Corporate Governance Issues in a Pandemic Context

Regulating Risk by 'Strengthening Corporate Governance'

Corporate governance is no longer a new dimension in the Indian corporate history. Corporate governance has succeeded in attracting a good deal of public interest because of its importance for economic health of corporations and the welfare of society. Corporate governance now encompasses the interest of not only the shareholders but also many stakeholders. In a general sense, corporate governance is all about promoting corporate fairness, transparency and accountability. Corporate governance is to be labeled as the processes and operating relationship that best achieve organizational goals. It is generally understood that the quality of corporate governance will shape the future of any capital market, and that is the reason why there is increasing acceptance of this particular concept in industry as well as financial markets. Progressive corporations in India have voluntarily put in place systems of high-quality corporate governance. More and more organizations are realizing that good corporate governance is indispensable to effective market discipline, rating relationship that best achieve organizational goals. Speaking in Indian context, Issues of corporate governance have come to force in the last couple of years. Consequently, the corporate governance problems in India require very different solutions at this stage of our corporate development. N R Narayana Murthy of Infosys Technologies says, “Corporate Governance is the acceptance by management of the inalienable rights of shareholders as the true owners of the corporation and of their own role as trustees.” The present paper tries to find out the state of Corporate Governance India and the Existence of Accountability in Indian Corporate Governance

Given the vital role of banks and other financial institutions in financial and economic stability, and also their great vulnerability to the potential imperfections of corporate governance and the need to maintain the depositors' funds and the stakeholders’ interests, the issue of corporate governance and eliminating its weaknesses and failures are extremely important in banking industry. In recent financial scandals and economic crises which banks and other financial institutions have had a leading role because of malfunctioning of their corporate governance mechanisms. Furthermore, in 2011, the occurrence of a massive financial embezzlement and existence of enormous deferred bank accounts in Iran banking system implies that there is a serious failure in banks' corporate governance for the experts in this field.Therefore this study attempts to prepare information about the current state of corporate governance in Iran banks and compares it with that of prosperous big banks in other parts of the world. Additionally, it is going to investigate the weak points of corporate governance in Iran banks in order to present an appropriate model for them. It also should be noted that we review all available related documents in Iran banks and interview the managers and experts to obtain valid feedbacks in this regard. Then, we review successful and unsuccessful experiences of famous international banks such as Bank of America, Toronto-Dominion Bank, J. P. Morgan, and HSBC, and their corporate governance structures to extract and model them. By comparing this model with those belonging to Iran banks we can realize almost any weakness existing in Iran banks. Finally we suggest an appropriate model for Iran banks to improve the efficiency and effectiveness of the mechanism of their corporate governance.

EUGENE FAMA and Michael Jensen's treatment of the "Separation of Ownership and Control" is both insightful and informative. It deepens our understanding of corporate control, and the analysis of residual claimants usefully extends the economics of internal organization to include partnerships, mutuals, nonprofits, and the like. The basic argument is this: specialized governance structures arise in response to the efficiency needs of each type of organization. This is an important argument and one with which I broadly concur. They couple this, however, with a strong suggestion that these structures have reached a high degree of refinement-on which account there is not now, if indeed there ever has been, an organization control problem with which scholars and others are legitimately concerned. On this point I have grave doubts. My discussion of the paper addresses three issues: What is the relation, if any, of the hierarchical organization of the firm to economic performance? What relation, if any, does residual claimant status have to the composition and character of the board of directors? And is there now or has there ever been a corporate control problem? I deal with each of these issues in order.

The Oxford Handbook of corporate governance

This paper selects the panel data of the main board listed companies in Shenzhen and Shanghai from 2011 to 2016 as the research object and constructs the intersection of corporate governance comprehensive index and accounting conservatism and corporate governance index. Based on this, the mixed utility model is used to empirically test the relationship between accounting conservatism, corporate governance, and stock price collapse risk. The results show that: accounting conservatism, corporate governance and stock price collapse risk are negatively correlated, and conservative accounting policies can effectively restrain the occurrence of the stock price collapse, and higher levels of corporate governance can effectively reduce the possibility of the future stock price crash, and accounting conservatism and corporate governance have substitution effects in preventing the risk of the stock price collapse, and higher corporate governance levels can significantly reduce the negative impact of accounting conservatism on future stock price collapse risks. This paper also puts forward some suggestions to reduce the risk of stock price collapse from two aspects of improving accounting conservatism and strengthening corporate governance, which can be used as the reference for the sustainable and stable development of the capital market.

This chapter addresses how corporate governance supports shareholder-director conflicts and company success. Islamic financial institution (IFI) governance and performance have not been studied, yet corporate governance has affected previous financial crises. This examines IFI board size, ownership, CEO duality, and pay committee independent directors. Also studied is how Islamic corporate governance influences executive director pay. Thus, IFIs require an IWBCGF to handle current and future corporate governance issues. Qualitative corporate governance metrics research and qualitative Islamic principle evaluation helped exploratory studies attain these goals. The research shows that corporate governance strongly impacts IFI executive pay. These results show that executive directors require an Islamic-based comprehensive governance framework to navigate corporate governance issues. The study makes literary contributions. It tackles the lack of religious research on Islam and IFI corporate governance. It highlights IFIs' corporate governance and CEO remuneration.

The challenging issues in corporate governance and company performance were explored in the international conference that took place in Lisbon on October 26th, 2017, entitled “Corporate governance and company performance: Exploring the challenging issues” (the joint organization was composed by ISEG Lisbon, publishing house “Virtus Interpress”, ADVANCE/CSG Research Center and Virtus Global Center for Corporate Governance). The main purpose of the conference was to provide the platform at international level for academics to analyse recent trends and upcoming challenges in corporate governance and company performance, major challenges and new horizons in further research. Keynote speakers addressed valuable suggestions and examples of how researchers focused on the board of directors can learn from research approaches of behavioural scientists regarding individual and group behaviour. Scholars participated in the conference concluded that insights from various disciplines should be combined for performing more precise and accurate research on corporate boards. Moreover, scholars identified main challenges currently facing the boards, namely the exponential rise in the number of risks and the difficulties of developing relevant strategies. A relevant discussion was raised concerning as to whether discretionary accruals fit methodological needs of researchers focused on corporate governance and on the financial information disclosed. In the line with recent practices in corporate governance in Europe, scholars suggested that female directors were associated with fewer income-increasing discretionary accruals.

This study aims to prove that national culture strengthens corporate governance's impact on integrated reporting. Secondary data are used in this investigation obtained from the integrated reporting database example. The sample was taken using the purposive sampling method which ultimately obtained 336 samples of data, with observation years from 2019-2022. Data processing using Warp PLS version 7.0. This research demonstrates that national culture strengthens corporate governance's impact on integrated reporting. However, only the culture of uncertainty avoidance and long-term oriented culture have a role in strengthening corporate governance's impact on integrated reporting. In addition, corporate governance also has a positive effect on integrated reporting. The implication of this study is the importance of the role of national culture and corporate governance on integrated reporting. The originality of this study is that national culture is used to strengthen corporate governance's impact on integrated reporting, which has so far been difficult to find similar research.

The article deals with the issues of corporate governance. The relevance of forming a corporate governance system based on the value approach is emphasized. The directions of corporate governance assessment are determined. It is recommended that research on the introduction of value-based principles in corporate governance be carried out taking into account the value orientations of the company's activities, organizational and regulatory support for corporate governance, and the introduction of socially responsible practices in the activities of the enterprise. The article identifies trends in corporate governance based on values. For this purpose, the reports and information posted on the websites of 15 enterprises belonging to the group of the largest private companies in Ukraine were studied. Corporate values were grouped. It is found that most often the effective development of enterprises is related to personnel. The organizational and regulatory support for the implementation of corporate governance based on the value-based approach is considered. It is noted that in most of the studied enterprises the responsibility for the implementation of socially oriented measures is assigned to the departments and divisions of the enterprise. It is determined that the Corporate Governance Code as a document regulating corporate relations has been developed and implemented by a small number of enterprises. It is concluded that in substantiating decisions on management and control of the company's activities on the basis of harmonization of stakeholders' interests, most of the studied enterprises use the provisions developed at the enterprise. The implementation of socially responsible practices in the activities of enterprises is studied. It is noted that interaction with stakeholders is recognized by enterprises as a priority in ensuring their development. However, it is proved that in most enterprises the policy of interaction with stakeholders has not been formalized. It is noted that enterprises integrate the Sustainable Development Goals into their practical activities. It is determined that enterprises implement social programs and projects, most of which are related to human resource development and community support.

Corporate governance issues are especially important in transition economies, since these countries do not have the long-established financial institution infrastructure to deal with corporate governance issues. Before the fall of the Berlin Wall and the collapse of the Soviet Union, there was no need to discuss corporate governance issues because all enterprises were owned by the state and there were no shareholders. All that has changed since 1989. This paper discusses the view on corporate governance in some transition economies. Highly limited knowledge on executive pay in (post)transition economies creates demand for research in this filed; this paper explores executive compensation structure in Croatia. The research was conducted among Croatian public limited companies during December 2010 through February 2011 at a response rate of 18,44%. Paper also covers specificities of the development of the corporate governance structures and practices in the Republic of Macedonia.

This study sets the task of studying the legal aspects of corporate governance in the context of existing international law. Consideration of issues related to the legal aspects of corporate governance is of great importance for the development of common criteria for evaluating their activities from the point of view of existing legal norms. The development of ever new forms of public organizations and the need to develop legislative norms to regulate their activities only emphasizes the importance of the issue under study. The relevance of this problem is of particular importance in light of the fact that to date, the laws of most countries have not yet developed clear criteria governing the corporate activity. This fact leads to difficulties in studying this issue and the high probability of misunderstanding in matters of corporate activity and corporate governance features, not to mention giving this activity a proper assessment from the standpoint of the norms of current legislation. This study sets the task of studying the fundamental legal rules regulating the corporate governance of Ukraine and foreign countries with the identification of the similarities and differences of existing legal standards. The method of comparative analysis of works of domestic and foreign researchers in the framework of the subject under consideration was selected. The applied value of this material is to identify the main criteria for the compliance of the current aspects of corporate governance with international law with a view to the subsequent application of the results in practice. The research prospects in this direction from a legal point of view consist in comparing the current legislative acts regulating international law with regard to corporate governance issues, which opens up great opportunities for analysis of all the provisions of corporate governance and bringing them into line with the norms of existing international law.

The importance of good corporate governance for business development cannot be ignored. Therefore the Nigerian banking sector requires the practice of good corporate governance for its stability, growth and development. This has become evident due to the role of the banking sector as a driver of economic development. Therefore in this chapter the corporate governance practices in the Nigerian banking sector are discussed vis-á-vis corporate governance codes therein. The operationalization of the Central Bank of Nigeria (CBN) Code (2006) is critically examined, as well as the introduction of the revised CBN Code (2014), by discussing the updates as presented in the CBN Code (2014). The author explores the enhancement and strengthening of the whistleblowing mechanism vis-á-vis good corporate governance, as detailed in the whistleblowing guidelines of the CBN Code (2014). To further strengthen corporate governance in the Nigerian banking sector, useful recommendations on enhancing corporate governance practices are proffered.

Corporate Governance in Europe: An Empirical Analysis of the Italian Case Among Non Financial Listed Companies

Integrated Reporting and Sustainable Corporate Governance from European Perspective