DETERMINANTS OF CORPORATE GOVERNANCE DISCLOSURE
The study of Weir and Laing, 2000; Bouwman, (2011), on corporate governance confirm that there are divergence in the level of intended disclosure among quoted companies. Many literatures also revealed that the level and quality of corporate governance disclosures are determined by board characteristics and corporate ownership structure (Ho and Wong, 2001; Haniffa and Cooke, 2002; Eng and Mak, 2003; García-Meca and Sánchez-Ballesta, 2010; Chalevas, 2011; Samaha et al., 2012; Allegrini and Greco, 2013; Ntim and Soobaroyen, 2013).
This part of the study reviews the literature on the board of directors’ characteristics and how the ownership structures can have an influence on corporate governance
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Haniffa and Cooke (2002) and Barako et al. (2006) argue that independent directors can support the board and committees through their knowledge and experience. In addition, they are better able to monitor managers. In contrast, Bozec (2005) suggest that a high proportion of independent directors on the board may lead to excessive managerial monitoring, which could potentially hinder managerial initiatives.
Many empirical studies revealed a positive relationship between the proportion of outside directors and corporate governance disclosure. The study of Haniffa and Cooke (2002) revealed that the presence of outside directors improved the accountability and transparency of the board among 167 malasian quoted companies in 1995. In a similar study by García-Meca and Sánchez-Ballesta (2010) it was found that board independence gives adequate level of protection to
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Agency theory suggests that board size is a essential factor when the issue of monitoring the activities of management behaviour arise (Fama and Jensen, 1983; Allegrini and Greco, 2013). Ntim and Soobaroyen (2013) has also argue that increased in managerial monitoring positively have an impact on the necessary disclosure of corporate entity
The Unites States was created to protect individual rights and interests against unpredictable government power. Delegates wanted to create a better system of government that would help the nation. Although the Confederation Government was a political system of the unites Stated in the 18th century, it did not give equal power between the branches of the government and the people, however there were achievements, failures of the Articles of Confederation, and the draft of a new constitution because the united states was failing as a nation and needed to be strengthened in any way possible. In addition slavery was debated at the Constitutional Convention of 1787 and the final provision satisfied southern states. The ratification of the new Constitution
Named after its creators Senator Paul Sarbanes and Representative Michael Oxley, the Sarbanes–Oxley Act of 2002 (SOX) was enacted on July 30, 2002 by President George W. Bush. .Sox is also known as the Public Company Accounting Reform and Investor Protection Act of 2002. It is widely known as the most significant reform since the formation of the Securities and Exchange Commission of 1943. Consequently major corporate scandals such as Enron, Worldcom and Tyco led to The Sarbanes Oxley Act. The act sets strict reforms to the financial practices and corporate governance of public corporations, accounting and management firms.
Although the battles at Lexington and Concord signified the start of the revolutionary war, the colonies declaration for independence wasn’t signed until 1776. From that time, each colony began to act as its own separate republic. The colonial assemblies continued to meet and several states even wrote their own constitutions. Although there was forward progress at the state level, the forming of a national government was slow and relatively unsuccessful. The Continental Congress was the only representation of a national entity and was more of a coordinating body rather then a government.
The Washington Post recently wrote a piece regarding the Sportsmen’s Heritage and Recreational Enhancement Act of 2017 (SHARE Act), in which it states that Congress is using this legislation to protect the rights of the sportsmen and women in America. According to the National Rifle Association (NRA), this piece is nothing more than fake news. As such, the NRA decided to clear up the misconceptions set forth by the Post. Fact or Fiction?
John Henry Giles signed the DNR under the false belief that he was suffering from a condition called ALS which was diagnosed by Dr.Hamilton and agreed upon by Dr.Forman. It is understandable why he would not want to be resuscitated in the event that something would happen due to the miserable conditions and suffering that he would have faced as a result of the progression of this condition. The only problem was that Dr.House was the only one that disagreed with the ALS diagnosis but his argument was uncertain and unsupported. Due to the lack of testing requested by the patient and the undetermined cause of his illness the doctors that were assigned his case had to take a chance and prescribe John medications that they believed would help his
According to President Ronald Reagan, the 40th U.S. President (1981-1989), the gov-ernment should be highly accountable to its citizens, particularly when it comes to the spending of tax dollars. Reagan clearly expresses a critical perspective towards the role of the United States government in that excessive spending has been a significant problem. Reagan upholds a perspective of a classical liberalist in the way he criticizes the nature of the welfare state – one that is flawed when citizens lack incentive to work hard in achieving self-sufficiency and rely heavily on government support. That is, Reagan openly states a concern regarding fiscal and monetary policies where the government is spending possibly more than
After the Civil War, Americans looked to create a whole, prosperous nation. Corporations grew steadily as Americans migrated west. The owners would create trusts, buying out all the smaller companies in their line of work and thus controlling the whole field. Americans had mixed feelings about these companies. Although post civil war corporations employed many and offered low prices, they ultimately stifled smaller businesses and have some control of the government.
Synthesis Essay: Corporate Sponsorship Corporate businesses sponsor just about everything: professional sports teams and stadiums, theaters, music halls, dance performances, art galleries, museums. Everywhere you look you will see ads for energy drinks, make-up, radio shows, you name it. Though sponsorship is for the most part accepted in everyday life, corporate sponsorship in high school can be controversial. There are both pros and cons to it. It benefits the schools by providing much needed funding especially for art and music programs.
The market revolution, which started in 1815, transformed worker lives, and improved the nation vastly; although it also dropped the economy as well. The traditional market, which was based upon power generated by animals and water, was slow in activities such as transportation. The growing nation underwent peace, which then catalyzed the reform of the organization of the economy. As such, transportation was heavily improved upon, along with manufacturing, banking, and commercial law. However, there were also two panics during the time that occurred that led to many Americans who were anxious and uncertain about working in the country.
Why does a board of directors have a chairperson? Each of these groups is founded on the principle that each member gets a vote and power is distributed. But in order to accomplish decisions and missions, these groups succeed when they have strong leaders. Not leaders who silence the members and assume all power - rather, leaders who direct, motivate and inspire the members to work harder. To progress, a community needs clear guidance from an effective leader who can be replaced if necessary.
Big-government proponents embrace both the power of the federal government and the idea that millions of Americans ought to be dependent on its largesse. It's time to return to our Founders' love for small government. More is not always better. –Gary Bauer. Historically, the size of government has always been one of the most divisive topics between Democrats and Republicans. Whether it is a small government, or a big government.
EXECUTIVE COMPENSATION Executive compensation is a broad term which comprises of financial compensation and non-financial rewards given to an executive from their firm for their services. This package is decided by a company’s Board of Directors (consisting of independent directors). It should be designed in a manner which incentivizes the executives and motivates them to perform in accordance with the company’s goals and its long term growth. These packages generally include a mix of short-term incentives (including salary, annual bonus, benefits, and perquisites) and long-term incentives (including stock options and restricted shares). E.g. Microsoft CEO Satya Nadella received a compensation package of $84.3 million for the software maker’s
America is known by many to be the best countries in the world but there are still many things that stand in the way of the american dream (Stealing From America). One of these things is corporate lobbyist. These people have slowly taken over american democracy with pay to play corruption and giant lobbying teams (The Atlantic). Nowadays unions and protest have been much less successful in stopping the behemoth that is a corporate lobbying team(Secular Talk). Corporation will continue to grow wealth inequality in america if we do nothing about it.
In recent years, activist shareholders and their influence on organisations has become a very important and highly debated issue. According to Smith (1996), shareholder activism refers to monitoring, controlling and attempting to influence or change the organisational control structure of companies that do not tend to pursue the goal of shareholder wealth maximization. One of the major tendencies of shareholders to vote against the excessive remuneration packages of the chief executives of top British firms was noticed in the spring of 2012 and eventually, this incident was called "Shareholder Spring" . While some analyst disagree over the extent to which an increased shareholder activism in "shareholder spring" had effect on the way UK organisations are governed, it is believed that that attempts of shareholders to
A system to check and balances the benefit of all the board of directors and to avoid some of top management from making decisions that only benefit themselves is created and named corporate governance. Corporate governance means the system of rules, practices and processes by which a company is directed and controlled. The set of rules provided as a guidelines for the board of directors to make sure that accountability and fairness in a company’s relationship with its stakeholders such as financiers, customers, management, employees, shareholders and also society in order to achieve company’s goals and targets in a manner that add a value to the company. All of the stakeholders play an important role in corporate governance to ensure that