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Author: Shih-chang Hung (Finance)
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Shih-chang Hung (Finance)
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Shih-chang Hung
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author:
Publisher:
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Category :
Languages : en
Pages :
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Author: Morris G. Danielson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Martin Fahy
Publisher: John Wiley & Sons
ISBN: 0470013044
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
Following a series of corporate scandals, legislators have company executives in their sights, and are arming themselves with ever-greater regulatory firepower. All agree that good governance is essential - but must not be allowed to stifle business performance. Beyond Governance develops the concept of Enterprise Governance, an emerging framework which unites Performance, Conformance and Corporate Responsibility and shows how addressing all of these areas in a concerted, coordinated fashion will deliver value to the organisation and its stakeholders. In particular, it focuses on the skills, processes and systems that are required to deliver excellence in each of these areas, giving readers a practical insight into the issues and an understanding of best practice in each area. Many firms are rethinking their finance activities in the light of e-commerce, shared service centres, business intelligence technology and cost pressures. Beyond Governance explores the challenge of building a modern, flexible finance function, describing the emerging role of the new CFO and how finance professionals should respond to this new business environment.
Author: Arturo Capasso
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
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Since the beginning of the 21st century, a few serious financial scandals and many cases of corporate mismanagement have driven scholars and politicians to devote increasing attention to corporate governance, in a close relation with business ethics issues. In academic literature, as well as in public policy debates, corporate governance is nowadays acknowledged as a critical factor in economic development and financial markets stability. The evolution in the nature of the firm is among the major causes for the crisis of established corporate governance models. The traditional manufacturing companies - vertically integrated and capital intensive - which emerged at the beginning of the last century and had since then prevailed - have been challenged by new organizational structures, based on intangible assets and networks, more appropriate to a dynamically changing environment, where competition is driven by the availability of distinctive competencies, based on firm-specific knowledge.This paper, building on the resource based view of the firm, but also on stakeholder approach to strategic management, explores how the growing importance of intangible assets is reshaping, in many industries, the basic conditions of corporate governance. The aim is twofold: i) to explain logically why intangible assets modifies the allocation of residual claims, as company performance can substantially affect the wealth of other stakeholders ii) to determine which constituencies should be considered as relevant stakeholders and contribute, to some extent, to the corporate governance.
Author: Pankaj Madhani
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Corporate governance stands for responsible business management geared towards long-term value creation. Prior research found significant relationship between asset composition (tangible versus intangible assets) and corporate governance disclosure practices of firms. However, there is very little research in the current Indian context. Hence, this paper explores such a relationship for firms listed on the Indian stock market by considering a sample that includes firms from nine different sectors, viz., metal, oil and gas, power, IT, FMCG, capital goods, auto, consumer durables and healthcare. It applies Corporate Governance and Disclosure (CGD) index as a proxy for firm-specific rating of governance quality and calculates CGD scores of sample firms listed on Bombay Stock Exchange (BSE). To identify intangible assets dominance in firms, the ratio of market value to book value and capital intensity of sample firms are calculated. Accordingly, firms are divided into tangible assets-dominated and intangible assets-dominated sectors. The findings reveal that there is no significant difference in the corporate governance and disclosure practices of firms across tangible asset- and intangible asset-dominated sectors. The research identifies several reasons why this proposition does not hold true for firms in the current economic environment of India.
Author: Dendi Ramdani
Publisher:
ISBN: 9789089940704
Category :
Languages : en
Pages : 215
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Author: Collins Gyakari Ntim
Publisher:
ISBN:
Category :
Languages : en
Pages :
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This thesis contains the findings of an examination of the relationship between internal corporate governance structures and the financial performance of South African listed firms. Specifically, using a sample of 100 South African listed firms from 2002 to 2006 (a total of 500 firm-year observations) and corporate governance data collected directly from company annual reports, the thesis seeks to ascertain whether better-governed listed firms tend to be associated with higher financial returns than their poorly-governed counterparts. Unlike prior studies, the internal corporate governance-financial performance nexus is investigated by applying both the compliance-index and equilibrium-variable research methodologies. The results based on the compliance-index model suggest that there is a statistically significant and positive association between the quality of the sampled firms? internal corporate governance structures and their financial performance. This finding is robust whether an accounting (return on assets) or a market (Tobin?s Q) based measure of financial performance is used. Distinct from prior studies, an analysis of the impact of complying with the South African context specific affirmative action and stakeholder corporate governance provisions on the financial performance of South African listed firms is also investigated. The results indicate that compliance with the affirmative action and stakeholder corporate governance provisions impacts positively on the performance of South African listed firms. By contrast, the results based on the equilibrium-variable model are generally mixed. First, regardless of the financial performance measure used, board diversity, the frequency of board meetings, and the establishment of board committees except the presence of a nomination committee seem to have no impact on firm financial performance. Second, board size is statistically significant and positively associated with Tobin?s Q (Q-ratio), but statistically insignificant and negatively related to return on assets (ROA). Third, role or CEO duality is statistically significant and positively related to ROA, but statistically insignificant and negatively associated with the Q-ratio. Director shareownership is statistically insignificant and positively related to ROA, but statistically significant and negatively associated with the Q-ratio. Finally, the findings based on both the director shareownership squared and cubed do not support the statistically significant non-linear director shareownership-financial performance association reported by Morck et al. (1988). The findings from a series of robustness or sensitivity analyses carried out suggest that the empirical results reported are generally robust to potential endogeneity problems.
Author: Azizah Abdullah
Publisher:
ISBN:
Category :
Languages : en
Pages : 440
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Book Description
