Search results for: good governance

Authors: Robert Grzeszczak

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The article deals with one of the most significant issues concerning the functioning of the public sector in the European Union. The objectives of good governance were formulated by the EU itself and also the Scholars in reaction to the discussion that started a decade ago and concerned the role of the government in 21st century, the future of integration processes and globalization challenges in Europe. Currently, the concept of good governance is mainly associated with the improvement of management of public policies in the European Union, concerning both domestic and EU policies. However, it goes beyond the issues of state capacity and effectiveness of management. Good governance relates also to societal participation in the public administration and verification of decisions made in public authorities’ (including public administration). Indirectly, the concept and practice of good governance are connected to societal legitimisation of public bodies in the European Union.

Keywords: Good governance, Government, European law, European Union.

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Authors: Saunah Zainon, Ruhaya Atan, Nadzira Yahaya, Marshita Hashim

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Governance in business firms is a topic that has long been studied in the literature. Traditionally, governance in business firms has focused on the roles of boards of directors in representing and protecting the interests of shareholders. Governance has also been studied in the context of non-profit organizations because good governance is essential to increase the likelihood that they will comply with the regulatory requirements that best serve their multiple stakeholders. This paper provides insights on the need of governance framework for religious non-profit organizations (RNPOs) based on five underlying principles. This paper is important to help regulators to understand RNPOs’ governance framework. The regulators may use the framework suggested for the development of the RNPOs’ code of governance in the future.

Keywords: Framework, governance, religious, RNPOs.

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Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam

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Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.

Keywords: Brand equity, investors’ preference, good corporate governance, sustainable business environment.

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Authors: Keke, Reginald Chikere

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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 advocates 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. It is only when this is done that Nigeria will be a better place for present and future generations.

Keywords: Corruption, leadership, governance, Nigeria.

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Authors: Zulkufly Ramly

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This paper attempts to investigate the effect of corporate governance and shareholder monitoring mechanisms on cost of debt of Malaysian listed firms. We assess the quality of corporate governance using comprehensive corporate governance index, which consists of 139 items in six broad categories. We classify shareholder monitoring mechanisms into concentrated ownership, family, insider and government ownerships. Using panel sample from 2003 to 2007, regression results show that high corporate governance quality and concentrated ownership lower firm cost of debt. Debt issuers consider board structure and procedures, board compensation practices, accountability and audit, transparency and social and environmental activities as integral components of a good corporate governance framework.

Keywords: Corporate governance index, cost of debt, ownership structure, Malaysia.

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Authors: Haroula N. Delopoulos

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In this article a bibliography research takes place to track down and introduce the barriers and opportunities for the adoption of e-Governance services mainly from the side of citizen, that is to say, the demand side. Although governments invest continuously in producing of e-Governance services, citizens face difficulties to adopt these services. Barriers derive and prevent them from using e-Governance services. Barrier is anything preventing citizens from the adoption of e-Governance services. Barriers impede or do not allow the adoption of e-Governance services by the citizens. If the barriers are pinpointed, it will be possible to take them into consideration while designing e-Governance services which the citizens are likely to use, if the obstacles are raised. The barriers will thus be converted in opportunities that will facilitate the adoption.

Keywords: adoption, barriers, e-governance services, eparticipation, opportunities.

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Authors: Ana Bobirca, Paul-Gabriel Miclaus

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The purpose of the article is to illustrate the main characteristics of the corporate governance challenge facing the countries of South-Eastern Europe (SEE) and to subsequently determine and assess the extensiveness and effectiveness of corporate governance regulations in these countries. Therefore, we start with an overview on the subject of the key problems of corporate governance in transition. We then address the issue of corporate governance measurement for SEE countries. To this end, we include a review of the methodological framework for determining both the extensiveness and the effectiveness of corporate governance legislation. We then focus on the actual analysis of the quality of corporate governance codes, as well as of legal institutions effectiveness and provide a measure of corporate governance in Romania and other SEE emerging markets. The paper concludes by emphasizing the corporate governance enforcement gap and by identifying research issues that require further study.

Keywords: corporate governance, effectiveness, extensiveness, South-Eastern Europe

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Authors: Feddaoui Amina

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In a broad sense, corporate governance covers the organization of the control and management. The term is also used in a narrower sense, to refer to the relationship between shareholders, and the company’s board. There are a lot of discussions devoted to the understanding of the corporate governance role and its principles. In this paper, we are going to describe the definition of corporate governance as a control system and its principles, and find the role of corporate governance and its pillars. Finally, we are going to drop the theoretical study on the case of Japan.

Keywords: Corporate governance, place, role, Japan.

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Authors: Intan Waheedah Othman, Maslinawati Mohamad, Azizah Abdullah

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Cooperative organizations in Malaysia are going through a phase of rapid growth. They are seen by the government as another crucial vehicle to drive and boost up the country-s economical development and growth. Hence, the issue of cooperative governance is of great importance. Unlike literatures on corporate governance for public listed companies-, literatures on governance for social enterprises, in particular the cooperative organizations are still at the early stage in Malaysia and very scant in number. This paper will look into current practices as well as issues and challenges related to cooperative governance. The need for a better solution towards forming best practices of cooperative governance framework appears imperative in deterring cases of mismanagement and fraud.

Keywords: Cooperative, Governance, Issues, Malaysia.

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Authors: M. Ionascu, L. Olimid

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In the last few years, several steps were taken in order to improve the quality of corporate governance for Romanian listed companies. Higher standards of corporate governance is documented in the literature to lead to a better information environment, and, consequently, to increase analysts forecast accuracy. Accordingly, the purpose of this paper is to investigate the extent to which corporate governance policies affect analysts forecasts for companies listed on Bucharest Stock Exchange. The results showed that there is indeed a negative correlation between a corporate governance index – used as a proxy for the quality of corporate governance practices - and analysts forecast errors.

Keywords: corporate governance, aanalysts' forecasts, information environment

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Authors: Chei-Chang Chiou, Sen-Wei Wang, Yu-Min Wang

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The purpose of this study is to investigate the relationship between corporate governance and pricing for initial public offerings (IPOs). Empirical result finds that the prediction of pricing of IPOs with corporate governance added can have a rather higher degree of predicting accuracy than that of non governance added during the training and testing samples. Therefore, it can be observed that corporate governance mechanism can affect the pricing of IPOs

Keywords: Artificial neural networks, corporate governance, initial public offerings.

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Authors: Ondruska Marek

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The article presents the whole model of IS/IT architecture exception governance. As first, the assumptions of presented model are set. As next, there is defined a generic governance model that serves as a basis for the architecture exception governance. The architecture exception definition and its attributes follow. The model respects well known approaches to the area that are described in the text, but it adopts higher granularity in description and expands the process view with all the next necessary governance components as roles, principles and policies, tools to enable the implementation of the model into organizations. The architecture exception process is decomposed into a set of processes related to the architecture exception lifecycle consisting of set of phases and architecture exception states. Finally, there is information about my future research related to this area.

Keywords: Architecture, dispensation, exception, governance, model

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Authors: Andre Luiz Carvalhal da Silva, Fernanda Farah de Abreu Zorman

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There are many studies in the literature on institutional investors- efforts to improve corporate governance, generally focused on the role of pension funds and private equity firms. There are only a few studies that analyze the influence of development banks in the governance of investee companies. The objective of this research is to examine the role of the Brazilian Development Bank (BNDES) in the governance of listed companies. Our analysis provides evidence that companies in which BNDES is a shareholder have better governance.

Keywords: BNDES, corporate governance, development banks, institutional investors.

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Authors: Guilherme B. B. Vieira, Rafael M. da Silva, Eliana T. P. Senna, Luiz A. S. Senna, Francisco J. Kliemann Neto

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Given the importance of ports as links in the global supply chains and because they are key elements to induce competitiveness in their hinterlands, the number of studies devoted to port governance, management and operations has increased in the last decades. Some of these studies address the port governance model as an element to improve coordination among the actors of the portlogistics chain and to generate a better port performance. In this context, the present study analyzes the governance of Port of Santos through individual interviews with port managers, based on a conceptual model that considers the key dimensions associated with port governance. The results reinforce the usefulness of the applied model and highlight some existing improvement opportunities in the port studied.

Keywords: Port Governance, Model, Port of Santos, Managers’ Perception.

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Authors: Mario Spremić

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Despite the financial crisis and ongoing need for cost cutting, companies all around the world heavily invest in Information Systems (IS) and underlying Information Technology (IT). Proliferation of governance of enterprise IT helps companies manage, or rather, governs IS as a primary business function with executive management involved in making decision about IS and IT. The business value of IT is raising with the involvement of the executive management in IT decision making process and quality IT governance mechanisms in place. In this paper the practice of governing the enterprise IT will be investigated on a sample of the largest 100 Croatian companies. Research questions posed here will reveal if there are some formal IT governance mechanisms, are there any differences in perceived role of IS and IT between CIOs (Chief Information Officers) and CEOs (Chief Executive Officers) of the sampled companies and what are the mechanisms to govern massive investment in enterprise IT.

Keywords: IT governance, governance of enterprise IT, information system auditing, IT maturity.

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Authors: Alaa-Aldin Abdul Rahim A. Al Athmay

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E-governance is an emerging and challenging initiative in developing countries. It is not only concerning the provision of services through the use ICT but rather entails building external interactions with citizen and businesses, enhancing democracy and trust of the political institutions of government. It embraces among other principles, openness, accountability and citizen engagement in public policy process. This study aims at finding users’ satisfaction with three chosen dimensions of e-governance, namely: openness, collaborative governance, and participation. These dimensions of e-governance are neither studied before in the context of Arab countries and nor explored earlier in relation to some demographics variables. A study of 900 users of e-government in United Arab Emirates (UAE) was undertaken to examine how gender, age, education, nationality, and employment affect their satisfaction with e-governance. Generally, satisfaction ratings vary significantly with these variables. However, the overall level of satisfaction with the three attributes was less favorable. Knowing the differences of  citizen’s perceptions towards e-governance services would help policymakers in the design of effective e-governance strategy.   

Keywords: E-governance, United Arab Emirates, Citizens' perceptions.

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Authors: Umar Ubandawaki

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Political participation involves voluntary and deliberate efforts by the members of a political system to determine the kinds of political institution and individuals that will govern them and equally influence the mobilization and allocation of the available societal resources. Over the years, youths in Nigeria participate actively in political party rallies and voting to elect their leaders and representatives in governance. This paper examines categories and nature of participation in politics as well as factors that drive youths into politics in Sokoto State. A survey conducted, through focus group discussions, interviews and questionnaire, in the six sampled Local Government of Sokoto State identifies three category of political participation; namely, active, moderate and apathetic participation. The findings reveal that 63.57% of respondents are apathetic to politics in the State and unemployed youth constitutes 34.74% of the entire responses. The paper establishes that lack of attainment of need (63.22%) is one of the reasons that make youths engage into participatory activities that encourage political thuggery and manipulation of electoral outcomes. The paper recommends that youths should be engaged into positive rational participatory activities that ensure inclusiveness and promotion of good governance in Nigeria. It is hoped that this will enlighten youths and policy implementers on the constructive strategies in controlling youths’ negative participation in politics in Nigeria.

Keywords: Democracy, Governance, Inclusiveness, Participation and Politics.

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Authors: Emil Crişan, Matthias Klumpp

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This paper discusses the theory behind the existence of an idealistic model for business network governance and uses a clarifying case-study, containing governance structures and processes within a business network framework. The case study from a German pharmaceutical industry company complements existing literature by providing a comprehensive explanation of the relations between supply chains and business networks, and also between supply chain management and business network governance. Supply chains and supply chain management are only one side of the interorganizational relationships and ensure short-term performance, while real-world governance structures are needed for ensuring the long-term existence of a supply chain. Within this context, a comprehensive model for business governance is presented. An interesting finding from the case study is that multiple business network governance systems co-exist within the evaluated supply chain.

Keywords: Business network, pharmaceutical industry, supply chain governance, supply chain management.

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Authors: Fattaneh Daneshmand Malayeri

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In this paper, in addition to introducing good urban planning and its effects on globalization, some new methodologies in urban management and another urban aspects has been presented. Some new concerns in increasing of urban population , metropolitans and its relations on big problems has been focused in this paper. It is very important matter that future urban planning with based on globalization will be with full of basically changes in its management and perspectives.

Keywords: Urban planning, urban management, good governance, globalization, metropolitan, strategic planning

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Authors: Simisola I. Akintoye, Sunday K. Iyaniwura

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Recent global corporate failures have called for increase in the need to regulate corporate governance across the world. In Nigeria, the impact of corporate governance regulation in the banking sector has reached epidemic levels contributing to the country’s economic depression. This study critically evaluates Nigeria’s corporate governance regime and explores how weak regulation has impacted on the banking sector. By adopting a socio legal methodology, the study analyses both theoretical and empirical works from a socio-scientific point of view to examine the role of Nigeria’s legal, cultural and social arrangements in corporate governance regulation. The study reveals that Nigeria’s institutional arrangement has contributed to its weak system of corporate governance regulation with adverse effects on the banking sector. The research mainly impacts on current global corporate governance literature in sub-Saharan Africa by contributing to knowledge of the peculiarities of corporate governance regulation in different institutional jurisdictions. The particular focus on emerging economies such as Nigeria expands on the need for countries to develop a bespoke system of corporate governance regulation that takes into consideration the peculiarities of individual countries devoid of external influence.

Keywords: Banks, corporate governance, emerging economies, Nigeria.

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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: Shu-Lin Lin, Ching-Chien Yang

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This study examines the influence of information transparency and corporate governance on purchase directors and officers liability (D&O) insurance decisions. The results show that companies with greater information transparency have significant demand for D&O insurance. Greater transparency in voluntary disclosures is significantly and positively associated with demand for insurance, indicating that increasing the degree of information disclosure reduces information asymmetry for insurers, which stimulates their willingness to provide greater protection. Analysis of insured and uninsured subsamples indicates that uninsured companies have superior corporate governance compared to insured companies. Although insured companies tend to have weaker corporate governance structures, they appoint Big 4 firms or industry experts to compensate for the weakness of their corporate governance. Empirical results indicate that purchasing D&O insurance can strengthen external corporate governance and increase companies’ willingness to voluntarily provide more transparent information.

Keywords: Directors and officers liability (D&O) insurance, information transparency, corporate governance, Big 4.

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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: Helene Eller

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The aim of non-profit organizations (NPO) is to provide services and goods for its clientele, with profit being a minor objective. By having this definition as the basic purpose of doing business, it is obvious that the goal of an organisation is to serve several bottom lines and not only the financial one. This approach is underpinned by the non-distribution constraint which means that NPO are allowed to make profits to a certain extent, but not to distribute them. The advantage is that there are no single shareholders who might have an interest in the prosperity of the organisation: there is no pie to divide. The gained profits remain within the organisation and will be reinvested in purposeful projects. Good governance is mandatory to support the aim of NPOs. Looking for a measure of good governance the principals of corporate governance (CG) will come in mind. The purpose of CG is direction and control, and in the field of NPO, CG is enlarged to consider the relationship to all important stakeholders who have an impact on the organisation. The recognition of more relevant parties than the shareholder is the link to corporate social responsibility (CSR). It supports a broader view of the bottom line: It is no longer enough to know how profits are used but rather how they are made. Besides, CSR addresses the responsibility of organisations for their impact on society. When transferring the concept of CSR to the non-profit area it will become obvious that CSR with its distinctive features will match the aims of NPOs. As a consequence, NPOs who apply CG apply also CSR to a certain extent. The research is designed as a comprehensive theoretical and empirical analysis. First, the investigation focuses on the theoretical basis of both concepts. Second, the similarities and differences are outlined and as a result the interconnection of both concepts will show up. The contribution of this research is manifold: The interconnection of both concepts when applied to NPOs has not got any attention in science yet. CSR and governance as integrated concept provides a lot of advantages for NPOs compared to for-profit organisations which are in a steady justification to show the impact they might have on the society. NPOs, however, integrate economic and social aspects as starting point. For NPOs CG is not a mere concept of compliance but rather an enhanced concept integrating a lot of aspects of CSR. There is no “either-nor” between the concepts for NPOs.

Keywords: Business ethics, corporate governance, corporate social responsibility, non-profit organisations, stakeholder theory.

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Authors: Haksoon Kim

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The paper investigates the relationship between the foreign direct investment (FDI) and the corporate governance or transparency by investigating the country-level FDI flows, FDI inward performance, corporate governance and transparency variables. From the regression analysis with Newey-West estimator of 28 country panel data from 1990- 2002, we find strong positive relationships between corporate governance or transparency level of hosting countries and FDI inward performance within hosting countries. A strong positive relationship is found between anti-director rights level or number of analysts of hosting countries and FDI inward performance within hosting countries. Also, we find a positive relationship between the number of analysts of hosting countries and FDI inflows. The empirical results are consistent with stock market liberalizations and corporate governance explanations of reasons for FDI.

Keywords: corporate governance, corporate transparency, FDIflows, FDI inward performance

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Authors: A. Lincoln, O. Adedoyin

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In recent times, corporations are increasingly under pressure to ensure diversity within their boardrooms and a large number of academic research have reported findings consistent with the view that boards perform better when they include a diverse range of people. Women have unique characteristics needed to positively influence the strategic direction of a corporation and contribute to the growth of firms. In spite of such revelations, evidence suggests that women are under-represented in senior executive and board positions. In many parts of Africa, socio-cultural traditions inhibit women from attaining these roles. Given the emphasis placed on board diversity and inclusion of women as an essential part of good corporate governance, the relationship between gender diversity and board effectiveness deserves both theoretical and empirical investigation. This research is important because it represents the first theoretical review on gender diversity in corporate boards in Nigeria.

Keywords: Boards, Corporate Governance, Gender Diversity, Nigeria.

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Authors: Aries Susanty

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The inability to implement the principles of good corporate governance (GCG) as demonstrated in the surveys is due to a number of constraints which can be classified into three; namely internal constraints, external constraints, and constraints coming from the structure of ownership. The issues in the internal constraints mentioned are related to the function of several elements of the company. As a business organization, corporation is unable to achieve its goal to successfully implement GCG principles since it is not support by its internal elements- functions. Two of several numbers of internal elements of a company are ethical work climate and leadership style of the top management. To prove the correlation between internal function of organization (in this case ethical work climate and transformational leadership) and the successful implementation of GCG principles, this study proposes two hypotheses to be empirically tested on thirty surveyed organizations; eleven of which are state-owned companies and nineteen are private companies. These thirty corporations are listed in the Jakarta Stock Exchange. All state-owned companies in the samples are those which have been privatized. The research showed that internal function of organization give support to the successful implementation of GCG principle. In this research we can prove that : (i) ethical work climate has positive significance of correlation with the successful implementation of social awareness principle (one of principles on GCG) and, (ii) only at the state-owned companies, transformational leadership have positive significance effect to forming the ethical work climate.

Keywords: Good Corporate Governance Principles, Ethical Work Climate, Transformational Leadership

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Authors: Chaitanya Vyas

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This paper identifies limitations of existing two e- Governance services viz. railway ticket booking and passport service in India. The comparison has been made as to how in the past these two citizen services were operating manually and how these services are taken online via e-Governance. Different e-Governance projects, investment aspects, and role of corporate are discussed. For Indian Railway online ticketing a comparison has been made between state run booking website and popular private firm run booking websites. For passport service, observations through personal visit to passport center is described. Suggestions are made to improve these services further to improve citizen service experiences.

Keywords: e-Governance, citizen services, Indian Railways, passport.

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Authors: L. Feleagă, M. Dumitrașcu, N. Feleagă

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This article is a research on corporate governance. The aim of the study is to focus a special attention on the importance of corporate social responsibility and corporate governance, which are relevant, indeed necessary, for organizations. In this regard, we analyzed the corporate social responsibility in the context of corporate governance for companies listed on Bucharest and Bombay Stock Exchange. Therefore, we bring into the spotlight some differences between India and Romania linked with the importance ascribed to corporate social responsibility of a company. We presented the results of the demarche and we concluded suggestions regarding further research in this area. The study increases the awareness, identifies and articulates desirable behaviors, which are not intended to be exhaustive.

Keywords: Corporate governance, corporate social responsibility, disclosure, listed companies.

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Authors: Maizatul A. Musa

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Not many studies have been undertaken on shareholder activism in emerging economies, including Malaysia. Shareholder activism in emerging economies is on the rise. This paper seeks to comprehend the elements of this activism that are unique to Malaysia, specifically with respect to how the agency problem is controlled through shareholder activism in improving corporate governance practices within target companies. Through shareholder activism, shareholders make contact with a target company to voice their dissatisfaction, suggestions, or recommendations. This paper utilises agency theory to explain institutional shareholder activism. This theory has been extensively used within literature on corporate governance with regards to shareholder activism. The effectiveness of shareholder activism in improving corporate governance will be examined as well. This research provides a further understanding of shareholder activism in emerging economies, such as Malaysia; this research also has the potential to enhance shareholder activism and corporate governance practices in general.

Keywords: Agency Theory, Corporate Governance, Emerging Economies, Institutional Shareholder Activism, Malaysia.

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