Search results for: civil liability of directors

Authors: Hassan M. Elkamchouchi, Samy H. Darwish, Yasser H. Elkamchouchi, M. E. Morsy

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Methodology is suggested to design a linear rectangular microstrip array antenna based on Yagi antenna theory. The antenna with different directors' lengths as parasitic elements were designed, simulated, and analyzed using HFSS. The calculus and results illustrate the effectiveness of using specific parasitic elements to improve the directivity and gain for microstrip array antenna. The results have shown that the suggested methodology has the potential to be applied for improving the antenna performance. Maximum radiation intensity (Umax) of the order of 0.47w/st was recorded, directivity of 6.58dB, and gain better than 6.07dB are readily achievable for the antenna that working.

Keywords: directivity, director, microstrip antenna, gain improvment

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Authors: Zahra A. Al Nasser, Domenico Campa

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This paper investigates board of directors and firms’ ownership structure on non-financial companies listed in Gulf Cooperation council (GCC) countries using data from 2009 to 2013. The overall result of the study is that board size and board meeting have increased over years. Additionally, all combined committee variables have improved as well as audit committee size, audit committee meeting and audit committee experience have improved over the years. Furthermore, Oman is the only country that has not shown any statistically significant change in value of its associated variables.

Keywords: corporate governance, GCC countries, board of directors, ownership structure

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Authors: Lucy Novianti

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The purpose of this study is to determine the effect of corporate governance, ownership structure, and cash holdings on firm value, either direct or indirect through profitability as an intervening variable for non-financial companies listed on the Indonesia Stock Exchange during 2006 to 2014. Samples of 176 firms are chosen based on purposive sampling method. The results of this study conclude that profitability, the size of Audit Committee, audit quality, and cash flow have positive effects on firm value. This study also shows that the meeting frequency of the Board of Directors and free cash flow have negative effects on firm value. In addition, this study finds that the size of the Board of Directors, Independent Commissioner, and ownership structure do not have significant effects on firm value. In this study, the function of profitability as an intervening variable can only be done on the impact of the meeting frequency of the Board of Directors and cash flow on firm value. This study provides a reference for management in decision making concerning the application of corporate governance, cash holdings, and financial performance. Moreover, it can be used as additional information for investors in assessing the feasibility of an investment. Finally, it provides a suggestion for the government regarding the regulation of corporate governance.

Keywords: cash holdings, corporate governance, firm value, ownership structure, profitability

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Authors: Solomon Okorley

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With the emergence of artificial intelligence, a proposition that has been made with increasing conviction is the need to assign legal personhood to robots. A major problem that arises when dealing with robots is the issue of liability: who do it hold liable when a robot causes harm? The suggestion to assign legal personality to robots has been made to aid in the assignment of liability. This paper contends that it is premature to assign legal personhood to robots. The paper employed the doctrinal and comparative research methodology. The paper first discusses the various theories that underpin the granting of legal personhood to juridical personalities to ascertain whether these theories can aid in the proposition to assign legal personhood to robots. These theories include fiction theory, aggregate theory, realist theory, and organism theory. Except for the aggregate theory, the fiction theory, the realist theory and the organism theory provide a good foundation to the proposal for legal personhood to be assigned to robots. The paper considers whether robots should be assigned legal personhood from a jurisprudential approach. The legal positivists assert that no metaphysical presuppositions are needed to determine who could be a legal person: the sole deciding factor is the engagement in legal relations and this prerequisite could be fulfilled by robots. However, rationalists, religionists and naturalists assert that the satisfaction of the metaphysical criteria is the basis of legal personality and since robots do not possess this feature, they cannot be assigned legal personhood. This differing perspective shows that the jurisprudential school of thought to which one belongs influences the decision whether to assign legal personhood to robots. The paper makes arguments for and against the assigning of legal personhood to robots. Assigning legal personhood to robots is necessary for the assigning of liability; and since robots are independent in their operation, they should be assigned legal personhood. However, it is argued that the degree of autonomy is insufficient. Robots do not understand legal obligations; they do not have a will of their own and the purported autonomy that they possess is an ‘imputed autonomy’. A crucial question to be asked is ‘whether it is desirable to confer legal personhood on robots’ and not ‘whether legal personhood should be assigned to robots’. This is due to the subjective nature of the responses to such a question as well as the peculiarities of countries in response to this question. The main argument in support of assigning legal personhood to robots is to aid in assigning liability. However, it is argued conferring legal personhood on robots is not the only way to deal with liability issues. Since any of the stakeholders involved with the robot system can be held liable for an accident, it is not desirable to assign legal personhood to robot. It is forecasted that in the epoch of strong artificial intelligence, granting robots legal personhood is plausible; however, in the current era, it is premature.

Keywords: autonomy, legal personhood, premature, jurisprudential

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Authors: Theresia Simatupang dan Rahmayanti

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Tax Law is a legal product and therefore should be subject to the legal norms, both about this actions, implementation, and about the material. Law has always aimed at providing justice, and besides that the law as a tool used to organize the order or rule of law. tax classification of a crime in this is very necessary, because the crime of taxation is very detrimental to the country and is still very high in society and socialization associated with punishment in sentencing that would have to provide a deterrent for the perpetrators, so refer to the this, these criminal offenses can endanger the stability of the nation's economy and the country that require special snacks. The application of legal sanctions against the perpetrators of the crime of taxation already has a strong legal basis, namely UU KUP. UU KUP have loaded threat (sanctions) severe punishment for tax payers who commit offenses and crimes in the field of taxation, which is contained in Article 38, and Article 39, Article 41, Article 41 A, and 41 B as well as Article 43 of Law and Law No. 12 KUP about 1985 Land Tax and Building. Criminal sanctions against violators of the tax provision are important because tax payers sanctions for violating tax laws.

Keywords: accountability, tax crime, criminal liability, taxation

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Authors: Aliya Idrissova

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Civil service (public administration) is an important social institution of society properties. Civil service institution had a significant impact on modernization processes in Kazakhstan through ensuring the functioning of all the subsystems of social life. This article is an attempt to analyses the reforms of public service institution in Kazakhstan and to assess its influence on modernization processes.

Keywords: civil service, Kazakhstan, modernization, a national model of civil service, civil service reforms, bureaucracy

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Authors: Francesco Venuti, Simona Alfiero

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The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.

Keywords: agency theory, corporate governance, insurance companies, risk taking

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Authors: Bita Mashayekhi, Farzaneh Jalali, Alemeh Yazdanian

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This study contributes to identifying the corporate governance indices in previous researches by using content analysis on relevant papers published in 20 top accounting journals according to Google Scholar ranking, dated from 1990 to 2016. For this purpose, 65 papers are scrutinized deeply, and the concepts of corporate governance are coded and categorized. Then extracted indices are clustered into 10 and 51 categories and subcategories, respectively; and their frequencies are determined. Results show that the board of directors’ characteristics is employed more frequently in reviewed papers, and the board of directors’ independency is the most frequent index within the 97 percent of our sample. Duality, board size, and ownership structure have more frequencies in comparison with other extracted corporate governance indices.

Keywords: corporate governance, content analysis, corporate governance index, top accounting journals

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Authors: Abilio Pires Zacarias

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Analyzing company boards of directors is a relevant and timely topic. As the representative of shareholders, the board is the most senior management body of this type of company. Therefore, ascertaining the best kind of candidates to nominate, namely the most appropriate characteristics for leading the board to achieve better levels of performance, is certainly of great interest. The companies selected for this study were the 1,000 largest non-financial companies and the 100 largest financial companies in Portugal according to the Instituto Nacional de Estatística for 2010. The information stemmed from a questionnaire addressed to the person in charge of daily company management and then processed through STATA 17 with the multivariate analysis of variables - MANOVA. The study may correspondingly report that the vast majority of boards in the sample operate a dual leadership structure. By in terms of its prevalence, unitary leadership represents only a minority. Agency theory and stewardship theory postulate different characteristics for the ideal chairman but neither receive confirmation from our results. On the other hand, our findings do validate the behavioral theory of firms (BToF), concluding that experience is associated with organizational performance. This study is also relevant due to its analysis of companies not listed on the financial markets not only because of their weighting in the economy but also because they remain only very poorly studied in this field and thus also correspondingly contributing to deepening the literature.

Keywords: agency theory, behavioral theory of the firm, board of directors, corporate governance, stewardship theory

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Authors: Sabur Mollah, Asma Mobarek

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This study aims to explore the endogenous relationship between Shari’ah governance and board governance for Islamic banks to identify complementary or substituting relationship between these governance parameters. By using a sample of 161 Islamic Banks from 24 countries for the period of 2005-2013, we show an endogenous relationship between Shari’ah Supervisory Board (SSB) and Board of Directors (BoD). In this relationship, SSB and BoD complement each other. We also show that this complementary relationship between SSB and BoD helps enhance both management and asset quality, but mitigates capital adequacy, earnings, and liquidity in Islamic banks. The study has important implications for financial stability in the Islamic banking system.

Keywords: Shari’ah Supervisory Board, Boards of Directors, Islamic banking, financial stability

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Authors: Shital Jhunjhunwala, Shweta Saraf

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Research Question: The study, based on a survey, empirically tests the impact of the board’s engagement in the decision-making process on firm outcomes. It also examines the moderating effect of board leadership and board independence on the relationship. Research Findings: Boards’ engagement in the decision-making process is found to be vital for firm performance, wherein effective monitoring by the board outperforms their strategic guidance role in achieving desired outcomes. The separation of CEO and Chairman positively moderates the board’s engagement in protecting stakeholders’ interests, but lack of independence and passive behaviour of independent directors raises concern on the efficacy of independent directors. Theoretical Implications: The study provides the framework for process-oriented corporate governance research, where investigation of boards’ behaviour inside the boardroom develops a deeper understanding of board processes. Practitioner Implications: The study highlights the necessity of developing boards’ focus in a company on monitoring managerial actions. It suggests the need to separate the position of CEO and Chairman for addressing the interest of all stakeholders. It recommends policymakers review the existing mandate on board independence and create alternate monitoring mechanisms for addressing agency conflict.

Keywords: board, decision-making process, engagement, independence, leadership, innovation, stakeholders, firm performance, qualitative, India

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Authors: Natalia Selezneva

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The level of crime depends on a number of factors, such as political and economic instability, social inequality and ineffective legislation. A special place in the overall level of crime takes juvenile delinquency. United Nations Standard Minimum developed rules for the administration of juvenile justice (The Beijing Rules), in order to ensure the rights of juvenile offenders under the various legal systems. Most countries support these recommendations, and Russia is no exception. Russia's criminal code establishes the minimum age of criminal liability; types of crimes for which the possible involvement of minors to justice; punishment; sentencing and execution of punishment for minors. However, these provisions cause heated debates in the scientific literature. The high level of juvenile crime indicates the ineffectiveness of legal regulation of criminal liability of minors. In order to ensure compliance with international standards require new and modern approaches to improve national legislation and practice of its application. Achieving this goal will be achieved through the following tasks: 1. Create sub-branches of law regulating the legal status of minors; 2. Improving the types of penalties; 3. The possibility of using alternative measures; 4. The introduction of the procedure of extrajudicial settlement of the conflict. The criminal law of each country depends on the historical, national and cultural characteristics. The development of the Russian legislation taking into account international experience is extremely essential and will be a new stage in the formation of a legal state, especially in the sphere of protection of the rights of juvenile offenders.

Keywords: criminal law, juvenile offender, punishment, the age of criminal responsibility

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Authors: G. Bruno, A. Ciavarella, N. Linciano

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The proportion of women in boardroom has traditionally been low around the world. Over the last decades, several jurisdictions opted for active intervention, which triggered a tangible progress in female representation. In Europe, many countries have implemented boardroom diversity policies in the form of legal quotas (Norway, Italy, France, Germany) or governance code amendments (United Kingdom, Finland). Policy actions rest, among other things, on the assumption that gender balanced boards result in improved corporate governance and performance. The investigation of the relationship between female boardroom representation and firm value is therefore key on policy grounds. The evidence gathered so far, however, has not produced conclusive results also because empirical studies on the impact of voluntary female board representation had to tackle with endogeneity, due to either differences in unobservable characteristics across firms that may affect their gender policies and governance choices, or potential reverse causality. In this paper, we study the relationship between the presence of female directors and corporate performance in Italy, where the Law 120/2011 envisaging mandatory quotas has introduced an exogenous shock in board composition which may enable to overcome reverse causality. Our sample comprises Italian firms listed on the Italian Stock Exchange and the members of their board of directors over the period 2008-2016. The study relies on two different databases, both drawn from CONSOB, referring respectively to directors and companies’ characteristics. On methodological grounds, information on directors is treated at the individual level, by matching each company with its directors every year. This allows identifying all time-invariant, possibly correlated, elements of latent heterogeneity that vary across firms and board members, such as the firm immaterial assets and the directors’ skills and commitment. Moreover, we estimate dynamic panel data specifications, so accommodating non-instantaneous adjustments of firm performance and gender diversity to institutional and economic changes. In all cases, robust inference is carried out taking into account the bidimensional clustering of observations over companies and over directors. The study shows the existence of a U-shaped impact of the percentage of women in the boardroom on profitability, as measured by Return On Equity (ROE) and Return On Assets. Female representation yields a positive impact when it exceeds a certain threshold, ranging between about 18% and 21% of the board members, depending on the specification. Given the average board size, i.e., around ten members over the time period considered, this would imply that a significant effect of gender diversity on corporate performance starts to emerge when at least two women hold a seat. This evidence supports the idea underpinning the critical mass theory, i.e., the hypothesis that women may influence.

Keywords: gender diversity, quotas, firms performance, corporate governance

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Authors: Simphiwe Phungula

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In the past few years, the impact of Covid 19 in South Africa has given rise to the need for business rescue proceedings where businesses are financially distressed. Even more, the looting unrest and floods in certain parts of South Africa have also played an impact on businesses’ financial stress. To help financially distressed companies in South Africa, the Companies Act (“the Act”) has introduced a business rescue procedure aimed at helping those ailing companies. This mechanism is aimed at rehabilitating financially distressed companies so that they become solvent again and if it is not possible, results in a better return for the company’s creditors or shareholders than would result from the immediate liquidation of the company. Unfortunately, since the introduction of business rescue, evidence has shown that sometimes companies resort to business rescue proceedings to seek refuge from creditors even if the facts do not justify that the company should commence business rescue. In most cases, the abuse of business rescue is done by directors who pass a resolution that the company should embark on business rescue even if evidence shows that the company should not commence the proceedings. This is done notwithstanding the principles of King Code IV which requires ethics and good governance on the part of directors. This paper demonstrates how the abuse of business rescue can impact the principles of good governance and ethics of King Code IV. It argues that directors should rethink their corporate practices, and ethical standards when passing a resolution to commence business rescue proceedings.

Keywords: business rescue, king code, corporate governance, ethics

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Authors: Opemiposi Adegbulu

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The research investigates the existence of a public interest consideration or rationale for the management of directors’ conflicts of interest within large public corporations. This is conducted through extensive literature review and theories on the definition of conflicts of interest, the firm and purposes of the fiduciary duty of loyalty under which the management of these conflicts of interest find their foundation. Conflicts of interest is an elusive, diverse and engaging subject, a cross-cutting problem of governance which involves all levels of governance, ranging from local to global, public to corporate or financial sectors. It is a common issue that affects corporate governance and corporate culture, having a negative impact on the reputation of corporations and their trustworthiness. It is clear that addressing this issue is imperative for good governance of corporations as they are increasingly becoming and are powerful global economies with significant power and influence in the society. Similarly, the bargaining power of these powerful corporations has been recognised by international organisations such as the UN and the OECD. This is made evident by the increasing calls and push for greater responsibility of these corporations for environmental and social disasters caused by their corporate activities and their impact in various parts of the world. Equally, in the US, the Sarbanes-Oxley Act like other legislation and regulatory efforts made to manage conflicts of interest linked to corporate governance, in many countries indicates that there is a (global) public interest in the maintenance of the orderly functioning of commerce. Consequently, the governance of these corporations is tremendously pivotal to the society as it touches upon a key aspect of the good functioning of society. This is because corporations, particularly large international corporations can be said to be the plumbing of the global economy. This study will employ theoretical, doctrinal and comparative methods. The research will make use largely of theory-guided methodology and theoretical framework – theories of the firm, public interest, regulation, conflicts of interest in general, directors’ conflicts of interest and corporate governance. Although, the research is intended to be narrowed down to the topic of conflicts of interest in corporate governance, the subject of company directors’ duty of loyalty and the management of conflicts of interest, an examination of the history, origin and typology of conflicts of interest in general will be carried out in order to identify some specific challenges to understanding and identifying these conflicts of interest; origin, diverging theories, psychological barrier to definition, similarities with public sector conflicts of interest due to the notions of corrosion of trust, the effect on decision-making and judgment, “being in a particular kind of situation”, etc. The result of this research will be useful and relevant in the identification of the rationale for the management of directors’ conflicts of interest, contributing to the understanding of conflicts of interest in the private sector and the significance of public interest in corporate governance of large corporations.

Keywords: conflicts of interest, corporate governance, corporate law, directors duty of loyalty, public interest

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Authors: Data Collete Bob-Manuel

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In light of global financial crisis in 2007-2008 various factors including board diversity, succession planning and board evaluation have been identified as essential ingredients in ensuring board effectiveness. The composition and structure of the board is of outmost importance in assessing a board’s ability and success in achieving its objectives. Following the corporate frauds and accounting scandals such as Enron, WorldCom, Parmalat, Oceanic Bank Nigeria and AfriBank Nigeria, there has been a notable amount of research about the effectiveness of the board of directors in the corporate governance of firms. The need to have an effective board cannot be over emphasized as it results in a more stable and thriving company. There has been an overarching need in the business world for a more diverse workforce and board of directors. Big corporations like Texaco, Ford Motors and DuPont have stated how diversity at every level of the workforce including the board of directors has been cited as a vital element for a company to succeed. Developed countries are also seeking for companies to have a more diverse board. For instance Norway has implemented a 60:40 board ratio to all companies. In West Africa, particularly Nigeria, the topic of diversity has received little attention as most studies conducted have focused on the gender aspect of diversity, which results found to have a negative impact on firm performance. This paper seeks to examine four variables of diversity; age, ethnicity, gender and skills to weigh the positive or negative impact the variables have on firm performance, based on evidence from the Nigerian Financial sector. Information used for this study will be gathered from financial statements and annual reports so as to enable the researcher to reflect on past years to know what is being done differently today. The findings of this study will help the researcher to develop a working definition for ethnicity with regards to the West African context where the issue of “tribe” is a sensitive topic.

Keywords: Board of Directors, Board Diversity, Firm Performance, Nigeria

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Authors: Dorota Habrat

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In Polish law, the idea of the introduction of corporate responsibility for crimes is becoming more popular and creates a lot of questions. The need to introduce into the Polish legal system liability of corporate (collective entities) has resulted, among others, from the Polish Republic's international commitments, in particular related to membership in the European Union. The Act of 28 October 2002 on the liability of collective entities for acts prohibited under penalty is one of the example of adaptation of Polish law to Community law. Introduction to Polish law a criminal nature liability of corporations (legal persons) has resulted in a lot of controversy and lack of acceptance from both the scientific community as well as the judiciary. The responsibility of collective entities under the Act has a criminal nature. The main question concerns the ability of the collective entity to be brought to guilt under criminal law sense. Polish criminal law knows only the responsibility of individual persons. So far, guilt as a personal feature of action, based on the ability of the offender to feel in his psyche, could be considered only in relation to the individual person, while the said Act destroyed this conviction. Guilt of collective entity must be proven under at least one of the three possible forms: the guilt in the selection or supervision and so called organizational guilt. The next question is how the principle of proportionality in relation to criminal measures in response of collective entities should be considered. It should be remembered that the legal subjectivity of collective entities, including their rights and freedoms, is an emanation of the rights and freedoms of individual persons which create collective entities and through these entities implement their rights and freedoms. The adopted Act largely reflects the international legal regulations but also contains the unknown and original legislative solutions.

Keywords: criminal corporate responsibility, Polish criminal law, legislative solutions, Act of 28 October 2002

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Authors: Mina Youssef Makram Ibrahim

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Engineering identity contributes to the professional and academic sustainability of female engineers. Recognizability is an important factor that shapes an engineer's identity. People who are deprived of real recognition often fail to create a positive identity. This study draws on Hornet’s recognition theory to identify factors that influence female civil engineers' sense of recognition. Over the past decade, a survey was created and distributed to 330 graduate students in the Department of Civil, Civil and Environmental Engineering at Iowa State University. Survey items include demographics, perceptions of a civil engineer's identity, and factors that influence recognition of a civil engineer's identity, such as B. Opinions about society and family. Descriptive analysis of survey responses revealed that perceptions of civil engineering varied significantly. The definitions of civil engineering provided by participants included the terms structure, design and infrastructure. Almost half of the participants said the main reason for studying Civil Engineering was their interest in the subject, and the majority said they were proud to be a civil engineer. Many study participants reported that their parents viewed them as civil engineers. Institutional and operational treatment was also found to have a significant impact on the recognition of women civil engineers. Almost half of the participants reported feeling isolated or ignored at work because of their gender. This research highlights the importance of recognition in developing the identity of women engineers.

Keywords: civil service, hiring, merit, policing civil engineering, construction, surveying, mapping, pile civil service, Kazakhstan, modernization, a national model of civil service, civil service reforms, bureaucracy civil engineering, gender, identity, recognition

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Authors: Olivia Rybak-Karkosz

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Art forgery is a serious problem present in the art market in every country despite its scale and experience. In the Polish art market, this problem has existed since its beginnings. The market expansion in recent years attracted new buyers, which led to growing prices of polish art. And that attracted deceitful sellers who supply the market with forgeries. Moreover, there are many new types of buyers, many of whom are art non-specialists. But even the most experienced collectors must be cautious when purchasing a piece of art. In this paper, the author would like to discuss legal acts in Polish law that criminalize the forgery of a piece of art and compare them with similar regulations from four European countries - the Italian Republic, Kingdom of the Netherlands, French Republic, and the Federal Republic of Germany. The author wants to verify if any solutions could inspire Polish legislators to implement them in domestic law to help reduce this crime and improve the criminal procedure of art forgery. The paper contains a concluding statement to implement a similar solution used in one of the presented countries.

Keywords: art forgery, comparative law, criminal law, criminal liability, protection of works of art

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Authors: Anant Deogaonkar, Archana Nanoty

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The term civil service plays a vital role in functioning of any government. In today’s modern era of globalization civil services essentially contribute for the success of the good governance system. The civil service in India refers to the body of government officials employed in civil occupations that are neither political nor judicial. The Indian Civil Services were created to foster the idea of unity in diversity with the expectation of giving continuity and change in administration independent of the political scenario and turmoil affecting the country. The civil service is an integral part of administration and the structures of administration to determine the way civil service functions. The concept of good governance necessarily precludes the effective human resource management ensuring the root level reach of the good governance. The serious matter of concern is the element of change. The civil service in general has maintained status quo instead of sweeping changes in social and economic scenario. One may disagree for this but it is a fact on the street that the Indian civil service was not able to deliver up to the expectations of the people and was lacking on the service front. The effective management of human resources at civil service needs to be prioritized and will form a key factor in successful delivery of the desired results may be in minimum duration. This paper focuses on the various ways of effective management of human resources in civil services. It also highlights the importance of improvement in human resource management in civil services with the detailed discussion of positives and negatives if any of the human resource management in civil services.

Keywords: civil services, human resources management, India, governance

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Authors: Hasan Sungur, Evrim Baran, Benjamin Ahn, Aliye Karabulut Ilgu, Chris Rehmann, Cassandra Rutherford

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Engineering identity contributes to the professional and educational persistence of women engineers. A crucial factor contributing to the development of the engineering identity is recognition. Those without adequate recognition often do not succeed in positively building their identities. This research draws on Honneth’s recognition theory to identify factors impacting women civil engineers’ feelings of recognition as civil engineers. A survey was composed and distributed to 330 female alumni who graduated from the Department of Civil, Construction, and Environmental Engineering at Iowa State University in the last ten years. The survey items include demographics, perceptions of the identity of civil engineering, and factors that influence the recognition of civil engineering identities, such as views of society and family. Descriptive analysis of the survey responses revealed that the perceptions of civil engineering varied widely. Participants’ definitions of civil engineering included the terms: construction, design, and infrastructure. Almost half of the participants reported that the major reason to study civil engineering was their interest in the subject matter, and most reported that they were proud to be civil engineers. Many study participants reported that their parents see them as civil engineers. Treatment of institutions and the workplace were also considered as having a significant impact on the recognition of women civil engineers. Almost half of the participants reported that they felt isolated or ignored at work because of their gender. This research emphasizes the importance of recognition for the development of the civil engineering identity of women

Keywords: civil engineering, gender, identity, recognition

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Authors: Mojtaba Eshraghi Arani

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The freight forwarders, who are known as the Architect of Transportation, play a vital role in the supply chain management. The package of various services which they provide has made the legal nature of freight forwarders very controversial, so that they might be qualified once as principal or carrier and, on other occasions, as agent of the shipper as the case may be. They could even be involved in the transportation process as the agent of shipping line, which makes the situation much more complicated. The courts in all countries have long had trouble in distinguishing the “forwarder as agent” from “forwarder as principal” (as it is outstanding in the prominent case of “Vastfame Camera Ltd v Birkart Globistics Ltd And Others” 2005, Hong Kong). It is not fully known that in the case of a claim against the forwarder, what particular parameter would be used by the judge among multiple, and sometimes contradictory, tests for determining the scope of the forwarder liability. In particular, every country has its own legal parameters for qualifying the freight forwarders that is completely different from others, as it is the case in France in comparison with Germany and England. The unpredictability of the courts’ decisions in this regard has provided the freight forwarders with the opportunity to impose any limitation or exception of liability while pretending to play the role of a principal, consequently making the cargo interests incur ever-increasing damage. The transportation industry needs to remove such uncertainty by unifying national laws governing freight forwarders liability. A long time ago, in 1967, The International Institute for Unification of Private Law (UNIDROIT) prepared a draft convention called “Draft Convention on Contract of Agency for Forwarding Agents Relating to International Carriage of Goods” (hereinafter called “UNIDROIT draft convention”). The UNIDROIT draft convention provided a clear and certain framework for the liability of freight forwarder in each capacity as agent or carrier, but it failed to transform to a convention, and eventually, it was consigned to oblivion. Today, after nearly 6 decades from that era, the necessity of such convention can be felt apparently. However, one might reason that the same grounds, in particular, the resistance by forwarders’ association, FIATA, exist yet, and thus it is not logical to revive a forgotten draft convention after such long period of time. It is argued in this article that the main reason for resisting the UNIDROIT draft convention in the past was pending efforts for developing the “1980 United Nation Convention on International Multimodal Transport of Goods”. However, the latter convention failed to become in force on due time in a way that there was no new accession since 1996, as a result of which the UNIDROIT draft convention must be revived strongly and immediately submitted to the relevant diplomatic conference. A qualitative method with the concept of interpretation of data collection has been used in this manuscript. The source of the data is the analysis of international conventions and cases.

Keywords: freight forwarder, revival, agent, principal, uidroit, draft convention

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Authors: Gladie Lui

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The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence.

Keywords: board of directors, capital market, corporate governance, financial crisis

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Authors: Vithaya Intaraphimol

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This research investigates the effect of financial accounting information and non-financial accounting reports on corporate credibility via strength of board of directors and market environment volatility as moderating effect. Data in this research is collected by questionnaire form non-financial companies listed on the Stock Exchange of Thailand. Multiple regression statistic technique is chosen for analyzing the data. The empirical results find that firms with greater financial accounting information reports and non-financial accounting information reports will gain greater corporate credibility. Therefore, the corporate reporting has the value for the firms. Moreover, the strength of board of directors will positively moderate the financial and non-financial accounting information reports and corporate credibility relationship. Whereas, market environment volatility will negatively moderate the financial and nonfinancial accounting information reports and corporate credibility relationship.

Keywords: corporate credibility, financial and non-financial reports, firms performance, economics

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Authors: Edoghogho Ogbeifun, Charles Mbohwa, J. H. C. Pretorius

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Several research report on the factors responsible for the delays in the completion of construction projects has identified the issue of funding as a critical factor; insufficient funding, low cash-flow or lack of funds. Indeed, adequate funding plays pivotal role in the effective execution of construction projects. In the last twenty years (or so), there has been increase in the funds available for infrastructure development in tertiary institution in Nigeria, especially, through the Tertiary Education Trust Fund. This funding body ensures that there is enough fund for each approved project, which is released in three stages during the life of the construction project. However, a random tour of many of the institutions reveals striking evidence of projects not delivered on schedule, to quality and sometime out rightly abandoned. This suggests, therefore, that there are other latent factors, responsible for project delays, that should be investigated. Thus, this research, a pilot scheme, is aimed at unearthing the possible reasons for the delays being experienced in the execution of construction projects for infrastructure upgrade in public tertiary institutions in Nigeria, funded by Tertiary Education Trust Fund. The multiple site case study of qualitative research was adopted. The respondents were the Directors of Physical Planning and the Directors of Works of four Nigerian Public Universities. The findings reveal that delays can be situated within three entities, namely, the funding body, the institutions and others. Therefore, the emerging factors have been classified as external factors (haven to do with the funding body), internal factors (these concern the operations within the institutions) and general factors. The outcome of this pilot exercise provides useful information to guide the Directors as they interact with the funding body as well as challenges themselves to address the loopholes in their internal operations.

Keywords: delays, external factors, funding, general factors, Internal factors

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Authors: A. Edwards

Abstract:

The civil service was created to reform the hiring process for public officials, changing the patronage system to a merit-based system. Though exam reforms continued throughout the 20th century, there have been few during the 21st century, particularly in New York state. In the case of police departments, the civil service exam has acted as a hindrance to its ‘21st Century Policing’ goals and new exam reform efforts have left out officers voices and concerns. Through in-depth interviews of current and retired police officers and local and state civil service administrators in Albany County in New York, this study seeks to understand police influence and insight regarding the civil service exam, placing some of the voice and input for civil service reform on police departments, instead of local and state bureaucrats. The study also looks at the relationship between civil service administrators and police departments. Using practice theory, the study seeks to understand the ways in which the civil service exam was defined in the 20th century and how it is out of step with current thinking while examining possible changes to the civil service exam that would lead to a more equitable hiring process and successful police departments.

Keywords: civil service, hiring, merit, policing

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Authors: Nefi Aris Ambar Asmara

Abstract:

This paper discusses gender equality and career opportunities among female civil servants for better public services in a regency in West Java, Indonesia. Those two areas have not been considered comprehensively in terms of the goals of gender equality and career opportunities. The purposes of this paper are to describe (1) the number of available positions in relation to the number of female civil servants, (2) the socio-cultural outlook on female civil servants in relation to gender equality and career opportunities, and (3) socio-cultural views on gender equality and a career in politics. To achieve these three objectives, this paper used a qualitative approach with survey and interview techniques. The results showed that (1) only 37% of the official positions were presided by female civil servants. In contrast, male civil servants occupy 63% of the available positions, (2) the sociocultural view of female civil servants affirms that they are still regarded as male companions; (3) in addition, female civil servants do not need to compete with gender opponents, including the fact that women enter politics because the political world is considered dirty for women.

Keywords: gender equality, career opportunities, female civil servants, Indonesia

Procedia PDF Downloads 124

Authors: Nefi Aris Ambar Asmara

Abstract:

This paper discusses gender equality and career opportunities among female civil servants for better public services in a regency in West Java, Indonesia. Those two areas have not been considered comprehensively in terms of the goals of gender equality and career opportunities. The purposes of this paper are to describe (1) the number of available positions in relation to the number of female civil servants, (2) the socio-cultural outlook on female civil servants in relation to gender equality and career opportunities and (3) socio-cultural views on gender equality and a career in politics. To achieve these three objectives, this paper used a qualitative approach with survey and interview techniques. The results showed that (1) only 37% of the official positions were presided by female civil servants. In contrast, male civil servants occupy 63% of the available positions, (2) the sociocultural view of female civil servants affirms that they are still regarded as male companions; (3) in addition, female civil servants do not need to compete with gender opponents, including the fact that women enter politics because the political world is considered dirty for women.

Keywords: gender equality, career opportunities, female civil servants, indonesia

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Authors: Chin Pang Lei

Abstract:

Colonized by the UK, handed over to China, and now as a global financial city, Hong Kong’s history is never easy to write under the dominant discourses of colonialism, nationalism and globalization. In this plight, cinema, regarded as Hong Kong’s most representative cultural form, is used for writing, exploring and questioning the local history of the city. In their writing of the past, Hong Kong directors such as Wong Kar-wai, Stanley Kwan and Tsui Hark have demonstrated alternative ways of historicizing Hong Kong. Despite their interests in different periods of time (Wong is obsessed with the 1960s; Kwan is attracted to the 1930s; Tsui often goes back to the early 20th century), all these directors use genres as their time machines to revisit the past. As a popular cultural form, genres always come with a series of ideologies which define our lives and explain the society. Hence, in a changing society, genres change and complicate themselves with different packages of meanings. Genres function as open-ended and corrigible schemata which can contain multiple themes and various meanings. In Hong Kong, genres, often seen as highly commercial and overly market-oriented, are opportunities for alternative history writing and the exploration of local identities. This paper examines how these Hong Kong directors use the popular forms of genres, such as melodrama, martial art and gangster films, to present the past, and how the stories of the fictional characters, such as prostitutes, martial artists and jobless hooligans mobilize imagination of history. These texts show that genre is a crucial platform for Hong Kong’s post-colonial self-writing. Via genres, history in these films is against official and canonical history as well as grand narrative. Genres as time machines articulate a voice for Hong Kong.

Keywords: Hong Kong cinema, genre, historicizing, local history, Wong Kar-Wai

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Authors: Michael McCann

Abstract:

Managerial theories propose that, in joint stock companies, executives may be tempted to waste excess free cash on unprofitable projects to keep control of resources. In order to conceal their projects' poor performance, they may seek to engage in earnings management. On the one hand, managers may manipulate earnings upwards in order to post ‘good’ performances and safeguard their position. On the other, since managers pursuit of unrewarding investments are likely to lead to low long-term profitability, managers will use negative accruals to reduce current year’s earnings, smoothing earnings over time in order to conceal the negative effects. Agency models argue that boards of directors are delegated by shareholders to ensure that companies are governed properly. Part of that responsibility is ensuring the reliability of financial information. Analyses of the impact of board characteristics, particularly board independence on the misuse of free cash flow and earnings management finds conflicting evidence. However, existing characterizations of board independence do not account for such directors gaining firm-specific knowledge over time, influencing their monitoring ability. Further, there is little analysis of the influence of the relative experience of independent directors and executives on decisions surrounding the use of free cash. This paper contributes to this literature regarding the heterogeneous characteristics of boards by investigating the influence of independent director tenure on earnings management and the relative tenures of independent directors and Chief Executives. A balanced panel dataset comprising 51 companies across 11 annual periods from 2005 to 2015 is used for the analysis. In each annual period, firms were classified as conducting earnings management if they had discretionary accruals in the bottom quartile (downwards) and top quartile (upwards) of the distributed values for the sample. Logistical regressions were conducted to determine the marginal impact of independent board tenure and a number of control variables on the probability of conducting earnings management. The findings indicate that both absolute and relative measures of board independence and experience do not have a significant impact on the likelihood of earnings management. It is the level of free cash flow which is the major influence on the probability of earnings management. Higher free cash flow increases the probability of earnings management significantly. The research also investigates whether board monitoring of earnings management is contingent on the level of free cash flow. However, the results suggest that board monitoring is not amplified when free cash flow is higher. This suggests that the extent of earnings management in companies is determined by a range of company, industry and situation-specific factors.

Keywords: corporate governance, boards of directors, agency theory, earnings management

Procedia PDF Downloads 211