Alang with big drop of oil prices, offshore oil engineering market demand is witnessing profound changes. This brings rare opportunities while huge challenges for Chinese offshore oil engineering enterprises. Chinese ...Alang with big drop of oil prices, offshore oil engineering market demand is witnessing profound changes. This brings rare opportunities while huge challenges for Chinese offshore oil engineering enterprises. Chinese offshore oil engineering enterprises have made rapid development in recent years, but they still have a certain gap with European and American competitors. Only by answering the time＇s call for developmentof international market and having the courage to participate in international competition could Chinese offshore oil engineering enterprises gnaw strong unceasingly.展开更多
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
文摘Alang with big drop of oil prices, offshore oil engineering market demand is witnessing profound changes. This brings rare opportunities while huge challenges for Chinese offshore oil engineering enterprises. Chinese offshore oil engineering enterprises have made rapid development in recent years, but they still have a certain gap with European and American competitors. Only by answering the time＇s call for developmentof international market and having the courage to participate in international competition could Chinese offshore oil engineering enterprises gnaw strong unceasingly.
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.
