Search results for: forest governance

Authors: Lien T. H. Tran, David A. Holloway

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Corporate governance practices have changed significantly across the world in the past three decades. Spectacular corporate failures during this period have acted as a catalyst for the development of codes and guidelines that have resulted in the global acceptance of a ‘best practice’ model. This study assesses the relevance of such a ‘one size fits all model’ for the developing nation state of Vietnam. The findings of this analytical paper is that there are three key elements (government, international institutions and the nature of business) that are pertinent and central to corporate governance developments in the country. We also find that the quality of corporate governance in Vietnam is at a medium level when compared to international practices. Vietnam still has a long way to go to construct and embed effective corporate governance policies and practices and promote ethical business behaviours and sound decision making at board level.

Keywords: corporate governance, government, international institutions, public companies, Vietnam

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Authors: H. S. Kumara

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The rapid process of urbanization and the growing number of the metropolitan cities and its region call for better governance in India. This article attempts to argue that spatial planning really matters for measuring the governance at metropolitan scale. These study explore to metropolitan governance and spatial planning and its interrelationship issues, concepts and evolution of spatial planning in India and critically examines the multi actors’ scenario for measuring metropolitan governance by means of spatial planning in context with reviewing various master plans, concept of multi-actors viewpoint on role of spatial planning related to zoning regulations, master plan implementations and effective service delivery issues. This paper argues and concludes that the spatial planning of Bangalore directly impact on measuring metropolitan governance.

Keywords: metropolitan governance, spatial planning, service delivery, multi-actors’, opinion survey, master plan

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Authors: Fiona Lord

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This paper presents research on strengthening urban governance and planning practices for sustainable and regenerative city transformations looking at urban governance in Cambodia as a case study. Transformations to urban sustainability and regeneration require systemic and long-term transformation processes, across multiple levels of society and inclusive of multiple urban actors. This paper presents the emerging findings of a qualitative case study comparing the urban governance and planning practices in two of Cambodia's secondary cities - Battambang and Sihanoukville. The lessons learned have broader implications for how governance and planning can be strengthened to initiate and sustain urban sustainability transformations in other developing country cities of Cambodia and the Southeast Asia region.

Keywords: Cambodia, planning practices, urban governance, urban sustainability transformations

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Authors: Sri Wartini

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Based on the sovereignty over natural resources principle, the Indonesian government has an authority to exploit the natural resources within a national jurisdiction of Indonesia. The forest is one of the natural resources which is very valuable for Indonesia. It becomes the source of raw material for many industrial activities, such as pharmaceutical industry, pulp industry, and household furniture industry. Hence, it contributes to the economic development of Indonesia. However, the exploitation of the forest may cause negative impacts, such as environmental pollution and environmental degradation. The implementation of the sovereignty over natural resources principle in Indonesia may jeopardize the forest and affect the sustainability of the forest if there is no appropriate policy of the government to exploit the forest in a sustainable manner. The exploitation of the forest in Indonesia, in some extent, has caused serious impact to environment and biodiversity. Hence, in order to sustain and to maintain the forest as the valuable resources to the future generation, the government of Indonesia has already adopted many programmes and action plans. The aim of the research is to undertake a critical examination of the issues relating to the the implementation of sovereignty over natural resources to the exploitation of the forest in Indonesia. It is a normative research and the methodology employed in this research is library research. While the approaches employed in the research are conceptual approach., statutory approach, and comparative approach. The research finds that the implementation of sovereignty over natural resources principle in the exploitation of the forest in Indonesia is limited by other principles of international environmental law, such as sustainable development principle, intergenerational principle and common concern principle which have been adopted in the government policy and various regulations regarding the exploitation of the forest in Indonesia.

Keywords: Environmental damage, negative impacts, pollution, the sovereignty over natural resources

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Authors: Christoph Köster

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Supplier selection is one of the key challenges in supply chain management and can be considered a multi-criteria decision-making (MCDM) problem. In the 1960s, it evolved from considering only economic criteria, such as price, quality, and performance, to including environmental and social criteria nowadays. Although receiving considerable attention from scholars and practitioners over the past decades, existing research has not considered governance criteria so far. This is, however, surprising, as ESG (environmental, social, and governance) criteria have gained considerable attention. In order to complement ESG criteria in the supplier selection process, this study investigates German DAX and MDAX companies and evaluates the impact of governance criteria along their supplier selection process. Moreover, it proposes a set of criteria for the respective process steps. Specifically, eleven criteria for the first process step and five criteria for the second process step are identified. This paper contributes to a better understanding of the supplier selection process by elucidating the relevance of governance criteria in the supplier selection process and providing a set of empirically developed governance criteria. These results can be applied by practitioners to complement the criteria set in the supplier selection process and thus balance economic, environmental, social, and governance targets.

Keywords: ESG, governance, sustainable supplier selection, sustainability

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Authors: Vishwa Nath Maurya, Rama Shanker Sharma, Saad Talib Hasson Aljebori, Avadhesh Kumar Maurya, Diwinder Kaur Arora

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Present paper deals with problems of determining the relationship between the variables of corporate governance and financial performance of Islamic banks. Here, we dealt with the corporate governance in the banking sector, where increasing the importance of corporate governance, due to their special nature, as the bankruptcy of banks affects not only the relevant parties from customers, depositors and lenders, but also affect financial stability and then the economy as a whole. Through this paper we dealt to the specificity of governance in Islamic banks, which face double governance: Anglo-Saxon governance system and Islamic governance system. In addition, we focused our attention to measure the impact of corporate governance variables on financial performance through an empirical study on a sample of Islamic banks during the period 2005-2012 in the GCC region. Our present study implies that there is a very strong relationship between the variables of governance and financial performance of Islamic banks, where there is a positive relationship between return on assets and the composition of the Board of Directors, the size of the Board of Directors, the number of committees in the Council, as well as the number of members of the Sharia Supervisory Board, while it is clear that there is a negative relationship between return on assets and concentration ownership.

Keywords: correlation analysis, parametric estimation, corporate governance, financial performance, financial stability, conventional banks, bankruptcy, Islamic governance system

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Authors: Agustin Baidez, Yolanda Ramirez

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There is currently a growing interest in the improvement of university governance and the disclosure of information on governance processes as an essential part of the transparency and accountability of universities. This paper aims to examine the extent and quality of voluntary corporate governance disclosure by public Spanish universities on their websites in relation to information need of stakeholders. The results of this study show that Spanish university stakeholders attach great importance to the disclosure of specific information on aspects of corporate governance. However, the quality of disclosed information on university governance in public Spanish universities websites is in the middle level. In order to satisfy the information needs of university stakeholders, Spanish universities can be recommended to focus on reporting higher quality information on university autonomy in financing, autonomy in management, autonomy regarding student selection and assessment, degree of consanguinity of executive directors, report on assigned public funding based on results, and management reports.

Keywords: university, governance, transparency, stakeholders

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Authors: Janece Jean A. Polizon, Victor B. Amoroso

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Mt. Hamiguitan Range in Davao Oriental, Mindanao Island, Philippines is the only protected area with pygmy forest and a priority site for protection and conservation. This range harbors different vegetation types such as agroecosystem, dipterocarp forest, montane forest and mossy forest. This study was conducted to determine the diversity of trees and shrubs in different vegetation types of Mt. Hamiguitan Range. Transect walk and 16 sampling plots of 20 x 20 m were established in the different vegetation types. Specimens collected were classified and identified using the Flora Malesiana and type images. Assessment of status was determined based on International Union for the Conservation of Nature (IUCN). There were 223 species of trees, 141 genera and 71 families. Of the vegetation types, the pygmy forest obtained a comparatively high diversity value of H=1.348 followed by montane forest with H=1.284. The high species importance value (SIV) of Diospyros philippinensis for trees indicates that these species have an important role in regulating the stability of the ecosystem. The tree profile of the pygmy forest is different due to the ultramafic substrate causing the dwarfness of the trees. These forest types should be given high priority for protection and conservation.

Keywords: diversity, Mt Hamiguitan, vegetation, trees, shrubs

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Authors: Chiung-Ju Huang

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This study utilizes a frequency domain approach over the period of 1996 to 2013 to examine the causal relationship between governance and economic growth in ten Asian countries, which have different levels of democracy; classified as “Free”, “Partly Free”, and “Not Free” countries. The empirical results show that there is no Granger causality running from governance to economic growth in “Not Free” countries and “Partly Free” countries with the exception of Singapore. As for “Free” countries such as South Korea and Taiwan, there is a one-way causality running from governance to economic growth. The findings of this study indicate that policy makers in South Korea, Taiwan, and Singapore could use governance index to improve their predictions of the future economic growth.

Keywords: economic growth, frequency domain, governance, granger causality

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Authors: Raif Parlakkaya, Ahmet Diken, Erkan Kara

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This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards.

Keywords: corporate governance, stock price, performance, panel data analysis

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Authors: Peter Oyelere, Fernando Zanella

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Corporate governance is one of the most discussed and researched issues in recent times in countries around the world, with different countries developing and adopting different governance structures, models and mechanisms. While the Codes of corporate governance have been weaved into the regulatory fabrics of most countries, it is equally critically important that their mechanisms, procedures and practices be transparent, and be transparently communicated to all stakeholders. The Internet can be a very useful and cost-effective tool for the timely and voluntary communication of corporate governance matters to stakeholders. The current paper details the results of an investigation on the extent of which companies listed in the UAE are using the Internet for communicating corporate governance issues, matters and procedures. We surveyed the websites of companies listed on the two UAE Stock Exchanges – the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM) – to find out their level and nature of usage of the Internet for corporate governance disclosures. Regulatory and policy implications of the results of our investigation, as well as other areas for further studies, are also presented in the paper.

Keywords: corporate governance, internet financial reporting, regulation, transparency, United Arab Emirates

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Authors: Saurav Kumar Suman, P. Karthigayani

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In this paper the height of the tree is estimated and forest types is classified from the multi temporal RISAT-1 Horizontal-Horizontal (HH) and Horizontal-Vertical (HV) Polarised Satellite Aperture Radar (SAR) data. The novelty of the proposed project is combined use of the Back-scattering Coefficients (Sigma Naught) and the Coherence. It uses Water Cloud Model (WCM). The approaches use two main steps. (a) Extraction of the different forest parameter data from the Product.xml, BAND-META file and from Grid-xxx.txt file come with the HH & HV polarized data from the ISRO (Indian Space Research Centre). These file contains the required parameter during height estimation. (b) Calculation of the Vegetation and Ground Backscattering, Coherence and other Forest Parameters. (c) Classification of Forest Types using the ENVI 5.0 Tool and ROI (Region of Interest) calculation.

Keywords: RISAT-1, classification, forest, SAR data

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Authors: Mohd Zaki Hamzah, Roslan Rani, Ahmad Bazli Razali, Satiful Bahri Mamat, Abdul Hadi Ripin, Mohd Harun Esa

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Ever since 1901, forest management and silviculture practices in Malaysia have been frequently reviewed and updated to take into account changes in forest conditions, markets, timber demand/supply and technical advances that can be achieved in industrial processes, logging and forest harvesting, and currently, the forest management system practiced in Peninsular Malaysia is the Selective Management System (SMS) which was introduced in 1978. This system requires the selection of management regime (felling) based on Pre-Felling Forest Inventory (Pre-F) data to ensure economical harvesting and also ensuring adequate standing stands for subsequent rounds of felling, while maintaining ecological balance and environmental quality. SMS regulates forest harvesting through area and volume controls, with the cutting cycle 30 years. Most of the forest management units (FMU) (in Peninsular Malaysia) implementing SMS have been certified by Forest Stewardship Council (FSC) and/or Program for Endorsement of Forest Certification (PEFC), and one such FMU belongs to Kumpulan Pengurusan Kayu Kayan Terengganu (KPKKT). KPKKT, a timber management subsidiary of Golden Pharos Berhad (GPB), adopts the SMS to manage its 108,900 ha of timber concessionary areas in its role as logs’ supplier for the consumption of three subsidiaries of GPB. KPKKT is also responsible for the sustainable development and management of its concession in accordance with the Sustainable Forest Management (SFM) standards to ensure that it addresses the loss of forest cover and forest degradation, forest-based economic, social and environmental benefits, and ecologically protecting forests while mobilising financial resources for the implementation of sustainable forest management planning, harvesting, monitoring and the marketing of products. This paper will detail out the management and harvesting guidelines imposed by the controlling government agency, and harvesting processes taken by KPKKT to comply with guidelines and eventually supplying timber to the relevant subsidiaries (downstream mills under GPB).

Keywords: sustainable forest management, silviculture, reduce impact logging, forest certification

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Authors: Franklin Nakpodia, Femi Olan

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A blend of internal factors (firm performance, internal stakeholders) and external pressures (globalisation, technology, corporate scandals) have intensified calls for corporate governance reforms. While several countries and their governments have responded to these calls, the effect of such reforms on corporate governance systems across countries remains mixed. In particular, the literature reports that the effectiveness of corporate governance interventions in many developing economies is limited. Relying on the corporate governance system in Africa’s largest economy (Nigeria), this research addresses two issues. First, this study explores why previous corporate governance reforms have failed and second, the article investigates what reforms could improve corporate governance practices in the country. In addressing the above objectives, this study adopts a qualitative approach that permits data collection via semi-structured interviews with 21 corporate executives. The data supports the articulation of two sequential levels of reforms (i.e., the upstream and downstream reforms). The upstream reforms focus on two crucial but often overlooked areas that undermine reform effectiveness, i.e., the extent of government commitment and an enabling environment. The downstream reforms combine awareness and regulatory elements to proffer a path to robust corporate governance in the country. Furthermore, findings from this study stress the need to consider the use of a bottom-up approach to corporate governance practice and policymaking in place of the dominant top-down strategy.

Keywords: bottom-up approach, corporate governance, reforms, regulation

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Authors: Ehsan Daryadel, Hamid Shakeri

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Good governance is considered as one of the necessary prerequisites for promotion of sustainable development programs in countries. Theoretical model of good governance is going to form the best methods for administration and management of subject country. The importance of maintaining the balance between the needs of present and future generation through sustainable development caused a change in method of management and providing service for citizens that is addressed as the most efficient and effective way of administration of countries. This method is based on democratic and equal-seeking sustainable development which is trying to affect all actors in this area and also be accountable to all citizens’ needs. Meanwhile, it should be noted that good governance is a prerequisite for sustainable development. In fact, good governance means impact of all actors on administration and management of the country for fulfilling public services, general needs of citizens and establishing a balance and harmony between needs of present and future generation. In the present study, efforts have been made to present concepts, definitions, purposes and indices of good governance with a descriptive-analytical method.

Keywords: accountability, efficiency and effectiveness, good governance, rule of law, transparency

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Authors: A. J. Julius, E. Imoagene, O. A. Ganiyu

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The purpose of this study is to estimate the economic value of the services and functions rendered by the forest landscape using a conditional logit model. For this study, attributes and levels of forest landscape were chosen; specifically, attributes include topographical forest type, forest type, forest density, recreational factor (side trip, accessibility of valley), and willingness to participate (WTP). Based on these factors, 48 choices sets with balanced and orthogonal form using statistical analysis system (SAS) 9.1 was adopted. The efficiency of the questionnaire was 6.02 (D-Error. 0.1), and choice set and socio-economic variables were analyzed. To reduce the cognitive load of respondents, the 48 choice sets were divided into 4 types in the questionnaire, so that respondents could respond to 12 choice sets, respectively. The study populations were citizens from seven metropolitan cities including Ibadan, Ilorin, Osogbo, etc. and annual WTP per household was asked by using the interview questionnaire, a total of 267 copies were recovered. As a result, Oshogbo had 0.45, and the statistical similarities could not be found except for urban forests, forest density, recreational factor, and level of WTP. Average annual WTP per household for forest landscape was 104,758 Naira (Nigerian currency) based on the outcome from this model, total economic value of the services and functions enjoyed from Nigerian forest landscape has reached approximately 1.6 trillion Naira.

Keywords: economic valuation, urban cities, services, forest landscape, logit model, nigeria

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Authors: Azeez O. Ganiyu

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Climate change is expected to lead to substantial changes in rainfall patterns in southwest Nigeria, and this may have substantial consequence for forest management and for conservation outcomes throughout the region. We examine three different forest types across an environmental spectrum from semi-arid to humid subtropical and consider their response to water shortages and other environmental stresses; we also explore the potential consequence for conservation and timber production by considering impacts on forest structure and limiting stand density. Analysis of a series of scenarios provides the basis for a critique of existing management practices and suggests practical alternatives to develop resilient forests with minimal diminution of production and environmental services. We specifically discuss practical silviculture interventions that are feasible at the landscape-scale, that are economically viable, and that have the potential to enhance resilience of forest stands. We also discuss incentives to encourage adoption of these approaches by private forest owners. We draw on these case studies in southwestern Nigeria to offer generic principle to assist forest researchers and managers faced with similar challenges elsewhere.

Keywords: climate change, forest, future, silviculture, Nigeria

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Authors: Pawas Suren

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The conflict between livelihood and forest protection has been a perpetual phenomenon in India. In the era of climate change, the problem is expected to aggravate the declining trend of dense forest in the country, creating impediments in the climate change adaptation by the forest dependent communities. In order to access the complexity of the problem, Hazarinagh and Chatra districts of Jharkhand were selected as a case study. To identify norms practiced by the communities to manage community forestry, the ethnographic study was designed to understand the values, traditions, and cultures of forest dependent communities, most of whom were tribal. It was observed that internalization of efficient forest norms is reflected in the pride and honor of such behavior while violators are sanctioned through guilt and shame. The study analyzes the effect of norms being practiced in the management and ecology of community forestry as common property resource. The light of the findings led towards the gaps in the prevalent forest laws to address efficient allocation of property rights. The conclusion embarks on reconsidering accepted factors of forest degradation in India.

Keywords: climate change, common property resource, community forestry, norms

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Authors: Rubab Zafar Kahlon, Ibtisam Butt

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Forest resources are deteriorating and experiencing decline around the globe due to unsustainable use and over exploitation. The present study was an attempt to determine the relationship between human activities, forest resource utilization, extraction methods and practices of forest resource exploitation in the district Jhelum of Pakistan. For this purpose, primary sources of data were used which were collected from 8 villages through structured questionnaire and tabulated in Microsoft Excel 365 and SPSS 22 was used for multiple linear regression analysis. The results revealed that farming, wood cutting, animal husbandry and agro-forestry were the major occupations in the study area. Most commonly used resources included timber 26%, fuelwood 25% and fodder 19%. Methods used for resource extraction included gathering 49%, plucking 34% trapping 11% and cutting 6%. Population growth, increased demand of fuelwood and land conversion were the main reasons behind forest degradation. Results for multiple linear regression revealed that Forest based activities, sources of energy production, methods used for wood harvesting and resource extraction and use of fuelwood for energy production contributed significantly towards extensive forest resource exploitation with p value <0.5 within the study area. The study suggests that effective measures should be taken by forest department to control the unsustainable use of forest resources by stringent management interventions and awareness campaigns in Jhelum district.

Keywords: forest resource, biodiversity, expliotation, human activities

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Authors: Mohd Mudasir Shafi, Zafrul Hasan, Talat Saleem

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Information and communication Technology (ICT) services have been defined as a route to good governance. Introduction of ICT into Governance has given rise to the idea of e-governance which helps in enhancing transparency, generating accountability and responsiveness in the system in order to provide faster and quality service to the citizen. Advancement in ICT has provided governments all over the world to speed up the delivery of information and services to citizens and businesses and increase their participation in governance. There has been varying degree of success over the past decade into providing services to the citizens using internet and different web services. These e-government initiatives have been extensively researched. Our research is aimed at the transition from electronic government to mobile government (m-government) initiatives implementing the mobile services and concerned to understand the major factors which will aid to adoption and distribution of these services. There must be some amount of research done in the integration process between e-government and m-government. There must also be enough amount of investigation done all the factors that could affect the transition process. Such factors differ between different places and the advancement in information and technology available there. In this paper, we have discussed why mobile communication system can be used for effective e-governance and the areas where m-governance can be implemented. The paper will examine some of the reasons as well as the main opportunities for improving effective governance through mobile phones.

Keywords: e-governance, mobile phones, information technology, m-government

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Authors: Reginald Chikere Keke

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This paper examined leadership failure consequent on endemic corruption as being the bane of good governance in Nigeria since independence in 1960 and the way forward. Nigeria is lavishly gifted by nature of abundance in human and material resources to be harnessed a strategic, resolute, ingenious, and inventive leadership. For leadership to drive sustainable growth in society, it must be rooted in the cultural values of the people. This, however, is contrary in Nigeria owing to unscrupulous leadership miscarriage, corruption, and bad governance. Using the eclectic approach, the paper scrutinizes the issues of leadership, corruption, and governance to clearly show how bad leadership and governance have destroyed the national fabric and the way out of Nigeria's development quack mire. Furthermore, this paper examined the perplexing nature of corruption in Nigeria that has made it the only lucrative endeavor for politicians and their cronies, leading Nigeria to be regarded as the world's poverty capital. This paper advocate that Nigerians and the international community must endeavor to enshrine effective leadership and good governance through strong institutions, laws, and individuals who have zero tolerance for corruption and mediocrity in the polity. Only then will the fatherland of everyone’s dreams will be realized, and the labors of our hero’s past will not be in vain.

Keywords: corruption, leadership, governance, Nigeria

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Authors: Ramon F. B. da Silva, Mateus Batistella, Emilio Moran

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Although the existence of two Forest Transition (FT) pathways, the economic development and the forest scarcity, there are many contexts that shape the model of FT observed in each particular region. This means that local conditions, such as relief, soil quality, historic land use/cover, public policies, the engagement of society in compliance with legal regulations, and the action of enforcement agencies, represent dimensions which combined, creates contexts that enable forest regeneration. From this perspective we can understand the regeneration process of native vegetation cover in the Paraíba Valley (Forest Atlantic biome), ongoing since the 1960s. This research analyzed public information, land use/cover maps, environmental public policies, and interviewed 17 stakeholders from the Federal and State agencies, municipal environmental and agricultural departments, civil society, farmers, aiming comprehend the contexts behind the forest regeneration in the Paraíba Valley, Sao Paulo State, Brazil. The first policy to protect forest vegetation was the Forest Code n0 4771 of 1965, but this legislation did not promote the increase of forest, just the control of deforestation, not enough to the Atlantic Forest biome that reached its highest pick of degradation in 1985 (8% of Atlantic Forest remnants). We concluded that the Brazilian environmental legislation acted in a strategic way to promote the increase of forest cover (102% of regeneration between 1985 and 2011) from 1993 when the Federal Decree n0 750 declared the initial and advanced stages of secondary succession protected against any kind of exploitation or degradation ensuring the forest regeneration process. The strategic policy formulation was also observed in the Sao Paulo State law n0 6171 of 1988 that prohibited the use of fire to manage agricultural landscape, triggering a process of forest regeneration in formerly pasture areas.

Keywords: forest transition, land abandonment, law enforcement, rural economic crisis

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Authors: Corlia van der Walt, Michele K. Havenga

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The study considers corporate governance regulation and practice in South African higher education institutions and makes recommendations for the improvement of current governance practices in this sector. The development of corporate governance principles and practices in South Africa, culminating in the King IV Report on Corporate Governance which was launched in November 2016, is discussed. King IV enjoys international recognition as a progressive corporate governance instrument. It was necessitated by the fundamental changes in business and society nationally and globally, as well as by the significant changes to South African company law introduced by new legislation. Corporate governance and the corporate form are narrowly associated, but there is general recognition that the principles of ethical and effective leadership are not restricted to corporations. Thus King IV was drafted with the express aim that it should apply to all organisations, regardless of their form of incorporation, and the report includes specific sector supplements in support of this aspiration. The South African higher education sector has of late been under intense scrutiny, and a few universities have been placed under administration because of poor governance practices. Universities have also been severely impacted by the consequences of what is generally known as ‘#FeesmustFall’, a student led protest movement initially aimed against the increase of fees at public universities, but which rapidly expanded to also include other concerns. It was clearly necessary to revisit corporate governance policy and practice in the sector. The review of the current higher education governance regime in light of the King IV recommendations, lessons from company law regarding the entrenchment and enforcement of corporate governance principles, and a comparison of higher education governance practices in selected other jurisdictions led to recommendations for the improvement of governance practices in South African higher education. It is further suggested that a sector supplement for higher education institutions may provide additional clarity. Some of the recommendations may be of comparative value for international higher education governance.

Keywords: committees, corporate governance, ethical leadership, higher education institutions, integrated reporting, King IV, sector supplements, sustainability

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Authors: Ashiqul Amin Khan, Mohsin Ul Amin Khan

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The aim of this research is to find the relationship between good governance and shareholder wealth maximisation. The concept of good governance has become more objective in nature over time through various regulations, professionalisation, and practices. This has led to a number of methods for scoring and ranking corporate governance practices. Since shareholder wealth maximisation remains the key corporate goal for managers and governors alike, the effect of good governance in increasing the value of corporations is commented to be an important aspect. In measuring the value relevance of good governance, statistical measures of various yields of listed companies in the UK have been used in this research. Yields reflect required returns on investments from different investment tenets. Historical yields, calculated using historical fundamental data of such companies, reflect expected yields to a great extent. These yields, in turn, reflect the expected risk premium and growth associated with the stocks of the companies. Using fundamental data, the yields have been adjusted to reflect the risk premium required by the investors along various value paradigms. Good governance should naturally lead to lower required risk premium since good corporate governance provided assurance to the investors in terms of sustainability of future performance and desired financial conduct. This, in turn, increases the wealth of stockholders. The findings of this research confirm such nature of the relationship between good governance and value of the company in the long run.

Keywords: corporate governance, good governance practices, short-termism, shareholder value relevance, wealth maximisation, yield

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Authors: Terence Maisah Seka

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This paper examines democratic governance within the private and public sectors in economies in transition (Cameroon) by exploring how they influence development in terms of resource allocation to priorities that are locally conceptualized. The benefit of this is an improvement in indigenous and the quality of life for the local population. Using an ethnographic approach, this paper suggests that institutional corruption and state bureaucracy has limited the impact of democratic governance in influencing development. This has seen funds for developments being embezzled; local projects are not being done to satisfaction among others. The paper contributes by proposing measures to eliminate corruption to improve democratic governance, which will improve resource allocation and utilization.

Keywords: democratic governance, resource allocation, utilisation, Cameroon

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Authors: Chen Xiatong

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The study aims to explore the interrelationship between corporate governance factors and firm performance in Mainland China using a mixed-method approach. To clarify the current effectiveness of corporate governance, uncover the complex interrelationships between governance factors and firm performance, and enhance understanding of corporate governance strategies in Mainland China. The research involves quantitative methods like statistical analysis of governance factors and firm performance data, as well as qualitative approaches including policy research, case studies, and interviews with staff members. The study aims to reveal the current effectiveness of corporate governance in Mainland China, identify complex interrelationships between governance factors and firm performance, and provide suggestions for companies to enhance their governance practices. The research contributes to enriching the literature on corporate governance by providing insights into the effectiveness of governance practices in Mainland China and offering suggestions for improvement. Quantitative data will be gathered through surveys and sampling methods, focusing on governance factors and firm performance indicators. Qualitative data will be collected through policy research, case studies, and interviews with staff members. Quantitative data will be analyzed using statistical, mathematical, and computational techniques. Qualitative data will be analyzed through thematic analysis and interpretation of policy documents, case study findings, and interview responses. The study addresses the effectiveness of corporate governance in Mainland China, the interrelationship between governance factors and firm performance, and staff members' perceptions of corporate governance strategies. The research aims to enhance understanding of corporate governance effectiveness, enrich the literature on governance practices, and contribute to the field of business management and human resources management in Mainland China.

Keywords: corporate governance, business management, human resources management, board of directors

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Authors: Adeyemi Adebayo, Barry Ackers

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This paper comparatively analyses the corporate governance of SOEs in South Africa and Singapore in the context of the World Bank’s framework for corporate governance of SOEs. This framework ensured that the analysis holistically covered key aspects of corporate governance of SOEs in these states. In order to ground our understanding of the paths taken by SOEs in the states, the paper presents the evolution and reforms of SOEs in the states before analyzing key aspects of their corporate governance. The analysis shows that even though SOEs in South Africa and Singapore are comparable in a number of ways, there are notable differences. In this context, this paper finds that the main difference between corporate governance of SOEs in South Africa and Singapore is their organizing model. Further, the analysis, among other findings, shows that SOEs Boards in Singapore are better remunerated. Further finding reveals that, even though some board members are politically connected, Singaporean SOEs boards are better constituted based on skills and experience compared to SOEs boards in South Africa. Overall, the analysis opens up new debates and as such concludes by providing avenues for further research.

Keywords: corporate governance, comparative corporate governance, corporate governance framework, government business enterprises, government linked companies, organizing models, ownership models, state-owned companies, state-owned enterprises

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Authors: Lucky Dartsa Wakawa, Friday Nwabueze Ogana, Temitope Elizabeth Adeniyi

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Timely and reliable information on the status of a forest is essential for assessing the extent of regeneration and degradation. However, when such information is lacking effective forest management practices becomes impossible. Therefore, this study assessed the tree species composition, richness, diversity, structure of Oluwa forest reserve with the view of ascertaining it conservation status. A systematic line transect was used in the laying of eight (8) temporary sample plots (TSPs) of size 50m x 50m. Trees with Dbh ≥ 10cm in the selected plots were enumerated, identified and measured. The results indicate that 535 individual trees were enumerated cutting across 26 families and 58 species. The family Sterculiaceae recorded the highest number of species (10) and occurrence (112) representing 17.2% and 20.93% respectively. Celtis zenkeri is the species with the highest number of occurrence of tree per hectare and importance value index (IVI) of 59 and 53.81 respectively. The reserve has the Margalef's index of species richness, Shannon-Weiner diversity Index (H') and Pielou's Species Evenness Index (EH) of 9.07, 3.43 and 0.84 respectively. The forest has a mean Dbh (cm), mean height (m), total basal area/ha (m2) and total volume/ha (m3) of 24.7, 16.9, 36.63 and 602.09 respectively. The important tropical tree species identified includes Diospyros crassiflora Milicia excels, Mansonia altisima, Triplochiton scleroxylon. Despite the level of exploitation in the forest, the forest seems to be resilience. Given the right attention, it could regenerate and replenish to save some of the original species composition of the reserve.

Keywords: forest conservation, forest structure, Lowland tropical forest, South-west Nigeria

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Authors: Emilia Klepczarek

Abstract:

The Basel Committee on Banking Supervision and the OECD found problems with the mechanisms of corporate governance as one of the major causes of destabilization of the financial system and the subprime crisis in the years 2007-2010. In response to these allegations, there were formulated a number of recommendations aimed at improving the quality of supervisory standards in financial institutions. They relate mainly to risk management, remuneration policy, the competence of managers and board members and transparency issues. Nevertheless, a review of the empirical research conducted by the author does not allow for an unambiguous confirmation of the positive impact of the postulated standards on the stability of banking entities. There is, therefore, a presumption of the existence of hidden variables determining the effectiveness of the governance mechanisms. According to the author, this involves concepts arising from behavioral economics and economic anthropology, which allow for an explanation of the effectiveness of corporate governance institutions on the basis of the socio-cultural profile of its members. The proposed corporate governance culture theory indicates that the attributes of the members of the organization and organizational culture can determine the different effectiveness level of the governance processes in similar formal corporate governance structures. The aim of the presentation is, firstly, to draw attention to the vast discrepancies existing within the results of research on the effectiveness of the standards of corporate governance in the banking sector. Secondly, the author proposes an explanation of these differences on the basis of governance theory breaking with common paradigms. The corporate governance culture theory is focused on the identity of the individual and the scope of autonomy offered within his or her institution. The coexistence of these two conditions - the adequate behavioral profile and enough freedom to decide - is a prerequisite for the efficient functioning of the institutions of corporate governance, which can contribute to rehabilitating and strengthening the stability of the financial sector.

Keywords: autonomy, corporate governance, efficiency, governance culture

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Authors: Sonal Purohit, Animesh Dubey

Abstract:

Corporate governance deals with the entire network of formal and informal relationship with the management of the company and company’s stakeholders including employees, customers, creditors, local communities, and society in general. The recent financial crisis was truly a global crisis in its nature and effects. The Indian financial markets were not immune to this global financial crisis. It is believed that corporate governance also had a major role to play in staggering the effect of this crisis. The objective of this paper is to examine the failure of prevailing corporate governance practice in India during financial crisis. Lack of appropriate implementation of the corporate government norms was a reason behind the phenomenon of money being pulled-out by FIIs, which constitute major investors and influencers of the Indian financial market.

Keywords: corporate governance, FII, financial market, financial crisis

Procedia PDF Downloads 450