Is good corporate governance practice the panacea for small-to-medium businesses operating in the South African retail sector?

The small, micro and medium business enterprises (SMMEs) sector is universally acclaimed for fostering economic growth in many economies. The health of this sector is largely premised on the observance of good corporate governance tenets. The purpose of this paper is to determine whether good corporate governance practice has been firmly embedded in the small-to-medium enterprise (SMMEs) sector in South Africa. In this study we interrogate the influence of good internal control systems, with a special focus on cash flow management practices on the survival or growth of the SMMEs. This paper utilised qualitative research methods and employed the survey technique amongst the SMMES operating in the retail sector of Pretoria in South Africa. We find evidence that good corporate governance practices enhance cash flow management processes. This is extremely important to the survival of a business, particularly small businesses, and poor corporate governance practices lead to weak cash flow management systems, which can thus lead to small business failure. We also proffer policy advice as to the remedial actions needed to safeguard this sector

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Good Corporate Governance Practices in Family Business: A Case Study in Indonesia

Petra International Journal of Business Studies ◽

10.9744/ijbs.1.1.35-44 ◽

2018 ◽

Vol 1 (1) ◽

pp. 35-44

Author(s):

Daniel Yudistya Wardhana

Keyword(s):

Corporate Governance ◽

Family Business ◽

Quantitative Model ◽

Financial Report ◽

Good Corporate Governance ◽

Governance Practices ◽

Limited Opportunity ◽

Governance Practice ◽

Corporate Governance Practice

Good corporate governance (GCG) practices have been broadly acknowledged in both industry and government these days. In general, good execution and practice of good corporate governance indicate thehealth of corporations. The awareness of good corporate governance practice developed among familybusiness regardless the size of the business. Thus, this research aims to explore the general perception offamily business towards the good corporate governance practices and the importance of good corporategovernance in their business. The focus of this study is family business in Yogyakarta Province, Indonesia.This research uses descriptive and quantitative model. Every data that was obtained from the respondents willbe described in detail and explained with quantitative model to analysis the implementation of good corporategovernance in SMEs. The results from 60 family businesses show that mostly the SMEs understand thatcompany financial and non-financial report should be reported on regular basis (mean= 2.83) they alsodiscloses the internal salary system to the employee (mean= 2.68) it might be due to the directcommunication by the owner or management to the employees. SMEs agree that detailed job description isnecessary (mean= 2.97) as well as standard operational procedure document (mean= 2.67). Also, most ofSMEs agree that a regular payment period is important (mean= 3.58) and reporting the tax on time(mean=3.27). SMEs agree that the owners or family members should be independent in recruiting employees(mean=2.55) and deciding company strategies (mean=2.43) and SMEs perception of fairness showed thatfamily member have limited opportunity to work at the company (mean=3.30).

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Corporate governance in Islamic financial institutions

Journal of Governance and Regulation ◽

10.22495/jgrv9i2art5 ◽

2020 ◽

Vol 9 (2) ◽

pp. 75-82

Author(s):

Vjollca Istrefi

Keyword(s):

Corporate Governance ◽

World Economy ◽

Developed Countries ◽

Good Corporate Governance ◽

Governance Practices ◽

Islamic Financial Institutions ◽

Governance Practice ◽

The Government ◽

Corporate Governance Practice ◽

Current Blockage

The most recent and severe financial crisis followed by the failure of the most important financial players in the world economy has raised doubts about the way the government system works. This has been crucial to understanding the significance of good corporate governance practices, able to sustain the current blockage in the most vital financial negotiations. Therefore, interest in corporate governance has grown and attracted considerable attention in both developed and less-developed countries (Mallin, 2004; Solomon & Solomon, 2004; Sternberg, 2004). Hence, the study is based on a theoretical approach, and confronts the traditional and Islamic corporate governance, analyzing the essential differences that have highlighted the necessity of finding an alternative model to the traditional one. Comparing the two models of corporate governance, in their authentic form, it easily gives rise to discrepancies. The most important divergence between the two models derived from the fact that in the Islamic model the corporate governance practice is based on the religious principles and God and Islam are the main participants in it. This is in contrast to the conventional philosophy that focuses on the material aspects and the main objective is to create and increase shareholders’ value throughout the time.

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PRAKTEK TATA KELOLA DAN KEPEMILIKAN INSTITUSIONAL: BUKTI EMPIRIS DARI SEKTOR INDUSTRI PERBANKAN

Jurnal Akuntansi ◽

10.24912/ja.v20i2.55 ◽

2017 ◽

Vol 20 (2) ◽

pp. 216

Author(s):

Perminas Pangeran ◽

Deresti Salaunaung

Keyword(s):

Corporate Governance ◽

Institutional Investors ◽

Banking Sector ◽

Institutional Ownership ◽

Positive Influence ◽

Good Corporate Governance ◽

Governance Practices ◽

Governance Practice ◽

Corporate Governance Practice ◽

The Impact

Tujuan dari penelitian ini adalah menguji pengaruh praktek tata kelola perusahaan terhadap kepemilikan institusional pada perusahaan perbankan di Indonesia. Pengujian dilakukan dengan menggunakan skor tata kelola perusahaan terhadap kepemilikan institusional. Penelitian ini dilakukan terhadap 26 bank yang terdaftar di Bursa Efek Indonesia (BEI). Hasil penelitian menunjukkan bahwa praktek tata kelola perusahaan memiliki pengaruh positif terhadap kepemilikan institusional. Hasil penelitian ini mengindikasikan bahwa investor institusional cenderung memegang saham perusahaan dengan tata kelola yang baik dan mendukung usaha Bank Indonesia dalam meningkatkan praktek tata keloladi sektor perbankan.The purpose of this study is to examine the impact of corporate governance practice on institutional ownership at the banking company in Indonesia. The research is carried by looking at the score of corporate governance on institutional ownership. This study was conducted on 26 banks listed on the Indonesia Stock Exchange.The results showed that corporate governance practices have a positive influence on institutional ownership. The results of this study indicate that institutional investors tend to hold shares of companies with good corporate governance and support the efforts of Bank Indonesia in improving governance practices in the banking sector.

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Pengaruh E-Banking dan Good Corporate Governance terhadap Kinerja Perbankan di Indonesia

AKURASI: Jurnal Riset Akuntansi dan Keuangan ◽

10.36407/akurasi.v1i1.60 ◽

2019 ◽

Vol 1 (1) ◽

pp. 21-30

Author(s):

Wisnu Handoyo Murti

Keyword(s):

Corporate Governance ◽

Digital Technology ◽

Stock Exchange ◽

Panel Regression ◽

Digital Era ◽

Good Corporate Governance ◽

Governance Practice ◽

Planning Strategies ◽

Corporate Governance Practice ◽

Positive Effect

This study aims to examine the effect of e-banking and the implication of good corpoarte governance on banks performance. The rapid movement of digital technology in dealing with transaction provides both challange and opportunities. Banks, should understand the digital trend to survive in digital era, while the good corporate governance practice will impact banks performance through planning strategies and decision making. This paper use panel regression to analyze the data, and banks that listed in Indonesia Stock Exchange is used as sample. The result indicates that e-banking, board size, and institutional ownership do not statistically significant in influencing banks performance. While ownership concentration and independent commissioner has positive effect on banks performance.

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Cash flow management practices: An empirical study of small businesses operating in the South African retail sector

Risk Governance and Control Financial Markets & Institutions ◽

10.22495/rgcv4i2c1art1 ◽

2014 ◽

Vol 4 (2) ◽

pp. 87-100

Author(s):

Augustine Oghenetejiri Aren ◽

Athenia Bongani Sibindi

Keyword(s):

Cash Flow ◽

Financial Management ◽

Small Businesses ◽

Management Practices ◽

Business Failure ◽

Retail Sector ◽

Flow Management ◽

Cash Flow Management ◽

Remedial Actions ◽

Small Business Failure

The small, micro and medium business enterprises (SMMEs) sector is universally acclaimed for fostering economic growth in many economies. The health of this sector is largely premised on the observance of prudent financial management tenets, mainly cash flow management. In this study we interrogate the influence of cash flow management practices on the survival or growth of the SMMEs by conducting a survey amongst the SMMES operating in the retail sector of Pretoria in South Africa. We find evidence that cash flow management is extremely important to the survival of a business, particularly small businesses, and poor cash flow management can also lead to small business failure. We also proffer policy advice as to the remedial actions needed to safeguard this sector.

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Securities and Exchange Commission of Nigeria's Draft Revised Code of Corporate Governance: An Appraisal

Journal of African Law ◽

10.1017/s0021855311000143 ◽

2011 ◽

Vol 55 (2) ◽

pp. 280-299 ◽

Cited By ~ 1

Author(s):

Nat Ofo

Keyword(s):

Corporate Governance ◽

Securities And Exchange Commission ◽

Final Version ◽

Draft Code ◽

Corporate Governance Code ◽

Good Corporate Governance ◽

Governance Practice ◽

Corporate Governance Practice ◽

Code Of Corporate Governance

AbstractIn furtherance of its role to entrench good corporate governance practice in Nigeria, the Securities and Exchange Commission of Nigeria published a draft revised Code of Corporate Governance. It is intended that this revised code will replace the country's current corporate governance code which came into force in 2003. This article sets out a thorough examination of the draft code with a view to appraising whether the final version of the code will be well-suited to meet its desired goals. Consequently, some of its provisions have been critically reviewed while others have been acclaimed. Furthermore, the article draws attention to the increased responsibility of the Securities and Exchange Commission in establishing good corporate governance practice and makes extensive suggestions in this regard.

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An Overview of Corporate Governance Practice in Companies Listed on the Libyan Stock Market

Athens Journal of Business & Economics ◽

10.30958/ajbe.7-3-5 ◽

2021 ◽

Vol 7 (3) ◽

pp. 287-304

Author(s):

Salem Amara

Keyword(s):

Developing Countries ◽

Corporate Governance ◽

Stock Market ◽

Stock Exchange ◽

International Standards ◽

Emerging Stock Markets ◽

Oecd Principles ◽

Governance Practices ◽

Governance Practice ◽

Corporate Governance Practice

The corporate governance concept has recently become a major issue in the corporate practices of both developed and developing countries alike. Corporate governance is considered to be a tremendously important topic in many countries around the world; specifically within the emerging stock markets in order to protect the minority of shareholders. The aim of this research is to investigate corporate governance practices in companies listed on the Libyan stock exchange. In particular, to investigate whether corporate governance practices in these companies meet international standards of corporate governance and to identify the main obstacles to implementing them. The concept of corporate governance, corporate governance practices in developing countries, the Libyan stock market and OECD principles of corporate governance were discussed. A close-ended questionnaire was the main method for data collection. 100 questionnaires were distributed to the participants of the study, and only 76 questionnaires usable for analysis were received. Several issues related to corporate governance, depending on OCED principles, were investigated. The results revealed that corporate governance practice in the companies under investigation fit with OCED principles of corporate governance in some aspects and do not fit in others. Furthermore, the most important obstacles were perceived impeding corporate governance practice in companies listed in the Libyan stock market are "lack of compliance with the laws governing the work of companies" and "high cost of applying corporate governance rules". (JEL G30) Keywords: Corporate governance, the Libyan stock exchange, developing countries, OCED principles of corporate governance

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Does corporate governance affect dividend policy: Evidence from ASEAN emerging market

Risk Governance and Control Financial Markets & Institutions ◽

10.22495/rgcv5i1c1art2 ◽

2015 ◽

Vol 5 (1) ◽

pp. 88-94 ◽

Cited By ~ 1

Author(s):

Gatot Nazir Ahmad

Keyword(s):

Corporate Governance ◽

Cash Flow ◽

Empirical Model ◽

Stock Exchange ◽

Emerging Market ◽

Research Work ◽

Free Cash Flow ◽

Positive Sign ◽

Good Corporate Governance ◽

Governance Practices

This research-work uses a survey which comes from three different countries in ASEAN region i.e Indonesian, Thailand and Malaysian. This work integrate whole data from above all countries to examine whether firms that do corporate governance practising will pay higher dividends. This study has two issues: how regulation of stock exchange affects good corporate governance and how corporate governance affects value of the firm. Using OLS regression, our finding shows that good corporate governance practices has positive sign to dividend payout. Our finding may contribute to corporate governance literature. First, result finding support Jensen’s (1986) that states free cash flow not reduce dividends pay out. Second, integrating empirical model from three different countries in ASEAN region.

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An assessment of corporate governance in financial institutions in Barbados

Journal of Governance and Regulation ◽

10.22495/jgr_v8_i1_p4 ◽

2019 ◽

Vol 8 (1) ◽

pp. 47-58 ◽

Cited By ~ 2

Author(s):

Anthony Wood ◽

Keisha Small

Keyword(s):

Corporate Governance ◽

Financial Institutions ◽

Research Effort ◽

Regulatory Agencies ◽

Good Corporate Governance ◽

Oecd Principles ◽

Governance Index ◽

Governance Practice ◽

Corporate Governance Practice ◽

Best Fit

The objective of this paper is to provide an assessment of corporate governance in selected financial institutions in Barbados. The instrument used for measuring corporate governance practice is derived from the Central Bank of Barbados (CBB) Corporate Governance Guidelines (2013) and the OECD Principles of Corporate Governance (OECD, 2004). A corporate governance index is developed to best fit the domestic financial system. The results indicate that the five financial institutions are highly compliant with the corporate governance guidelines. The corporate governance index ranges from 75 to 92 on a scale of 0 to 100 in ascending order of good corporate governance. Commercial banks obtained the highest corporate governance rankings. This result is not surprising since the banks operating in Barbados are affiliates of foreign-owned and domiciled financial institutions. They are therefore monitored by multiple local, regional and international regulatory agencies. This paper is the first such research effort for the Barbadian economy. The findings should be beneficial to many persons, including top management (CEO, Chairman, Board of Directors), shareholders and other stakeholders, regulators and future researchers.

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PENGARUH EARNINGS MANAGEMENT TERHADAP FUTURE PROFITABILITY TERKAIT DENGAN OWNERSHIP STRUCTURE, FIRM SIZE DAN CORPORATE GOVERNANCE PRACTICES

JURNAL INFORMASI, PERPAJAKAN, AKUNTANSI, DAN KEUANGAN PUBLIK ◽

10.25105/jipak.v9i1.4525 ◽

2019 ◽

Vol 9 (1) ◽

pp. 71

Author(s):

Ikhsan Yudha Asmara ◽

Felizia Arni Rudiawarni

Keyword(s):

Corporate Governance ◽

Earnings Management ◽

Firm Size ◽

Ownership Structure ◽

Audit Committee ◽

Board Member ◽

Audit Quality ◽

Governance Practices ◽

Governance Practice ◽

Corporate Governance Practice

Penelitian ini bertujuan untuk mengetahui bagaimana pengaruh earnings management terhadap future profitability badan usaha yang bergerak di sektor manufaktur yang terdaftar di Bursa Efek Indonesia, dan bagaimana efek dari struktur kepemilikan, ukuran perusahaan, dan praktik corporate governance (yang diproksikan oleh audit quality, independent board member, dan audit committee) terkait dampak earnings management terhadap future profitability badan usaha sektor manufaktur yang terdaftar di BEI. Penelitian ini menggunakan sampel berupa perusahaan sektor manufaktur yang terdaftar di PT Bursa Efek Indonesia pada periode 2008-2010. Jumlah sampel yang digunakan pada peneiitian ini adalah sebanyak 262 observasi. Metode pengambilan sampel yang digunakan adalah probability sampling — judgment/purposive sampling. Variabel independen yang digunakan pada penelitian ini adalah earnings management (diproksikan oleh CFO, NDAC, dan DAC), ownership structure (diproksikan oleh DFAM dan INST), firmsize, dan corporate governance practice (diproksikan oleh AUDIT, BOD, dan AUDCOM). Variabel dependcn pada penelitian ini adalah future profitability yang diproksikan oleh variabel LIEARNt+1 dan CF0t41. Hasil dari penelitian ini adalah (1) earnings management terbukti pengaruh yang signifikan terhadap future profitability badan usaha sektor manufaktur. Pengaruh yang muncul berbeda tergantung pada proksi yang digunakan; (2) ownership structure ternyata tidak memiliki pengaruh terhadap perilaku earnings management terkait future profitability badan usaha sektor manuiaktur; (3) firmsize tidak mempengaruhi perilaku earnings management terkait future profitability badan usaha sektor manufaktur; corporate governance practice secara keseluruhan tidak efektif dalam mempengaruhi perilaku earnings management terkait future profitability badan usaha sektor manufaktur.

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