Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 33

first rewind previous Page / 2 next fast forward last

Search results

Search:
in the keywords:  Corporate governance
help Sort By:

help Limit search:
first rewind previous Page / 2 next fast forward last
1

Development of Corporate Governance Performance Indicators for Czech Manufacturing Companies

100%
Pavláková Docekalová M., Kocmanová A., Kolenák J.
DANUBE: Law and Economics Review
|
2015
|
vol. 6
|
issue 1
57-72
EN
Effective corporate governance is a key element in achieving long-term success for any company. The codes of conduct that corporate governance adopts directly determine the sustainability of business activities. With this in mind, this paper aims to demonstrate the results of research that identifies a set of key indicators of corporate governance performance. The presented research is quantitative. In order to identify key performance indicators, factor analysis was employed. It was found that corporate governance performance is influenced by two factors. For the first factor, the relationship between corporate governance and stakeholders is measured by key indicators: percentage of women within CG, contributions to political parties, politicians and related institutions and number of complaints received from stakeholders. The second factor, strategy & compliance, is generated from the following: percentage of strategic objectives met and total number of sanctions for breaching the law. This research aims to assist both academic and corporate practitioners who want to improve corporate governance performance and, through the use of key performance indicators, support the transparency and sustainability of their business.
2
Content available remote

An empirical evidence on the effect of women board representation on firm performance of companies listed in Iraq Stock Exchange

100%
Farhan Jedi F., Nayan S.
Business and Economic Horizons
|
2018
|
vol. Volume 14
|
issue Issue 1
117-131
EN
The Iraqi stock price index performance has been on the decline which indicates a deteriorating performance of the listed companies which is mostly associated with weak corporate governance practices. Despite that fact that Iraq has gone very far in the liberalization of women, Iraqi board of directors is still dominated by men. However, gender diversity is one of the largest concepts of board diversity and a major issue within corporate governance where several studies seek to discover the influence of diversity on firm performance. Considering the inconsistencies in the results of previous studies concerning gender diversity and firm performance relationship, this lack of consensus permit for further research as it is important to investigate the factors in board processes that are crucial to board effectiveness. This article aims at examining the effect of women representation on firm performance of Iraqi listed firms using panel regression analysis. The empirical results of this paper provide evidence of a positive and significant relationship between female directors and firm performance as measured by Return on Assets while no relationship with Tobin’s q. The important policy implication of this finding is that the Iraqi Stock Exchange and Iraqi Security Commission should incorporate gender diversity in corporate governance practices and encourage women directorship in Iraq. Finally, this study provided some suggestions for future researchers.
3
Publication available in full text mode
Content available

Corporate Governance and the African business context: The Case of Nigeria

100%
Letza S.
Economics and Business Review
|
2017
|
vol. 3(17)
|
issue 1
EN
A robust institutional framework is essential to enable firms to function efficiently. The aspect of corporate governance investigated in this paper is the legal and societal principles and process which form the business context within which firms operate. The paper explores the challenges to firms trading in Africa arising from cultural dynamics peculiar to the continent and further explores the historical reasons for the present cultural context to business in Africa. Nigeria is presented as a special case, perhaps even an extreme case, of the challenges to corporate governance in Africa since it is perceived by many to be one of the weaker environments given its perceived levels of corruption. The paper concludes with an assessment of the likelihood of African states successfully tackling corruption in the future as the current approaches unfold over the coming years.
4
Publication available in full text mode
Content available

Trendy światowe w obszarze ładu korporacyjnego jako remedium na kryzysy finansowe

100%
Wierzbicka A.
Studia Ekonomiczne
|
2018
|
vol. 352
258-268
PL
Obserwowane w ostatnich latach zawirowania na rynkach międzynarodowych, kryzys gospodarczy, potrzeba przeciwdziałania oszustwom, skandalom i nadużyciom finansowym stały się impulsem do poszukiwań determinant podnoszących konkurencyjność gospodarek i niwelujących przy tym wskazane powyżej zagrożenia wraz z całą gamą wynikających z nich konsekwencji. Dlatego celem artykułu jest podjęcie próby oceny roli, jaką odgrywa ład korporacyjny we współczesnej gospodarce.
EN
The recent turmoil in international markets, the economic crisis, the need to combat fraud, scandals and financial fraud have become an impetus for the search for determinants that increase the competitiveness of economies and the non-threatening threats outlined above, along with the full range of consequences. The paper is trying to assess the role that corporate governance plays in the modern economy.
5
Publication available in full text mode
Content available

Ład korporacyjny w przedsiębiorstwach logistycznych – analiza statystyczna wybranych aspektów działalności

89%
Witkowski K., Kurowski M.
Studia Ekonomiczne
|
2017
|
vol. 337
122-137
PL
Obecnie coraz trudniej jest rywalizować poprzez dalsze skracanie czasu realizacji transakcji lub podnoszenie poziomu obsługi logistycznej. O pozycji konkurencyjnej przedsiębiorstw coraz częściej decydują aspekty pozafinansowe: środowiskowe, społeczne oraz ład korporacyjny. Celem przeprowadzonych badań jest ocena ładu korporacyjnego przedsiębiorstw logistycznych oraz ich zróżnicowanie w tym obszarze ze względu na profil działalności. Analiza statystyczna wykazuje, że w zbadanych podmiotach logistycznych poziom ładu korporacyjnego jest niższy od przeciętnego, zmierzonego dla ogółu gospodarki. Ponadto jest on zróżnicowany między grupami przedsiębiorstw logistycznych reprezentujących inne specjalizacje. W odniesieniu do zaangażowania społecznego i środowiskowego poziom ładu korporacyjnego w przedsiębiorstwach logistycznych prezentuje się najkorzystniej. Wynika to głównie z wymogów stawianych przez inwestorów. Niektóre aspekty są jednak nadal zaniedbywane, zwłaszcza zachowanie parytetu płci w zarządach spółek.
EN
Nowadays, it is difficult to compete by further shortening transaction time or improving service level. The non-financial factors such as ecological aspects, social involvement and corporate governance are more and more important in improving companies’ competitive position. The aim of the research is to assess the corporate governance in logistics companies and their differentiation in this field according to their profile. Statistical analysis shows that the level of corporate governance in assessed companies is comparatively lower than calculated for the sample consisted of various industries. It is also differentiated between groups of logistic companies representing other specializations. In regards to social and environmental engagement, the level of corporate governance in logistic companies is the most favorable. This is mainly due to investors’ requirements. Nevertheless, some aspects are still neglected. The main problem is providing gender parity in boards of directors.
6
Content available remote

Corporate governance structure and shareholder wealth maximization

88%
Boateng Prempeh K., Odartei-Mills E.
Perspectives of Innovations, Economics and Business
|
2015
|
vol. 15
|
issue 1
1-30
EN
Over the past two decades the ideology of shareholder value has become entrenched as a principle of corporate governance among companies. A well-established corporate governance system suggests effective control and accounting systems, stringent monitoring, effective regulatory mechanism and efficient utilisation of firms’ resources resulting in improved performance. The object of the research presented in this paper is to provide empirical evidence on the effects of corporate governance on shareholder value maximization of the listed companies in Ghana. Data from ten companies listed on Ghana Stock Exchange covering the period 2003 –2007 were used and analysis done within the panel data framework. The dependent variables, dividend per share and dividend yield are used as a measure of shareholder wealth maximization and the relation between corporate governance and shareholder wealth maximization is investigated. The regression results show that both the board size and the independence have statistically significant relationship with shareholder wealth maximization.
7

Corporate Governance Quality on Specific Case of Romanian Listed Companies

88%
Manoiu S. M., Damian M. I., Strouhal J.
International Journal of Entrepreneurial Knowledge
|
2015
|
vol. 3
|
issue 2
40-58
EN
The purpose of this paper is to analyse the compliance of Romanian listed companies with corporate governance codes. From 2010, the “Comply or Explain” Statement, which discloses if and how the corporate governance principles are applied, became mandatory for all companies listed on Bucharest Stock Exchange (BSE). The methodology employed is based on the analysis of the above mentioned Statements published for the period 2009-2013. Research aims to present through a longitudinal and qualitative study the evolution of the compliance with the BSE Corporate Governance Codes. Most of the observed companies made a step forward in what concerns corporate governance principles and over the study period they disclosed more information on their statements. On the other hand, we found cases where the statements made over the studied period contained inconsistencies for some principles. The implementation of corporate governance rules ensures transparent decision-making, based on clear rules and objectives, and increases shareholders’ confidence in the company.
8

Ownership Concentration, Managerial Ownership and Firm Performance: Evidence from Turkey

88%
Mandacı P., Gumus G.
South East European Journal of Economics and Business
|
2010
|
vol. 5
|
issue 1
57-66
EN
This study examines the effects of ownership concentration and managerial ownership on the profitability and the value of non-financial firms listed on the Istanbul Stock Exchange (ISE) in the context of an emerging market. We measure the firm's performance by Return on Assets (ROA) and Tobin's Q ratios, where the former measures profitability and the latter the value of the firm. In addition, we give detailed information on the main characteristics of the ownership structures of the firms in our sample and find that ownership of Turkish firms is highly concentrated. In addition, the unlisted holding companies have the highest average percentage of shares, which supports the belief that individuals or families establish the holding companies in order to control their listed firms. After controlling for investment intensity, leverage, growth and size, we find that ownership concentration has a significantly positive effect on both firm value and profitability, while managerial ownership has a significantly negative effect on firm value.
9
Publication available in full text mode
Content available

Comparative Analysis of Capitalist Economies: a Focus on Europe and its Different Models

88%
Massa A.
Polish Journal of Political Science
|
2022
|
vol. 8
|
issue 2
4-17
EN
Capitalism is a widely discussed topic in economic as well as in sociological studies. Since the early ‘90s, after the collapse of the economic systems of socialist Countries, it has become the main way of organizing the economy in most of the world. This article is set to describe the features of Liberal Market Economies (LMEs) and Coordinated Market Economies (CMEs), as defined in the literature on the topic, with particular reference to the European context. Even if such description is based on traditional elements, it can be useful in order to study the current evolutionary patterns of the two main models of capitalism, not only in a European perspective but also in a global one.
10
Content available remote

Determiners of enterprise risk management applications in Turkey: An empirical study with logistic regression model on the companies included in ISE (Istanbul Stock Exchange)

88%
Önder Ş., Ergin H.
Business and Economic Horizons
|
2012
|
vol. 7
|
issue 1
19-26
EN
Enterprise risk management (ERM), which came along with the change in the understanding of risk management in companies, refers to evaluation of all the risks as a whole and managing them in line with the targets of the company. This study aims at determining the ERM application levels of the companies included in the Istanbul Stock Exchange and the factors that affect these applications. Existence of ERM in the companies was related with having senior manager in charge of risk management. In order to explain ERM applications with profitability, leverage and company size a Logistic Regression model was established. As a result of the analysis it was determined that about half of the financial sector companies within the ISE employed a chief risk officer (CRO), which means a culture of risk management has been founded within these companies. Moreover, it was determined that profitability of the companies do not have any significance in ERM applications while the most important factors that affect the applications were found to be leverage and company size
11
Content available remote

Ekonomiczna efektywność niezależności nadzoru w spółce akcyjnej

75%
Dominowska J.
Studia Prawno-Ekonomiczne
|
2013
|
vol. LXXXVIII (88)
247-266
EN
The goal of this article is to answer the question if dualistic system with the introduction of full independency and overbalance of such independent members in a board of trustees leads to the achievement of postulated results, i.e. to the growth of the shareholders value. The understanding of the independency and by which way it is achieved – in Europe as well as in the USA, is to be claryfied at the begining. Empirical and legal comparative methods have been used in that area. Empirical research done in USA and Poland will be introduced and the monistic and dualistic systems shall be compared as following. All this should demonstrate that despite unquestionable advantages of appointing independent members of the boards of trustees, the relation of outlays and effects with the existing absolute duty of appointing independent members of the board of trustees shows negative. Close effects are simply achieved also in countries with systems, where the demand of independency is not that essential. An attempt has been undertaken to find the reasons for the negative results of the empirical research on the independency of the members of the boards of trustees and to characterize possible reasons of the lack of correlation between the company’s performance and the number of independent members in their boards of trustees. The authors hope that the scope of analysis drawn this way will contribute to the discussion, whether the independency of the controlling element in the boards of trustees of joint-stock companies guarantied by ius cogens should belong to the indisputable dogmas of the Polish company law.
12
Publication available in full text mode
Content available

Przedstawicielstwo pracownicze w radzie spółki w krajach członkowskich Unii Europejskiej

75%
Szymańska A., Włodarczyk P.
Studia Prawno-Ekonomiczne
|
2012
|
vol. LXXXVI (86)
333-353
EN
Participation of workers in company’s board is one of the basic instruments of corporate governance, which enables us to reflect staff’s standpoint in the process of management. In the first and second part of the article the role of workers’ representatives in company’s boards in different models of corporate governance was presented. The third part is devoted to the analysis of legal solutions in this area in the 27 European Union member countries
13

Analiza możliwości wykorzystania doświadczeń nadzoru korporacyjnego do usprawnienia nadzoru właścicielskiego w gminie

75%
Marona B.
Zeszyty Naukowe Wyższej Szkoły Ekonomii i Informatyki w Krakowie
|
2013
|
vol. 9
257-269
PL
Celem artykułu jest analiza możliwości wykorzystania doświadczeń nadzoru korporacyjnego i właścicielskiego realizowanego w sektorze przedsiębiorstw (prywatnych, państwowych), do usprawnienia nadzoru właścicielskiego realizowanego przez organa gminy nad swoimi jednostkami organizacyjnymi, jak również innymi podmiotami, które realizują zadania w jej imieniu. Sprawniej realizowany nadzór właścicielski w gminie, to większa transparentność w funkcjonowaniu podmiotów komunalnych, to efektywniejsze zarządzanie finansami jednostek organizacyjnych i wreszcie sprawniejsze realizowanie zadań gminy dla danej społeczności lokalnej.(fragment tekstu)
EN
The problem of separating ownership from management with all the consequences it carries, does not occur only in corporations. It is also seen in public administration, at the local government level as well. The main purpose of the paper is the assessment of the possibility to use the corporate governance tools used in the state and private enterprise sector, to exert and improve supervision over organizational units in Polish municipalities.(original abstract)
14

Przejrzystość informacyjna jako element nadzoru korporacyjnego w spółkach giełdowych

75%
Krawczyk M.
Zeszyty Naukowe Wyższej Szkoły Ekonomii i Informatyki w Krakowie
|
2013
|
vol. 9
199-213
PL
Celem artykułu jest omówienie zagadnienia przejrzystości informacyjnej jako elementu koniecznego w dobrze funkcjonującym systemie nadzoru korporacyjnego. Ocena władztwa korporacyjnego uzależniona jest od wielu czynników. Spośród nich kluczową rolę odgrywa polityka transparentności informacyjnej. Warto zaznaczyć, że dzięki dobrze realizowanej polityce dostępu do informacji akcjonariusze są w stanie sprawować kontrolę wykorzystania zainwestowanego przez nich kapitału. Wspomniana polityka informacyjna jest realizowana za pomocą instrumentów wykorzystywanych w relacjach inwestorskich z podziałem na różne formy komunikacji. Dzięki dobrze przeprowadzonej polityce informacyjnej możliwe jest nawiązanie i utrzymanie wzajemnego dialogu między spółkami a interesariuszami. Niniejsza praca została oparta na literaturze krajowej i regulacjach prawnych dotyczących polityki informacyjnej spółek publicznych. W tym celu dokonano analizy dotyczącej obligatoryjnej polityki informacyjnej spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie.(fragment tekstu)
EN
The purpose of the article is to discuss the issue of information transparency as a necessary element of well operating corporate supervision system. Corporate governance evaluation depends on many factors. However, information transparency policy plays a key role. It is worth emphasizing that thanks to well realized information access policy shareholders are able to exercise control of usage of the capital invested by them. This information policy is realized by means of instruments used in relations between investors divided into different forms of communication. Thanks to well-conducted information policy, it is possible to establish and maintain mutual dialogue between a company and stakeholders. This work is based on domestic literature and legal regulations concerning information policy of public limited companies. To this end, an analysis regarding mandatory information policy of companies listed on Warsaw Stock Exchange has been conducted. (original abstract)
15
Publication available in full text mode
Content available

Problemy terminologiczne teorii i praktyki corporate governance

75%
Mesjasz C.
Studia Ekonomiczne
|
2013
|
vol. 141
37-50
EN
Development of theory and practice of corporate governance in Poland is hampered by absence of an unequivocal interpretation of that term in the Polish terminology. The aim of the paper is to present a deepened analysis of meaning of corporate governance in English and of its translations into Polish. It is shown in the paper that interpretation of corporate governance in Polish should reflect its sociopolitical sense associated with the term governance as well as its sense relating to functioning of companies. As the solution, the terms "władanie korporacyjne" or "władztwo korporacyjne" are proposed since they would help to avoid significant obstacles in theoretical considerations and negative consequences in practice of corporate governance in Poland.
16
Publication available in full text mode
Content available

Determinanty wynagrodzenia zarządu– porównanie sektorowe

75%
Urbanek P., Wieczorek A.
Studia Ekonomiczne
|
2016
|
vol. 263
36-49
PL
Problematyka wynagrodzeń kadry kierowniczej najwyższego szczebla wzbudza zainteresowanie od wielu lat. Przez długi okres uwaga skupiała się na poszukiwaniach zależności między płacą osób zarządzających a wynikami ekonomicznymi spółek. Sytuacja znacząco się zmieniła po wybuchu kryzysu finansowego w latach 2007-2008, kiedy to zwrócono uwagę na specyfikę poszczególnych sektorów gospodarki, która ma istotny wpływ na politykę wynagradzania. W tym kontekście szczególne kontrowersje wywołuje ocena polityki wynagradzania w sektorze bankowym. Celem artykułu jest ocena czynników determinujących wynagrodzenia członków zarządów w bankach i spółkach przemysłowych notowanych na Giełdzie Papierów Wartościowych w Warszawie. Badanie zostało przeprowadzone na próbie panelowej obejmującej 16 banków publicznych i 33 spółki przemysłowe. Otrzymane rezultaty nie potwierdzają występowania istotnych różnic w polityce wynagradzania kadry kierowniczej w sektorze bankowym w porównaniu z innymi sektorami gospodarki. Mogą być zatem przyczynkiem w dyskusjach na temat konieczności obejmowania instytucji sektora finansowego szczególnymi regulacjami w reakcji na kryzys finansowy z lat 2007-2008.
EN
The issue of top executive’s remuneration policy has generated interest for many years. For a long time attention was focused on the search for the relationship between the pay of managers and economic performance. The situation changed dramatically after the outbreak of the financial crisis in 2007-2008, when it drew attention to the specificities of the different sectors of the economy, which has a significant impact on the remuneration policy. In this context, the controversy calls the assessment of remuneration policies in the banking sector. This article aims to assess the factors determining the remuneration of management board members at banks and industrial companies listed at the Stock Exchange in Warsaw. The study was conducted on a sample panel consisting of 16 public banks and 33 industrial companies. The obtained results do not confirm the presence of significant differences in executive compensation policies in the banking sector compared to other sectors of the economy. They can therefore be a contribution to the discussions on the need to embrace financial sector institutions specific regulations in response to the financial crisis of 2007-2008.
17
Publication available in full text mode
Content available

Perspektywy i bariery konwergencji systemów nadzoru korporacyjnego

75%
Samborski A.
Studia Ekonomiczne
|
2013
|
vol. 141
72-89
EN
In recent years, a lot of controversy has accumulated around the convergence in corporate governance. Some researchers expect substantial convergence in corporate governance practices, as well as company law, toward the Anglo-American model. For other researchers the differences between the various types of market economies will continue. Historical and cultural factors are the causes. The debate gained strength in the context of the financial crisis of 2007-2009. It was then that corporate governance failed, becoming one of the causes of the global financial crisis. In the following text I attempt to answer the following questions: (1) what are the basic differences in corporate governance systems, and how do they come about? (2) what is the convergence of corporate governance? (3) what are the driving forces of convergence in corporate governance systems in the world economy? (4) what are the main impediments of convergence in corporate governance systems? (5) what results from previous empirical studies on convergence?
18
Publication available in full text mode
Content available

Percepcja funkcjonowania instytucji nieformalnych nadzoru korporacyjnego przez inwestorów mniejszościowych

75%
Kosiń P.
Studia Ekonomiczne
|
2016
|
vol. 263
50-60
PL
W artykule podjęto próbę sformułowania cząstkowych wniosków na temat rzeczywistego znaczenia nieformalnych instytucji nadzoru właścicielskiego. Na gruncie literatury zdefiniowano omawiane instytucje i wykazano ich wpływ na rozwój przedsiębiorstw. W ramach badań empirycznych przeanalizowano dla wybranej próby przedsiębiorstw komentarze inwestorów z portalu finansowego, ze szczególnym uwzględnieniem tych, które oceniały działanie instytucji nieformalnych. Przedmiotowa tematyka była rzadko podnoszona w komentarzach. Nie zachodził też istotny związek pomiędzy rodzajem ocen a notowaniami akcji. Może to oznaczać, że percepcja funkcjonowania instytucji nieformalnych nadzoru przez inwestorów mniejszościowych w Polsce jest jeszcze ograniczona.
EN
The object of this article was to try to formulate partial conclusions about real significance of informal institutions of corporate governance. On the basis of literature mentioned institutions were defined and their effect on enterprises development was demonstrated. In the range of empirical studies, the investors commentaries from financial portal were analyzed, with special regard to these commentaries, which evaluated the activity of institutions. The subject matter was underused in discussions. There were no important connections between kind of evaluations and share pricing. It may indicate, that the minor shareholders perception of informal institutions functioning is limited yet in Poland.
19
Publication available in full text mode
Content available

Corporate governance jako nowy obszar wiedzy i praktyki biznesowej

75%
Jeżak J.
Studia Ekonomiczne
|
2013
|
vol. 141
21-36
EN
The purpose of this paper is to analyse global, mainly Anglo-Saxon and German experience in the field of corporate governance and then attempt to answer a question to what extent this experience should be used in the Polish model of corporate governance. In the first part of the paper the author conducts a review of world literature and presents the most important conclusions from a discussion on the need for changes in both Anglo-Saxon and German corporate governance solutions. These changes are proceeding simultaneously and what is interesting - as the author concludes - both (Anglo- -Saxon and German) models gradually get closer to each other. In the second part of the paper the author introduce the process of convergence of various models and identify the most important elements of this process. The whole paper ends with a recapitulation of the most important conclusions from the discussion.
20
Publication available in full text mode
Content available

Nadzór korporacyjny - perspektywa międzynarodowa

75%
Stępień M.
Studia Ekonomiczne
|
2016
|
vol. 271
222-231
PL
Debata na temat problematyki nadzoru korporacyjnego i nad różnicami pomiędzy poszczególnymi jego systemami jest coraz większa. Występująca globalizacja nie przyczynia się do przyspieszenia procesu konwergencji systemów nadzoru korporacyjnego. Badacze nie są zgodni co do kierunku zmian w celu utworzenia jednego systemu w skali międzynarodowej. Pojawia się pytanie, czy przy wzrastającej internacjonalizacji rynków kapitałowych powinno dojść do ustanowienia jednego systemu? W artykule zaprezentowano istotę i specyfikę nadzoru korporacyjnego oraz omówiono występujące różnice w modelach nadzoru korporacyjnego.
EN
The debate on corporate governance issues and differences between the systems is growing. Appearing globalization does not contribute to speeding up the convergence of corporate governance. Researchers do not agree on the direction changes in order to create a single system on an international scale. The article presents the essence and specificity of corporate governance and discusses the differences in models of corporate governance.
first rewind previous Page / 2 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.