study is being parsimonious in the choice of relevant variables, prior literature serves the guide in the selection of the used variables. This therefore gives room for future research using the potential omitted variables. Furthermore, the study focuses on total remuneration, such as fees, salaries, bonuses and benefits in kind, which makes aggregate directors’ remuneration. However, this study did not consider the remuneration related to stock options. Finally, this study only uses secondary data; hence, it could be interesting to use other instruments to collect data like a questionnaire to add more weight to the research. This study only uses one-year data; therefore, impact of changes between years cannot be analysed. Originality/value Results of the study provide evidence that the family members manipulate power and control remuneration in small firms. They reduce the effectiveness of non-executive directors because most of them are appointed by a family member and not socially responsible to their stakeholders.

scholarly journals Frontline Responses to Domestic Abuse in Scotland

2021 ◽  
pp. 239-256
Author(s):  
Ruth Friskney ◽  
Oona Brooks-Hay ◽  
Michele Burman
Keyword(s):  
Gold Standard ◽  
Domestic Abuse ◽  
Third Sector ◽  
Data Sources ◽  
Gender Inequalities ◽  
Power And Control ◽  
Agency Risk ◽  
Partnership Approach ◽  
And Control

Scotland's progress in tackling domestic abuse is recognised for the gendered analysis which underpins it. This gendered analysis recognises structural gender inequalities as the context in which domestic abuse occurs, enabling more effective targeting of resources for prevention and response. The Domestic Abuse (Scotland) Act 2018, described as a 'gold standard' in legislation to tackle domestic abuse, draws on the gendered concept of coercive control. The Act seeks to recognise in law the nature of domestic abuse not as isolated incidents but rather as an ongoing exercise of power and control by the perpetrator, using various tactics. In this chapter, we describe what is known about domestic abuse in Scotland, the strengths and weaknesses of different data sources in capturing the gendered nature of domestic abuse and the reality of how victim-survivors experience it. We consider the multi-agency structures, in particular Multi-Agency Risk Assessment Conferences and Multi-Agency Tasking and Coordinating groups, which support Scotland's partnership approach in the front-line response to domestic abuse, recognising the crucial role of feminist third sector agencies alongside statutory agencies such as police, health, social work, and housing.

scholarly journals Downward wage rigidity in American technology firms

2018 ◽  
Vol 15 (4-1) ◽  
pp. 181-190
Author(s):  
Xiaoying Chen ◽  
Jasmine Yur-Austin
Keyword(s):  
Corporate Governance ◽  
Pay For Performance ◽  
Business Leaders ◽  
Wage Rigidity ◽  
Venture Capitalists ◽  
Technology Firms ◽  
Corporate Governance Mechanisms ◽  
And Control ◽  
Dot Com

This study reviews the role of various corporate governance mechanisms to pay for performance in American technology firms. Compared to traditional business leaders, CEOs in technology firms possess stronger power for negotiating with shareholders; such power theoretically lowers the chance of interest conflicts between management and control but may increase CEOs’ wage rigidity during business downturns, especially in firms with poor corporate governance. We evaluate ownership structure; board composition; and the existence of independent compensation committees throughout the dot-com bubble and bubble-burst periods. We aim to examine during the business downturn period whether these CEOs cut their compensation effectively or exercise their negotiation power to protect their own benefit. Our empirical results provide strong evidence that given poor firm performance, CEOs with weak corporate governance negotiate higher cash-based pay rather than reduce their compensations. However, we find that venture capitalists play an important role in monitoring CEOs and revising compensation.

scholarly journals Foreign Shareholdings Impact on Banks Efficiency and Moderating Role of Corporate Governance

2019 ◽  
Vol 8 (2S9) ◽  
pp. 414-425
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Country Of Origin ◽  
Developed Countries ◽  
Moderating Effect ◽  
Due Diligence ◽  
The Board Of Directors ◽  
The Impact ◽  
Moderating Role

The research investigate the impact of foreign shareholding originated from developed and developing countries on the efficiency of acquired local banks in Indonesia during 2007-2017 by including Corporate Governance as a moderating variable. Methodology: Using the secondary aggregate data of 29 commercial banks acquired by foreign shareholders, a panel regression model using econometrics methods of GLS, and DEA were applied to examine the effects of percentage of foreign shareholdings on efficiency of the acquired local banks. The main findings; First, percentage of foreign shareholdings positively affecting efficiency of acquired local banks only if the foreign shareholders is originated from developed countries. Second, the level of economic advancement of the country of origin of foreign shareholders has significant effects on the efficiency of the acquired local banks. Third, the increase in the size of the Board of Directors tends to decrease the efficiency of the acquired local banks and fourth, the presence of Foreign Director has a positive moderating effect on strengthening the effect of percentage of foreign shareholdings on the efficiency of the acquired local banks. Overall, the originality of this studies is that the percentage of foreign shareholdings and its country of origin are two combined factors that cannot be separated in affecting the level of efficiency of its acquired local bank and the fact of significant positive moderating effect of Foreign Director. As policy consideration, monetary authority need to perform strict due diligence on prospective foreign shareholders specifically originated from developing countries, advise banks to maintain the existence of Foreign Director and to encourage small local banks to be merged prior to the acquisition by foreign shareholders.

6. Company Management and Governance

2020 ◽  
pp. 100-120
Author(s):  
Imogen Moore
Keyword(s):  
Corporate Governance ◽  
Institutional Investors ◽  
Executive Directors ◽  
Corporate Governance Code ◽  
Executive Remuneration ◽  
Questions And Answers ◽  
The Uk ◽  
And Control ◽  
The Relationship

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter explores important issues in company management and corporate governance, starting by examining the role of directors and shareholders (and the relationship between them) and the separation of ‘ownership and control’. Since the early 1990s, the governance of listed companies has been dominated by self-regulatory codes (currently the UK Corporate Governance Code). This chapter examines how these codes operate and considers key themes in corporate governance, including the role of non-executive directors and auditors; the position of institutional investors; and executive remuneration.

Madingley, Madding, Mad scenarios: an exercise in futurology

2000 ◽  
Vol 89 (03) ◽  
pp. 146-149
Author(s):  
D Eskinazi
Keyword(s):  
Driving Forces ◽  
Power And Control ◽  
The Future ◽  
Medical Approach ◽  
And Control ◽  
Changing World

AbstractThe Madingley scenarios were created to suggest potential contrasting futures (around year 2020) that could develop from the same driving forces. Those contrasting futures are named ‘Trust their Guidance’ and ‘Find my Way’, respectively. Trust their Guidance depicts a world where institutions have succeeded in adapting to the changing world and have strengthened their power and control on nations. Find my Way depicts a world where empowered individuals have taken responsibility for optimising their own lives. The discussion of these scenarios raised a number of questions including the purpose and role of governments, differences between societies, fundamental vs superficial change and, applied to the area of homeopathy, the role and responsibility of the homeopathic community in shaping the future of this medical approach.

Corporate Governance: Principles and Objectives

1998 ◽  
Vol 2 (2) ◽  
pp. 18-22
Author(s):  
N. Vittal
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Financial Institutions ◽  
Code Of Conduct ◽  
Ethical Values ◽  
Good Corporate Governance ◽  
The Board Of Directors ◽  
Fundamental Value ◽  
The Government

Corporate Governance provides the fundamental value framework for the culture of an organisation which ensures efficient functioning of enterprises on sound ethical values and principles. Corporate governance has become a necessity, especially since 1991, when India made a U-turn in its economic policy and the revised policy of the government was aimed at attracting funds from foreign financial institutions. The primary resonsibiity of good corporate governance is that of the Board of Directors. For better corporate governance the boards should perform the role of monitoring the functioning of an organisation, without at the same time reducing the effectiveness of the management by interfering with their day-to-day matters. One of the impediments in the way of good corporate governance is corruption. The three factors within any system which generate corruption are: scarcity, lack of transparency and delay. If these three problems are tackled effectively, corruption can be checked to a great extent. As far as public sector undertakings are concerned, the “Code of Conduct and Ethics” should facilitate the redesigning of the PSEs.

scholarly journals Editorial: Scholarly communications and corporate governance research

2019 ◽  
Vol 17 (1) ◽  
pp. 162-164
Author(s):  
Alexander Kostyuk
Keyword(s):  
Corporate Governance ◽  
American Economic Review ◽  
Theory And Practice ◽  
Final Approval ◽  
Critical Commentary ◽  
Scholarly Communications ◽  
The Mean ◽  
And Control ◽  
To Receive

The role of scholarly conferences as a method of scholarly communications cannot be overestimated. Thus, Torgler and Piatti (2013) found that in 1974, only 19 per cent of papers published in American Economic Review had been presented at one or more conferences, workshops or seminars, for critical commentary prior to publication. On average, the number of presentations was 0.24 per paper. Twenty-five years later, 73 percent of the papers accepted for publication have been previously presented, and the mean number of pre-publication presentations was 4.73. Personal editorial and reviewing experience give a right to conclude that papers previously presented at the conferences have more serious scholarly content, solid empirical fundamentals and relevance. Scholarly journal reviewers are more favourable about such papers and it takes less time to receive the final approval of the reviewers for further publishing. Discussing the papers in an open manner at the conferences is welcome both by the authors of the papers as well as the commenting scholars adding more enthusiasm for further research. International conference "New Challenges in Corporate Governance: Theory and Practice"1 took place in Naples on October 3-4, 2019.2 About 80 experts from America, Europe, Asia, Africa and Oceania gathered at the conference venue to discuss relevant issues of corporate governance, ownership and control, share their most recent research and come up with the solutions of the existing corporate governance research.

scholarly journals Editorial: Fundamental pillars of corporate governance research

2020 ◽  
Vol 18 (1, Special Issue) ◽  
pp. 222-224
Author(s):  
Paolo Tenuta ◽  
Alexander Kostyuk
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Stock Market ◽  
Earnings Management ◽  
Board Of Directors ◽  
Financial Reporting ◽  
Corporate Ownership ◽  
Special Issue ◽  
The Board Of Directors ◽  
And Control

Corporate governance is a system designed to improve corporate performance through supervision of management performance to ensure accountability to stakeholders based on a regulatory framework. Board of directors as a field of research becomes a major point for intersection of many other issues of corporate governance, such as financial reporting, firm performance, earnings management, stock market, and reaching even well-established fields of research such as accounting and finance. Most of the papers published in this issue (volume 18, issue 1, special issue) of the Corporate Ownership and Control journal are linked to the board of directors’ issues directly or indirectly.

Sign in / Sign up

Export Citation Format

Share Document