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Author : Attiya Y. Javed
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Relationship Between Corporate Governance Indicators and Firm Value written by Attiya Y. Javed and published by . This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264179542
Total Pages : 91 pages
Book Rating : 4.2/5 (641 download)
Download or read book Corporate Governance, Value Creation and Growth The Bridge between Finance and Enterprise written by OECD and published by OECD Publishing. This book was released on 2012-08-20 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the role of corporate governance arrangements in providing right incentives to contribute the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks.
Author : Suzanne Benn
Publisher : Routledge
ISBN 13 : 1136009345
Total Pages : 271 pages
Book Rating : 4.1/5 (36 download)
Download or read book Corporate Governance and Sustainability written by Suzanne Benn and published by Routledge. This book was released on 2013-01-11 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, as corporations and governments have increasingly been confronted with managing the expectations of a society newly alerted to the social and environmental risks of economic development, recognition is dawning that achieving a sustainable world is dependent upon the democratic management and equitable distribution of these risks for now, and for the future. This book, the first to explore the themes of corporate governance and sustainability, argues that a better system of governance on a number of levels holds the key. Contributed to and edited by a distinguished international team, this book recognizes the complex and contested nature of both sustainability and governance, and that these key concepts have been redefined considerably over time. As sustainability poses new and major challenges for the theory and practice of corporate governance, this book, ideal for postgraduate students of business and management, identifies and addresses these challenges.
Author : Maik Kleinschmidt
Publisher : Springer Science & Business Media
ISBN 13 : 3835095498
Total Pages : 310 pages
Book Rating : 4.8/5 (35 download)
Download or read book Venture Capital, Corporate Governance, and Firm Value written by Maik Kleinschmidt and published by Springer Science & Business Media. This book was released on 2007-11-09 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maik Kleinschmidt explores the determinants of venture capitalists’ influence as well as their impact on the corporate governance of portfolio companies and analyses the influence of corporate governance on the companies’ firm value. His findings support the hypothesis that venture capitalists improve the corporate governance of their portfolio companies and that their abilities determine their impact. Moreover, they show the positive impact of good corporate governance on some measures for firm value.
Author : Sebastian Schilling
Publisher : diplom.de
ISBN 13 : 3832468552
Total Pages : 121 pages
Book Rating : 4.8/5 (324 download)
Download or read book Does Corporate Governance Affect Firm Value? written by Sebastian Schilling and published by diplom.de. This book was released on 2003-05-27 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: This thesis provides evidence that companies showing stronger corporate governance performance are on average also valued higher in terms of Tobin s q. This evidence is found using a dataset of 242 of Europe s largest corporations listed in the FTSE Eurotop 300 index. For each of these corporations, a dataset of over 300 corporate governance rating variables is analysed to establish a detailed overview of a firm s corporate governance performance. These 300 rating variables result out of a corporate governance standard established by an independent rating agency in cooperation with the largest European institutional investors and in reference to the respective national corporate governance codes of the companies in the sample. The final regression model containing independent score components for Corporate Governance performance and financial performance proxied by ROA represents an R square adjusted of 42 per cent, thereby making the model and the inherent coefficients highly representative. The coefficient of the corporate governance score component suggests that, ceteris paribus, a one point increase in the value of the score component leads on average to a 0.3 point increase in Tobin s q. The statistical findings are tested in depth for their practical validity in the subsequent Interview with the DWS Investment Group. Inhaltsverzeichnis:Table of Contents: Abstractiii 1.Introduction1 2.An Introduction to Corporate Governance6 2.1The Agency Problem6 2.1.1Transaction Conditions8 2.1.2Incentive Mechanisms10 2.1.3Economic Importance11 2.1.4Intermediate Conclusion12 2.2The Stakeholder Impact on Corporate Governance12 2.2.1Corporate Governance, contractual governance, and work governance13 2.3Culture, ownership concentration and law15 2.4Corporate Governance: A Definition18 3.The Corporate Governance Rating Framework20 3.1Rights and Duties of Shareholders20 3.1.1Academic Review21 3.1.2Key Criteria and Best Practice Recommendations21 3.1.3Code Review24 3.2Range of Takeover Defenses24 3.2.1Academic Review24 3.2.2Key Criteria and Best Practice Recommendations25 3.2.3Codes26 3.3Disclosure on Corporate Governance27 3.3.1Academic Review27 3.3.2Key Criteria and Best Practice Recommendations28 3.3.3Code Review30 3.4Board Structure and Functioning31 3.5Conclusion36 4.Statistical Analysis38 4.1Data39 4.1.1Corporate Governance Rating Data39 4.1.2Financial Data39 4.1.3Analysis of Omission [...]
Author : Hamizah Hassan
Publisher : Nova Science Publishers
ISBN 13 : 9781536126341
Total Pages : 251 pages
Book Rating : 4.1/5 (263 download)
Download or read book Corporate Governance, Agency Theory and Firm Value written by Hamizah Hassan and published by Nova Science Publishers. This book was released on 2017 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction and context -- Corporate governance and firm value: issues-causality, interaction and non-linearity -- Econometric methods: data, summary statistics and models -- Empirical evidence 1: causality model results -- Empirical evidence 2: interaction model results -- Empirical evidence 3: non-linear model results -- Corporate governance and firm value: findings and conclusion
Author : Claudio G. Müller
Publisher : Routledge
ISBN 13 : 1351580698
Total Pages : 231 pages
Book Rating : 4.3/5 (515 download)
Download or read book Family Firms in Latin America written by Claudio G. Müller and published by Routledge. This book was released on 2018-09-03 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the first books of its kind to highlight family firms in a Latin American context, helping students to understand the distinctive nature and challenges of Latin American family businesses and how these issues compare to family businesses around the world. Building on their experience in teaching, research, speaking, and consulting on the subject of family firms in Latin America, the editors explain the need to implement and adapt traditional frameworks in the changing Latin American reality. Each section provides background on the most important topics in the management of family firms, including strategy, entrepreneurship, and performance, followed by illustrative cases and a discussion of how this knowledge is similar to or different from other parts of the world. The book’s clear writing and in-depth approach will appeal to undergraduate and graduate students of international business, business in Latin America, and family business.
Author : Bala N. Balasubramanian
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Relation Between Firm-Level Corporate Governance and Market Value written by Bala N. Balasubramanian and published by . This book was released on 2018 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relatively little is known about the corporate governance practice of firms in emerging markets. We provide a detailed overview of the practices of publicly traded firms in India, and identify areas where governance practices are relatively strong or weak, relative to developed countries. We also examine whether there is a cross-sectional relationship between measures of governance and measures of firm performance and find evidence of a positive relationship for an overall governance index and for an index covering shareholder rights. The association is stronger for more profitable firms and firms with stronger growth opportunities.
Author : Alberto Chong
Publisher : World Bank Publications
ISBN 13 : 0821369148
Total Pages : 584 pages
Book Rating : 4.8/5 (213 download)
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.
Author : Luc Laeven
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Complex Ownership Structures and Corporate Valuations written by Luc Laeven and published by International Monetary Fund. This book was released on 2007-06 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders. In this paper, we question the empirical validity of this dichotomy. In fact, one-third of publicly listed firms in Europe have multiple large owners, and the market value of firms with multiple blockholders differs from firms with a single large owner and from widely-held firms. Moreover, the relationship between corporate valuations and the distribution of cash-flow rights across multiple large owners is consistent with the predictions of recent theoretical models.
Author : John Duns
Publisher : Edward Elgar Publishing
ISBN 13 : 1785362577
Total Pages : 529 pages
Book Rating : 4.7/5 (853 download)
Download or read book Comparative Competition Law written by John Duns and published by Edward Elgar Publishing. This book was released on 2015-11-27 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comparative Competition Law examines the key global issues facing competition law and policy. This volume’s specially commissioned chapters by leading writers from the United States, Europe, Asia, South America, and Australia provide a synthesis of how these current issues are addressed by drawing on the approaches taken in different jurisdictions around the world. Expert contributors examine the regulation of core competitive conduct by comparing substantive law approaches in the US and the EU. The book then explores issues of enforcement – such as the regulator’s powers, whether to criminalize anti-competitive conduct, the degree to which private enforcement ought to be encouraged, and the extraterritorial scope of domestic laws. Finally, the book discusses how competition law is being implemented in a variety of countries, including Japan, China, Brazil, Chile, and Colombia. This scholarly analysis of the key substantive, procedural, and remedial challenges facing global competition law policymakers offers a comparative framework to facilitate a better understanding of relevant policies. This collection of global perspectives will be of great interest to scholars and students of competition law, microeconomics, and regulatory studies. Competition law regulators, policy makers, and law practitioners will also find this book an invaluable resource.
Author : Leon Berthold Vögele
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (114 download)
Download or read book Corporate Governance and Firm Performance Revisited written by Leon Berthold Vögele and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper at hand reexamines the correctness of the E Index provisions (excluding golden parachutes) of an ISS dataset of approximately 1,500 U.S. firms per year for the period of 2007 to 2016 through primary sources. Likewise, it analyzes the statistical relation between the E Index and firm value as well as between the E Index and abnormal monthly returns for both the ISS data and the revisited data from primary sources. This is realized through several regressions including control variables comparable to those used by previous academic research. The comparison has shown that the ISS data is vastly incorrect in each year and provision although some provisions are affected more than others are. In 2016, the mean E Index difference between the ISS data and the revisited data is 0.97 points per firm and thus shows the limited reliability of ISS data over this period. The first regression analysis provides evidence for an inversely correlated relationship between the E Index and firm value and supports the findings of previous literature. Thereby, the revisited data shows a stronger negative correlation than the ISS data. However, if fixed firm effects are included, this inverse correlation lacks robustness. Finally, the paper does not detect a clear tendency of negative correlation between the E Index score and abnormal monthly returns or long-short portfolios for either of the datasets.
Author : Dennis Eggert
Publisher : GRIN Verlag
ISBN 13 : 3638807584
Total Pages : 30 pages
Book Rating : 4.6/5 (388 download)
Download or read book Corporate Governance und Unternehmenswert written by Dennis Eggert and published by GRIN Verlag. This book was released on 2007-09 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of Bonn (BWL 1 - Finanzwirtschaftliches Institut), course: Seminar "Corporate Governance", 48 entries in the bibliography, language: English, abstract: In this paper I outline the relationship between Corporate Governance (CG) and the valuation of a firm. Working through the huge body of empirical research I want to give a clear picture of the mechanisms and their relative importance in influencing the valuation. At first I clearly define what I am speaking about: What is Corporate Governance? What do I mean when I speak about "Corporate Valuation"? Once the terms are clear the main question is: Why are these two things connected? What are the theoretical arguments? To evaluate the empirical findings I shortly describe beforehand the statistical problems and pitfalls that arise within this research. With this stable fundament I describe, comprehend and evaluate the descriptive research that has been done until today. Throughout this part I also pay attention to the used methodology. The aim is to give the reader a comprehensive and clear answer to the question how does Corporate Governance influence the Corporate Valuation.
Author : Sabri Boubaker
Publisher : Springer Science & Business Media
ISBN 13 : 3642449557
Total Pages : 625 pages
Book Rating : 4.6/5 (424 download)
Download or read book Corporate Governance in Emerging Markets written by Sabri Boubaker and published by Springer Science & Business Media. This book was released on 2014-04-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills the gap between theories and practices of corporate governance in emerging markets by providing the reader with an in-depth understanding of governance mechanisms, practices and cases in these markets. It is an invaluable resource not only for academic researchers and graduate students in law, economics, management and finance but also for people practicing governance such as lawmakers, policymakers and international organizations promoting best governance practices in emerging countries. Investors can benefit from this book to better understand of these markets and to make judicious investment decisions.
Author : Gabriela Monreal Vigo
Publisher :
ISBN 13 :
Total Pages : 90 pages
Book Rating : 4.:/5 (133 download)
Download or read book Corporate Governance and Firms' Value in Canada 2005-2010 written by Gabriela Monreal Vigo and published by . This book was released on 2012 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The purpose of this paper is to examine the relationship between corporate governance and the value of 115 Canadian companies for the period of 2005-2010, using such indicator as corporate governance index (CGI). This index includes four sub-indices: board composition (BC), compensation policies (C), shareholders rights (SR), and disclosure policies (D). The index is based primarily on values given by the Globe and Mail’s Report on Business (ROB) from various years and various measures of firms’ performance. It also compares various profitability indicators and other parameters obtained from balance sheets, income statements and financial data from the OSIRIS database and S&P Capital IQ, among others. Overall, this study does not find a relationship between corporate governance and the various measure of a firm’s value."--P. iii.
Author : Pankaj Varshney
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Corporate Governance Index and Firm Performance written by Pankaj Varshney and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior studies using an index of corporate governance to explore the relationship between corporate governance and firm performance have found a positive linkage between the two i.e. better governed firms exhibit better financial performance. Following the seminal work of Gompers, Ishii, and Metrick (2003) of creating a corporate governance index to study the relationship between corporate governance and firm performance, similar studies have been reported not only from developed markets like Germany, Canada, Hong Kong, Switzerland, and Australia, but also from emerging markets like Ukraine, Russia, Greece, Thailand, and India. In the present study, we investigate the relationship between corporate governance and firm performance in the Indian context by constructing a corporate governance index based on internal and external corporate governance mechanisms. Further, we use value-based performance measure - Economic Value Added (EVA), as the primary metrics to measure firm performance. Besides EVA, traditional measures such as Return on Networth, Return on Capital employed and Tobin's Q have also been used to evaluate the linkage between corporate governance and firm performance. Using various econometric techniques, we conclude that there is a positive relationship exists between corporate governance based on the corporate governance index and firm performance, when the performance is measured in terms of the value-based performance tool - Economic Value Added (EVA). The relationship could not be validated for the traditional performance tools - RONW, ROCE or Tobin's Q.
Author : Paolo Saona Hoffmann
Publisher : BoD – Books on Demand
ISBN 13 : 1789234948
Total Pages : 151 pages
Book Rating : 4.7/5 (892 download)
Download or read book Firm Value written by Paolo Saona Hoffmann and published by BoD – Books on Demand. This book was released on 2018-08-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume aims to discuss the most contemporary state of the determinants of the firm value. This book presents theoretical works as well as empirical studies that contrast the arguments offered by the leading, ground-breaking theories on the firm value. What variables determine the firm value? Are these determinants controllable or uncontrollable by the managers of the companies? Is the impact of corporate governance systems on the firm value symmetrical between different institutional contexts? Do the financial reports affect the value of the firm? What role does corporate social responsibility play as a determinant of the firm value? These and other questions are analyzed and scrutinized step by step throughout this book.
