Directors＇ Board Characteristics and Audit Quality： Evidence From Belgium

This study investigates the relationship between board characteristics and external audit quality on a sample of 97 Belgian listed companies during the period 2003-2007. Board characteristics proxies are the composition of the board, its independence, its structure in terms of duality or independence and its diligence. Our results are consistent with board independence and size being complements with external audit, rather than substitutes

Women on Boards of Directors

This research aims to measure the current gender representation in membership of boards of directors,and to study the factors affecting the presence of women on boards.The results of the study will support the decision makers and policy makers at all levels by providing knowledge that contributes to bridging the current gap in participation of women boards.The methodology used in this research is the descriptive analytical approach,which relies on quantitative methods in the process of collecting and analyzing data.This study represents the boards of directors in the three sectors(public,private,and non-profit)in the Kingdom of Saudi Arabia,The study sample contained 350 targets,where a random sample of 150 people in the public sector,100 people in the private sector,and 100 people in the non-profit sector were selected.The research result found that the majority of the responses believe that the lack of experience and training,and social factors,are the most impact areas of explaining the reasons for the existence of a gap in women’s membership in boards of directors in the three sectors.And the most important reasons for the existence of a gender gap in board membership are:there is no statutory minimum percentage for women’s representation on boards of directors,and scarcity of female competencies in general,and the lack of women occupying leadership positions.

Female directors in the boardroom and intellectual capital performance:Does the“critical mass”matter?

This research aims to investigate the influence of female directors on Intellectual Capital Performance(ICP)using a sample of manufacturing-listed companies in China.Our study investigates the link between having two or more female directors and the Modified Value-Added Intellectual Coefficient(MVAIC)methodology,employing the critical mass theory from 2004–2017.We find that having a critical mass of female directors(three or more)shows a significant positive impact on MVAIC and its components,including human capital efficiency,structural capital efficiency,relational capital efficiency,and physical capital efficiency,with physical capital being the critical driver.Our study reveals that the critical mass participation of female directors substantially influences the IC efficiency of privately owned companies compared to state-owned companies.Moreover,the number of female directors also affects the IC performance of manufacturing companies in multiple regions.Our findings support the validity of group classification identified by Kanter and Critical Mass Theory.To the best of our knowledge,this is one of the few pieces of research that studies the role of female board directors in IC performance and Chinese manufacturing firms using MVAIC as an IC measure.

Effects of Pilot Programs for China's Central SOE Board of Directors

Since June 2004, the State-Owned Assets Supervision & Administration Commission(SASAC) has launched pilot programs for a board of directors(BoD) for central SOEs to establish and improve their governance structure and standardize their exercise of shareholder rights over state-owned listed companies. Based on this quasinatural experiment, this paper examines the BoD's effects on the agency cost of state-owned listed companies and their economic consequences. Using data of central SOE-controlled companies listed at Shanghai and Shenzhen stock exchanges during 2002-2015, this paper finds that the pilot programs significantly reduced the two types of agency costs for the companies, and such effects primarily existed for listed companies with smaller central SOE shareholding ratios. Further test uncovers that, compared with central SOEs that did not carry out the pilot programs, those that did reported higher economic value-added and stock returns. Our conclusions offer a new interpretation of the BoD's governance effects from a controlling shareholder's perspective, and provide empirical evidence for the positive effects of the pilot programs for central SOE boards of directors. These findings have important policy implications for deepening SOE governance reforms.

Experimental and numerical study regarding H-steel all-bolted connection steel frame with composite wall boards

H-steel all-bolted connection steel frame structures with heat preservation and decoration composite wall boards were investigated and the seismic performances of three scaled specimens were studied.The failure modes,hysteresis curves,bearing capacity,ductility,energy dissipation capacity,stiffness degradation and strain distribution were discussed.The calculation method of structural theoretical internal force was presented.The results showed that the overall structural seismic performance was better,and the structural ductility met the demands of elastic-plastic inter-story drift angle for seismic design.The H-steel weak-axis connection structure obtained better energy dissipation capacity,and its bearing capacity and stiffness were slightly different from the strong-axis connection.The heat preservation and decoration performance of composite wallboard and the all-bolted connection of the steel frame realized prefabrication during the whole construction period.The plastic hinge of the steel beam can be moved outwards because of the L-angles,which effectively avoids stress concentration in joint areas and expands the plastic hinge range.The errors between the theoretical structural capacity calculated by the plastic analysis method and the test results were within 2.44%.In addition,structural failure mechanisms and bearing capacities were verified by the finite element(FE)analysis,and the effects of the main parameters on the structures were investigated.The FE verification results were the same as in the test.The research results provide theoretical support and technical guidance for the application of thermal insulation and decorative composite wall panels in H-shaped steel all-bolted steel frames.

A study on directors＇ remuneration and board committee in Malaysia

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.

Protective benefit of folded linear HDPE board sand fences along the Golmud-Korla Railway,China:Field observation and wind tunnel study

The Milan Gobi area of the Golmud-Korla Railway in northwest China is located in the lower dispersal area of the mountain pass and has strong winds with evident double wind direction characteristics.This study introduced a novel sand fence deployment technique,termed‘folded linear deployment',designed to position the sand fence orthogonally to the two predominant wind directions for optimal protection.This study used wind tunnel and field tests to evaluate the wind and sand flow characteristics,as well as the windproof and sandresistant performance of folded linear HDPE(Highdensity polyethylene)board sand fences.The results suggest that the airflow around the fence creates clear zoning characteristics.The deceleration area on the BSF(backwind side of the sand fence)is much larger than that on the DSF(downwind side of the sand fence).Thus,sand particles are primarily deposited on the BSF.At different wind speeds,the airflow at 2 and 5 h on the DSF is not disturbed.The WSP(wind speed profile)presents a logarithmic distribution.The airflow is disturbed at 1-20 h on the BSF,and the WSP gradually deviates from the logarithmic law.However,as the airflow moves away from the fence,the WSP gradually approaches a logarithmic distribution.Meanwhile,the WPE(windproof efficiency)and SRE(sand-resistant efficiency)of the sand fence exceed 80%.In addition,the results of wind tunnel tests are compared with those of field tests.The overall dispersion is good,and the best dispersion is found at z/H=2.00,indicating good agreement between the two test results.This study provides a scientific basis for the design of sand hazard control measures,similar to the railway project in the Gobi Gale area.

The Effect of the Board of Directors and Audit Quality on Disclosure of Internal Control Practices: Evidence from European Companies

The purpose of this paper is to examine the effect of the board of directors,namely board size,board independence,and CEO duality,as well as audit quality on the disclosure of internal control information.The sample consists of 164 European companies listed in the STOXX Europe 600.Based on positive agency theory,the authors posit that board of directors and audit quality influence corporate internal control disclosure practice.The content analysis and the design of the evaluation criterion were used to calculate the disclosure index of internal control.Thus,multiple regression analysis is utilized to analyze the results of this paper.The average internal control information disclosure index was 0.285,indicating that most of the companies in our sample do not disclose enough information about the internal control.This low level of forward-looking information disclosure makes it very difficult for corporate stakeholders to determine the future performance of the company.Multivariate results indicate that internal control disclosure is positively and significantly associated with board independence,CEO duality,and audit quality.This study contributes to the literature on the various governance characteristics and disclosure by showing that the disclosure of internal control information in European countries is positively and significantly associated with board independence,separation of duties,and audit quality.Our study was based on a sample of European companies including countries regulating IC disclosure as well as unregulated settings.As noted by Bedard and Graham(2014),regulatory differences in countries can contribute insights on the costs and benefits of disclosure.Findings also have policy implications for investors,managers,and regulators.

The "Garden of Emeralds" Exhibition:Interview with Dr. EloÏse Gaillou,Director and Curator of the Mineralogy Museum of l'école des Mines de Paris(Mines Paris-PSL)

From May 25 to October 7,2024,L’éCOLE China,School of Jewelry Arts(supported by Van Cleef & Arpels) presents the "Garden of Emeralds" exhibition in its Shanghai campus.As part of the "Discover the Gemstones" series,the exhibition gives pride to this green precious mineral and explores its history in many regions of the world,from Asia to Europe including the Middle East.Gathering both raw stones and pieces of jewelry from museum collections and private lenders,it addresses the topic through the three main pillars of L’éCOLE:gemmology,savoir-faire and the history of jewelry.

Board of Directors, Independent Directors and Audit Fees： Based on the Empirical Data of the GEM of China

As one of the alternative variables of audit quality, audit fees have been researched widely in the Mainboard of China stock market, but empirical research based on the GEM （Growth Enterprise Market） of China is very few. From the perspective of GEM of China, this article observes and studies the impact of corporate governance structure represented by board of directors and independent directors on audit fees. This article selects the data of 348 listed companies in the GEM of China in 2012, proves that there is a positive correlation between the number of meetings, independent directors＇ salaries and audit fees through the use of multiple linear regression model, and accordingly proposed suggestions that improve the corporate governance structure of the GEM of China.

Spring Festival Celebrations Fire Maltese Fascination with Chinese Culture--An Exclusive Interview with Director of the China Cultural Center in Malta Yuan Yuan

THRONGS of shoppers,in a department store adorned with colorful Spring Festival posters,vying to try their hand either at Chinese calligraphy or traditional Chinese lantern-making,might seem incongruous in a European setting.The background to this vibrant scenario was The Point,Malta’s largest shopping mall,as part of the island country’s 2023 Chinese New Year celebrations,courtesy of the China Cultural Center in Malta.

BOB(Bosa On Board)设计研究

采用bosa on board的方式,将光通信电路直接铺设在PCB板上,替代传统的光模块独立器件,实现GPON/EPON产品的低成本高性能。

An Empirical Research on the Relationship between Board of Directors Governance and Corporate Performance of Chinese Public Companies

Board of directors is an important component part of corporate governance. As a governance mechanism, we empirically study relationship among the scale of the board of directors, the structure of the board of directors and the duality leadership structure with corporate performance in Chinese public companies. The result shows that the smaller scale of the board of the directors is, the better performance is. With the ownership structure changing better, the structure of the board of directors will change better and promote the performance. The duality leadership structure doesn＇t affect the corporate performance. The fundamental method for the governance effectiveness of the board is to set up the reasonable ownership structure and the marketing mechanism for occurrences in human .

Analysis of Boards of Directors of Listed Companies --Empirical Evidence from China Stock Market

Since stock markets came forth in China only about 15 years ago, there are many different characteristics of Chinese listed companies compared with those of western. According to the regulation on Chinese security markets, an effective internal governance system is composed of systems of general meeting of shareholders, board of directors, board of supervisors and managers. The general meeting of shareholders, as the highest agency of power, makes decisions on important affairs of the company and one of its most important rights is to select qualified members for the board of directors. Board of directors exercises the resolution made by general meeting of shareholders and fulfil the responsibilities authorized by general meeting of shareholder during adjournment. Among the system arrangements above-mentioned, board of directors is the most important. However, the efficiency of internal governing system of the whole company depends on board of directors. Combined with ownership structure analysis, this paper analyses the status quo of boards of directors in China and demonstrates every attribute of Chinese listed companies＇ board of directors.

Development and Characterization of Particle Boards Based on Sorghum Husk

This study tackles current environmental challenges by developing innovative and eco-friendly particle boards utilizing sorghum husk, combined with recycled expanded polystyrene (EPS). This dual eco-responsible approach valorizes sorghum husk, often deemed agricultural waste, and repurposes EPS, a plastic waste, thus contributing to CO2 emission reduction and effective waste management. The manufacturing process involves dissolving recycled polystyrene within a solvent to create a binder, which is then mixed with sorghum husk and cold-pressed into composite boards. The study explores the impact of two particle sizes (fine and coarse) and two different concentrations of the recycled EPS binder. Results demonstrate significant variations in the boards’ mechanical properties, displaying a range of Modulus of Rupture (MOR) from 0.84 MPa to 3.85 MPa, and Modulus of Elasticity (MOE) spanning from 658.13 MPa to 1313.25 MPa, influenced by the binder concentration and particle size. These characteristics suggest that the boards can be effectively used in various construction applications, including interior decoration, false ceilings, and potentially for furniture and door manufacturing when combined with appropriate coatings. This study not only exemplifies the valorization of plastic and agricultural wastes but also offers a practical, localized solution to global climate change challenges by promoting sustainable construction materials.

A Study of the Role of the Board of Directors in Corporate Governance Based on UK Listed Companies

Companies are directed and controlled by corporate governance.It acts on the company internally and externally.The board of directors is responsible for the governance of the company;that is to say,the board of directors is the brain of the company,while corporate governance is the blood distributed throughout the company,which not only supplies blood to the whole,but also reflects the situation.Therefore,with regard to the role of the board of directors in corporate governance,this paper objectively analyzes the importance of the board of directors in corporate governance from theory to practice and from the internal composition of the board of directors to the impact of the board’s actions on the enterprise as a whole based on United Kingdom(UK)listed companies.

The Role of Library and Information Science Education in the Development of Community Health Information Services for People Living with HIV/AIDS: Perspectives of Directors and Managers of Public Libraries

This article identifies the role of library and information science (LIS) education in the development of community health information services for people living with HIV/AIDS (PLWHA). Preliminary findings are presented from semi- structured qualitative interviews that were conducted with eleven directors and managers of local branches in the Knox County Public Library (KCPL) System that is located in the East Tennessee region in the United States. Select feedback reported by research participants is summarized in the article about strategies in LIS education that can help local public librarians and others in their efforts to become more responsive information providers to PLWHA. Research findings help better understand the issues and concerns regarding the development of digital and non-digital health information services for PLWHA in local public library institutions.

The Criterion of weighting the independence of non-executive directors

Non-executive directors are now very well established in Chinese business. The uniform and final criterion of weighting the independence of non-executive directors is not available. It will be valuable to draw an analogy with the criterion of weighting the independence of non-executive directors in the UK, where over a dozen different criterions are applied.