The Impact of Strengthening the Judicial Accountability of Corporate Governance in Order to Combat Corruption in the Companies Listed in the Financial Markets

The world economy has undergone major changes during the last twenty years. Financial markets have grown spectacularly on the international level. In particular, stock markets rose substantially in the 1990s. At the same time, the combined process of deregulation and financial innovations transformed the internationalization of financial activities into financial globalization, which witnessed a considerable strengthening of both the impact and freedom of action of the main players. France did not remain unaffected by this evolution, much the contrary. This was all the more impressive given the historical weakness of the country’s financial markets. Many studies have been devoted to the growth of financial markets and many others to corporate governance, but the influence of the capital structure and the forms of governance on corporate strategies have rarely been empirically evaluated in the literature, due to the scarcity of relevant data. This paper aims at understanding (I) how the capital structure of French corporations has changed and, through an empirical study, (II) how this change may have impacted their strategy

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The impact of the mandatory corporate governance disclosures on the banking growth in UAE: Islamic versus conventional banks

Corporate Ownership and Control ◽

10.22495/cocv12i1c8p4 ◽

2014 ◽

Vol 12 (1) ◽

pp. 717-722 ◽

Cited By ~ 6

Author(s):

Haitham Nobanee ◽

Nejla Ould Daoud Ellili

Keyword(s):

Corporate Governance ◽

Financial Markets ◽

Annual Data ◽

Islamic Banks ◽

Empirical Results ◽

Conventional Banks ◽

The Impact ◽

Governance Disclosure

The aim of this paper is to measure the degree of mandatory corporate governance disclosure and examine its impact on the bank’s growth using annual data for listed banks on the UAE financial markets during the period 2003-2013. Our empirical results show that the degree of mandatory corporate governance disclosure of conventional banks is significantly higher than the Islamic banks. In addition, the degree of mandatory corporate governance disclosure is significantly and positively related to the growth of deposits for both Islamic and conventional UAE listed banks

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The relationship between corporate governance and stock prices in the GCC financial markets

Corporate Ownership and Control ◽

10.22495/cocv17i2art5 ◽

2020 ◽

Vol 17 (2) ◽

pp. 57-64 ◽

Cited By ~ 1

Author(s):

Muneer Mohammed Saeed Al Mubarak

Keyword(s):

Corporate Governance ◽

Financial Markets ◽

Stock Prices ◽

Financial Management ◽

Stock Price ◽

Financial Statements ◽

Management Literature ◽

Relationship Of ◽

The Impact ◽

The Relationship

The study investigates the impact of corporate governance characteristics on stock prices in the Gulf Cooperation Council (GCC) financial markets. It covers the financial markets of four (GCC) countries with a sample of 237 firms for the period of 2013-2017. The study was based on the GCC financial markets’ database, financial statements and ancillary notes which include corporate governance, stock prices by Bloomberg and share location. A multi-regression model was used. The independent variables were four corporate governance characteristics and the dependent variable was the stock price, in addition to using a number of control variables. A positive relationship was found between corporate governance and return on stock. The Gulf companies that have increased levels of corporate governance have increased returns to their shares, indicating that these companies are working to reduce the agency’s cost and eliminate the conflict between shareholders and directors. Few studies have focused on the relationship of corporate governance characteristics on stock prices in the GCC financial markets. The existing study contributes to the financial management literature by providing further evidence on such a relationship, especially in emerging countries. It serves as a guide to investors looking for the best investments in reliable companies in the region

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The Impact of Shariah Governance and Corporate Governance on the Risk Management Practices: Evidence from Local and Foreign Islamic Banks in Malaysia

The Journal of Muamalat and Islamic Finance Research ◽

10.33102/jmifr.v15i2.174 ◽

2018 ◽

Vol 15 (2) ◽

pp. 1-20

Author(s):

Sabri Embi ◽

Zurina Shafii

Keyword(s):

Risk Management ◽

Corporate Governance ◽

Management Practices ◽

Principal Component ◽

T Test ◽

The Body ◽

Primary Data ◽

Islamic Banks ◽

Shariah Governance ◽

The Impact

The purpose of this study is to examine the impact of Shariah governance and corporate governance (CG) on the risk management practices (RMPs) of local Islamic banks and foreign Islamic banks operating in Malaysia. The Shariah governance comprises the Shariah review (SR) and Shariah audit (SA) variables. The study also evaluates the level of RMPs, CG, SR, and SA between these two type of banks. With the aid of SPSS version 20, the items for RMPs, CG, SR, and SA were subjected to principal component analysis (PCA). From the PCA, one component or factor was extracted each for the CG, SR, and RMPs while another two factors were extracted for the SA. Primary data was collected using a self-administered survey questionnaire. The questionnaire covers four aspects ; CG, SR, SA, and RMPs. The data received from the 300 usable questionnaires were subjected to correlation and regression analyses as well as an independent t-test. The result of correlation analysis shows that all the four variables have large positive correlations with each other indicating a strong and significant relationship between them. From the regression analysis undertaken, CG, SR, and SA together explained 52.3 percent of the RMPs and CG emerged as the most influential variable that impacts the RMPs. The independent t-test carried out shows that there were significant differences in the CG and SA between the local and foreign Islamic banks. However, there were no significant differences between the two types of the bank in relation to SR and RMPs. The study has contributed to the body of knowledge and is beneficial to academicians, industry players, regulators, and other stakeholders.

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Corporate Governance and Firm Value: The Impact of the 2002 Governance Rules

CFA Digest ◽

10.2469/dig.v38.n1.8 ◽

2008 ◽

Vol 38 (1) ◽

pp. 17-19

Author(s):

Michael Kobal

Keyword(s):

Corporate Governance ◽

Firm Value ◽

The Impact

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Impact of Corporate Governance on the Cash Holding of the Firms: An Empirical Study of Indian Manufacturing Sector

GIS Business ◽

10.26643/gis.v12i4.3353 ◽

2017 ◽

Vol 12 (4) ◽

pp. 47-52

Author(s):

Karam Pal Narwal ◽

Sonia Jindal

Keyword(s):

Corporate Governance ◽

Audit Committee ◽

Manufacturing Sector ◽

Control Variable ◽

Cash Holding ◽

Executive Directors ◽

Control Effect ◽

Board Size ◽

Indian Manufacturing Sector ◽

The Impact

The paper empirically examines the impact of corporate governance on the cash holding of the firms. The components of corporate governance are measured by board size, board meeting, audit committee members, directors remuneration and non executive directors and the cash holding is measured with the log of average cash and size is taken as control variable for the control effect on the dependent variables. Moreover, correlation and panel regression model were employed to examine the relationship between the corporate governance and cash holding. Empirical data was collected from 96 firms over the period of 2004-05 to 2013-14. The results show that directors remuneration and the number of audit committee members positively influence the cash holding and the board size also positively influences the cash holding whereas, the non executive directors and the board meetings do not play any role in enhancing the cash holding.

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Relationship between Code of Corporate Governance and Corporate Financial Performance (An Empirical Study of Food Companies Listed on KSE)

GIS Business ◽

10.26643/gis.v12i4.3349 ◽

2017 ◽

Vol 12 (4) ◽

pp. 01-09

Author(s):

Asma Rafique Chughtai ◽

Afifa Naseer ◽

Asma Hassan

Keyword(s):

Corporate Governance ◽

Stock Exchange ◽

Securities And Exchange Commission ◽

Executive Directors ◽

Agency Conflicts ◽

Cross Sectional ◽

Return On Equity ◽

Governance Practices ◽

Code Of Corporate Governance ◽

The Impact

The crucial role that implementation of Code of Corporate Governance plays on protecting the rights of minorities, shareholders, local as well as foreign investors cannot be denied. Companies all over the world are required to implement their respective Code of Corporate Governance for avoiding agency conflicts between companies management and stakeholders and for assuring transparency in accountability. This paper aims at exploring the impact of implementation of corporate governance practices (designed by Securities and Exchange Commission of Pakistan) have on the financial position of companies. For explanatory variables of the study, composition of the board as per the Code of Corporate Governance that comprises of presence of independent, executive and non-executive directors has been taken into consideration. Return on equity has been taken as an indicator of firms profitability i.e. the dependent variable. For this study, companies listed on food producing sector of Karachi Stock Exchange have been screened for excogitation of the relationship. It is an empirical research based on nine years data from 2007–2015. Using Hausman Test for selecting the data analysis technique between Fixed or Random, Fixed Cross Sectional Panel Analysis has been used for analysis of the data collected. Findings indicate that presence of independent, executive and non-executive directors as per the code requirements levies a significant impact on the profitability of companies indicated by return on equity. It is, thus concluded that companies should ensure compliance with code of governance practices to reduce not only the agency issues but also to increase their profitability.

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