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Author: Bruno Buchetti
Publisher: Springer Nature
ISBN: 3030562395
Category : Business & Economics
Languages : en
Pages : 146
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Book Description
This book expands on the literature on the characteristics of management boards by especially focusing on family-listed and family-controlled companies, as they are ideal for studying board heterogeneity. It uses specific multidimensional indices and in-depth econometric analysis to introduce new variables, such as international experience, that represent a source of competitive advantage for firms in today’s globalized world. In addition, by examining the heterogeneity ratio and the representation of independent and family directors, the book demonstrates how family-controlled firms use independent directors to import their heterogeneous expertise. The book makes a threefold contribution: for regulators, it offers suggestions on improving the quality of reporting in family-controlled firms; for researchers, it demonstrates the importance of including directors’ characteristics apart from the firm-specific factors in their analyses; and for practitioners, it shows that selecting directors with specific characteristics can have a substantial impact on firms’ performance.
Author: Bruno Buchetti
Publisher: Springer Nature
ISBN: 3030562395
Category : Business & Economics
Languages : en
Pages : 146
Get Book Here
Book Description
This book expands on the literature on the characteristics of management boards by especially focusing on family-listed and family-controlled companies, as they are ideal for studying board heterogeneity. It uses specific multidimensional indices and in-depth econometric analysis to introduce new variables, such as international experience, that represent a source of competitive advantage for firms in today’s globalized world. In addition, by examining the heterogeneity ratio and the representation of independent and family directors, the book demonstrates how family-controlled firms use independent directors to import their heterogeneous expertise. The book makes a threefold contribution: for regulators, it offers suggestions on improving the quality of reporting in family-controlled firms; for researchers, it demonstrates the importance of including directors’ characteristics apart from the firm-specific factors in their analyses; and for practitioners, it shows that selecting directors with specific characteristics can have a substantial impact on firms’ performance.
Author: Bruno Buchetti
Publisher:
ISBN: 9783030562403
Category :
Languages : en
Pages : 0
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Book Description
This book expands on the literature on the characteristics of management boards by especially focusing on family-listed and family-controlled companies, as they are ideal for studying board heterogeneity. It uses specific multidimensional indices and in-depth econometric analysis to introduce new variables, such as international experience, that represent a source of competitive advantage for firms in today's globalized world. In addition, by examining the heterogeneity ratio and the representation of independent and family directors, the book demonstrates how family-controlled firms use independent directors to import their heterogeneous expertise. The book makes a threefold contribution: for regulators, it offers suggestions on improving the quality of reporting in family-controlled firms; for researchers, it demonstrates the importance of including directors' characteristics apart from the firm-specific factors in their analyses; and for practitioners, it shows that selecting directors with specific characteristics can have a substantial impact on firms' performance. .
Author: Randall K. Morck
Publisher: University of Chicago Press
ISBN: 0226536831
Category : Business & Economics
Languages : en
Pages : 700
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Book Description
For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.
Author: Klaus Gugler
Publisher: Oxford University Press, USA
ISBN: 9780199245703
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
This text presents evidence about corporate governance and performance in a large number of countries. It is the result of a collective research effort by the members of the European Corporate Governance Network (ECGN).
Author: Hamizah Hassan
Publisher: Nova Science Publishers
ISBN: 9781536126273
Category : Corporate governance
Languages : en
Pages : 0
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Book Description
Important corporate governance mechanisms such as ownership concentration and debt used by the large firms can affect firm performance and value in developed markets. The mixed findings which are non-conclusive in the literature pertaining to these relationships pose questions about the exact nature of the relationships between these mechanisms and firm value. Moreover, the mixed findings in the literature have resulted in the endogeneity issue of the former becoming central to discussions in corporate governance and corporate finance studies. The research in this book focuses on the dynamic endogeneity issue to investigate whether this issue influences the relationship between corporate governance mechanisms and firm value in the largest Australian firms based on agency theory. The study investigates this issue through three different advanced econometric models and tests based on agency theory: two-way fixed effects (FE) and the two-step system known as the generalised method of moments (GMM). The book concludes that dynamic endogeneity is not a serious issue in influencing the relationship between corporate governance mechanisms and firm value in the largest Australian firms. These models can be applied to other countries for investigating similar corporate governance and finance issues.
Author: Thomas Clarke
Publisher: Routledge
ISBN: 1134350880
Category : Business & Economics
Languages : en
Pages : 541
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Book Description
Comprehensive and up-to-date, this important textbook analyzes the escalating crisis in corporate governance and the growing interest in its reform across the globe. Written by a leading name in the field of corporate governance from a genuinely international perspective, this excellent textbook provides a balanced analysis of the relative strengths and weaknesses of the Anglo-Saxon, European and Asian traditions of corporate governance; offering a prognosis of the future development, complexity and diversity of corporate governance forms and systems. It: investigates the reasons for the failure of Enron, WorldCom, Tyco, Parmalat and other major international corporations examines the role of international standards of corporate governance, with the intervention of the OECD, World Bank and IMF explores the continuing cultural diversity in corporate and institutional forms in the United States and UK, Europe and Asia Pacific. Illustrated with a wealth of up-to-the minute case studies and packed full of excellent illustrative material that guides student readers through this complex subject, International Corporate Governance is a must read for anyone studying corporate governance today.
Author: Morten Huse
Publisher: Cambridge University Press
ISBN: 1139463829
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
What is the role of boards in corporate governance? How should they be structured in order to maximize value creation? This 2007 book looks at the role of boards in a variety of different countries and contexts, from small and medium-sized enterprises to large corporations. It explores the working style of boards and how they can best achieve their task expectations. Board effectiveness and value creation are shown to be the results of interactions between owners, managers, board members and other actors. Board behaviour is thus seen to be a result of strategizing, norms, board leadership, and the decision-making culture within the boardroom. Combining value creation, behavioural and ethical approaches to the study of boards, this work offers a systematic framework which will be of value to graduate students and researchers in the field of corporate social responsibility and business ethics.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264179542
Category :
Languages : en
Pages : 91
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Book Description
This publication examines the role of corporate governance arrangements in providing right incentives to contribute the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks.
Author: Sebastian Schilling
Publisher: diplom.de
ISBN: 3832468552
Category : Business & Economics
Languages : en
Pages : 121
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Book Description
Inhaltsangabe:Abstract: This thesis provides evidence that companies showing stronger corporate governance performance are on average also valued higher in terms of Tobin s q. This evidence is found using a dataset of 242 of Europe s largest corporations listed in the FTSE Eurotop 300 index. For each of these corporations, a dataset of over 300 corporate governance rating variables is analysed to establish a detailed overview of a firm s corporate governance performance. These 300 rating variables result out of a corporate governance standard established by an independent rating agency in cooperation with the largest European institutional investors and in reference to the respective national corporate governance codes of the companies in the sample. The final regression model containing independent score components for Corporate Governance performance and financial performance proxied by ROA represents an R square adjusted of 42 per cent, thereby making the model and the inherent coefficients highly representative. The coefficient of the corporate governance score component suggests that, ceteris paribus, a one point increase in the value of the score component leads on average to a 0.3 point increase in Tobin s q. The statistical findings are tested in depth for their practical validity in the subsequent Interview with the DWS Investment Group. Inhaltsverzeichnis:Table of Contents: Abstractiii 1.Introduction1 2.An Introduction to Corporate Governance6 2.1The Agency Problem6 2.1.1Transaction Conditions8 2.1.2Incentive Mechanisms10 2.1.3Economic Importance11 2.1.4Intermediate Conclusion12 2.2The Stakeholder Impact on Corporate Governance12 2.2.1Corporate Governance, contractual governance, and work governance13 2.3Culture, ownership concentration and law15 2.4Corporate Governance: A Definition18 3.The Corporate Governance Rating Framework20 3.1Rights and Duties of Shareholders20 3.1.1Academic Review21 3.1.2Key Criteria and Best Practice Recommendations21 3.1.3Code Review24 3.2Range of Takeover Defenses24 3.2.1Academic Review24 3.2.2Key Criteria and Best Practice Recommendations25 3.2.3Codes26 3.3Disclosure on Corporate Governance27 3.3.1Academic Review27 3.3.2Key Criteria and Best Practice Recommendations28 3.3.3Code Review30 3.4Board Structure and Functioning31 3.5Conclusion36 4.Statistical Analysis38 4.1Data39 4.1.1Corporate Governance Rating Data39 4.1.2Financial Data39 4.1.3Analysis of Omission [...]
Author: Andrew Tylecote
Publisher: Routledge
ISBN: 1134831773
Category : Business & Economics
Languages : en
Pages : 442
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Book Description
Winner of the Gunnar Myrdal Prize 2010. This prize is awarded annually for the best monograph, on a theme broadly in accord with the EAEPE (European Association for Evolutionary Political Economy) Theoretical Perspectives. There is much debate regarding which countries’ economies have the best economic systems to encourage economic growth and technological change. This book is a major contribution to this discussion, connecting the fields of corporate governance and finance with the field of innovation and technology and analysing the ways in which countries’ systems of corporate governance affect firms’ ability to meet the technological challenges of different sectors. Tylecote and Visintin combine incisive analysis with empirical studies systems of corporate governance in the US, Europe, East Asia and China, demonstrating how these systems vary and how the demands on those who control and finance industry are changing. The authors argue that while certain types of system have worked for particular sectors, the technological revolution through which we are passing demands innovation in corporate governance and finance. Indeed, this book goes some way in challenging accepted views of best practise in corporate governance and finance, showing how structures and rules intended to advance ‘shareholder value’ may undermine it by inhibiting technological change. This book will be very interesting reading for students and researchers engaged with corporate governance and national business systems, as well as those interested in systems of innovation.
