Corporate Board role duties and composition最新文献

Identifying and discussing the challenges for boards to manage ESG measures 确定并讨论董事会在管理ESG指标方面面临的挑战

Corporate Board role duties and composition Pub Date : 2022-01-01 DOI: 10.22495/cbv18i1art1

Hugh Grove, Maclyn Clouse, Tracy Xu

引用次数: 12

Corporate governance and the characteristics of the board of directors: Evidence from an emerging market 公司治理与董事会特征:来自新兴市场的证据

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I1ART2

Ahmed S. Alanazi

{"title":"Corporate governance and the characteristics of the board of directors: Evidence from an emerging market","authors":"Ahmed S. Alanazi","doi":"10.22495/CBV15I1ART2","DOIUrl":"https://doi.org/10.22495/CBV15I1ART2","url":null,"abstract":"The aim of this paper is to investigate the impact of the characteristics of the board of directors on the quality of corporate governance. The paper attempts to uncover the board characteristics that contribute to better corporate governance quality. The paper exploits a unique dataset of the corporate governance index developed by the Corporate Governance Centre for the 92 largest Saudi listed firms for the fiscal year of 2015. Several board characteristics are regressed on the corporate governance scores to find an association. The size of the board of directors is positively associated with better corporate governance quality. In other words, large boards have better corporate governance. Furthermore, large block-holders and government ownership contribute significantly to better corporate governance quality. Contrary to expectations, independent members are negatively linked to corporate governance quality. Companies with a large number of independent members show lower corporate governance quality. Finally, other characteristics of board committees and boards meetings do not show links to corporate governance quality. To the best of the author’s knowledge, this is the first paper to attempt to uncover the association between the characteristics of the board of directors and corporate governance quality in the Middle-East (the emerging market of Saudi Arabia). Several papers attempted to study governance issues in the Middle-East, but no direct examination of board characteristics and governance quality was conducted. Most studies investigated the issue of corporate governance and firm performance.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129861455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 10

Book review: “Challenges and opportunities in Italian corporate governance” 书评:《意大利公司治理的挑战与机遇》

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv15i2art6

U. Braendle, A. Kostyuk

引用次数: 5

Behavioral analysis of mergers and acquisitions decisions 并购决策的行为分析

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv15i3art1

Daisuke Asaoka

{"title":"Behavioral analysis of mergers and acquisitions decisions","authors":"Daisuke Asaoka","doi":"10.22495/cbv15i3art1","DOIUrl":"https://doi.org/10.22495/cbv15i3art1","url":null,"abstract":"Mergers and acquisitions (M&A) are among the key strategic decisions that firms make. But the problem is that they often result in failure and impairment loss, with the fair value of the acquisition price becoming an issue that poses the risk of overvaluation. The purpose of this paper is to explain the nature of this risk by shedding light on the errors and biases of decision-making managers and directors and their effect on decision-making processes which involve a high degree of discretion and judgment. The paper finds that biases causing overvaluation include overconfidence by managers; an escalation of bidding prices leading to winner’s curse; anchoring in pricing; the endowment effect; and hindsight and confirmation biases. Corporate governance architecture can be designed to mitigate these biases while preserving the positive aspects of overconfidence, such as its promoting of productive and creative activities and coherent internal management. But it is not a panacea since independent directors also have biases and conflicts of interest inherent in the mechanism. Advancements in the understanding of human emotion and psychology promise to protect shareholders by deepening our understanding of corporate decisions.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131605203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7

Editorial note: A search for the best practices and standards 编者按:寻找最佳实践和标准

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I1_EDITORIAL

Sabri Boubaker

引用次数: 1

What determines takeover likelihood? A review and propositions for future research 是什么决定了收购的可能性?对未来研究的展望与展望

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv18i1art3

Abongeh A. Tunyi

{"title":"What determines takeover likelihood? A review and propositions for future research","authors":"Abongeh A. Tunyi","doi":"10.22495/cbv18i1art3","DOIUrl":"https://doi.org/10.22495/cbv18i1art3","url":null,"abstract":"Prior takeover prediction research has advanced eight hypotheses to explain why specific firms are targeted through takeovers (Palepu, 1986; Powell, 2001; Tunyi, 2021a). However, takeover targets remain difficult to empirically predict ex-ante, perhaps because these established sets of hypotheses do not substantially explain takeover likelihood (Danbolt, Siganos, & Tunyi, 2016). This paper reviews the literature on takeover prediction, particularly focusing on theory, propositions and testable hypotheses on the factors that drive firms’ takeover likelihood. Drawing from prior research outside this literature, the paper then develops conceptual arguments underlying six new predictors of firms’ takeover likelihood including; information asymmetry, mergers and acquisitions (M&A) rumours, financial distress, payroll synergies, share repurchases and industry competition. Specifically, we predict that a firm’s likelihood of receiving future takeover bids increases with merger rumours and industry competition and declines with information asymmetry and share repurchases. Additionally, takeover likelihood plausibly has an inverse U-shaped relationship with payroll excesses and the level of financial distress.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128122520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Board policy of humanitarian organizations towards creating and maintaining their employer brand during the COVID-19 pandemic 人道主义组织在2019冠状病毒病大流行期间创建和维护雇主品牌的董事会政策

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv17i3art1

Mohammad A. Ta’Amnha, Omar M. Bwaliez, I. Magableh, Ghazi A. Samawi, Metri F. Mdanat

{"title":"Board policy of humanitarian organizations towards creating and maintaining their employer brand during the COVID-19 pandemic","authors":"Mohammad A. Ta’Amnha, Omar M. Bwaliez, I. Magableh, Ghazi A. Samawi, Metri F. Mdanat","doi":"10.22495/cbv17i3art1","DOIUrl":"https://doi.org/10.22495/cbv17i3art1","url":null,"abstract":"The coronavirus disease 2019 (COVID-19) pandemic developed a new form of perceived organizational support called COVID 19-related organizational support (COVID-OS). This study investigates the role of COVID-OS in creating and maintaining an attractive employer brand. Although the COVID-19 pandemic has affected all types of organizations, both profit and nonprofit, the literature still lacks thorough research about the COVID-OS and employer brand in the context of nonprofit organizations (particularly the humanitarian ones). Based on in depth qualitative data drawn from 38 semi-structured interviews with humanitarian employees in Jordan during the COVID-19 pandemic, this study revealed that the board of humanitarian organizations can create and maintain their employer brand through providing different forms of organizational support to their employees. These forms of support are health and mental support, support from the working social environment, support of the work-life balance, providing online training and development programs, fair recognition and compensation programs, and leadership support. This study provides significant theoretical implications to the literature regarding the link between organizational support and employer brand. It also offers valuable practical implications for policymakers of humanitarian organizations.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"122 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127068589","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Does the existence of ethics and compliance committees improve stock market and financial performance?

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I1ART1

J. Holcomb, H. Grove, M. Clouse

{"title":"Does the existence of ethics and compliance committees improve stock market and financial performance?","authors":"J. Holcomb, H. Grove, M. Clouse","doi":"10.22495/CBV15I1ART1","DOIUrl":"https://doi.org/10.22495/CBV15I1ART1","url":null,"abstract":"The major research question, in the title of this paper, was answered positively for stock market performance. The companies with Ethics and Compliance Committees (ECC) outperformed the non-ECC companies on five-year annual averages for both profit margin and net income growth rate, which may mean Wall Street investors are emphasizing non-financial performance indicators, as well as long-term financial performance indicators. Results are somewhat mixed, as investors rewarded ECC companies with superior stock market performance versus other financial measures, like returns on equity and assets, which were better for non-ECC companies. The empirical analysis in this paper relied upon prior research which had conducted content analysis of the 2015 charters of all the board committees of the Fortune top 200 corporations (Holcomb, 2017). This prior research identified 11 companies which had board committees with ethics and compliance duties, versus the Fortune top 20 companies, which delegated such duties to their audit committees. The empirical research in this paper has shown that the Ethics 11 companies outperformed the Fortune top 20 companies over the 2013-2017 period, primarily in the key stock market performance measure of the percentage change of the market capitalization from the end of 2013 until the end of 2017.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"254 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125297728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The moderating role of family ownership on the relationship between ownership concentration and comply-or-explain disclosure: An analysis on Italian listed companies 家族所有权对股权集中度与遵从或解释披露关系的调节作用:意大利上市公司分析

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv15i3art3

F. Alvino, Luigi Lepore, S. Pisano, Gabriella D’Amore

引用次数: 0

Impact of board structure on the performance of rural and community banks in the emerging economy context 新兴经济体背景下董事会结构对农村和社区银行绩效的影响

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I1ART4

Frank Gyimah Sackey, P. Yeboah, J. Owusu

{"title":"Impact of board structure on the performance of rural and community banks in the emerging economy context","authors":"Frank Gyimah Sackey, P. Yeboah, J. Owusu","doi":"10.22495/CBV15I1ART4","DOIUrl":"https://doi.org/10.22495/CBV15I1ART4","url":null,"abstract":"The paper sought to examine the extent to which board structure impacts on the performance of rural and community banks (RCBs) in emerging economies, using the Brong Ahafo Region in Ghana as a case study. A panel data comprising the financial reports from 2010 to 2016 of eleven (11) RCBs were used for the study. The fixed effect modelling was used to examine the extent to which board structure impacts on the performance of the RCBs. Our results show that previous year’s returns on assets and equity as well as the board size and female composition had positive and significant relationships with returns on assets and equity respectively while board diversity had a significant and negative impact on return on equity. The implication for this study is that there is the need to control board size, while board diversification that considers female representations as part of its composition would go a long way to enhancing a firm’s performance. It is recommended that further studies be carried out to determine corporate board structure and its impact on management compensation in the rural and community banks in emerging economies.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114351305","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0