scholarly journals Corporate governance and corporate social responsibility in Italy: advantages and disadvantages of a non-explicitly-existent system

2007 ◽  
Vol 4 (4) ◽  
pp. 36-58 ◽  
Author(s):  
Giovanni D’Orio ◽  
Rosetta Lombardo
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Advantages And Disadvantages ◽  
Italian Case ◽  
Unique System ◽  
Unique Model ◽  
Governance Practices ◽  
Corporate Social ◽  
And Control

The greatest distinctions between corporate governance practices around the world appear to result from differences in law and not from differences in recommendations that emanate from the types of codes adopted. With the evolution of the concept of Corporate Governance the area of connections with the concept of Corporate Social Responsibility has become more and more wide. The possible way to separate ownership and control, so the corporate governance in the private sector of Italian economic system, has not been based on a unique model but on a set of different models for the different kind of enterprises involved. This paper analyses the connection between corporate governance and corporate social responsibility focusing on the Italian case where, since the system of corporate governance has never been clearly defined, the current outcome shows a unique system that well incorporates both concepts

scholarly journals EDITORIAL: Corporate governance, accounting and finance research outlook

2019 ◽  
Vol 16 (2) ◽  
pp. 4-6
Author(s):  
Doriana Cucinelli
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Accounting Standards ◽  
Board Governance ◽  
Corporate Ownership ◽  
Corporate Social Responsibility Reporting ◽  
Corporate Social ◽  
And Control ◽  
Governance Disclosure

The recent volume of the journal “Corporate Ownership and Control” is devoted to very interesting issues related to the corporate governance such as accounting standards, efficacy of board governance, corporate social responsibility reporting, corporate governance disclosure, ownership and firms’ performance.

Corporate social responsibility and shareholder support for corporate governance changes

2016 ◽  
Vol 12 (4) ◽  
pp. 687-705 ◽  
Author(s):  
Charles P. Cullinan ◽  
Lois S. Mahoney ◽  
Pamela Roush
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Environmental Performance ◽  
Design Methodology ◽  
Content Type ◽  
Governance Changes ◽  
Governance Practices ◽  
Corporate Social ◽  
The Relationship

Purpose This paper examines whether shareholders consider corporate social responsibility (CSR) performance when voting on corporate governance change proposals submitted by dissident shareholders. These proposals recommend changes to the corporate governance status quo and are made by dissident shareholders who are dissatisfied with the company’s existing governance practices. Design/methodology/approach Using 195 governance change proposals voted on during 2013, the paper examines the relationship between CSR performance (obtained from the MSCI database) and the level of voting support for these proposals. Findings This study finds that shareholder support for corporate governance change proposals submitted by dissident shareholders is positively related to firms’ CSR concerns, especially environmental concerns. Research limitations/implications The findings suggest that shareholders may be concerned with the potentially adverse effects of weak CSR performance, especially poor environmental performance, and may support changes to corporate governance structures when a company’s CSR and environmental performance is weaker. Originality/value As the first research to examine the relationship between CSR and proposed changes to corporate governance, this study provides unique insights into shareholder perceptions of the value of CSR based on shareholders’ support (or lack thereof) for governance changes proposed by dissident shareholders.

scholarly journals Impact of Corporate Governance Practices on Corporate Social Responsibility: Evidence from Listed Banks, Finance and Insurance Companies in Sri Lanka

2019 ◽  
Vol 14 (2) ◽  
pp. 115-138
Author(s):  
Lingesiya Kengatharan ◽  
◽  
Thangarasa Sivakaran ◽  
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Sri Lanka ◽  
Social Responsibility ◽  
Firm Size ◽  
Audit Committee ◽  
Insurance Companies ◽  
Return On Assets ◽  
Governance Practices ◽  
Corporate Social

The objective of this study is to examine the impact of corporate governance practices on corporate social responsibility of the listed banks, finance and insurance companies in Sri Lanka over the period of 2013 to 2017. A sample of 20 firms out of 72 banks, finance and insurance firms listed on the Colombo Stock Exchange was considered for this study. The study utilized secondary data which were collected from annual reports of the sampled firm. Corporate social responsibility was measured by a 40-item disclose index. Corporate governance practices were measured by board size, board independence, women on board and size of audit committee. Return on assets and firm size were considered as control variables. Results of the study revealed that independent directors, return on assets and firm size have significantly positively influenced corporate social responsibility. Board size, women on the board and size of audit committee have not shown any significant impact on corporate social responsibility. The result of this study is deemed to benefit external investors and shareholders who will be able to know that how the firm committed their Corporate Social Responsible activities rather than profit maximization. Further the finding is useful for interested people such as public, government, and other financial institutions. Moreover, it will help to future researchers for further investigation related to this topic. Keywords: corporate social responsibility, corporate governance practices, stakeholder theory

scholarly journals Impact of Corporate Governance on Organisational Performance of Indian Firms

2021 ◽  
pp. 097468622110473
Author(s):  
Kishinchand Poornima Wasdani ◽  
Abhishek Vijaygopal ◽  
Mathew J. Manimala ◽  
Aniisu K. Verghese
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
First Century ◽  
Annual Growth Rate ◽  
Organisational Performance ◽  
Compound Annual Growth Rate ◽  
Multilevel Factor Analysis ◽  
Governance Practices ◽  
Corporate Social

This research study explored the link between corporate governance practices (CGPs) and organisational performance in India, especially in the context of some major CG reforms that have been undertaken since the turn of the twenty-first century. The authors also attempted to understand in-depth the implications of these reforms for the companies. For assessing the link between CG practices and organisational performance, data were collected from a sample of 100 listed companies in India using an adapted version of the Institute of Company Secretaries of India (ICSI)’s questionnaire. Multilevel Factor Analysis (MFA) for scores along 5 CG sub-categories revealed 17 first-level and 4 second-level factors. Regression of organisational performance, measured using Compound Annual Growth Rate (CAGR), against these factors showed that the first-level factor representing corporate social responsibility and sustainability (CSRS) was a significant predictor of organisational performance. This finding is significant while considering the introduction of mandatory CG provisions for corporate social responsibility (CSR), applicable to companies meeting specified turnover and profitability thresholds according to CG regulations in India. The findings of this study open the debate on CG regulation and on mandatory and desirable norms in the Indian context. Eligible Indian companies must focus on the CG practice of investing in CSR initiatives through purpose-led CSRS interventions and their long-term benefits, rather than on viewing it as a mandatory CG provision that induces short-term expenses.

scholarly journals Current state of corporate governance practices in Colombia

2021 ◽  
Vol 17 (1) ◽  
pp. 51-59
Author(s):  
Sandra Gaitán ◽  
Jimmy A. Saravia
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Hedge Funds ◽  
Global Financial Crisis ◽  
Future Research ◽  
Corporate Boards ◽  
Current State ◽  
Governance Practices ◽  
Corporate Social

In this paper, we review the current state of corporate governance in Colombia. First, we discuss the evolution of the legal framework of corporate governance including the main changes in the code of best corporate governance practices that took place since the global financial crisis of 2008. After this, we discuss key corporate governance issues such as the ownership structure of listed corporations and the market for corporate control, we analyze the practices of corporate boards of Colombian listed companies and their remuneration systems and the role of pension funds and hedge funds as shareholder activists. We also review the evidence regarding corporate governance and firm performance. Finally, we discuss the current state of corporate social responsibility (CSR) and an assessment of corporate governance specifics by industry. We conclude that there are opportunities for future research in several of these fields of study, especially regarding boards of director practices, director remuneration, and corporate social responsibility.

scholarly journals Relationship Between Corporate Governance and Corporate Social Responsibility: Evidence From Nepalese Commercial Banks

2016 ◽  
Vol 9 (1) ◽  
pp. 137-144 ◽  
Author(s):  
Resam Lal Poudel
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Commercial Banks ◽  
Joint Venture ◽  
Sampling Technique ◽  
Governance Practices ◽  
Csr Disclosure ◽  
Corporate Social ◽  
The Relationship

The research paper aims to show the relationship between corporate governance (CG) and corporate social responsibility (CSR) disclosure in Nepalese commercial banks. In simple terms corporate governance is the system by which companies are governed. It is a set of rules and behaviors according to which companies are managed and controlled. Corporate social responsibility or sustainability is an important feature in contemporary business addresses different aspects like business ethics, stakeholder’s management and social performance. Effective corporate governance is expected to support effective and efficient corporate social responsibility within commercial banks. The content analysis of 10 commercial banks composing 5 Joint Venture (JV) Banks and 5 Non Joint Venture (NJV) Banks though judgmental sampling method based on stratified sampling technique was used to extract CSR disclosure items and corporate governance factors from secondary data specifically annual report for the period of one year. T-test was employed to test the level of significance. Regression analysis was used to examine the relationship between corporate social responsibility disclosure and independent variables associated with corporate governance practices. The study reveals that different variables associated with corporate governance practices are positively and significantly correlated with the level of corporate social responsibility initiatives based on all three models. The paper is useful to organization and statutory bodies to take consideration of corporate governance practices which will enhance corporate social responsibility initiatives.Journal of Nepalese Business Studies Vol. 9, No. 1, 2015 pp.137-144

scholarly journals Corporate Social Responsibility and good Corporate Governance practices in Spanish Ethical Mutual Funds: Analysis of investee companies

Innovar ◽  
2017 ◽  
Vol 27 (65) ◽  
pp. 139-151
Author(s):  
Francisco José López Arceiz ◽  
Ana José Bellosta
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Markets ◽  
Organizational Structure ◽  
Mutual Funds ◽  
Good Practices ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
Corporate Social

Ethical Mutual Funds (EMF) stand out for their investments in companies that develop strategies based on Corporate Social Responsibility (CSR) through good practices of Corporate Governance (CG). The aim of this paper is to analyze the types of companies that make up the portfolio of Spanish EMF, taking into account their cg model, their organizational structure and their economic and financial aspects. The results obtained show that the Spanish EMF prefer companies that promote the participation of stakeholders in their organizational structure and accessibility to their information. Additional evidence shows that the development of good cg practices in the context of CSR favors access to financing provided by financial markets and, within them, the EMF.

scholarly journals Corporate governance systems and sustainability: CSR as a factor of convergence between outsider and insider systems

2016 ◽  
Vol 14 (1) ◽  
pp. 139-150 ◽  
Author(s):  
Daniela M. Salvioni ◽  
Simona Franzoni ◽  
Francesca Gennari
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Internal Control ◽  
Capital Mobility ◽  
Social Risk ◽  
Governance Systems ◽  
Sustainable Value ◽  
Corporate Social ◽  
And Control

In an era of increasing capital mobility and globalisation, the growing integration of financial markets seems to be a key factor of corporate governance convergence. One of the most striking differences between corporate governance systems of different countries is the dissimilarity in the firms’ ownership and control that exists across countries. According to the degree of ownership and control, corporate governance systems can be distinguished in outsider systems (characterised by wide dispersed ownership) and insider systems (characterised by concentrated ownership). The transition from a governance approach founded on the shareholder view and oriented to the optimization of economic performance to a policy founded on the stakeholder view and oriented to the appreciation of the interdependence among economic, social and environmental responsibility, seems to be a factor of de facto convergence between outsider and insider systems of corporate governance. The main finding of this chapter is that the effective integration of CSR, sustainability and leadership makes easier the convergence between insider and outsider corporate governance systems. Leadership starts at board level. Corporate social responsibility (CSR) and sustainability require good corporate governance, grounded on stakeholder engagement, fairness, transparency and accountability. All these principles are related with more externally focused boards and determine a governance approach directed to the growth of sustainable value. In light of the above, this chapter will consider how the social responsibility and the role of the leaders (CEOs, Board of Directors, managers, etc.) can determine a governance approach directed to the growth of sustainable value over time. This is possible through the exploitation of opportunities and the economic and social risk management with which the companies should compete. The achievement of sustainability leadership requires significant changes in the operational guidelines and critical factors for company’s success and it imposes the improvement of the internal control systems intended to provide essential support for responsible governance. Therefore, leadership aiming at sustainability (regardless of the corporate governance system) requires CSR to be transferred from top management to the entire organisation, increasing the ability to manage complexity with respect to articulated goals. So, the corporate social responsibility, if properly realized, tends to be a factor of substantial convergence between the different existing systems of corporate governance.

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