Corporate Governance, Valuation, and Performance: Evidence from a Voluntary Market Reform in Brazil

Las reformas legislativas que han afectado en los últimos tiempos a la organización y el funcionamiento del sistema financiero español han tenido una especial repercusión en el ámbito de las cajas de ahorros. La tramitación parlamentaria de la Ley 44/2002, de 22 de noviembre, de Medidas de Reforma del Sistema Fianciero, reavivó el debate sobre su régimen jurídico y la necesidad de acotar la intervención pública en su seno. Ahonda en ello la Ley 26/2003 , de 17 de julio, de Transparencia, que extiende al ámbito de las cajas la preocupación por el corporate governance. Ambas normas responden a la necesidad de dar respuesta a algunos de los problemas más inmediatos a que se enfrentan estas entidades, si bien adolecen de un defecto fundamental por cuanto no abordan de forma exhaustiva la regulación de la institución. Se perpetúa así la trayectoria tradicional de "parcheo" del régimen jurídico aplicable a las mismas, evitando entrar en la cuestión esencial de la definición de su naturaleza jurídica y abocando a las cajas, en consecuencia, al díficil reto de acompasar su vocación social tradicional a las nuevas exigencias legales en pro de una mayor eficiencia, racionalidad y neutralidad de su acitividad económica.<br /><br />Recent legal changes pertaining to the organization and performance of the Spanish financial system have had significant repercussions on the savings banks sector. The law on financial market reform passed in 2002, Ley Financiera, raised once again the debate on their legal situation and the urge to cut down public influence on their management. The 2003 Transparency Law, Ley de Transparencia, follows this reform and extends corporate governance to Spanish savings banks. Both Laws seek to confront some of the most important issues raised by these credit institutions, but they also share the flaw of not regulating its legal framework and status completely. They continue, therefore, to add "patches" to the savings banks legislation, challenging these institutions to combine its function as a credit institution in a market economy and its position as a social foundation

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Corporate Governance and Performance of Organizations

Journal of Business and Economics ◽

10.15341/jbe(2155-7950)/05.09.2018/006 ◽

2018 ◽

Vol 9 (5) ◽

pp. 439-446

Author(s):

Hamid Ait lemqeddem ◽

◽

Mounya Tomas ◽

Keyword(s):

Corporate Governance ◽

Agency Theory ◽

Theoretical Foundation ◽

Quantitative Approach ◽

Governance Practices ◽

Deductive Method ◽

Private And Public ◽

Is Theory ◽

And Performance ◽

Do So

There is renewed interest in the need to focus on corporate governance in an environment where it is a performance imperative for all small and large organizations, private and public, beginner or established.The purpose of this study is to demonstrate the place of corporate governance practices in organizations to ensure that the board, officers, and directors take action to protect shareholder interests and all stakeholders. It is important to focus on the effect of these practices on improving performance and competitiveness. To do so, we opted for the hypothetico-deductive method with a quantitative approach. Our theoretical foundation is theory is agency theory.

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Board Effectiveness: An Evaluation based on Corporate Governance Score

Think India ◽

10.26643/think-india.v18i1.7802 ◽

2015 ◽

Vol 18 (1) ◽

pp. 16-23

Author(s):

Hitesh Shukla ◽

Nailesh Limbasiya

Keyword(s):

Corporate Governance ◽

Good Governance ◽

Sustainable Growth ◽

Governance Mechanism ◽

Minority Shareholders ◽

Effective Governance ◽

Performance Orientation ◽

Corporate Governance Mechanism ◽

And Performance ◽

Ethical Governance

Growth, progress, and prosperity of any country depend highly on the corporate governance mechanism of that country. Good governance of a country helps it to sustainable growth and consistency in progress. The good governance should contribute towards the improvement in transparency, ethics, morality, and disclosure. The principles of good governance stand on honesty, trust, integrity, openness, and performance orientation. Our honorable Prime Minister Narendra bhai Modi had given the three E for good governance during his speech on Independence Day i.e. Effective Governance, Electronic Governance, and Ethical Governance. The fundamental concern of corporate governance mechanism is to ensure the protection of minority shareholders/owners of specific firms. Mechanism of a corporate governance specifies the relations among the shareholders, board of directors, and managers. The present paper is an attempt to evaluate the effectiveness of the board by calculating the corporate governance score. The mandatory and non-mandatory guidelines have been considered while assigning points to specific parameters of the corporate governance.

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