scholarly journals A comparative analysis of the board evaluation in European entities: Italy vs UK

2016 ◽  
Vol 14 (1) ◽  
pp. 578-587
Author(s):  
Donatella Busso ◽  
Alain Devalle ◽  
Fabio Rizzato
Keyword(s):  
Corporate Governance ◽  
Comparative Analysis ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Size Composition ◽  
The Self ◽  
Self Assessment ◽  
Corporate Governance Codes ◽  
The Board Of Directors ◽  
The Uk

Board evaluation is an evaluation of the performance of the board of directors and its committees, as well as their size, composition and operation. The aim of this paper is to investigate how entities do the evaluation of the performance of the board and how they disclose the self-assessment. We analysed the largest forty constituents of both Italy’s FTSE MIB index and the UK’s FTSE 100 index. The results show that although Corporate Governance Codes’ requirements are similar, implementation of these requirements and the related disclosure continue to show significant differences. The UK companies seem to have a stronger “forward-looking” approach compared to Italian companies. Disclosure provided by Italian companies is too often not enough to enable stakeholder understanding of the process and its outcome. This research contributes to the literature by providing results on the evaluation of boards of directors: regulators, practitioners and researchers must deal with this topic in order to strengthen the rules of corporate governance.

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.

Women representation on boards: a South African perspective

2016 ◽  
Vol 24 (2) ◽  
pp. 211-225 ◽  
Author(s):  
Gizelle Willows ◽  
Megan van der Linde
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Critical Mass ◽  
Gender Diversity ◽  
Current Status ◽  
Company Performance ◽  
Content Type ◽  
The Board Of Directors

Purpose By looking at both theoretical and empirical findings, this study aims to investigate whether gender diversity results in improved corporate governance and financial performance for companies. Design/methodology/approach An analysis of the board composition of the Johannesburg Securities Exchange Top 40 companies as at 30 June 2013 and a comparison of the financial performance of the company were conducted. Findings Female directors were found to make up, on average, 18.78 per cent of the board of directors, with the majority of these women being in non-executive positions. Women representation appears to influence company performance positively when using accounting-based measures of performance (such as return on assets and return on equity), but negatively when using market-based measures (such as Tobin’s Q). The critical mass concept is also assessed and is found to have a positive effect. Originality/value These findings are of relevance to the boards of directors adhering to corporate governance requirements by challenging the role of women on the board of directors, as well as that of investors and those in practice, to understand the current status of women representation.

15. Directors

2021 ◽  
pp. 406-453
Author(s):  
Derek French
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Court Cases ◽  
Public Companies ◽  
Legal Principles ◽  
Corporate Governance Code ◽  
The Board Of Directors ◽  
The Uk ◽  
The Relationship

This chapter explores the role of directors in corporate governance. Rules on appointment and removal of a company’s directors are considered, followed by public disclosure of the names of directors and their work as a board, their remuneration and their powers of management. The chapter also considers the legal categorisation of directors, whether as fiduciaries, agents or trustees; the relationship between directors and shareholders of public companies; transparency; and general legal principles regarding the board of directors. Relevant legislation such as the Companies Act 2006 and the UK Corporate Governance Code, as well as particularly significant court cases, are mentioned.

scholarly journals Diversity in the board of directors and good governance practices

2020 ◽  
Vol 9 (2) ◽  
pp. 97
Author(s):  
Álvaro Melón-Izco ◽  
Francisco J. Ruiz-Cabestre ◽  
M. Carmen Ruiz-Olalla
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Good Governance ◽  
Gender Diversity ◽  
Positive Influence ◽  
Board Diversity ◽  
Corporate Governance Mechanisms ◽  
Governance Practices ◽  
The Board Of Directors

Motivated by the debate on the adequacy of the composition of boards of directors, we examine the effect that board diversity has on corporate governance performance in Spain, analysing gender diversity, diversity of director types and tenure diversity. The findings reveal that diverse boards of directors have a positive influence on good governance practices,improving the efficiency of corporate governance mechanisms. These results could be interesting for practitioners and regulators.

scholarly journals The elite and their boards of directors

2003 ◽  
Vol 1 (1) ◽  
pp. 112-128 ◽  
Author(s):  
Géraldine Carminatti-Marchand ◽  
Mathieu Paquerot
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Civil Service ◽  
The Other ◽  
Anglo Saxon ◽  
Top Managers ◽  
The Board Of Directors

Most of studies on corporate governance are based on the Anglo-Saxon view. However in France the majority of the top managers graduate from Ena and Polytechnic. Belonging to one or the other of these two clans, with the underlying link to the civil service, can have serious repercussions on the system of corporate governance. The clan tries to increase their power in the firms. In order to do this, it needs to control firms’ leaders, but also the board of directors. The control of the board allows the system to master all shareholders’ objections. It is also a means to widen its influence. This study proposes an analysis of the links between the characteristics of leaders and boards as well as the consequences of this control of the clan on the performance of the firm.

scholarly journals An exploration of boards of directors’ quality: The development of an index for directors attributes and the relation with firm value and performance

2011 ◽  
Vol 7 (2) ◽  
pp. 51-63
Author(s):  
Jose Elias Feres de Almeida
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Firm Value ◽  
Boards Of Directors ◽  
Poor Quality ◽  
Corporate Governance Mechanisms ◽  
Corporate Governance Codes ◽  
And Performance ◽  
High Level

In an environment with poor quality of Corporate Governance Mechanisms, the quality of directors’ attributes might exert an important role to improve firm’s value and performance. I developed an index to explore the quality of Board of Directors based on Brazilian and international corporate governance codes to measure directors qualitative attributes. The sample consist in 24 Brazilian firms that traded at NYSE in the period over 1999-2006. The results show us that board of directors with high types of attributes can improve value measured individually and by the quality index. The main results indicate that firm value improved with high types of professionals, accountants seated in boards, directors with high level of education and that participated in executive training. Keywords: Board of Directors’ Quality, Corporate Governance, Firm Value, Directors Qual

scholarly journals Too little or too Much Freedom? – A Comparative Analysis of Corporate Governance Codes in the UK and Australia

2020 ◽  
Vol 15 ◽  
pp. 167-175
Author(s):  
Badar Alanazi
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Comparative Analysis ◽  
Board Members ◽  
Significant Extent ◽  
Corporate Governance Code ◽  
Management Measures ◽  
Corporate Governance Codes ◽  
The Uk ◽  
Innovation And Entrepreneurship

The purpose of corporate governance codes is to ensure that directors do not abuse their power to the disadvantage of the company’s shareholders or creditors, while at the same time affording them enough freedom to allow the company to operate in a competitive way and generate profits. This article evaluates the UK Corporate Governance Code and the Australian Corporate Governance Principles and Recommendations in order to ascertain the extent to which they strike an appropriate balance between preventing abuses of power by the board while affording them sufficient freedom to pursue innovation and entrepreneurship. The article concludes that the codes in both countries propose advanced approaches to corporate governance which to a significant extent protect the interests of the shareholders while encouraging board members to pursue innovation and entrepreneurship in a safe manner, through the adoption of appropriate risk management measures.

Derivative Lawsuits as a Corporate Governance Mechanism: Empirical Evidence on Board Changes Surrounding Filings

2007 ◽  
Vol 42 (1) ◽  
pp. 143-165 ◽  
Author(s):  
Stephen P. Ferris ◽  
Tomas Jandik ◽  
Robert M. Lawless ◽  
Anil Makhija
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Empirical Evidence ◽  
Boards Of Directors ◽  
Legal Rights ◽  
Agency Conflicts ◽  
Governance Mechanism ◽  
Board Characteristics ◽  
The Board Of Directors ◽  
Corporate Governance Mechanism

AbstractLegal rights of investors are recognized as an essential component of corporate governance. We assess the efficacy of these rights by examining board changes surrounding the filings of shareholder derivative lawsuits. We find that the incidence of derivative lawsuits is higher for firms with a greater likelihood of agency conflicts. We also find that derivative lawsuits are associated with significant improvements in the boards of directors. In particular, the proportion of outside representation on the board of directors increases. There is also some evidence that other board characteristics change favorably. These findings suggest that shareholder derivative lawsuits are not frivolous as is often claimed, but rather that they can serve as an effective corporate governance mechanism.

scholarly journals Directors’ Remuneration and Corporate Governance within the UK

2017 ◽  
Vol 7 (3) ◽  
pp. 12
Author(s):  
Tasnuva Jahan
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
World Economy ◽  
Executive Pay ◽  
Public Companies ◽  
International Debate ◽  
Legal Control ◽  
The Board Of Directors ◽  
The Usa ◽  
The Uk

In this era of globalization and rapid growth of world economy size of directors’ remuneration is a matter of international debate. Current anxieties are around the increase in executive pay as reports disclose that executive pay no longer corresponds with performance and the gap of wealth have widened since the 1980s. The courts, nevertheless, has been reluctant to scrutinise this condition, neither has the legislature shown any interest to fix any standard of pay. Model Articles for Public Companies allow the board of directors to delegate their powers on conditions they seem fit. Compared the pay of CEOs of companies of Japan, Germany and UK with the USA and found that USA and UK were closest with their generous pay. This comparison is important since the UK and the USA have been taking serious techniques to prevent extra pay. This paper will discuss about the issues with remuneration highlighting the legal control of director’s remuneration and the flaws of regulations from different viewpoints of shareholder, executive and company along with social and economic the factors that increases director’s remuneration. 

scholarly journals PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP KINERJA KEUANGAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Author(s):  
Delfalina ◽  
Aminar Sutra Dewi
Keyword(s):  
Corporate Governance ◽  
Linear Regression ◽  
Financial Performance ◽  
Board Of Directors ◽  
Significant Influence ◽  
Boards Of Directors ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Good Corporate Governance ◽  
The Board Of Directors

This study aims to determine the effect of Good Corporate Governance on the board of commissioners, boards of directors, and institutional ownership of the financial performance of the company. The sample used is the financial sector company in 20011-2015 amounted to 30 samples. The type of data used is secondary data obtained from www.idx.co.id. The hypothesis in this study was tested using multiple linear regression. The result of hypothesis testing shows that the board of commissioner has positive and not significant influence, the board of directors has positive and not significant impact to the company's financial performance (ROE). institutional ownership has a positive and significant impact on ROE.

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