scholarly journals FEATURES OF THE REGULATORY REGIME OF BANKS AND CORPORATE GOVERNANCE

2021 ◽  
Vol 9 (21) ◽  
Author(s):  
Strahinja Miljković ◽  
Damjan Danilović
Keyword(s):  
Corporate Governance ◽  
Social Relations ◽  
National Level ◽  
Legal Framework ◽  
Company Law ◽  
Regulatory Control ◽  
Regulatory Regime ◽  
Systemic Risks ◽  
Governance Systems ◽  
The Creation

Social relations, economic development and capital concentration have conditioned the development of legal science in the field of companies. Few legal areas have been so susceptible to legal evolution, especially in the last few decades, where the tendency for permanent changes remains to be seen. Through its development, the company law has expressed its own legal institutes, and the legislature has a number of different legal relationships and facts. In particular, banks with their many personalities are singled out within companies. The credit deposit business conditions specific legal relations, which again affects the creation of a special legal framework. Corporate governance systems are characteristic of the steak-holder approach, which stems from the fact that banks have other people's money, and potential losses are made up of state funds, or budget funds. Banking operations, i.e. the management system thus becomes the public interest. This is especially manifested in the creation of a control framework, in order to preempt the development of systemic risks, which are very emphasized by the banks. These risks may be at both the international and national level, subject to both international and national regulatory control. All this affects a range of personalities in the internal organization of banks, and overall the creation of a special legal framework.

scholarly journals COMPLIANCE OF CORPORATE GOVERNANCE IN BOSNIA AND HERZEGOVINA WITH EUROPEAN UNION STANDARDS

2018 ◽  
pp. 340-355
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Bosnia And Herzegovina ◽  
Legal Framework ◽  
Regulatory Framework ◽  
Quality Level ◽  
The European Union ◽  
Governance System ◽  
Governance Systems ◽  
Principles And Standards

Corporate governance provides an answer to the question who controls the corporation and how. It involves a set of relationships between management, shareholders and stakeholders. Corporate governance in Bosnia and Herzegovina is within the legal jurisdiction of entities, and consequently there are two substantially aligned and yet completely distinct corporate governance systems, which separates Bosnia and Herzegovina as a state in the international environment into a specific category in terms of corporate governance. This paper will analyze ownership concentration in order to identify the characteristics of the corporate governance systems, then it will present the principles on which the legal framework for corporate governance in Bosnia and Herzegovina is defined, compare the business transparency standards with the transparency directive in the EU, and measure the quality level of corporate governance in order to define key areas for improvement of corporate governance in Bosnia and Herzegovina. The development and characteristics of the corporate governance systems in Bosnia and Herzegovina will be explored and compared with the regulatory framework and standards of corporate governance in the European Union. Special emphasis is on comparing the transparency principles and standards of corporations in Bosnia and Herzegovina with corporations in the European Union. The aim of the research is to compare the regulatory framework and characteristics of the corporate governance system in corporations in Bosnia and Herzegovina with the standards in the European Union, to identify similarities and differences and to define key areas for improvement of corporate governance in Bosnia and Herzegovina.

Mandatory versus Discretionary Rule Dichotomy in the Harmonization of Corporate Governance Codes: Lessons for Nigeria

2019 ◽  
Vol 63 (3) ◽  
pp. 385-411 ◽  
Author(s):  
Collins C Ajibo ◽  
Kenneth I Ajibo
Keyword(s):  
Corporate Governance ◽  
Market Integration ◽  
National Level ◽  
Hybrid Approach ◽  
Critical Issue ◽  
Business Community ◽  
Playing Field ◽  
Governance Systems ◽  
Corporate Governance Codes ◽  
Comply Or Explain

AbstractHarmonizing corporate governance systems can potentially level the playing field for businesses, as it would increase financial and economic interconnections, including market integration, between countries. Although harmonization at the regional level such as the EU seems challenging because systems are so diverse, the reverse is the case at the national level. A critical issue in the harmonization effort is whether to adopt the “comply or explain” approach or the mandatory compliance approach. Although mandatory compliance is necessary in certain circumstances, particularly in cases of corporate pseudo-reporting that occasions corporate failures, the predominant approach involves “comply or explain”. Given competing interests in the business community, the inclination for flexibility and the regulatory authority's disposition for an oversight function, this article argues that a hybrid approach should be followed, which will internalize the merits of both the “comply or explain” and mandatory compliance approaches while eschewing their disadvantages.

scholarly journals Values Based Ideal Types of Corporate Governance Systems

2017 ◽  
Vol 2 (1) ◽  
pp. 13 ◽  
Author(s):  
Supriya Banerjee ◽  
Mike F. Wahl
Keyword(s):  
Corporate Governance ◽  
Dynamic Environment ◽  
Secondary Data ◽  
Research Problem ◽  
Company Law ◽  
Data Set ◽  
Ideal Types ◽  
Ownership Strategy ◽  
Governance Systems ◽  
The World

<p>Values and differences in corporate governance across the world are part and partially related and it is obvious that owners know what results they want to have from the corporations in the long run. In this regard, some scientific studies have revealed that owners would be succeed in a dynamic environment only if they formulate ownership strategy based on values. Consequently, to understand corporate governance better, some research has been carried out on corporate governance by relating values towards the area of knowledge but there is a scarcity of research which proposing comprehensive and explains corporate governance systems consisting values. Therefore, authors of this paper identified the following research problem which is: “Lacking of theory behind corporate governance systems including values which gives an opportunity towards the owners under different corporate governance systems to analyse its own behaviour, learning, managing knowledge, and finally clearly expressing ownership will in the form of an ownership strategy.” There were two data set was analysed in this study. One is Organisation for Economic Co-Operation and Development (OECD) company law and corporate governance database based on member countries submission and the second set of data is Schwartz’s value survey to characterise multiple countries by their culture. Methodologically, after using multi quantitative tools this study is valuable to analyse all the secondary data to produce new knowledge, adopting different theoretical lens, by analysing and understanding the interrelationships of values and different systems of corporate governance across the world. The result of the study comes with a typology including values based three ideal types (Affective type, Cognitive type and Conative type) of corporate governance systems, with a practical contribution towards enriching the available knowledge for owners to formulate ownership strategy. Considering future direction, the constructed typology is required for assessment of the capability of refutation aside from OECD countries.<strong></strong></p>

scholarly journals Corporate governance reforms in Greece and Cyprus

2009 ◽  
Vol 7 (1) ◽  
pp. 173-191 ◽  
Author(s):  
Marina Stefou
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Good Governance ◽  
Legal Framework ◽  
Company Law ◽  
Geographical Proximity ◽  
Cultural Aspects ◽  
Corporate Governance Reforms ◽  
European Corporate Governance ◽  
Governance Reforms

The recent International and European reforms concerning corporate governance and the need for effective capital markets “dictated” a reform in company law and corporate governance regimes in Greece and Cyprus. The latter are both small or medium sized markets, based on family owned companies and banks. Despite the cultural link between the aforesaid countries and their geographical proximity, their approach towards the adoption of corporate governance principles and best practices is not similar and depicts a difference due to historical and political reasons. This paper has two objectives, namely: i) to present the main aspects of corporate governance in Greece and Cyprus and the basic legal framework implementing the fundamental principles of good governance and ii) to attend an evaluation of these regimes and integrate them within the international and European debate of reforming corporate governance, while in the meantime, to strike out the different choice of legal tools in implementing corporate governance. Firstly, I will review the Greek corporate governance legal framework. Secondly, I will describe the equivalent regime in Cyprus and finally, I will summarize the overall findings in an attempt to compare and assess them in a more critical way, with reference to cultural aspects of corporate governance and as regards the international and European corporate governance framework applied.

scholarly journals Stakeholder Protection and Corporate Social Responsibility from a Comparative Company Law Perspective: Nigeria and South Africa

2020 ◽  
Vol 64 (3) ◽  
pp. 425-449
Author(s):  
Nojeem Amodu
Keyword(s):  
Corporate Governance ◽  
Legal Framework ◽  
Corporate Law ◽  
Company Law ◽  
Corporate Reporting ◽  
Corporate Governance Codes ◽  
Inclusive Approach ◽  
Philosophical Background ◽  
Corporate Social ◽  
Corporate Legislation

AbstractThere have been notable legislative advancements, as well as improvements in corporate governance codes, aimed at protecting stakeholder rights. However, how much protection have they really afforded stakeholders against socially irresponsible corporate behaviour? This article undertakes a comparative analysis of the legal framework underlying South Africa's stakeholder-inclusive approach and Nigeria's environmental, social and governance or sustainability corporate reporting. It identifies a misplaced philosophical background as well as policy misalignment of corporate governance codes and primary corporate law as critical factors that undermine efforts to embed responsible corporate behaviour in order to safeguard the interests of qualified and legitimate stakeholders. It recommends specific amendments to address the ideological defect and align corporate governance codes with primary corporate legislation in these two countries.

ACHIEVEMENTS AND PROSPECTS OF ONOMASTIC STANDARDIZATION: BELARUSIAN EXPERIENCE

2020 ◽  
pp. 72-82
Author(s):  
I.L. Kapylou
Keyword(s):  
Proper Names ◽  
Legal Framework ◽  
The State ◽  
The Creation

The article describes the achievements and determines the prospects for the standardization of Belarusian onyms: it examines the problems associated with the establishment of official written forms of toponyms, the creation of normative onomastic reference books, the functioning of onyms in the situation of the state Belarusian-Russian bilingualism in Belarus, the transliteration of foreign names into the Belarusian language, the preparation of a legal framework and development of a program for proper names romanization.

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