CGA: International Aspects of Corporate Governance (Topic)最新文献

{"title":"The Korean Model of Corporate Governance: Issues and Lessons in Reform of Bank Governance","authors":"Joon-Ho Hahm","doi":"10.2139/ssrn.799644","DOIUrl":"https://doi.org/10.2139/ssrn.799644","url":null,"abstract":"Recent financial crises in emerging market countries highlighted the importance of a robust and efficient banking system in pursuing sustainable economic growth. Korea's economic crisis also resulted from the failure of the banking system in performing its genuine role of financial intermediation. Over the last six years since the 1997-98 financial crisis, remarkable progress has been made in reconstructing Korea's outmoded banking system. This article first takes on a historical approach in tracing the development of the banking institutions in Korea since the 1960s. Then, it focuses on the corporate governance reform efforts of Korean commercial banks through a case study of Woori Bank - the largest government-intervened commercial bank in Korea. Overall, the reform efforts at Woori Bank have been impressive, resulting in a strengthened governance structure, a better defined set of duties and responsibilities for the bank CEO and the board, an upgraded internal control system, and an enhanced risk management and corporate monitoring. Yet, further reform agendum need to be scrutinized.","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114351874","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}

{"title":"Determinants of Voluntary Disclosure of Financial Information On the Internet by Brazilian Firms","authors":"Wesley Mendes-da-Silva, Theodore E. Christensen","doi":"10.2139/ssrn.638082","DOIUrl":"https://doi.org/10.2139/ssrn.638082","url":null,"abstract":"Disclosure transparency is one of the pillars of good corporate governance. Moreover, the digital age has produced a dramatic shift in the corporate communication paradigm. As a result, companies increasingly use the Internet as an investor relations medium and a vehicle to disseminate financial information to capital markets. This paper examines the determinants of voluntary disclosure of financial information on the Internet by Brazilian firms. Cross-sectional analyses based on 291 non-financial companies listed on the Sao Paulo Stock Exchange in 2002 suggest that firm size and lower annual stock returns are associated with higher levels of voluntary financial information disclosure on corporate websites. These results are consistent with the notion that Brazilian firms (1) under public scrutiny or (2) that are performing poorly are more likely to disclose financial information on corporate websites.","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125571707","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}

{"title":"Rebuilding Public Confidence in Financial Reporting","authors":"J. Crow, Christian Aubin, Olivia F. Kirtley, Kosuke Nakahira, I. Ramsay, Guylaine Saucier, G. Ward","doi":"10.2139/SSRN.556291","DOIUrl":"https://doi.org/10.2139/SSRN.556291","url":null,"abstract":"The Task Force on Rebuilding Public Confidence in Financial Reporting was commissioned by the International Federation of Accountants (IFAC) to look at ways of restoring the credibility of financial reporting and corporate disclosure from an international perspective. It is this international perspective that distinguishes the report from the many national reviews on similar topics. The Task Force was asked to: (a) identify and analyze the causes of the loss of credibility; (b) consider alternative courses of action which might restore credibility; and (c) consider recommendations as to best practice in the areas of financial and business reporting, corporate governance and auditor performance. The report details the Task Force's findings and recommendations in each of these areas. The members of the Task Force brought to its deliberations extensive experience from a wide range of professional backgrounds. They come from six countries: Australia, Canada, France, Japan, the United Kingdom, and the United States. Three members have experience as accounting professionals, although only one is currently an auditor; the other members have experience in central and commercial banking, international economics, academia, and law. Five of the Task Force members currently serve on the boards and audit committees of listed companies.","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121029786","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}

{"title":"Corporate Governance in Thailand","authors":"P. Limpaphayom, J. Connelly","doi":"10.2139/SSRN.965300","DOIUrl":"https://doi.org/10.2139/SSRN.965300","url":null,"abstract":"This paper is one four corporate governance country reports, part of a 2003 Asia Development Bank Institute (ADBI) project entitled Review of Corporate Governance in Crisis-Hit Asia. The country papers, covering Indonesia, Republic of Korea, Thailand, and Malaysia, are based on the examination of relevant regulatory frameworks as well as a firm-level questionnaire survey conducted in each country. The following issues are addressed: review of recent regulatory reform on corporate governance; shareholders' role in corporate governance and major constraints; effectiveness of the boards of directors; role of other stakeholders in corporate governance especially banks and employees; and an analysis of the relationship between corporate governance quality and firm performance.","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116947967","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}

{"title":"Corporate Governance and Accounting Standards in India: An Empirical Study on Practices","authors":"Dr K Shankaraiah, D. N. Rao","doi":"10.2139/SSRN.501242","DOIUrl":"https://doi.org/10.2139/SSRN.501242","url":null,"abstract":"The good Corporate Governance ensures the better corporate performance and better relationship with stakeholders, where the proper practice of accounting standards assumes a lot of importance as it leads to the effective disclosure thus, good Corporate Governance. Hence, the practice of proper accounting standards is more relevant issue of good Corporate Governance. In India, the infancy stage of accounting standards gives more scope for the personal discretion, hence, the disclosure is ineffective. In view of the liberalization and globalization of the Indian economy, the formulation, development and practice of the proper accounting standards and reduction of the gap between Indian and International Accounting Standards are very much needed to ensure a good Corporate Governance.","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124296499","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}

{"title":"The Cadbury Committee Recommendations on Corporate Governance - a Review of Compliance and Performance Impacts","authors":"E. Dedman","doi":"10.1111/1468-2370.00091","DOIUrl":"https://doi.org/10.1111/1468-2370.00091","url":null,"abstract":"In December 1992, the Cadbury Committee published their Code of Best Practice. The recommendations, which largely reflected perceived best practice at the time, included separating the roles of CEO and chairman, having a minimum of three non-executive directors on the board and the formulation of audit committees. The Code also advocated that a more active role be taken by institutional investors in the promotion of good practice in corporate governance. This paper discusses how agency problems may be (partially) resolved by corporate governance, reviews the evidence on compliance with the Cadbury Code and examines the relationship between board structure and firm performance, looking for evidence that the Code has enhanced board performance. While there is no empirical evidence of an association between board structure and firm value, there is some evidence that compliance with the Cadbury recommendations enhances board oversight with respect to the manipulation of accounting numbers and the discipline of the top executive.","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133696028","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}

{"title":"The Purposes and Accountability of the Corporation in Contemporary Society: Corporate Governance at a Crossroads","authors":"Michael Bradley, Cindy A. Schipani, A. K. Sundaram, J. Walsh","doi":"10.2139/SSRN.220570","DOIUrl":"https://doi.org/10.2139/SSRN.220570","url":null,"abstract":"This Article begins by identifying five forces of change that have profound implications for corporate governance in contemporary society. These forces involve changes in the nature of work, capital markets, product markets, organizational forms, and the corporate regulatory environment. It then examines the implications of these changes for corporate governance. It reviews the empirical literature in finance and strategy and concludes that much of this literature is cross-sectional in nature, and therefore is incapable of predicting the consequences of these changes. The Article discusses the prominent paradigms that are found throughout corporate governance scholarship. Stripped of their complexities, most of the literature centers around a debate between two opposing views of the corporation: contractarianism and communitarianism. The Article describes these two views of the public corporation, examines how each addresses the impact of the five forces of change that we have identified, and critiques the limitations of each view. The Article concludes that, in a world of rapid change, the contractarian view provides the better perspective for public policy toward the large-scale, public corporation. While there are important limitations of the contractarian view (for example, third-party effects and problems deriving from ill-defined property rights), on balance, the ability of individuals to engage freely in mutually beneficial contracting is the most efficient way of adapting to these governance challenges. The Article also revisits the debate surrounding the American Law Institute's Corporate Governance Project. While the Project addresses issues that might be interpreted as affirming the communitarian perspective, it clearly asserts the primacy of shareholder wealth-maximization, a fundamental tenet of the contractarian perspective. The Article examines in detail the governance structures in Japan and Germany--structures that are quite communitarian compared to the relatively contractarian U.S. structure--to determine whether these alternative governance systems provide any better blueprints for adapting to change. The Article concludes that the communitarian perspectives adopted by these countries impede the ability to adapt to change. Further, the Article provides evidence that global corporations in these countries are inexorably patterning their governance practices and styles along Anglo-American, or more precisely, U.S. lines. The argument that the world is inexorably evolving along the lines of the contractarian model is an important and unique conclusion of this Article. Most who have written on the subject to date have concluded that there is no \"optimal\" governance structure and that both the Japanese and German systems are efficient, self-sustaining forms as well. The authors disagree. There is sufficient theory and evidence to support the assertion that public corporations around the world are moving toward a more contractarian,","PeriodicalId":267297,"journal":{"name":"CGA: International Aspects of Corporate Governance (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130657144","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}