scholarly journals Corporate governance features among European Union countries – an exploratory analysis

2021 ◽  
Vol 13 (1) ◽  
pp. 79-91
Author(s):  
IUSTINA ALINA BOITAN ◽  
◽  
EWA WANDA MARUSZEWSKA ◽  
Keyword(s):  
European Union ◽  
Cluster Analysis ◽  
Corporate Governance ◽  
Capital Market ◽  
Institutional Environment ◽  
Country Level ◽  
European Union Countries ◽  
Governance Practices ◽  
Cross Country ◽  
High Level

This study investigates European Union countriesí di§erences and similarities referring to corporate governance treated as (1) an external tool to overcome the conáict of interest described by the agency theory, and as (2) a result of an institutional environment. We conduct a cluster analysis and uncover an increased cross-country heterogeneity. Our Öndings might be of interest to European capital market investors. Differentiating between low-level corporate governance countries and high-level corporate governance countries may also be of regulatorsí interests who should search for other means to improve country-level corporate governance practices.

Determinants of Variation in IPO Underpricing

2018 ◽  
pp. 80-107
Author(s):  
Thomas Boulton ◽  
Scott Smart ◽  
Chad Zutter
Keyword(s):  
Corporate Governance ◽  
Cross Section ◽  
High Variability ◽  
Current Evidence ◽  
Future Research ◽  
Ipo Underpricing ◽  
Country Level ◽  
The World ◽  
Governance Practices ◽  
Cross Country

From 1998 to 2014, average IPO underpricing at the country level ranged from 1.2% in Argentina to 69.7% in China. What factors account for the high variability of IPO underpricing in the international cross section? This chapter reviews research attempting to answer that question. The chapter begins by providing current evidence on the extent to which IPO underpricing varies internationally. It then focuses on research that ties international underpricing differences to disclosure regulations and practices around the world. Next, the authors evaluate studies that attribute cross-country variation in underpricing in part to differences in corporate governance practices and legal institutions. The chapter concludes with some thoughts about directions for future research in this field.

Turkish Corporate Governance Regime

2016 ◽  
pp. 303-318
Author(s):  
Beyza Oba
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
International Monetary Fund ◽  
Legal System ◽  
Capital Market ◽  
Institutional Environment ◽  
Business Association ◽  
Governance Regime ◽  
Governance Practices ◽  
The International Monetary Fund

This chapter focuses on the characteristics of Turkish corporate governance regime with an emphasis on the dominant characteristics of emerging economies. In Turkey, corporate governance practices were introduced as a precondition of the International Monetary Fund (IMF) rescue package in and around the 2001 financial crisis. Governance practices were enforced by World Bank (WB) and were supported by the TUSIAD (Turkish Industry and Business Association). While OECD-based governance principles were drafted by the Capital Market Board (CMB) their implementation has gone through modifications that are characterized by the institutional environment, the culture and legal system in which they were embedded and accordingly, today corporate governance practices, especially the board structuring and transparency routines reflect this local milieu.

National Culture and Corporate Governance

2015 ◽  
Vol 15 (3) ◽  
pp. 67-96 ◽  
Author(s):  
Hong K. Duong ◽  
Helen Kang ◽  
Stephen B. Salter
Keyword(s):  
Corporate Governance ◽  
National Culture ◽  
Hierarchical Linear Modeling ◽  
Economic Institutions ◽  
Linear Modeling ◽  
Firm Level ◽  
Country Level ◽  
Preference Index ◽  
Cross Country ◽  
Robust Evidence

ABSTRACT This paper examines the influence of national culture on corporate governance. We postulate that national culture can shape the contracting environments by serving as an informal constraint that affects incentives and choices in corporate governance. We hypothesize that national culture can explain cross-country variations in corporate governance after controlling for legal, political, financial, and economic institutions. We develop a Rule Preference Index as a proxy of national culture for a sample of 12,909 firm-year observations from 41 countries. Employing a hierarchical linear modeling approach to isolate the effects of firm-level and country-level variables, we find robust evidence that firms (and countries) with a higher Rule Preference Index tend to have better corporate governance.

Corporate Governance and Accountability in the Age of Multilevel Governance in Turkey

2019 ◽  
pp. 117-139
Author(s):  
Gülşah Atağan
Keyword(s):  
Corporate Governance ◽  
Financial Markets ◽  
Capital Markets ◽  
Capital Market ◽  
Multilevel Governance ◽  
Governance Environment ◽  
Commercial Code ◽  
Governance Practices ◽  
Turkish Commercial Code ◽  
Legal Infrastructure

Corporate governance and accountability are getting more and more important both for world and Turkish economies thanks to increasing competitiveness conditions among companies. Applications of corporate governance principles can show differences from country to country. In Turkey, The Capital Markets Board issued corporate governance principles in 2003 to improve the corporate governance environment and integrate the Turkish capital market with global financial markets. The board has also adopted these principles in 2005 and made them final. The new Turkish Commercial Code is based on corporate governance principles. The new Turkish Commercial Code constitutes the legal infrastructure for corporate governance practices.

scholarly journals Higher education in the EU countries: comparative geographical analysis

2019 ◽  
Vol 69 ◽  
pp. 00131
Author(s):  
Marina Voronina
Keyword(s):  
Higher Education ◽  
European Union ◽  
Comparative Analysis ◽  
University Students ◽  
Age Structure ◽  
Faculty Members ◽  
The European Union ◽  
Country Level ◽  
Cross Country ◽  
The Eu

The article analyzes indicators of higher education in the European Union: the number of higher education institutions; the number of university students; changes in the number of faculty members, age structure; higher education expenses; cost of training one student. A similar study was conducted by the author in 2006. The article provides a comparative analysis of indicators for 2001-2016. The analysis uses data from EUROSTAT which were interpreted at the cross-country level.

Diversity in the use of information and communication technologies among European Union countries

2020 ◽  
Vol 65 (8) ◽  
pp. 39-56
Author(s):  
Jolanta Wojnar
Keyword(s):  
European Union ◽  
Cluster Analysis ◽  
Eastern Europe ◽  
Information And Communication Technologies ◽  
Communication Technologies ◽  
Method Of Principal Components ◽  
European Union Countries ◽  
Information And Communication ◽  
South Eastern Europe ◽  
Components Analysis

The aim of the research discussed in the article is to assess the diversity among European Union countries in terms of the use of information and communication technologies (ICT). Fifteen indicators describing the use of ICT by natural persons and households were selected for the analysis. The data were obtained from Statistics Poland reports and from the Eurostat database for the year 2017. The method of principal components analysis was applied in the process of analysing the diversity. Moreover, a cluster analysis based on the k-means method was performed. The analysis demonstrates that Scandinavian and Benelux countries are the leaders in using ICT, while countries of southern and south-eastern Europe as well as Poland are the lowest rated.

scholarly journals Categorization of corporate taxation in the European Union countries using cluster analysis: a comparative study

2016 ◽  
Vol 160 (7-8) ◽  
pp. 4-8 ◽  
Author(s):  
Lucia Mihokova ◽  
◽  
Alena Andrejovska ◽  
Slavomira Martinkova ◽  
◽  
...  
Keyword(s):  
European Union ◽  
Cluster Analysis ◽  
Comparative Study ◽  
Corporate Taxation ◽  
The European Union ◽  
European Union Countries

scholarly journals Corporate Governance Practices and Capital Structure: Evidence from Malaysian Capital Market

2021 ◽  
Vol 11 (14) ◽  
Author(s):  
Nazaria Binti Md. Aris ◽  
Suzila Binti Mohamed Yusof ◽  
Kerk Yee Xuan ◽  
Nurul Syuhada Binti Zaidi ◽  
Ahmad Syubaili Bin Mohamed
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Capital Market ◽  
Governance Practices

scholarly journals Risk-Antecedents of Firms and Strategic Mediators – New Evidence from a Cross-Country Analysis

2021 ◽  
Vol 24 (1) ◽  
pp. 3-35
Author(s):  
Ranjan DasGupta ◽  
Monika Dhochak
Keyword(s):  
Corporate Governance ◽  
Emerging Market ◽  
Empirical Literature ◽  
Mediating Effects ◽  
Firm Risk ◽  
Firm Level ◽  
Country Level ◽  
Country Analysis ◽  
Cross Country ◽  
New Evidence

We examine the strength and nature of firm aspiration and expectation as strategic mediators in the association of risk antecedents and firm risk, after exploring the possible impact of such antecedents on firm aspiration, and firm aspiration’s preliminary influence on firm risk. Empirical literature is mostly silent about risk antecedents of firms in an emerging market or cross-country context, and to the best of our knowledge, the mediators proposed in this study are yet to be explored. We report strong significant positive mediating effects of firm aspiration and expectation in association of risk antecedents and firm risk. Our results also validate that all studied risk antecedents, except corporate governance- composition, significantly influence aspiration and expectation mediators and firm risk in line with our hypotheses. Our results also hold true after controlling for firm-level and country-level heterogeneities and conducting two additional robustness tests.

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