To be successful in global markets, companies from the emerging countries need the approval of foreign investors and other stakeholders. In this regard, Brazil, Russia, India, and China （BRIC） have progressively str...To be successful in global markets, companies from the emerging countries need the approval of foreign investors and other stakeholders. In this regard, Brazil, Russia, India, and China （BRIC） have progressively strengthened their corporate governance rules to help their companies overcome the competitors from the old industrialized countries. Directors＇ non-executive qualification, independence, and professional expertise represent basic requirements for effective corporate governance, so they should be carefully considered to guarantee a proper board composition and an adequate establishment of internal committees in listed companies. The paper intends to compare the legislative and regulatory frameworks adopted by the four countries; then it aims at answering to the following research questions by means of an empirical investigation： Have BRIC companies appointed non-executive and independent board members？ What do BRIC companies do in order to assure an effective participation of non-executive and independent board members to corporate governance activities？ Have BRIC companies established internal committees？ The research examines the appointment of non-executive directors and independent directors to the boards of 100 BRIC leading firms, as well as their involvement in internal committees focused on matters requiring motivated and impartial opinions. Although the laws and recommendations seem to favor a general convergence of corporate governance principles among the four BRIC and towards the international best practices, some differences and peculiarities emerge from a firm-level perspective. Indeed, the Indian and the Chinese companies analyzed appear more inclined than the Brazilian and the Russian ones to reassure their international stakeholders about board independence and effective committees.展开更多
Researches on company directors＇ remuneration and its links with firms＇ performance and corporate governance have drawn wide attention as stakeholders are interested to find out whether directors received the right ...Researches on company directors＇ remuneration and its links with firms＇ performance and corporate governance have drawn wide attention as stakeholders are interested to find out whether directors received the right package of remuneration and whether it is always in line with the firm＇s performance and corporate governance policy. However, there is a lack of study examining the impact of specific board committee on directors＇ remuneration, particularly in emerging capital and financial market. This study, involving 120 Malaysian public listed companies, aims to examine this association. The study employs descriptive analysis, Pearson＇s correlation test and multivariate stepwise statistical technique. The result of the study indicates that there is a positive relationship between directors＇ remuneration with board executive committee, remuneration committee, nomination committee and corporate governance committee. The result also indicates negative relationship between directors＇ remuneration with employees share option scheme committee. However, all these associations are not significant, except ownership structure that is used as a control variable. This result prompts a need to reexamine the effectiveness of corporate governance practice through establishment of board committee in determining directors＇ remuneration.展开更多
On Oct.25,2015,the 3rd Work Meeting of the 2nd Editorial Board Committee of China City Planning Review(abbreviated as CCPR hereafter)was convened at the School of Architecture,Tsinghua University in Beijing.The Editor...On Oct.25,2015,the 3rd Work Meeting of the 2nd Editorial Board Committee of China City Planning Review(abbreviated as CCPR hereafter)was convened at the School of Architecture,Tsinghua University in Beijing.The Editorial Board members participated in the meeting.At the meeting,the Editorial Department of CCPR presented a Work Report of the 2nd Editorial Board Committee(2013–2015)and a Work Report of the Editorial Department,followed by open discussions.展开更多
文摘To be successful in global markets, companies from the emerging countries need the approval of foreign investors and other stakeholders. In this regard, Brazil, Russia, India, and China （BRIC） have progressively strengthened their corporate governance rules to help their companies overcome the competitors from the old industrialized countries. Directors＇ non-executive qualification, independence, and professional expertise represent basic requirements for effective corporate governance, so they should be carefully considered to guarantee a proper board composition and an adequate establishment of internal committees in listed companies. The paper intends to compare the legislative and regulatory frameworks adopted by the four countries; then it aims at answering to the following research questions by means of an empirical investigation： Have BRIC companies appointed non-executive and independent board members？ What do BRIC companies do in order to assure an effective participation of non-executive and independent board members to corporate governance activities？ Have BRIC companies established internal committees？ The research examines the appointment of non-executive directors and independent directors to the boards of 100 BRIC leading firms, as well as their involvement in internal committees focused on matters requiring motivated and impartial opinions. Although the laws and recommendations seem to favor a general convergence of corporate governance principles among the four BRIC and towards the international best practices, some differences and peculiarities emerge from a firm-level perspective. Indeed, the Indian and the Chinese companies analyzed appear more inclined than the Brazilian and the Russian ones to reassure their international stakeholders about board independence and effective committees.
文摘Researches on company directors＇ remuneration and its links with firms＇ performance and corporate governance have drawn wide attention as stakeholders are interested to find out whether directors received the right package of remuneration and whether it is always in line with the firm＇s performance and corporate governance policy. However, there is a lack of study examining the impact of specific board committee on directors＇ remuneration, particularly in emerging capital and financial market. This study, involving 120 Malaysian public listed companies, aims to examine this association. The study employs descriptive analysis, Pearson＇s correlation test and multivariate stepwise statistical technique. The result of the study indicates that there is a positive relationship between directors＇ remuneration with board executive committee, remuneration committee, nomination committee and corporate governance committee. The result also indicates negative relationship between directors＇ remuneration with employees share option scheme committee. However, all these associations are not significant, except ownership structure that is used as a control variable. This result prompts a need to reexamine the effectiveness of corporate governance practice through establishment of board committee in determining directors＇ remuneration.
文摘On Oct.25,2015,the 3rd Work Meeting of the 2nd Editorial Board Committee of China City Planning Review(abbreviated as CCPR hereafter)was convened at the School of Architecture,Tsinghua University in Beijing.The Editorial Board members participated in the meeting.At the meeting,the Editorial Department of CCPR presented a Work Report of the 2nd Editorial Board Committee(2013–2015)and a Work Report of the Editorial Department,followed by open discussions.
