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 director...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 .展开更多
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 direct...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.展开更多
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 ...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.展开更多
Corporate governance structure system, or corporate organization system, which is a management model and system on the basis that the investment and control are separate, is the rules of setting up and operating the c...Corporate governance structure system, or corporate organization system, which is a management model and system on the basis that the investment and control are separate, is the rules of setting up and operating the corporate organizations which is specified in Company laws among counties around the world. This article introduces the five parts of corporate governance structure system and discuses the function.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
This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries (consumer,...This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries (consumer, trading & services, industrial, constructions and properties) within 2001 to 2005. Throughout, this study will use correlation and regression analysis in the SPSS software to determine the effects of corporate governance practices on Market Valuation. In analyzing firms' market valuation, we will use the Tobin's Q formula and for the corporate governance compliance, we will look at 4 criteria to compare with market valuation, which are (1) Board of Director's composition, (2) Board of Director's remuneration (salaries), (3) Board of Director's training and development, (4) Board of Director's meeting. In order to determine the effects between the corporate governance compliance and market valuation, we will use regression analysis. Based on the correlation analysis, the first null hypothesis must be rejected and the alternative hypothesis is accepted, in which dependent variable and independent variables are significantly correlated with BOD remuneration and BOD training availability. Overall, there is a significant relationship between Tobin's Q and independent variables (BOD remuneration and BOD training). This study also recommends that for the company who did not comply with the code, they should follow the best practice because it will be a pivotal weapon in facing with the fierce competition in era globalization.展开更多
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 compositi...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展开更多
The study investigates the plausible link between multiple directorships and company performance for Johannesburg Stock Exchange (JSE) listed companies in South Africa. This study also interrogates whether companies...The study investigates the plausible link between multiple directorships and company performance for Johannesburg Stock Exchange (JSE) listed companies in South Africa. This study also interrogates whether companies with busy boards perform better or worse than non over-boarded companies. The incidence of multiple directorship on JSE is low, therefore the hypothesis is rejected at 5%. Over-boarded company directors attend significantly less board meetings. The Pearson correlation between connectedness and log-transformed financial ratios is not significant between all the six financial ratios. The study finds no difference in performance between over-boarded and non over-boarded companies, and no association between multiple directorships and company performance.展开更多
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 mar...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.展开更多
文摘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 .
文摘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.
文摘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.
文摘Corporate governance structure system, or corporate organization system, which is a management model and system on the basis that the investment and control are separate, is the rules of setting up and operating the corporate organizations which is specified in Company laws among counties around the world. This article introduces the five parts of corporate governance structure system and discuses the function.
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This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries (consumer, trading & services, industrial, constructions and properties) within 2001 to 2005. Throughout, this study will use correlation and regression analysis in the SPSS software to determine the effects of corporate governance practices on Market Valuation. In analyzing firms' market valuation, we will use the Tobin's Q formula and for the corporate governance compliance, we will look at 4 criteria to compare with market valuation, which are (1) Board of Director's composition, (2) Board of Director's remuneration (salaries), (3) Board of Director's training and development, (4) Board of Director's meeting. In order to determine the effects between the corporate governance compliance and market valuation, we will use regression analysis. Based on the correlation analysis, the first null hypothesis must be rejected and the alternative hypothesis is accepted, in which dependent variable and independent variables are significantly correlated with BOD remuneration and BOD training availability. Overall, there is a significant relationship between Tobin's Q and independent variables (BOD remuneration and BOD training). This study also recommends that for the company who did not comply with the code, they should follow the best practice because it will be a pivotal weapon in facing with the fierce competition in era globalization.
文摘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
文摘The study investigates the plausible link between multiple directorships and company performance for Johannesburg Stock Exchange (JSE) listed companies in South Africa. This study also interrogates whether companies with busy boards perform better or worse than non over-boarded companies. The incidence of multiple directorship on JSE is low, therefore the hypothesis is rejected at 5%. Over-boarded company directors attend significantly less board meetings. The Pearson correlation between connectedness and log-transformed financial ratios is not significant between all the six financial ratios. The study finds no difference in performance between over-boarded and non over-boarded companies, and no association between multiple directorships and company performance.
文摘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.