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

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.

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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 ◽

10.2478/manment-2019-0036 ◽

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.

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

Corporate Ownership and Control ◽

10.22495/cocv9i1c2art3 ◽

2011 ◽

Vol 9 (1) ◽

pp. 283-293 ◽

Cited By ~ 3

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.

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CONSTRUCTION OF CORPORATE SOCIAL RESPONSIBILITY (CSR) DISCLOSURE INDEX AND ITS PRACTICES BY LISTED COMPANIES IN OMAN

American International Journal of Economics and Finance Research ◽

10.46545/aijefr.v3i1.225 ◽

2021 ◽

pp. 57-68

Keyword(s):

Corporate Governance ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Listed Companies ◽

Annual Reports ◽

Governance System ◽

Corporate Governance System ◽

Csr Disclosure ◽

Code Of Corporate Governance ◽

Corporate Social

The importance of Corporate Social Responsibility has been acknowledged greatly as an objective of business sustainability. Whereas the measurement of CSR is always a source of argument among researchers. There are different approaches identified and used by researchers to measure CSR. The main objective of this study is to measure CSR disclosure by constructing an index based on content analysis. The study used the data of non-financial listed companies' annual reports to construct an index for the period 2016, 2017, 2018, and 2019. Thus, 291 firm-year observations are used in this study to construct and measure the CSR disclosure index. 40 elements are used to measure CSR disclosure based on five sub-themes. The result of the study reveals that as CSR disclosure requirement is mandatory in Oman according to the new corporate governance system, thus the listed companies are trying to cope and developing CSR charters. The evidence indicates that some companies have high CSR disclosure while few companies are still struggling with developing CSR charter and disclosing their activities. However, CSR disclosure improves significantly from 2016 to 2019, which shows a strict implementation of the code of corporate governance.

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Agency problem in management as a challenge for the corporation accounting system

Herald of Ternopil National Economic University ◽

10.35774/visnyk2019.04.103 ◽

2019 ◽

pp. 103-115

Author(s):

Vasyl Tsaruk

Keyword(s):

Corporate Governance ◽

Institutional Theory ◽

Agency Theory ◽

Agency Problem ◽

Corporate Management ◽

Accounting System ◽

Corporate Structure ◽

Governance System ◽

Advantages And Disadvantages ◽

Corporate Governance System

Introduction. Corporate governance, as a basis for ensuring the efficient use of corporate resources, can be built on a range of models that have both advantages and disadvantages. Neo-institutional theory, in particular its separate component is agency theory. It is one of the theories that allows to substantiate the reasons for the decline in the quality of implemented corporate governance systems and to formulate ways to improve it, in particular, taking into account the role of accounting in ensuring the effectiveness of their functioning. Purpose. The aim of the article is to monitor essence and peculiarities of manifestation of agency problem in corporate governance and substantiation of place of accounting in its solution. Methods. The range of research methods related to the solution of the agent problem in the corporate governance system is applied. Dialectical method of cognition and the systematic approach to the interpretation of corporate governance, the monographic method for monitoring the positions of scientists in the sphere of solving the agent problem, the abstract and logical method for theoretical generalizations and formulation conclusions are used in the research. Results. The necessity of accounting development in solving the agency problem in corporate management is substantiated. The peculiarities of the development of neo-institutional theory as a theoretical basis of corporate governance are revealed. The necessity to study agency theory as a means of solving problems in corporate governance is substantiated. The essence of agency problem in corporate structures is revealed and the causes of its occurrence are identified. The theoretical principles of agency problem in corporate structures are highlighted. Cases of manifestation of agency problem in corporate structures are analyzed. The basic directions of improvement of the accounting system of the corporate structure with the purpose of minimizing consequences of occurrence of agency problem are highlighted. Discussion. It is advisable to focus on optimizing specific elements of the corporate accounting system in further research in order to avoid agency issues in the corporate governance system.

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

International Journal For Research In Business, Management And Accounting (ISSN: 2455-6114) ◽

10.53555/bma.v1i1.1670 ◽

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.

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

Journal of Islam in Asia <span style="font-size: 0.6em">(E-ISSN: 2289-8077)</span> ◽

10.31436/jia.v16i2.824 ◽

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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