the corporate governance lessons of enron

... features of our sample of 98 observations: whether there was coverage in the international press; and, the type of outcome The variable ‘coverage in the international press’ takes on the value if there ... where the instrument for the log of the number of articles in the FT and WSJ is the percentage of Hermitage portfolio invested in a company at the end of 1998 Newsworthiness is measured as the ... and the Wall Street Journal in the period from t-1 month to t+2 months around the date of the alleged violation In the third column the dependent variable is one plus the number of articles in the

Ngày tải lên: 18/10/2022, 07:27

... However, the traditional corporate governance as the product of the hierarchy corporate structure highlighting the primacy of shareholders is failing the platforms and making less sense in the innovation-driven ... similar to the implication of the Agency theory However, the company did not follow the second implication of the theories as still having the role duality when the position of CEO and chairman is ... paper uses different theories related to the topic of CSR and CG including the theory of Friedman, Stakeholders, Agency and those of the internal means of CG Also, a range of reliable academic

Ngày tải lên: 27/04/2022, 08:24

... important participant in the governance process. We do not suggest that extant research has not looked at the role of the auditor but rather that the role of the auditor in the governance process ... actors in the corporate governance mosaic: (1) the board of directors and the audit committee; (2) the external auditor; and (3) the internal auditors. The final section provides a summary of areas ... to complement the current research by also investigating the substance of the interactions in the corporate governance arena. For example, although the emphasis in corporate governance research

Ngày tải lên: 06/01/2015, 19:49

... mechanisms The external governance mechanism of the corporate governance is the external control offered on the firm through the board of directors Whereas the internal control mechanism consists of ... considers corporate governance as an important determinant of the supply chain performance and the supplier relationship Following the stakeholder theory, the current study studies the impact of the corporate ... November 9 2018 Corporate governance has emerged as a sine-qua of corporate success The stakeholder theory of corporate governance consists of various factors, other than the economy and finance

Ngày tải lên: 27/05/2020, 03:26

... Bresnahan ABSTRACT In the wake of the demise of Enron, corporate governance has come to the forefront of economic discussion The fall of Enron was a direct result of failed corporate governance and ... lack of auditing independence Included is an analysis on the partial failure of the efficient market hypothesis in the case of Enron and the transfer of costs to the shareholders because of the ... contracting theory This analysis of the Enron case attempts to explain what happened at Enron in the context of existing theories on the firm, corporate governance, and executive compensation, as they

Ngày tải lên: 06/01/2015, 19:49

... investigate the changes of governance in specific firms over time It is interesting to discover whether it is the absolute ranking of the corporate governance or the improvement of corporate governance ... maximum of corporate governance scores for the sample year 1999-2003 In addition, we present the statistics for the changes of scores each year The last row of Table 1 shows that the number of firms ... three years of annual reports containing the relevant corporate governance information over the time-period 1999 till 2003, we calculate its corporate governance score using the corporate governance

Ngày tải lên: 06/01/2015, 19:48

... Corporate Governance Corporate Governance Corporate Governance Corporate Governance at the at the at the at the Influence Influence Influence Influence of the of the of the of the Corporate ... 1997).Thus, the result of the study buttresses the fact that there is the need to have a clear separation between the positions of board chairman and CEO. The size of the firm rather has a ... include the quality of governance. The issue of governance performance is more and more present in the field literature. Regarded as a finality of a complex public management process, the governance

Ngày tải lên: 06/01/2015, 19:48

... impact of a crosslisting on the firm’s subsequent governance, there are no studies that investigate the relation between the reputation of the invest-ment banker and changes in the governance of the ... recommendations of users of meta-analysis for the inclusion of unpublished data Trang 3CORPORATE GOVERNANCE THROUGHCROSSLISTING: THE BONDING HYPOTHESIS Legal Bonding In the agency-theory literature, ... many of these firms sell their control blocks intact after crosslisting She suggests that these firms crosslist to facili-tate the sale of control blocks, not to enhance the quality of their corporate

Ngày tải lên: 06/01/2015, 19:49

... range of other stakeholder groups. This concept and argument led to the emergence of the “Multi-stakeholders” theory of corporate governance. “Corporate governance is defined as the system of ... corporate governance internationally and then corporate governance developments in Vietnam. The next section highlights and analyses the history of corporate governance and the emergence of joint ... incentives to participate in the corporate governance of public companies. Clearly, the impact and the influence of the political system over corporate governance of public companies in Vietnam

Ngày tải lên: 06/01/2015, 19:49

... opportunity to observe the impact of the improvement in the level of corporate governance at a specific time Furthermore the known factors affecting the firm returns at the time of the transaction can ... activity and Corporate Governance of the Target firm 51 Table 11 -Method of Payment and Corporate Governance in the Target firm 52 Table 12 -Method of payment and Corporate Governance in the Bidder ... investigate the relationship between the probability of a stock settlement and the degree of corporate governance in place in the acquiring firm, AGI, at the time of the transaction The control

Ngày tải lên: 30/09/2015, 17:30

... with the exception of the recent paper by Garcia et al (2009), most, if not all, of the studies in the past had concentrated on or were seduced by the “dark side” of the governance, that is, the ... types of accruals are used for earnings management and which are not”, is the governance structures of the firm One potential measurement of the “external-based” governance that is in the spirit of ... covered and in the definitions of some of the covered provisions For example, only 18 of the 24 provisions in the G-Index are covered by the 2008 volume of the RiskMetrics governance data Trang 3129

Ngày tải lên: 30/09/2015, 17:30

... the proportion of outside directors on the board and the level of earnings management. Besides the proportion of outside directors on the board, the separation of the roles of the chairman of ... of the board and the CEO can also affect the independence of the board. The role of the chairman is pivotal to securing good corporate governance. According to Jensen (1993), the function of the ... by the SEC for alleged violations of GAAP, if they have the CEO simultaneously serving as the chair of the board. Thus, the second hypothesis is proposed: Hypothesis 2: The combination of the

Ngày tải lên: 05/10/2015, 19:01

... analysis of the nature and effectiveness of corporate governance in smaller listed February 2011 Trang 5Abstract The objective of this thesis is to investigate the corporate governance attributes of ... and the efficacy of governance mechanisms in these firms Reasons for the lack of empirical evidence include the economic significance of the largest companies and the availability of data for these ... and is not part of the recommendations 1.9 Organisation of the thesis The remainder of this thesis is structured as follows Chapter Two explores the development of corporate governance codes

Ngày tải lên: 07/08/2017, 15:39

... used as a concern from the approach of an investors, who are studying the corporate governance of the firm and the value creation of the firm to its shareholder, to decide if they will invest on ... Nguyen (2006) for the illustration why the pursuit of better corporate governance practices can be of genuine and practical benefit to companies themselves Significance of the thesis This study ... fact of the Corporate Governance in Vietnam instead of saying, describing it in general at starting From the figure of this research, in comparison with other countries and from the test, the

Ngày tải lên: 12/08/2017, 21:11

... 35 3.3 The Significance of Corporate Governance 37 3.4 The Significance of good Corporate Governance in Developing and Transition Economies 39 3.5 The Principles of Good Corporate Governance ... 48 3.6.1 The Shareholders-Oriented Model of Corporate Governance 49 3.6.2 The Stakeholders-Oriented Model of Corporate Governance 50 3.7.1 The Organs of Governance in Share Companies Governance ... in the form of either in cash, in kind or skill for the purpose of carrying out activities of an economic nature and of participating in the profit and loses arising out there of, if any.58 The

Ngày tải lên: 14/08/2017, 16:49

... REVIEW 5 2.1 An Overview of Corporate Governance 5 2.1.1 Definition of Corporate Governance 5 2.1.2 Potential Benefits of Good Corporate Governance 7 2.2 The Corporate Governance Framework in ... result, they are able to decrease their capital costs The cost of capital depends upon the level of risk assigned to the company by investors - the higher the risk, the higher t he cost of capital These ... in the world and still in the early s tage of its development 1.3 Research Objective The objective of this thesis is to examine the relationship between corporategovernance and the value of a

Ngày tải lên: 10/01/2018, 11:08

... University of Rotterdam A thesis submitted in Partial fulfillment of the Requirements for the Degree of Master of Art in Development Economics Under the supervision of Dr Võ Hồng Đức Vietnam - Netherlands ... to corporate governance, their estimation for firms performance is relatively constrained As a result, the importance of the topic on corporate governance and a relaxation of restriction on the ... Vietnam, the framework of corporate governance has just been in an early stage of development There are not many laws regulating corporate governance in Vietnam based on different types of companies

Ngày tải lên: 03/01/2019, 00:07

... to the content of the appli-cation; and (c) representations and declarations of the foreign investor and theactual controller thereof, and the commitments to the authenticity and integrity ofthe ... least half of the members of the board of directors (or another equivalent decision-making organ); (b) Can arrange for at least half of the members of the board of directors (oranother equivalent ... Authority(Administration of Market Supervisor) has the discretion to require the LLCs toregister the name of general manager along with the information of the mandatorygovernance structure in the process of the LLCs

Ngày tải lên: 03/01/2020, 09:52

... study of the impact of CG on the quality of FRI, while the foreign studies only investigate the impact of CG on the quality of FRI in other aspects Secondly, to assess the quality of FRI, the Vietnamese ... the impact of the seven independent variables in CG on the quality of FRI, the thesis uses two moderating variables: the size of the company and the proportion of the state-owned capital in the ... combining the previous research models, the thesis will study the impact of CG on the quality of FRI in the stock market in Vietnam Summary of chapter 1 CHAPTER 2: THEORY OF FRI AND CG To answer the

Ngày tải lên: 16/01/2020, 14:08

... and then considers the responsibility of the board and why its oversight appears to have failed in a number of cases. Other aspects of the corporate governance framework that contributed to the ... adequacy of its corporate governance principles in these key areas. * This report is published on the responsibility of the OECD Steering Group on Corporate Governance which agreed the report ... 2008 1 The Corporate Governance Lessons from the Financial Crisis Grant Kirkpatrick * This report analyses the impact of failures and weaknesses in corporate governance on the financial...

Ngày tải lên: 15/03/2014, 19:20