scholarly journals Regulations of corporate internal control based on performance assessment of the chief executive officer

2021 ◽  
pp. 21-33
Author(s):  
Larisa Kudin
Keyword(s):  
Performance Assessment ◽  
Board Of Directors ◽  
Development Strategy ◽  
Chief Executive Officer ◽  
Internal Control ◽  
Performance Indicators ◽  
Dynamic Capabilities ◽  
Methodological Approach ◽  
Chief Executive ◽  
Theoretical Approaches

The subject of this article is the corporate internal control processes. Internal control plays an important role in activity of the company and is based upon the principles of respecting the interests of all stakeholders, scope of the rights and obligations of shareholders, top managers and the board of directors. Since the chief executive officer is the key figure responsible for the implementation of development strategy, the goal of this research consists in working out the performance indicators of the CEO. The author explores the following theoretical approaches: system of balanced indicators, prism of performance, stakeholder theory, and theory of dynamic capabilities. Special attention is given to dependence of performance of the CEO to his compensation. For implementation of the effective mechanism of internal control, it is proposed to develop the performance indicators of the CEO, taking into account the interests of stakeholders: board of directors, investors, creditors, employees, clients, vendors, and company. In outlining the goals and tasks of activity of the chief executive officer, the expectations of the stakeholders should be considered. The author develops the matrix of key performance indicators for the CEO in the context of stakeholders. The scientific novelty consists in the proposed original methodological approach towards performance assessment of the chief executive officer, the peculiarity of which is lies in comprehensive application of the system of balanced indicators and comparative market efficiency of a corporation.

scholarly journals Impact of Board of Directors on Performance of Brazilian Banks

2021 ◽  
Vol 12 (3) ◽  
pp. 42
Author(s):  
Rodolfo Fialho Perondi ◽  
Bento Alves da Costa Filho ◽  
Alcido Elenor Wander
Keyword(s):  
Board Of Directors ◽  
Financial Institutions ◽  
Chief Executive Officer ◽  
Performance Indicators ◽  
Boards Of Directors ◽  
Chief Executive ◽  
Securities And Exchange Commission ◽  
Independent Directors ◽  
Return On Assets ◽  
Return On Equity

The objective of this paper is to verify if the performance of Brazilian banks was impacted by the characteristics of their boards of directors in the period from 2010 to 2016. Performance indicators were defined as the Return on Assets (ROA) and Return on Equity (ROE) indicators, widely used in bank surveys. To accomplish the objective, a sample of twenty-nine financial institutions registered at the Securities and Exchange Commission (CVM) was selected. Results showed that the variables representing the influences exerted by the board include the number of directors and percentage of female members is significant to explain Return on Assets (ROA), while the variables average age of the directors, the percentage of independent directors, and segregation of the functions of chairman and chief executive officer, are significant in explaining Return on Equity (ROE).

4 SIAC Corporate Structure

2018 ◽  
Author(s):  
Choong John
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Chief Executive ◽  
International Arbitration ◽  
Corporate Structure ◽  
The Board Of Directors

This chapter discusses the corporate structure of the Singapore International Arbitration Centre (SIAC). The SIAC administers arbitrations for which it is responsible by appointing arbitrators, managing the financial and practical aspects of cases, carrying out supervisory functions entrusted by the SIAC Rules, and scrutinizing and issuing awards. It performs these roles through the following organs: (a) the board of directors, which is under the supervision of a chairman; (b) the SIAC Court, which is led by a president; (c) the chief executive officer; and (d) the secretariat, which includes the registrar. In addition, the SIAC has three overseas liaison offices which do not administer cases but promote the SIAC as an arbitral institution.

scholarly journals Methodological approach to economic analysis and control of enterprises under conditions of economic systems transformation

2021 ◽  
pp. 150-157
Author(s):  
A Viknianska ◽  
D Kharynovych-Yavorska ◽  
M Sahaidak ◽  
A Zhavoronok ◽  
V Filippov
Keyword(s):  
Economic Analysis ◽  
Development Strategy ◽  
Internal Control ◽  
Scoring System ◽  
Information Technologies ◽  
Business Processes ◽  
Methodological Approach ◽  
Complex Model ◽  
Integrated System ◽  
Systems Transformation

Purpose. To substantiate the methodological approach to the development of research components of the integrated system of complex economic analysis and internal control of the enterprise. Methodology. The main methods of this research are statistical methods, the latter being used for processing of statistic data; methods of formalization and mathematical simulation used for development of conceptual analysis base to control the enterprises activity. Findings. A complex model of diagnostics of enterprises activity in a competitive environment is proposed, which is based on the methodology of complex economic analysis with the use of financial and non-financial indicators. To assess the competitive advantages of the enterprise, we offer an algorithm to calculate an integrated indicator of the level of its competitiveness using a balanced scoring system. Originality. In the course of research, the scientific and methodological approach to a complex evaluation of influence of a research component on development of competitive strategy of the enterprise was developed. Unlike the existing ones, this approach involves: - development of an integrated system of complex economic analysis and internal control over business processes of enterprises with the use of modern information technologies, which allows assessing their competitiveness, forming a development strategy; - methodical procedures of internal control of the enterprise with the use of financial and operational budgets and management reports based on a balanced scoring system, using CVP-analysis, which allows forming flexible budgets. Practical value. The results of the study can be used by practitioners, scientists, government officials to monitor the development of the corporate architecture, to study enterprise development processes.

The Role of the Chairman at Meetings of Directors

2020 ◽  
Author(s):  
Leslie Kosmin ◽  
Catherine Roberts
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Chief Executive ◽  
Board Meeting ◽  
Timely Manner ◽  
Management Decisions ◽  
The Board Of Directors ◽  
Important Position ◽  
A Company

It is usual for a valid board meeting to be chaired by one of the directors who will act as the chairman of the board. The chairman is the person who has control of the conduct of the meeting. The person who occupies the position of chairman of the board of directors holds an important position in the hierarchy of a company. It is the responsibility of the chairman to manage the board meeting and, in consultation with the chief executive officer and the company secretary, to set the agenda for board meetings. In managing a board meeting a chairman must ensure that all members of the board receive accurate and proper information in a timely manner so as to enable them to take informed management decisions.

scholarly journals Achieving useful data analytics for marketing: Discrepancies in information quality for producers and users of information

2021 ◽  
pp. 234094442199634
Author(s):  
Manuel Morales-Serazzi ◽  
Óscar González-Benito ◽  
Mercedes Martos-Partal
Keyword(s):  
Information Technology ◽  
Chief Executive Officer ◽  
Data Analytics ◽  
Information Quality ◽  
Methodological Approach ◽  
Chief Executive ◽  
Jel Classification ◽  
Marketing Plan ◽  
Determining Factor

This study proposes as a key cause of the high failure rates in the implementation of analytical projects for marketing decisions, the discrepancy in the information quality (DIQ) perceived between producers (information technology [IT]) and users (marketing) of knowledge. Given that the DIQ between agents is a determining factor in the success of the ability to data analytics, this study focuses on examining this concept and its causes, specifically the resources related to data analytics that influence DIQ. The results of the surveys carried out with the IT and marketing managers of 95 companies in Spain, analyzed with a comparative methodological approach (dyadic), reveal the sources of the discrepancy, namely, the quality of the data, the technological capabilities, the talent, Chief Executive Officer (CEO) support, and alignment of the data plan with the marketing plan. JEL CLASSIFICATION M31; M15; D82; L10

scholarly journals Hostile Takeover Bids: Defensive Strategies

2000 ◽  
Vol 38 (1) ◽  
pp. 111
Author(s):  
Richard A. Shaw
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Oil And Gas ◽  
Chief Executive ◽  
Hostile Takeover ◽  
Special Committee ◽  
Defensive Strategy ◽  
Defensive Strategies ◽  
Takeover Bids ◽  
Oil And Gas Companies

This article, after noting that many oil and gas companies are vulnerable to takeovers and that merger transactions are reaching record-breaking dollar volumes, examines and recommends steps that a corporation may take when facing a hostile takeover bid. These steps are defensive strategies that a chief executive officer, a board of directors, and other players should consider implementing when handling a merger. Recommended strategies for a corporation facing a takeover situation include creating a special committee, choosing appropriate financial and legal advisors, establishing a data room, and seeking other potential buyers. The author concludes that a successful defensive strategy can maximize value for a corporation's shareholders.

The Compliance Function

2015 ◽  
Author(s):  
Geoffrey Parsons Miller
Keyword(s):  
Law Enforcement ◽  
Board Of Directors ◽  
Internal Control ◽  
Chief Executive ◽  
Chief Financial Officer ◽  
Compliance Function ◽  
Compliance Programs ◽  
The Board Of Directors ◽  
Compliance Program ◽  
Compliance Officer

This chapter discusses the compliance function, a form of internalized law enforcement employed by corporations and other complex organizations to ensure that employees and others associated with the firm do not violate applicable rules, regulations or norms. It first examines compliance within a general theory of enforcement. It considers the concept of internal control, the development of the compliance function and its distribution among control personnel, and compliance programs, policies, and contracts within an organization. It then analyzes the oversight obligations of the board of directors and the management team including the chief executive officer, the chief financial officer, the chief compliance officer, the chief legal officer, and the chief risk officer. It also outlines the elements of a robust compliance program and concludes by considering internal investigations, whistleblowers, criminal enforcement, compliance outside the firm, and business ethics beyond formal compliance.

IMPACT OF REVENUE ACCOUNTING POLICIES ON KEY PERFORMANCE INDICATORS

2021 ◽  
Vol 2 (3) ◽  
pp. 16-23
Author(s):  
G. A. ARUTYUNYAN ◽  
◽  
M. A. VAKHRUSHINA ◽  
Keyword(s):  
Internal Control ◽  
Performance Indicators ◽  
Business Strategy ◽  
Performance Indicator ◽  
Management Accounting ◽  
Key Performance Indicators ◽  
Theoretical Approaches ◽  
A Performance

The article highlights the theoretical approaches for determination of a performance indicator as a tool for management accounting and internal control of a business, on the basis of which various decisions regarding business strategy and personnel motivation may be made. The analysis showed that it is important not only the approach of their definition, but also the data for determination of these indicators. The article provides recommendations for the preparation of accounting policies for revenue accounting in accordance with IFRS 15, which may significantly affect the performance indicators of the company.

The Pransky interview: Dr Gary Guthart, chief executive officer, Intuitive

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joanne Pransky
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Large Scale ◽  
Industrial Robot ◽  
Chief Executive ◽  
Lessons Learned ◽  
Content Type ◽  
Chief Operating Officer ◽  
California Institute Of Technology ◽  
The Board Of Directors

Purpose The following paper is a “Q&A interview” conducted by Joanne Pransky of Industrial Robot Journal as a method to impart the combined technological, business and personal experience of a prominent, robotic industry turned successful business leader, regarding the commercialization and challenges of bringing technological inventions to market while overseeing a company. This paper aims to discuss these issues. Design/methodology/approach The interviewee is Dr Gary Guthart, Chief Executive Officer (CEO) at Intuitive Surgical, Inc., and a member of the Board of Directors, both roles he has held since 2010. Guthart discusses his journey to becoming the CEO and also shares some of his lessons learned and challenges faced. Findings Guthart received a bachelor’s degree in engineering physics from California, Berkeley. He earned an MS and a PhD in engineering from the California Institute of Technology. Guthart’s first scientific experience came early in his career in a Human Factors Lab at NASA, supporting a team studying human performance assessment of pilots. Guthart was then part of the core team developing foundational technology for computer-enhanced surgery at SRI International. While at SRI, he also developed algorithms for vibration and acoustic control of large-scale systems. Guthart joined Intuitive Surgical as part of the first engineering team in 1996 as a Control Systems Analyst. He was promoted to Vice President of Engineering in 2002 and was appointed President and Chief Operating Officer in 2008. Originality/value Under Dr Gary Guthart’s leadership and his more than 25 years of medical technology, engineering, scientific and management experience, Intuitive Surgical, Inc., the world’s most successful medical robotics company, has grown to: more than 8,000 employees; nearly 6,000 da Vinci systems sold; more than 8.5 million procedures performed and an increase in stock (NASDAQ: ISRG) of more than 600%. Guthart is also on the Board of Directors for Illumina, Inc., and a member of the Board of Directors for the Silicon Leadership Group.

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