scholarly journals Board of directors specificities in the context of Portuguese corporate governance and corporate law

2019 ◽  
Vol 1 (1) ◽  
pp. 41-57 ◽  
Author(s):  
Elisabete Vieira ◽  
Joaquim Neiva
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Board Of Directors ◽  
Corporate Law ◽  
Positive Relation ◽  
Listed Firms ◽  
The World ◽  
The Board Of Directors ◽  
The Relationship ◽  
State Of Art

The corporate governance is a mechanism to protect investors in the markets around the world. This study analyses the board of directors’ specificities in the context of Portuguese Corporate Governance, and study the corporate governance effect of Portuguese listed firms on firm performance. The results show that the Latin Model (Two-Tier Model) is the most (least) adopted by Portuguese firms. The percentage of executive members is higher than that of non-executive members. In the year of 2014, women held only 9.5% of positions on board, which is very low. The results concerning the relationship between corporate governance and firms’ performance are not consensual. Although some studies find evidence of a positive relation between the two variables, others find no relationship. With this study, we contribute to the state of art of corporate governance in a country which investigation is still scarce.

scholarly journals The Relationship and Impact between Board of Director Criteria towards Firm Performance for Companies Listed on Bursa Malaysia: Trading and Services Sector

2017 ◽  
Vol 3 (1) ◽  
pp. 51-59
Author(s):  
Noorul Farha Mohd Jumali ◽  
Mohd Abdullah Jusoh ◽  
Syed Ismail Syed Mohamad
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Board Of Directors ◽  
Company Performance ◽  
Tobin’S Q ◽  
Governance Mechanism ◽  
Tobin's Q ◽  
Services Sector ◽  
The Board Of Directors ◽  
The Relationship

This research aims to investigate the relationship and impact between the board of directors criteria towards the company's performance. We hypothesized that the board of the directors criteria will increase the firm performance since board of the directors are viewed as one of the corporate governance mechanism that should be effective in monitoring and advice the management to protect the interest of shareholders. In this study, analysis of panel data has been used. The company's performance was measured by Return on Assets (ROA) and Tobin's Q. Using 159 listed firms in Trading and Services Sector from 2007 to 2013, our study exhibit that the size of the board of directors (BODSIZE) had significant and positive relationship on ROA and Tobin's Q. This shows when BODSIZE increases, the performance of the company will also increase. Next, CEO duality and independent board of directors (PERBODIND) had no significant relationship with ROA and Tobin's Q. Overall, good corporate governance is important to improve the company’s performance. The implication of this study is that it may affect various parties and include investors, financial institutions, academia, corporations, and governments in making judgments, decisions or improvements to corporate governance and company performance.

scholarly journals Board of directors, performance and firm value in Brazilian listed state-owned enterprises

2020 ◽  
Vol 18 (2) ◽  
pp. 1
Author(s):  
Carolina Coletta ◽  
Roberto Arruda de Souza Lima
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Board Of Directors ◽  
Firm Value ◽  
Board Structure ◽  
Agency Conflicts ◽  
Governance Practices ◽  
The Board Of Directors ◽  
Structure Index ◽  
Corporate Governance Practice

<p>This paper investigates the relationship between the board of directors' structure and firm performance and the value of Brazilian listed state-owned enterprises (SOEs), from 2002 to 2017, totaling 327 observations using an unbalanced panel data with fixed and random effects regressions. The evolution of corporate governance practices adopted by the boards is presented for this period, using a Board Structure Index (BSI). The results indicate a significant positive relation between the board's structure and firm performance, measured by ROE and ROA, and firm value, measured by Tobin's <em>q</em>. These findings are consistent with corporate governance literature, in the sense that the board's role of monitoring management reduces agency conflicts. The results also show an improvement in adopting corporate governance practice on Brazilian SOEs' boards over the last decade.</p>

scholarly journals Implementing the board of directors’ mechanism – An empirical study of the listed firms in Libya

2018 ◽  
Vol 14 (1) ◽  
pp. 22-33 ◽  
Author(s):  
Jill Atkins ◽  
Mohamed Zakari ◽  
Ismail Elshahoubi
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Listed Companies ◽  
Board Members ◽  
Corporate Boards ◽  
Listed Firms ◽  
Stakeholder Groups ◽  
The Board Of Directors ◽  
Executive Managers

This paper aims to investigate the extent to which board of directors’ mechanism is implemented in Libyan listed companies. This includes a consideration of composition, duties and responsibilities of the board directors. This study employed a questionnaire survey to collect required data from four key stakeholder groups: Boards of Directors (BD), Executive Managers (EM), Regulators and External Auditors (RE) and Other Stakeholders (OS). The results of this study provided evidence that Libyan listed companies generally comply with the Libyan Corporate Governance Code (LCGC) requirements regarding the board composition: the findings assert that most boards have between three and eleven members, the majority of whom are non-executives and at least two or one-third of whom (whichever is greater) are independent. Moreover, the results indicate that general assemblies in Libyan listed companies are practically committed to the LCGC’s requirements regarding the appointment of board members and their length of tenure. The findings provide evidence that boards in Libyan listed companies are carrying out their duties and responsibilities in accordance with internal regulations and laws, as well as the stipulations of the LCGC (2007). Furthermore, the stakeholder groups were broadly satisfied that board members are devoting sufficient time and effort to discharge these duties and responsibilities properly. This study helps to enrich our understanding and knowledge of the current practice of corporate boards as a significant mechanism of corporate governance (CG) by being the first to address the board of directors’ mechanism in Libyan listed companies.

The Effect of Company Size on the Relationship between Corporate Governance and Corporate Performance in the Iraqi Stock Exchange

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Ghazwan Al-Shiblawi ◽  
Dalal Mahdi ◽  
Mohammed Mahdi
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Significant Relationship ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Company Size ◽  
Statistical Population ◽  
The Board Of Directors ◽  
The Relationship

The aim of the present study is to assess The Effect of Company Size on the Relationship between Corporate Governance and Corporate Performance in the Iraqi Stock Exchange. The statistical population under study is listed companies of  Iraq Stock Exchange and the number of companies studied in Iraq is 35, from 2015-2019. The results concluded that there is a statistically significant relationship between the change (increase) of institutional ownership and the performance of the company, and this relationship is direct, as well as the relationship between the change (increase) of institutional ownership and the performance of the company. It can change under the influence of the company's size, and this relationship is negative, meaning the larger the company's size, the weaker the relationship. At the same time, the existence of a relationship between changing the composition of the members of the Board of Directors and the performance of the company was not supported, as well as between changing (increasing) the independence of the Board of Directors and the performance of the company, in addition to the relationship between changing the composition of the Board of Directors. The independence of the Board of Directors and the performance of the company is not affected by the change in the size of the company

Culture and Law in Corporate Governance

2015 ◽  
Author(s):  
Amir N. Licht
Keyword(s):  
Corporate Governance ◽  
Executive Compensation ◽  
Cultural Analysis ◽  
Corporate Law ◽  
Cultural Dimensions ◽  
Dividend Distribution ◽  
The Board Of Directors ◽  
Research Findings ◽  
Corporate Social ◽  
The Relationship

This chapter explores the relationship between culture and law, especially corporate law, and its implications for corporate governance. It begins with an overview of the basic concepts in cultural analysis as well as prevalent theories of cultural dimensions and of social networks as social capital. It then summarizes research findings regarding the consequences of culture for corporate governance on issues ranging from executive compensation to legal transplants and the objectives of the corporation (corporate social responsibility). It also discusses relations with investors and other stakeholders by way of disclosure and dividend distribution, along with the operation, composition, and network structure of the board of directors. Finally, the chapter considers how the relationship between culture and law affects diversity and persistence in corporate governance.

A Behavioral Perspective on Corporate Law and Corporate Governance

2015 ◽  
Author(s):  
Jaap Winter
Keyword(s):  
Corporate Governance ◽  
Executive Compensation ◽  
Board Of Directors ◽  
Corporate Law ◽  
The Core ◽  
Compensation Systems ◽  
The Board Of Directors ◽  
Performance Based Pay ◽  
Rule Making ◽  
Behavioral Perspective

This chapter examines corporate law and governance from a behavioral perspective. It begins with an overview of the growing body of behavioral knowledge and its impact on the core assumptions of the agency theory. It then goes on to consider a number of specific areas of corporate law and governance where behavioral perspectives are particularly relevant, with particular emphasis on rule making. The chapter also explores how the board of directors performs, along with modern executive compensation systems, often in the form of performance-based pay. Finally, the chapter turns to the interaction between executives, non-executives, and (institutional) investors in corporate governance.

scholarly journals PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP KINERJA KEUANGAN PERUSAHAAN KELUARGA DI INDONESIA

2020 ◽  
Vol 10 (1) ◽  
pp. 1
Author(s):  
Adhitya Rechandy Christian Santoso
Keyword(s):  
Corporate Governance ◽  
Data Analysis ◽  
Board Of Directors ◽  
Sampling Method ◽  
Stock Exchange ◽  
Return On Assets ◽  
The Board Of Directors ◽  
Relationship Of ◽  
The Relationship ◽  
Positive Effect

This study discusses the application of corporate governance to the performance of family companies in Indonesia. The relationship of corporate governance in this study was proxied with an independent board of commissioners, the size of the board of directors, and the size of the audit board. The measurement of the financial performance of this study uses Return On Assets (ROA) with a sample of research companies listed on the Indonesia Stock Exchange in the 2014-2018 period.The sampling method in this study uses purposive sampling and data analysis using multiple linear regression with the help of SPSS 21.The results of data analysis, the proportion of independent commissioners and the size of the board of directors had a significant positive effect on the variable size of the audit board not having a significant effect.

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.

Relationship between Corporate Governance Index and Firm Performance: Indian Evidence

2018 ◽  
Vol 19 (3) ◽  
pp. 675-689 ◽  
Author(s):  
Akshita Arora ◽  
Shernaz Bodhanwala
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Performance Metrics ◽  
Market Competition ◽  
Board Structure ◽  
Data Set ◽  
Listed Firms ◽  
Market For Corporate Control ◽  
Governance Index ◽  
The Relationship

The Indian corporate governance norms have been evolving over a period of time but limited number of studies have been undertaken with reference to corporate governance index (CGI) in the Indian context. The study aims to examine the relationship between CGI and firm performance. We construct CGI using important parameters of governance such as board structure, ownership structure, market for corporate control and market competition. Our panel data set comprises of listed firms and the estimation analysis has been carried out using random effects method. The study reveals significant positive relationship between CGI and firm performance metrics. CGI is an important and causal factor in explaining firm performance. The investors would also have positive perception about business firms maintaining high governance standards, thus reducing possible funding costs.

scholarly journals Corporate governance and firm performance: New evidence from Brazil

2011 ◽  
Vol 8 (4) ◽  
pp. 527-531
Author(s):  
Mariana Vieira ◽  
Andre Carvalhal da Silva ◽  
Otavio Figueiredo
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Positive Relation ◽  
Academic Literature ◽  
Future Performance ◽  
Quality Of Governance ◽  
And Performance ◽  
New Evidence ◽  
The Relationship

The relationship between governance and firm performance has been vastly studied in the academic literature. Although most studies indicate a positive relation between governance and performance, this result is not clear and conclusive to many experts. This paper uses a new methodology to analyze the relation between governance and performance. We compute the change in the quality of governance and classify the firms into three groups (positive, neutral and negative variation). Then we calculate the current and future performance for each group and check if there is a relation between changes in governance and firm performance. Analyzing Brazilian data from 2002 to 2008, our results indicate that positive (negative) changes on corporate governance are associated with positive (negative) changes on firm performance

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