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Corporate Governance And Financial Distress
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Book Synopsis The Relationship Between Corporate Governance & Financial Distress by : Tony Bou Chahine
Download or read book The Relationship Between Corporate Governance & Financial Distress written by Tony Bou Chahine and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the relationship between a company's likelihood of financial distress and its corporate governance. A conditional logit regression analysis of 181 European companies with interest coverage shortfalls between 2004 and 2008 and a matched group of healthy firms shows that a firm's quality of corporate governance is negatively related to its probability of financial distress. Moreover, the analysis reveals that corporate governance mechanisms with regard to a firm's audit, its compensation of directors and managers and its vulnerability to takeovers are strongly associated to a company's likelihood of financial distress. Board governance is not found to be related to financial distress. The results support agency theory since they show that implementing good governance structures reduces the likelihood of bad performance. This implies that good governance structures are in the interest of all stakeholders who are all adversely affected by a company's financial distress.
Book Synopsis Corporate Governance in Transition by : Marjan Marandi Parkinson
Download or read book Corporate Governance in Transition written by Marjan Marandi Parkinson and published by Palgrave MacMillan. This book was released on 2019-10 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an account of legal, economic and managerial perspectives on governance in situations of financial distress and insolvency. It uses detailed real-life case studies of executive decision making to explore and illustrate the discussion. The book deals with the emergence of corporate governance as a framework of checks and balances on executive decision-making, before moving to the core issues of governance during financial distress and insolvency and alternative informal and formal rescue. Identifying and reviewing turnaround strategies and formal rescue processes available to management, the book also examines the increasing importance of creditors and their impact on business decision-making. The book provides a detailed interpretation of governance in five mega insolvencies in retail and construction following the financial crisis in 2008. It also sets out a methodology which is designed to inform and help those readers seeking to analyse and interpret director behaviour in such circumstances.
Book Synopsis Corporate Financial Distress and Bankruptcy by : Edward I. Altman
Download or read book Corporate Financial Distress and Bankruptcy written by Edward I. Altman and published by John Wiley & Sons. This book was released on 2010-03-11 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.
Book Synopsis Corporate Governance & Financial Distress by : Michel Gaby Saliby
Download or read book Corporate Governance & Financial Distress written by Michel Gaby Saliby and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis tackles the main problematic and the dilemma that many analysts ask and propose which is the relation between the corporate governance and the financial distress. Corporate governance is a wide subject that must be analyzed and discussed from different points of view. Many aspects could interfere in the corporate governance. In this regard we tried to test and verify the relationship between four aspects and factors of the corporate governance and their relationship with financial distress, these four factors are the portion of outside directors, the joint of the position of CEO and chair person, the size of the board of directors and the presence of female directors, Through the logistic regression analysis and the Chi- Square distribution analysis that we used, we discovered a positive relationship between the portion of outside directors and financial distress. On the other hand, we discovered a negative relationship between the size of the board of directors, the joint of the position of the CEO and the chair person and finally the occupation of the female directors with financial distress and performance of the company. We reached to these results and conclusion after studying and analysis a sample companies from the Middle East. All the theoretical and empirical details of these results are existed in our research.
Book Synopsis Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors by : OECD
Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.
Book Synopsis Corporate Governance and Financial Distress by : Aim-orn Jaikengkit
Download or read book Corporate Governance and Financial Distress written by Aim-orn Jaikengkit and published by . This book was released on 2004 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Lessons in Corporate Governance from the Global Financial Crisis by : L. P. Yong
Download or read book Lessons in Corporate Governance from the Global Financial Crisis written by L. P. Yong and published by CCH Australia Limited. This book was released on 2009 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lessons in Corporate Governance from the Global Financial Crisis poses and attempts to answer key questions about the Global Financial Crisis (GFC). Did it have to happen? What caused it and, more importantly, why? Could it have been avoided? Could it happen again? This book covers issues such as importance of the fiduciary duties of board members, risk management, influence of hedge funds, impact on members’ pension funds, currency hedging, role of government regulation and the extensive use of financial derivatives.
Book Synopsis Corporate Financial Distress, Restructuring, and Bankruptcy by : Edward I. Altman
Download or read book Corporate Financial Distress, Restructuring, and Bankruptcy written by Edward I. Altman and published by John Wiley & Sons. This book was released on 2019-03-26 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.
Book Synopsis Corporate Governance Models and Applications in Developing Economies by : Agyemang, Otuo Serebour
Download or read book Corporate Governance Models and Applications in Developing Economies written by Agyemang, Otuo Serebour and published by IGI Global. This book was released on 2019-08-30 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Virtually all developing, transitioning, and emerging-market economies are faced with one pressing concern at the moment: how to establish the groundwork for long-term economic performance and competitiveness in a diverse market. However, without the existence of good corporate governance in these economies, small enterprise will cease to exist in developing countries. Corporate Governance Models and Applications in Developing Economies is a collection of innovative research that contributes to the better understanding of corporate governance models by documenting the structures, principles, tenets, case studies, and applications for the development of good business practices in developing economies. While highlighting topics including risk management, financial distress, and insider trading, this book is ideally designed for corporate managers, executives, economists, strategists, investors, shareholders, students, researchers, academicians, business professionals, and policymakers.
Book Synopsis Corporate Governance Issues as Contributors to the Financial Crisis by : Arno Hetzel
Download or read book Corporate Governance Issues as Contributors to the Financial Crisis written by Arno Hetzel and published by GRIN Verlag. This book was released on 2017-11-13 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2017 im Fachbereich BWL - Bank, Börse, Versicherung, School of Oriental and African Studies, University of London (CeFIMS), Sprache: Deutsch, Abstract: In this paper, issues of corporate governance as contributors to the recent financial crisis will be examined. In that context, the subsequent changes in governance will be evaluated regarding their real risk-reducing impact or rather their potentially adverse consequences for the current financial environment. In order to prepare a sound discussion, there will be at first a definition of corporate governance and an overview of relating theories, to then come to discuss corporate governance issues as contributors to the financial crisis. Afterwards, the corporate governance structures after the financial crisis is evaluated and a conclusion is drawn.
Book Synopsis Corporate Governance and the Global Financial Crisis by : William Sun
Download or read book Corporate Governance and the Global Financial Crisis written by William Sun and published by Cambridge University Press. This book was released on 2011-07-21 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last two decades there has been a notable increase in the number of corporate governance codes and principles, as well as a range of improvements in structures and mechanisms. Despite this, corporate governance failed to prevent a widespread default of fiduciary duties of corporate boards and managerial responsibilities in the finance industry, which contributed to the 2007–10 global financial crisis. This book brings together leading scholars from North America, Europe, Asia-Pacific and the Middle East to provide fresh and critical analytical insights on the systemic failures of corporate governance linked to the global financial crisis. Contributors draw from a range of disciplines to demonstrate the severe limitations of the dominant corporate governance framework and its associated market-oriented approach. They provide suggestions on how the governance problems could be tackled to prevent or mitigate any future financial crisis and explore new directions for post-crisis corporate governance research and reforms.
Book Synopsis Corporate Governance and Financial Distress by : Zhiyong Li
Download or read book Corporate Governance and Financial Distress written by Zhiyong Li and published by . This book was released on 2015 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Poor corporate governance can damage the interests of shareholders, and may lead to company collapse. Previous studies in credit risk prediction provide no consensus as to which and how corporate governance variables determine bankruptcy. This paper is the first to apply a discrete time hazard model and a wide selection of 35 corporate governance measures including board composition, ownership structure, management compensation, and director and manager characteristics in predicting corporate credit risk by using a panel dataset of ten years for 1688 companies. We find that state control, institutional ownership, salaries of independent directors, the Chair's age, the CEO's education, the work location of independent directors and concurrent CEO positions have significant associations with the risk of financial distress. Governance measures, financial ratios and macroeconomic variables provide the best predictive accuracy. Policy implications are particularly suggested that regulations regarding State-Owned Enterprises and independent directors should be specially focused.
Book Synopsis Corporate Governance in Transition by : Marjan Marandi Parkinson
Download or read book Corporate Governance in Transition written by Marjan Marandi Parkinson and published by Springer. This book was released on 2018-09-05 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an account of legal, economic and managerial perspectives on governance in situations of financial distress and insolvency. It uses detailed real-life case studies of executive decision making to explore and illustrate the discussion. The book deals with the emergence of corporate governance as a framework of checks and balances on executive decision-making, before moving to the core issues of governance during financial distress and insolvency and alternative informal and formal rescue. Identifying and reviewing turnaround strategies and formal rescue processes available to management, the book also examines the increasing importance of creditors and their impact on business decision-making. The book provides a detailed interpretation of governance in five mega insolvencies in retail and construction following the financial crisis in 2008. It also sets out a methodology which is designed to inform and help those readers seeking to analyse and interpret director behaviour in such circumstances.
Book Synopsis CORPORATE GOVERNANCE AS A TOOL TO OVERCOME FINANCIAL DISTRESS by : AFRAH HUMAID KHALFAN AL TAWQI (TP034577)
Download or read book CORPORATE GOVERNANCE AS A TOOL TO OVERCOME FINANCIAL DISTRESS written by AFRAH HUMAID KHALFAN AL TAWQI (TP034577) and published by . This book was released on 2016 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance and Financial Distress Prediction in the UK by : Joseph Chenchehene
Download or read book Corporate Governance and Financial Distress Prediction in the UK written by Joseph Chenchehene and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Good Corporate Governance on Financial Distress in the Consumer Goods Sector by :
Download or read book The Impact of Good Corporate Governance on Financial Distress in the Consumer Goods Sector written by and published by . This book was released on 2018 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Objective - Financial distress is referred to as a condition in which a company's operations result in insufficient funds to meet its obligations (insolvency). The success or failure of a company greatly depends on the corporate governance of the company. This study aims to identify the relationship between the existence of good corporate governance and the probability of financial distress.Methodology/Technique - This study used secondary data obtained from annual reports from 2009 to 2014. The data is gathered from consumer goods manufacturing companies, that are listed on the Indonesian Stock Exchange (BEI). The sample includes 10 companies. The method of analysis used is multiple linear regressions.Findings - The results of the study show that institutional ownership and managerial ownership adversely affect the possibility of financial distress. On the other hand, the proportion of commissioners and the number of board of directors have a positive effect on the probability of financial distress.Novelty - This study found that institutional ownership (IO) has an inverse effect on the financial distress of a company.
Book Synopsis Corporate Financial Distress and Bankruptcy by : Lemma W. Senbet
Download or read book Corporate Financial Distress and Bankruptcy written by Lemma W. Senbet and published by . This book was released on 2012 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey provides a synthetic and evaluative survey of issues in corporate financial distress and bankruptcy. This area has moved into a public domain as a result of the recent global financial crisis that witnessed failures of many venerable institutions that got rescued by the government. Hence, this survey highlights the resolution mechanisms not only in the private domain but also in the public domain, and it uses corporate finance paradigms to interpret some of the far-reaching developments in financial distress of systemic nature. This survey's theoretical anchor is a framework for the delineation of economic distress and financial distress. The difficulty in disentangling the dichotomy has been a central challenge in the empirics relating to financial distress, corporate bankruptcy, and the use of apparently cost-effective private mechanisms for resolving financial distress. This review devotes ample space on the discussion of conditions under which privatization of bankruptcy succeeds and fails, and the recent empirics on the subject. The review also grapples with the efficiency of bankruptcy codes and regimes, given the frequent usage of court-supervised mechanisms. The fundamental efficiency question about the bankruptcy law is whether the law effectively rehabilitates economically efficient but financially distressed firms and liquidates economically inefficient firms. This survey provides an ongoing debate in law and in economic theories about the efficiency of the U.S. bankruptcy code. Moreover, it examines a linkage between financial distress and corporate governance, which has received growing attention. The review goes beyond the United States to take a look at comparative bankruptcy codes around the world with a focus on bankruptcy reform issues in emerging economies. Finally, this survey takes us into a public domain and systemic financial distress. This is inspired by the recent global financial crisis. Is the standard bankruptcy procedure (e.g., those embedded in Chapters 11 and 7) sufficient for resolving systemic financial distress? The review attempts to answer this question in the context of the recently adopted landmark legislation, particularly the Dodd-Frank Act's Title II (Receivership), which governs the resolution of systemically critical institutions.
