scholarly journals An Empirical Study on Multiple Corporate Directorships in New Zealand: A New Interpretation of Selected Governance Theories

2021 ◽  
Author(s):  
◽  
Mosammet Jahan
Keyword(s):  
New Zealand ◽  
Firm Performance ◽  
Resource Dependence ◽  
Institutional Environment ◽  
Causal Effect ◽  
Performance Outcomes ◽  
Policy Implications ◽  
Small Scale ◽  
Agency Conflicts ◽  
Critical Resources

<p>This thesis contributes to the literature on Multiple Directorships (MDS) by providing new evidence that prestigious MDS are value enhancing relative to non-prestigious MDS for New Zealand listed companies. The recent debate surrounding the reasons for including multiple (busy) directors on the board as well as the diverse conclusions of prior studies on MDS draw attention to the fact that theoretically-informed possibilities of MDS are yet to be explored, especially in a setting where the higher incidence of MDS has been driven by a unique institutional environment. New Zealand is one example of such a setting.  To explore one aspect of these issues, this research first asks whether there are firm ‘performance’ differences between prestigious MDS and non-prestigious MDS. The results of initial tests show that prestigious MDS have a positive influence on performance outcomes for their organizations, while there is a negative or no significant relationship between non-prestigious MDS and firm performance. These results also suggest a one-way causal effect of prestigious MDS on firm performance.  Having determined the better value of prestigious MDS, the subsequent and primary question of this thesis is to explore ‘why’ differences may exist between the two categories of MDS. Three corporate governance theories, namely, Resource Dependence, Agency and Managerial Hegemony are employed to differentiate, and thus to help explain, the sources of prestigious MDS success. The results of the second set of tests reveal that the differences between prestigious and non-prestigious MDS can primarily be explained by firms’ needs for easier acquisition of critical resources, which are often associated with the level of agency conflicts and the presence of powerful CEOs.  Empirical evidence then suggests that prestigious MDS potentially create value for New Zealand companies in terms of facilitating access to critical resources and minimizing agency conflicts as well as CEO influence on board oversight. The findings have potential policy implications, especially in an export-oriented economy with geographic isolation and small scale of population, such as New Zealand. Regulators, for instance, the Financial Markets Authority and Institute of Directors should be mindful of the need to retain expert (prestigious) directors and cautiously evaluate before initiating any new regulation regarding MDS.</p>

scholarly journals An Empirical Study on Multiple Corporate Directorships in New Zealand: A New Interpretation of Selected Governance Theories

2021 ◽  
Author(s):  
◽  
Mosammet Jahan
Keyword(s):  
New Zealand ◽  
Firm Performance ◽  
Resource Dependence ◽  
Institutional Environment ◽  
Causal Effect ◽  
Performance Outcomes ◽  
Policy Implications ◽  
Small Scale ◽  
Agency Conflicts ◽  
Critical Resources

<p>This thesis contributes to the literature on Multiple Directorships (MDS) by providing new evidence that prestigious MDS are value enhancing relative to non-prestigious MDS for New Zealand listed companies. The recent debate surrounding the reasons for including multiple (busy) directors on the board as well as the diverse conclusions of prior studies on MDS draw attention to the fact that theoretically-informed possibilities of MDS are yet to be explored, especially in a setting where the higher incidence of MDS has been driven by a unique institutional environment. New Zealand is one example of such a setting.  To explore one aspect of these issues, this research first asks whether there are firm ‘performance’ differences between prestigious MDS and non-prestigious MDS. The results of initial tests show that prestigious MDS have a positive influence on performance outcomes for their organizations, while there is a negative or no significant relationship between non-prestigious MDS and firm performance. These results also suggest a one-way causal effect of prestigious MDS on firm performance.  Having determined the better value of prestigious MDS, the subsequent and primary question of this thesis is to explore ‘why’ differences may exist between the two categories of MDS. Three corporate governance theories, namely, Resource Dependence, Agency and Managerial Hegemony are employed to differentiate, and thus to help explain, the sources of prestigious MDS success. The results of the second set of tests reveal that the differences between prestigious and non-prestigious MDS can primarily be explained by firms’ needs for easier acquisition of critical resources, which are often associated with the level of agency conflicts and the presence of powerful CEOs.  Empirical evidence then suggests that prestigious MDS potentially create value for New Zealand companies in terms of facilitating access to critical resources and minimizing agency conflicts as well as CEO influence on board oversight. The findings have potential policy implications, especially in an export-oriented economy with geographic isolation and small scale of population, such as New Zealand. Regulators, for instance, the Financial Markets Authority and Institute of Directors should be mindful of the need to retain expert (prestigious) directors and cautiously evaluate before initiating any new regulation regarding MDS.</p>

scholarly journals BUSINESS REGISTRATION AND FIRM PERFORMANCE: SOME LESSONS FROM INDIA

2016 ◽  
Vol 21 (03) ◽  
pp. 1650016 ◽  
Author(s):  
COLIN C WILLIAMS ◽  
ABBI M. KEDIR
Keyword(s):  
Firm Performance ◽  
World Bank ◽  
Institutional Environment ◽  
Policy Implications ◽  
Performance Reporting ◽  
Start Up ◽  
Tentative Explanation ◽  
World Bank Enterprise Survey ◽  
Enterprise Survey ◽  
Productivity Gains

The aim of this paper is to evaluate the impacts on future firm performance of a firm deciding to register from the outset of its operations. Until now, the assumption has been that starting up registered is linked to higher future firm performance. Reporting World Bank Enterprise Survey (WBES) data collected in 2014 on 9,281 formal enterprises in India, and controlling for other determinants of firm performance as well as the endogeneity of the registration decision, the finding is that formal enterprises that start up unregistered and spend longer unregistered have significantly higher subsequent annual sales and employment growth rates compared with those registered from the outset. When the number of years spent unregistered is included, there are also productivity gains from delaying registration. The tentative explanation is that in this weak institutional environment, the advantages of registering from the outset are outweighed by the benefits of deferring registration. Evaluating the policy implications, the argument is that there is a need to shift away from the conventional eradication approach toward unregistered startups based on the assumption they are unproductive, and toward a more facilitating approach that improves the benefits of being registered and tackles the systemic formal institutional deficiencies that lead entrepreneurs to delay their decision to register.

Paradoxes in supplier’s uptake of GSCM practices: institutional drivers and buyer dependency

2019 ◽  
Vol 31 (3) ◽  
pp. 479-500
Author(s):  
Sajad Fayezi ◽  
Rebecca Stekelorum ◽  
Jamal El Baz ◽  
Issam Laguir
Keyword(s):  
Resource Dependence ◽  
Institutional Environment ◽  
Resource Dependence Theory ◽  
Performance Outcomes ◽  
Equation Modeling ◽  
Content Type ◽  
And Performance ◽  
The Impact ◽  
Institutional Drivers

Purpose The purpose of this paper is to investigate the impact of institutional drivers and buyer dependency on green supply chain management (GSCM) practices and performance of suppliers. Design/methodology/approach The authors draw on institutional theory and resource dependence theory to construct a conceptual model than links institutional drivers, GSCM practices, buyer dependency and performance outcomes. The authors test the hypotheses using partial least squares structural equation modeling applied to a sample of suppliers in the Australian manufacturing sector. Findings The results confirm that suppliers develop GSCM practices of green sourcing and eco-design to enhance their performance in response to both coercive forces and voluntary behaviors of their institutional environment. However, buyer dependence of suppliers explains important paradoxes in their uptake of GSCM practices. For example, while the institutional drivers encourage greater adoption of green sourcing by suppliers, increase in buyer dependence in turn reduces the positive performance outcome of green sourcing. Practical implications The authors establish that understanding and assessment of the role of buyer dependency is critical for managers in charge of GSCM practices of their company. This enables practitioners to proactively manage paradoxes resulting from institutional drivers and buyer dependency through an informed decision on the type of GSCM practice to be adopted for effectuating performance improvement. Originality/value The authors provide empirical evidence on paradoxes that curtail performance associated with the uptake of GSCM practices by suppliers moving beyond institutional environment by considering the role of buyer dependency.

scholarly journals Insider Ownership And Firm Performance: A Resource Dependence Perspective

2015 ◽  
Vol 31 (3) ◽  
pp. 861 ◽  
Author(s):  
Te-Kuang Chou
Keyword(s):  
Firm Performance ◽  
Large Scale ◽  
Resource Dependence ◽  
Empirical Relationship ◽  
Low Complexity ◽  
Resource Dependence Theory ◽  
Small Scale ◽  
Insider Ownership ◽  
Industrial Settings

<p>The purpose of this study is to examine the empirical relationship between insider ownership and firm performance. Based on resource dependence theory, this study argues that the positive convergence-of-interests effect and the negative entrenchment effect can coexist in various industrial settings.<strong> </strong>Fixed-effect panel data regression models are applied to a sample of 1,156 effective observations. To reflect the contextual role of resources, we defined industrial settings along with industrial complexity and firm scale dimensions. The empirical results supported our research hypotheses, showing that insider ownership exerts a positive effect on firm performance in a high-complexity and large-scale setting, but a negative effect in a low-complexity and small-scale setting. The results of this study imply that contextual fitness must be deliberately considered to determine effective regulations of corporate governance. In addition, this study contributes a new aspect to related discussion, which synthesizes conflicting theoretical arguments by introducing the contextual role of resources.</p>

Automatic Milking Systems: an option to address the labour shortage on New Zealand dairy farms?

2002 ◽  
pp. 39-43
Author(s):  
J.G. Jago ◽  
M.W. Woolford
Keyword(s):  
New Zealand ◽  
Dairy Industry ◽  
Research Programme ◽  
Working Hours ◽  
Dairy Farms ◽  
Small Scale ◽  
Labour Shortage ◽  
Commercial Farms ◽  
Grazing Systems ◽  
Automatic Milking Systems

There is a growing shortage of labour within the dairy industry. To address this the industry needs to attract more people and/or reduce the labour requirements on dairy farms. Current milk harvesting techniques contribute to both the labour requirements and the current labour shortage within the industry as the process is labour-intensive and necessitates long and unsociable working hours. Automated milking systems (AMS) have been in operation, albeit on a small scale, on commercial farms in Europe for a decade and may have the potential to address labour issues within the New Zealand dairy industry. A research programme has been established (The Greenfield Project) which aims to determine the feasibility of automated milking under New Zealand dairying conditions. A Fullwoods MERLIN AMS has been installed on a protoype farmlet and is successfully milking a small herd of 41 cows. Progress from the prototype Greenfields system offers considerable potential for implementing AMS in extensive grazing systems. Keywords: automated milking systems, dairy cattle, grazing, labour

Prime Ministers

2018 ◽  
Author(s):  
Patrick Weller
Keyword(s):  
New Zealand ◽  
Institutional Environment ◽  
Institutional Arrangements ◽  
Prime Ministers ◽  
Power And Influence

Prime ministers dominate, but still lose office. Why? This chapter explores the conundrum that infests debates on the prime ministers’ power and influence. It examines the ambiguous and uncertain institutional environment with its scope for initiatives and choices. It rejects normative notions of what prime ministers should do and illustrates that accusations of excessive power and ambition have been thrown at prime ministers from the very beginning. It identifies the strategy of the book: to compare institutional arrangements in four Westminster systems—Britain, Australia, Canada, and New Zealand—to see how prime ministers have chosen to define their role. It proposes tests for assessing prime ministers and for judging their performance and options.

scholarly journals How Do Women Overcome Gender Inequality by Forming Small-Scale Cooperatives? The Case of the Agricultural Sector in Uganda

2021 ◽  
Vol 13 (4) ◽  
pp. 1797
Author(s):  
Amber Theeuwen ◽  
Valérie Duplat ◽  
Christopher Wickert ◽  
Brian Tjemkes
Keyword(s):  
Developing Countries ◽  
Gender Equality ◽  
Gender Inequality ◽  
Family Business ◽  
Agricultural Sector ◽  
Economic Benefits ◽  
Policy Implications ◽  
Small Scale ◽  
Business Relationships ◽  
Female Farmers

In Uganda, the agricultural sector contributes substantially to gross domestic product. Although the involvement of Ugandan women in this sector is extensive, female farmers face significant obstacles, caused by gendering that impedes their ability to expand their family business and to generate incomes. Gender refers to social or cultural categories by which women–men relationships are conceived. In this study, we aim to investigate how gendering influences the development of business relationships in the Ugandan agricultural sector. To do so, we employed a qualitative–inductive methodology to collect unique data on the rice and cassava sectors. Our findings reveal at first that, in the agricultural sector in Uganda, inter-organization business relationships (i.e., between non-family actors) are mostly developed by and between men, whereas intra-organization business relationships with family members are mostly developed by women. We learn that gendering impedes women from developing inter-organization business relationships. Impediments for female farmers include their restricted mobility, the lack of trust by men, their limited freedom in communication, household duties, and responsibilities for farming activities up until sales. Our findings also reveal that these impediments to developing inter-organization business relationships prevent female farmers from being empowered and from attainting economic benefits for the family business. In this context, the results of our study show that grouping in small-scale cooperatives offers female farmers an opportunity to overcome gender inequality and to become economically emancipated. Thanks to these cooperatives, women can develop inter-organization relationships with men and other women and gain easier access to financial resources. Small-scale cooperatives can alter gendering in the long run, in favor of more gender equality and less marginalization of women. Our study responds to calls for more research on the informal economy in developing countries and brings further understanding to the effect of gendering in the Ugandan agricultural sector. We propose a theoretical framework with eight propositions bridging gendering, business relationship development, and empowerment and economic benefits. Our framework serves as a springboard for policy implications aimed at fostering gender equality in informal sectors in developing countries.

scholarly journals Whole-genome sequencing from the New Zealand Saccharomyces cerevisiae population reveals the genomic impacts of novel microbial range expansion

2020 ◽  
Vol 11 (1) ◽  
Author(s):  
Peter Higgins ◽  
Cooper A Grace ◽  
Soon A Lee ◽  
Matthew R Goddard
Keyword(s):  
Saccharomyces Cerevisiae ◽  
New Zealand ◽  
Whole Genome Sequencing ◽  
Genome Sequencing ◽  
Range Expansion ◽  
Copy Number ◽  
Small Scale ◽  
Whole Genome ◽  
Copy Number Changes ◽  
The Impact

Abstract Saccharomyces cerevisiae is extensively utilized for commercial fermentation, and is also an important biological model; however, its ecology has only recently begun to be understood. Through the use of whole-genome sequencing, the species has been characterized into a number of distinct subpopulations, defined by geographical ranges and industrial uses. Here, the whole-genome sequences of 104 New Zealand (NZ) S. cerevisiae strains, including 52 novel genomes, are analyzed alongside 450 published sequences derived from various global locations. The impact of S. cerevisiae novel range expansion into NZ was investigated and these analyses reveal the positioning of NZ strains as a subgroup to the predominantly European/wine clade. A number of genomic differences with the European group correlate with range expansion into NZ, including 18 highly enriched single-nucleotide polymorphism (SNPs) and novel Ty1/2 insertions. While it is not possible to categorically determine if any genetic differences are due to stochastic process or the operations of natural selection, we suggest that the observation of NZ-specific copy number increases of four sugar transporter genes in the HXT family may reasonably represent an adaptation in the NZ S. cerevisiae subpopulation, and this correlates with the observations of copy number changes during adaptation in small-scale experimental evolution studies.

scholarly journals Zero Carbon Building Practices in Aotearoa New Zealand

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4455
Author(s):  
Thao Thi Phuong Bui ◽  
Suzanne Wilkinson ◽  
Niluka Domingo ◽  
Casimir MacGregor
Keyword(s):  
Climate Change ◽  
New Zealand ◽  
Construction Industry ◽  
Local Governments ◽  
Early Stage ◽  
Policy Implications ◽  
Structured Interviews ◽  
Building Projects ◽  
Aotearoa New Zealand ◽  
Zero Carbon

In the light of climate change, the drive for zero carbon buildings is known as one response to reduce greenhouse gas emissions. Within New Zealand, research on climate change mitigation and environmental impacts of buildings has received renewed attention. However, there has been no detailed investigation of zero carbon building practices. This paper undertakes an exploratory study through the use of semi-structured interviews with government representatives and construction industry experts to examine how the New Zealand construction industry plans and implements zero carbon buildings. The results show that New Zealand’s construction industry is in the early stage of transiting to a net-zero carbon built environment. Key actions to date are focused on devising a way for the industry to develop and deliver zero carbon building projects. Central and local governments play a leading role in driving zero carbon initiatives. Leading construction firms intend to maximise the carbon reduction in building projects by developing a roadmap to achieve the carbon target by 2050 and rethinking the way of designing and constructing buildings. The research results provide an insight into the initial practices and policy implications for the uptake of zero carbon buildings in Aotearoa New Zealand.

Board Characteristics and Firm Performance: Indian Textiles Sector Panorama

2021 ◽  
pp. 0258042X2110261
Author(s):  
Mukesh Nepal ◽  
Rajat Deb
Keyword(s):  
Firm Performance ◽  
Positive Association ◽  
Policy Implications ◽  
Board Independence ◽  
Board Size ◽  
Significant Positive Association ◽  
Jel Codes ◽  
Financial Measures ◽  
Panel Data Regression ◽  
Data Regression

The study has attempted to examine whether the board size and board independence have any impact on the financial performances of the Indian textile firms. Accessing the data of the 40 sample firms representing the top 100 BSE-listed textile firms during the timeline 2015–2019 and applying the panel data regression model, it has assessed the impacts. Accounting- and market-based financial measures have been proxied, and a significant positive association between the board size and firm performance has been established. Interestingly, a significant inverse relationship between the board independence and financial performance has also been indicated. It has concurred policy implications as the inclusion of more number of board members would likely to increase the firm performance. Moreover, for improving the sound decision-making, firms may chalk out a policy with capping on the engagement of independent directors in other firms. It has acknowledged a few limitations and has sketched a roadmap for posterior studies as well. JEL Codes: G28, G30, M40

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