scholarly journals Composition and Activity of the Board of Directors: Impact on ESG Performance in the Banking System

2018 ◽  
Vol 10 (12) ◽  
pp. 4699 ◽  
Author(s):  
Giuliana Birindelli ◽  
Stefano Dell’Atti ◽  
Antonia Iannuzzi ◽  
Marco Savioli
Keyword(s):  
Board Of Directors ◽  
Fixed Effects ◽  
Critical Mass ◽  
Banking System ◽  
The United States ◽  
Fixed Effects Panel Regression ◽  
The Board Of Directors ◽  
Corporate Social ◽  
The Impact

A growing body of research suggests that the composition of a firm’s board of directors can influence its environmental, social and governance (ESG) performance. In the banking industry, ESG performance has not yet been explored to discover how a critical mass of women on the board of directors affects performance. This paper seeks to fill this gap in the literature by testing the impact of a critical mass of female directors on ESG performance. Other board characteristics are accounted for: independence, size, frequency of meetings and Corporate Social Responsibility (CSR) sustainability committee. We use fixed effects panel regression models on a sample of 108 listed banks in Europe and the United States for the period 2011–2016. Our main empirical evidence shows that the relationship between women on the board of directors and a bank’s ESG performance is an inverted U-shape. Therefore, the critical mass theory for banks is not supported, confirming that only gender-balanced boards positively impact a bank’s performance for sustainability. There is a positive link between ESG performance and board size or the presence of a CSR sustainability committee, while it is negative with the share of independent directors. With this work, we stress the key role of corporate governance principles in banks’ ESG performance, with relevant implications for both banks and supervisory authorities.

The Battle for the Migrants: The Evolution from Port to Company Competition, 1840-1914

2007 ◽  
Author(s):  
Torsten Feys
Keyword(s):  
United States ◽  
New York ◽  
Board Of Directors ◽  
The United States ◽  
Business Strategies ◽  
Migration Patterns ◽  
The Board Of Directors ◽  
The Impact

This chapter discusses the role of Dutch and Belgian consular agencies in opening and sustaining the business of transatlantic steamship lines from Rotterdam and Antwerp to the United States. Via a case study of the Holland America Line it analyses the responsibility of shipping agencies to gather information on migrant opportunities in the United States and to maintain the reputation of European ports. It uses the Line’s correspondence with New York shipping agents and the Board of Directors to interpret business strategies and inter-firm relationships. Though little is known about the activities of shipping agents and shipping companies in influencing migration, it concludes that their advertising efforts and the effects of fierce company competition brought the prospects of the New World into the mindset of a great number of Europeans. It requests further scholarly research into the impact of agents on migration patterns

7 Governance Issues in Offshore Companies Used as Private Investment Funds

2018 ◽  
Author(s):  
Spangler Timothy
Keyword(s):  
Board Of Directors ◽  
Private Investment ◽  
The United States ◽  
Fiduciary Duty ◽  
Duty Of Care ◽  
Cayman Islands ◽  
Investment Funds ◽  
The Board Of Directors ◽  
The Uk

This chapter examines issues of governance arising from the use of offshore companies as private investment funds. Funds established in offshore jurisdictions are often structured as limited companies that issue shares to investors. Governance issues can arise in offshore companies when voting rights are separated from economic participation. The chapter first considers the role of the board of directors in private investment funds before discussing taxation issues affecting offshore companies used as private investment funds in the UK and in the United States. It then explains the duties of directors under Cayman Islands law, including fiduciary duty, duty of care, diligence, and skill, and duty of confidentiality. It also describes the composition of the board of directors, its meetings, relationship with the fund manager, and responsibility for approval of fund documentation.

scholarly journals The Impact of Audit Committee Characteristics on Environmental and Social Disclosures

2019 ◽  
Vol 8 (3) ◽  
pp. 111-121 ◽  
Author(s):  
Ali Altuğ Biçer ◽  
Imad Mohamed Feneir
Keyword(s):  
Board Of Directors ◽  
Financial Reporting ◽  
Audit Committee ◽  
Good Image ◽  
The Board Of Directors ◽  
Important Means ◽  
Societal Impacts ◽  
The Impact

The main reasons for corporate participation in environmental and social disclosure are stability, development, and continuity through participation in protecting the environment and optimizing the use of available resources. As well as the company practices and participation in society of the most important means to create a good image of the company in the community. There is a rise demand for companies to take accountability for their environmental and societal impacts. A core role of the Audit Committee (AC) is to help the board of directors in overseeing the company's reporting policy and oversees the quality of financial reporting in the company. This study examined the impact of audit committee characteristics on the level of environmental and social disclosures in listed banks in Borsa Istanbul. The results of the study showed that there is no statistically significant relationship between the characteristics of the audit committee and the environmental and social disclosures. Consequently, these characteristics have no effect on the volume or type of disclosure and their inability to predict them.

scholarly journals The Role of the Diversity of the Board of Directors in Promoting Integrated Disclosure and Social Responsibility

2021 ◽  
Vol 1 (1) ◽  
pp. 9-20
Author(s):  
Ali Khalaf Gatea ◽  
Haider Ali Jarad Al Masoudi
Keyword(s):  
Social Responsibility ◽  
Board Of Directors ◽  
Administrative Practices ◽  
The Social ◽  
Key Word ◽  
The Board Of Directors ◽  
Comprehensive Picture ◽  
The Impact

The integrated Disclosure aims to provide a comprehensive picture of the performance of the organization, and because the quality of the Disclosure is a critical aspect of the integrated reports, so the research aims to show the impact of the diversity of the board of directors on the quality of the integrated reports and the promotion of the social responsibility of the organization, and to make decisions about disclosure and integration in the information provided in order to benefit from it In building integrated visions about the organization, assuming that the diversity of the board of directors has a significant relationship to the extent to which the quality of integrated Disclosure is achieved, that the most important findings of the research stipulate that the diversity of the board of directors contributes to social responsibility and integrated disclosure, and the strengthening of organizational culture and administrative practices, and the research recommends, The need to interact with the environment and the communities in which the organization operates, to enable it to provide environmental, social or ethical information, along with financial, strategic and governance information in an annual report. Key word: Diversity, Integrated Disclosure, Social Responsibility.

scholarly journals The impact of corporate social responsibility on financial performance

2016 ◽  
Vol 13 (3) ◽  
pp. 171-182 ◽  
Author(s):  
Grigoris Giannarakis ◽  
George Konteos ◽  
Eleni Zafeiriou ◽  
Xanthi Partalidou
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Fixed Effects ◽  
The United States ◽  
Jel Classification ◽  
Socially Responsible ◽  
Fixed Effects Regression ◽  
Corporate Social ◽  
The Impact

This study investigates whether corporate social responsibility (CSR) affects the financial performance of the United States (US) companies. In particular, the impact of CSR on financial performance is investigated in terms of involvement in socially responsible initiatives instead of outcome. The Environmental, Social and Governance disclosure score as calculated by Bloomberg is used as a proxy for corporate involvement in socially responsible initiatives. Fixed effects regression is employed to estimate the relationship between the extent of corporate social disclosure (CSD) and financial performance using the data of listed companies on the Standard & Poor’s 500 during the period 2009-2013. The results suggest that the involvement in socially responsible initiatives has a significantly positive effect on financial performance. In addition, the control variables, such as total compensation to directors, CEO duality and women presence on board are statistically significant to financial performance. It is important to incorporate a longer period in order to validate the positive relationship between CSR and financial performance, whilst the sample is focused on large in size US companies. This study chose to approach the topic from a different angle in order to provide an alternate perspective on this issue taking into account the involvement of socially responsible initiatives via CSD. Keywords: corporate social responsibility, disclosure, financial performance. JEL Classification: M140, M410, Q00

scholarly journals Strategic corporate governance in family business: A study on the board of directors’ roles and responsibilities

2012 ◽  
Vol 9 (2) ◽  
pp. 9-20
Author(s):  
Henrique Cordeiro Martins ◽  
Carlos Alberto Gonçalves ◽  
ose Antonio de Sousa Neto ◽  
Marcio Augusto Gonçalves ◽  
Reynaldo Maia Muniz
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Family Business ◽  
Board Members ◽  
Practical Activity ◽  
Roles And Responsibilities ◽  
The Board Of Directors ◽  
Qualitative Nature ◽  
The Impact

The goal of this article is to analyze the constitution of the directors boards, based on their attributes, and the impact of this configuration on the roles and responsibilities of the board members in Brazilian Family Businesses. A research of a qualitative nature was carried out in 10 big family companies in Brazil. The results found point to the strategic roles as being the most relevant, but as a practical activity focused on the role of control. The Board has been more active at some moments, but is inactive at others, especially, when the concentration of capital is greater in some companies than in others.

BOARD OF DIRECTORS AS A FACTOR OF FIRM PERFORMANCE IN INNOVATIVE COMPANIES

2019 ◽  
Vol 23 (06) ◽  
pp. 1950060
Author(s):  
IRINA BEREZINETS ◽  
KIRILL BEREZKIN ◽  
YULIA ILINA ◽  
IRINA NAOUMOVA
Keyword(s):  
Firm Performance ◽  
Emerging Markets ◽  
Board Of Directors ◽  
Public Companies ◽  
Composition And Structure ◽  
The Board Of Directors ◽  
The Impact ◽  
The Relationship ◽  
D Investment

The emerging markets undergo constant transformations and changes, and thus, a change of strategy can be critical for companies. However, the impact of R&D investment on firm performance and the role of the board of directors that makes decisions about a company’s innovative activities remain inconclusive. This paper investigates the relationship between a board of directors’ composition and structure in innovative companies and firm performance. Using the panel data of innovative Russian public companies that made R&D investments in 2011–2013, we found a positive relationship between the boards’ independence and ROA as an indicator of firm performance. Moreover, it was shown that innovative companies that establish a strategy committee will on average have a higher ROA ratio than innovative companies without such a committee. Innovative firms in emerging markets might consider creating strategic committees and increasing board independence to enhance their performance and increase the number of successful R&D investments.

scholarly journals Corporate governance and financial performance: An empirical study on Egyptian banks

2015 ◽  
Vol 13 (1) ◽  
pp. 1359-1374
Author(s):  
Hassan M. Hafez
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Board Of Directors ◽  
Banking Sector ◽  
Annual Reports ◽  
Obvious Effect ◽  
The Board Of Directors ◽  
Conventional Banks ◽  
The Impact

There is a distinct lack of research into the relationship between corporate governance and banks’ financial performance in the banking sector in Egypt. This research paper tries to fills this gab by examining the impact of corporate governance, with particular reference to the role of board of directors and ownership concentration, on the financial performance of Egyptian banks. Using a sample of 39 banks represent all commercial banks operate in Egypt for the period 2004– 2015 and controlling banks size and age. The study relied on the data through the annual reports of the respective banks, website of the central bank of Egypt and Data scope. The banks were selected for the study cutting across the local Islamic and Conventional banks, foreign Islamic and conventional banks, and regional Islamic and conventional banks. The results showed that banks ownership either foreign or national has an obvious effect on the banks’ financial performance. Board size has no significant effect. However, the hierarchy of the board of directors and the duality of the CEO has a direct effect on the banks financial performance in Egypt.

scholarly journals Board Gender Diversity and Cash Holdings: Empirical Evidence from the European Sport and Leisure Sector

2021 ◽  
Vol 9 (4) ◽  
pp. 64
Author(s):  
Panagiotis E. Dimitropoulos ◽  
Konstantinos Koronios
Keyword(s):  
Empirical Evidence ◽  
Fixed Effects ◽  
Critical Mass ◽  
Gender Diversity ◽  
Cash Holdings ◽  
Women Directors ◽  
The Board Of Directors ◽  
Panel Fixed Effects ◽  
Board Gender Diversity ◽  
The Impact

The scope of this study is to examine the impact of board gender diversity on corporate cash-holding decisions within the European sport and leisure sector. A sample of 125 unique firms was selected for the period from 2008 to 2019, and analysis was performed using panel fixed-effects regressions. Empirical evidence documented that the higher the number of women serving on the board of directors, the higher the level of cash the firm holds. This result is attributed to the critical mass theory of governance, suggesting that boards having at least two women directors are associated with higher cash holdings compared to firms with one or no women directors. Additionally, gender diversity leads to increased cash holdings for firms with lower governance quality, suggesting that women on boards perform a monitoring role within those firms with the most severe agency problems. The results remain robust after several sensitivity tests controlling for potential endogeneity among the variables and the model’s functional form.

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