scholarly journals Extraterritorial impacts of the Sarbanes-Oxley Act on external corporate governance – current evidence from a German perspective

2006 ◽  
Vol 3 (3) ◽  
pp. 113-127 ◽  
Author(s):  
Axel Haller ◽  
Jürgen Ernstberger ◽  
Christian Kraus
Keyword(s):  
Corporate Governance ◽  
Current Evidence ◽  
The European Union ◽  
Governance System ◽  
Sarbanes Oxley ◽  
Corporate Governance System ◽  
Eu Commission ◽  
Tremendous Impact ◽  
The Eu

The Sarbanes-Oxley Act (SOX) has not only had tremendous impact on the U.S corporate governance system, but also on other countries with companies subject to SOX. The paper analyzes the major direct impacts of SOX on the European Union (EU) and Germany as a Member State. The focus of the analysis is on rules concerning external corporate governance instruments, i.e. the auditing professions’ oversight, auditors’ independence and auditing standards. Additionally, the paper investigates whether the contemporary regulatory activities in the EU and Germany concerning external corporate governance can be explained as indirect institutional consequences of SOX. Although the EU Commission says for the record that it has an own long-term strategy of modernizing corporate governance, the paper demonstrates that several rules of SOX quite obviously served as a model for the EU regulatory activities. The same phenomenon can be observed for the new German regulations of external corporate governance

scholarly journals The Impact of Corporate Governance on Company Performance: A Study among Medium and Large Enterprises in Kosovo

2018 ◽  
Vol 9 (6) ◽  
pp. 207-212
Author(s):  
Saxhide Mustafa ◽  
Hajdin Berisha ◽  
Shyqyri Llaci
Keyword(s):  
Corporate Governance ◽  
Company Performance ◽  
Governance System ◽  
Market Experience ◽  
Corporate Governance System ◽  
Governance Practices ◽  
The Impact ◽  
Proper Balance ◽  
Large Enterprises

Abstract An effective corporate governance system is established to ensure proper balance of long-term interests of different stakeholders (primarily: owners, employees and management) and improve company's performance and its competitive position in the market. This paper provides a theoretical discussion and empirical evidence on the interdependence between corporate governance and company performance among medium and large enterprises in Kosovo. A questionnaire survey was employed for data collection purposes. The study included a sample of 87 managers from 87 medium and large enterprises. Results indicate that effects of corporate governance on the performance tend to be greater in larger companies. Regarding the determinants, the theoretical expectations are confirmed. Results confirm that the size of the company, the level of investment, export activities and company life expectancy are statistically significant determinants of the adoption of corporate governance practices. As a result, larger companies with large scales of investment and longer market experience tend to adopt more corporate governance practices. The study suggests that corporate governance will inevitably affect companies’ performance and further research is needed in this context.

scholarly journals ON CERTAIN ISSUES OF DETERMINING THE LIMITS OF DISCLOSURE OBLIGATIONS IN CORPORATE LAW

2020 ◽  
Vol 11 (87) ◽  
Author(s):  
Katerina Varava ◽  
Keyword(s):  
Corporate Governance ◽  
Information Disclosure ◽  
Governance System ◽  
Modern Development ◽  
Foreign Countries ◽  
Corporate Governance System ◽  
Nature Of Information ◽  
Disclosure Obligations ◽  
Corporate Information

The modern development of corporate governance is influenced by many factors caused by the process of globalization, the creation and implementation of unified rules for regulating corporate relations at the regional and international levels. The trend of development and implementation of social entrepreneurship as a reference point of the modern model of business formation, the transition from the system of companies, which is aimed at short-term goals of profit to long-term investments, caused changes in the corporate governance system. In particular, the policy of disclosure of corporate information as one of the most important institutions in the field of corporate relations. Corporate information and awareness of the subjects of corporate relations about the state of business plays a key role in decision-making in corporate governance. The current process of transformation of the sphere of corporate governance has significantly influenced the question of the limits of disclosure of corporate information to the executive bodies of companies. The article examines the theoretical aspects of the executive's duty to disclose information. Doctrinal approaches to the establishment of restrictions on the disclosure of certain corporate information is analyzed. The normative implementation of the obligation and its limits for the disclosure of corporate information in the legislation of foreign countries is systematized. The main tendencies of expanding the boundaries of corporate non-financial information disclosure are revealed. Ways to improve and harmonize national regulations for the disclosure of corporate information in accordance with foreign experience are proposed. It was found that providing such information not only helps to understand the company's impact on the overall economy, but also opens the company to more investors and targeted investment. The obligation to disclose corporate information is designed for the effective operation and development of the company, but it is necessary to take into account the nature of information and the possibility of its unfair use to the detriment of the company.

scholarly journals Corporate Consistency and the Regulations of the Corporate Governance System

2017 ◽  
Vol 7 ◽  
pp. 213-234
Author(s):  
Ryszard Kamiński ◽  
Michał Flieger
Keyword(s):  
Corporate Governance ◽  
Comparative Method ◽  
Descriptive Analysis ◽  
Daily Basis ◽  
Primary Sources ◽  
The European Union ◽  
Governance System ◽  
Consistency Model ◽  
Corporate Governance System ◽  
First Time

Corporate governance involves not only working out the relationship between a company and its shareholders, but also a search for consistency on a daily basis. When consistency is achieved, the shareholders’ satisfaction is higher and relations improve. Consistency is a prerequisite for a company’s effectiveness and efficiency, and it is the board’s task to make a corporation consistent. The first part of the paper introduces M. Flieger’s concept of corporate consistency, where platforms of consistency are introduced and the consistency model is proposed. This is the first time that such an introduction has been made, and this may lead to further discussion and research. The author points out that managers are rarely aware of the consistency problem, and there are no tools which enable a consistent system to be worked out. This makes the concept of corporate consistency worth investigating. In the second part of the paper, R. Kaminski focuses on the development of the European Union and Polish regulations, which were introduced as a consequence of the changing conditions in company activity. This section determines the content and sequence of the main issues discussed in the article. These include: the characteristics of the concept of a corporate governance system, the presentation of changes in regulations regarding a corporate governance system in the EU and the presentation of Polish regulations on corporate governance. The primary sources used in the work were literature and the rules and standards (mandatory and optional) on corporate governance. Both authors used descriptive analysis and the comparative method.

scholarly journals Banks: regulation and corporate governance framework

2008 ◽  
Vol 5 (2) ◽  
pp. 449-458 ◽  
Author(s):  
Maria Cristina Ungureanu
Keyword(s):  
Corporate Governance ◽  
Financial Markets ◽  
Banking Sector ◽  
Banking Industry ◽  
The European Union ◽  
Governance System ◽  
Financial Systems ◽  
Governance Framework ◽  
Corporate Governance System ◽  
European Union Countries

The banking sector industry is somewhat unique because it is simultaneously consolidating and diversifying. Banks’ major role in stabilising the financial systems of countries and in spurring their economic growth explains the particularities of their own corporate governance. The specificity of banks, the volatility of financial markets, increased competition and diversification expose banks to risks and challenges. The banking industry is heavily regulated and supervised in every country around the globe. This, in turn, establishes a particular corporate governance system. The paper lays out the specific attributes of banks that influence their regulatory and supervisory environment, which, in turn, creates a unique corporate governance framework for the banking industry. The paper emphasises the benefits and limits of regulations and supervision on banks’ corporate governance and focuses its empirical results on the European Union countries.

European Integration

2020 ◽  
Author(s):  
Johann P. Arnason
Keyword(s):  
European Integration ◽  
Eastern European ◽  
The European Union ◽  
Historical Processes ◽  
History Of ◽  
External Conditions ◽  
Eastern European Countries ◽  
Totalitarian Regimes ◽  
The Eu

Different understandings of European integration, its background and present problems are represented in this book, but they share an emphasis on historical processes, geopolitical dynamics and regional diversity. The introduction surveys approaches to the question of European continuities and discontinuities, before going on to an overview of chapters. The following three contributions deal with long-term perspectives, including the question of Europe as a civilisational entity, the civilisational crisis of the twentieth century, marked by wars and totalitarian regimes, and a comparison of the European Union with the Habsburg Empire, with particular emphasis on similar crisis symptoms. The next three chapters discuss various aspects and contexts of the present crisis. Reflections on the Brexit controversy throw light on a longer history of intra-Union rivalry, enduring disputes and changing external conditions. An analysis of efforts to strengthen the EU’s legal and constitutional framework, and of resistances to them, highlights the unfinished agenda of integration. A closer look at the much-disputed Islamic presence in Europe suggests that an interdependent radicalization of Islamism and the European extreme right is a major factor in current political developments. Three concluding chapters adopt specific regional perspectives. Central and Eastern European countries, especially Poland, are following a path that leads to conflicts with dominant orientations of the EU, but this also raises questions about Europe’s future. The record of Scandinavian policies in relation to Europe exemplifies more general problems faced by peripheral regions. Finally, growing dissonances and divergences within the EU may strengthen the case for Eurasian perspectives.

Italy's politics without policy: Balancing Atlanticism and Europeanism in the Middle East

Modern Italy ◽  
2008 ◽  
Vol 13 (2) ◽  
pp. 135-153 ◽  
Author(s):  
Raffaella A. Del Sarto ◽  
Nathalie Tocci
Keyword(s):  
Foreign Policy ◽  
Middle East ◽  
The United States ◽  
The European Union ◽  
Short Term ◽  
The Government ◽  
Specific Interests ◽  
Policy Shifts ◽  
The Eu

Focusing on Italy's Middle East policies under the second Berlusconi (2001–2006) and the second Prodi (2006–2008) governments, this article assesses the manner and extent to which the observed foreign policy shifts between the two governments can be explained in terms of the rebalancing between a ‘Europeanist’ and a transatlantic orientation. Arguing that Rome's policy towards the Middle East hinges less on Italy's specific interests and objectives in the region and more on whether the preference of the government in power is to foster closer ties to the United States or concentrate on the European Union, the analysis highlights how these swings of the pendulum along the EU–US axis are inextricably linked to a number of underlying structural weaknesses of Rome's foreign policy. In particular, the oscillations can be explained by the prevalence of short-term political (and domestic) considerations and the absence of long-term, substantive political strategies, or, in short, by the phenomenon of ‘politics without policy’ that often characterises Italy's foreign policy.

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