scholarly journals Factors influencing the going private decision - a Hazard model approach

2016 ◽  
Vol 13 (2) ◽  
pp. 532-545
Author(s):  
Lucia Ehn
Keyword(s):  
Corporate Governance ◽  
Research Question ◽  
Hazard Model ◽  
Private Companies ◽  
Going Private ◽  
Factors Influencing ◽  
Logistic Regressions ◽  
Cox Hazard Model ◽  
Model Approach

The aim of this paper is to characterize companies which voluntarily changed their ownership from public to private. The research question addressed in this paper is, if it is possible to characterize going private companies in earlier stages than just shortly before the announcement of their step into privacy. I therefore examine going private companies in a lifecycle context with Cox hazard model and conduct additional logistic regressions at the time of the IPO and shortly before delisting. Further, I not only focus on companies’ fundamentals, but also on perceptibility and corporate governance variables. With data of 1’184 US IPOs from 1990 to 2013, my results show that both, perceptibility and corporate governance variables accelerate the going private decision.

The SEC’s Impact on the Federalization of Corporate Governance—A Traditional Perspective

2018 ◽  
Author(s):  
Marc I. Steinberg
Keyword(s):  
Corporate Governance ◽  
Mergers And Acquisitions ◽  
Insider Trading ◽  
Securities And Exchange Commission ◽  
Outside Directors ◽  
Tender Offers ◽  
Going Private ◽  
Rule Making

This chapter examines, from a traditional perspective, several areas where the Securities and Exchange Commission (SEC) has impacted corporate governance in a meaningful way. By way of example, these subjects include insider trading, qualitative materiality, the role of gatekeepers (such as outside directors, attorneys, and accountants), the Commission’s use of disclosure to influence conduct, the implementation by subject companies of undertakings pursuant to SEC enforcement proceedings, and mergers and acquisitions (including tender offers and going-private transactions). This chapter’s focus is on the manner in which the SEC for well over 50 years has impacted corporate governance by means of exercising its rule-making and oversight authority.

scholarly journals Assessing the Impact of Corporate Governance Index on Financial Performance in the Romanian and Italian Banking Systems

2021 ◽  
Vol 13 (10) ◽  
pp. 5535
Author(s):  
Marco Benvenuto ◽  
Roxana Loredana Avram ◽  
Alexandru Avram ◽  
Carmine Viola
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Banking Sector ◽  
Research Question ◽  
Interactive Effect ◽  
Banking System ◽  
Capital Adequacy ◽  
Banking Systems ◽  
Governance Index ◽  
The Impact

Background: Our study aims to verify the impact of corporate governance index on financial performance, namely return on assets (ROA), general liquidity, capital adequacy and size of company expressed as total assets in the banking sector for both a developing and a developed country. In addition, we investigate the interactive effect of corporate governance on a homogenous and a heterogeneous banking system. These two banking systems were chosen in order to assess the impact of corporate governance on two distinct types of banking system: a homogenous one such as the Romanian one and a heterogeneous one such as the Italian one. The two systems are very distinct; the Romanian one is represented by only 34 banks, while the Italian one comprises more than 350 banks. Thus, our research question is how a modification in corporate governance legislation is influencing the two different banking systems. The research implication of our study is whether a modification in legislation, thus in the index of corporate governance, is feasible for two different banking sectors and what the best ways to increase the financial performance of banks are without compromising their resilience. Methods: Using survey data from the Italian and Romanian banking systems over the period 2007–2018, we find that the corporate governance has a significant, positive and long-lasting effect on profitability and capital adequacy in both countries. Results: Taking the size of the company into consideration, the impact of the Index of Corporate Governance (ICG) on a homogenous banking system is positive while the impact on a heterogeneous banking system is negative. Conclusions: Our study provides evidence of the impact of IGC on financial performance and sheds light on the importance of the size of the company. Therefore, one can state that the corporate governance principles applied do not encourage the growth of large banks in heterogeneous banking sectors, thereby suggesting new avenues of research associated with new perspectives.

scholarly journals Measuring Corporate Governance Using Analytic Hierarchy Process (AHP): Case of Algerian Companies

2019 ◽  
Vol 3 (1) ◽  
pp. 1-24
Author(s):  
Hamoudi HADJ-SAHRAOUI ◽  
Rima Chiboub
Keyword(s):  
Corporate Governance ◽  
Analytic Hierarchy Process ◽  
Financial Performance ◽  
Empirical Studies ◽  
Analytic Hierarchy ◽  
Private Companies ◽  
Corporate Governance Mechanisms ◽  
Property Type ◽  
Governance Systems ◽  
Hierarchy Process

During the last decades, and according to its effect on financial performance, the measuring of corporate governance systems has been the subject of many empirical studies. In this side and in order to arrange the Algerian companies, the Analytic Hierarchy Process (AHP), which is concerning as a multi-criteria decision-making method, has been used to analyze the data of 16 companies during the period 2010-2013. The findings are as follows: (1) in contrast to the property type which determines the financial performance, the relationships between corporate governance mechanisms and financial performance are weak and sometimes negative (2) according to AHP results, the corporate governance systems of private companies are the best.

scholarly journals New risks related to emerging technologies and reputation for corporate governance

2020 ◽  
Vol 9 (2) ◽  
pp. 64-74
Author(s):  
Hugh Grove ◽  
Mac Clouse ◽  
Tracy Xu
Keyword(s):  
Artificial Intelligence ◽  
Corporate Governance ◽  
Boards Of Directors ◽  
Emerging Technologies ◽  
Research Question ◽  
World Intellectual Property Organization ◽  
Global Marketplace ◽  
Challenges And Opportunities ◽  
Potential Risks ◽  
Management Issues

Artificial intelligence (AI) has moved from theory into the global marketplace. The United Nations World Intellectual Property Organization released the first report of its Technology Trends series on January 31, 2019. It considered more than 340,000 AI-related patent applications over the last 70 years. 50 percent of all AI patents have been published in just the last five years. The challenges, potential risks, and opportunities for business and corporate governance from emerging technologies, especially artificial intelligence, have been summarized as whereby machines and software can analyze, optimize, prophesize, customize, digitize and automate just about any job in every industry. Boards of directors and executives need to recognize and understand the new risks associated with these emerging technologies and related reputational risks. The major research question of this paper is how boards of directors and executives can deal with both risk challenges and opportunities to strengthen corporate governance. Accordingly, the following sections of this paper discuss key risk management issues: deep shift risks, global risks, digital risks and opportunities, AI initiatives risks, business risks from millennials, business reputational risks, and conclusions.

scholarly journals An Analysis of the Unpredictable Factors Influencing Loan Default in Small Scale Enterprises in the Port Loko Municipality in Sierra Leone using the Fish Bone Diagram

2021 ◽  
Vol 7 (2) ◽  
pp. 119-128
Author(s):  
Edmund Benedict Amara
Keyword(s):  
Sierra Leone ◽  
Research Question ◽  
Fish Bone ◽  
Small Scale ◽  
Microfinance Institutions ◽  
Random Sample Size ◽  
Loan Default ◽  
Factors Influencing ◽  
Fishbone Diagram ◽  
Loan Defaults

The study shows that there are unpredictable factors influencing loan default in small-scale enterprises in Port Loko Municipality. A fishbone diagram which is a cause an effect tool was used to determine these factors. A brainstorming activity was used to get the views of participants with regard to the Research Question. The research question was to respond to a research objective which was “Are there unpredicted factors influencing loan default in small scale enterprises in Port Loko Municipality in Sierra Leone?”. Reviews of necessary literature were done to aid the study. In the review, matters relating to loan default and possible causes were addressed. It is unfolded that there are some loan defaults that are as a result of the borrowers’ lapses and others that are lender-oriented causes. The population size of one hundred and a random sample size of sixty people were used as participants to carry out the brainstorming activity. The population is comprised of small-scale enterprise owners and workers of credit or Microfinance institutions in the Municipality. Brainstorming participants proved that the death of clients or borrowers, internal insecurity, outbreak of diseases (Pandemic), Natural Disasters, and accident all significantly influence loan default of small-scale enterprises.

scholarly journals FACTORS INFLUENCING MALAYSIAN PINEAPPLE SMALLHOLDERS INTENTION TO ADOPT MYGAP AND MPIB ROLES TO INSPIRE THE GROWERS TO OBTAIN MYGAP CERTIFICATION

2019 ◽  
Vol 7 (2) ◽  
pp. 315-321
Author(s):  
Soo-Fen Fam ◽  
Jamaliah Laham ◽  
Zaiton Sapak ◽  
Zun Liang Chuan ◽  
Amiruddin Ahamat ◽  
...  
Keyword(s):  
Descriptive Analysis ◽  
Perceived Barriers ◽  
Intention To Adopt ◽  
Factors Influencing ◽  
Logistic Regressions

Purpose of the study: The study aims to identify the factors influencing growers’ intention to adopt MyGAP and MPIB roles and to inspire the pineapple growers to obtain MyGAP certificate. Methodology: Questionnaires were distributed to a sample of 52 pineapple smallholder respondents in the study area. Descriptive analysis and binary logistic regressions were conducted using IMB SPSS version 23. Main Findings and Novelty: The results of this study show that the three factors influencing pineapple smallholders’ intention to adopt MyGAP are training, attitude and barriers. The odd ratios show growers who received training are four times more likely to adopt MyGAP. Applications of this study: MPIB has to conduct more training in order to inspire pineapple growers to obtain MyGAP certification. Meanwhile, the growers also have to change their attitude to accept MyGAP and overcome the perceived barriers for adopting MyGAP.

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