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Author : Johannes Tshipa
Publisher :
ISBN 13 :
Total Pages : 182 pages
Book Rating : 4.:/5 (864 download)
Download or read book The Impact of Internal Corporate Governance Structures on Firm Performance written by Johannes Tshipa and published by . This book was released on 2013 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rakesh Khurana
Publisher : Princeton University Press
ISBN 13 : 1400841097
Total Pages : 318 pages
Book Rating : 4.4/5 (8 download)
Download or read book Searching for a Corporate Savior written by Rakesh Khurana and published by Princeton University Press. This book was released on 2011-09-19 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate CEOs are headline news. Stock prices rise and fall at word of their hiring and firing. Business media debate their merits and defects as if individual leaders determined the health of the economy. Yet we know surprisingly little about how CEOs are selected and dismissed or about their true power. This is the first book to take us into the often secretive world of the CEO selection process. Rakesh Khurana's findings are surprising and disturbing. In recent years, he shows, corporations have increasingly sought CEOs who are above all else charismatic, whose fame and force of personality impress analysts and the business media, but whose experience and abilities are not necessarily right for companies' specific needs. The labor market for CEOs, Khurana concludes, is far less rational than we might think. Khurana's findings are based on a study of the hiring and firing of CEOs at over 850 of America's largest companies and on extensive interviews with CEOs, corporate board members, and consultants at executive search firms. Written with exceptional clarity and verve, the book explains the basic mechanics of the selection process and how hiring priorities have changed with the rise of shareholder activism. Khurana argues that the market for CEOs, which we often assume runs on cool calculation and the impersonal forces of supply and demand, is culturally determined and too frequently inefficient. Its emphasis on charisma artificially limits the number of candidates considered, giving them extraordinary leverage to demand high salaries and power. It also raises expectations and increases the chance that a CEO will be fired for failing to meet shareholders' hopes. The result is corporate instability and too little attention to long-term strategy. The book is a major contribution to our understanding of corporate culture and the nature of markets and leadership in general.
Author : Collins Gyakari Ntim
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (757 download)
Download or read book Internal Corporate Governance Structures and Firm Financial Performance written by Collins Gyakari Ntim and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contains the findings of an examination of the relationship between internal corporate governance structures and the financial performance of South African listed firms. Specifically, using a sample of 100 South African listed firms from 2002 to 2006 (a total of 500 firm-year observations) and corporate governance data collected directly from company annual reports, the thesis seeks to ascertain whether better-governed listed firms tend to be associated with higher financial returns than their poorly-governed counterparts. Unlike prior studies, the internal corporate governance-financial performance nexus is investigated by applying both the compliance-index and equilibrium-variable research methodologies. The results based on the compliance-index model suggest that there is a statistically significant and positive association between the quality of the sampled firms? internal corporate governance structures and their financial performance. This finding is robust whether an accounting (return on assets) or a market (Tobin?s Q) based measure of financial performance is used. Distinct from prior studies, an analysis of the impact of complying with the South African context specific affirmative action and stakeholder corporate governance provisions on the financial performance of South African listed firms is also investigated. The results indicate that compliance with the affirmative action and stakeholder corporate governance provisions impacts positively on the performance of South African listed firms. By contrast, the results based on the equilibrium-variable model are generally mixed. First, regardless of the financial performance measure used, board diversity, the frequency of board meetings, and the establishment of board committees except the presence of a nomination committee seem to have no impact on firm financial performance. Second, board size is statistically significant and positively associated with Tobin?s Q (Q-ratio), but statistically insignificant and negatively related to return on assets (ROA). Third, role or CEO duality is statistically significant and positively related to ROA, but statistically insignificant and negatively associated with the Q-ratio. Director shareownership is statistically insignificant and positively related to ROA, but statistically significant and negatively associated with the Q-ratio. Finally, the findings based on both the director shareownership squared and cubed do not support the statistically significant non-linear director shareownership-financial performance association reported by Morck et al. (1988). The findings from a series of robustness or sensitivity analyses carried out suggest that the empirical results reported are generally robust to potential endogeneity problems.
Author : Khaldoun Abd Allh Mahmoud Alwshah
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (858 download)
Download or read book The Impact of Corporate Governance and Ownership Structure on Performance and Financial Decisions of Firms written by Khaldoun Abd Allh Mahmoud Alwshah and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark Hirschey
Publisher : Emerald Group Publishing
ISBN 13 : 1848555377
Total Pages : 268 pages
Book Rating : 4.8/5 (485 download)
Download or read book Corporate Governance and Firm Performance written by Mark Hirschey and published by Emerald Group Publishing. This book was released on 2009-04-16 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on corporate governance, broadly defined as the system of controls that helps corporations and other organizations effectively manage, administer, and direct economic resources. This book focuses on: the impact of deregulation and corporate structure on productive efficiency; and the effectiveness of the fraud triangle and SAS.
Author : Daoud Abdellatef Jerab
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Effect of Internal Corporate Governance Mechanisms on Corporate Performance written by Daoud Abdellatef Jerab and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to explore effect of internal corporate governance mechanisms on company performance. Whether a good corporate governance causes higher firm performance is still a valid research question for reasons like ambiguity regarding the direction of causality. An empirical study was conducted in studying the effect of different of corporate governance internal mechanisms on corporate performance. The result of showed that internal corporate governance mechanism represented by Ownership Structure, Board of Directors, Management Remuneration, Internal Control & Audit and Transparency & Disclosure have a great effect on corporate performance. The corporate performance evaluation criteria's used in this study: Financial Viability, Corporate Growth, Effectiveness, Efficiency, and Risk Reduction are affected by Internal corporate governance mechanisms. The study reveals also that corporate governance affects highly company performance in the medium to long term runs but in the short term performance does not necessarily depend on governance.
Author : Lex Donaldson
Publisher :
ISBN 13 : 9781862740747
Total Pages : 25 pages
Book Rating : 4.7/5 (47 download)
Download or read book CEO Governance and Shareholder Returns written by Lex Donaldson and published by . This book was released on 1990 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shveta Singh
Publisher : Springer Nature
ISBN 13 : 9811924600
Total Pages : 204 pages
Book Rating : 4.8/5 (119 download)
Download or read book Corporate Governance Mechanisms and Firm Performance written by Shveta Singh and published by Springer Nature. This book was released on 2022-05-12 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book begins by analysing the various corporate governance mechanisms explored in the extant literature and determining their effectiveness in enhancing the firm value using multivariate analysis. The findings are of global relevance as the corporate governance regulations of most countries focus on independent directors as the mainstay of good governance. The empirical evidence from the first objective of this study corroborates the claim that independent directors do not strengthen the firms’ governance quality. The book is one of the few works to have analysed the possible reasons behind the ineffectiveness of the independent directors. Also, in view of the famous concept of the bundle of governance mechanisms, it might be possible that the independent directors strengthen the firms’ governance quality indirectly by strengthening other governance mechanisms. This aspect too has little precedence. This study adopts a novel moderation and mediation approach to analyse the monitoring behaviour of independent directors in relation to other governance mechanisms. The work is a must read for corporate players as well as researchers and scholars studying this discipline.
Author : PhD Mamun (FCMA, Syed A.)
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Impact of Internal Corporate Governance on Firm Performance written by PhD Mamun (FCMA, Syed A.) and published by . This book was released on 2017 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Internal Corporate governance refers to the controlling mechanism of various internal actors of a firm. The aim of the study is to explore the impact of internal corporate governance (CG) mechanism on firm performance in three Asian countries namely Bangladesh, Malaysia, and Singapore. Results show that Board Size, Board Independence and CEO Duality have impact on firm performance. Though the impact of CG on firm performance is significant in Singapore, the impact is not significant in Bangladesh and Malaysia. These findings of the study have significant implications to public policy makers and corporate managers to understand the evolution and effectiveness of internal CG practices in different Asian countries.
Author : Subhan Ullah
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (112 download)
Download or read book The Impact of Internal Corporate Governance Mechanisms on the Performance of Firms written by Subhan Ullah and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : H. Kent Baker
Publisher : John Wiley & Sons
ISBN 13 : 0470877952
Total Pages : 690 pages
Book Rating : 4.4/5 (78 download)
Download or read book Corporate Governance written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2010-08-20 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed look at the importance of corporate governance in today's business world The importance of corporate governance became dramatically clear at the beginning of the twenty-first century as a series of corporate meltdowns from managerial fraud, misconduct, and negligence caused a massive loss of shareholder wealth. As part of the Robert W. Kolb Series in Finance, this book provides a comprehensive view of the shareholder-manager relationship and examines the current state of governance mechanisms in mitigating the principal-agent conflict. This book also offers informed suggestions and predictions about the future direction of corporate governance. Relies on recent research findings to provide guidance through the maze of theories and concepts Uses a structured approach to put corporate governance in perspective Addresses essential issues related to corporate governance including the idea of principal-agent conflict, role of the board of directors, executive compensation, corporate monitoring, proxy contests and corporate takeovers, and regulatory intervention Corporate governance is an essential part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.
Author : Douglas A. Peebles
Publisher :
ISBN 13 : 9781109919226
Total Pages : 293 pages
Book Rating : 4.9/5 (192 download)
Download or read book Corporate Governance and Firm Performance: The Influence of Structures, Processes, and Information Technology written by Douglas A. Peebles and published by . This book was released on 2007 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolving governance practices have resulted in boards of directors being made more responsible for creating strategy instead of simply approving strategy. As information technology (IT) becomes more important to the operations of business, IT also becomes more crucial to business strategy. With the shift of responsibility for strategy creation from the executive level to the board level, a number of researchers have recommended that responsibility for the governance of information technology should also shift to the board level. The Sarbanes-Oxley Act has mandated many governance changes in the U.S., and along with additional reports and studies, has influenced governance changes in other jurisdictions. Many of these changes have required increased reliance on information technology, reinforcing the importance of IT to corporate governance. The purpose of this study is to determine if board-level IT focus, board-level IT literacy, governance structures, governance practices, and governance disclosures are associated with firm performance in Canadian companies. This study uses an agency theory approach and quantitative analyses of data from 2004 and earlier from companies that comprised the Toronto Stock Exchange S&P/TSX Composite Index at the end of 2004. Four research questions and 15 hypotheses are investigated. The findings indicate that board-level IT literacy and IT focus are significantly associated with firm performance. Gender diversity was found to be positively associated with performance, but in general, governance structures linked with board independence were found not to be associated with performance. Best practices in stock options and aligning directors' interests with those of the firm through shareholding requirements were found to be positively associated with performance. Only a weak link was found between disclosure practices and firm performance.
Author : Jonathan Karpoff
Publisher : Blackwell Publishing
ISBN 13 : 9780943205281
Total Pages : 33 pages
Book Rating : 4.2/5 (52 download)
Download or read book Corporate Governance and Firm Performance written by Jonathan Karpoff and published by Blackwell Publishing. This book was released on 2000-11-09 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many studies indicate that a company's stock price decreases when the company adds restrictions regarding corporate governance to its charter or bylaws. The authors of this monograph analyzed the effect of 20 different governance provisions and report that companies with the fewest restrictive provisions in their industries have the best industry-adjusted performance.
Author : M. Babajide Wintoki
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (129 download)
Download or read book Endogeneity and the Dynamics of Internal Corporate Governance written by M. Babajide Wintoki and published by . This book was released on 2015 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a well-developed dynamic panel GMM estimator to alleviate endogeneity concerns in two aspects of corporate governance research: the effect of board structure on firm performance and the determinants of board structure. The estimator incorporates the dynamic nature of internal governance choices to provide valid and powerful instruments that address unobserved heterogeneity and simultaneity. We re-examine the relation between board structure and performance using the GMM estimator in a panel of 6,000 firms over a period from 1991-2003, and find no causal relation between board structure and current firm performance. We illustrate why other commonly used estimators that ignore the dynamic relationship between current governance and past firm performance may be biased. We discuss where it may be appropriate to consider the dynamic panel GMM estimator in corporate governance research, as well as caveats to its use.
Author : David Larcker
Publisher : FT Press
ISBN 13 : 0132367076
Total Pages : 497 pages
Book Rating : 4.1/5 (323 download)
Download or read book Corporate Governance Matters written by David Larcker and published by FT Press. This book was released on 2011-04-14 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions.
Author : Kevin Keasey
Publisher : John Wiley & Sons
ISBN 13 : 0470870311
Total Pages : 482 pages
Book Rating : 4.4/5 (78 download)
Download or read book Corporate Governance written by Kevin Keasey and published by John Wiley & Sons. This book was released on 2005-05-05 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decade since the publication of the Cadbury Report in1992 has seen growing interest in corporate governance. This growth has recently become an explosion with major corporate scandals such as WorldCom and Enron in the US, the international diffusion of corporate governance codes and wider interest in researching corporate governance in different institutional contexts and through different subject lenses. In view of these developments, this book will be a rigorous update and development of the editor’s earlier work, Corporate Governance: Economic, Management and Financial Issues. Each chapter, written by an expert in the subject offers a high level review of the topic, embracing material from financial accounting, strategy and economic perspectives.
Author : Henry Hansmann
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Governance of Foundation-Owned Firms written by Henry Hansmann and published by . This book was released on 2018 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the extensive attention paid to corporate governance in the literature of both law and economics in recent years, empirical work to date has largely failed to establish a link between formal governance structures and economic performance. In this paper, we explore the relationship between corporate governance structures and economic performance in a setting that is, in important respects, more favorable than the publicly-traded U.S. business corporations that are the typical focus of previous research. We work with a rich data set comprising 121 Danish industrial foundations, which are industrial companies controlled by autonomous nonprofit foundations. These industrial foundations have several important advantages as subjects of study. First, by conventional measures, the industrial companies perform, on average, as efficiently as their investor-owned counterparts - a remarkable fact, given their ownership structure. Second, because the management of the companies is ultimately in the hands of a self-perpetuating board of directors that is free of control by outside owners, the impact of the firm's internal governance structure on managerial decision-making, and hence on company performance, should be both more intense and more easily isolated than in conventional investor-owned firms. Third, the industrial foundations display broader variance in internal governance structures than do U.S. business corporations.We focus in particular on a composite structural factor we term “managerial distance.” We interpret this as a measure of the clarity and objectivity with which a firm's top managers are induced to focus on the operating company's profitability. More particularly, managerial distance seems best interpreted as a factor, or aggregate of component factors, that put the firm's top managers in the position of “virtual owners,” in the sense that the information and decisions facing the managers are framed for them in roughly the way they would be framed for true owners of the firm. Our empirical analysis shows a positive, significant, and robust association between managerial distance and company economic performance. The findings appear to illuminate not just foundation governance, but corporate governance more generally.
