The Use of Principles is a Far More Effective Way to Ensure Fair Levels of Executive Directors’ Remuneration Than is the Use of Detailed Legal Rules: A Discussion

2011 ◽  
Author(s):  
Ewgeni Hersonski
Keyword(s):  
Executive Directors ◽  
Legal Rules

scholarly journals Ensuring fair levels of executive directors’ remuneration: Regulation and use of principles against the use of detailed legal rules in determining the most effective approach for setting executive pay levels. A discussion

2012 ◽  
Vol 1 (3) ◽  
pp. 171-176
Author(s):  
Ewgeni Hersonski
Keyword(s):  
United States ◽  
The United States ◽  
Global Scale ◽  
Executive Directors ◽  
Executive Pay ◽  
Legal Rules ◽  
Pros And Cons ◽  
The Uk

The purpose of this paper is to present arguments concerning the fair levels of executive directors’ remuneration. It is argued that principles are a better way to achieve this goal. However, we also find arguments in support of detailed legal rules when dealing with this matter. Since both methods have their pros and cons the paper delivers a balanced discussion and also outlines how the executive pay is currently regulated in the UK, the United States as well as on the global scale.

Unseen Laws- A Quantitative Approach to Developments in North Korea’s Legal System

2018 ◽  
pp. 22-62
Author(s):  
Martin Weiser
Keyword(s):  
North Korea ◽  
Legal Rules ◽  
The North ◽  
Legal Texts ◽  
Policy Fields ◽  
Policy Agendas ◽  
Broad Policy ◽  
Sophisticated Analysis ◽  
Detailed Picture ◽  
Law Making

The position of law in North Korean politics and society has been a long concern of scholars as well as politicians and activists. Some argue it would be more important to understand the extra-legal rules that run North Korea like the Ten Principles on the leadership cult as they supersede any formal laws or the constitution.1 But the actual legal developments in North Korea, which eventually also mediate those leading principles and might even limit their reach, has so far been insufficiently explored. It is easy to point to North Korean secrecy as a main reason for this lacuna. But the numerous available materials and references on North Korean legislation available today have, however, not been fully explored yet, which has severely impeded progress in the field. Even publications officially released by North Korea to foreigners offer surprisingly detailed information on legal changes and the evolution of the law-making institutions. This larger picture of legal developments already draws a more detailed picture of the institutional developments in North Korean law and the broad policy fields that had been regulated from early on in contrast to the often-assumed absence of legislation in important fields like copyright, civil law or investment. It also shows that different to a monolithic system, various law-making institutions exist and fulfil discernably different legal responsibilities. Next to this limitation in content, scholars in the field currently also have not used all approaches legal developments in the North Korea could be analysed and interpreted with. Going beyond the reading of legal texts or speculating about known titles of still unavailable legislation, quantitative approaches can be applied ranging from the simple counting of laws to more sophisticated analysis of legislative numbering often provided with legislation. Understanding the various institutions as flexible in their roles and hence adoptable to shifts in leadership and policy agendas can also provide a more realistic picture of legal practices in North Korea.

Impact of Corporate Governance on the Cash Holding of the Firms: An Empirical Study of Indian Manufacturing Sector

GIS Business ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 47-52
Author(s):  
Karam Pal Narwal ◽  
Sonia Jindal
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Manufacturing Sector ◽  
Control Variable ◽  
Cash Holding ◽  
Executive Directors ◽  
Control Effect ◽  
Board Size ◽  
Indian Manufacturing Sector ◽  
The Impact

The paper empirically examines the impact of corporate governance on the cash holding of the firms. The components of corporate governance are measured by board size, board meeting, audit committee members, directors remuneration and non executive directors and the cash holding is measured with the log of average cash and size is taken as control variable for the control effect on the dependent variables. Moreover, correlation and panel regression model were employed to examine the relationship between the corporate governance and cash holding. Empirical data was collected from 96 firms over the period of 2004-05 to 2013-14. The results show that directors remuneration and the number of audit committee members positively influence the cash holding and the board size also positively influences the cash holding whereas, the non executive directors and the board meetings do not play any role in enhancing the cash holding.

Relationship between Code of Corporate Governance and Corporate Financial Performance (An Empirical Study of Food Companies Listed on KSE)

GIS Business ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 01-09
Author(s):  
Asma Rafique Chughtai ◽  
Afifa Naseer ◽  
Asma Hassan
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Securities And Exchange Commission ◽  
Executive Directors ◽  
Agency Conflicts ◽  
Cross Sectional ◽  
Return On Equity ◽  
Governance Practices ◽  
Code Of Corporate Governance ◽  
The Impact

The crucial role that implementation of Code of Corporate Governance plays on protecting the rights of minorities, shareholders, local as well as foreign investors cannot be denied. Companies all over the world are required to implement their respective Code of Corporate Governance for avoiding agency conflicts between companies management and stakeholders and for assuring transparency in accountability. This paper aims at exploring the impact of implementation of corporate governance practices (designed by Securities and Exchange Commission of Pakistan) have on the financial position of companies. For explanatory variables of the study, composition of the board as per the Code of Corporate Governance that comprises of presence of independent, executive and non-executive directors has been taken into consideration. Return on equity has been taken as an indicator of firms profitability i.e. the dependent variable. For this study, companies listed on food producing sector of Karachi Stock Exchange have been screened for excogitation of the relationship. It is an empirical research based on nine years data from 2007–2015. Using Hausman Test for selecting the data analysis technique between Fixed or Random, Fixed Cross Sectional Panel Analysis has been used for analysis of the data collected. Findings indicate that presence of independent, executive and non-executive directors as per the code requirements levies a significant impact on the profitability of companies indicated by return on equity. It is, thus concluded that companies should ensure compliance with code of governance practices to reduce not only the agency issues but also to increase their profitability.

Making gender visible in family business: past and present

2012 ◽  
Vol 13 (1) ◽  
Author(s):  
Paloma Fernández Pérez ◽  
Eleanor Hamilton
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Business Leadership ◽  
Legal Rules ◽  
Developed Economies ◽  
The Family ◽  
Interdisciplinary Synthesis ◽  
Complex Forms ◽  
Rules Of The Game

This  study  contributes  to  developing  our understanding of gender and family business. It draws on studies from the business history and management literatures and provides an interdisciplinary synthesis. It illuminates the role of women and their participation in the entrepreneurial practices of the family and the business. Leadership is introduced as a concept to examine the roles of women and men in family firms, arguing that concepts used  by  historians or economists like ownership and management have served to make women ‘invisible’, at least in western developed economies in which owners and managers have been historically due to legal rules  of  the  game  men,  and  minoritarily women. Finally, it explores gender relations and  the  notion  that  leadership  in  family business  may  take  complex  forms  crafte within constantly changing relationships.

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