Corporate Board role duties and composition最新文献_第3页

Editorial: Advances in corporate governance practices 社论:公司治理实践的进展

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv17i1editorial

Sabri Boubaker

{"title":"Editorial: Advances in corporate governance practices","authors":"Sabri Boubaker","doi":"10.22495/cbv17i1editorial","DOIUrl":"https://doi.org/10.22495/cbv17i1editorial","url":null,"abstract":"Corporate governance has gone through three decades of profound changes in terms of new regulations, new practices, and environmental conditions. Many countries drafted guidelines for best corporate governance practices following Cadbury report (Cadbury, 1992). These practices were mainly related to the board of directors (composition and functioning), internal controls, and internal audit. The Enron scandal followed by the collapse of Arthur Andersen, one of the big five audit firms, and the enactment of the “Public Company Accounting Reform and Investor Protection Act” (Sarbanes-Oxley law) in 2002 were other milestones in the evolution of corporate governance. This law brought about significant changes related to public company accounting oversight, auditor independence, financial disclosure, and corporate responsibility. The financial crisis in 2008 started in the United States and has shaken the world economy. This crisis was due to weak corporate governance that led to fraudulent financial reporting and excessive risk-taking. Grove and Victoravich (2012) consider CEO duality, lack of board independence, weak management control systems, short-termism, weak codes of ethics, and opaque disclosures among the main drivers of this crisis. The COVID-19 has consistently shown that firms with better corporate governance and corporate social responsibility practices were the most resilient entities during the first quarter of the pandemic (Ramelli & Wagner, 2020). All these topics are addressed in this collection of high-quality research papers of this year’s first issue of Corporate Board: Role, Duties, and Composition.","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":"122109071","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

Editorial note: Theory and practices of the corporate board in the international context 编者按:国际背景下公司董事会的理论与实践

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I2_EDITORIAL

Montserrat Manzaneque-Lizano

引用次数: 0

Greek banking sector in the economic crisis and M&As as a solution 希腊银行业在经济危机中以并购为解决方案

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I2ART4

Michail Pazarskis, George Drogalas, A. Karagiorgos, Efthalia Tabouratzi

{"title":"Greek banking sector in the economic crisis and M&As as a solution","authors":"Michail Pazarskis, George Drogalas, A. Karagiorgos, Efthalia Tabouratzi","doi":"10.22495/CBV15I2ART4","DOIUrl":"https://doi.org/10.22495/CBV15I2ART4","url":null,"abstract":"This study examines the impact of thirteen mergers and acquisitions in the Greek banking sector which took place during the period of economic crisis: 2008-2014. More specifically, the sample of this study consists of all the mergers and acquisitions that led to the four remaining Greek banks (the acquirers of the above-mentioned transactions) which are: National Bank of Greece, Piraeus Bank, Eurobank and Alpha Bank. These specific banks were chosen due to the fact that after the M&As transactions we were able to compare their financial data. This comparison was made by using eight ratios for statistical tests one-year pre- and post-merger. The results of the study indicate statistically significant improvement in three capital structure and viability ratios, as well as a slight improvement on a liquidity ratio, while there is statistically insignificant change or no improvement on the profitability and efficiency ratios. In conclusion, there was some improvement in terms of capital adequacy and loan structure as far as the total capital employed of the merged institutions is concerned, but without improving the profitability of the banks during the economic crisis in Greece.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"261 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":"122761151","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

Training and employee productivity of selected insurance: Perspectives for the board of directors 选定保险公司的培训与员工生产力:董事会视角

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv15i3art2

S. Adebowale, A. Adefulu

{"title":"Training and employee productivity of selected insurance: Perspectives for the board of directors","authors":"S. Adebowale, A. Adefulu","doi":"10.22495/cbv15i3art2","DOIUrl":"https://doi.org/10.22495/cbv15i3art2","url":null,"abstract":"Employees are a vital resource for organisations. Their collective performance could determine productivity, growth and survival of organisations. Globally, employee productivity has become a subject of intense research. Studies in literature reported inconsistent findings of relationship between training and employee productivity. Employee productivity (efficiency, quality of work and timeliness of work) is perceived to be low probably due to inadequate training (on the job training, skill development, resilience and career success) of the employees. This paper, therefore, examined the relationship between training and employee productivity of selected insurance companies in Lagos State, Nigeria. The authors used survey research method. The population of study was 1527 employees in 8 selected insurance companies from which sample of 560 was selected using stratified sampling technique. The paper used questionnaire as research instrument validated through face and contents validity tests with Cronbach’s Alpha reliability coefficients ranged from 0.62 to 0.84 for various constructs used. The authors analysed data using both descriptive and inferential statistics. The study disclosed a moderate positive relationship between training and employee productivity with a correlation coefficient r (501) = 0.542, p < 0.05. Findings of the paper supported Board of directors’ investment decision in personnel development, employees’ skills, and attitude that enhanced productivity. The study concluded that training was essential for employee productivity.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"28 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":"128543208","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

The influence of family board involvement on working capital management 家族董事会参与对营运资金管理的影响

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv17i3art4

Fabio Franzoi

{"title":"The influence of family board involvement on working capital management","authors":"Fabio Franzoi","doi":"10.22495/cbv17i3art4","DOIUrl":"https://doi.org/10.22495/cbv17i3art4","url":null,"abstract":"While research on long-term capital structures of family and non-family firms is well established, differences in current assets- and liabilities-management are largely under-researched. The aim of the study is to examine whether the type and degree of family involvement in the firm affect the efficiency of working capital management. Employing a partially hand-collected panel of 278 listed firms from 2000–2013 this paper analyzes the impact of family shareholders as owners, managers, and supervisors on working capital handling in Germany. The results show that primarily the share of family members in the executive board increases the length of the cash conversion cycle (CCC), particularly in smaller and non-service firms. Most notably, family management increases the inventory period (DIO). The higher average equity ratio of family firms suggests that family firms may face reduced financing pressure to address such inefficiencies in current assets and current liabilities management. Furthermore, family-managed firms may be less professional in their working capital management. The findings contribute to the literature by showing that in a country with a less investor-friendly corporate governance system, family influences on working capital management are primarily due to management presence, not plain shareholder influence. The results stress the need for researchers to consider the degree of family management involvement when analyzing the financial aspects of family firms.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"84 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":"131828976","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

Book review: "Board of directors: A review of practices and empirical research" 书评:《董事会:实践与实证研究回顾》

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv18i1art5

G. Profumo

引用次数: 0

Zero net emissions goals: Challenges for boards 零净排放目标:董事会面临的挑战

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv17i2art5

H. Grove, M. Clouse

{"title":"Zero net emissions goals: Challenges for boards","authors":"H. Grove, M. Clouse","doi":"10.22495/cbv17i2art5","DOIUrl":"https://doi.org/10.22495/cbv17i2art5","url":null,"abstract":"The major research purpose of this paper is to identify the challenges for boards of directors concerning their responsibilities to assess and track their companies’ commitments to zero net emissions goals and performances. A major challenge for boards is to determine whether their companies are sincerely trying to reach zero net emissions or just doing greenwashing, i.e., just making commitments or pledges without any substantial subsequent performance. This literature-search research broadens previous research on companies’ commitments to renewable energy (Grove & Clouse, 2021) to zero net emissions goal commitments and related boards’ monitoring responsibilities, especially to avoid greenwashing. This study also extends previous research on climate change risks and opportunities (Grove, Clouse, & Xu, 2021) to develop and establish board challenges for zero net emissions goals with the following sections: overview of climate risk, current climate lawsuits and board risks, EU climate law, carbon inserts, carbon offsets, carbon credits for agriculture, climate disclosure metrics, global bank greenwashing, and conclusions. The International Organization of Securities Commissions Organization (IOSCO) includes 90% of the public market security regulators in the world and has established a working group that should establish climate disclosure metrics for public companies. Climate disclosure metrics are relevant and needed to help stakeholders, including boards, assess company climate performances, opportunities, and risks.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"26 5 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":"126124773","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

Informal interactions between audit committees and internal audit function. Evidence from Greek listed firms 审计委员会与内部审计部门之间的非正式互动。来自希腊上市公司的证据

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/CBV15I1ART3

George Drogalas, A. Karagiorgos, Michail Pazarskis, N. Vagenas

{"title":"Informal interactions between audit committees and internal audit function. Evidence from Greek listed firms","authors":"George Drogalas, A. Karagiorgos, Michail Pazarskis, N. Vagenas","doi":"10.22495/CBV15I1ART3","DOIUrl":"https://doi.org/10.22495/CBV15I1ART3","url":null,"abstract":"During the last decade, corporate irregularities created an unstable economic environment, which highlighted the importance of internal audit function (IAF) and audit committee (AC) in the context of corporate governance worldwide. However, a small number of researches have dealt with informal interactions between the audit committee and the internal audit function in Greek entities. In this context, this article investigates, on the one hand, the existence of informal interactions between the audit committee and the internal audit function, whereas on the other hand, it emphasizes on the determination of the factors associated with their existence. In particular, an empirical survey was conducted with the distribution of a questionnaire to Greek entities listed on the Athens Stock Exchange and a logistic regression analysis was used to illustrate the information gathered. This study indicates the existence and the factors influencing informal interactions between the audit committee and internal audit function in Greece. More particularly AC independence, AC chair characteristics and CAE characteristics (independent and objective) were found statistically significantly associated with the informal interaction between the two functions.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"45 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":"127928176","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

Board guidance for company climate opportunities 董事会对公司气候机会的指导

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv18i3art4

H. Grove, M. Clouse, Tracy Xu

{"title":"Board guidance for company climate opportunities","authors":"H. Grove, M. Clouse, Tracy Xu","doi":"10.22495/cbv18i3art4","DOIUrl":"https://doi.org/10.22495/cbv18i3art4","url":null,"abstract":"The major research question of this paper is whether net-zero pledges are a dangerous trap for boards of directors’ guidance and monitoring of their companies’ climate activities and opportunities. There is no current consensus on how to do so. Professor Bob Garatt is the Director at Good Governance Development Ltd, a London External Examiner at Gulf Cooperation Council Board Development Institute. He recommended the following research paper as an important and wise caveat that all boards need to consider as an antidote to easy ESG (environmental, social and governance) rhetoric and accounting. Dyke, Watson, and Knorr (2021), in their paper, “Climate Scientists: Concept of Net-Zero is a Dangerous Trap” provide guidance for boards to assess their companies’ climate activities and opportunities. Their research is summarized in two sections of this paper. This paper expands our five prior research papers, which focused upon specific board responsibilities for various aspects of climate impacts on their companies. To avoid this dangerous trap of net-zero pledges, our current paper provides an overall climate perspective for boards, providing guidance for the board of directors’ responsibilities for assessing the role of their companies in climate activities and opportunities. It is critical for boards to develop guidance and actions for monitoring companies’ climate activities and opportunities","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"156 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":"127362339","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

Board interlocks and imitation in corporate acquisitions: A literature review and avenues for future research 公司收购中的董事会连锁与模仿:文献综述及未来研究方向

Corporate Board role duties and composition Pub Date : 1900-01-01 DOI: 10.22495/cbv17i3art2

Ilaria Galavotti

{"title":"Board interlocks and imitation in corporate acquisitions: A literature review and avenues for future research","authors":"Ilaria Galavotti","doi":"10.22495/cbv17i3art2","DOIUrl":"https://doi.org/10.22495/cbv17i3art2","url":null,"abstract":"Interlocking directorates create the conditions for social embeddedness and represent a key driver of the diffusion of strategies and practices (Okhmatovskiy & David, 2012). Among the multiple focuses of analysis, board interlocks have been regarded as a source of inter-organizational imitation in the context of corporate acquisitions (Xia, Ma, Tong, & Li, 2018; de Sousa Barros, Cárdenas, & Mendes-Da-Silva, 2021). Imitation indeed has been acknowledged as one of the primary implications of interlocking directorates (Shropshire, 2010). This study, therefore, offers an in-depth summary and discussion of how interlocks of business elites influence corporate acquisitions. Multiple contributions are provided. First, the paper develops a thematic analysis in which multiple research focuses are identified, namely acquisition activity and emphasis, acquisition timing in mergers and acquisitions (M&A) waves, acquisition process, and acquisition premium. Second, it elaborates on a number of potential avenues for future research. Specifically, it identifies three main lines of inquiry related to the imitation scope, performance at both firm- and industry-level, and potential theoretical cross-fertilizations. Moreover, methodological considerations are discussed especially in terms of operationalization choices and their implications. To the best of the author’s knowledge, this paper represents the first attempt to review the literature on the interlocks-acquisition field.","PeriodicalId":238287,"journal":{"name":"Corporate Board role duties and composition","volume":"517 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":"133432117","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