scholarly journals Global Economic Disruption in Indonesia in Covid – 19 Pandemic

2021 ◽  
Author(s):  
Aditya Pratama
Keyword(s):  
Corporate Governance ◽  
Business Development ◽  
Market Valuation ◽  
Downward Trend ◽  
Economic Conditions ◽  
Corporate Boards ◽  
Slowing Down ◽  
Good Corporate Governance ◽  
The World ◽  
The Relationship

In the midst of uncertainty in the world today, one of the best alternatives can be used by companies to stay afloat and generate profits is by transmuting businesses and their workforce in keeping with changing information and technology developments business patterns. The downward trend in export and import values from 2015 has made business a big deal business development in Indonesia in 2018 is limited. Economic conditions in 2018 tends to be slowing down and volatile, accompanied by the uncertainty that originates of global finance.In conditions of economic disruption (until 2020), companies are required to continue innovating and creating diversified products. But in reality, there are many companies in Indonesia still don't know what action to take. From years 2016 to 2018, business competition is becoming increasingly fierce which requires leaders or corporate boards to convert company resources into values added which is beneficial for the stakeholders. This can be done as is Good Corporate Governance (GCG) which is a set of regulations organize, process, and supervise the relationship between company managers and stakeholders increase the value and market valuation of the company.

scholarly journals Exploring Linkages Between Corporate Governance and Business Performance: Does Good Corporate Governance Lead to Enhanced Business Value?

2020 ◽  
Vol 27 (1) ◽  
pp. 37-61
Author(s):  
Tirthankar Nag ◽  
Chanchal Chatterjee
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Business Performance ◽  
Stock Exchange ◽  
Random Effect ◽  
Corporate Boards ◽  
Market Returns ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
The Relationship

This study explores the influence of corporate governance practices in corporate boards on firm performance and draws insights on the relative importance for companies for fostering the development of governance mechanisms in business. The study examines 50 firms belonging to the benchmark index of the National Stock Exchange of India (NIFTY 50) and tracks them for over a five-year period. The study uses fixed and random effect econometric models to explore the relationship between corporate governance variables, and firm performance using both accounting returns (EVA, ROA and ROE) and market returns (MVA). The study finds that corporate governance variables significantly improve firm performance or value creation. Especially, multiple directorships, involvement of foreign institutional investors and increase in promoter holdings may significantly affect returns of the firm. The study suggests that it may be useful to foster better corporate governance practices and monitor linkages with firm performance as the effect is influenced by other control variables also.

IMPLEMENTASI KINERJA KEUANGAN TERHADAP NILAI SPIRITUALITAS PRIBADI

2012 ◽  
Vol 16 (3) ◽  
pp. 332
Author(s):  
Whedy Prasetyo
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Annual Report ◽  
Main Concern ◽  
Good Corporate Governance ◽  
Corporate Social ◽  
The Relationship ◽  
Personal Spirituality

Development of financial performance in the application of Good Corporate Governance and Corporate Social Responsibility which affects the values of honesty private individuals, in order to be able to run the accountability, value for money, fairness in financial management, transparency, control, and free of conflicts of interest (independence). The main concern in this study is focused on achieving value personal spirituality through the financial performance and capabilities of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) in moderating the relationship with the financial performance of value personal spirituality. This study is a descriptive verifikatif. The unit of analysis in this study was 15 companies in Indonesia with a policy that has been applied through the concept since January of 2008 until now, with the support of the annual report of the company, the company's financial statements, company reports to the disclosure of Good Corporate Governance and Corporate Social Responsibility in the annual report. Overall reports published successively during the years 2008-2011. The results of this study indicate financial performance affects the value of personal spirituality, and for variable GCG obtained results that could moderate the relationship of financial performance to the value of personal spirituality. But for the disclosure of CSR variables obtained results can’t moderate the relationship with the financial performance of personal spirituality.

scholarly journals Pengaruh Profitabilitas, Ukuran Perusahaan, Dan Good Corporate Governance Terhadap Pengungkapan Corporate Sosial Responsibilty Dan Dampaknya Terhadap Abnormal Return Pada Perusahaan LQ45

2021 ◽  
Vol 22 (1) ◽  
Author(s):  
Putri Frisca Kuncorowati ◽  
Muhammad Miqdad ◽  
Ahmad Roziq
Keyword(s):  
Corporate Governance ◽  
Data Analysis ◽  
Path Analysis ◽  
Abnormal Return ◽  
Abnormal Returns ◽  
Company Size ◽  
Analysis Study ◽  
Good Corporate Governance ◽  
Csr Disclosure ◽  
The Relationship

This study examines the effect of Profitability, Company Size, GCG on CSR disclosure and its impact on abnormal returns. The purpose of this study was to analyze the effect of Profitability, Company Size, GCG on abnormal returns and the indirect effect on CSR disclosure. The sample in this study was the LQ-45 company listed on the IDX in 2020. Data analysis used Path Analysis. The results of the path analysis study have directly shown that profitability, company size, GCG has a significant effect on CSRD with sig results less than 0.05. Meanwhile, the results of research using path analysis indirectly show that CSR disclosure is not able to strengthen the relationship between profitability, company size, GCG on abnormal returns.

scholarly journals Board Diversity: More Than a Gender Issue?

2015 ◽  
Vol 20 (1) ◽  
pp. 123 ◽  
Author(s):  
Michael Adams
Keyword(s):  
Corporate Governance ◽  
Gender Diversity ◽  
Governance Structure ◽  
Share Price ◽  
Corporate Boards ◽  
Board Diversity ◽  
The World ◽  
The Usa ◽  
The 1960S ◽  
The Right

There has been extensive research conducted on the importance of corporate governance around the world. The research seems to demonstrate that, regardless of whether corporations are based in common law or civil code systems, their longevity and sustainability arise from good corporate governance. However, the evidence does not clearly demonstrate a correlation between a particular organisation’s governance structure and practices and its share price. Around the world the question of board diversity is gaining in importance. The beginning of the debate in the 1960s centred on gender. While it is essential to conduct a debate on gender diversity, other aspects of diversity should also be considered. Race, culture and even age may have a direct impact on the performance of a board. Australian companies, particularly those listed on the ASX, have a poor record of instituting any type of diversity. The USA and European Union have a much wider range of policies to promote diversity on corporate boards. The key question is how best to regulate to promote diversity across gender, race, culture and age. The historical approach of regulating diversity by setting targets and requiring disclosure does not seem to have delivered substantial change. Is it the right time to impose mandatory requirements, or are there other alternative strategies? Without doubt change is required, but there will be opposition.

Does corporate governance matter for stock returns volatility in the Brazilian context?

2019 ◽  
Vol 19 (6) ◽  
pp. 1236-1252
Author(s):  
Guilherme Cardoso ◽  
Dannie Delanoy Carr ◽  
Pablo Rogers
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Stock Returns ◽  
Term Structure ◽  
Good Governance ◽  
Corporate Boards ◽  
Content Type ◽  
Error Measures ◽  
Good Corporate Governance ◽  
Governance Practices

Purpose This paper aims to examine the Brazilian stock market behavior and volatility term structure of two portfolios that, theoretically, the companies that comprise them have different degrees of idiosyncratic risk: one portfolio consists of firms with good corporate governance and the other comprises firms with poor corporate governance. Design/methodology/approach The sample comprises corporate firms listed in the Brazilian stock market during the period from January 2008 to December 2017. Generalized autoregressive conditional heteroskedasticity models were applied. Findings The results show that the portfolio of firms with good corporate governance practices presents fluctuations that are more often temporary and reactive, with trends’ persistence of shorter durations, when considering the punctual volatility of the parameters estimated. This opposed expectation that the portfolio comprised of companies with good governance practices are better protected from short-term movements. However, over time and with standard error measures in consideration, both portfolios’ volatilities behave in similar ways. These findings may be related to Brazilian market characteristics, such as ownership concentration, ineffective corporate boards and the ever-developing nature of the stock market in Brazil. Any one of these characteristics present challenges to effective enforcement of the corporate governance practices in the Brazilian context. Originality/value The findings are potentially to the interest of researchers and practitioners for several reasons. First, this paper contributes to the growing literature on the relationship between corporate governance and market volatility. Second, it informs that volatility in the Brazilian context is likely only partially, if at all, influenced by corporate governance practices. Third, longitudinally, both indices follow the same pattern and converge to the same place.

scholarly journals Takeovers in China: The Case against Uniformity in Corporate Governance

2005 ◽  
Vol 34 (2) ◽  
pp. 169-194 ◽  
Author(s):  
Guanghua Yu
Keyword(s):  
Functional Analysis ◽  
Corporate Governance ◽  
Careful Analysis ◽  
Economic Conditions ◽  
Governance Model ◽  
Foreign Law ◽  
The World ◽  
Political Background ◽  
Corporate Governance Model ◽  
Comparative Corporate Governance

Corporate governance has attracted enormous attention both in the area of law and in the area of financial economics. In comparative corporate governance studies, many people have devoted their energy to finding a best corporate governance model. I argue that a functional analysis does not support the view that there is a single best model in the world. I further use the transplantation of an English-style takeover law into China to explain that the importation of foreign law is not always based on careful analysis of whether the imported foreign law is the best in the world. Furthermore, I discuss the subsequent adjustment of the transplanted English takeover law to the takeover market in China to show that the transplantation of foreign law is subject to local political and economic conditions. If there is no best corporate governance model and the transplantation of foreign law into other countries with different social and political background does not achieve similar objectives, the search for a best corporate governance model is misguided.

scholarly journals INTERNATIONAL MARKETING DEVELOPING PUBLISHING BUSINESS / TARPTAUTINIS MARKETINGAS PLĖTOJANT LEIDYBOS VERSLĄ

2015 ◽  
Vol 7 (2) ◽  
pp. 179-188
Author(s):  
Eugenijus Chlivickas ◽  
Laura Leščinskaitė
Keyword(s):  
International Marketing ◽  
Book Publishing ◽  
Business Development ◽  
Economic Conditions ◽  
The European Union ◽  
Printed Books ◽  
Foreign Countries ◽  
The World ◽  
Publishing Houses ◽  
Publishing Business

Lithuanian integration in the financial Eurozone and Lithuanian publishing business development in the European Union and outside it, becomes an important problem requiring a solution. Promoting the dissemination of printed books and literacy in Lithuania and beyond, to properly introduce the achievements of Lithuania in foreign countries, it is important to ensure Lithuanian letter, educational and scientific book publishing development. The article examines the characteristics of the international marketing publishing, the world and Lithuanian state publishing houses on the basis of foreign and Lithuanian scientists theoretical insights about the instruments of international marketing opportunities, developing proposals for publishing business integration of new economic conditions. Lietuvai integruojantis į finansinę euro zoną, Lietuvos leidybos verslo plėtra Europos Sąjungoje bei už jos ribų tampa svarbia problema, kurią reikia spręsti. Skatinant spausdintų knygų sklaidą ir raštingumą Lietuvoje bei už jos ribų, siekiant tinkamai pristatyti Lietuvos pasiekimus užsienio šalyse, svarbu užtikrinti Lietuvos rašto, švietimo ir mokslo knygų leidybos plėtrą. Straipsnyje nagrinėjamos leidybos verslo ypatybės, pasaulio bei Lietuvos leidyklų būklė, remiantis užsienio ir Lietuvos mokslininkų teorinėmis įžvalgomis apie tarptautinio marketingo instrumentų panaudojimo galimybes, pateikti siūlymai dėl leidybos verslo plėtros naujomis ekonominės integracijos sąlygomis.

scholarly journals The effect of industry nuances on the relationship between corporate governance and financial performance: Evidence from South African listed companies

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Jonty Tshipa ◽  
Leon M. Brummer ◽  
Hendrik Wolmarans ◽  
Elda Du Toit
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
South African ◽  
Resource Dependence ◽  
Stock Exchange ◽  
Listed Companies ◽  
Company Performance ◽  
Johannesburg Stock Exchange ◽  
Good Corporate Governance ◽  
The Relationship

Background: Premised on agency, resource dependence and stewardship theories, the study investigates empirically the existence of industry nuances in the relationship between corporate governance and financial performance of companies listed in the Johannesburg Stock Exchange. Aims: The main objective of the study is to understand the relationship between internal corporate governance and company performance from the perspective of three distinct economic periods, as well as industry nuances, cognisant of endogeneity issues. Setting: South Africa, as an emerging African market, offers an interesting research context in which the corporate governance and financial performance nexus can be examined empirically. Method: A sample of 90 companies from the five largest South African industries, covering a 13-year period from 2002 to 2014 (1170 firm-year observations) was examined with three estimation approaches. Results: Two key trends emerged from this study. First, the relationship between corporate governance and company performance differed from industry to industry. Second, the association between corporate governance and company performance also changes during steady and non-steady periods, which is an indication that the nexus is driven by the state of the global economy and the type of the industry. Conclusion: Evidence from the study suggests that companies should be allowed to optimise rather than maximise their corporate governance options. This finding questioned the approach of the recently published King IV Code of Good Corporate Governance, which requires Johannesburg Stock Exchange-listed companies to ‘apply and explain’ as opposed to ‘apply or explain’ as pronounced by King III Code of Good Corporate Governance.

scholarly journals PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CSR DAN GCG SEBAGAI VARIABEL PEMODERASI

2010 ◽  
Vol 10 (2) ◽  
pp. 41
Author(s):  
Hidayatullah ,
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Stock Exchange ◽  
Value Added ◽  
Corporate Financial Performance ◽  
Corporate Value ◽  
Moderating Variables ◽  
Good Corporate Governance ◽  
Relationship Of ◽  
The Relationship

<p class="Style1">This Thesis investigated the influence of financial performance toward corporate value by exposing Corporate Sosial Responsibility (CSR) and Good Corporate Governance (GCG) as Moderating Variables. Corporate Financial performance as independent variable is represented by the Financial Value Added (FVA) and Corporate Value as Dependent Variable is represented by Tobin `s Q value. CSR value is indexed based on the 78 items of exposure themes and GCG value is indexed using the 18 items of exposure themes which the researcher called Corporate Governance Perception Index. After selecting 149 companies listed in Indonesia Stock Exchange, the researcher found 39 manufacture companies<sup>.</sup>  qualified as the research objects based on the defined criteria, with observation timeframe from the year of2005 to 2008. The result of the research concludes that: Financial Performance (FVA) significantly influences the corporate value (Tobins 'Q); Corporate Sosial Responsibility also influences the relationship of corporate financial performance and the corporate value; and Good Corporate Governance influences the relationship of corporate financial performance and the corporate value as well.</p><p class="Style1">Keywords: Financial value Added, Tobin 's Q, CSR, GCG</p>

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