scholarly journals Editorial: New horizons in corporate law and governance research

2021 ◽  
Vol 3 (1) ◽  
pp. 4-6
Author(s):  
Mehtap Aldogan Eklund
Keyword(s):  
Corporate Governance ◽  
Corporate Law ◽  
Governance System ◽  
Socially Responsible ◽  
Responsible Investment ◽  
Commercial Code ◽  
Fictitious Capital ◽  
Wide Range ◽  
The Board Of Directors

Corporate governance and corporate law cover a wide range of eminent topics for the effective governance system. The articles published in this issue have focused particularly on the board configuration, commercial code regulations about the managers’ decision and compensation, the comparative perspective of the common law rule on pre incorporation contracts, and the responsibility of the company with the authorized fictitious capital from the evidence of emerging markets. Moreover, this issue includes a book review of the theoretical, essential, and international practices of corporate governance, which consists of various timely and interesting concepts, such as the role of institutional investors in corporate governance, the board of directors’ impact on performance and the role of non-executive directors, the audit function and the role of regulation international corporate governance, and socially responsible investment, etc.

scholarly journals Book review: “Corporate governance: Theoretical essentials and international practices”

2021 ◽  
Vol 3 (1) ◽  
pp. 53-57
Author(s):  
osé Manuel Bernardo Vaz Ferreira
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Executive Directors ◽  
Socially Responsible ◽  
Responsible Investment ◽  
Key Points ◽  
The Board Of Directors ◽  
The Relationship

This review covers the textbook titled “Corporate governance: Theoretical essentials and international prectices”, authored by Aws Alhares and Naser Ibrahim Abumustafa (Virtus Interpress, 2021; ISBN: 978-617-7309-17-7). The review focuses particularly on the relationship between corporate governance and financial structure, the role of institutional investors in corporate governance, the board of directors’ impact on performance and the role of non-executive directors, the audit function and the role of regulation international corporate governance, and socially responsible investment. It also highlights the contribution of this textbook to the ongoing discussion on key points relating to corporate governance

IMPROVING THE EFFICIENCY OF THE BANK'S BOARD OF DIRECTORS BY IMPROVING RISK MANAGEMENT

2021 ◽  
Vol 4 (12) ◽  
pp. 30-34
Author(s):  
Indira Z. Toguzova ◽  
◽  
Soslan I. Kalitsov ◽  
Natalie V. Kisieva ◽  
Zarina E. Tarkhanova ◽  
...  
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Board Of Directors ◽  
Governance System ◽  
Corporate Risk Management ◽  
Integrated Risk ◽  
Corporate Governance System ◽  
The Board Of Directors ◽  
Corporate Risk

Banking risk management has become particularly important in an unstable and volatile exter-nal environment. It presupposes both the development of the instrumental elements of the integrated risk management system and the development of the corporate governance system. The article examines the features of risk management both at the level of bank management and at the level of corporate governance, in particular, the role of the board of directors in effective corporate risk management is shown. On this basis, the authors formulated recommendations for the formation of a culture of risk management.

The effect of the adoption of an alternative corporate governance system on firms’ performances

2016 ◽  
Vol 35 (4) ◽  
pp. 517-529 ◽  
Author(s):  
Carlo Bellavite Pellegrini ◽  
Bruno S. Sergi ◽  
Emiliano Sironi
Keyword(s):  
Corporate Governance ◽  
Propensity Score ◽  
Performance Outcomes ◽  
Corporate Law ◽  
Law Reform ◽  
Governance System ◽  
Content Type ◽  
Alternative System ◽  
The Impact ◽  
Board System

Purpose – Alternative corporate governance systems (CGSs) have attracted a significant bulk of research recently. While the connection between the adoption of an alternative system (one tier board or two tier board system) and firms’ performances has not been fully analysed yet, the purpose of this paper is to analyse whether companies which have turned into an alternative board system have eventually improved their performance over time. Design/methodology/approach – Using a sample of more than 15,000 Italian unlisted joint stock companies, the authors compare performance outcomes in 2009 of firms adopting alternative systems with performances of firms that maintained the system in force before the 2003 Corporate Law Reform (defined as “traditional”). Because of the choice of an alternative system (one tier or two tier board) instead of a traditional one is not random, the authors reduce selection bias implementing matching methods and comparing firms that are close in terms of propensity score measured in 2003 (the year before the new CGSs have been introduced by a corporate law reform). Findings – The authors do not find evidence of a significant improvement of performances in 2009 concerning those firms that have adopted a one tier or two tier board systems with respect to those which maintained a traditional one. Originality/value – The novelty of the study concerns the application of propensity score matching for the evaluation of the impact of the change of the CGS that is possible in presence of two conditions that are all verified in our setting: first, to have a country where corporate law allows for choosing among different systems; in this case Italy is a good laboratory, because it allows for the choice among three different systems; and second, to have the opportunity to evaluate the effect of the change in light of a relatively recent “pre-treatment” condition; this is made possible by the fact that before the 2003 Reform of corporate law all the companies had a traditional system.

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.

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 Orchestrating Governmental Corporate Social Responsibility Interventions through Financial Markets: The Case of French Socially Responsible Investment

2020 ◽  
Vol 30 (3) ◽  
pp. 288-334 ◽  
Author(s):  
Stéphanie Giamporcaro ◽  
Jean-Pascal Gond ◽  
Niamh O’Sullivan
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Markets ◽  
Socially Responsible Investment ◽  
Socially Responsible ◽  
Role Of Government ◽  
Responsible Investment ◽  
Corporate Social ◽  
Private Actors

ABSTRACTAlthough a growing stream of research investigates the role of government in corporate social responsibility (CSR), little is known about how governmental CSR interventions interact in financial markets. This article addresses this gap through a longitudinal study of the socially responsible investment (SRI) market in France. Building on the “CSR and government” and “regulative capitalism” literatures, we identify three modes of governmental CSR intervention—regulatory steering, delegated rowing, and microsteering—and show how they interact through the two mechanisms of layering (the accumulation of interventions) and catalyzing (the alignment of interventions). Our findings: 1) challenge the notion that, in the neoliberal order, governments are confined to steering market actors—leading and guiding their behavior—while private actors are in charge of rowing—providing products and services; 2) show how governmental CSR interventions interact and are orchestrated; and 3) provide evidence that governments can mobilize financial markets to promote CSR.

Socially Responsible Index: International Experiences and China’s Practices

2011 ◽  
Vol 361-363 ◽  
pp. 1740-1744
Author(s):  
Zhao Hui Li ◽  
Jun Feng Li
Keyword(s):  
Social Responsibility ◽  
Triple Bottom Line ◽  
Socially Responsible Investment ◽  
Social Awareness ◽  
Socially Responsible ◽  
Bottom Line ◽  
Responsible Investment ◽  
International Experiences ◽  
International Social

This paper focuses on the compiling and the role of the socially responsible index. Socially responsible investment originated from ethically investing teachings and developed on growing social awareness. Social responsibility indexes are products of the development of social responsibility investment. The Domini 400 Social Index, the Dow Jones Sustainability Indexes and the Calvert Social Index are typical cases of international social responsibility indexes. They are compiled on the base of consistency, flexibility and transparency and their component stocks are selected according to triple bottom line. Compared with international experiences, China’s social responsibility indexes have a shorter history and some problems.

The Oxford Handbook of Corporate Law and Governance

2015 ◽  
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Economic Benefits ◽  
Corporate Law ◽  
Employment Relations ◽  
Capitalist System ◽  
Current Trends ◽  
Executive Remuneration ◽  
The Board Of Directors ◽  
Benefits And Costs

This handbook offers a comparative and functional overview of corporate law and governance. It examines the shift from corporate law to corporate governance — from a largely legal emphasis to one that focuses on the corporation’s inputs, outputs and how they are managed and, ultimately, the ways in which governance interacts with other institutional elements that comprise a capitalist system. It also discusses the conventional goals and mechanisms of corporate governance, along with their limitations when applied to banks; the roles and functions of the board of directors, how boards fail, and the reforms that have been tried to improve their performance; how mergers and acquisitions are regulated; and the functions of corporate accounting and financial reporting worldwide. Other chapters deal with the ‘corporate law’ issues involved in the regulation of takeovers; the relationship between corporate governance and employment relations; fundamental issues of corporate insolvency law; legal and policy issues relating to transactions between a corporation and one of its ‘related parties’; current trends in the regulation and practice of executive remuneration; corporate governance in closely held corporations; and economic benefits and costs of external and internal asset partitioning in corporations.

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