Indian Journal of Corporate Governance最新文献_第8页

Corporate Governance and Firm’s Profitability: An Emerging Economy-based Investigation 公司治理与公司盈利能力:基于新兴经济体的研究

Indian Journal of Corporate Governance Pub Date : 2019-06-28 DOI: 10.1177/0974686219836544

Mohammad Rajon Meah, Nasir Uddin Chaudhory

引用次数: 16

Earnings Management and Performance of IPO Firms: Evidence from India IPO公司的盈余管理与绩效——来自印度的证据

Indian Journal of Corporate Governance Pub Date : 2019-06-28 DOI: 10.1177/0974686219836542

Deepa Mangala, Mamta Dhanda

{"title":"Earnings Management and Performance of IPO Firms: Evidence from India","authors":"Deepa Mangala, Mamta Dhanda","doi":"10.1177/0974686219836542","DOIUrl":"https://doi.org/10.1177/0974686219836542","url":null,"abstract":"Abstract Disclosure through corporate annual reports is intended to enhance transparency and reduce information asymmetry during public issues. Ritter (1991) revealed that there is something fishy in the financial reports of the companies coming out with public issues. Earnings management has been recognised as a foremost contributor to such misleading financial reports. The short term overperformance of initial public offerings (IPO) of companies increases the expectations of potential investors and leads to a subsequent decline of performance in long run leaving the investors in distraught. The observed phenomenon is omnipresent and thus affects the investors across the globe. The present article empirically investigates the presence of earnings management in IPOs in India. The study is based on Modified Jones Model, the best known model to measure accruals earnings management. Preliminary results exhibit that earnings management in Indian IPOs is much higher than in developed countries. The study further discovers that the earnings performance of IPO companies is abnormally higher in IPO year as compared with post-offer period. Both the results taken together reinforce that post-issue earnings performance is a derivation of issue year earnings management in India.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"12 1","pages":"39 - 58"},"PeriodicalIF":0.0,"publicationDate":"2019-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686219836542","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46658481","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: 17

Corporate Governance Practices in Listed State-owned Enterprises in India: An Empirical Research 印度国有上市企业公司治理实践的实证研究

Indian Journal of Corporate Governance Pub Date : 2019-06-28 DOI: 10.1177/0974686219849760

J. Kiranmai, R. Mishra

{"title":"Corporate Governance Practices in Listed State-owned Enterprises in India: An Empirical Research","authors":"J. Kiranmai, R. Mishra","doi":"10.1177/0974686219849760","DOIUrl":"https://doi.org/10.1177/0974686219849760","url":null,"abstract":"Abstract Corporate Governance (CG) refers to a system in which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation and specifies the rules and procedures for making decisions in corporates. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests among the stakeholders. CG is an umbrella term. In its narrower sense, it describes the formal system of accountability of corporate directors to the owners of companies. In its broader sense, the concept includes the entire network of formal and informal relationships involving the corporate sector and the consequences of these relationships on society in general. The center objective of the paper is to create linkages between firm performance and governance practice in the listed SOEs in India. The present paper makes an attempt to compare the various CG variables of the listed SOEs for a period of five years ie 2012-13 to 2016-17. A detailed analysis of the 42 listed State Owned Enterprises (SOEs) in terms of board size, board meetings, board committees, board composition, independent directors, firm age, gender diversity has been compared. Finally conclusions are drawn from empirical analysis.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"12 1","pages":"121 - 94"},"PeriodicalIF":0.0,"publicationDate":"2019-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686219849760","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48538544","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: 9

Effect of Composition of Board and Promoter Group Retained Ownership on Underpricing of Indian IPO firms: An Empirical Study 董事会和发起人群体保留所有权对印度IPO公司定价偏低的影响：实证研究

Indian Journal of Corporate Governance Pub Date : 2019-06-28 DOI: 10.1177/0974686219836539

Ramit Anand, Balwinder Singh

{"title":"Effect of Composition of Board and Promoter Group Retained Ownership on Underpricing of Indian IPO firms: An Empirical Study","authors":"Ramit Anand, Balwinder Singh","doi":"10.1177/0974686219836539","DOIUrl":"https://doi.org/10.1177/0974686219836539","url":null,"abstract":"Abstract The present empirical investigation is an addition to the existing extant literature available on the issue of initial public offering (IPO) which sees its inherent anomaly of underpricing by linking it to some of under-researched dimensions of corporate governance in the emerging economy of India. This study incorporates about 443 Indian IPO firms with their board composition and ownership retained by promoter group post IPO being primary variables of focus which are obtained from respective prospectuses of such firms. Like many previous studies, this study also keeps signalling theory as base, and findings show that only interlocking of directors among all the board variables has a significant and negative relation with underpricing. Significant relation of ownership concentration in hands of promoter group with underpricing shows that it is considered as a signal by investors assisting them in gauging safety of their minority interests. Findings show that too high insiders’ ownership alignment of interest between promoters and minority holders turn into risk of entrenchment by initial investors, that is, promoters as perceived by investors.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"12 1","pages":"21 - 38"},"PeriodicalIF":0.0,"publicationDate":"2019-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686219836539","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44518478","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: 6

Diffusion of the Ethical Philosophy of Good Governance at the National Oil Company of South Africa 善治伦理哲学在南非国家石油公司的传播

Indian Journal of Corporate Governance Pub Date : 2019-06-28 DOI: 10.1177/0974686219836543

Rene W. Albertus

{"title":"Diffusion of the Ethical Philosophy of Good Governance at the National Oil Company of South Africa","authors":"Rene W. Albertus","doi":"10.1177/0974686219836543","DOIUrl":"https://doi.org/10.1177/0974686219836543","url":null,"abstract":"Abstract This article seeks to examine challenges affecting the ethical philosophy of senior management at South Africa’s national oil and gas company. South Africa’s economy has been downgraded to junk status due to mismanagement of public funds in public enterprises. Government parastatals have come under major scrutiny in recent years for transgressing the code of good conduct prescribed by the King Report. The article presents a conceptual exploration of corporate governance challenges and is underpinned by diffusion of responsibility and moral hypocrisy which has roots in social psychology. Social psychology can be used as an overlap for strategy and institutional concepts, which encourages new ways of addressing corporate responsibility. The research reveals the impact on state enterprises financial stability when senior management diffuses responsibility and is not prosecuted or held accountable under the constitutional Act 108 of 1996. The article highlights one of the many corporate responsibility transgressions by state-owned enterprises who should be responsible for building the economy rather than destroying public value.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"12 1","pages":"59 - 70"},"PeriodicalIF":0.0,"publicationDate":"2019-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686219836543","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44278517","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

Does Sustainability Reporting Enhance Firms Profitability? A Study on Select Companies from India and South Korea 可持续发展报告能提高企业的盈利能力吗?对印度和韩国部分公司的研究

Indian Journal of Corporate Governance Pub Date : 2019-06-28 DOI: 10.1177/0974686219836528

Najul Laskar

引用次数: 19

Valediction 告别辞

Indian Journal of Corporate Governance Pub Date : 2018-12-01 DOI: 10.1177/0974686218806725

Shital Jhunjhunwala

引用次数: 0

Financial Audit or Forensic Audit? Government Sector Panorama 财务审计还是法证审计?政府部门全景图

Indian Journal of Corporate Governance Pub Date : 2018-11-18 DOI: 10.1177/0974686218806724

R. Deb

引用次数: 3

Corporate Governance, Corporate Entrepreneurship and Firm Performance: Evidence from the Rwandese Manufacturing Industry 公司治理、公司企业家精神和公司绩效:来自卢旺达制造业的证据

Indian Journal of Corporate Governance Pub Date : 2018-11-14 DOI: 10.1177/0974686218806715

Etienne Ndemezo, Charles Kayitana

{"title":"Corporate Governance, Corporate Entrepreneurship and Firm Performance: Evidence from the Rwandese Manufacturing Industry","authors":"Etienne Ndemezo, Charles Kayitana","doi":"10.1177/0974686218806715","DOIUrl":"https://doi.org/10.1177/0974686218806715","url":null,"abstract":"Abstract This study aims to determine effects of corporate governance on corporate entrepreneurship of Rwandese manufacturing firms, and to evaluate effects of corporate governance on performance of Rwandese manufacturing firms. We used two complementary methodological approaches: one which links corporate governance to corporate entrepreneurship; another which uses an augmented Cobb–Douglass production function to associate corporate governance with the firm performance. This study resulted in four main outcomes: first, the background—education and experience—and motivation of top managers contribute significantly to both corporate entrepreneurship and corporate performance; second, the sole proprietorship organisational form harms significantly the firms’ entrepreneurial activities and impacts negatively their financial performance; third, electricity and raw materials expenses are positively and significantly related to financial performance of manufacturing firms; and fourth, even if informal competition has no effect on entrepreneurial activity of manufacturing firms, it harms their financial performance.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"11 1","pages":"103 - 121"},"PeriodicalIF":0.0,"publicationDate":"2018-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686218806715","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43674223","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: 8

CEOs’ Characteristics and Firm Performance: A Study of Indian Firms CEO特征与企业绩效——印度企业研究

Indian Journal of Corporate Governance Pub Date : 2018-11-14 DOI: 10.1177/0974686218806714

Rupinder Kaur, Balwinder Singh

{"title":"CEOs’ Characteristics and Firm Performance: A Study of Indian Firms","authors":"Rupinder Kaur, Balwinder Singh","doi":"10.1177/0974686218806714","DOIUrl":"https://doi.org/10.1177/0974686218806714","url":null,"abstract":"Abstract The centre of interest of this research article is the association between chief executive officer (CEO) characteristics and firm performance. Employing a sample of Nifty 500 firms, the support found recommends that demographic and job-related characteristics may be related with the firm’s financial performance. We consider CEO gender, duality, nationality, remuneration and education level as CEO characteristics and we employ return on assets (ROA) as a representative for firm performance. This study widens the understanding of the important function played by the CEO and provides better insight into CEO-specific variables. Specifically, the reported findings specify a positive relationship between CEO remuneration and firm performance, thus indicating that compensation acts as a good inducement for executives to yield finer firm performance while CEO nationality appears to inhibit it, steering foreign directors to a minority spot. This implies that remuneration should be more thoughtfully attached to performance, so that proficient CEOs are not lured by more tempted compensation elsewhere and the decision to engage foreign nationals to company boards must be based on norms other than the firm’s future financial performance.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"11 1","pages":"185 - 200"},"PeriodicalIF":0.0,"publicationDate":"2018-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686218806714","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46353640","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: 30