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Journal articles on the topic 'Duties of corporate disclosure'
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1
Triyanto, Dedik Nur, and Lutfi Kurniatir Rohmah. "Characteristics of Islamic Corporate Social Responsibility (ICSR) Disclosures." Indonesian Accounting Review 12, no. 1 (January 7, 2022): 29. http://dx.doi.org/10.14414/tiar.v12i1.2605.
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The company’s CSR activities illustrate that, in addition to carrying out its operational activities, the company is also responsible for the sur-rounding environment. This sharia-based social performance reporting is assessed based on the sharia index developed by AAOFI (Accounting and Auditing Organization for Islamic Financial Institutions). The purpose of this study was to determine the effect of public share ownership, firm size, leverage, profitability, and corporate governance on the disclosure of Islamic Corporate Social Responsibility (ICSR). The sample was taken from 12 sharia companies registered in the Jakarta Islamic Index (JII) for the 2015-2020 period using a purposive sampling technique. The data were analysed using panel data regression analysis through the EViews 11 application. Firms and profitability affect Islamic Corporate Social Responsibility (ICSR) disclosures, and public share ownership has a negative effect on ICSR disclosures, while leverage and corporate governance variables do not affect Islamic Corporate Social Responsibility (ICSR) disclosures. Based on the results of this study, it is expected that elements in corporate governance can carry out their duties and responsibilities in carrying out their duties so that ICSR disclosure is carried out better.
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Siswanti, Indra, and Embun Prowanta. "The Model Disclosure of Islamic Social Reporting in Islamic Bank Indonesia." MIX: JURNAL ILMIAH MANAJEMEN 12, no. 1 (February 26, 2022): 31. http://dx.doi.org/10.22441/jurnal_mix.2022.v12i1.003.
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Objectives: The purpose of this study is to analyze the determinants of the disclosure of Islamic Social Reporting in Islamic banks in IndonesiaMethodology: The population in this study are Islamic banks in Indonesia which amounted to 14 (fourteen) in total, while the sample used was 9 (nine) Islamic banks that have met the criteria, namely Islamic banks that have published financial reports, annual reports and corporate governance reports between the period of period 2015-2019.Finding: The results of this study indicate that compliance with sharia principles, duties and responsibilities of the sharia supervisory board have a significant positive effect on the disclosure of ISR whereas financial performance has no effect on the disclosure of ISR. Corporate governance has shown moderate effect of compliance sharia on the disclosure of ISR, while Corporate governance does not moderate effect of duties and responsibilities of sharia supervisory board on disclosure of ISR and Corporate governance moderate effect of financial performance on the disclosure of ISR.Conclusion: It is important for the Islamic banks in Indonesia to maintain compliance sharia principles, and to increase the role of sharia supervisory boards, financial performance and the implementation of corporate governance.
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Oraee-Mirzamani, Nikzad. "Corporate Environmental Disclosure Law, Fiduciary Duties and the Aarhus Convention." European Energy and Environmental Law Review 20, Issue 1 (February 1, 2011): 18–29. http://dx.doi.org/10.54648/eelr2011002.
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Bruno, Sabrina. "Climate Corporate Governance: Europe vs. USA?" European Company and Financial Law Review 16, no. 6 (December 6, 2019): 687–723. http://dx.doi.org/10.1515/ecfr-2019-0027.
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According to economic literature, climate change is a financial factor: this is the logical premise of the European Directive N. 2014/95/EU requiring disclosure on the policies adopted by big corporations on climate change risks and opportunities. Through disclosure, climate change imprints the contents of directors’ duty of skill and care in Europe. On the contrary, in US there is no federal legislation or SEC regulations specifically on climate disclosure. Absent any binding decision yet, the current assessment of directors’ fiduciary duties under state law does not include consideration of climate change risks and opportunities according to American authors, even though fiduciary duties may evolve. The sole effective tool is the Martin Act. Levels of disclosure of US and EU corporations are therefore already significantly different both in terms of climate risks and opportunities. This situation can drive the financial sector to direct capital to Europe. Institutional investors in US have been trying to increase disclosure through shareholders’ proposals under Rule 14a-8 but these efforts have been recently undermined by the micro-management argument used by SEC. The conclusion is that the market cannot govern climate change by itself: because of regulation, European corporations are better positioned to mitigate the “carbon bubble”. What is at stake is the profitability of American corporations.
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Prigge, Stefan, and Dmytro Govorun. "Editorial." Corporate Board role duties and composition 14, no. 1 (2018): 4–5. http://dx.doi.org/10.22495/cbv14i1_editorial.
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The recent issue of the journal “Corporate Board: Role, Duties and Composition” is devoted to the issues of integrated reporting, board diversity, cultural dimensions, boards of directors mechanism, corporate social responsibility, corporate communication, corporate disclosure, social media, corporate control, auditing, accounting etc.
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Bunting, William C. "A Simple Model of Corporate Fiduciary Duties: With an Application to Corporate Compliance." Review of Law & Economics 17, no. 3 (November 1, 2021): 583–614. http://dx.doi.org/10.1515/rle-2021-0013.
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Abstract This article models the duty of care as a response to moral hazard where the principal seeks to induce effort that is costly to the agent and unobservable by the principal. The duty of loyalty, by contrast, is modeled as a response to adverse selection where the principal seeks truthful disclosure of private information held by the agent. This model of corporate loyalty differs importantly with standard adverse selection models, however, in that the principal cannot use available contracting variables as a screening mechanism to ensure honest disclosure and must rely upon the use of an external third-party audit technology, such as the court system. This article extends the model to the issue of corporate compliance and argues that the optimal judicial approach would define the duty to monitor as a subset of due care – and not loyalty – but hold that the usual legal protections provided for due care violations no longer apply.
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Saputri, Rifka Kurnia Indah, and Febrial Pratama. "PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY (CSR), DISCLOSURE BREADTH, DAN DISCLOSURE DEPTH TERHADAP CORPORATE FINANCIAL PERFORMANCE." Jurnal Akuntansi Bisnis dan Ekonomi 6, no. 1 (September 30, 2020): 1577–88. http://dx.doi.org/10.33197/jabe.vol6.iss1.2020.468.
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One of the companies that has good quality can be judged by looking at the Corporate Financial Performance (CFP) of a company. CFP is the result that has been achieved by the company management in carrying out its duties and functions effectively and efficiently by using proper and correct financial implementation rules. In this study, the ratio used to measure CFP is Earnings Before Interest Tax Depreciation and Amortization (EBITDA).This study aims to determine the disclosure of Corporate Social Responsibility (CSR) using the GRI G4 standard, Disclosure Breadth in disclosing the CSR theme and Disclosure Depth in sentences that are recorded based on interested parties (stakeholders) on CFP (EBITDA) in non-public state-owned oil companies and gas listed in OK Stock for the period 2011-2018.The population in this study were non-public state-owned oil and gas companies listed in OK Stock for the period 2011-2018. The sample selection technique used purposive sampling and obtained 4 non-public state-owned oil and gas companies over a period of 8 years so that 32 samples were observed. The data analysis method in this research is panel data regression using Eviews 10 software.The results showed that simultaneously CSR disclosure, disclosure breadth and disclosure depth have an effect on CFP. Partially disclosure breadth and disclosure depth do not have a significant effect, while CSR disclosure has a significant positive effect on CFP.Based on these results, stakeholders need to pay attention to the composition of CSR disclosure, both in terms of the breadth of disclosure and the depth of disclosure of the company so that the company can convince stakeholders to minimize the risks that will occur, maximize profitability and the objectives of all parties. reached.
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Larasati, Desi, and Asrori Asrori. "The Effect of Corporate Governance Mechanisms, Capital Structure and Firm Size on Risk Management Disclosure." Accounting Analysis Journal 9, no. 1 (July 29, 2020): 60–66. http://dx.doi.org/10.15294/aaj.v9i1.20956.
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This study aims to determine the effect of the duties and responsibilities of directors, institutional ownership, managerial ownership, capital structure and firm size on RMD in an Islamic banks. The population in this study is the Islamic Banks in Indonesia. There is 35 annual reports of Islamic banks as samples. The analytical method used is multiple linear regression analysis using SPSS tool. The results showed that the firm size significant positive effect on RMD. While the other variables are the duties and responsibilities of directors, institutional ownership, managerial ownership and capital structure does not affect the RMD. Researchers further advised to analyze other factors that may affect the RMD on Islamic banks such as the duties and responsibilities of the board of commissioners.
Keywords: Risk Management Disclosure (RMD), Mechanism Corporate Governance, Duties and Responsibilities of Directors, Institution Ownership, Management Ownership, Capital Structure, Firm Size.
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Kurniawanto, Hudi. "The Effect Board Characteristics On Enterprise Risk Management Disclosures: Evidence from State-Owned Enterprise In Indonesia." Archives of Business Research 8, no. 12 (January 15, 2021): 230–37. http://dx.doi.org/10.14738/abr.812.9525.
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The purpose of this study is to examine the effect of corporate governance, namely board characteristics on enterprise risk management disclosure. The research object of State-Owned Enterprises listed on the Indonesia Stock Exchange in 2018-2019, with a total sample of 40 annual reports with purposive sampling technique and multiple regression analysis. The results of this study prove that board size no effect on enterprise risk management disclosure, while board independence effect enterprise risk management disclosure. This shows that the commissioners understand and carry out their duties as an independent party in supervising, directing, and evaluating the implementation of corporate governance and corporate strategic policies so that Board Independence in State-Owned Enterprises in Indonesia functions properly.
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Mustafa Khan, Nurul Jannah, and Hasani Mohd Ali. "Regulations on Non-Financial Disclosure in Corporate Reporting: A Thematic Review." Sustainability 15, no. 3 (February 3, 2023): 2793. http://dx.doi.org/10.3390/su15032793.
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There is a growing call globally for corporations to improve transparency in corporate reporting, along with the surge of enhancing disclosure of non-financial information. Companies are seen as agents for contributing to a better future, and hence could assist in achieving the sustainable development goals (SDGs) 2030, via transparent non-financial disclosure. This review paper is premised on the fact that laws on non-financial disclosure may be useful in enhancing the transparency of companies’ conducts. Hence, this systematic review aims to synthesize the literature from 2014 to 2021 on the patterns and trends relating to regulations on non-financial disclosure in corporate reporting by companies. A keyword search followed by filters provided by the Web of Science Core Collection and SCOPUS databases resulted in a total of 369 documents being found. A total of 62 articles were reviewed after manual filtering and exclusion. A thematic review of these 62 articles identified 20 initial codes, which were then grouped into eight clusters: Directive 2014/95/EU, disclosure approaches, fiduciary duties of directors, stakeholder engagement, the effectiveness of disclosure regulations, the impacts of rules, the role of different actors and corporate accountability. The paper finds that the patterns and trends in the review set the path for future research on laws of non-financial disclosure, as they serve as a guideline for researchers for future studies.
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Karim Miajee, Md Rezaul. "The American National System of Corporate Governance." International Journal of Shari'ah and Corporate Governance Research 1, no. 1 (October 21, 2018): 3–21. http://dx.doi.org/10.46281/ijscgr.v1i1.56.
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Introduction Corporate governance (CG) has recently been extensively discussed, intensely debated and variously defined in the United States. For the purposes of this chapter, CG shall mean the internal arrangements within a corporation intended to provide reasonable assurances that corporate directors and officers make and implement decisions in accordance with their duties of care and loyalty to their corporations. CG in the United States is often associated with the recent initiatives taken in the wake of corporate scandals such as Enron and MCI. While the recent initiatives are undoubtedly important, their significance can best be understood in the context of the existing frameworks under corporate and securities law. The current initiatives in the United States (i.e. the recently adopted CG provisions in the listing requirements for the New York Stock Exchange (NYSE) – and the provisions of the Sarbanes–Oxley Act of 2002 – often called “Sarbanes– Oxley”) in important ways simply add to the governance measures already in place pursuant to corporate law and securities regulation in the United States. Only after understanding foundations in corporate law and securities regulation in the United States is it possible to understand the significance, and the limitations, of the recently adopted NYSE listing requirements and of Sarbanes–Oxley. In general, the recent NYSE initiatives attempt to improve the degree of independence among directors of corporations listed there so that they are better able – and more likely – to meet the performance standards currently applicable to directors under corporate law (i.e. duties of care and loyalty), but the NYSE does not change those standards. Unfortunately, the NYSE listing requirements do not have the force of law. Sarbanes–Oxley, on the other hand, in general, attempts to improve the independence of external auditors and corporate directors so that they are better able – and more likely – to prepare public disclosures in form and substance required by US securities regulations. There are also provisions intended to enhance the care with which corporate officers prepare required public disclosures. Unfortunately, Sarbanes–Oxley applies only to disclosure requirements under US securities regulations. With limited exceptions, Sarbanes–Oxley is not specifically intended to apply to directors’ or officers’ broader obligations to their corporations or the standards applicable to their performance of those obligations.
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Rose, Kalle Johannes. "Disclosing anti-money launderers through CSR regulation – a new way to combat money laundering." Journal of Money Laundering Control 23, no. 1 (January 8, 2020): 11–25. http://dx.doi.org/10.1108/jmlc-07-2019-0062.
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Purpose Recent research questions the innocence of companies outside the current EU money laundering regulation in terms of contributing to the externality problem of money laundering. The purpose of this paper is to examine how including anti-money laundering as an element of the EU corporate social responsibilities (CSR) directive can contribute to solving the externality problem of money laundering. Based on the principles of CSR and the economic effects of disclosure duties, this paper analyzes the implications an introduction of anti-money laundering policies and disclosure duties can have on corporate clients and the combatting against money laundering. Furthermore, it is the intention of this paper to argue how such a regulatory change can help the financial companies dividing “good” and “bad” clients to prevent money laundering from happening. Design/methodology/approach The method of this paper is a functional approach to law and economics. It seeks to enhance the efficiency of the regulatory framework combatting money laundering by including economic incentive theory. Findings Based on the regulatory framework of the fourth anti-money laundering and counter terrorist financing directive and the directive on criminalizing money laundering, this paper argues that inclusion of anti-money laundering in the EU CSR directive will contribute to solving the externality problem of money laundering in the EU. Additionally, the expansion of the regulatory framework can start a culture, where corporate clients to the financial sector will take active steps toward combatting money laundering. Originality/value The paper identifies a way to change the corporate perception of anti-money laundering prevention from having an incentive of minimal compliance/“race-to-the-bottom” to be a possible element of competition between companies through their CSR strategy. While most research focuses on the financial sector in terms of money laundering, this paper takes the next step and includes corporate clients in the financial sector.
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Urazova, Hanna. "The Doctrine of Fiduciary Obligations in Corporate Law Through the Prism of Fiduciary Legal Relations and the Principles of Justice, Conscience, Reasonableness and Loyalty." Problems of legality, no. 158 (September 30, 2022): 47–62. http://dx.doi.org/10.21564/2414-990x.158.262242.
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Topicality. The relevance of the study is due to the lack of a single approach to understanding fiduciary legal relations in civil studies, which prevents the disclosure of the essence of the doctrine of fiduciary duties; insufficient analysis of the concept of "fiduciary duties", which makes it impossible to determine the content of duties arising from the subject of fiduciary legal relations; the lack of clarification of the essence of the doctrine of fiduciary duties, which prevents its full application to the regulation of civil legal relations, the prosecution of persons who have fiduciary duties. The purpose of the article is to reveal the essence of the doctrine of fiduciary duties through the prism of fiduciary legal relations and the principles of civil law, in particular, justice, good faith, reasonableness and loyalty, using the example of corporate law. Research methods. A complex of methods was used in the study of the problem. The theoretical and methodological basis is dialectical, historical and comparative methods, with the help of which the processes of formation, development and application of the doctrine of fiduciary duties in Ukraine and foreign countries were investigated and a complex conceptual and categorical apparatus of this doctrine was developed. Methods of analysis, synthesis, logical generalization, scientific abstraction, and formal-logical methods were used. Using the classification method, groups of fiduciary duties were identified. The method of theoretical generalization made it possible to establish subjects that have fiduciary duties. Results. An analysis of fiduciary legal relations, their relationship with the doctrine of fiduciary duties, the mechanism of functioning of the latter in the Romano-Germanic and Anglo-American legal systems was carried out; special legal methods of interpretation of legal norms, with the help of which the conceptual principles of the functioning and development of the doctrine of fiduciary legal relations, as well as the directions of its practical implementation in judicial practice, are defined; the norms of the current legislation relating to fiduciary duty in corporate law, the application of the doctrine of fiduciary duty in the practice of the Supreme Court were investigated; the components of the doctrine of fiduciary duties are defined: fiduciary legal relations, fiduciary powers, fiduciary duties, principles of justice, good faith, reasonableness and loyalty; the essence of the doctrine of fiduciary duties in corporate law is revealed.
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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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Zhao, Jingchen. "Promoting more socially responsible corporations through a corporate law regulatory framework." Legal Studies 37, no. 1 (March 2017): 103–36. http://dx.doi.org/10.1111/lest.12140.
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This paper aims to lay the foundations for a more critical approach to the relationship between corporate social responsibility (CSR) and corporate law. Limitations on legislative approaches including directors’ duties, disclosure of information, sustainable decisions, direct promotion and corporate internal management structure are critically analysed, trying to find well thought-out and effectively implemented adjudication that provides meaningful instruction for regulating CSR. The paper explores the manner in which corporate law may contribute to accommodating CSR principles within corporate strategies, in order to establish a transformative legal regulatory framework within corporate law by using the authoritative legal mode to promote corporate regulatory mechanisms. The paper critically studies a few legislative measures supported by the relevant legislative experiences from various jurisdictions as examples of currently enforced CSR laws at national level, in order to offer comprehensive and potentially effective legislative suggestions for accommodating CSR elements. However, a ‘one size fits all’ approach is clearly not desirable, and these suggestions should be interpreted and implemented in a locally relevant manner, according to path dependence theory.
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Corda, Alessandro, and Sarah E. Lageson. "Disordered Punishment: Workaround Technologies of Criminal Records Disclosure and the Rise of a New Penal Entrepreneurialism." British Journal of Criminology 60, no. 2 (June 18, 2019): 245–64. http://dx.doi.org/10.1093/bjc/azz039.
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Abstract The privatization of punishment is a well-established phenomenon in modern criminal justice operations. Less understood are the market and technological forces that have dramatically reshaped the creation and sharing of criminal record data in recent years. Analysing trends in both the United States and Europe, we argue that this massive shift is cause to reconceptualize theories of penal entrepreneurialism to more directly address the role of technology and commercial interests. Criminal records, or proxies for them, are now actively produced and managed by third parties via corporate decision-making processes, rather than government dictating boundaries or outsourcing duties to private actors. This has led to what we term ‘disordered punishment’, imposed unevenly and inconsistently across multiple platforms, increasingly difficult for both government and individuals to control.
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Tsene, Chryssoula. "Corporate governance and board of directors in Greek listed companies." Corporate Board role duties and composition 13, no. 2 (2017): 38–45. http://dx.doi.org/10.22495/cbv13i2art4.
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Corporate governance is widely acknowledged as a key factor of market’s efficiency and corporate performance. Greek company law, under the influence of the financial crisis, has responded actively by incorporating in national law EU directives on corporate governance of listed companies and by adopting recently self-regulatory provisions. This regulatory framework contributes essentially to enhance board accountability and transparency, empower shareholder protection and promote financial disclosure. In that regard, two pillars should be illustrated as regards board of directors in listed companies: Greek company law provides traditionally for the establishment of the general duties of loyalty and care of all board members in companies limited by shares, which are furthermore reinforced by the provisions of the Hellenic Code of Corporate Governance for listed companies. Secondly, hard law rules introduce the participation of non-executive and non-executive independent directors as a legal mechanism of confronting agency problems in listed companies. These provisions have been strongly argued as regards the exact content of the obligations of all board members of listed companies to promote the corporate interest and especially as regards the monitoring role of non-executive directors. These conceptions should be followed by empirical researches in order to address a completely legal and functional approach.
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Mkumbuzi, Walter P. "Influence of Intellectual Capital Investment, Risk, Industry Membership and Corporate Governance Mechanisms on the Voluntary Disclosure of Intellectual Capital by UK Listed Companies." Asian Social Science 12, no. 1 (December 21, 2015): 42. http://dx.doi.org/10.5539/ass.v12n1p42.
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<p>This research examines the cross-sectional effect of intellectual capital investment, financial measures of market and company specific risk, industry membership and corporate governance on the extent of voluntary disclosure of intellectual capital (VDIC) in a sample of 443 FTSE All Share Index company annual reports for the year 2003/2004. The extent of disclosure is measured by a disclosure index (DI) based on intellectual capital (IC) attributes included in the narratives and illustrations of the annual reports. The research predicts that agency costs are mitigated by VDIC and that the benefits of signalling IC may outweigh competitive and proprietary costs that may be more prevalent in innovative and technological companies; furthermore, that effective corporate governance measures enhance VDIC particularly in those companies found to have a higher level of intangible assets (IA) in their resource base. The results suggest that companies associated with less financial risk, reduced debt, higher levels of liquidity and accompanied by growth are characterised with higher levels of VDIC. Although less significant, the results on market risk indicate a positive influence on VDIC. Furthermore, the extent of VDIC in annual reports is enhanced when large companies operating in high-tech and innovative industries are characterised by investments in employees; in contrast, companies associated with research and development processes tend to be more secretive with respect to VDIC. The results suggest that companies that are able to maintain adequate governance systems through segregation of executive and non-executive duties and to a less extent through the presence of experienced non-executive directors exhibit higher levels of disclosure.</p>
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Dell’Atti, Stefano, Stefania Sylos Labini, and Pasquale di Biase. "The effects of Solvency II on corporate boards: A survey on Italian insurance companies." Corporate Ownership and Control 16, no. 1-1 (2019): 134–44. http://dx.doi.org/10.22495/cocv16i1c1art3.
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Governance and the internal control system represent a fundamental pillar in the Solvency II Directive. In that context, the insurance companies’ board plays a key role in assuming new responsibilities and duties. The present work aims to examine the role of insurance companies’ boards in view of the important changes introduced by Solvency II. An empirical analysis is conducted on a sample of 102 Italian insurance companies. Three areas of investigation, size and composition, board self-assessment processes and board remuneration policies, are covered by the survey. The results show a satisfactory level of compliance of the boards with respect to the requirements established by Solvency II. There is still room for improvement as regards the level of disclosure and diversity. The paper contributes to deepen the understanding of Solvency II effects on the composition and functioning of insurance companies’ boards. In addition, the study provides, through the Italian case analysis, some indications on the likely future development of the insurance companies.
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Radhouane, Ikram, Mehdi Nekhili, Haithem Nagati, and Gilles Paché. "The impact of corporate environmental reporting on customer-related performance and market value." Management Decision 56, no. 7 (July 9, 2018): 1630–59. http://dx.doi.org/10.1108/md-03-2017-0272.
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Purpose The purpose of this paper is to illustrate the potential benefits for firms that report more on environmental activities, with regard to two important categories of stakeholders: shareholders and customers. Design/methodology/approach To avoid the endogeneity problem, the authors apply the system generalized method of moments approach by estimating the relationship between environmental reporting and firm performance with regard both to levels and first differences simultaneously. Findings Based on the 120 largest publicly traded companies in France from 2007 to 2011, results suggest that shareholders interpret and perceive firms’ environmental information disclosure differently than consumers. However, reporting on environmental duties is perceived favorably by both customers and shareholders for firms with better environmental performance. In the same way, an increase in the level of environmental reporting is valuable in terms of customer-related performance (i.e. sales growth and profit margin) and in terms of market value (i.e. Tobin’s q) for firms operating in customer proximity industries. In a supplementary analysis, the authors found that, for reporting on climate change (a component of the combined environmental reporting index), positive customer and shareholder perceptions are acquired in particular through superior environmental performance and proximity to the final customer. Research limitations/implications When reporting on their environmental duties, environmental performance and proximity to the final customers play a critical role for firms in obtaining the necessary support of key stakeholders. Originality/value To the best of the authors’ knowledge, this is the first study to explore the difference between shareholders’ and customers’ perception of environmental reporting according to firms’ environmental performance and to their proximity to the final customer.
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Andy Hartanto, Joseph, and Sulaksono Sulaksono. "Applications of good corporate governance relating to shareholders, commissioners, and directors of limited liability companies in Indonesia." Problems and Perspectives in Management 17, no. 3 (September 23, 2019): 410–20. http://dx.doi.org/10.21511/ppm.17(3).2019.33.
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This critical analysis seeks to explore the inclusivity and feasibility of the legal application of organizational governance principles related to limited liability companies (LLCs) in Indonesia, which are considered essential pillars of Indonesia’s economic stability. The investigators employed the non-probability purposive sampling to select 150 study participants from a population of 250 administrative panel members working in PT Bank Rakyat Indonesia and PT Bank Mandiri. Structured and semi-structured questionnaires were constructed and distributed online through emails. The subjects’ responses were coded manually, using the NVivo software for ease of analysis. The result showed that (1) 84.5% of participants believed that ineffective relationship building approaches, corruption, and inadequate information disclosure mechanisms among internal and external shareholders formed the main challenges to implementation of corporate governance principles in Indonesian LLCs, (2) 97.8% of the respondents believed the Indonesian Company Law (ICL) had achieved significant milestones in guiding the application of sound corporate governance principles by explicitly outlining the roles and responsibilities of stakeholders and providing sufficient protection for minority stakeholders, and (3) 78% of participants agreed that the ICL has introduced and reinforced critical rights and protections to shield shareholders from unfair regulations internally formulated by a company. In its findings, the investigation confirmed that poorly structured information sharing systems, fraud, and ineffective relationship building were the main factors that contributed to current inadequacies. 84.5% of the respondents believed that ineffective relationship building approaches, corruption, and inadequate information disclosure mechanisms among internal and external shareholders formed the main challenges, trends, and issues to the implementation of corporate governance principles in Indonesian LLCs. The study also confirmed that the implementation of GCG related legislations had reinforced the professional duties and obligations of stakeholders, alongside offering legal protections for minority business actors.
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Cachia, Franklin. "Tax Transparency for Intermediaries: The Mandatory Disclosure Rules and Its EU Impact." EC Tax Review 27, Issue 4 (June 1, 2018): 206–17. http://dx.doi.org/10.54648/ecta2018022.
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Tackling tax avoidance and evasion is among the political priorities in the EU, with a view to creating a deeper and fairer single market. In this context, the European Commission (EC) has presented in recent years a number of initiatives in order to promote a fairer tax system. Enhancing transparency is one of the key pillars in the EC’s strategy to combat tax avoidance and evasion. In particular the exchange of information between tax administrations is crucial in order to provide them with the necessary information to exercise their duties efficiently. Recent leaks, including the Panama Papers and Paradise Papers, have highlighted how certain intermediaries appear to have actively helped their clients to make use of aggressive tax planning schemes in order to reduce the tax burden and to conceal money offshore. Whilst some complex transactions and corporate structures may have entirely legitimate purposes, it is also clear that some activities, including offshore structures, may not be legitimate and in some cases, may even be illegal. The proposed legislative framework complements the series of legislative acts that were passed at the level of the EU over the previous years in implementation of some of the conclusions in the context of the BEPS project of the OECD/G20 and the work of the Global Forum in the field of transparency. The main aim remains linked to curbing tax evasion and avoidance through capturing aggressive tax planning schemes. The initiative generally envisages that potentially aggressive cross-border tax planning schemes be disclosed to the authorities.
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Yilmaz, Ilker. "Social Performance vs. Financial Performance." International Journal of Finance & Banking Studies (2147-4486) 2, no. 2 (April 21, 2013): 53–65. http://dx.doi.org/10.20525/ijfbs.v2i2.146.
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In recent decades, it is gaining more and more dominance in both academic and business life that the company exists for and has responsibilities toward a wider group of stakeholders and it must have some objectives other than profitability. To achieve sustainable development and growth, the companies must assume more duties, which is called the term “corporate social responsibility (CSR).” In the literature, it is questioned whether CSR activities benefit the company or not; whether there is any relationship exists between CSR activities and the company’s financial performance and the direction of the relationship. We aimedto explore that whether there is any effect corporate social performance (CSP) on financial performance and position and vice versa. We performed content analysis through annual reports and derived a social score composed of the items included in disclosure guidelines and some criteria used in CSR ratings. We also used several financial position and financial performance indicators. In order to explore the relationship between CSP and financial indicators, we run panel data regressions. We found significant results for some of the indicators, where some of the indicators gave insignificant results. The reporting of CSR activities is in very low levels. The conscious toward CSR and sustainability must be promoted and the companies must assume more active roles. The reporting of those activities is also important.
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Viriany, Yurika,. "Pengaruh Profitabilitas, Leverage, Likuiditas, Dan Ukuran Perusahaan Terhadap Pengungkapan CSR." Jurnal Paradigma Akuntansi 1, no. 3 (September 13, 2019): 703. http://dx.doi.org/10.24912/jpa.v1i3.5573.
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This research aims to determine the effect of profitability, leverage, likuidity, and firm size on disclosure of corporate social responsibility (CSR). The population used in this research are manufacturing companies that have go public and listed on the Indonesia Stock Exchange (IDX) for the period 2015 to 2017. The samples were obtained by purposive sampling method so that 52 manufacturing companies were obtained duting the research period. Data analysis using the SPSS 23.00 program (Statistical Product and Services Solutions 23.00). The research model was analyzed after being free from classical assumptions. The results of the statistical analysis concluded that profitability, leverage, and liquidity was not significantly influence toward CSR disclosure, while the firm size has significantly influence toward CSR disclosure
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Akone, Bertrand King, and Nickson Agusioma Lumwagi. "Corporate Governance Practices and Organization Performance Among Deposit Taking Microfinance Institutions in Nairobi County, Kenya." International Journal of Business Management, Entrepreneurship and Innovation 4, no. 3 (November 8, 2022): 39–54. http://dx.doi.org/10.35942/jbmed.v4i3.289.
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The purpose of this study was to assess the influence of corporate governance practices on organizational performance of Deposit Taking Microfinance Institutions in Kenya. The following specific objectives guided the research: to assess the impact of the corporate governance documentation, corporate governance framework, corporate governance policies and corporate governance reporting on the performance of Deposit Taking Microfinance Institutions in Nairobi County, Kenya. The study also investigated the moderating effect of corporate culture on the relationship between corporate governance practices and performance of DMFIs. A descriptive research design was employed to fulfill the study's objectives. All 13 registered Deposit Taking Microfinance Institutions in Kenya were included in the study's population. Primary and secondary data were used in the study. Measures of tendency such as means, frequencies, and standard deviations were used in data analysis. Tables and figures were be used to show the study's findings. From the correlation analysis, the study found out that all the variables including corporate governance documentation, corporate governance framework, corporate governance policies, corporate governance and corporate culture had a positive significant effect on the performance of the deposit taking microfinance institutions in Nairobi county (p<0.01). This was supported from the regression analysis where the corporate governance practices studied were found to explain 74.5% of the variations in performance of the deposit taking microfinance institutions in Nairobi county (R2=0.745). This confirms a strong positive relationship between CG practices and performance. The moderated regression analysis model further showed that 76.2% of performance of the DTMFIs can be accounted for by the independent variables when corporate culture was moderating the relationship (Δ Adjusted R2=0.017). The study therefore concludes that appropriate formulation and implementation of these CG practices as per each firms’ requirements is critical in ensuring improved organizational performance. The study also concludes that the type of corporate culture in an organization not only affect the type of corporate governance practices that are adopted by a particular firm, but also the resulting effect of organizational operations and organizational performance accrued in the long run. The study recommends that financial corporate reports must now contain more information due to the increased complexity of business, as investors rely on corporate information when making investment decisions. The study recommends that firms should adopt diverse board duties, share information with employees to ensure that they are committed to corporate governance principles, and give crucial information to shareholders through disclosure of information, particularly financial reports. The study also recommends that current organizational principles shouldn't interfere with their work, and the organizational culture should promote organizational performance. Further, the study also recommends that in order to ensure sound corporate governance across all industries, the policymakers take the appropriate actions.
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Pham, Hoang N., and Minh C. Nguyen. "Minority investor protection mechanisms and agency costs: An empirical study using a World Bank–developed approach." Accounting 8, no. 2 (2022): 235–48. http://dx.doi.org/10.5267/j.ac.2021.6.014.
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This study aims to examine the impact of minority investor protection mechanisms on agency costs. All relevant indicators of minority investor protection adapted from the World Bank’s annual ‘Doing Business’ reports, along with concentrated government ownership, are employed with a panel data sample of 135 Vietnamese listed firms during the period 2014–2018. It is found that the following mechanisms are effective in mitigating agency costs and hence agency problems at the firm level: 1) review and approval requirements for related-party transactions; 2) minority shareholders’ ability to sue and hold directors liable for their duties; 3) minority shareholders’ access to internal corporate documents; 4) investors’ rights to approve major corporate investment and sale of asset decisions; and 5) disclosure in annual reports of salaries, bonuses and other forms of remuneration to directors and management. Interestingly, board independence and controlling government shareholders are not confirmed to play significant roles in addressing agency problems. To the best of the authors’ knowledge, this is the first attempt at testing for the impact of minority investor protection mechanisms developed by the World Bank on agency costs at the firm level, hence providing empirical evidence for the adoption of the minority investor protection mechanisms promoted by the World Bank. This study also provides policy implications for selecting effective mechanisms to mitigate agency conflicts between controlling shareholders and minority investors in order to enhance the financial performance of firms in an Asian emerging market.
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McMurray, Josephine, Arlene Astell, AnneMarie Levy, Jennifer Boger, and Catherine Burns. "DE-RISKING THE EMPLOYER-EMPLOYEE RELATIONSHIP WHEN WORKERS HAVE MILD COGNITIVE IMPAIRMENT OR YOUNG ONSET DEMENTIA." Innovation in Aging 6, Supplement_1 (November 1, 2022): 124. http://dx.doi.org/10.1093/geroni/igac059.496.
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Abstract The employee-employer relationship is one that is well established in law and involves a contract between a worker who performs the work, and an employer who determines when, how and where the work is done. Many countries have introduced legislation that helps guide employee-employer behavior when workers’ performance of their duties is disrupted by illness or disability, such as mild cognitive impairment or young onset dementia (MCI|YOD). At any one time, about 8-12% of the workforce is off due to occupational or non-occupational work injury or illness with direct disability and absence costs projected about 7% of payroll in 2000. Drawing from data gathered in a systematic literature review and case study, this paper determined that uncertainty and risk influence employer-employee relationships when workers are identified with MCI|YOD. Employers’ industry context, size and corporate values influence their “integrated risk management” approach to workers with MCI|YOD, and early intervention is considered key to managing financial and liability risk. In contrast, progressive onset, delayed diagnosis, stigma, privacy concerns, workplace uncertainty, and lack of information may delay employee disclosure, a common employee risk mitigation strategy. We conclude by considering strategies to de-risk relationships between workers with MCI|YOD and employers using dual process theory to understand intuitive and rational decisions in the context of the disability management process.
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Euler, Dimitrij. "Standards on transparency of publicly listed corporations: Information owed to the public?" Corporate Ownership and Control 11, no. 3 (2014): 184–92. http://dx.doi.org/10.22495/cocv11i3c1p5.
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The paper is about domestic laws’ response to the greater need of publicly listed corporation to be accountable to the public in accordance with international law. The paper is dedicated to the transparency of multinational corporations listed and incorporated in Germany, the United Kingdom, the United States and Switzerland. Under these applicable laws, transparency of publicly listed corporations has significantly changed in the last decade. Some countries oblige corporations to disclose non-financial and financial information immediately; others merely require periodic reporting of financial information. In particular, the connection between Impact Investor, an investor that invests based on social or environmental criteria in addition to the financial performance, and the investment target, publicly listed corporations contributed to some change. The applicable law provides a minimum standard of transparency. This minimum standard defines how the reasonable investor invests in the publicly listed corporation. Depending on this standard, the responsibility owed by the publicly listed corporation extends from the shareholder, several stakeholders to the public. Reasons for these differences lie in the greater accountability of publicly listed corporations from shareholders, to stakeholders or even the public. The OECD’s different standard on Corporate Governance, the Ruggie principles and other recommendations of non-governmental organisations (NGO) keep shaping the accountability under the applicable law. These standards provide guidance to corporations to voluntarily implement greater responsibilities beyond the minimum standard in the form of Corporate Governance. However, once publicly listed corporations implement these standards, the applicable law seem to not adequately impose duties on publicly listed corporations to disclose the information under its self-imposed standard to stakeholders or even the public. The paper researches the problem of transparency of publicly listed corporations in European Union, in particular Germany and the United Kingdom, as well as the United States and Switzerland wither regard to impact investors. Its hypotheses is that the applicable law lacks clear wording that transfers voluntary standards into binding law. The paper will not focus on obligations of corporation established under contracts with groups of shareholders. It will also not focus on stock market programmes to audit corporations based on environmental and social criteria. The paper excludes inter partes obligations because they give the contracting party merely a right to rely on the disclosure. The paper will also not look at methods for evaluation of non-financial information with regard to publicly listed corporations.
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Feng, Nancy Chun, Ross D. Fuerman, and Nicole Heron. "Wells Fargo: Did KPMG perform its duties? An auditing case about consumer fraud." Corporate Ownership and Control 19, no. 2 (2022): 121–26. http://dx.doi.org/10.22495/cocv19i2art10.
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This article describes the implementation of a case study that uses as its setting the role of KPMG in the Wells Fargo consumer fraud scandal as a way for students to learn about what can happen during an audit failure and what should be done to prevent audit failure. As the case details illustrate, it features the only recent significant Big 4 audit failure that is still being resolved, the audit failure includes many aspects of an auditor’s job, including some that typically are not covered in traditional course textbooks, and it highlights the auditor’s role within the broader context of corporate governance. This case study exposes students to several auditing standards and laws related to 1) consumer fraud; 2) contingent liabilities; 3) materiality; 4) illegal acts; 5) audit evidence; 6) audit opinions; 7) auditor independence and mandatory rotation; 8) auditor liability under the Securities Act of 1933; and 9) auditor liability under the Securities Exchange Act of 1934. The case was used in two undergraduate auditing classes and a graduate auditing class. Student opinion surveys were used to ascertain the learning outcomes of the case study. The survey results suggest strong student engagement and support for learning in groups while collaborating on the case study. The case results also show particularly strong knowledge enhancement with regard to understanding the auditor’s duty to disclose illegal acts, understanding consumer fraud, understanding audit evidence, understanding materiality, and understanding contingent liabilities.
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Gribov, Nick D. "Obligations of Corporation Members." Pravosudie / Justice 3, no. 1 (March 25, 2021): 128–47. http://dx.doi.org/10.37399/2686-9241.2021.1.128-147.
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Introduction. The article is devoted to the analysis of the obligations of corporation members in Russian and foreign law. In the Russian and foreign doctrines, attention is paid to the duties of directors or controlling persons. Therefore, the legal question of the obligation of the corporation members is of high scientific interest. Theoretical Basis. Methods. The author analyzed the doctrines of corporate law in Russian and foreign science. In the process of studying the obligations of the corporation members, the au- thor relied on systemic, comparative methods, and a problem-theoretical method of research. Results. Specific obligations of the corporation members are considered. The issues arising in the field of legal content and implementation of several obligations of the corporation members are outlined. The obligation to act in good faith has been differentiated from the obligation to pre- vent actions aimed at an abuse of rights. Based on the analysis of foreign literature, the fiduciary duty of the corporation members is demonstrated. The responsibilities of the corporation mem- bers for non-performance of obligations are also highlighted. Discussion and Conclusion. As a result of the research, the author concludes that the responsi- bilities of the corporation members should be divided into two categories, namely basic and addi- tional. The basic obligations of the corporation members should include the following: to prevent abuse of corporate rights, to act in good faith, to participate in the formation of the corporation’s property, not to disclose confidential information about the corporation’s activities, to notify the corporation and its members in advance of their intention to file a directive claim, and to disclose information. The obligation to act in good faith and the obligation to prevent actions aimed at abusing the right differ in their content. The fiduciary duty of the members of the corporation is, in fact, the same as the obligation to act in good faith. Failure by a member to comply with cor- porate obligations may entail the following measures of corporate responsibility: exclusion of the participant from the corporation, suspension of voting rights, financial sanctions.
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Gözlügöl, Alperen A. "The clash of ‘E’ and ‘S’ of ESG: just transition on the path to net zero and the implications for sustainable corporate governance and finance." Journal of World Energy Law & Business 15, no. 1 (January 18, 2022): 1–21. http://dx.doi.org/10.1093/jwelb/jwab039.
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Abstract Climate change is one of the highest-ranking issues on the political and social agenda. Corporations are one of the main actors that will play a major role in the decarbonization of the economy. They need to put forward a net zero strategy and targets, transitioning to net zero by 2050. Yet, an important but rather overlooked stakeholder group in the sustainability debates can pose a significant stumbling block in this transition: employees. Although climate action has huge benefits by ameliorating adverse environmental events and is expected to have an overall positive impact on employment, net-zero transition in companies, especially in the energy sector in certain regions, will cause substantial adverse employment effects for the workforce. This has the potential to slow down or even derail the necessary climate action in companies. In this regard, just transition is a promising concept, which calls for a swift and decisive climate action in corporations while taking account of and mitigating adverse effects for their workforce. If well implemented, it can accelerate net-zero transition in companies. This potential clash of environmental (E) and social (S) aspects of environmental, social and governance agenda, materialized in the companies’ net-zero transition, and its potential remedy, just transition, have important implications for corporate governance and finance, especially for directors’ duties and executive remuneration, sustainability disclosures, institutional investors’ engagement and green finance.
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Duncan, Leah. "The Proxy Problem: Using Nonprofits to Solve Misaligned Incentives in the Proxy Voting Process." Michigan Business & Entrepreneurial Law Review, no. 9.2 (2020): 235. http://dx.doi.org/10.36639/mbelr.9.2.proxy.
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Proxy advisory firms and their influence on the proxy voting process have recently become the subject of great attention for the Securities and Exchange Commission (“SEC”) among other constituencies. A glance at recent proxy season recaps and reports, many of which devote space to discussing proxy advisory firm recommendations, reveal the significance of this influence on institutional voting. As Sagiv Edelman puts it, “proxy advisory firms exist at the nexus of some of the most high-profile corporate law discussions—most notably, the shareholder voting process, which has recently been the subject of much scholarly and legal debate.” The SEC has responded by announcing that it intends to reform the regulations, or lack thereof, surrounding proxy advisory firms. Recently, the SEC issued proposed amendments to Exchange Act Rule 14(a)-1 which would effectively codify their earlier interpretation of solicitation under this rule. The proposed amendment would “condition the availability of certain existing exemptions from the information and filing requirements . . . for proxy voting advice businesses upon compliance with additional disclosures and procedural requirements.” Furthermore, the amendments would clarify when a lack of disclosure of certain information in proxy voting advice compromises the accuracy of the advice and misleads within the meaning of the rule. The SEC believes that these extra requirements will “help ensure that investors who use proxy voting advice receive more accurate, transparent, and complete information on which to make their voting decisions.” Based on this proposal, it is apparent that the SEC is intent on rectifying some of the problems of transparency and conflicts of interest associated with proxy advisory firms. Given the increasing influence of proxy advisory firms, the misalignment of incentives between proxy firms and the institutional shareholders who use proxy firm services is troubling. This Note identifies inherent problems and concerns with proxy advisory firms and offers solutions to these issues with a focus on eliminating conflicts of interest. Using Henry Hansmann’s theory of ownership, this Note argues that nonprofit ownership of proxy advisory firms eliminates both information asymmetry and conflicts of interest inherent to the current ownership structure. Part I provides a brief overview of the problems and concerns associated with proxy advisory firms. Part II suggests two potential solutions: that Rule 206(4)-6 of the Investment Adviser Act of 1940 should be repealed or alternatively, that nonprofit ownership through investment company associations is a more effective way for investment management companies to comply with their fiduciary duties. Because profit incentive has created conflicts of interest that lead to proxy advice that may not always be in the best interest of investment manager clients, nonprofit ownership promotes transparency that allows parties who rely on the advice to make more independent decisions. Part III argues that nonprofit ownership is the most viable alternative to the status quo.
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Ivančević, Katarina. "Disclosure duties in insurance contract." Pravni zapisi 12, no. 1 (2021): 184–212. http://dx.doi.org/10.5937/pravzap0-31897.
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In this paper, the author considers issues related to the pre-contractual obligation of the insurance policyholder to report to the insurer circumstances significant for the risk assessment. The aim of this paper is to compare the provisions of the The Law on Contract and Torts (LCT), proposals for changes in Serbian law envisaged in the Preliminary Draft of the Civil Code of the Republic of Serbia with solutions from comparative law and the provisions of the Principles of European Insurance Contract Law (PEICL). The analysis showed that it is necessary to update the solutions from the LCT and that the proposed changes, in terms of special rules regarding the obligation to report circumstances relevant to risk assessment to the insurer, are largely in line with modern solutions in comparative law and PEICL. The author points out that the proposed solutions can be supplemented and improved.
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Zipursky, Benjamin C. "Loyalty and Disclosure in Legal Ethics." American Journal of Jurisprudence 65, no. 1 (June 1, 2020): 83–107. http://dx.doi.org/10.1093/ajj/auaa005.
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Abstract: As fiduciaries, lawyers owe duties of loyalty to their clients, and such duties are widely understood to entail strong duties of confidentiality. This article addresses the question of whether loyalty-based duties of confidentiality preclude the legal system from imposing on lawyers duties to disclose that their clients have been engaging in financial fraud. It distinguishes two possible bases for such duties of disclosure: alleged duties of care to investors who will suffer financial harm if these frauds are not revealed, and legislative mandates requiring lawyers to report evidence of legal violations to a government institution. The latter—driven by a “gatekeeping” rationale, and illustrated here by a (failed) proposal of the United States Securities and Exchange Commission—is different in substance and structure from the former, “duty-of-care” rationale. The article argues that, while there may be good arguments based on a lawyer’s role-based duty of loyalty to a reject a duty-of-care based rationale for disclosure duties, these arguments do not defeat the gatekeeping, legislative-mandate rationales for disclosure duties. While a stringent duty of loyalty to a client may indeed conflict with the structure of duties of care to third parties, it need not conflict with a positive mandate to report legal violations.
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Lajili, Kaouthar. "Corporate Risk Disclosure and Corporate Governance." Journal of Risk and Financial Management 2, no. 1 (December 31, 2009): 94–117. http://dx.doi.org/10.3390/jrfm2010094.
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Landgraf, Ellen, and Ahmed Riahi‐Belkaoui. "Corporate Disclosure Quality and Corporate Reputation." Review of Accounting and Finance 2, no. 1 (January 2003): 86–95. http://dx.doi.org/10.1108/eb027003.
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الابراشى, احمد محمود أحمد, and احمد محمود الابراشی. "Corporate Governance Attributes, Corporate Risk Disclosure and Sustainability Disclosure: Egyptian Case." المجلة العلمیة للدراسات المحاسبیة 2, no. 2 (March 1, 2020): 1–64. http://dx.doi.org/10.21608/sjar.2020.119383.
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Kamilla, Puteri. "Corporate Governance, Corporate Environmental Disclosure Dan Firm Value." Syntax Literate ; Jurnal Ilmiah Indonesia 5, no. 7 (July 21, 2020): 451. http://dx.doi.org/10.36418/syntax-literate.v5i7.1402.
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Upaya global untuk mencapai hal yang lebih berkelanjutan tidak dapat dicapai tanpa keterlibatan aktif dari komunitas bisnis. Tantangan bagi bisnis adalah untuk secara strategis melibatkan environmental disclosure dalam tata kelola perusahaan mereka yang lebih luas, sehingga menciptakan nilai perusahaan yang baik dengan corporate governance yang efektif dan environmental disclosure yang lebih tinggi. Penelitian ini menguji pengaruh corporate governance terhadap firm value dengan corporate environmental disclosure sebagai variabel intervening. Indeks GRI digunakan untuk mendapatkan nilai corporate environmental disclosure dan penilaian firm value menggunakan rasio Tobins Q. Analisis data berdasarkan annual report dan sustainability report perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada tahun 2018. Penelitian ini menggunakan teknik Structural Equation Model-Partial Least Square (SEM-PLS) dengan aplikasi software WarpPLS 5.0 untuk menganalisis data. Corporate environmental disclosure yang lebih tinggi memberikan firm value yang lebih baik. Hasil penelitian menyatakan bahwa ukuran dewan direksi, proporsi gender dewan direksi, latar belakang etnis direktur utama dan frekuensi jumlah rapat dewan direksi memiliki pengaruh terhadap corporate environmental disclosure ataupun firm value. Selain itu, ukuran dewan direksi dan frekuensi jumlah rapat dewan direksi memiliki hubungan positif terhadap firm value melalui corporate environmental disclosure. Sebaliknya, variabel lain dari corporate governance memberikan hasil yang berbeda atau tidak berpengaruh terhadap corporate environmental disclosure dan firm value. Hasil tersebut membantu perusahaan dalam mengevaluasi implementasi dari corporate governance dan environmental disclosure untuk dapat meningkatkan firm value.
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McKenzie, C. J. "Trustees' Duties of Disclosure and Notification." Trusts & Trustees 7, no. 2 (January 1, 2001): 26–35. http://dx.doi.org/10.1093/tandt/7.2.26.
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Alnabsha, Abdalrhman, Hussein A. Abdou, Collins G. Ntim, and Ahmed A. Elamer. "Corporate boards, ownership structures and corporate disclosures." Journal of Applied Accounting Research 19, no. 1 (February 12, 2018): 20–41. http://dx.doi.org/10.1108/jaar-01-2016-0001.
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Purpose The purpose of this paper is to investigate the effect of corporate board attributes, ownership structure and firm-level characteristics on both corporate mandatory and voluntary disclosure behaviour. Design/methodology/approach Multivariate regression techniques are used to estimate the effect of corporate board and ownership structures on mandatory and voluntary disclosures of a sample of Libyan listed and non-listed firms between 2006 and 2010. Findings First, the authors find that board size, board composition, the frequency of board meetings and the presence of an audit committee have an impact on the level of corporate disclosure. Second, results indicate that ownership structures have a non-linear effect on the level of corporate disclosure. Finally, the authors document that firm age, liquidity, listing status, industry type and auditor type are positively associated with the level of corporate disclosure. Research limitations/implications Future research could investigate disclosure practices using other channels of corporate disclosure media, such as corporate websites. Useful insights may be offered also by future studies by conducting in-depth interviews with corporate managers, directors and owners regarding these issues. Practical implications The evidence relating to the important role that corporate governance mechanisms play in shaping the expectations relating to the level of corporate voluntary and/or mandatory disclosures may be useful in informing investor decisions, as well as future policy and regulatory initiatives. Originality/value This paper contributes to the existing literature by examining the governance-disclosure nexus relating to both mandatory and voluntary disclosures in both listed and non-listed firms operating in a developing country setting.
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Javaid Lone, Ehtazaz, Amjad Ali, and Imran Khan. "Corporate governance and corporate social responsibility disclosure: evidence from Pakistan." Corporate Governance: The International Journal of Business in Society 16, no. 5 (October 3, 2016): 785–97. http://dx.doi.org/10.1108/cg-05-2016-0100.
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Purpose This paper aims to investigate whether there is any change in corporate social responsibility (CSR) disclosure in Pakistani companies after the introduction of CSR voluntary guidelines in 2013 by Securities and Exchange Commission of Pakistan (SECP) and determine the effect of corporate governance (CG) elements on CSR disclosure. Design/methodology/approach Content analysis was applied to measure CSR disclosure from annual and sustainability reports of 50 companies from eight different sectors from 2010 to 2014. Paired-samples t-test was applied to examine the difference in CSR disclosure. Regression analysis was used to examine the relationships between CG elements and CSR disclosure. Findings Paired-samples t-test shows an increase in the extent of CSR disclosure after the introduction of CSR voluntary guidelines in 2013. The one-way ANOVA test reveals that the extent of CSR disclosure is different across various sectors. Multiple regression results prove that independent directors, women directors and board size positively affect the extent of CSR disclosure. Practical implications SECP should enforce medium-sized firms to start producing CSR reports. Voluntary guidelines of 2013 moderately improved CSR reporting. Therefore, enforcement of the SECP rule of independent directors may enhance the extent of CSR disclosure. Originality/value This study is the first to examine the effect of CSR voluntary guidelines issued by SECP in 2013 and CG elements on CSR disclosure in Pakistan.
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Yon Mi Kim. "Disclosure on Corporate Websites." Journal of hongik law review 12, no. 2 (June 2011): 341–60. http://dx.doi.org/10.16960/jhlr.12.2.201106.341.
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Chew, Don, John Graham, Trevor Harris, Amy Hutton, Charles Kantor, Tom King, Rick Passov, Erik Sirri, and Joe Willett. "Roundtable on Corporate Disclosure." Journal of Applied Corporate Finance 16, no. 4 (September 2004): 36–62. http://dx.doi.org/10.1111/j.1745-6622.2004.00006.x.
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Krasodomska, Joanna, and Charles H. Cho. "Corporate social responsibility disclosure." Sustainability Accounting, Management and Policy Journal 8, no. 1 (March 6, 2017): 2–19. http://dx.doi.org/10.1108/sampj-02-2016-0006.
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Purpose The purpose of this study is to examine the usage of non-financial information related to corporate social responsibility (CSR) issues from the perspective of sell-side analysts (SSAs) and buy-side analysts (BSAs) employed in Poland-based financial institutions. Design/methodology/approach The authors conducted a survey among financial analysts with the use of the computer-assisted telephone interview (CATI) method and an online questionnaire. The adopted methods included purposeful, quota sampling and snowball sampling. Findings Results indicate that financial analysts make use of CSR disclosures very rarely and attribute little importance to such information. Despite the limited use of CSR information and negative assessments of its quality, respondents are in favor of making a more frequent use of CSR disclosures. Finally, except for an analyst’s attitude toward the “comparability in time” information characteristic, results do not indicate any significant differences between SSAs’ and BSAs’ responses. Research limitations/implications The limited number of questionnaires prevented the use of more sophisticated statistical methods and the formulation of conclusions that could apply to the entire population. In addition, although the adopted CATI method provides a number of advantages, it also has its limitations – interviews had limited time and the questions along with the answers had to take into account the respondents’ limited perception ability. Practical implications The results of this study suggest that CSR disclosures have limited usage for financial analysts, at least in the Polish context. Further, not only do respondents rarely make use of CSR disclosures but they also give low assessments to their quality. This implies that the concept of CSR remains relatively far from becoming a priority; hence, some measures and incentives may be necessary. Originality/value The paper adds to a relatively small number of studies that have dealt with the issue of non-financial information and its usefulness for SSAs and BSAs in Central and Eastern Europe.
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Aribi, Zakaria Ali, and Simon Gao. "Corporate social responsibility disclosure." Journal of Financial Reporting and Accounting 8, no. 2 (October 26, 2010): 72–91. http://dx.doi.org/10.1108/19852511011088352.
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von Alberti‐Alhtaybat, Larissa, Khaled Hutaibat, and Khaldoon Al‐Htaybat. "Mapping corporate disclosure theories." Journal of Financial Reporting and Accounting 10, no. 1 (June 29, 2012): 73–94. http://dx.doi.org/10.1108/19852511211237453.
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PurposeThe purpose of this paper is to map corporate disclosure theories as a step towards filling a gap in the theoretical background for corporate disclosure research. The purpose of the map is to encompass a range of particular theories relating to corporate disclosure and to demonstrate the complex relationships between different notions of the financial disclosure phenomenon. This will help new researchers to understand how particular corporate disclosure theories are related, as well as help with teaching accounting theories at undergraduate and postgraduate level.Design/methodology/approachA deductive and inductive approach to theory building was applied. The deductive approach suggests identifying the gap in the literature, the inductive approach then prescribes theory building in three stages: phenomenon observation, categorisation and relationship building. This approach serves to develop a theoretical map integrating the corporate disclosure theories.FindingsThe paper discusses theories that recognise actual features of financial markets – market failure, information asymmetry and adverse selection – to provide an explanation for the existence of corporate reporting regulations and managerial incentives, which control and determine the maximum level of corporate information under these conditions. It then integrates these theories in a map seeking to explain corporate disclosure levels, mandatory and voluntary, financial and narrative. A combination of theoretical supplements – codification theory, Dye's theory of mandatory and voluntary disclosure, and disclosure transformation theory – are proposed in this framework as theories to explain processes of change in mandatory and voluntary corporate disclosure in practice.Originality/valueAnother benefit mapping these theories is to provide useful insights into existing disclosure theories, which may help to explain why some empirical results have been inconsistent with the predictions of these theories. No similar attempts have been published in the accounting literature.
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Blanc, Renata, Muhammad Azizul Islam, Dennis M. Patten, and Manuel Castelo Branco. "Corporate anti-corruption disclosure." Accounting, Auditing & Accountability Journal 30, no. 8 (October 16, 2017): 1746–70. http://dx.doi.org/10.1108/aaaj-02-2015-1965.
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Purpose The purpose of this paper is to investigate whether differences in media exposure regarding corporate corruption appear to influence companies’ anti-corruption disclosures. The authors also examine whether the level of press freedom in firms’ home countries affects disclosure and the impact of media exposure in different ways. Design/methodology/approach The authors use Transparency International’s 2012 ratings of anti-corruption disclosure by the 105 largest multinational firms in the world, press freedom assessments from the non-governmental organization Reporters Without Borders, and media exposure measures based on a search using the Dow Jones Factiva database. The authors assess relations using regression analysis controlling for other firm-specific factors potentially impacting disclosure choices. Finally, the authors consider the potential effect of other country-level factors. Findings The results indicate that media exposure, using either an existence or an extensiveness measure, is positively related to differences in sample companies’ anti-corruption disclosures. The authors also find that disclosure is more (less) extensive where home country press freedom is less (more) restricted and that reduced press freedom appears to reduce the impact of media exposure on the disclosure. The authors further document that press freedom levels explain more difference in anti-corruption disclosures than other country-level factors potentially influencing the practice. Research limitations/implications Because the investigation is limited to very large international firms for a single year, the degree to which the findings apply to other companies and time periods cannot be assessed. Further, the authors cannot determine how the findings would hold using an alternative disclosure rating scheme. Finally, the authors do not assess whether differences in the source of media exposure impact the findings. Social implications The findings suggest that, to the extent that improved anti-corruption disclosure reflects greater corporate attention to corruption issues, the media may be a powerful player in addressing this social ill. Unfortunately, the results also indicate that media efforts may not be sufficient to bring about change in locations where the freedom of the press is limited. Further, the results suggest that disclosure appears to be a function of exposure to social and political exposures, and the authors therefore question whether it will actually lead to improved corruption performance. Originality/value The study is the first to consider the impacts of media exposure and press freedom on corporate social disclosures.
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Sunder, Shyam. "Corporate Disclosure: A Symposium." Accounting Horizons 26, no. 2 (June 1, 2012): 353–55. http://dx.doi.org/10.2308/acch-10263.
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Barckow, Andreas. "Regulation in Corporate Disclosure." Schmalenbach Business Review 71, no. 2 (December 7, 2018): 249–53. http://dx.doi.org/10.1007/s41464-018-0058-y.
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Nour, Abdulnaser Ibrahim, Abdel-Aziz Ahmad Sharabati, and Khitam Mahmoud Hammad. "Corporate Governance and Corporate Social Responsibility Disclosure." International Journal of Sustainable Entrepreneurship and Corporate Social Responsibility 5, no. 1 (January 2020): 20–41. http://dx.doi.org/10.4018/ijsecsr.2020010102.
Full textAbstract:
Developed countries are increasingly concerned about the relationship between corporate governance and corporate social responsibility disclosure while developing countries recently started to take care of this issue. Therefore, the main objective of the study is to examine the effect of the board mechanisms of corporate governance on the extent of social responsibility disclosure of Jordanian public industrial companies during the period (2010 to 2014). In this research, descriptive statistics are used to study variables, both correlation matrix and collinearity diagnostic are used to test whether multicollinearity problem exists. Finally, OLS regression analysis is used to test the hypotheses of the study. The results show that the extent of social responsibility disclosure is positively affected by board size and percentage of women on board, negatively affected by duality and board average age. Board meetings and board composition are insignificant to social responsibility disclosure. The study faces several limitations where the measurement of corporate social responsibility requires human judgment, which is subjective and ambiguous. Furthermore, the study sample was limited to industrial companies. Understanding the relationship between CG and CSR is very important because the CG mechanism is an obligation to protect and improve social, economic, and environment, as well as the welfare of society. CSR elements should be included within the companies' vision, mission, strategies and daily practices to maximize the shareholder value.