scholarly journals A Set of International OECD and ICGN Corporate Governance Standards After Financial Crisis, Corporate Scandals and Manipulation - Applications for Nigeria and Implications for Developing Countries

Management ◽  
2020 ◽  
Vol 24 (1) ◽  
pp. 56-80
Author(s):  
Dinh Tran Ngoc Huy ◽  
Nguyen Thi Thuy ◽  
Le Thi My Phuong ◽  
Pham Minh Dat ◽  
Vu Trung Dung ◽  
...  
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Financial Crisis ◽  
Analytical Approach ◽  
International Standards ◽  
Governance System ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
Policy Suggestions ◽  
Group 1

SummaryA statement by ACCA in May 2009 that any corporate governance system should consider factors such as transparency, accountability, fairness and responsibility, raises issues in this field over past few years. There are also a few researches which have been done in the field of international corporate governance standards. This paper chooses a different analytical approach and among its aims is to give some certain systematic conclusions.First, it separates international standards into groups: ICGN and OECD latest principles covered in group 1 while it uses ACCA principles as reference.Second, it identified differences between these above set of standards which are and have been used as reference principles for many countries and organizations.Third, it aims to build a selected comparative set of standards for corporate governance system in accordance to international standards.Last but not least, this paper illustrates some ideas and policy suggestions.

scholarly journals The Critical Analysis of Some Comparative Eastern Africa Corporate Governance Standards After Financial Crisis, Corporate Scandals and Manipulation

2021 ◽  
Vol 1 (1) ◽  
pp. 54-63
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Corporate Governance ◽  
Internal Control ◽  
Eastern Africa ◽  
Governance System ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
Policy Suggestions ◽  
Internal Control System ◽  
Group 2 ◽  
Group 1

Even though corporate scandals and bankruptcy in US and Europe and Asia show some certain evidence on weak corporate governance, weak internal control system and weak audit, Global corporate governance forum noted corporate governance has become an issue of worldwide importance. Therefore, this paper chooses a different analytical approach and among its aims is to give some systematic opinions.First, it classifies Eastern Africa representative corporate governance (CG) standards into two (2) groups: Malawi and Kenya latest CG principles covered in group 1 and, group 2, including corporate governance guidelines from EVCA 2005, so-called relative good CGgroup, while it uses ACCA and CFA principles as reference. Second, it , through analysis, shows differences between above set of standards which are and have been used as reference principles for many relevant organizations. Third, it establishes a selected comparative set of standards for Eastern Africa representative corporate governance system in accordance to international standards.Last but not least, this paper covers some ideas and policy suggestions.

scholarly journals The Analysis of Limited South Asian Corporate Governance Standards after Financial Crisis-Cases in India and Malaysia

2020 ◽  
Vol 3 (1) ◽  
Keyword(s):  
Corporate Governance ◽  
South Asian ◽  
International Standards ◽  
Corporate Structure ◽  
Governance System ◽  
Corporate Scandals ◽  
Audit System ◽  
Corporate Governance System ◽  
Code Of Corporate Governance ◽  
Governance Risk

After the recent global crisis, corporate scandals and bankruptcy in US and Europe, there is some certain evidence on weak corporate governance, risk management and audit system. The 2009 India Code of Corporate Governance also revealed that during the crisis time, there are certain weaknesses although corporate structure is fairly durable. Hence, this paper chooses a different analytical approach and among its aims is to give some systematic opinions. First, it classifies limited South Asian representative corporate governance (CG) standards into each group: India and Malaysia latest CG principles covered, so-called relative good CG group, while it uses ACCA and OECD and ICGN principles as reference. Second, it , through analysis, identifies differences and advantages between above set of standards which are and have been used as reference principles for many relevant organizations. Third, it establishes a selected comparative set of standards for South Asian representative corporate governance system in accordance to international standards. Last but not least, this paper covers some ideas and policy suggestions.

scholarly journals Evolution of German corporate governance (1995-2014): an empirical analysis

2019 ◽  
Vol 19 (5) ◽  
pp. 1042-1062
Author(s):  
Andreas Rühmkorf ◽  
Felix Spindler ◽  
Navajyoti Samanta
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Governance System ◽  
Content Type ◽  
Convergence Process ◽  
Corporate Governance System ◽  
Anglo American ◽  
The Stability ◽  
The Global Financial Crisis

Purpose This paper aims to address the evolution of corporate governance in Germany with a particular regard to whether there can be observed a gradual convergence to a shareholder primacy corporate governance system. Design/methodology/approach To investigate a potential shift of the German corporate governance system to an Anglo-American tiled corporate governance system, the authors have empirically assessed on a polynomial base 52 separate company and corporate governance variables for 20 years (1995-2014). Findings This research suggests that a gradual convergence has taken place prior to the global financial crisis. However, the results suggest that the convergence process experienced a slowdown in the aftermath of the global financial crisis, which may be linked to the stability of the German corporate governance system during the global financial crisis and the political environment during this time. Originality/value This paper contributes to the research by not only analysing the development of the German corporate governance system but also identifying new reasons for this development and explaining why a new convergence process may be observed in the future again.

scholarly journals The role of government in corporate governance: Perspectives from the UK

2011 ◽  
Vol 9 (1) ◽  
pp. 283-293 ◽  
Author(s):  
Emmanuel Adegbite ◽  
Philip Shrives ◽  
Timothy Nichol
Keyword(s):  
Corporate Governance ◽  
Self Regulation ◽  
Governance System ◽  
Role Of Government ◽  
The Public ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
The Government ◽  
The Uk

Incessant corporate failures have led to increasing governmental participation in the governance of the modern corporation. In this conceptual paper, we examine and propose that the role of government in the UK corporate governance system is four fold, namely: to enhance competitive advantage; to compensate for the failure of self-regulation; to prevent corporate scandals and restore investors’ confidence; and owing to significant public pressures and associated political undertones, to suggest to the public the government is still an effective overseer in the existing prominence of self-regulation. We contribute to the literature on corporate governance, politics, policy making and regulatory institutions, whilst raising important issues that are of practice and policy relevance.

scholarly journals Directors, auditors and secretaries roles and corporate governance system: Identity theory perspective

2014 ◽  
Vol 12 (1) ◽  
pp. 543-556
Author(s):  
Louis Osemeke
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Resource Dependence ◽  
Identity Theory ◽  
Developing Economies ◽  
The Body ◽  
Governance Mechanism ◽  
Governance System ◽  
Corporate Governance System

The interest in researching corporate governance in the broader context continues unabated. The research in this area continues to be dominated by test of agency theory in advanced capitalist economies. Few researches are seen in developing countries like Nigeria. Though there have been calls for new theories to be tested in the field of corporate governance, only few have been tested, predominantly stakeholder and resource dependence theories (Barkema and Gomez-Mejia, 1998). This paper departs from previous literature in two ways. First, it tests the identity theory. Second, it uses the case study drawing empirical data from Nigeria, an emerging economy from a developing capital market to provide insights into the corporate governance mechanisms. This study explores appropriate framework and principles governing the duties and obligations of directors, auditors and secretaries. This is crucial because there is increased reliance by the stakeholders on the three actors (directors, auditors and secretaries) as it concern corporate governance both regionally and internationally. Therefore, an exploratory case study was carried out to explore the level of development of corporate governance mechanism in developing economies like Nigeria. Despite the huge challenges, issues and bottlenecks hampering good corporate governance, the study finds growth in the number of directorships, auditors and secretaries of listed companies. Also, the study reveals the code governing the responsibilities of directors; auditors and secretaries have not produced the desired result pertaining to accountability, transparency and good corporate financial reporting. Thus this adds to the body of knowledge by contributing to the corporate governance system in developing countries

Corporate Governance in Malaysia: Issues and Challenges (Isu dan Cabaran Tadbir Urus Korporat di Malaysia)

2019 ◽  
Vol 16 (2) ◽  
pp. 232-253
Author(s):  
Nina Nurasyekin Zulkefli ◽  
SM Abdul Quddus
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Good Practice ◽  
Asian Financial Crisis ◽  
Governance System ◽  
Good Corporate Governance ◽  
Corporate Governance System ◽  
Governance Practices ◽  
Governance Institutions ◽  
Code Of Corporate Governance

Corporate governance is a set of structural process that includes the actions of directing and controlling by the authorized board of directors. In Malaysia, corporate governance is directly under the involvement of the Ministry of Finance, Bursa Malaysia, and Securities Commissions (SC) and Registrar of Company. A good reform of corporate governance in Malaysia is essential to enhance the quality of corporate governance practices after the Asian Financial Crisis 1997. The statistic shows that the low number of Malaysian companies adhered to good corporate governance practices. This poses a question of the extent to what issues and challenges faced by the Malaysian companies reluctantly to adopt a good practice of corporate governance. Hence, the Malaysian government has initiatively introduced Malaysia Code of Corporate Governance (MCCG) as a new code and rules for solving the problems of corporate governance. This study is important to ensure better management of corporate governance of companies in Malaysia, accountability, integrity, and transparency, thereby ensuring the survival of Malaysian corporate governance institutions around the world. The paper uses a qualitative approach. The findings from this study highlight that the introduction of MCCG is tantamount to solve the underpinning problems of the corporate governance system. Keywords: Corporate governance, Malaysia, MCCG, Asian Financial Crisis. Abstrak Tadbir urus korporat adalah satu set proses struktur yang merangkumi sistem penyeliaan oleh lembaga pengarah yang diberi kuasa. Di Malaysia, tadbir urus korporat adalah di bawah penglibatan Kementerian Kewangan, Bursa Malaysia, dan Suruhanjaya Sekuriti (SC) dan Suruhanjaya Syarikat Malaysia. Pembaharuan tadbir urus korporat yang baik di Malaysia adalah penting untuk meningkatkan kualiti amalan tadbir urus korporat selepas Krisis Kewangan Asia 1997. Statistik menunjukkan bahawa bilangan syarikat Malaysia yang rendah dalam mematuhi amalan tadbir urus korporat yang baik. Ini menimbulkan persoalan sejauh mana isu dan cabaran yang dihadapi oleh syarikat-syarikat di Malaysia yang enggan mengamalkan amalan tadbir urus korporat yang baik. Justeru, kerajaan Malaysia telah memperkenalkan Kod Tadbir Urus Korporat Malaysia (MCCG) sebagai kod baru dan peraturan untuk menyelesaikan masalah tadbir urus korporat. Kajian ini penting untuk memastikan pengurusan tadbir urus korporat yang lebih baik di Malaysia, akauntabiliti, integriti dan ketelusan, serta seterusnya memastikan kelangsungan institusi tadbir korporat Malaysia di seluruh dunia. Kaedah kajian adalah menggunakan pendekatan kualitatif. Dapatan kajian ini menunjukkan bahawa pengenalan MCCG adalah penting untuk menyelesaikan masalah asas sistem tadbir urus korporat. Kata Kunci: Tadbir Urus Korporat, Malaysia, MCCG, Krisis Kewangan Asia.  

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