scholarly journals THE IMPACT OF THE GLOBALIZATION PROCESS ON THE DEVELOPMENT OF CORPORATE GOVERNANCE

2019 ◽  
Vol 31 (1) ◽  
pp. 355-362
Author(s):  
Zorica Siljanovska ◽  
Sreten Miladinovski ◽  
Elena Shalevska
Keyword(s):  
Corporate Governance ◽  
Global Market ◽  
Special Focus ◽  
Global Integration ◽  
Governance System ◽  
Global Trends ◽  
Republic Of Macedonia ◽  
Corporate Governance System ◽  
The Republic ◽  
The Impact

The corporate governance is concerned with both the rules and regulations and institutions that influence the management mode within corporations as well as the manner in which they allocate their resources and returns. The globalization process, especially, the global integration of financial markets, puts pressures on national systems and models of corporate governance to converge i.e. comply with the global trends and developments in the area of corporate governance by opening their economies towards the global markets. This paper analyzes this very issue, or, in other words, the impact of the globalization on corporate governance, with special focus on the Republic of Macedonia. Consequently, it is demonstrated that the Republic of Macedonia is included in the process of globalization, companies are interested in presence and competition on the global market, and therefore building a good corporate governance system is a need, not a choice. Moreover, the Republic of Macedonia has substantially harmonized its regulations pertaining to the corporate governance on the basis of the principles commonly accepted at an international level.

scholarly journals Dynamics of the transition of corporate governance models of the Republic of Tatarstan from “oligarchic” to innovative ones through strategic regional management

2020 ◽  
Vol 89 ◽  
pp. 01009
Author(s):  
Nazilya Zarifovna Sayfudinova ◽  
Daniya Kalimullovna Shigapova ◽  
Aleksej Vasilevich Bolshov ◽  
Aelina Askhatovna Barieva ◽  
Irina Anatolievna Akhmetova
Keyword(s):  
Corporate Governance ◽  
Regional Development ◽  
Positive Impact ◽  
Five Factor Model ◽  
Development Strategies ◽  
Governance System ◽  
Corporate Governance System ◽  
The Republic ◽  
Regional Development Strategies ◽  
The Impact

The article examines the dynamics of the transformation of corporate governance in the Republic of Tatarstan. The author’s approach is presented, according to which the strategic regional development affects the corporate governance system of the organization. The analysis of enterprises from various industries of the Republic of Tatarstan has been carried out and the leading ones have been selected. Further, according to the indicators of these organizations, calculations were made using the Altman five-factor model for 5 years. The chosen model and time period allow to reliably trace the dynamics of the company’s economic potential and the results of its development for the reporting periods. The obtained results of the analysis and calculations showed that the corporate governance of enterprises changed the trend and began to move to an innovative type. Regional development strategies have a positive impact on corporate governance of enterprises. Moreover, an important point is that by means of regional development strategies, organizations themselves are interested in improving the corporate governance system. Thus, the impact on enterprises and their changes do not occur “top-down” (authoritarian, edifying), but “bottom-up” (the organization itself seeks to meet modern requirements in order to be economically efficient).

Corporate Governance and Cash Holdings

2021 ◽  
pp. 305-321
Author(s):  
Ahmed Hassanein
Keyword(s):  
Corporate Governance ◽  
Cash Holdings ◽  
Opportunistic Behavior ◽  
Governance System ◽  
Firm Level ◽  
Corporate Managers ◽  
Country Level ◽  
Corporate Governance System ◽  
The Impact ◽  
Corporate Cash Holdings

Corporate cash induces the opportunistic behavior of corporate managers that can create an agency problem. A corporate governance system controls the opportunistic behavior of managers and can affect the firm's policy on holding cash. This study explains how the aspects of corporate governance, country-level and firm-level governance, can affect the corporate policy on holding cash. First, the study provides the nature, definition, and importance of corporate cash holdings. Second, it outlines various motivations and theories behind holding corporate cash. Third, it explains the relation between firm-level governance and corporate cash holdings. Fourth, it focuses on the impact of firm-specific governance attributes on the level of corporate cash holdings. Fifth, it presents the relation between country-level governance and corporate cash holdings.

scholarly journals Assessing the Impact of Corporate Governance on Non-Performing Loans: Empirical Analysis of the Listed Commercial Banks of Pakistan

2019 ◽  
Vol IV (III) ◽  
pp. 188-196
Author(s):  
Ihtesham Khan ◽  
Muhammad Ilyas ◽  
Shehzad Khan
Keyword(s):  
Corporate Governance ◽  
Banking Industry ◽  
Annual Reports ◽  
Governance System ◽  
Nonperforming Loans ◽  
Time Period ◽  
Corporate Governance System ◽  
The Impact ◽  
Code Compliance

Financial crisis shows the ambiguous role of the corporate governance system. Hence, the main purpose of this paper is to assess the impact of corporate governance on Non-performing loans of the banking industry of Pakistan. The time period selected from 2006 to 2016 and source of data is annual reports of respective banks and the World Bank. In order to explain the relationship between the governance system and non-performing loans used descriptive, correlational and panel data analyses. The results revealed a negative and significant effect of corporate governance on nonperforming loans of sample firms of the study. Therefore, suggested for the banking industry of Pakistan to implement and make sure their reports according to corporate governance code compliance to control non-performing loans.

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 Corporate governance and propensity to share information: The long-run effect

2012 ◽  
Vol 10 (1) ◽  
pp. 399-407
Author(s):  
Anna Blajer-Gołębiewska ◽  
Leszek Czerwonka
Keyword(s):  
Corporate Governance ◽  
Information Asymmetry ◽  
Abnormal Returns ◽  
Governance System ◽  
Information Index ◽  
Long Run ◽  
Governance Systems ◽  
Corporate Governance System ◽  
The Impact ◽  
Share Information

The optimal corporate governance system aims to give shareholders confidence that a company is managed efficiently, to create the highest possible profit and to preserve a firm’s reputation. The aim of the research is to find out if the lower level of information asymmetry in corporate governance systems in the Polish listed companies implies higher rates of return for shareholders in the future. We put forward a hypothesis that the impact of lower information asymmetry on company’s performance is overestimated and in reality no long-run effect on the higher abnormal returns occurs. Taking into consideration the initial level of propensity to share information index we analysed future buy-and-hold abnormal returns achieved by 61 companies during the next 3 years.

scholarly journals Did culture have an impact on Tunisian corporate governance system

2008 ◽  
Vol 5 (3) ◽  
pp. 471-481
Author(s):  
Fatma Wyeme Ben Mrad Douagi ◽  
Rim Boussaada
Keyword(s):  
Corporate Governance ◽  
Financial Market ◽  
Cultural Dimensions ◽  
Ownership Concentration ◽  
Hostile Takeover ◽  
Governance System ◽  
Corporate Governance System ◽  
Cultural Component ◽  
The Impact ◽  
Board System

Numerous research works on corporate governance have been undertaken while only few attentions have been devoted to the study of cultural component. The aim of this research is precisely to contribute to the necessary renewal of corporate governance by attempting to highlight some crucial features and issues related to the impact of culture on Tunisian corporate governance system. Based on cultural dimensions of Hofstede (1980), we try to identify the impact of culture on Tunisian corporate governance system. We argue that the characteristics of Tunisian corporate governance system such as ownership concentration, inactivity of hostile takeover market, one–tier board system, limited transparency of information and underdevelopment of financial market, reflect the Tunisian culture

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