Corporate Governance: International/Non-US eJournal最新文献

New Japan’s Corporate Governance Code and its Scrutiny from the Perspective of 'Sustainable Growth of the Company and Improvement of Medium-to Long-Term Corporate Value' (Presentation Slides) 从“公司可持续发展与中长期价值提升”的视角审视新日本公司治理准则(幻灯片)

Corporate Governance: International/Non-US eJournal Pub Date : 2021-05-27 DOI: 10.2139/ssrn.3856185

Hiroyuki Watanabe

引用次数: 1

Cross-Border Mergers: What does Market reaction tell us about Post-Merger Performance? 跨国并购:市场反应告诉我们并购后的表现是什么?

Corporate Governance: International/Non-US eJournal Pub Date : 2021-03-01 DOI: 10.2139/ssrn.3804781

C. Krishnan, Jialun Wu

引用次数: 0

Country‐, Firm‐ and Director‐level Risk and Responsibilities and Independent Director Compensation 国家、公司和董事层面的风险和责任以及独立董事薪酬

Corporate Governance: International/Non-US eJournal Pub Date : 2020-12-20 DOI: 10.1111/corg.12357

A. Melis, Luigi Rombi

{"title":"Country‐, Firm‐ and Director‐level Risk and Responsibilities and Independent Director Compensation","authors":"A. Melis, Luigi Rombi","doi":"10.1111/corg.12357","DOIUrl":"https://doi.org/10.1111/corg.12357","url":null,"abstract":"Research Question This study investigates how and to what extent country‐level institutional characteristics, firm‐ and independent director‐level risk and responsibilities are related to independent director compensation, in terms of amount and design. Research findings/Insights Using an international sample of 5,220 independent directors on 727 non‐financial listed firms in 16 countries, this study revealed that both country‐level institutional characteristics and firm‐ and director‐level agency account for the variation of independent director compensation amount. Firm‐level ESG‐related reputational risk and director‐level observable responsibilities on the board are strongly related to independent director compensation amount. These agency relationships vary in the different institutional settings. Country‐level director liability substitutes for firm‐level and director‐level monitoring. Firms conform to institutional pressures for independent director compensation design. Institutional embeddedness comes from the firm’s primary institutional environment and its exposure to foreign financial markets. Theoretical/Academic implications This study develops a multilevel theory of the antecedents of independent director compensation. Firm‐ and director‐level agency issues are nested in, and interact with, the institutional context in which the agency relationship between shareholders and independent directors is embedded. Practitioner/Policy Implications This study helps practitioners to understand how director liability regulations, a firm’s ESG‐related reputational risk and the specific responsibilities on the board are related to independent director compensation. It helps firms explain to shareholders (and stakeholders) how independent director compensation is determined. Firms should consider that the consequences of their ESG practices extend beyond direct costs. Policymakers can find our results useful when regulating on director liability and developing best practices. ","PeriodicalId":343950,"journal":{"name":"Corporate Governance: International/Non-US eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127928287","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

Decoding the Distribution of House Price & Income Mix Ratio (HPIMR) to Calculate the Proportionate Investments required for Housing Demand based on Affordability in India at the Country Level 解码房价和收入混合比(HPIMR)的分布，以计算基于印度国家层面负担能力的住房需求所需的比例投资

Corporate Governance: International/Non-US eJournal Pub Date : 2020-11-15 DOI: 10.2139/ssrn.3731007

C. SenGupta

引用次数: 0

Alibaba: A Case Study of Synthetic Control 阿里巴巴:综合控制的案例研究

Corporate Governance: International/Non-US eJournal Pub Date : 2020-07-22 DOI: 10.2139/ssrn.3644019

J. Fried, Ehud Kamar

引用次数: 3

A Narrow Escape? Malthusian Pressures in the Late Imperial Moscow 死里逃生?马尔萨斯在莫斯科帝国晚期的压力

Corporate Governance: International/Non-US eJournal Pub Date : 2020-07-15 DOI: 10.2139/ssrn.3652486

E. Khaustova, Vadim Kufenko, Vincent J. Geloso

引用次数: 0

What Does Japanese Corporate Governance Reform Mean? 日本公司治理改革意味着什么?

Corporate Governance: International/Non-US eJournal Pub Date : 2020-04-01 DOI: 10.2139/ssrn.3572513

Hiroyasu Omura

{"title":"What Does Japanese Corporate Governance Reform Mean?","authors":"Hiroyasu Omura","doi":"10.2139/ssrn.3572513","DOIUrl":"https://doi.org/10.2139/ssrn.3572513","url":null,"abstract":"In Japan, since 2013, Japanese corporate governance reform has been developed by Japanese Government initiatives. This paper provides a theoretical framework for understanding what Japanese corporate governance reform means for Japanese companies by an application of agency theory. Corporate governance is a structure which determines how shareholders delegate corporate control to managers and monitor managers’ business executions. Debates on corporate governance finally end in how we should resolve agency problems which decide what is the best measures to maximize corporate value by reducing agency costs deriving from an agency relationship between shareholders and managers. New Japanese reform further develops previously introduced measures for improving corporate governance in order to reduce agency costs. Now some changes in corporate financial results are recognized in stewardship reports by institutional investors. This reform is facilitated by an introduction of Japanese Stewardship Code and leveraged by a collaboration between Corporate Governance Code and Japanese Stewardship Code to seek a long-term corporate growth. Key to success to a corporate governance reform is a synchronized collaboration between these two codes, which puts burdens of execution on institutional investors who take stewardship activities effectuating a governance reform. Agency theory focused on principal costs provides us with interpretation of the reform and implication of possible changes in corporate governance and their solutions. One possible hint for solutions is disclosure of stewardship activities including engagement activities by institutional investors.","PeriodicalId":343950,"journal":{"name":"Corporate Governance: International/Non-US eJournal","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131456662","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

Corporate Governance and Climate Change Risk Management: A Case Study of Transport Industry in Hong Kong 企业管治与气候变化风险管理:以香港运输业为例

Corporate Governance: International/Non-US eJournal Pub Date : 2019-12-19 DOI: 10.2139/ssrn.3506543

C. Ko, Regina, H.M. Tai

{"title":"Corporate Governance and Climate Change Risk Management: A Case Study of Transport Industry in Hong Kong","authors":"C. Ko, Regina, H.M. Tai","doi":"10.2139/ssrn.3506543","DOIUrl":"https://doi.org/10.2139/ssrn.3506543","url":null,"abstract":"This paper examines corporate governance and Climate Change risk management of transport industry in Hong Kong. This exploratory case study aims to investigate how the board of directors of an organization in the transport sector is addressing Climate Change risks through governance practices. Climate Change results from continued changes in climate pattern and the increase in frequency and intensity of extreme weather, and accordingly, every organization, especially the transportation company, is affected by the potential negative impacts caused by Climate Change, i.e. climate-related risks. We examine, to what extent, corporate governance plays a significant role in addressing climate-related risks. To answer this question, we reviewed several literature streams regarding the inter-relationship between climate-related risks, governance structure, board of directors and management. We also reviewed the literature on corporate governance and related theories, and regulatory policy in Hong Kong. Based on the interdisciplinary literature review, we developed a conceptual framework of our study and then we formulate the methodology. We selected 2 largest corporations, one from aviation and another one from railway, listed in Hong Kong Stock Exchange based on the criteria set by TCFD recommendations to conduct the study through two stages: secondary sourced data from annual report, sustainability report and website of the companies and primary sourced data through interview of sustainability manager. The research results suggest that governance structure and availability of resources have significant influence on the management of climate-related risks; however, external factors such as stakeholders show relatively less significant effects in influencing on the company’s policy on Climate Change. This study contributes to corporate governance and related theories in risks assessment on Climate Change and provides a picture of updated trend, phenomenon and framework in addressing climate-related risks for all stakeholders in Hong Kong.","PeriodicalId":343950,"journal":{"name":"Corporate Governance: International/Non-US eJournal","volume":"166 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123296431","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

Does Good Corporate Governance Pay Off in the Long Run? Evidence From Stock Market Segment Switches in Brazil 从长远来看，良好的公司治理会带来回报吗?巴西股市板块变化的证据

Corporate Governance: International/Non-US eJournal Pub Date : 2019-09-01 DOI: 10.2139/ssrn.3243023

Luiz Moura, Lars Norden

引用次数: 2

Auditor Competencies, Organizational Learning, and Audit Quality: Spillover Effects of Auditing Cross-Listed Clients 审计师胜任力、组织学习与审计质量:审计交叉上市客户的溢出效应

Corporate Governance: International/Non-US eJournal Pub Date : 2019-07-31 DOI: 10.2139/ssrn.3620533

Wei Luo, Yanhong Luo, Zhiming Ma, Rencheng Wang

引用次数: 0