scholarly journals The compliance of the Romanian listed companies with the principles and provisions of the Corporate Governance Code

2020 ◽  
Vol 7 (2) ◽  
pp. 55-58
Author(s):  
Oana Bogdan ◽  
Alin Dumitrescu
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Capital Market ◽  
Stock Exchange ◽  
Strong Relationship ◽  
Listed Companies ◽  
Governance System ◽  
Corporate Governance Code ◽  
Economic Entity ◽  
Corporate Governance System

Starting from the research assumption that the Corporate Governance Code issued by Bucharest Stock Exchange (BSE) aims at building an internationally attractive capital market in Romania, based on best practices, transparency and trust that encourages companies to build a strong relationship with their shareholders and other stakeholders, communicate effectively and transparently and show openness towards all potential investors, in this paper we would like to present the degree of compliance of the companies listed on the Bucharest Stock Exchange with the principles and provisions of the Corporate Governance Code. The aim of this paper is achieved by presenting and commenting on the principles issued by the BSE regarding the corporate governance and by analysing the Corporate Governance Reports of the companies, presenting at the same time the compliance of the listed companies with these principles and provisions, by using the data issued in 2018 by the entities included in our study, namely the listed companies on the main market of the Bucharest Stock Exchange. Our analysis reflects that, although the provisions and principles of the Corporate Governance Code are not mandatory for the listed companies, they are largely implemented in the activity of companies because an efficient corporate governance system can represent a competitive advantage for any economic entity in the context of globalisation.

scholarly journals Corporate governance and agency theory: Megacable case

2018 ◽  
Vol 2 (1) ◽  
pp. 59-69 ◽  
Author(s):  
José G. Vargas-Hernández ◽  
María Elizabeth Teodoro Cruz
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Agency Theory ◽  
Small And Medium Enterprises ◽  
Empirical Literature ◽  
Governance System ◽  
Financial Reports ◽  
Cable Operator ◽  
Corporate Governance System ◽  
Medium Enterprises

The objective of this research is to determine the importance of the implementation of a corporate governance system in the Mexican company Megacable in its development, from the review of the theoretical and empirical literature. Therefore, a descriptive and explanatory study was carried out that describes the concepts related to the aforementioned elements. and financial reports of two periods are analyzed, as well as the main attributes that explain the success of the company. Among the main results obtained are that the Megacable group is the cable operator; Mexico’s largest internet and telephony in terms of subscribers, its structure as a controlling company that is managed through a series of subsidiaries and controlling companies and smaller operating companies in the same sector. It can be concluded that implementing efficient corporate governance among small and medium enterprises will have a clearer way of how to implement and execute the plans and best practices that will allow them to be leaders in their sector.

scholarly journals Quality of corporate governance: Contribution to improving companies performance in Bosnia and Herzegovina

2021 ◽  
Vol 9 (2) ◽  
pp. 19-33
Author(s):  
Slobodan Marin ◽  
Rade Tešić ◽  
Milan Šušić
Keyword(s):  
Corporate Governance ◽  
Bosnia And Herzegovina ◽  
Capital Market ◽  
Business Performance ◽  
Business Environment ◽  
Governance System ◽  
Corporate Governance System ◽  
Business Conditions ◽  
The Capital Market

A quality corporate governance system is a basic prerequisite for a sustainable growth economy, more easily increasing the efficiency of the economic system and guaranteeing access to external sources of capital. The level of quality of corporate governance can be defined as the degree of fulfillment of set standards of corporate governance defined at the international and national institutional level. In the new, modern business conditions, with strong dynamic changes in the social and business environment, modern corporate companies, ie their management bodies, are taking on new characteristics, adapting to new requirements and challenges. In this sense, the new demanding business conditions require continuous improvement of corporate governance potential. Based on previous theoretical and empirical knowledge, Bosnia and Herzegovina has the characteristics of a closed corporate governance system in both entities, so, as a basis for developing models for measuring the level of corporate governance, selected models that measure corporate governance in countries with typical closed corporate governance systems. A significant number of studies show that corporations that achieve higher standards and better corporate governance practices also have better business performance results and thus greater value in the capital market. This means that corporations with a higher level of corporate governance also have better financial operating results, easier access to financial capital, and greater value in the capital market. The main purpose of the research is to determine the level of influence of the quality of corporate governance on business performance, ie to determine whether corporations that had good corporate governance had higher business liquidity and vice versa. The main goal of the research is to establish the link and relationship between quality and corporate performance management indicators of the corporation's business.

scholarly journals The Test of Corporate Governance System in the Electric Utilities Industry

2016 ◽  
Vol 6 (1) ◽  
pp. 132
Author(s):  
Gulsevim Yumuk Gunay
Keyword(s):  
Corporate Governance ◽  
Electric Utilities ◽  
Strong Relationship ◽  
Three Dimensions ◽  
Main Theme ◽  
Governance System ◽  
Business Results ◽  
Governance Model ◽  
Corporate Governance System ◽  
Corporate Social Responsibility Reports

<p>The main purpose of this study is to test whether corporate governance is a system or not. Seven hypotheses are formed to reach this objective. The existence of significant relationships among three dimenisons (principles, processes and business results) is the main theme in these hypotheses. Regression analysis and reliability analysis are used in the study. 74 world’s biggest companies in electric utilities industry are used in the sample of the study. Corporate governance, sustainability and corporate social responsibility reports of these 74 companies are coded with 34 variables in the corporate governance system. It is found that there is a significant and strong relationship among three dimensions. Corporate governance is a construct of our study and principles, processes and business results are dimensions that explain this construct. The seventh hypothesis is formed to test whether corporate governance is constituted from these three dimensions or not. Cronbach alpha of these three dimensions (principles, processes and business results) is 91%. In other words, it is found that these three dimensions explain the construct (corporate governance system) of our study. Stakeholder governance model is used to test the hypotheses of the study. In sum, this study showed us that stakeholder governance model works in electric utilities industry and that there is an integrity among the variables and elements of corporate governance system.</p>

Current Disclosure and Transparency Practices in Saudi Corporate Governance

2014 ◽  
Vol 28 (2) ◽  
pp. 176-192 ◽  
Author(s):  
Faleh Salem al-Kahtani
Keyword(s):  
Corporate Governance ◽  
Capital Market ◽  
Annual Reports ◽  
Governance System ◽  
Corporate Governance System ◽  
The Capital Market

This article will investigate the current disclosure and transparency practices in the Saudi corporate governance system. The purpose of this article is to examine whether the disclosure and transparency requirements are satisfied, adequate and respected by the Saudi listed corporations. The disclosure and transparency prerequisites are also measured, and some of the main facets that have been sustained until now by the listed corporations are explored. In particular, a variety of the main disclosure and transparency ideologies that have been violated by some of the listed corporations are provided. In additional, the significance of disclosure and transparency in company annual reports is debated. The Capital Market Authority Board has consequently imposed fines on listed corporations responsible for violations. The Capital Market Authority Board has taken the defamation approach as punishment for such listed corporations.

Current Practices of Saudi Shareholder’s Rights: A Case for Reform

2013 ◽  
Vol 27 (3) ◽  
pp. 231-257
Author(s):  
Faleh Salem al-Kahtani
Keyword(s):  
Corporate Governance ◽  
Company Law ◽  
Governance System ◽  
Corporate Governance Code ◽  
Oecd Principles ◽  
Corporate Governance System ◽  
The Uk ◽  
Current Practices

Abstract This article will analyse Saudi shareholder’s rights, in particular by focusing on the legitimate articles of the Corporate Governance Code (hereinafter CGC), Company Law (hereinafter CL) and law cases related to shareholder’s rights. Analytical and comparative approaches are employed, examining the OECD principles of corporate governance and the UK Companies Act provisions with a view to reforming shareholder’s rights in the Saudi corporate governance system. In addition, shareholder’s rights are divided into financial and administrative rights. Thereafter, a number of recommendations are made regarding shareholder’s rights in the Saudi context.

scholarly journals DIVIDEND POLICY IN THE CORPORATE GOVERNANCE SYSTEM OF COMPANIES

2020 ◽  
pp. 557-567
Author(s):  
K. Mamikonyan
Keyword(s):  
Corporate Governance ◽  
Dividend Policy ◽  
Financial Indicators ◽  
Governance System ◽  
Wrong Decision ◽  
Economic Entity ◽  
Dividend Payments ◽  
Corporate Governance System ◽  
The Status

Over the past decade, dividend policy has become a fundamental element of the financial strategy of joint-stock companies, as it has a direct impact primarily on the corporate governance of the company. It can be considered that dividend payments are most often connected not with financial indicators, but with a significant improvement of the quality of corporate governance in the company, i.e. dividend payments are more likely an element of corporate governance. In essence, the high quality of corporate governance somewhat reduces the likelihood of making the wrong decision. To the qualitative indicators, showing the status of the company the quality corporate governance can be added for the assessment of the bankruptcy of economic entities. If the quality of corporate governance is considered as a new one, added to the composition of qualitative indicators, then in general a number of signs indicating the pre-bankrupt state of the economic entity and not reflected in the financial statements can be offered. Timely disclosure of information is accepted as the most important factor in improving corporate governance, which allows investors to reliably assess investment risks and compare practice with these results. Certain features are directly related to the structural elements of the company’s dividend policy, since contributing to the realization of the rights and interests of shareholders, the dividend policy occupies a major place in the corporate governance system of companies.

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

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.

Corporate Governance Codes in a Transitional Economy

2014 ◽  
pp. 27-47
Author(s):  
Marwa Hassaan
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Cultural Values ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Emerging Market ◽  
Fiscal Year ◽  
Corporate Governance Code ◽  
Disclosure Requirements ◽  
Corporate Governance Codes

This study aims to investigate the influence of the introduction of a corporate governance code in 2005 on the levels of compliance with mandatory IFRS disclosure requirements by companies listed on the Egyptian Exchange (EGX) as a leading stock exchange in the Middle East. Using a disclosure index derived from mandatory IFRS disclosure requirements for the fiscal year 2007, this study measures the levels of compliance by a sample of 75 non-financial companies listed on the focus stock exchange. This study extends the financial reporting literature and the emerging market disclosure literature by being the first to investigate the influence of corporate governance requirements for best practices on the levels of compliance with mandatory IFRS disclosure requirements by companies listed on the EGX. Results provide evidence of the lack of influence of corporate governance best practices on the levels of compliance with mandatory IFRS disclosure requirements as it is not yet part of the cultural values within the Egyptian context. These findings are consistent with the notions of the proposed theoretical foundation.

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