The Association Between Voluntary Disclosure And Corporate Governance In The Presence Of Severe Agency Conflicts

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The Association Between Voluntary Disclosure and Corporate Governance in the Presence of Severe Agency Conflicts

Author : Ana Gisbert
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Association Between Voluntary Disclosure and Corporate Governance in the Presence of Severe Agency Conflicts by : Ana Gisbert

Download or read book The Association Between Voluntary Disclosure and Corporate Governance in the Presence of Severe Agency Conflicts written by Ana Gisbert and published by . This book was released on 2014 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agency conflicts between investors are particularly severe in the presence of high family and block-holder ownership. By focusing on a setting characterised by high ownership concentration, we study the role of independent directors in promoting transparency through increased disclosure. In our tests, we use a sample of Spanish firms and, consistent with prior work, we show that the presence of these directors is strongly associated with increased voluntary disclosure. Additionally, we find that when an executive director takes on chair responsibilities the level of voluntary information is reduced, creating potential conflicts with the role of independent directors. We conclude that the regulatory environment can create sufficient incentives to bring together the interests of minority and majority shareholders and guarantee an efficient monitoring role of independent directors. However, results suggest that other mechanisms should be reinforced in order to improve the role of governance control on agency relationships, particularly in the case of the concentration of chair and executive responsibilities.

Corporate Governance, Principal-Principal Agency Conflicts, and Disclosure

Author : Chiraz Ben Ali
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Corporate Governance, Principal-Principal Agency Conflicts, and Disclosure by : Chiraz Ben Ali

Download or read book Corporate Governance, Principal-Principal Agency Conflicts, and Disclosure written by Chiraz Ben Ali and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the relation between corporate governance and disclosure quality in a context of principal-principal conflicts and poor investor protection. Overall, the empirical results suggest that minority expropriation risk harms disclosure quality. Specifically, we find that disclosure quality is negatively associated with ownership concentration, major shareholder voting rights, the existence of double voting rights and family control. The results obtained also evidence a positive relationship between disclosure quality and the existence of executive stock option plans giving support that this mechanism plays a key role in corporate transparency.

Research in Corporate and Shari'ah Governance in the Muslim World

Author : Toseef Azid
Publisher : Emerald Group Publishing
ISBN 13 : 1789730074
Total Pages : 456 pages
Book Rating : 4.7/5 (897 download)

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Book Synopsis Research in Corporate and Shari'ah Governance in the Muslim World by : Toseef Azid

Download or read book Research in Corporate and Shari'ah Governance in the Muslim World written by Toseef Azid and published by Emerald Group Publishing. This book was released on 2019-05-20 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in Corporate and Shari'ah Governance in the Muslim World: Theory and Practice aims to address a critical disciplinary gap between Islamic theory and the practice of the corporate sector in the Muslim World. Adopting a critical approach, the book sheds light on the impact of corporate governance on the economies of the Muslim world.

The Association Between Corporate Governance Attributes and Voluntary Disclosure

Author : Balachandran Muniandy
Publisher :
ISBN 13 :
Total Pages : 424 pages
Book Rating : 4.:/5 (495 download)

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Book Synopsis The Association Between Corporate Governance Attributes and Voluntary Disclosure by : Balachandran Muniandy

Download or read book The Association Between Corporate Governance Attributes and Voluntary Disclosure written by Balachandran Muniandy and published by . This book was released on 2008 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Additionally, it is revealed that there are some companies that do not have independent directors on their board or audit committee. Further, the existence of an independent chairman on the board is also positively associated with the level of voluntary disclosure. Moreover, executive director share ownership is also negatively associated with voluntary disclosure. Finally, the presence of strong governance attributes and an improved regulatory environment enhances the strength of the association between the proportion of independent directors and the level of disclosure. There are limitations inherent in this study. This study is primarily based on companies' annual reports. The lack of publicly available information on Malaysian listed companies restricted the chosen methodology. This study has both theoretical and practical implications. From a theoretical perspective, it enhances understanding of the relationship between corporate governance attributes and agency costs. The study also offers useful insights to policy makers and regulators to facilitate their evaluation of the effectiveness of the new corporate governance code.

Globalization

Author : George Yungchih Wang
Publisher : BoD – Books on Demand
ISBN 13 : 1789850479
Total Pages : 228 pages
Book Rating : 4.7/5 (898 download)

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Book Synopsis Globalization by : George Yungchih Wang

Download or read book Globalization written by George Yungchih Wang and published by BoD – Books on Demand. This book was released on 2019-10-23 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization is a process of interaction and integration among people, businesses, institutions, and governments of different countries in many aspects surrounding human lives. It is not a threat to sovereignty or a form of Westernization. This book discusses international economics and globalization, explores global business strategies, deliberates business ethics and corporate social responsibility, and examines other related aspects from a global perspective.

Accounting Choices in Family Firms

Author : Silvia Ferramosca
Publisher : Springer
ISBN 13 : 3319735888
Total Pages : 276 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis Accounting Choices in Family Firms by : Silvia Ferramosca

Download or read book Accounting Choices in Family Firms written by Silvia Ferramosca and published by Springer. This book was released on 2018-03-13 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the current state of knowledge on the relationship between family firms and a wide range of accounting choices, including earnings management, accounting conservatism, and financial and non-financial disclosure. In examining the choices made in family firms, the authors explore and elucidate the relevance of agency, socioemotional wealth, stewardship, and resource-based theories. Readers will also find close consideration of the impacts of a country’s culture and societal values on accounting choices. In particular, further evidence is provided on the impact of different cultures on accounting conservatism in family businesses. Finally, avenues for future accounting research on family firms are discussed, highlighting theoretical and empirical challenges. In addition to offering a revealing analysis of the influence of ownership types and cultures on accounting choices within family firms, the book identifies significant practical implications for the management of family firms and policy implications for regulators and standard setters.

Ecic 2017 - 9th European Conference on Intellectual Capital

Author : Ilídio Tomás Lopes
Publisher : Academic Conferences and publishing limited
ISBN 13 : 1911218301
Total Pages : 414 pages
Book Rating : 4.9/5 (112 download)

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Book Synopsis Ecic 2017 - 9th European Conference on Intellectual Capital by : Ilídio Tomás Lopes

Download or read book Ecic 2017 - 9th European Conference on Intellectual Capital written by Ilídio Tomás Lopes and published by Academic Conferences and publishing limited. This book was released on 2017-03-20 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: These proceedings represent the work of researchers participating in the 9th European Conference on Intellectual Capital (ECIC 2017) which is being hosted this year by the Instituto UniversitÁrio de Lisboa (ISCTE-IUL) on 6-7 April 2017. ECIC is a recognised event on the international research conferences calendar and provides a valuable platform for individuals to present their research findings, display their work in progress and discuss conceptual and empirical advances in the area of Intellectual Capital. It provides an important opportunity for researchers and practitioners to come together to share their experiences of researching in this varied and expanding field. The conference this year will be opened with a keynote presentation by Dr JosÉ Maria Viedma MartÍ from U.P.C., Polytechnic University of Catalonia in Barcelona, Spain and Prof. Maria Do Rosario Cabrita from Universidade Nova de Lisboa, Portugal who will together be talking about The Practice of Intellectual Capital in the Fourth Industrial Revolution. The second day of the conference will be opened by Dr Gregorio MartÍn-de Castro, from Complutense University of Madrid, Spain, who will address the topic Intellectual Capital: Linking Theory and Practice. With an initial submission of 98 abstracts, after the double blind, peer-review process there are 42 academic Research papers, 2 PhD Research, 1 Masters Research and 1 Work in Progress papers published in these Conference Proceedings. These papers represent truly global research in the field, with contributions from Australia, Colombia, Croatia, Egypt, Finland, France, Greece, Iran, Italy, Kazakhstan, Latvia, Lithuania, Poland, Portugal, Romania, Russia, South Africa, Spain, The Netherlands, Turkey, United Arab Emirates, UK and USA.

Macroeconomic Risk and Growth in the Southeast Asian Countries

Author : William A. Barnett
Publisher : Emerald Group Publishing
ISBN 13 : 1837972869
Total Pages : 207 pages
Book Rating : 4.8/5 (379 download)

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Book Synopsis Macroeconomic Risk and Growth in the Southeast Asian Countries by : William A. Barnett

Download or read book Macroeconomic Risk and Growth in the Southeast Asian Countries written by William A. Barnett and published by Emerald Group Publishing. This book was released on 2023-11-09 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: ASEAN economies have much insight to offer the world, from investor behaviour during COVID-19, and deep-rooted attitudes towards risk and corruption, to achievement of the Sustainable Development Goals through the gender perspective.

Risk Management and Corporate Governance

Author : Organization for Economic Cooperation and Development
Publisher : OCDE
ISBN 13 : 9789264208629
Total Pages : 0 pages
Book Rating : 4.2/5 (86 download)

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Book Synopsis Risk Management and Corporate Governance by : Organization for Economic Cooperation and Development

Download or read book Risk Management and Corporate Governance written by Organization for Economic Cooperation and Development and published by OCDE. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sixth peer review of the OECD Principles of Corporate Governance analyses the corporate governance framework and practices relating to corporate risk management, in the private sector and in state-owned enterprises. The review covers 26 jurisdictions and is based on a general survey of all participating jurisdictions in December 2012, as well as an in-depth review of corporate risk management in Norway, Singapore and Switzerland. The report finds that while risk-taking is a fundamental driving force in business and entrepreneurship, the cost of risk management failures is often underestimated, both externally and internally, including the cost in terms of management time needed to rectify the situation. The reports thus concludes that corporate governance should ensure that risks are understood, managed, and, when appropriate, communicated.

The Limits of Corporate Power

Author : Ira M. Millstein
Publisher : Beard Books
ISBN 13 : 9781587982026
Total Pages : 296 pages
Book Rating : 4.9/5 (82 download)

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Book Synopsis The Limits of Corporate Power by : Ira M. Millstein

Download or read book The Limits of Corporate Power written by Ira M. Millstein and published by Beard Books. This book was released on 2003 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reprint of a previosly published work. It deals with the constraints on corporate decison making.

Investor Protection and Corporate Governance

Author : Alberto Chong
Publisher : World Bank Publications
ISBN 13 : 0821369148
Total Pages : 584 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Investor Protection and Corporate Governance by : Alberto Chong

Download or read book Investor Protection and Corporate Governance written by Alberto Chong and published by World Bank Publications. This book was released on 2007-06-26 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level the first such data in the region and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.

Earnings Quality

Author : Jennifer Francis
Publisher : Now Publishers Inc
ISBN 13 : 1601981147
Total Pages : 97 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Earnings Quality by : Jennifer Francis

Download or read book Earnings Quality written by Jennifer Francis and published by Now Publishers Inc. This book was released on 2008 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.

Model Rules of Professional Conduct

Author : American Bar Association. House of Delegates
Publisher : American Bar Association
ISBN 13 : 9781590318737
Total Pages : 216 pages
Book Rating : 4.3/5 (187 download)

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Book Synopsis Model Rules of Professional Conduct by : American Bar Association. House of Delegates

Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

An International Comparison of Corporate Governance Models

Author : Gregory Francesco Maassen
Publisher : Gregory Maassen
ISBN 13 : 9090125914
Total Pages : 228 pages
Book Rating : 4.0/5 (91 download)

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Book Synopsis An International Comparison of Corporate Governance Models by : Gregory Francesco Maassen

Download or read book An International Comparison of Corporate Governance Models written by Gregory Francesco Maassen and published by Gregory Maassen. This book was released on 1999 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Governance and Accountability of Financial Institutions

Author : Jonas Abraham Akuffo
Publisher : Springer Nature
ISBN 13 : 3030640469
Total Pages : 428 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Corporate Governance and Accountability of Financial Institutions by : Jonas Abraham Akuffo

Download or read book Corporate Governance and Accountability of Financial Institutions written by Jonas Abraham Akuffo and published by Springer Nature. This book was released on 2021-01-06 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The presence of sound corporate governance in a financial institution is important in maintaining the confidence of both the market and the public. The power that corporate governance holds over the success of some of the largest financial institutions in the world is not to be downplayed. This book methodically assesses the quality of corporate governance and mechanisms of accountability disclosures to various stakeholders. It is further intended to provide fresh insights into some specific corporate governance recommendations to help improve good governance in financial institutions, particularly in the United Kingdom and the EU but will also be applicable to other major economies. It explores what, when and how corporate governance has changed the financial institution functions and corporate executive behaviour by critically reviewing the pre- and post-financial crisis theoretical and empirical literature. Increasingly driven by the nature of complications, complexities and opacity in the operations of financial systems, corporate governance reporting plays an important role in the financial sector. It will provide insights into corporate governance disclosures over a long-term basis. This book should be a valuable asset to support the research of practitioners, students and all academics due to its stimulating and reflective insights into this fascinating topic.

Pay Without Performance

Author : Lucian A. Bebchuk
Publisher : Harvard University Press
ISBN 13 : 9780674020634
Total Pages : 308 pages
Book Rating : 4.0/5 (26 download)

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Book Synopsis Pay Without Performance by : Lucian A. Bebchuk

Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.

Time Series and Dynamic Models

Author : Christian Gourieroux
Publisher : Cambridge University Press
ISBN 13 : 9780521411462
Total Pages : 692 pages
Book Rating : 4.4/5 (114 download)

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Book Synopsis Time Series and Dynamic Models by : Christian Gourieroux

Download or read book Time Series and Dynamic Models written by Christian Gourieroux and published by Cambridge University Press. This book was released on 1997 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book Christian Gourieroux and Alain Monfort provide an up-to-date and comprehensive analysis of modern time series econometrics. They have succeeded in synthesising in an organised and integrated way a broad and diverse literature. While the book does not assume a deep knowledge of economics, one of its most attractive features is the close attention it pays to economic models and phenomena throughout. The coverage represents a major reference tool for graduate students, researchers and applied economists. The book is divided into four sections. Section one gives a detailed treatment of classical seasonal adjustment or smoothing methods. Section two provides a thorough coverage of various mathematical tools. Section three is the heart of the book, and is devoted to a range of important topics including causality, exogeneity shocks, multipliers, cointegration and fractionally integrated models. The final section describes the main contribution of filtering and smoothing theory to time series econometric problems.