scholarly journals Research on the Differentiated Impact Mechanism of Parent Company Shareholding and Managerial Ownership on Subsidiary Responsive Innovation: Empirical Analysis Based on ‘Principal–Agent’ Framework

2019 ◽  
Vol 11 (19) ◽  
pp. 5252 ◽  
Author(s):  
Peng Xu ◽  
Heng Zhang ◽  
Guiyu Bai
Keyword(s):  
Institutional Environment ◽  
Negative Impact ◽  
Reference Value ◽  
Listed Companies ◽  
Governance Structure ◽  
Parent Company ◽  
Principal Agent ◽  
Corporate Governance Structure ◽  
The Difference ◽  
Innovation Competition

Under the dynamic competition situation, the innovation competition interaction between enterprises will take the form of mutual responding, while the formulation and implementation of responsive innovation strategy will be influenced by both shareholders and managers in the principal–agent relationship. In our research, we try to understand how the difference of governance logic between shareholders and managers affects innovation interaction strategy of enterprises. In order to achieve this research goal, this study takes all eligible listed companies (from 2007 to 2016) in China’s stock market as samples. The results show that the parent company shareholding has a negative impact on the subsidiary responsive innovation, while companies whose managers hold more shares select the relatively positive strategy responsive innovation. Moreover, the degree of separation between ownership and control rights and the external institutional environment can moderate the above relationship. Relevant conclusions can provide some reference value for the formulation of responsive innovation decision of listed companies and provide new insights for the design of parent–subsidiary corporate governance structure and the design of managerial equity incentive mechanism in the context of corporate group governance.

scholarly journals What are the costs and benefits of an international corporate governance reregulation?

2018 ◽  
Vol 7 (3) ◽  
pp. 31-36
Author(s):  
Francesco Di Tommaso
Keyword(s):  
Corporate Governance ◽  
Internal Control ◽  
Evolutionary Process ◽  
Listed Companies ◽  
Governance Structure ◽  
Organizational Model ◽  
Corporate Governance Structure ◽  
Information Transparency ◽  
International Corporate Governance ◽  
International Investors

This work is a research that applies the organizational model of the business organization of corporate governance, to a process of changing in the organizational structure. This paper defines the various organizational solutions and the various levels of complexity that the corporate governance structure, through its reference context, the load of available information and objectives, must support by choosing the optimal organizational solution. Before 2005 Enron under the management of the American government with logic of mass production not very attentive to the different needs of customers. Today the optimal organizational solution adopted is the "perfect integration with its distributors" throughout the peninsula, maximizing the quality of service to the customer and the knowledge of the various areas of expertise making the company more flexible and more competitive. The growing generalized attention (businesses, investors, academic circles) towards of the internal control system is part of a complex evolutionary process characterized from greater competition/boost to efficiency, emphasis on information transparency, innovative regulatory evolution. The importance of the theme of corporate governance in the world is further increased thanks to the drafting of the international Corporate Governance Code for listed companies, which aims to reassure the community of international investors on the existence, in listed companies, of an organizational model which provides for adequate allocation of responsibilities and powers, and a correct one balance between management and control.

scholarly journals Efficiency Analysis of Equity Incentive in Private Listed Companies-By Taking the Example of By-Health

2018 ◽  
Vol 4 (4) ◽  
pp. 15
Author(s):  
Junda Yang ◽  
Yun Xia ◽  
Liu Yang ◽  
Zhongtao Zhang
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Market Performance ◽  
Listed Companies ◽  
Governance Structure ◽  
Efficiency Analysis ◽  
Equity Structure ◽  
Corporate Governance Structure ◽  
Equity Incentives ◽  
Equity Incentive

At present, more and more private listed companies in our country realize the importance of corporate governance structure and equity structure, and also start to adopt a variety of equity incentive models to stimulate the business operators. How to evaluate the effect of private listed company's equity incentive measures? By taking the example of By-Health, this paper analyzes the effect of implementing equity incentive from financial performance, manager's behavior and market performance from three aspects: financial performance, manager's behavior and market performance, and puts forward relevant suggestions. With a view to providing useful reference and reference for improving the management of private enterprises and implementing equity incentives smoothly.

scholarly journals MEKANISME CORPORATE GOVERNANCE DALAM PERUSAHAAN YANG MENGALAMI PERMASALAHAN KEUANGAN

2019 ◽  
Vol 3 (2) ◽  
pp. 83
Author(s):  
Christina Dwi Astuti ◽  
Fajar Eka Yuniarto
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Governance Structure ◽  
Governance Mechanism ◽  
Manufacturing Companies ◽  
Corporate Governance Structure ◽  
Significant Difference ◽  
Distressed Firms ◽  
Financially Distressed ◽  
The Difference

<p><em>The objective of this research is analyzing the influence of Corporate Governance mechanism to the probability of financial distressed firms and the difference influence of Corporate Governance' structure between financially and non financially distressed firms in manufacturing companies listed at Indonesia Stock Exchange in 2004 - 2006. This research data obtained 148 companies, in which is consisted of 55 financially distressed firms and 93 non financially distressed firms using judgment purposive sampling method. By</em>a<em>= 5%, this research using Logistic Test and Mann-Whitney Test and One sample T -test to analyze the hypothesis. The result shows that the board of commisioner, board of directors, audit committee, independent commissaries, turnover of directors, institutional ownership, and total asset doesn't have influence to probability of financially distressed firms. Meanwhile to see the difference Corporate Governance structure between financially distressed firm and non financially distressed firm shows that only the size of board directors has significant difference between two groups.</em></p>

scholarly journals Empirical Analysis of Listed Agricultural Corporate Governance Structure and Corporate Performance

2021 ◽  
Vol 235 ◽  
pp. 02029
Author(s):  
Danchen Zheng
Keyword(s):  
Corporate Governance ◽  
Corporate Performance ◽  
Pearson Correlation ◽  
Listed Companies ◽  
Governance Structure ◽  
Multiple Regression Model ◽  
Structural Factors ◽  
Corporate Governance Structure ◽  
The Board Of Directors ◽  
The Relationship

Agriculture is the basic industry in China, and the development of agricultural listed companies is influenced by internal structure and corporate governance. An effective corporate governance structure can reduce costs to a certain extent, thereby increasing company value and overall strength. This paper selects the financial data of 2013-2018 A-share agricultural listed company in Shanghai and Shenzhen as a sample, puts forward the hypothesis through theoretical analysis, conducts Pearson correlation test on the sample data, and constructs multiple regression model to verify the three aspects of corporate governance structure. The relationship between corporate performance and research results shows that the relationship between equity concentration, equity balance, executive compensation and corporate performance of agricultural listed companies in China is in a “U” shape, and the size of the board of directors is significantly positively correlated with corporate performance to some extent, while the correlation between other governance structural factors and firm performance is not significant.

scholarly journals Research on Management Defense and Enterprise Innovation under Informatization

2021 ◽  
Vol 251 ◽  
pp. 03053
Author(s):  
Jingjing Kang
Keyword(s):  
Corporate Governance ◽  
Listed Companies ◽  
Governance Structure ◽  
Inhibitory Effect ◽  
Enterprise Management ◽  
Corporate Governance Structure ◽  
Significant Inhibitory Effect ◽  
Enterprise Innovation ◽  
The Impact ◽  
A Share

The information development affects the Enterprise Management Defense, and then affects the enterprise innovation. This paper takes the non-financial listed companies in China’s A-share market from 2013 to 2017 as samples to empirically study the impact of management defense on enterprise innovation. It is found that managerial defense inhibits enterprise innovation; compared with non-state-owned enterprises, managerial defense of state-owned enterprises has a more significant inhibitory effect on enterprise innovation. The results of this paper provide a basis for improving corporate governance structure, weakening management defense, promoting enterprise innovation, and help government departments deepen the reform of state-owned enterprises.

scholarly journals Corporate governance and bank performance: Evidence from Bangladesh

2012 ◽  
Vol 8 (1) ◽  
pp. 62-68 ◽  
Author(s):  
Mohammad Badrul Muttakin ◽  
Md. Shahid Ullah
Keyword(s):  
Corporate Governance ◽  
Negative Impact ◽  
Positive Impact ◽  
Governance Structure ◽  
Bank Performance ◽  
Corporate Governance Structure ◽  
Corporate Governance Mechanisms ◽  
Significant Negative Impact ◽  
And Performance ◽  
The Relationship

The study investigates the relationship between the corporate governance structure and performance of listed banks in Bangladesh. We find that board independence and board size have a significant positive impact on performance. However, female directors appear to have no impact on performance. Our evidence indicates that the extent of the managerial ownership level has a significant negative impact on bank performance. These results suggest that better corporate governance mechanisms are imperative for every banking company and should be encouraged for the interest of the investors and other stakeholders.

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