Journal articles: 'Corporate collapse'

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Whitfield, Richard. "Avoiding corporate collapse." Strategic Direction 34, no. 11 (November 12, 2018): 7–8. http://dx.doi.org/10.1108/sd-07-2018-0159.

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Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Using financial and non-financial indicators in combination represents the most effective approach to identifying emerging problems within companies. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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Flavell, R. "Predicting corporate collapse." International Journal of Forecasting 4, no. 2 (January 1988): 300–301. http://dx.doi.org/10.1016/0169-2070(88)90092-1.

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Argenti, John. "Signs of Corporate Collapse." IEEE Engineering Management Review 13, no. 4 (December 1985): 36–38. http://dx.doi.org/10.1109/emr.1985.4306157.

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Hossari, Ghassan. "Multiple classification schemes for signalling corporate collapse." International Journal of Accounting and Information Management 22, no. 2 (April 29, 2014): 146–56. http://dx.doi.org/10.1108/ijaim-11-2012-0073.

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Purpose – The purpose of this paper is to undertake an analysis of two recent classification schemes in the literature for ratio-based modelling of corporate collapse; namely the dual-classification scheme (DCS) and the multi-classification scheme (MCS). Its contribution to the literature lies in investigating whether a trade-off exists between the structural efficiency and the practical adeptness of these two schemes. Design/methodology/approach – The methodological approach for the DCS relies on a combination of multiple discriminant analysis and multi-level modelling, whereas that for the MCS utilizes multi-classification constrained-covariance regression analysis. Findings – Based on a unified data set of 112 collapsed companies and 341 non-collapsed companies utilised across both the DCS and the MCS, the results indicate that whilst both classification schemes are comparable in their predictive accuracy with respect to signalling collapse, they exhibit a trade-off between their structural efficiency and their practical adeptness. Originality/value – Whilst novel classification schemes such as the DCS and the MCS have been successful in addressing the inherent problem of identifying unclassifiable companies in the literature for ratio-based modelling of corporate collapse, thus far no attempt has been made to investigate the trade-off between their structural efficiency and their practical adeptness. Moreover, by utilising a unified data set, the robustness of this investigation is enhanced. Accordingly, this paper provides economic insight into more stable financial modelling.

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Nguyen, Huu Cuong. "Enron fiasco: Business difficulty and the role of Enron’ directors." Corporate Ownership and Control 8, no. 4 (2011): 165–68. http://dx.doi.org/10.22495/cocv8i4c1p2.

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Enron Corporation’s high-profile collapses marked a new period for dramatic changes to corporate governance worldwide that mainly focuses on law reform to prevent, or al least mitigates, similar future corporate collapse. The paper investigates Enron’s demise by addressing the two main aspects: Enron’s business and the role of Enron’s director in governing the Corporation, especially with the presence of dual role of the chairman and chief executive officer in its organisational structure

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Kangarlouei, Saeid Jabbarzadeh, and Morteza Motavassel . "The Comparison of the Ownership Structure at Different Level of the Financial Collapse in Listed Firms of Tehran Stock Exchange." Information Management and Business Review 4, no. 1 (January 15, 2012): 49–55. http://dx.doi.org/10.22610/imbr.v4i1.963.

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The main objective of this study is to compare ownership structure of different levels of collapse in listed companies of Tehran Stock Exchange (TSE). Study variables are the ownership structure that includes governmental ownership, private ownership (corporate ownership and individual ownership) and the different levels of collapse including latency stage, the stage of cash deficits and commercial and financial insolvency and complete collapse. Altman model (ZÂ´- Score) is used to predict the collapse of firm and Chi-Square test is used to test the research hypothesis. The study is the applied research and statistical population of study includes 96 collapse firms that are active in the TSE (subject to Business Law Article 141). Given the availability of financial information of distressed companies in 7 years between 2004-2010 years, a sample of 81 members was selected. The results show that the ownership structure of collapsed firms is independent from their different levels of collapse.

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Monem, Reza. "The One.Tel Collapse: Lessons for Corporate Governance." Australian Accounting Review 21, no. 4 (December 2011): 340–51. http://dx.doi.org/10.1111/j.1835-2561.2011.00151.x.

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Rossouw, Jannie, and James Styan. "Steinhoff collapse: a failure of corporate governance." International Review of Applied Economics 33, no. 1 (October 5, 2018): 163–70. http://dx.doi.org/10.1080/02692171.2019.1524043.

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Sharma, Jai Prakash. "Corporate Governance Failure: A Case Study of Satyam." Indian Journal of Corporate Governance 3, no. 2 (July 2010): 136–75. http://dx.doi.org/10.1177/0974686220100204.

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Corporate Governance has become prominent over the last two decades as many countries witnessed corporates succumbing to questionable corporate policies and unethical practices, setting in motion reforms through codes and standards on corporate governance. India too had had its share of corporate scams. The recent fraud in Satyam has shattered the dreams of various investors, shocked the government and regulators alike and led to questioning the accounting practices of statutory auditors and corporate governance norms. Unethical business conduct, cooking of books of accounts, questionable role of audit committee, flawed ownership structure and other major governance flaws were noticed in the collapse of Satyam. As in USA, UK and other countries, India too needs similar kind of corporate governance reforms. Even though corporate governance mechanisms cannot prevent unethical activity by top management completely, but they can at least act as a means of detecting such activity before it is too late.

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Teng, Kevin Low Lock, David Yong Gun Fie, and Bala Shanmugam. "The enigma of corporate governance." Corporate Ownership and Control 1, no. 3 (2004): 13–19. http://dx.doi.org/10.22495/cocv1i3p1.

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The issue of corporate governance has in recent years received more attention than it would ordinarily have in the light of series of corporate failure that gave rise to implications the affect not only those directly connected with the corporations concerned, but also those affected by its existence such as employees, customers, suppliers and the environment. This interest is further aggravated by occurrences of major corporate failures such as the collapse of the BCCI Bank, collapse of the Barings Empire, the Daiwa Bank debacle and the Maxwell affair which all have pointed to the lack of a proper corporate governance system as a major course. Studies have shown that a majority of corporate failures were predominantly dominated by one individual, occupying a position of trust, who apart from losing large amounts of money also committed illegal acts.

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Mirshekary, Soheila, Ali M. Yaftian, and Damien Cross. "Australian corporate collapse: The case of HIH Insurance." Journal of Financial Services Marketing 9, no. 3 (March 2005): 249–58. http://dx.doi.org/10.1057/palgrave.fsm.4770157.

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Hossari, Ghassan. "Optimising errors in signaling corporate collapse using MCCCRA." International Journal of Accounting & Information Management 20, no. 3 (July 27, 2012): 300–316. http://dx.doi.org/10.1108/18347641211245173.

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Nguyen, Huu Cuong. "Factors causing Enron’s collapse: An investigation into corporate governance and company culture." Corporate Ownership and Control 8, no. 3 (2011): 585–93. http://dx.doi.org/10.22495/cocv8i3c6p2.

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This paper investigates and evaluates the weaknesses of Enron’s corporate governance structures, weaknesses that lead to the collapse of the company. Overall, poor corporate governance and a dishonest culture that nurtured serious conflicts of interests and unethical behaviour in Enron are identified as significant findings in this paper. Employing the case study method, the paper synthesizes, analyses, and interprets all aspects of corporate governance that lead to Enron’s collapse based on three main reports: The Powers Report (Powers, Troubh and Winokur 2002), the Testimony of Chief Investigation (Roach 2002), and The Subcommittee’s Report (United States Senate’s Permanent Subcommittee on Investigations 2002). Firstly, Enron’s Board of Directors failed to fulfil its fiduciary duties towards the corporation’s shareholders. Secondly, the top executives of Enron were greedy and acted in their own self-interest. Thirdly, many of Enron’s employees witnessed the wrongdoings of Enron’s top executives, and quite a few whistleblowers came forward. Lastly, Enron outsourced external auditing for its internal audit function instead of establishing a functionally internal audit mechanism and its external auditor acquiesced in the application of questionable accounting and fraudulent financial reporting. Although Enron’s collapse has been widely discussed in the literature, no paper has been found that synthesizes the various aspects of corporate governance that resulted in the Corporation’s collapse. This paper contributes to the literature on the numerous weaknesses of Enron’s corporate governance structures, including the following: the role of the Corporation’ board, especially its top executives; the Corporation’s corporate culture and whistle-blowing system; and the Corporation’s internal auditor and external auditors.

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Alleyne, Philmore, and Renée M. Thompson. "Corporate governance and firm performance in an emerging market: Evidence from Barbados." Corporate Law and Governance Review 1, no. 2 (2019): 51–61. http://dx.doi.org/10.22495/clgrv1i2p5.

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Good corporate governance practices are regarded as important in reducing risk for investors, attracting investment capital and improving the performance of companies. This paper investigates the relationship between corporate governance practices of the board of directors and firm performance of Colonial Life Insurance Company (CLICO), a large insurance company which collapsed in Barbados, and caused significant financial losses to policyholders. Using a case study approach, we used information from publicly available documents via print media and the internet to research the corporate governance practices and performance of CLICO. Findings reveal that the collapse of CLICO was a result of poor corporate governance mechanisms including lack of board independence, CEO and Chairman dual relationship, poor regulatory environment, non-functioning sub-committees, failure to manage risks, interlocking directorship, political involvement and lack of diversity. Recommendations include effective regulation, separation of the roles of CEO and Chairman, reduced political interference and more diversity.

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McConvill, James. "Positive Corporate Governance and its Implications for Executive Compensation." German Law Journal 6, no. 12 (December 1, 2005): 1777–804. http://dx.doi.org/10.1017/s2071832200004314.

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As a result of a series of high-profile corporate collapses worldwide, along with regular reporting of shareholder money being spent on corporate jets, executive golf days and increasingly excessive executive compensation arrangements, the common perception is that the executives of our largest corporations are driven by self-interest with little regard for what is best for the corporation. Due to this negative perception, there has been an exponential increase in the amount of laws, rules and guidelines setting in place a heightened standard of corporate governance best practice. Without such regulation, it is believed, another collapse or scandal is inevitable. In this article, I dispute this reasoning. In my view if we embrace “positive corporate governance”, in which the positive strengths and virtues of company executives are emphasised, we can move towards an environment in which heavy regulation is replaced by positive corporate norms inside the corporation. I then apply my approach of positive corporate governance to address one of the most significant issues confronting corporate regulation at present- how to deal with the rapid increase in executive compensation in our largest corporations. I suggest that the dominant methodology of pay for performance is ultimately flawed.

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Allan, Gregor. "The HIH Collapse: A Costly Catalyst for Reform." Deakin Law Review 11, no. 2 (January 1, 2006): 137. http://dx.doi.org/10.21153/dlr2006vol11no2art239.

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<p>This paper examines the corporate governance and audit law reforms wrought in the wake of recent corporate scandals such as the HIH collapse. It considers the cost of these reforms and, using HIH as a principle reference point, the likely benefits. In particular, it questions reforms in the areas of auditor independence and audit standards. Do the new independence requirements go far enough? Does audit practice regulation now go too far? Indeed, is the audit function inherently<br />susceptible to legislated sanction – or does this denigrate the very<br />essence of auditing as a profession?</p>

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Burrows, Geoff. "Book Review: Corporate collapse: accounting, regulatory and ethical failure." Accounting History 10, no. 3 (November 2005): 117–20. http://dx.doi.org/10.1177/103237320501000306.

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Capitanio, Carmel. "Book review: Corporate collapse: regulatory, accounting and ethical failure." Accounting History 2, no. 2 (November 1997): 118–19. http://dx.doi.org/10.1177/103237329700200210.

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Беляева, Ольга, and Olga Belyaeva. "Collapse of Judicial Practice in Disputes on Corporate Procurements." Journal of Russian Law 6, no. 10 (October 20, 2018): 1. http://dx.doi.org/10.12737/art_2018_10_3.

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Jo, Hoje, Annie Hsu, Rosamaria Llanos-Popolizio, and Jorge Vergara-Vega. "Corporate Governance and Financial Fraud of Wirecard." European Journal of Business and Management Research 6, no. 2 (March 25, 2021): 96–106. http://dx.doi.org/10.24018/ejbmr.2021.6.2.708.

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This paper examines the antecedents and consequences of the collapse of Wirecard AG, in June 2020, the “German Enron.” Specifically, we investigate how the Wirecard’s ineffective corporate governance under the German’s financial regulatory system fails to serve their stakeholders, and how its management’s unethical behavior of earnings manipulation contribute to significant financial collapse for the company, and lead to the destruction of shareholders’ value. This paper examines how the internal and external governance and monitoring mechanisms failed to uncover the vast fraud at the German payments group at a much earlier stage. Furthermore, we find evidence consistent with the hypothesis that the continuous pressure of meeting or exceeding consensus on earnings estimates, management’s performance compensation based on the growth of Wirecard’s stock price, and the lack of proper supervision from the board of directors ultimately create the opportunities for management to manipulate earnings without being uncovered for several years. Such course of action has caused significant financial corporate misconduct for Wirecard and led to the destruction of firm value.

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., Pujiyono, and Sugeng Riyanta. "Corporate Criminal Liability in the Collapse of Bank Century in Indonesia." Humanities and Social Sciences Letters 8, no. 1 (2020): 1–11. http://dx.doi.org/10.18488/journal.73.2020.81.1.11.

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Dlamini, Banele, Julius Tapera, and Shynet Chivasa. "Can Sound Corporate Governance Alleviate Corporate Failure? A Study of the Zimbabwean Financial Services Sector." Journal of Economics and Behavioral Studies 9, no. 2(J) (May 18, 2017): 88–95. http://dx.doi.org/10.22610/jebs.v9i2(j).1652.

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This study, using the Ordinary Least Squares (OLS) Regression Model, investigated the extent to which good corporate governance practices can minimise or alleviate corporate failure in the Zimbabwean Financial Services Sector. The results of the study reflected that sound corporate governance has a positive effect on corporate success and can alleviate corporate failure. It is thus recommended that financial institutions continuously adhere to sound corporate governance practices to guarantee corporate success and alleviate the collapse of financial institutions as has been witnessed in the past. The findings of the study will assist policy makers, regulators and players in the financial services sector to adhere to sound corporate governance practices, given its impact on corporate success. Further research could be carried out with regards the implementation of sound corporate governance in parastatals, quasi-government institutions and private sector companies in other sectors other that the financial services sector and how it can be monitored or enforced.

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Dlamini, Banele, Julius Tapera, and Shynet Chivasa. "Can Sound Corporate Governance Alleviate Corporate Failure? A Study of the Zimbabwean Financial Services Sector." Journal of Economics and Behavioral Studies 9, no. 2 (May 18, 2017): 88. http://dx.doi.org/10.22610/jebs.v9i2.1652.

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This study, using the Ordinary Least Squares (OLS) Regression Model, investigated the extent to which good corporate governance practices can minimise or alleviate corporate failure in the Zimbabwean Financial Services Sector. The results of the study reflected that sound corporate governance has a positive effect on corporate success and can alleviate corporate failure. It is thus recommended that financial institutions continuously adhere to sound corporate governance practices to guarantee corporate success and alleviate the collapse of financial institutions as has been witnessed in the past. The findings of the study will assist policy makers, regulators and players in the financial services sector to adhere to sound corporate governance practices, given its impact on corporate success. Further research could be carried out with regards the implementation of sound corporate governance in parastatals, quasi-government institutions and private sector companies in other sectors other that the financial services sector and how it can be monitored or enforced.

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Guedes, Maria João. "Editorial: Corporate governance and ownership: Changing towards an accountable, sustainable, responsible but profitable corporation." Corporate Ownership and Control 18, no. 1 (2020): 4–6. http://dx.doi.org/10.22495/cocv18i1editorial.

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In recent years, corporate governance has been a popular topic of research, especially in the aftermath of corporate scandals and financial crisis. These events highlighted the effects that weak corporate governance may have in corporations, resulting in poor management decisions and financial performance, and even ending in the collapse of some corporations. This new issue (volume 18, issue 1) of the journal Corporate Ownership and Control contains an interesting selection of articles, with contributions on the role of different types of ownership (e.g., family and state-owned enterprises) and corporate governance mechanism, from internal control to new forms of socially responsible accountability in order to enable the corporations to ensure a commitment to all stakeholders and a safe global environment for the future.

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Ngwenya, Sam. "Corporate governance and performance of listed commercial banks in South Africa." Corporate Ownership and Control 11, no. 2 (2014): 677–87. http://dx.doi.org/10.22495/cocv11i2c7p1.

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The global financial crisis of 2008 that resulted in the collapse of many financial institutions in the United States (US) and Europe have resulted in debates over the failures of corporate governance structures to properly protect investors. The main objective of the study was to determine the relationship between corporate governance and performance of listed commercial banks in South Africa. The results of the study indicated a statistically positive significant relationship between board size, proportion of non-independent and non-executive directors and bank performance. The results of the rest of the corporate governance indicators are mixed when using different performance measurement variables.

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Prof. M.C., Ubesie (Dr )., Boniface Onah Ewogu, and Dickson Erhimu. "Creative Accounting: A Threat to Corporate Survival of Firms in Nigeria." IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT 8, no. 4 (October 5, 2020): 16–28. http://dx.doi.org/10.56201/ijebm.v8.no4.2022.pg16.28.

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This study examined creative accounting as it affects survival of corporate firms in Nigeria. To effectively carry out this study income smoothing, window dressing and choice of accounting policies were used as proxies of creative accounting (independence variable) and corporate survival as dependent variable. The researcher was motivated to study this title due to incessant stagnation, liquidation and collapse of public business organizations in Nigeria suspected to be caused by poor management of resources. The study adopted a descriptive survey and data were gathered primarily using a well-structured questionnaire. Data analysis was done using arithmetic mean while hypothesis were tested using chi-square(x2) analytical tool. It was discovered that income smoothing, window dressing as well as changes in accounting policy. Significantly and negatively affected corporate survival of business firms in Nigeria. This implies that instead of perpetual existence or survival of such companies, they dwindle, stagnate, liquidate and finally collapse. It therefore recommends that accounting and government regulatory bodies should step up proper monitoring tools to effectively monitor the activities of the preparers of financial accounts and management to rise to the expectations of investors and other user of accounting report.

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Peng, Chenyang. "Corporate Financing Constraints and Stock Price Crash Risk based on Overinvestment Perspective." BCP Social Sciences & Humanities 16 (March 26, 2022): 630–36. http://dx.doi.org/10.54691/bcpssh.v16i.522.

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As an anomaly in the capital market, the frequent occurrence of domestic and foreign stock price crashes can bring great impact on the stability of the market and economic development. The causes have also become an important topic of research for scholars, and this paper uses data of A-share listed companies of China in 2018 to study the impact of financing constraints on the risk of stock price crashes. The results show that the degree of financing constraints is significantly and negatively related to the risk of stock price collapse, i.e., the higher the degree of financing constraints, the lower the risk of stock price collapse. The findings can not only enrich the literature on stock price crash risk, financing constraints and other related fields, but also have important reference value for reducing stock price crash risk and promoting the healthy and stable development of China's capital market.

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Ogutu, Emmanuel Omondi. "Corporate Failure and the Role of Governance: The Parmalat Scandal." INTERNATIONAL JOURNAL OF MANAGEMENT & INFORMATION TECHNOLOGY 11, no. 3 (August 30, 2016): 2747–54. http://dx.doi.org/10.24297/ijmit.v11i3.5111.

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Being touted as the biggest scandal in terms of value, the Parmalat scandal offers a good opportunity to investigate and analyze the role of corporate governance in the failure of corporations particularly in the United States, Europe, as well as in emerging economies. This paper examines Parmalatâ€™s history and describes the circumstances that led to the massive accounting fraud and collapse of Europeâ€™s and indeed one of the worldâ€™s leading dairy producers. This paper highlights and points out how weak and ineffective corporate governance structure and process heavily contributed to other problems within Parmalat and eventually led to its demise in the fall of 2003. This paper incorporates various studies conducted in the past on corporate governance and corporate failure. Organizations with strong and effective corporate governance structure and processes demonstrate better performance in all areas than those with weak corporate governance processes.

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Dibra, Rezart. "Corporate Governance Failure: The Case Of Enron And Parmalat." European Scientific Journal, ESJ 12, no. 16 (June 28, 2016): 283. http://dx.doi.org/10.19044/esj.2016.v12n16p283.

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Corporate governance is a central and dynamic aspect of business. The term governance is derived from the latin word gubernare, meaning to steer. It usually applies to the steering of a ship. Thus, this implies that corporate governance involves the function of direction rather than control. Corporate governance has come to the forefront of academic research due to the vital role it plays in the overall health of economic systems. Corporate governance was long ignored as a matter of potential importance for the development of a nation’s economy. The wave of U.S. corporate fraud in the 1990s was attributed to deficiencies in corporate governance. The recent 2008-2009 global financial crisis, triggered by the unprecedented failure of Lehman Brothers and the subprime mortgage problems, renewed interest on the role of corporate governance in the financial sector. The development of a strong corporate governance framework is important to protect stakeholders, maintain investor confidence in the transition countries, and attract foreign direct investment. This paper looks at the collapse of Enron and the Parmalat, which was a particular Italian scandal. Parmalat, Enron, and other American firms such as Tyco and WorldCom all have a number of fudging at their core – efforts to make the companies look healthier than they were. Parmalat’s collapse began in November when its auditor raised questions about a $135 million derivatives profit. After additional evidence of accounting misstatements, the company’s chief executive and founder, Calisto Tanzi, resigned on the 15th of December. Four days later, the company disclosed the fake Bank of America letter. On the 23rd of December, Italian investigators stated that the company had used dozens of offshore companies to report non-existent assets to offset themselves. This was as much as $11 billion in liabilities. Also, this is in addition to the fact that Parmalat might have been falsifying its accounting figures for as long as 15 years.

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Dibra, Rezart. "The view on corporate governance in transition economies: executive compensation in Croatia. Corporate governance in Macedonia and Romania." Corporate Ownership and Control 11, no. 4 (2013): 806–17. http://dx.doi.org/10.22495/cocv11i1c9art5.

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Corporate governance issues are especially important in transition economies, since these countries do not have the long-established financial institution infrastructure to deal with corporate governance issues. Before the fall of the Berlin Wall and the collapse of the Soviet Union, there was no need to discuss corporate governance issues because all enterprises were owned by the state and there were no shareholders. All that has changed since 1989. This paper discusses the view on corporate governance in some transition economies. Highly limited knowledge on executive pay in (post)transition economies creates demand for research in this filed; this paper explores executive compensation structure in Croatia. The research was conducted among Croatian public limited companies during December 2010 through February 2011 at a response rate of 18,44%. Paper also covers specificities of the development of the corporate governance structures and practices in the Republic of Macedonia.

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Ofurum, Ugonna Augustina, and Justin Mgbechi Odinioha Gabriel. "Multidimensional Ethical Dilemmas of Contemporary Organizations: A Literature Review." INTERNATIONAL JOURNAL OF INNOVATION AND ECONOMIC DEVELOPMENT 5, no. 3 (2019): 7–18. http://dx.doi.org/10.18775/ijied.1849-7551-7020.2015.53.2001.

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This paper reviewed the literature on ethics, ethical theories, ethical principles; as well as the implications of unethical practices in organizations. The study revealed that unethical business practices have devastating consequences on organizations; since they result in poor corporate image, financial losses; market failures and sometimes complete corporate collapse. It was further observed that corruption, bad leadership, poor corporate governance, conflict of interest, lack of accountability, inadequate CSR, abusive and intimating behaviors among others are common in most organizations. The paper concludes that it is beneficial and in the enlightened self -interest of organizations to adopt good ethical practices. The paper also recommends that managers’ should ensure that ethical standards are crafted in their business philosophy and strategic intents in order to build and maintain a good corporate image.

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Auke, Elise, and Ana Simaens. "Corporate responsibility in the fast fashion industry: how media pressure affected corporate disclosure following the collapse of Rana Plaza." International Journal of Entrepreneurship and Innovation Management 23, no. 4 (2019): 356. http://dx.doi.org/10.1504/ijeim.2019.10021652.

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Karacsony, Peter. "Analysis of the relationship between the ethical behaviour of board and corporate governance in the case of India." Economic Annals-ХХI 185, no. 9-10 (November 21, 2020): 39–47. http://dx.doi.org/10.21003/ea.v185-04.

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Corporate governance has emerged as a very significant tool in business life. Across the world, it is a buzz topic, everybody who has anything to do with the corporate sector talks about corporate governance. In the last decades, the aftermath of corporate scandals and scams leading to the collapse of corporate entities showed need for good corporate governance in India, too. Today, Indian companies are finding new space in global markets for business growth, their interaction with the financial markets and investing community witnessed a significant surge, which ultimately demands effective corporate governance practices. Corporate governance is holding the balance between economic and social goals as well as between individual and community goals. The overall purpose of the study is to provide an overview of corporate governance in India and show how important the leader’s ethical behaviour in corporate governance is. I hypothesized that the ethical behaviour of the board of directors has a significant impact on corporate governance. For the research, I obtained data from the World Economic Forum Competitiveness Report for 38 Asian countries, focusing on India. The methodology I used to analyze data was regression analysis. The results reveal that the ethical behaviour of the board has significant positive effects on corporate governance. An ethical leadership should be employed at Indian companies to mainstream corporate governance to achieve high organizational performance.

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Kulhari, Deepika. "Examination of Historical Advancement of Corporate Governance in India– Contemporary Issues and Way Forward." Qubahan Academic Journal 1, no. 3 (June 24, 2021): 14–19. http://dx.doi.org/10.48161/qaj.v1n3a73.

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In the Era of Globalised world, the importance of Fair Corporate Governance policies has been recognized by different countries. From collapse of Wallpaper Group Coloroll in UK, Enron Scandal in US and Satyam Scam in India, all of these countries have witnessed some of the largest Corporate Scams. With the help of good Corporate Governance Policies, a country can protect its economy and investment made therein. It encourages shareholders to invest in capital market and ensure safety of their investment. In India, the corporate governance and its basic pillars on which governance stands i.e. Transparency, Accountability and Fairness, were introduced through Clause 49. This was done only after it was recommended by the Kumar Mangalam Committee. Yet, subsequently the shocking event of Satyam Scam & other Corporate Governance failure continues to hit Indian economic on various occasions. This paper will analyse the past experience of some of the famous scams happened in India specifically in past one decade and the lessons learnt thereby. The paper furthermore discusses the current legal issue and the challenges faced by Corporate Governance practices in India. Keywords - Corporate Governance, Corporate Scam, SEBI.

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Barth, James R., Susanne Trimbath, and Glenn Yago. "Before the Enron Collapse: What Corporate CFOs Around the World Said About the Status of Accounting and Disclosure Practices." Review of Pacific Basin Financial Markets and Policies 06, no. 04 (December 2003): 433–40. http://dx.doi.org/10.1142/s0219091503001158.

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Corporate Chief Financial Officers (CFOs) in many countries at different levels of development and in various parts of the world considered financial statement disclosure and corporate corruption to be serious corporate problems long before the Enron debacle. This paper presents the results of a survey of CFOs conducted across 40 countries during the fall of 2000 and the spring of 2001. Most of the respondents, including those in the United States, considered the lack of adequate disclosure of information by companies to be a bigger issue than either corrupt business practices or a lack of effective accounting guidelines. Only in the United Kingdom did more CFOs consider the lack of effective accounting guidelines to be an issue of more concern than the lack of disclosure.

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Ogbuozobe, Fidelis. "A consideration of the impact of the Companies and Allied Matters Act (1990) and the Insurance Act (2003) on the board of insurance companies in Nigeria. Part 1." International Journal of Law and Management 51, no. 5 (September 11, 2009): 336–58. http://dx.doi.org/10.1108/17542430910988928.

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PurposeThis paper (which is Part 1 of 2) seeks to explore the development and implementation of good corporate governance in the financial services industry in Nigeria.Design/methodology/approachThe paper reflects upon the identification of current problems and official legislative responses in Nigeria and tests the policy and theory against actual responses and practices.FindingsWith the collapse of such mega companies as Enron in the USA and the near‐collapse symptoms observed in such a relatively big company as Cadbury Nigeria, such research as this, on the issue of compliance or otherwise with corporate governance practices by organizations, could not have been undertaken at a more appropriate time than now. Considering the ever‐increasing scope and complexity of the subject, which cannot be covered by a single project, the particular focus here is on the impact of the Companies and Allied Matters Act (1990) and the Insurance Act (2003) on the Boards of insurance companies in Nigeria. In other words, do the said statutes contain sufficient provisions and sanctions to ensure effective performance by Boards of insurance companies in Nigeria?Originality/valueWhile this research paper may not claim to fill this gap completely, it is hoped that it will create sufficient awareness to serve as a springboard for effective entrenchment and enforcement of corporate governance practices in the Nigerian financial services industry (including insurance) in particular and the economy in general.

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Salia, Hussein, Emmanuel Budu Addo, and Nicholas Adoboe-Mensah. "The role of an audit committee in bank solvency: An emerging market case." Journal of Governance and Regulation 8, no. 1 (2019): 38–46. http://dx.doi.org/10.22495/jgr_v8_i1_p3.

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Recent discourse on corporate failures gives prominence to the impact of weak corporate governance systems in most corporate entities, hence reasons for investors and creditors pessimism. This literature review article seeks to articulate how audit committee could strengthen corporate governance in organizations. The paper reviews the guidelines developed by the Bank of Ghana to curb the degeneration of the Banking sector in Ghana following the collapse of seven indigenous banks between 2017 and 2018. The objective of this paper is to underscore the effective functioning of audit committees as a panacea to the corporate governance weaknesses in Ghana. The paper observes that albeit the Bank of Ghana, as a regulatory body, underscored weak corporate governance systems – it failed to emphasize mechanisms for strengthening audit committees in its guidelines to regulate the sector. The paper, therefore, promotes the presence and effective functioning of the audit committees as an additional layer to strengthen the monitoring and supervisory functions within corporate bodies. It recommends that the Bank of Ghana must emphasize the establishment of audit committees as a core part of corporate governance systems of all banks to ensure that the interest of all stakeholders is protected adequately through the oversight role of the audit committees.

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Yuying, Zhou, and Wang Yuyu. "Social Responsibility, Institutional Environment and Stock Price Crash Risk: Evidence from Chinese GEM." Journal of Business Theory and Practice 9, no. 2 (April 20, 2021): p1. http://dx.doi.org/10.22158/jbtp.v9n2p1.

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The stock price crash risk has become the focus of corporate finance and macroeconomics research in recent years because it affects the stock market, listed companies, market investors and the real economy. This paper takes 1822 gem listed companies from 2011 to 2017 as samples, and empirically tests the impact of social responsibility on the risk of stock price collapse and takes into account the regulatory effect of institutional environment. The study finds that social responsibility can inhibit the stock price collapse risk of listed companies on the growth enterprise market, and the institutional environment can also inhibit the risk of stock price collapse of listed companies on the growth enterprise market. Considering the influence of the institutional environment, the influence of social responsibility on the risk of stock price collapse of listed companies on the growth enterprise market is more obvious, which shows that the institutional environment has a moderating effect between social responsibility and the risk of stock price collapse. This conclusion still exists after considering the endogenous influence. Further research shows that the inhibiting effect of social responsibility and the regulating effect of institutional environment are more obvious among gem listed companies in the first year of listing.

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Ourdi, Asmae, Abdellatif Taghzouti, and Salmane Bourekkadi. "CSR practices in countries in transition: the case of Morocco." E3S Web of Conferences 319 (2021): 01036. http://dx.doi.org/10.1051/e3sconf/202131901036.

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This research aims to present a global vision on corporate social responsibility (CSR) in the context of a country in transition such as Morocco, CSR is defined as a set of economic practices characterized by transparency, ethical transactions, openness to the outside world and respect for employees and society. while placing great importance on the environment. In the context of climate change and the collapse of biodiversity, corporate social responsibility brings sustainable value to society and shareholders. For this article, we relied on an analytical approach, collecting, analysing, and discussing academic papers relating to the subject matter, and more specifically focussing on a few cases in Morocco. Among the results we have achieved, is the identification of some of the challenges facing the application of corporate social responsibility in Morocco.

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Raniero, Christian, and Giuseppe Modarelli. "Corporate Social Responsibility and Reciprocity Relations during Covid-19." Symphonya. Emerging Issues in Management, no. 2 (November 13, 2021): 118–41. http://dx.doi.org/10.4468/2021.2.10rainero.modarelli.

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This research work opens an interpretative view on corporate social responsibility (CSR) during an unexpected emergency reality and latent environmental collapse as a strategy to survive. The investigation approach follows the lines of a field analysis survey based on 288 consumers before (n=80) and during the spread of Covid-19 (n=208). The study aims to provide paradigms and interpretations of evidence-based CSR as a balanced reciprocity relationship in coping emergencies; this necessarily moved the authors to investigate the relationship transversally, examining the role of budgeting and its repercussions on well-being by hierarchical leadership. Specifically, the authors investigate the existence of possible niches of actions based on cooperative and responsible operations during emergencies.

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Boothman, Barry E. C. "High Finance/Low Strategy: Corporate Collapse in the Canadian Pulp and Paper Industry, 1919–1932." Business History Review 74, no. 4 (2000): 611–56. http://dx.doi.org/10.2307/3116469.

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The development of the pulp and paper sector has been a highly controversial subject in Canadian business history. During the 1920s, there was a rapid growth of capacity (which reached twice the level of market demand) and a series of mergers as different firms sought to attain giant size. By 1928 several leading companies were experiencing difficulties, and by 1932 half of the producers were bankrupt while the remainder hovered on the brink of insolvency. These developments had their own logic and were driven by strategic issues and the formation of an institutional market for industrial securities. As corporate executives propelled their firms into dubious strategies characterized by excess production and unrealistic dividend policies, the status of the newsprint producers was obscured from investors by financial and accounting practices, thereby contributing to a flood of investment, which was followed by corporate collapse. The attempts to reorganize the companies began a complex process that lasted anywhere from several years to more than a decade.

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Bujaki, Merridee Lynne, and Sylvain Durocher. "Managing legitimacy following loss of human life: Loblaw and Rana Plaza." Sustainability Accounting, Management and Policy Journal 11, no. 6 (November 17, 2019): 1023–53. http://dx.doi.org/10.1108/sampj-09-2018-0255.

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Purpose This qualitative paper is about social reporting in response to an incident that involved the loss of human life. It examines Loblaw’s disclosures following the Rana Plaza building collapse that killed over 1,100 Bangladeshi workers. Design/methodology/approach This article draws on Suchman’s (1995) comprehensive legitimacy typology to interpret Loblaw’s disclosures about the collapse in both mass media coverage of the tragedy and the company’s quarterly, annual and corporate social responsibility (CSR) reports. Findings Loblaw worked on many fronts to secure stakeholders’ support in the aftermath of the fatal incident. Through their social disclosures, Loblaw simultaneously managed exchange, dispositional, consequential, procedural, structural, personal and cognitive legitimacy, striving to demonstrate that, notwithstanding the incident, the company was still conforming to its social contract. Practical implications This research operationalizes all aspects of Suchman’s legitimacy typology in the context of social reporting. In particular, the paper further develops the concept of cognitive legitimacy. This should be of benefit to other CSR researchers. Social implications The loss of human life during business operations is one of the most terrible events an organization can face. Corporate activities leading to loss of human life are obviously far from being socially acceptable. Stakeholders are likely to disapprove such activities and reconsider their support, which can threaten the survival of the organization. It is thus of utmost importance to understand the strategies used by corporate managers in their attempt to secure ongoing stakeholder support. Originality/value This paper innovates by focusing specifically on social disclosures about a negative event. In so doing, it also contributes to a small, but important, literature within CSR research that examines incidents resulting in the loss of human life. The paper adapts and applies Suchman’s legitimacy framework to interpret social reporting in response to a specific instance of loss of life, the Rana Plaza building collapse. Finally, this paper mobilizes the notion of cognitive dissonance to further develop Suchman’s notion of cognitive legitimacy.

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Hendershott, Terrence, Roman Kozhan, and Vikas Raman. "Short Selling and Price Discovery in Corporate Bonds." Journal of Financial and Quantitative Analysis 55, no. 1 (December 3, 2018): 77–115. http://dx.doi.org/10.1017/s0022109018001539.

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We show short selling in corporate bonds forecasts future bond returns. Short selling predicts bond returns where private information is more likely, in high-yield bonds, particularly after Lehman Brothers’ collapse of 2008. Short selling predicts returns following both high and low past bond returns. This, together with short selling increasing following past buying order imbalances, suggests short sellers trade against price pressures as well as trade on information. Short selling predicts bond returns both in the individual bonds that are shorted and in other bonds by the same issuer. Past stock returns and short selling in stocks predict bond returns but do not eliminate bond short selling predicting bond returns. Bond short selling does not predict the issuer’s stock returns. These results show bond short sellers contribute to efficient bond prices and that short sellers’ information flows from stocks to bonds but not from bonds to stocks.

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Keaney, A. T. "THE EMERGENCE OF CORPORATE SOCIAL RESPONSIBILITY—ISSUES FOR THE AUSTRALIAN OIL AND GAS SECTOR." APPEA Journal 43, no. 1 (2003): 717. http://dx.doi.org/10.1071/aj02042.

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Recent times have seen a rise in expectations in companies’ accountability as good corporate citizens. This trend has seen an increased emphasis on corporate governance and director liability. Further disclosure is now required and/or expected against a number of measures including environmental adherence, community activities and employee relations.At the same time companies are now subject to heightened shareholder activism as well as the growth of ethical investment funds which require companies to meet certain standards of corporate behaviour before they will invest.With the recent collapse of several major Australian companies and the consequent scrutiny of their corporate behaviour, and the revelation of instances of massive levels of corporate impropriety in the US, the above trend can be expected to grow. This paper discusses:the main platforms of corporate responsibility currently on the public agenda including:good corporate governance and director liability;environmental responsibility (sustainability rather than compliance); andother areas of social responsibility including treatment of employees and preservation of employee entitlements;the regulatory issues surrounding corporate responsibility, in particular under the Corporations Act;the risks and rewards of engaging in or ignoring this process. The risks might include potential director liability and public relations issues. The rewards may include access to additional public and private capital; andissues in this debate of particular relevance to the upstream oil and gas sector.

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Boubaker, Sabri. "Editorial: Advances in corporate governance practices." Corporate Board role duties and composition 17, no. 1 (2021): 4–6. http://dx.doi.org/10.22495/cbv17i1editorial.

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Corporate governance has gone through three decades of profound changes in terms of new regulations, new practices, and environmental conditions. Many countries drafted guidelines for best corporate governance practices following Cadbury report (Cadbury, 1992). These practices were mainly related to the board of directors (composition and functioning), internal controls, and internal audit. The Enron scandal followed by the collapse of Arthur Andersen, one of the big five audit firms, and the enactment of the “Public Company Accounting Reform and Investor Protection Act” (Sarbanes-Oxley law) in 2002 were other milestones in the evolution of corporate governance. This law brought about significant changes related to public company accounting oversight, auditor independence, financial disclosure, and corporate responsibility. The financial crisis in 2008 started in the United States and has shaken the world economy. This crisis was due to weak corporate governance that led to fraudulent financial reporting and excessive risk-taking. Grove and Victoravich (2012) consider CEO duality, lack of board independence, weak management control systems, short-termism, weak codes of ethics, and opaque disclosures among the main drivers of this crisis. The COVID-19 has consistently shown that firms with better corporate governance and corporate social responsibility practices were the most resilient entities during the first quarter of the pandemic (Ramelli & Wagner, 2020). All these topics are addressed in this collection of high-quality research papers of this year’s first issue of Corporate Board: Role, Duties, and Composition.

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Taj, Saud Al. "The Royal Bank of Scotland and Its Reputational Decline: A Case Study." Business and Management Horizons 3, no. 2 (August 7, 2015): 13. http://dx.doi.org/10.5296/bmh.v3i2.7974.

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After decades of success in the global banking industry, the Royal Bank of Scotland fell to the brink of its collapse in 2008 owing to the recent global financial crisis that entirely shook the financial sector of the United Kingdom. The man whose leadership was once acknowledged for the remarkable success of the bank, former CEO Sir Fred Goodwin, was held entirely responsible for the collapse owing to his decisions of hostile acquisition of the ABN-Amro bank and pushing the banking industry into ‘filthy’ executive pay and bonus culture. The case study will review the evidence from 2000-2009 to discuss the rise and fall of the royal bank in the light of the corporate governance failures during the difficult times of global recession.

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Woolfson, Charles, and Arunas Juska. "Neoliberal Austerity and Corporate Crime: The Collapse of the Maxima Supermarket in Riga, Latvia." NEW SOLUTIONS: A Journal of Environmental and Occupational Health Policy 24, no. 2 (August 2014): 129–52. http://dx.doi.org/10.2190/ns.24.2.b.

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Duarte, Fernanda. "Spivs, Shonks and Sharks: The HIH Collapse as a Moral Tale of Corporate Capitalism." Social Responsibility Journal 2, no. 3/4 (March 2006): 282–90. http://dx.doi.org/10.1108/17471117200600005.

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Wyburn, Mary. "Pooling as a response to the competing interests in corporate group collapse in Australia." International Insolvency Review 19, no. 1 (March 11, 2010): 65–97. http://dx.doi.org/10.1002/iir.181.

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KHAN, MUHAMMAD TAHIR, IHTESHAM KHAN, and SHAH RAZA KHAN. "The Impact of Corporate Governance on Earning Management of Non-Financial Firms: Evidence from Pakistan." International Review of Management and Business Research 10, no. 1 (March 8, 2021): 304–12. http://dx.doi.org/10.30543/10-1(2021)-26.

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The main objective of the firm is to maximize the shareholder’s wealth; to achieve this objective the management indulge the earnings information by manipulation practices such practices reduce investors’ confidence. Furthermore, a hypothetical dispute recommends that a better quality of financial reporting reduce the information asymmetry, by refining the corporate governance compliance, result in reducing earnings management practices. Thus the main aim of this study is to explore the impact of corporate governance on earnings management by using panel data sample of 257 non-financial firms listed in Pakistan stock exchange for the period of 2012 to 2019 through Fixed effect model along with control variables. The results disclose that the CG system of Pakistan negatively and significantly impacts the EM activities of the companies registered in Pakistan stock exchange. Hence, concludes that the CG system is more effective to prevent the EM process. The entire results are seamless with prior research work that the effective CG scheme of the firms controls the EM and collapse of businesses. Keywords: Earnings Management, Corporate Governance, Corporate Governance Index.

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Journal articles on the topic 'Corporate collapse'

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