scholarly journals Corporate governance and performance in turnaround: A synthetic index

2012 ◽  
Vol 10 (1) ◽  
pp. 62-74 ◽  
Author(s):  
Giovanna Mariani ◽  
Delio Panaro
Keyword(s):  
Corporate Governance ◽  
Ad Hoc ◽  
Good Governance ◽  
Warning Signs ◽  
Governance System ◽  
Balance Sheets ◽  
Synthetic Index ◽  
And Performance ◽  
Corporate Governance Quality ◽  
Definition Of

In this work we carried out an empirical research on a panel of companies in turnaround SMEs, venture capital backed, with the objective of deepening the analysis: Firstly, if warning signs were submitted from firms in turnaround. Secondly, we tried to verify the role played by the Corporate Governance in restructuring, with the definition of an index of good Governance for SMEs (scG) and Performance ad hoc index (scP). Thirdly, the definition of a Synthetic Index (SI) aggregates the two kinds of information: Corporate Governance Quality and Performance. We conducted an analysis of the balance sheets of the companies in turnaround participated by a turnaround fund, in the years 2004 and 2009. In relation to the total number of firms involved in turnaround in the period in question, which were 26 in total; it was possible to reconstruct the historic trend only for 12 of them, for the others the balance sheets could not be found.In conclusion, it can be noted that the analysis of important aspects of management through the development of Z-score, and scG, scP, and SI can summarize complex concepts into a number and allows for comparisons between situations that are not readily comparable in terms of accounting. This study can suggest the definition of Corporate Governance Index for SME in critical situations. This study offers some ideas about the opportunity of stimulating the SME to introduce the Corporate Governance System spread to listed companies

scholarly journals The corporate governance drivers: What relations with performance and risk? Empirical evidence from Italian contex

2013 ◽  
Vol 10 (4) ◽  
pp. 510-523 ◽  
Author(s):  
Francesca Bernini ◽  
Giovanna Mariani ◽  
Delio Panaro
Keyword(s):  
Corporate Governance ◽  
Empirical Evidence ◽  
Default Risk ◽  
Family Firms ◽  
Good Governance ◽  
Z Score ◽  
Governance Quality ◽  
Good Relation ◽  
And Performance ◽  
Corporate Governance Quality

Considering a sample of Italian firms and defining a good Governance index (gGI), we investigated if there is a relation between the gGI, the performance and the default risk and which governance determinants are most responsible of these effects. To deepen the analysis, the aforementioned relations are also observed by comparing family and non-family firms and the companies more or less active in M&A. We found that the Corporate Governance quality presents some correlations with performance and risk. The non-family companies are better structured, showing a positive correlation between some Corporate Governance drivers and performance and Z-score. Furthermore, the “well-advised” firms in external strategies are able to obtain a better correlation with performance and also a good relation with Z-score.

scholarly journals The corporate governance drivers, performance and risk: empirical evidence from Italian context

2013 ◽  
Vol 11 (1) ◽  
pp. 126-139 ◽  
Author(s):  
Francesca Bernini ◽  
Giovanna Mariani ◽  
Delio Panaro
Keyword(s):  
Corporate Governance ◽  
Default Risk ◽  
Good Governance ◽  
Risk Level ◽  
Z Score ◽  
Governance Index ◽  
Governance Quality ◽  
Corporate Governance Quality ◽  
Definition Of ◽  
Risk Parameters

In this work we carried out an empirical research on a sample of 98 Italian companies continuously listed during 2005-2011, with the objective of deepening the analysis : we tried to verify the role played by the Corporate on performance and default risk, with the definition of an index of good Governance (scG); we tried to verify the variables of Corporate Governance that produce effects on performance and risk of default (Z-score and leverage); we tried to verify the difference of effects of Corporate governance Index on performance and risk for family business and for companies active in M&A; we conducted an analysis on a sample of Italian companies to measure Corporate Governance quality and to evaluate the relationship with the accounting and market performance and the effect on risk level. We find that The Corporate Governance quality presents some correlation with performance and risk parameters. The non family companies are better structured. They show a positive correlation between some Corporate Governance drivers and performance and Z-score. We can observe that le “well-advised” firms in external strategies are able to obtain a better correlation with performance and also a good relation with Z-score. This study can suggest the definition of Corporate Governance Index according to the need to evaluate the opening to shareholders and stakeholders.We examine the relation between the different CG variables and some measure of performance and risk

Board Effectiveness: An Evaluation based on Corporate Governance Score

Think India ◽  
2015 ◽  
Vol 18 (1) ◽  
pp. 16-23
Author(s):  
Hitesh Shukla ◽  
Nailesh Limbasiya
Keyword(s):  
Corporate Governance ◽  
Good Governance ◽  
Sustainable Growth ◽  
Governance Mechanism ◽  
Minority Shareholders ◽  
Effective Governance ◽  
Performance Orientation ◽  
Corporate Governance Mechanism ◽  
And Performance ◽  
Ethical Governance

Growth, progress, and prosperity of any country depend highly on the corporate governance mechanism of that country. Good governance of a country helps it to sustainable growth and consistency in progress. The good governance should contribute towards the improvement in transparency, ethics, morality, and disclosure. The principles of good governance stand on honesty, trust, integrity, openness, and performance orientation. Our honorable Prime Minister Narendra bhai Modi had given the three E for good governance during his speech on Independence Day i.e. Effective Governance, Electronic Governance, and Ethical Governance. The fundamental concern of corporate governance mechanism is to ensure the protection of minority shareholders/owners of specific firms. Mechanism of a corporate governance specifies the relations among the shareholders, board of directors, and managers. The present paper is an attempt to evaluate the effectiveness of the board by calculating the corporate governance score. The mandatory and non-mandatory guidelines have been considered while assigning points to specific parameters of the corporate governance.

scholarly journals Corporate Governance Role in Improving the Financial Information Quality within the Saudi Electricity Company: دور حوكمة الشركات في تحسين جودة المعلومات المحاسبة في الشركة السعودية للكهرباء

2020 ◽  
Vol 4 (1) ◽  
Author(s):  
Arwa Hassan Baabbad
Keyword(s):  
Corporate Governance ◽  
Significant Relationship ◽  
Information Quality ◽  
Survey Methodology ◽  
Governance System ◽  
And Performance ◽  
The Right ◽  
Descriptive Survey ◽  
The Impact

The present study aimed to find out the role of corporate governance in improving the quality of information in the Saudi Electricity Company. The researcher used the descriptive survey methodology. As to achieve the study objectives، the researcher utilized the questionnaire tool، in which the study sample (50) members of SEC distributed into employees، managers and decision makers. The study concluded to many results، among of which are: there is a statistically significant relationship between the availability of corporate governance system and performance improvement of the Saudi Electricity Company، there is a statistically significant relationship between corporate governance and appropriateness in improving the performance of the Saudi Electricity Company، it was also found that there is a statistically significant relationship between corporate governance and optimal disclosure in improving the performance of Saudi Electricity Company. The study also found that there is a statistically significant relationship between corporate governance and the right timing in improving the performance of the Saudi Electricity Company. The study suggested number of recommendations، among of which are: the importance of the shareholding companies to comply with the corporate governance regulations considering the interest of companies and their shareholders and all other parties benefiting from the financial statements، attempting to take advantage of the multiple benefits of corporate governance and expand its application in the various economic units in Saudi Arabia، conduct studies on companies that applies the requirement of the Corporate Governance Regulations، and the impact of the application of corporate governance on the shares of these units to find out the relationship between the quality of accounting information in light of the application of corporate governance and the stock market from another angle، imposing deterrent penalties concerning the Corporate Governance Regulations on companies that did not apply this regulation.

scholarly journals Corporate municipal governance for effective and efficient public service delivery in South Africa

2014 ◽  
Vol 3 (4) ◽  
pp. 98-106 ◽  
Author(s):  
Paulin Mbecke
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Service Delivery ◽  
Local Governments ◽  
Good Governance ◽  
Governance System ◽  
Municipal Governance ◽  
Governance Systems ◽  
Set Up ◽  
Code Of Corporate Governance

This research acknowledges the current service delivery chaos manifested through numerous protests justifying the weakness of the “Batho Pele” good governance principles to facilitate, improve and sustain service delivery by local governments. The success of corporate governance in corporate companies and state owned enterprises is recognised prompting suggestions that local governments should too adopt corporate governance principles or King III to be effective. The research reviews the King III and literature to ascertain the lack of research on corporate governance in local governments in South Africa. Considering the particular set-up of local governments, the research doubts the successful application of King III in local governments. Through critical research theory, the current service delivery crisis in local governments in South Africa is described. The success of corporate governance systems in the United Kingdom and Australian local governments justify the need for a separate corporate municipal governance system as a solution to the crisis. A specific change of legislation and corporate governance guidelines is necessary to address the uniqueness of local governments. Hence, corporate municipal governance should be compulsory and based on ten standardised good governance principles via a code of corporate governance and a corporate governance framework responding to specific prerequisites for success

scholarly journals Effect of Earnings Management on Firm Value with Corporate Governance as a Moderating Variable

2021 ◽  
Vol 9 (2) ◽  
pp. 262-268
Author(s):  
Jevri Afrizal ◽  
Rindu Rika Gamayuni ◽  
Usep Syaipudin
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Firm Value ◽  
Management Practices ◽  
Governance System ◽  
Corporate Governance System ◽  
And Performance ◽  
Conceptual Study ◽  
Positive Effect

This study aims to provide a conceptual study of the effect of earnings management on firm value by including corporate governance. as a moderating variable. This paper is a conceptual paper that discusses issues related to earnings management on firm value and the role of corporate governance in minimizing earnings management practices so as to increase firm value. Previous theoretical studies have shown that earnings management is effectively controlled by the corporate governance system and performance. In addition, the results of previous studies found empirical evidence that there is a positive relationship between earnings management and firm value. From the theoretical discussion and previous research, it is concluded that earnings management practices have a positive effect on firm value as moderated by corporate governance.

scholarly journals Developments in the european banking industry

2009 ◽  
Author(s):  
Μαρία-Ελένη Αγοράκη
Keyword(s):  
Corporate Governance ◽  
Banking Industry ◽  
Board Structure ◽  
Governance System ◽  
Firm Financial Performance ◽  
Governance Challenges ◽  
The Board Of Directors ◽  
European Banking ◽  
European Banks ◽  
And Performance

Corporate governance has become a leading topic of research, considering its importance as an implement for transparency in financial markets and corporations. On the other hand, the role of the banks is fundamental in any economy that urges for strong corporate governance. Banks are “special” financial institutions posing unique corporate governance challenges. However, very little attention has been paid to the corporate governance of banks. Recent scandals in the financial sector have brought corporate governance at the forefront of academic and supervisory attention. Banks’ versatile role in the economic system has caught regulatory and supervisory interest around the world in an effort to inspire high quality corporate governance standards. Board structure, in the sense of board size and composition, and its impact on corporate performance constitutes an indispensable and, at the same time, prevalent theme of the corporate governance discussion. This thesis examines corporate governance issues in the European banking industry. More specifically, it examines the relationship between board structure and performance, on a sample of 57 large European banks, over the period 2002-2006. The board structure mechanisms applied, are the size of the board of directors and the percentage of non-executives on the board. In addition, this study employs different measures of firm financial performance both market-based and accounting based. Control variables for the bank size and risk as well as for the different corporate governance system are included in the models. The empirical analysis also incorporates a number of bank-specific variables. […]

scholarly journals Towards a good governance system : The implementation of a system of management control in a public institution: Case of a Regional Academy for Education and Training.

2016 ◽  
Vol 7 (4) ◽  
pp. 1278-1288
Author(s):  
TOUILI KARIMA ◽  
DEKRI MERIAM
Keyword(s):  
Educational System ◽  
Good Governance ◽  
Management Control ◽  
Public Institution ◽  
Governance System ◽  
The Public ◽  
National Priority ◽  
The Difference ◽  
The Government ◽  
And Performance

The issue of reforming the Moroccan educational system has become an important national topic. The government is looking forward to achieve the objectives that have been defined forward for this system and contribute to let it be performant.Effectively, the Moroccan educational system is the second national priority. All the national speeches of his majesty king of Morocco are focalized in reorganizing this system by detecting the problems and developing pertinent solutions and tools able to make the difference in the future. The Moroccan context is characterized by the will of government to establish the notion of governance and performance in the public services in general and in the national educational system especially. The aim of our paper is to study how can we introduce the concept of performance in the educational system by integrating a system of management control in the system of education?The hypothesis that the three habitual summits of management control namely- means –objectives and realizations arenot enough for studying the complexity and the missions of such a sector like the educational system where the satisfactions of users is an important factor that must be took into consideration.

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