Dissertations / Theses on the topic 'Supervisory boards'
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Maidorfer, Thomas, and Werner H. Hoffmann. "Effectiveness of Supervisory Boards: 5 Crucial Factors." WU Vienna University of Economics and Business, 2013. http://epub.wu.ac.at/3854/1/EffectivenessOfSupervisoryBoards_5Crucial_Factors_final.pdf.
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In recent years the field of corporate governance has been characterized by an increasing effort to gain a better understanding of the role of boards for the financial performance of a firm. The present study thereby searches to build upon the small but growing literature that focuses particularly on boards in a two-tier system. It extends the current knowledge about the effectiveness of supervisory boards by measuring the interaction of board work and firm performance and illustrates the differences and similarities between the one-tier and the two-tier system in this context. It moreover highlights the advantages of testing board effectiveness in a dualistic system and enriches our current understanding on how various board characteristics at once impact the financial performance of a firm. (authors' abstract)Series: Working Papers / Institute for Strategic Management
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Azevedo, Marcel Citro de. "Limitações constitucionais à cobrança de anuidades por conselhos de fiscalização profissional." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2016. http://hdl.handle.net/10183/148783.
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O autor aborda a conformidade das execuções fiscais de anuidades aos princípios do Devido Processo Legal e da Capacidade Contributiva, especialmente após o advento da Lei nº 12.514/2011, que alterou a definição do fato gerador da Contribuição devida aos Conselhos de Fiscalização Profissional. Valendo-se de pesquisa jurisprudencial sobre a forma como vêm sendo utilizados os meios para salvaguardar os créditos tributários, a presente dissertação questiona os parâmetros adotados para o deferimento de penhoras eletrônicas no âmbito destas execuções, considerando as peculiaridades da constituição do crédito tributário e da extração do título executivo pelas diversas projeções regionais dos Conselhos de Fiscalização. Com base no postulado da razoabilidade, apresenta critérios alternativos aptos a mitigar o caráter confiscatório da ordem de bloqueio e proteger o mínimo existencial dos executados, minimizando o risco de indisponibilidade de valores diretamente comprometidos com despesas de alimentação, saúde e moradia.The author discusses the compliance of the procedure prior to tax foreclosure to the Due Process of Law and Contributory Capacity, especially after the advent of Law 12.514/2011, which changed the definition of the taxable event of the contribution due to the Supervisory Boards of Professional Activity. Drawing on jurisprudential research on how has been used the tools to safeguard the tax credits, the author also analyzes the parameters that have been used for the acceptance of electronic attachment under these executions, considering the peculiarities of the constitution of the tax credit and the extraction of the enforcement by the various projections of regional councils. Based on the postulate of reasonableness, the author presents alternative proposals able to mitigate the confiscatory nature of the freezing order and protect the vital minimum of the debtors, minimizing the risk of embrancing amounts directly committed to food expenses, health and housing.
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Lee, Pao-Chen. "The audit committee as an additional mechanism of corporate governance in China." Thesis, University of Manchester, 2011. https://www.research.manchester.ac.uk/portal/en/theses/the-audit-committee-as-an-additional-mechanism-of-corporate-governance-in-china(079d2b7d-ec62-4432-afa0-653531210ea6).html.
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As the title suggests, this thesis focuses on the issues arising from the establishment of audit committees in listed companies in China, which hitherto have been adopted by companies on a voluntary basis alongside the pre-existing structure of supervisory boards, rather than as a mandatory requirement. Regarding this unique practice in China, this thesis attempts to address three research objectives: 1. To understand the effectiveness of supervisory boards (SBs) and audit committees (ACs) in China. 2. To understand how the operations of SBs and ACs improve the effectiveness of supervisory governance functions in China. 3. To understand the co-ordination between SBs and ACs in organisations. The first objective is investigated by applying quantitative methods of ordinary least squares (OLS) regression and analysis of panel data. It is discovered that the companies with audit committees have more effective supervisory functions when companied to those without audit committees. The second objective was pursued by applying qualitative methods in the form of two case studies constructed using interviews and surveys conducted both via telephone and in face-to-face interviews. It is found that in both the case studies audit committees were established with the expectation of enhancing the effectiveness of the companies' supervisory functions. Furthermore, the face-to-face interview survey of five listed companies reveals that companies with audit committees in China still face issues of overlapping and missing supervisory functions between supervisory boards and audit committees. Thus the third research objective, regarding the co-ordination between the supervisory board and the audit committee in the organisation to find solutions to this very problem, is particularly relevant for corporate governance in China. This objective is investigated by interviewing two governors and conducting telephone surveys. The results highlight that there is the general expectation that these structures should be co-ordinated as one unit. There is also a demand to establish an independent control system to strengthen oversight functions, to reduce oversight costs, and to ensure the independence of the supervisors and audit committee members in order that they can execute oversight tasks, and to empower them against the executive directors and senior managers by promoting their status in the organisation.
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Al, Amer Saleh Abdulrahman. "Sharia Supervisory Board in Islamic banks : a critical analysis of the current framework." Thesis, University of Leeds, 2018. http://etheses.whiterose.ac.uk/22489/.
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Sharia Supervisory Boards (SSBs) are established within the structure of Islamic financial institutions (IFIs) to ensure the credibility of sharia-compliance. In sharia governance, the SSB is the main tool which IFIs apply to be presumed as sharia-compliant. However, the insertion of this body into the internal structure of the corporation can prove challenging, as this body, with its powerful authority, is unknown to the structure of the corporation. The role of sharia supervision performed by SSBs requires a high level of independence, which is significantly compromised in its current structure. While many researchers have identified conflict of interests surrounding the structure of SSBs and proposed suggestions, this thesis rethinks the entire structure of SSBs to make them more consistent with the well-known corporate governance mechanisms. The thesis examines the nature of SSBs' roles and concludes that these are more closely aligned to gatekeeping. More specifically, their roles are similar to those of external auditors, and so the SSBs should be structured as such. This requires a separation of the SSB's roles to be reassigned to different institutions. Regarding the sharia standard-setting role, the thesis suggests establishing a national Sharia Standard-setting Board to be the exclusive authority for issuing sharia standards for the Islamic finance industry. This body should overcome the limitations existing within similar bodies in certain jurisdictions where SSBs are granted wide legislative authority. To assess the auditing roles of SSBs, the thesis analyses the accountability framework of sharia governance. It argues that sharia firms provide a better alternative for conducting independent external sharia auditing. Also, a regulatory authority needs to be implemented for more effective accountability and to serve the unique stakeholders of sharia-compliance. The thesis concludes by proposing an SSB-free model which promotes sharia supervision as a profession and so, in turn, the whole industry of Islamic finance.
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Wang, Ling. "Corporate governance in China : roles of state, the supervisory board and the board of directors in large listed companies /." [S.l. : s.n.], 2006. http://www.gbv.de/dms/zbw/520496876.pdf.
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Vernimb, Peter Jon. "Superintendent and School Board Relationships: Applying Leadership Strategies to Maintain Quality Public Schools During an Economic Recession." Diss., Virginia Tech, 2015. http://hdl.handle.net/10919/71694.
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This study describes the strategies that were employed by the Frederick County Public Schools Superintendent and the School Board to maintain instructional programming while assuring continued support for schools by the local governing body during the economic recession of 2007-2009. Despite reductions in state appropriations beginning in 2008 and continuing through 2011, division leaders worked closely with the county Board of Supervisors to support public schools and local governmental services, even as the local economy faltered. While other local governments annually reduced appropriations to schools, effort by the Frederick County School Board and its administrative leadership to foster a positive relationship with the Board of Supervisors led to only one operating fund reduction in fiscal year 2010, as the schools' share of the projected local revenue shortfall. This study describes those actions that promoted and improved trust between the School Board and the Board of Supervisors. This study addresses the following research questions:
1. What political and relationship factors contributed to maintaining level local funding in fiscal year 2010 and beyond by the local Board of Supervisors?
2. What strategies were employed by the School Board and division leadership to reduce operating expenditures and maintain quality education programs for all students?
3. How did State Fiscal Stabilization Funds provided under the American Reinvestment and Recovery Act influence decision making for fiscal year 2010?
Some of the actions taken by the School Board and the Board of Supervisors may be representative of those steps taken to address revenue shortfalls by other Virginia local governments. However, each community has had unique financial challenges to overcome. Not all actions described will be generalizable to other communities. As economic uncertainty continues at the time of this study, the findings may foreshadow how public education will be supported in the future.Ed. D.
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BORDIGA, FRANCESCO. "Le competenze del consiglio di sorveglianza. Tra funzioni di controllo e funzione di indirizzo sulla gestione." Doctoral thesis, Università Cattolica del Sacro Cuore, 2010. http://hdl.handle.net/10280/805.
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La tesi ricostruisce la funzione del consiglio di sorveglianza, giungendo al risultato – in contrasto con l’opinione dominante secondo la quale a detto organo è assegnato solamente un ruolo di controllo – di assegnare allo stesso competenze “originarie” di indirizzo strategico sulla gestione, anche in assenza di una clausola statutaria ai sensi dell’art. 2409-terdecies, lett. f-bis, c.c.. Nel primo capitolo, si evidenzia che – diversamente dal collegio sindacale, che non ha poteri di incidere direttamente sui componenti dell'organo gestorio – il consiglio di sorveglianza esercita l’attività di controllo al fine di incidere direttamente sulla gestione attraverso il potere-dovere di nomina e revoca esercitato per conto dei soci. Nel secondo capitolo, argomentando dalla qualificazione della funzione di nomina-revoca in termini di potere-dovere, che implica l’obbligo di “garantire” l'idoneità dei gestori di attuare con diligenza professionale l'oggetto sociale, si fa derivare la conclusione che l’esercizio del detto potere-dovere impone che l’organo di controllo sia necessariamente coinvolto nella programmazione strategica della gestione e nell’assunzione delle scelte strategiche a quest’ultima connesse. Nel terzo capitolo, si conclude che la competenza deliberativa statutaria ai sensi dell’art. 2409-terdecies, lett. f-bis, c.c., rappresenta la razionalizzazione/rafforzamento statutario del potere-dovere originario di indirizzo sull’alta gestione implicato dalla funzione di nomina e revoca dei gestori.The thesis reconstructs the function of the supervisory board, reaching the result – contrary to the leading opinion according to which to the said board is assigned a mere supervisory role – of granting "native" competences of strategic direction of the management, even in the absence of a clause in the by-laws as provided by article 2409-terdecies, lett. f-bis of the Italian Civil Code. The first chapter highlights that - unlike the board of statutory auditors, which has no authority to directly affect the components of the board of directors - the supervisory board exercises the control activity in order to directly influence the management through the power-duty to appoint and dismiss exercised on behalf of the shareholders. In the second chapter, starting from the qualification of the appointing-dismissal function in terms of power-duty, which implies an obligation to "guaranty" the ability of the managers to implement the company’s purpose with professional diligence, derives the conclusion that the exercise of the aforementioned power-duty requires that the supervisory body necessarily has to be involved in the strategic planning and management and in the acquisition of strategic choices related to it. The third chapter concludes that the statutory deliberative power provided by article. 2409-terdecies, lett. f-bis, of the Italian Civil Code represents the statutory rationalization/strengthening of the native power-duty to guide the high management implied by the function of appointing and dismissing the managers
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Ramos, Nuno Miguel Amaral de Sá dos. "Cobertura jornalística do caso BES : o papel da administração, supervisão e auditoria." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/11302.
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Mestrado em Contabilidade, Fiscalidade e Finanças EmpresariaisO principal objetivo deste estudo foi avaliar o comportamento dos principais atores no colapso do Banco Espírito Santo, antes e após a resolução do banco. Deste modo, o estudo foca-se sobre os Órgãos de Administração BES, os Supervisores e Auditores. Para este efeito foram observados 293 artigos de jornal, tendo como fontes a Agência Lusa e o Diário Económico durante dois períodos temporais distintos, nomeadamente Julho e Setembro de 2014. De modo a efetuar este trabalho foi utilizado o programa de análise qualitativa, MAXQDA 11 de forma a criar vários códigos onde fosse possível codificar os artigos recolhidos para que depois se procedesse a uma análise dos mesmos.
The main goal of this study was the evaluation of the main protagonists behavior in the collapse of Banco Espírito Santo, before and after the bankruptcy. Thus, the study focuses on BES Management, Supervisors and Auditors. For this purpose it was observed 293 newspaper articles, taking as sources Agência Lusa and Diário Económico for two different time periods, namely July and September 2014. In order to make this work was used the qualitative analysis program, MAXQDA 11 in order to create multiple codes where it was possible to encode the items collected and then proceed with an examination.
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Štěrbák, Ondřej. "Corporate Governance - Úloha představenstva a dozorčí rady akciové společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2007. http://www.nusl.cz/ntk/nusl-9062.
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The thesis is focused on Corporate Governance phenomenon mainly on companies with public shares. Starting from the wide description of problematic the thesis continues with analyzing most important trends in governance, world known standards and even Czech standards. Furthermore it concentrates on description of Public Limited company role in Czech law system with special intention on statutory body. The result is an analysis of the role of Management Board and Supervisory Board, especially their impact on governance, duties and responsibility. In the end reader may find the drafts of measures and case study of corporate governance in Japanese global corporatin MITSUI & Co, Ltd.
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Čížková, Jana. "Monistická a dualistická organizační struktura akciové společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-261959.
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The thesis deals with two types of organizational structure of a joint-stock company regard to changing legislation, effective from 1st January 2014. The work is initially focused on new type of organizational structure - a monistic organizational structure. It consists of the board of directors and the statutory director. The work explains the operation and scope of the company's bodies. The second type of organizational structure, which analyses the work, is dual organizational structure. It consists of the management board and the supervisory board. The work is based on the Civil Code and the Business Corporations Act.
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Šudoma, Ondřej. "Struktura statutárních a dozorčích orgánů akciové společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-198027.
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The subject of the thesis is analysis of executive and supervisory bodies of joint-stock companies based on the legislation effective since 1st January 2014. The goal is to describe the structure of such bodies, their establishment, competence and guidelines for action. By comparing with the former legislation, it aims to find the differences, new institutes a possibilities brought by the recodification of private law and thus evaluate their effect and possible future influence. The thesis also points out some potentially controversial parts and defects of the new legislation.
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Lindgren, Eric A. "Understanding the effects of Progressive Era electoral reforms on city elections : the San Francisco Board of Supervisors' races /." view abstract or download file of text, 2006. http://proquest.umi.com/pqdweb?did=1192192321&sid=2&Fmt=2&clientId=11238&RQT=309&VName=PQD.
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Thesis (Ph. D.)--University of Oregon, 2006.Typescript. Includes vita and abstract. Includes bibliographical references (leaves 145-149). Also available for download via the World Wide Web; free to University of Oregon users.
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Momo, Vera Amaral Carvalho. "Conselho fiscal das sociedades anônimas e o direito de fiscalização da gestão dos negócios sociais." Pontifícia Universidade Católica de São Paulo, 2016. https://tede2.pucsp.br/handle/handle/19596.
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Supervisory Board is the body responsible for the company's supervision. It is intended to verify compliance with legal and statutory duties of directors. It also acts as an information organ to shareholders. The objective of this study is to identify if the legal rules of the functioning of the body are effective in protecting the basic right of supervision of the company business by the shareholders. We seek to understand the role of the supervisory board in the corporate context, from the point of view of the harmonization of the various social interests pursued by the legislature
Conselho fiscal é o órgão responsável pela fiscalização da companhia. Tem a finalidade de verificar o cumprimento dos deveres legais e estatutários dos administradores. Atua também como órgão de informação aos acionistas. O objetivo deste trabalho é identificar se as normas legais relativas ao funcionamento do órgão são eficazes na tutela do direito essencial de fiscalização dos negócios sociais por parte dos acionistas. Busca-se compreender o papel do conselho fiscal no âmbito societário, sob o ponto de vista da harmonização dos diversos interesses sociais buscada pelo legislador
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Ren, Yun. "Corporate governance, conservatism and firm performance: Evidence from China." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2014. https://ro.ecu.edu.au/theses/1580.
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This thesis examines the effect of the board of directors and supervisory board on conservatism and firm performance, respectively, and the benefits of conservatism on performance. In addition, this thesis investigates whether the effectiveness of firms’ governance on conservatism and firm performance is influenced by ownership concentration and state ownership. The extant literature has shown that conservatism reduced agency conflict and was beneficial for corporate governance in developed countries; however, little evidence has been provided for emerging countries such as China.
Sample companies are selected from the Shanghai and Shenzhen stock exchanges for the period from 2007 to 2010. Archival data from companies’ annual reports are used and the information relating to conservatism is collected from Datastream. Panel data methodology is employed to test the developed hypotheses developed.
Two popular methods are used to measure conservatism: asymmetric timeliness developed by Basu (1997) and accrual-based method produced by Givoly and Hayn (2000). Two accounting-based performance measures (return on equity and net profit margin), and a market-based indicator (market to book ratio) are used in this study to measure firm performance. For corporate governance variables, five characteristics of the board of directors and four characteristics of the supervisory board are examined. They are board independence, board size, board meetings, CEO duality, top management turnover, supervisory board independence, supervisory board size, supervisory board meetings and supervisory board qualification. Ownership structure is identified by ownership concentration and state ownership. Ownership concentration is measured by the largest shareholdings and state ownership is measured as the number of shares controlled by the state divided by the total number of shares.
In terms of the effect of corporate governance on conservatism, the initial results show that as predicted, higher proportion of independent directors, top management turnover, smaller supervisory boards and more supervisors with professional knowledge or work experience lead to more conservatism. Except for supervisory board independence and supervisory board meetings, the predicted effects of the other characteristics of the board of directors and supervisory board on firm performance are supported. In addition, firms that employ more conservatism are shown to have better firm performance. The results on the moderating effect indicate that state ownership does influence the effectiveness of corporate governance on conservatism and firm performance.
In addition to the linear relationship between corporate governance, conservatism and firm performance, this thesis finds that some corporate governance mechanisms have a nonlinear U-shaped effect on conservatism or firm performance. Board size is found to have a Ushaped effect on conservatism and supervisory board independence is shown to have a Ushaped effect on firm performance. The frequency of supervisory board meetings has a Ushaped effect on firm performance measured by profit margin while it has an inverted Ushaped effect when market to book ratio is used to measure performance. For the moderating effect of ownership structure, this thesis finds that ownership concentration has an inverted U-shaped moderating effect on the effectiveness of firms’ governance on firm performance. State ownership has an inverted U-shaped influence on the relationship between firms’ governance and conservatism while it has a U-shaped influence on the effectiveness of firms’ governance on firm performance.
The findings of this thesis contribute to the corporate governance and conservatism literature in the context of emerging economies. This study also provides some meaningful implications for policy makers, accounting practice, researchers and users of financial statements in China.
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Fajtl, Pavel. "Správa a řízení společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-135917.
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Main goal of this dissertation is to analyze and evaluate current situation and the level of management and control of ČSAD JIHOTRANS company and to valorize the mutual relationship between administrative authority and executive management in this company. Dissertation is divided into two parts, first is theoretical part, in which will be explained issue of administration and management of company, with the help of literature and relevant legislations and practical part, where outcomes will be applied to selected company. To fulfill the goal of this dissertation was primarily used analysis of economic indicators of the company and interviews with chairman of the company board. In the end theoretical outcomes will be compared with real state, in which the company is and there will be given a solution of potential problems.
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Bermig, Andreas [Verfasser], Bernd [Akademischer Betreuer] Frick, and Joachim [Akademischer Betreuer] Wagner. "German supervisory board size and composition : A detailed evaluation of their effects on performance, earnings management and cash holdings / Andreas Bermig. Betreuer: Bernd Frick ; Joachim Wagner." Paderborn : Universitätsbibliothek, 2012. http://d-nb.info/1036553361/34.
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Barhanko, Josef, and Aram Kerimo. "Förväntningsgapet : Vad revisionsinsatsen i HQ Bank innebär för förväntningsgapet." Thesis, Södertörns högskola, Institutionen för ekonomi och företagande, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-15356.
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Problem: That the stakeholder’s expectations don´t answer to what auditors can and may do have been a problem for several years. This problem was defined for the first time by Liggio at 1974. Since 1974 there have been several researches about the expectation gap for auditors. Purpose: The purpose of our study is to research what the audit effort in HQ Bank means for the expectation gap. Theory: The theories in our study discuss the audit profession, the definition of the expectation gap, how trust develops between individuals, the regulations that the authorities discuss and a review of earlier researches in this subject. Method: We have done a qualitative study in which we interviewed approved auditors at PwC and Convensia in addition we interviewed the chief lawyer at the Swedish financial supervisory authority to answer our purpose. Conclusions: The conclusion of our study is that the expectation gap exists between the auditors and the stakeholders. Another conclusion is that the incidents in HQ Bank have influenced the expectation gap in a negative direction, to reduce the expectation gap we suggest that adjustments of the regulations must be done and that the auditors themselves must inform their stakeholders what auditors can and may do.Problem: Att intressenters förväntningar på revisorn inte svarar mot vad revisorn faktiskt kan och får göra har varit ett problem för revisorsyrket i många år. Detta problem definierades först av Liggio 1974. Sen dess har flertalet forskningar gjorts inom ämnet förväntningsgap. Syfte: Vår studie syftar till att undersöka vad debatten om revisionsinsatsen i HQ Bank innebär för förväntningsgapet. Teori: Uppsatsens teoretiska referensram behandlar teorier som beskriver revisorsyrket, definition av förväntningsgapet, hur förtroendet utvecklas mellan individer, de lagändringar som diskuteras samt en översikt av tidigare forskning inom ämnet. Metod: För att besvara syftet gjorde vi en kvalitativ studie där vi intervjuade godkända revisorer på PwC och Convensia revision. Dessutom intervjuade vi Finansinspektionens chefsjurist. Slutsatser: Denna studies slutsatser blev att det råder ett förväntningsgap mellan revisorerna och dess intressenter. Vi har även kommit fram till att händelserna i HQ Bank har påverkat förväntningsgapet i en negativ riktning, för att få bukt med förväntningsgapet anser vi att det krävs ändring av regelverken tillsammans med att revisorerna själva upplyser deras intressenter om vad en revisor faktiskt kan och får göra.
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Zídek, Jan. "Dozorčí rady podniků se státní účastí." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-204901.
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This dissertation deals with the issue of Supervisory boards in Czech state-owned enterprises. At first it defines a clear set of terms to differentiate within appropriate legal forms of state entrepreneurship applicable in Czech Republic. Thereafter it offers the analysis of implementing the nomination process recently brought to our governmental system. The empirical part of this thesis is constituted by the qualitative research of personal policy of the state in four selected stated-owned enterprises carried out for the period from 2006 till 2015. Education, working experience, political membership and personal integrity were the main focus areas while researching the members of selected supervisory boards.
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Conchon, Aline. "Les administrateurs salariés en France : contribution à une sociologie de la participation des salariés aux décisions de l’entreprise." Thesis, Paris, CNAM, 2014. http://www.theses.fr/2015CNAM0954/document.
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Cette thèse prend pour objet d’étude les administrateurs salariés en France, soit les représentants du personnel élus par les travailleurs, le plus souvent sur liste syndicale, pour siéger au conseil d’administration [CA] ou de surveillance [CS] de leur entreprise avec les mêmes droits et devoirs que les autres administrateurs, y compris le droit de vote sur les décisions stratégiques. A partir d’une méthodologie croisant différentes techniques d’enquête (l’analyse documentaire, deux études monographiques, la passation d’un questionnaire et l’observation participante), nous interrogeons la régulation sociale qui se joue dans les entreprises alors dites « démocratisées ». Parce que le sujet prête encore à confusion, nous commençons par une double mise en contexte : conceptuelle, en opérant un retour sur la définition de la « participation des salariés aux décisions » pour souligner la singularité du CA ou CS comme espace participatif ; historique, en analysant la dynamique de l’institutionnalisation saccadée des administrateurs salariés pour en éclairer sa dimension de jure. Nous nous intéressons ensuite à sa dimension de facto. Nous interrogeons en premier lieu l’effectivité de la règle et constatons d’une part que son application est directement dépendante de son ancrage dans une source de droit contraignant et, d’autre part, que la singularité de ce dispositif se reflète dans le profil des syndicalistes appelés à siéger au CA ou CS qui présentent, dans leur grande majorité, un capital militant particulièrement développé. Et ce parce que l’action de l’administrateur salarié, que nous observons en second lieu, a pour particularité de s’inscrire à la fois au sein du système de gouvernement d’entreprise et des relations professionnelles. Si sa capacité d’action dans le premier est le plus souvent limitée à la sphère de l’influence, le CA ou CS peut néanmoins constituer un espace pertinent de l’action collective à la condition d’un effort d’articulation des différentes scènes de représentation du personnel par l’organisation syndicale. Nous montrons ainsi que la participation des salariés aux décisions stratégiques ne conduit pas mécaniquement à un rééquilibrage des pouvoirs dans l’entreprise, mais qu’elle peut produire une reconfiguration des relations professionnelles pour peu que les différents acteurs en présence s’en saisissentThis thesis focuses on the study of board-level employee representatives, i.e. employee representatives elected by the workforce under trade union nomination who serve on their company’s board of directors [BoD] or supervisory board [SVB] with the same rights and duties than that of other directors, including the right to vote on strategic decisions. Thanks to a methodology which combines different survey techniques (documentary analysis, two case studies, questionnaire distribution, participant observation), we question the nature of the social regulation which takes place within such so-called “democratised” companies. As this subject continue to lead to misunderstanding, we start setting the scene against a twofold context: a conceptual one, going back to the definition of “workers’ participation in decision-making” in order to underline the idiosyncrasy of the BoD or SVB as a participatory scene; an historical one, analyzing the non-linear dynamics of board-level employee representation’s institutionalisation in order to shed light on its de jure dimension. We then turn to its de facto dimension. First, we question the effectiveness of this rule and we observe that, on the one hand, its application directly depends on its anchorage in a source of binding law and, on the other hand, that the uniqueness of this provision is reflected in the profile of the union members selected to serve on the board whose great majority has a particularly well-developed “activist capital”. This is because, secondly, board-level employee representative’s action specificity lies both in the corporate governance and the industrial relations systems. If his/her capacity of action is limited to the sphere of influence in the former, the BoD of SVB could however be deemed a relevant arena of collective action provided that the trade union engages in an effort aimed at articulating the various scenes of workers’ representation. We demonstrate that workers’ participation in strategic decision-making does not automatically lead to a rebalancing of power within the company, but that it can produce a reshaping of industrial relations as long as the various involved actors seize it
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Risfandy, Tastaftiyan. "Empirical essays on islamic banking : competition, stability and governance." Thesis, Limoges, 2018. http://www.theses.fr/2018LIMO0004/document.
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Cette thèse met en lumière trois questions importantes au regard des banques Islamiques. Dans le premier chapitre, nous examinons l'impact de la concurrence sur les différences de fixation des taux de dépôt dans les banques Islamiques et conventionnelles. Nous montrons qu'il existe des différences notables dans les déterminants des taux de dépôt dans les deux types d'institutions. La concurrence du marché a un impact significatif sur le taux de dépôt des banques conventionnelles mais pas des banques Islamiques. Notre résultat, en général, suggère que bien que le dépôt des banques Islamiques semble être similaire à celui des banques conventionnelles, leurs déterminants sont différents. Dans le deuxième chapitre, nous poursuivons nos enquêtes en examinant la question de la concurrence et de la stabilité. La concurrence entre banques Islamiques et conventionnelles augmente-t-elle la stabilité ou la fragilité des banques ? Notre principale constatation suggère que le marché concurrentiel des deux banques n'est pas bénéfique pour la stabilité des banques. Conformément au résultat du premier chapitre, lors de la prochaine enquête, la concurrence sur deux marchés ne concerne que les banques conventionnelles. Dans le troisième chapitre de cette dissertation, nous analysons le rôle du Conseil de surveillance de la Charia sur le financement par capitaux propres des banques. Notre résultat montre que le financement par capitaux propres des banques Islamiques est influencé par certaines caractéristiques de la Conseil de surveillance de la Charia. La présence d'un membre de la Conseil de surveillance de la Charia au Conseil d'administration ou d'un membre de l'exécutif a un impact positif sur le financement par actions tandis que l'existence d'un département de la Charia dans les banques Islamiques diminue la proportion de financement par capitaux propresThis dissertation highlights three important issues in Islamic banks. In the first chapter, we investigate the impact of dual market competition on the differences in deposit rate setting in Islamic and conventional banks. We show that there are notable differences in the determinants of deposit rates in the two types of institution. Market competition has a significant impact on deposit rate of conventional banks but not Islamic banks. Our result, in general, suggests that although Islamic banks’ deposit seems to be similar than conventional banks, their determinants are different. In the second chapter, we continue our investigations by looking at the competition-stability issue. Does competition between Islamic and conventional banks increase banks’ stability or fragility? Our main finding suggests that competitive dual banking market is not beneficial for banks’ stability. In line with the result from the first chapter, in the next investigation, dual market competition only matters for conventional banks. In the third chapter of this dissertation, we analyze the role of Shariah Supervisory Board (SSB) on banks’ equity financing. Our result shows that Islamic banks’ equity financing is influenced by some characteristics of SSB. The presence of SSB member in the Board of Directors (BOD) or executive member has a positive impact on equity financing whereas the existence of a Shariah department in Islamic banks decreases the proportion of equity financing
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Dongmo, Zafack Nadine Claire. "Der Manager im Kontext der Überwachungsstruktur: Eine vergleichende Analyse deutscher und kamerunischer Aktiengesellschaften." Universitätsverlag Chemnitz, 2020. https://monarch.qucosa.de/id/qucosa%3A75440.
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In den letzten Jahren häuften sich spektakuläre Bilanzskandale, was zu einer „Krise der Überwachungssysteme“ geführt hat. Vor diesem Hintergrund beschäftigt sich die Studie mit der Untersuchung und der Würdigung des Managerverhaltens im Prüfungsverhältnis aus Interner Revision, Aufsichts- bzw. Verwaltungsrat und Abschlussprüfer im Vergleich deutscher und kamerunsicher Aktiengesellschaften. In der Studie sollen die wesentlichen Elemente ans Licht gebracht werden, welche die Interaktionsmuster und die unterschiedlichen Verhaltensstrategien charakterisieren, die von den Akteuren mittels der sich ihnen bietenden Freiräume genutzt werden können. Mit Hilfe der für jedes Land spezifischen rechtlichen Rahmenbedingungen werden die Interaktionen zwischen diesen Akteuren anhand eines Prüfungsdreiecks dargestellt bzw. aufgezeigt.
Die Analyse des Zusammenspiels der Akteure bietet auch die Möglichkeit, die formelle und die informelle Macht der Akteure des Prüfungsprozesses Anhang ausgewählter Corporate-Governance-Theorien zu extrahieren. Auf diesen Charakteristika aufbauend wurde eine den einzelnen Aktiengesellschaft entsprechende Management-Typologie erstellt. Anschließendes Ziel der Studie ist die Entwicklung eines einheitlichen Corporate Governance Modells sowie die Formulierung von Empfehlungen zur Verbesserung der Überwachungsstruktur der Aktiengesellschaft.:Erster Teil: Gegenstand und theoretischer Rahmen der Untersuchung
1. Einleitung
2. Theoretischer Rahmen und Grundsätze der Corporate Governance
Zweiter Teil: Rechtliche Grundlage der Corporate Governance deutscher und
kamerunischer Aktiengesellschaften
3. Einblick in die Corporate-Governance-Systeme und die Organisationsstruktur
der deutschen und kamerunischen AG
4. Überblick der Interaktionen zwischen den Überwachungsorganen und der
Geschäftsleitung der deutschen und kamerunischen Aktiengesellschaften: die
Entstehung eines Prüfungsdreiecks
Dritter Teil: Auf der Suche nach einem geeigneten Governance-Modell der
deutschen und kamerunischen Aktiengesellschaften
5. Charakteristiken des Managementmodells der SA/AG: Gemeinsamkeiten und
Unterschiede der beiden Corporate-Governance-Systeme
6. Für die Verbesserung der Governance der AG/“SA“: Auf der Suche nach
einer rationalen Organisation der Macht in der Aktiengesellschaft
7. ZusammenfassungFrom the perspective of the spectacular accounting scandals that have led to a 'crisis of the monitoring systems', the study deals with the investigation and assessment of managerial behavior towards the internal audit, the supervisory board or the board of directors and the external auditor in German and Cameroonian public companies. The study thus aims to bring to light the essential elements that characterize the nature of the interactions and the different behavioral strategies that the actors can use through the freedom afforded to them. With the help of the legal frameworks specific to each country, the interactions between these actors are presented through an examination triangle. Based on the exchanges, it is also possible to extract the formal and informal power of the actors in the audit process Appendix of selected corporate governance theories. Based on these characteristics, we introduce a management typology corresponding to the individual public limited companies. Instead, the aim is to develop a unified corporate governance model and recommendations for improving the supervisory structure of the public limited company.:Erster Teil: Gegenstand und theoretischer Rahmen der Untersuchung 1. Einleitung 2. Theoretischer Rahmen und Grundsätze der Corporate Governance Zweiter Teil: Rechtliche Grundlage der Corporate Governance deutscher und kamerunischer Aktiengesellschaften 3. Einblick in die Corporate-Governance-Systeme und die Organisationsstruktur der deutschen und kamerunischen AG 4. Überblick der Interaktionen zwischen den Überwachungsorganen und der Geschäftsleitung der deutschen und kamerunischen Aktiengesellschaften: die Entstehung eines Prüfungsdreiecks Dritter Teil: Auf der Suche nach einem geeigneten Governance-Modell der deutschen und kamerunischen Aktiengesellschaften 5. Charakteristiken des Managementmodells der SA/AG: Gemeinsamkeiten und Unterschiede der beiden Corporate-Governance-Systeme 6. Für die Verbesserung der Governance der AG/“SA“: Auf der Suche nach einer rationalen Organisation der Macht in der Aktiengesellschaft 7. Zusammenfassung
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Svobodová, Monika. "(Ne)transparentnost státních podniků: případová studie Budějovického Budvaru, n. p." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-165918.
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The diploma thesis deals with the transparency of Czech state-owned enterprises. Thus how they are run, how they are managed and staffed and how they are regulated. The thesis is divided into four chapters. The first chapter is concern with the constitution of the state-owned enterprises, their development after the change of regime and especially with their sale within the coupon privatization. The second chapter deals with the current privatization of the state-owned enterprises but rather only theoretically and argues whether the state is an appropriate owner and a good bussinesman. The third chapter is devoted to (non)transparency of the state-owned enterprises which means appointing (non)experts to the supervisory boards and (in)sufficient control of these enterprises. The fourth chapter is a case study of Budweiser Budvar. In the end the reader finds the answer to the question whether the set rules for the operation and management of the state-owned enterprises are sufficient.
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Berg, Jaroslav. "Správa a řízení společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-161855.
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Diploma thesis Corporate governance in Prague Stock Exchange is summarization of expanding and the most significant models of Corporate Governance around the World. Define position of a joint-stock companies in the Czech republic, describe all kinds of administrative bodies and commitees of joint- stock companies. Research relationships between top management and administative bodies of Joint- stock and research effectiveness and productivity of Prague Stock Exchange in connection with changing of ownership in the year 2008.
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Mozolíková, Veronika. "Správa a řízení společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-162558.
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Main goal of this dissertation is to analyze and evaluate corporate governance of DEK Company. Dissertation is composed of two parts -- theoretical part and practical part. The theoretical part will summarize the issue of corporate governance, which will result primarily from literature and relevant legislations. The practical part is the theoretical part applied to the selected company. To meet the targets will be used primarily analysis of ratios and cooperation with the member of the Board. At the conclusion will be compared to theoretical solutions with real results and propose recommendations for the company.
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Toman, Antonín. "Odpovědnost členů dozorčí rady." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-136214.
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This thesis deals with civil liability of the Supervisory Board and its members for breaching his duties. Emphasis is placed on responsibility and legal relationship, whose content is obligation to pay damages, between Supervisory Board and its member and business companies (in the new terminology "business corporation"). This thesis is dealing at first with the legal anchoring of the Supervisory Board as such, the creation and termination of the Supervisory Board and the definition of its living space not only in the relation to corporation, but also to individual shareholders, General Assembly and of course to the Board - including their mutual rights and responsibilities. Thesis is crossed by author's intention to evaluate the active legislation, whose legislative life is coming to an end, and on the basis of that to comment upcoming legislation that at least brings a fresh wind to the corporate life. Shortly is discussed upon by the factual impossibility to prosecute members of the Supervisory Board for crimes associated with their performance.
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Головіна, Я. С., Я. С. Головина, and Y. Golovina. "Корпоративне управління в банках України." Diss., Одеський національний економічний університет, 2011. http://dspace.oneu.edu.ua/jspui/handle/123456789/3876.
Full textAbstract:
Дисертація присвячена дослідженню теоретико-методичних та практичних аспектів формування корпоративного управління в банківських установах. Уточнено та сформульовано авторське тлумачення поняття «корпоративне управління». Визначено особливості корпоративного управління в банках. Виокремлено поняття «корпоративний контроль» та «корпоративне управління» за критерієм мети. Запропоновано концептуальний підхід до оцінки корпоративного управління в банках на основі аналізу інтересів стейкхолдерів. Проведено періодизацію розвитку корпоративного управління в банках України. Проаналізовано структуру власності та її вплив на формування корпоративного контролю в банках України. Досліджено характеристики діяльності наглядових рад в умовах концентрованої власності. Проведено оцінку чинників удосконалення корпоративного управління в банках з позиції інтересів типових власників. Обґрунтовано наукові засади розподілу контрольних функцій наглядових рад банків. Розроблено комплексний метод оцінки діяльності наглядових рад. Запропоновано заходи державного регулювання корпоративного управління в банках України.Диссертация посвящена исследованию теоретико-методических и практических аспектов формирования корпоративного управления в банковских учреждениях. Уточнено и сформулировано авторское толкование понятия «корпоративное управление». Определены особенности корпоративного управления в банках. Отделены понятия «корпоративный контроль» и «корпоративное управление» за критерием цели. Предложен концептуальный подход к оценке корпоративного управления в банках на основе анализа интересов стейкхолдеров. Проведена периодизация развития корпоративного управления в банках Украины. Проанализирована структура собственности и ее влияние на формирование корпоративного контроля в банках Украины. Исследованы характеристики деятельности наблюдательных советов в условиях концентрированной собственности. Проведена оценка факторов усовершенствования корпоративного управления в банках с позиции интересов типовых собственников. Аргументированы научные основы разделения контрольных функций наблюдательных советов банков. Разработан комплексный метод оценки деятельности наблюдательных советов. Предложены меры государственного регулирования корпоративного управления в банках Украины.
The thesis is dedicated to the research of the theoretical, methodical and practical aspects of corporate governance in banks. The author’s definition of “corporate governance” is given. The features of the corporate governance in banks are determined. The definitions “corporate control” and “corporate governance” are divided by the criteria of goal. The author proposes a conceptual approach of estimation of corporate governance which is based on analysis of stakeholders’ interests. The corporate governance development stages in Ukrainian banks are specified. The author analyzes ownership structure of Ukrainian banks and its influence on corporate control. The author conducted an analysis of the structure and functions of supervisory boards. The estimation of factors enhancing corporate governance in Ukrainian banks is completed. Scientific principles of division of supervisory boards’ control functions are defined. The complex method of assessment of supervisory boards in banks is developed. The author proposes the measures of state regulation of corporate governance in Ukrainian banks.
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Bikourane, Nabil. "Performance boursière des fusions-acquisitions dans le secteur bancaire : influence des caractéristiques des conseils des banques initiatrices et des modalités de la transaction." Thesis, Bordeaux 4, 2011. http://www.theses.fr/2011BOR40034/document.
Full textAbstract:
Cette thèse étudie le lien entre les caractéristiques des conseils d’administration des banques acquéreuseset la performance boursière à court terme de celles-ci, analysée grâce à la méthodologie d’étude d’événement.L’objectif étant de vérifier si la structure des conseils contribue à l’atténuation des conflits d’intérêts àl’occasion des opérations de fusions-acquisitions (F&A) et crée, par conséquent, de la valeur. Deux effets ontété mis en avant. Le premier suppose une influence directe de chacune des caractéristiques du conseil sur lesrendements anormaux de l’acquéreur ; tandis que le second, introduit l’effet médiateur de la prime de contrôlepayée, en considérant que la structure du conseil influence le pouvoir de négociation de ses membres et leurengagement dans l’intérêt des actionnaires. Pour ces deux effets, nous contrôlons certains déterminants de laperformance relatifs à la transaction et aux banques impliquées.Nos résultats indiquent que les marchés financiers ont des attentes vis-à-vis des conseils lors de cesopérations, car nous avons relevé une incidence favorable sur les rendements anormaux de la présence depersonnalités extérieures en proportion significative au conseil de l’acquéreur et de l’absence de dualité dedirection dans celui-ci. Par ailleurs, en contrôlant le choix de la méthode de paiement, nous avons égalementrelevé que l’utilisation du cash est fortement associé à des rendements positifs pour l’acquéreurThis thesis analyzes the relationship between Board characteristics of acquiring Banks and short termStock Market reactions, measured with the Event Study Methodology. We examine if Board structure helps tolower conflict of interests during Mergers and Acquisitions, and creates Shareholder value. Two effects areanalysed. The first one supposes a direct influence of Board characteristics on the acquirer’s abnormal returns.The second one introduces a mediating effect of the premium, considering that Board structure affects itsmembers’ commitment. For both effects, we control some performance determinants relative to transactionand involved banks.Our results indicate that Financial Markets expect that Boards play an important role in acquisitions. Wefind a favourable impact of outside dominated Boards and the absence of duality on the acquirer's abnormalreturns. In addition, by controlling the method of payment, we obtain a significant and positive correlationbetween use of cash and acquirer's returns
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Мороховський, М. В. "Система корпоративне управління в банку." Thesis, Одеський національний економічний університет, 2020. http://dspace.oneu.edu.ua/jspui/handle/123456789/12356.
Full textAbstract:
Робота присвячена проблемам розвитку системи корпоративного управління у банках України. розглядаються теоретичні підходи до визначення сутності системи корпоративне управління та особливостей корпоративного управління в банку; дана характеристика моделей корпоративного управління. Визначено та охарактеризовано етапи впровадження корпоративного управління в банках України. Запропоновано підходи до вдосконалення ефективності корпоративної культури у банках, а також до проведення оцінки якості системи корпоративного управління в банку. Запропоновано методичні підходи до визначення інтегрального показника рейтингу якості корпоративного управління в банку.The work is devoted to the problems of development of the corporate governance system in the banks of Ukraine. theoretical approaches to determining the essence of the corporate governance system and features of corporate governance in the bank are considered; the characteristic of corporate governance models is given. The stages of introduction of corporate governance in the banks of Ukraine are determined and characterized. Approaches to improving the effectiveness of corporate culture in banks, as well as to assess the quality of the corporate governance system in the bank. Methodical approaches to determining the integrated indicator of corporate governance quality rating in the bank are proposed.
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Laranjeira, Rodrigo de Almeida. "Le gouvernement d’entreprise en droit européen et brésilien comparé." Doctoral thesis, Humboldt-Universität zu Berlin, Juristische Fakultät, 2016. http://dx.doi.org/10.18452/17596.
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Corporate Governance hat einen radikalen Wandel in Europa seit den 1990er Jahren durchgemacht. Der Wandel ist konsolidiert und ist nun Teil des Rechts der modernen Aktiengesellschaften. Brasilianisches Recht wird immer durch die europäische Gesetzgebung inspiriert. Unsere Studie fragt, aus einer vergleichenden Sicht, ob sich das brasilianische Unternehmensrecht auf die europäische Corporate Governance bezieht. Wir konzentrieren uns in Europa auf das deutsche Recht, das englische Recht, das französische Recht und das europäische Recht. Unsere Analyse geht über die Herzen der Unternehmensführung und umfasst Teile, die dem Kapitalmarkt- und dem Umweltrecht angehören, da sie selbstverständlich auch eine Verbindung mit der Corporate Governance und dem Aktienrecht haben. Das Verständnis des Kerns der Unternehmensführung, welcher die Organisation der Verwaltungsorgane der börsennotierten Aktiengesellschaft ist, hängt von der Analyse der rechtlichen Behandlung von Neben-Themen, die aber verwandt sind, ab, wie die Regeln über die Haftung.Corporate governance has undergone a radical change in Europe since the 1990s. Change has now consolidated and is part of the company law. Brazilian law has always been inspired by European legislation. Our study asks, from a comparative perspective, if the Brazilian corporate law relates to the European corporate governance. In Europe, we focus on German law, English law, French law and Community law. Our analysis goes beyond the heart of corporate governance and includes parts of capital markets law and environmental law, because they obviously also have a connection with corporate governance and company law. The understanding of the core of corporate governance, which is the organization of administrative bodies of the listed company on a regulated market, depends on the analysis of the legal treatment of incidental subjects, but related, as the regime of liability.
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Trad, Naama. "Gouvernance bancaire et prise de risque des banques islamiques." Thesis, Lyon, 2018. http://www.theses.fr/2018LYSE2039.
Full textAbstract:
Par rapport au système financier conventionnel qui a vécu ces dernières années des épisodes de forte instabilité liés en partie à une mauvaise gouvernance, le système financier islamique a montré des signes de robustesse et de pérennité. Sa capacité à surmonter les événements défavorables a incité plusieurs parties prenantes à proposer la finance islamique comme solutionaux déficits financiers et substitut potentiel au système bancaire actuel. Les partisans de cette finance ont fait valoir que la récente crise financière aurait pu être évitée si la finance islamique avec une bonne gouvernance et un cadre réglementaire solide avait été introduite au lieu de la finance conventionnelle. Pour ces raisons, l’objectif de cette thèse est d’une part d’examiner si la finance islamique pourrait garantir la stabilité en période de crise et être une alternative au système financier traditionnel, et d’autre part d’évaluer l’effet des mécanismes internes et externes de gouvernance bancaire sur le risque des banques islamiques par rapport à leurs homologues conventionnelles. Pour y arriver, nous avons élaboré trois chapitres avec desévidences empiriques en utilisant un échantillon de 95 banques islamiques et 130 banques conventionnelles (38 banques dont 14 banques islamiques sont exclues dans le dernier chapitre) dans 18 pays des régions MENAP et Asie du Sud-Est, durant la période 2006-2013. Le premier chapitre porte sur les spécificités et le risque de la banque dans un système financier islamiquepar rapport au système conventionnel. Les résultats trouvés indiquent que la taille et le capital de la banque ainsi que la croissance du PIB sont des facteurs clés de la solidité des deux systèmes bancaires de tous les pays étudiés, notamment des pays du Golfe. Cependant, d’autres résultats ne sont pas assez robustes pour savoir si les banques islamiques sont plus ou moins risquées que les banques conventionnelles. Par conséquent, nous concluons que le système bancaire islamique ne peut pas se substituer au système traditionnel, mais il est plutôt un complément financier qui a ses propres limites. Le deuxième chapitre examine l’effet des mécanismes internes de gouvernance bancaire, à savoir le conseil d’administration et le conseilde surveillance de la charia comme un organe de contrôle spécifique, sur le risque des banques conventionnelles par rapport aux banques islamiques. Les résultats ne montrent pas de différence significative entre les deux groupes bancaires,sauf pour les banques islamiques des pays du Golfe qui font preuve d’une plus grande solidité financière, grâce notamment auxcompétences de spécialistes en finance et en droit islamique, et au recrutement des administrateurs étrangers. En outre, nous trouvons que, dans les pays du Golfe en particulier, l'effet indésirable d'une taille importante du conseil d'administration et celui de la dualité des fonctions sur les risques des banques conventionnelles, disparaissent avec la présence d'un nombre élevé d’administrateurs indépendants. En traitant la question de la dimension externe de gouvernance bancaire dans le dernier chapitre, l’accent est mis sur l’effet probable des récentes réformes bancaires relatives aux banques conventionnelles et aux banques islamiques, à la lumière de Bâle III et du CSFI-12/15, sur le risque de ces banques. Les résultats trouvés montrent que si les exigences réglementaires de ces deux normes internationales de solvabilité avaient été appliquées durant notre période d'étude, elles auraient probablement amélioré la stabilité des deux systèmes bancaires des pays étudiés. Cependant, cet effet n’est pas uniforme pour toutes les banques, en particulier pour les banques conventionnelles des pays d’Asie du Sud-Est qui semblent moins stables et plus exposées au risque de crédit que le reste des banques.L’ensemble de ces résultats apporte une nouvelle dimension de la recherche en gouvernance dans une perspective islamiqueCompared to the conventional financial system, which has experienced periods of high volatility in recent years partly due to poor governance, the Islamic financial system has shown signs of robustness and sustainability. Its ability to overcome the unfavorable events has encouraged several stakeholders to propose Islamic finance as a solution to financial deficits and as a potential alternative to the current banking system. The supporters of this finance argued that the recent financial crisis could have been avoided if Islamic finance with good governance and a solid regulatory framework had been introduced instead of conventional finance. For these reasons, the purpose of this thesis is twofold. First, we examine whether Islamic finance could guarantee stability in times of crisis and be a substitute for the traditional financial system. Second, we assess the effect of internal and external mechanisms of banking governance on the risk of Islamic banks compared to their conventional counterparts. To this end, we have developed three chapters with empirical evidence using a sample of 95 Islamic banks and 130 conventional banks (38 banks including 14 Islamic banks are excluded at the last chapter) in 18 MENAP and Southeast Asian countries, during the period 2006-2013. The first chapter analyzes the specificities and the risk of the bank in an Islamic financial system compared to conventional system. The results indicate that the size and capital of the bank as well as the GDP growth are crucial factors for the soundness of the two banking systems of all surveyed countries, especially of the Gulf region. However, other results are not strong enough to answer whether Islamic banks are more or less risky than their conventional counterparts. We therefore conclude that the Islamic banking system cannot replace the traditional system, but is, rather, a financial supplement that has its own limitations. The second chapter examines the effect of internal mechanisms of banking governance, such as the board of directors and the sharia supervisory board as a control organ specific to Islamic banks, on the risk of conventional banks compared to their Islamic counterparts. The findings show no significant difference between the two banking systems, except for the Islamic banks of Gulf countries, which demonstrate greater financial solidity thanks particularly to the skills of the specialists in finance and Islamic law, and the recruitment of foreign directors. In addition, we find especiallyin Gulf countries that the harmful effect of a large board size and dual functions on the risks of conventional banks disappear with the presence of a significant number of independent directors. In investigating the issue of the external dimension of banking governance, the focus is on the probable effect of recent banking reforms relating to conventional and Islamic banks, in light of Basel III and IFSB-12/15, on the risk of the two banking systems. Our findings support that if the regulatory requirements of these two international solvency standards had been applied during our sampling period, they would probably have improved the stability of the two banking systems of the surveyed countries. However, this effect is not uniform for all banks. In particular, conventional banks of Southeast Asian countries seem less stable and more exposed to credit risk than the other ones. All of these results bring a new dimension of governance research from an Islamic perspective, which could be a valuable source ofknowledge for both bankers and regulators in the banking sector
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Beck, Nicolas. "L'évolution du cadre institutionnel de la régulation prudentielle." Thesis, Paris 2, 2012. http://www.theses.fr/2012PA020079.
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Avec l’annonce de la création d’une Union bancaire européenne, l’évolution du cadre institutionnel de la régulation prudentielle est actuellement au coeur des débats politiques. Le projet de réforme prévoit la dévolution d’une importante partie du contrôle prudentiel des entreprises financières à la Banque centrale européenne. Les conflits d’intérêts potentiels susceptibles d’être générés dans le cadre de la détermination de la politique monétaire et de la mise en oeuvre du contrôle prudentiel ont souvent été mis en exergue par les détracteurs du modèle de régulation intégré aux institutions d’émission. Cependant, les influences réciproques ainsi que la complémentarité tenant à l’exercice des missions de stabilité monétaire et de stabilité financière par le banquier central pourraient tendre à justifier l’adoption de telles mesures. La concentration des pouvoirs monétaires et prudentiels dans le giron des banques centrales impliquerait néanmoins pour ces dernières de répondre au principe de la légitimité démocratique, cela tout en conservant un certain degré d’indépendance à l’endroit du pouvoir politique. La conciliation de ces deux exigences semblerait nécessaire dans l’hypothèse où les banques centrales se verraient amenées à exercer un rôle croissant au sein de la sphère financière. Plus largement, c’est peut-être dans la recherche de cet équilibre que réside le secret de la conception d’un cadre institutionnel optimal dans le domaine de la régulation monétaire et financière. Les insuffisances dénoncées des modèles de supervision pourraient-elles ainsi se voir pallier par l’institution d’un Système mondial de banques centrales en charge du contrôle prudentiel ?With the announcement of the creation of an European banking union, the evolution of institutionnal framework of prudential supervision is currently at the center of political debates. The draft reform provides for the devolution of a significant part of prudential supervision of financial enterprises to the European central bank. The potential conflicts of interest which might be generated in the framework of the determination of monetary policy and the implementation of prudential supervision have often been underlined by critics of the integrated regulatory model within issuing institutions. However, both reciprocal influences and complementarity in the exercice of the missions of monetary stability and financial stability by the central banker might tend to justify the adoption of such measures. The concentration of monetary and prudential powers within central banks would imply, though, for those latter to satisfy the principle of democratic legitimacy, this while keeping some degree of independence from the political power. The conciliation between these two requirements would seem necessary assuming that central banks would be set to exercise an increasingly important role within the financial sphere. More extensively, perhaps the secret of the design of an optimal institutionnal framework in the area of financial and monetary supervision lies in the search for this balance. Might insufficiencies highlighted in supervisory models be overcome by setting up a world system of central banks in charge of prudential supervision?
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Witzky, Marcus. "Three essays on accounting standard setting, corporate governance and investor behavior." Doctoral thesis, Humboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät, 2015. http://dx.doi.org/10.18452/17358.
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Die vorliegende kumulative Doktorarbeit umfasst drei Arbeiten aus dem Bereich der empirischen Rechnungslegungsforschung. Die erste Arbeit untersucht die Rolle persönlicher Eigenschaften von Rechnungslegungsstandardsetzern bei der Entwicklung der Internationalen Rechnungslegungsstandards IFRS. Sie dokumentiert, dass in den IFRS insgesamt ein Rückgang der Bedeutung von Prinzipien gegenüber Regeln sowie ein Anstieg der Bedeutung des beizulegenden Zeitwerts im Zeitablauf zu verzeichnen sind. Zwischen Änderungen von IFRS-Eigenschaften sowie beruflichen und kulturellen Eigenschaften von Mitgliedern des International Accounting Standards Board (IASB) wird ein Zusammenhang festgestellt. Die zweite Arbeit widmet sich Ursachen und Folgen fehlerhafter Finanzberichterstattung im Rahmen des deutschen Systems der Durchsetzung von Rechnungslegungsregeln. Sie findet systematische Unterschiede in der Unternehmensführung von Unternehmen, bei denen fehlerhafte Finanzberichte festgestellt werden, gegenüber einer Kontrollgruppe. Weitere Ergebnisse lassen die Vermutung zu, dass die Aufdeckung fehlerhafter Finanzberichte Verbesserungen in der unternehmensspezifischen Aufsicht über den Rechnungslegungsprozess auslösen könnte. Die dritte Arbeit nutzt umfangreiche Befragungsergebnisse deutscher Privatanleger zur Untersuchung der Ursachen ihres Unternehmensüberwachungsverhaltens. Demnach üben Anleger, die ein geringeres Vertrauen in andere Anspruchsgruppen eines Unternehmens haben, zugleich eine geringere Unternehmensüberwachung aus. Darüber hinaus dokumentiert die Arbeit, dass Vertrauen und Unternehmensüberwachung in einem Zusammenhang mit dem Ausmaß der Teilnahme am Aktienmarkt und dem Bildungshintergrund der Anleger stehen.This cumulative doctoral thesis consists of three papers within the field of empirical financial accounting research. The first paper examines the role of personal characteristics of accounting standard setters in the development of the International Financial Reporting Standards (IFRS). It documents that the full set of IFRS exhibited a decrease in the importance of principles relative to rules and an increase in its fair value orientation over time. Changes in IFRS properties are found to be associated with the professional and cultural background of International Accounting Standards Board (IASB) members. The second paper investigates determinants and consequences of erroneous financial reporting under the German financial reporting enforcement regime. The corporate governance of firms detected with erroneous financial reporting is found to differ systematically from that of control firms. Further results suggest that error detection might trigger improvements in firm-level accounting oversight. The third paper uses large-scale survey evidence from German individual investors to explore the determinants of their monitoring behavior. Investors who are less trusting in their fellow stakeholders are found to engage in less monitoring. Furthermore, trust and monitoring are documented to be associated with the stock market exposure and the educational background of investors.
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Novotná, Eliška. "Porovnání české společnosti s ručením omezeným a jejího založení a vzniku s Gesellschaft mit beschrankten Haftung (GmbH) v SRN." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-114227.
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This master dissertation is dedicated to the main characteristics and to the process of establishment of Private Limited Company in the Czech Republic and Germany and to the comparison of these two national legal forms. The goal of this work is to compare Czech and German Ltd. in a very clear way, so the reader can understand what the differences of this type of company in the national legal forms mentioned above are and what have on the contrary in common. The work deals also with the Czech and German Ltd. in separated chapters in order to be the comparison for the reader comprehensible. In the end of the master dissertation is expressed the author's opinion, which national legal form of this type of company is better and in what way.
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Delecourt, Benoist. "Les contrats civils appliqués aux actions." Phd thesis, Université du Droit et de la Santé - Lille II, 2010. http://tel.archives-ouvertes.fr/tel-00577724.
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Les contrats civils appliqués aux actions ont pour finalité le transfert, souvent provisoire, des différents droits politiques et financiers inhérents à ces titres : les droits politiques convoités sont le droit de vote et la qualité d'actionnaire afin de devenir administrateur, si les statuts l'imposent ; les droits financiers permettent quant à eux de transmettre l'entreprise et d'utiliser les actions comme garantie. Pour opérer ces transferts, les praticiens utilisent des contrats classiques, souvent issus du Code civil, mais aussi des contrats d'inspiration civiliste qui emploient des techniques civilistes, leur empruntent une partie de leurs régimes juridiques et poursuivent les mêmes finalités. Toutefois, ces contrats ne donnent pas entière satisfaction : les uns ont un régime juridique souple mais n'offrent pas une sécurité juridique suffisante ; les autres sont au contraire fiables mais affligés d'un régime juridique contraignant. Le législateur, en instituant la fiducie, pouvait remédier à ces inconvénients. Mais si la fiducie offre une grande sécurité juridique, c'est toujours au détriment de la liberté contractuelle. Une nouvelle réforme de la fiducie est donc indispensable.
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Laouer, Radhoine. "Une contribution à la connaissance de la relation processuelle entre la structure du conseil de surveillance et la performance de ses rôles : le cas des hôpitaux publics en France." Thesis, Bordeaux 4, 2013. http://www.theses.fr/2013BOR40011/document.
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Les théories de la Corporate Governance et la théorie de la psychologie sociale du petit groupe de prise de décision sont mobilisées afin de comprendre le mode de fonctionnement du conseil de surveillance hospitalier public et plus précisément pour tester empiriquement la relation de médiation du processus de prise de décision (les normes d’efforts, l’utilisation des connaissances et des habiletés et le confit cognitif) entre sa structure (la taille, la composition et la diversité) et la performance de ses rôles (la stratégie, le contrôle et le service). 320 questionnaires en provenance des membres des conseils de surveillance hospitaliers ont été recueillis. L’agrégation de ces réponses individuelles génère un échantillon de 159 conseils de surveillance hospitaliers publics. Les résultats des tests des hypothèses du modèle de recherche confirment le fait que la structure du conseil de surveillance n’influence pas la performance de ses rôles. Les normes d’efforts affectent positivement la performance des rôles .Seules les normes d’efforts et l’utilisation des connaissances et des habiletés médiatisent partiellement la relation processuelle entre la structure et la performance des rôlesCorporate governance theories and the theory of the psychology of the small decision making group are used in order to understand the functioning mode of the public hospital supervisory board and specifically to test empirically the mediating relationship of the decision making process (Efforts norms, use of skills and knowledge and cognitive conflict) between the structure of the public hospital supervisory board (size, composition and diversity) and the performance of its roles (strategy ,control and service).320 questionnaires answered by the supervisory board members were collected. The aggregate of those individual responses generated 159 public hospital supervisory boards. The results of the hypothesis test of the model show that the supervisory board structure doesn’t influence the performance role of the supervisory board. Efforts norms influence positively the performance of its roles. Only the use of knowledge and skills, and efforts norms mediate the process relationship between the public hospital supervisory board structure and the performance of its roles
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Rammal, Hussain G. "Corporate governance in the Islamic banking system in Pakistan: the role of the Shari’ah supervisory boards." Thesis, 2010. http://hdl.handle.net/2440/65222.
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Since it was launched commercially in the 1970‘s, Islamic finance has grown at a rapid rate. Today Islamic banks are operating in nearly all Muslim countries and many non-Muslim countries. To ensure that Islamic financial institutions comply with the religious requirements, banks are required to utilise the services of a Shari’ah Supervisory Board (SSB). These SSBs consist of a number of Shari’ah (Islamic law) scholars who conduct internal religious audit in Islamic financial institutions and are required to approve the Shari’ah compliance of new financial products before they are launched commercially. This study addresses the issues of accountability and governance in Islamic financial institutions in Pakistan, and investigates the roles and responsibilities of the SSBs and Shari’ah advisors. For the purpose of this study, the field-based case study method was applied and primary data was collected using semi-structured face-to-face interviews that were conducted over a period of five years with individuals from the Pakistani banking sector. Additional information was sourced from historical documents, State Bank of Pakistan directives and relevant court cases that involved the Pakistani Islamic Banking sector.
Thematic analysis of the data reveals that there is a worldwide shortage of competent Shari’ah advisors in the Islamic finance sector. The training of new Shari’ah advisors in Pakistan is affected by the lack of educational infrastructure and the lengthy time period required for training in Islamic jurisprudence. This has resulted in banks hiring individuals as Shari’ah scholars who are members of SSBs in more than one banking institution, thereby raising concerns about conflict of interest. The findings also detail the process by which SSBs and Shari’ah advisors ensure that Islamic financial institutions are accountable for their Shari’ah operations. The SSBs are required to verify that the operations of the banks are in conformity with religious law, and to impose the suggested penalties in case of non-compliance. Finally, in comparison with existing national Shari’ah governance models in the Middle East and South-East Asia, the study evaluates the new Shari’ah governance and application model for Islamic financial institutions that has been enforced by the State Bank of Pakistan. This model is seen as the first step towards the implementation in Pakistan of the Shari’ah governance requirements put forth by the Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI), the global regulatory body for Islamic financial institutions.Thesis (Ph.D.) -- University of Adelaide, Business School, 2010
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Kolarczyková, Eva. "Volba a odvolání členů představenstva a dozorčí rady akciové společnosti ve srovnávacím pohledu." Master's thesis, 2013. http://www.nusl.cz/ntk/nusl-329816.
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Election and removal of members of the governing and supervisory boards of a joint stock company from a com- parative perspective The diploma thesis deals with the ways of the appointment and removal of the members of the governing and supervisory boards of a joint stock company in the Czech Republic and in Great Britain. It focuses on three main areas: the appointment, removal and the eligibility of members of the governing and supervisory boards of a joint stock company. The aim of the thesis is not only to describe the Czech and British legal provisions on these topics, but also to compare and evaluate them. Within the scope apart from other things it attempts to answer these questions: whether the new Czech Companies Act which will come into force on the 1st January 2014 has been influenced to some extent by the British Companies Act 2006 or whether British pattern did not offer any inducement to any change. The thesis consists of seven chapters. The first three chapters analyse legislation of the Czech Republic. They describe legal provisions of the cur- rent Commercial Code and compare them with the provisions of the new Companies Act and the new Civil Code. The next three chapters describe British law. The last chapter compares and evaluates legislations of both states. The first chapter...
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Chen, Cheng-hung, and 陳政宏. "Board attributes、firm performance、the directors and supervisor's background and market reaction to announcement of independent directors and supervisors." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/21872118859602462737.
Full textAbstract:
碩士開南管理學院
財務金融系碩士班
93
Recently, there were quite a number of accounting scandals and financial fraudulence in US and Taiwan. Therefore, the government hope to enhance corporate governance mechanism. They enforce that initial public offerings must set up at least two independent directors and one independent supervisor since February, 2002. The major of this study investigates the independent of director announcement effect that can improve investor's confidence and produce abnormal return which can increase the value of the company and shareholder. The research data were collected by 94 companies which were announced recruiting independent director between 2002 to 2004. Using the event studying get independent director announcement effects, the difference of independent directors and independent supervisor, the effects of industry, the number of independent directors and independent directors' background. As a result, the announcement of director could produce abnormal return, but the technology industry did not significantly positive, the number of independent directors were no more 2 people. Depending on the independent and professional directors are more useful in corporate. Finally, using multiple regression model test the factor of abnormal return from the effects of independent director. Using the character of the board, the performance of corporation, development and the directors get more other jobs. In conclusion, if the company has the higher stock holding ratio of the directors(supervisors), the higher stock holding ratio of the institutional investors have, higher percentage of the shares as collateral by the board of directors, the lower corporate performance in the earlier, the CEO can not be the chair man, the directors get fewer other jobs, it will get positive abnormal return.
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HO, Shu-Yu, and 何淑瑜. "A Research of the monitoring effectiveness of supervisory board in Taiwan." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/43514707976497262917.
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Tsai, Cheng-Che, and 蔡政哲. "Book Value and Board Supervisors'' Pledge on Investor Protection." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/80650169678743709417.
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碩士國立高雄第一科技大學
財務管理研究所
100
In recent years, both academia and practice circles have attached great importance to corporate governance issues. This research is to measure the value of the company by applying several indicators, such as the net value per share, board supervisor pledge, board supervisor stock, cash dividend and monthly revenue. In other words, the investor can understand the subject of investment and whether it is a company worth investing. This research takes the Taiwan 50ETF as the research samples, research period is from September 1, 2008 to August 31, 2011, 36 months in total as the monthly data. It is found in empirical study that the net value per share, board supervisor stock and stock returns are positive correlated and board supervisor pledge, cash dividend are negative correlated to monthly revenue and stock returns. We can know it from the results that when choosing investment target, investors can choose the company of low net value per share and high board supervisor stock to invest and avoid the company of high board supervisor pledge. Stock returns will be reduced when the company has more cash dividend, and the monthly revenue will not reach the significant standard of stock return rate.
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Lin, Chen-Chang, and 林成章. "The study of the monitoring effectiveness of supervisory board on Taiwan stock exchange." Thesis, 2001. http://ndltd.ncl.edu.tw/handle/27468196806218450509.
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碩士義守大學
管理科學研究所
89
This paper directly investigates the relationship between the supervisory board and the value of the corporation, and it examines whether the supervisors of the general enterprises and corporations in Taiwan possess efficiency upon production. The actual samples for the study are 358 companies, excluding the financial stocks that bear abnormal debts or loans from the bank and the corporations which encounter financial problems or have no board of directors or supervisors. Based on the result of the cross-sectional regression analysis, this study finds that there is significantly positive relationship between the number of supervisors and the value of the corporation. The result shows that the supervisory board of the corporation does have effect of supervision. After putting all the possible variables under control, the author finds no significant changes in the result.
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LIU, YI-TING, and 劉儀婷. "A STUDY ON THE RELATION BETWEENTHE SYSTEM OF INDEPENDENT BOARDS AND SUPERVISORS AND EARNINGS MANAGEMENT." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/92120253891023788026.
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碩士國立臺北大學
會計學系
93
According to the Company Law of ROC, the board of directors is responsible to execute business operations of a company, and supervisors shall monitor the execution of business operations of the company and investigate the business and financial conditions of the company at any time. In practice, large portion of directors are appointed by controlling stockholders causing the intimate relationship between directors and supervisors. Following the trend of corporate governance around the world, the regulator has mandated the requirement of independent directors and supervisors since 2002. The purpose of this study is to examine whether the implementation of the independent directors and supervisors could mitigate earnings management due to the increased supervising power on the financial reporting. This research used 136 companies listed in TSE or OTC market between 2002 and 2003 in Taiwan and examined the differences in the magnitude of earnings management between companies with independent directors and supervisors and companies that do not. Following prior research, the industry cross-sectional modified Jones model is used to estimate discretionary accruals which is generally used as proxy variables for earnings management. The results from the paired t-test have shown a significant negative relation between the magnitude of earnings management and independent directors and supervisors; however, the negative relation is not found from the results of paired Wilcoxon signed-rank test. In addition, the results from multiple regression have indicated that the negative relation solely comes from the sample in 2003, which could be caused by the severe conservative auditing practice because of the implementation of auditor rotation. The results form multiple regression are consistent with the results from the pared Wilcoxon signed-rank test. The empirical results have indicated that there is no significant relation between the implementation of independent directors and supervisors and earnings management. One explanation might be that independent directors and supervisors are outsiders who may not have a deep and thorough understanding of companies. Another explanation might be that the earnings quality of the sample companies is better than those which did not voluntarily set up independent directors and supervisors. The results of study imply that the regulators should require companies to set up audit committee instead of supervisors, such as Japan and Korea, etc., or require the board of directors be composed of majority of independent directors and supervisors to enhance the power of governance.
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Jheng, Jyun-Jie, and 鄭鈞介. "The Influence of Board of Directors and Supervisors, Audit Quality on Restatement." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/83506827917771423150.
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碩士中國文化大學
會計研究所
94
Corporate governance both has insider and outsider administrative mechanism, the function of boards of directors and supervisors is the core of insider mechanism; reputa-tion institution is an important outsider supervisor when insider and outsider mechanism can both work effectively, the corporate governance will succeed, and increase financial statement’s credibility. Our research find out that the independence and ownership stake have significant negative relationship with restatement, the size and pledged shares of directors and supervisors both have significant positive relationship with restatement, audit quality has significant negative relationship with restatement.
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Hsieh, Wen-Chi, and 謝雯琪. "Does Supervisory Quality of Board Enhance Corporate Social Performance? -Evidence from Taiwanese Listed Firms." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/525js8.
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碩士國立東華大學
會計與財務碩士學位學程
102
Abstract Investors make investment decisions not only based on financial data but also on nonfinancial performance. Corporate social responsibility (CSR) is one of the critical indicators. Board responsibilities are to approve management decisions and to supervise corporate operations, including corporate social activities and performance. The effect of the supervisory quality of the board on corporate social performance (CSP) is a topic that has not been explored in the literature. This study uses Taiwanese publicly traded firms as a sample over the period of 2010-2012 to examine their relationships. The present study uses four proxies for supervisory quality of board: board attendance rate at board meetings, number of board meetings, social capital of the board and average training hours of the directors. Corporate social performance data is obtained from an international CSR rating agent. Empirical evidences indicate the followings. For CSR firms, board attendance rate and board meeting frequency positively impact CSP but social capital of the board and average training hours of the directors negatively affect CSP. We then group our samples as CSR firms and match them with double size non-CSR firms. We find that CSR firms exhibit significantly higher board attendance rate, board meeting frequency and board social capital. Overall, results support our expectations that board supervisory quality is important to improve corporate social performance.
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Yea-Fon, Shieh Tserng, and 曾雅鳳. "The relationship between the structure of board of supervisory and directors and firm performance：." Thesis, 2001. http://ndltd.ncl.edu.tw/handle/05653464451547156088.
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碩士義守大學
管理科學研究所
89
This paper empirically examines the relationship between board structure and corporate performance by using a sample of steel corporations listed on Taiwan stock exchange in 1998. The cross-sectional analysis finds a significantly negative association between the percentage of outside directors and corporate performance. In addition, we also find the proportion of outside supervisor is positively related to corporate performance. Moreover, the result indicates that corporate performance has positive relationship with stock share held by board.
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Chang, Yu-Chih, and 張育誌. "The Comparison of Supervisory Board and Independent Director among Germany, U.S.A, China and Taiwan." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/22953240871579027383.
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碩士國立屏東科技大學
企業管理系所
97
Different political, social, cultural and economic environments in different countries result in different corporate governance structures. At present, there are two typical corporate governance structures—one tier mode（Germany）and two tier mode（USA）. The present internal supervisory mechanism (independent auditor) of Taiwan’s corporate governance system does not work out as they are expected. In order to improve and enhance the effectiveness of corporate governance, our government introduces the American-style independent director system. However, considering the cost efficiency and overlapping function, it is suggested to choose only one system between independent auditor and directors. To operate successfully, an independent director (or auditor) mechanism should include three basic elements: independence, capability, and enough quantity to keep it work well in the board of directors. However, members of independent director in the board of directors are too few to be effective controlling the whole mechanism. In other words, our government still can do a lot of efforts to improve it. Accordingly, by comparing the corporate governance system of four countries-Germany、U.S.A、Mainland China and Taiwan, the objective of this thesis tries to find out a better mode of corporate governance for Taiwan. Currently, Independent Director System is the most popular corporate governance mode in the world, our government has to set up sunset provision for the Auditor system as soon as possible.
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Hsueh, Hao-Chien, and 薛皓謙. "The Relationship between Professors in the Board of Directors/Supervisors and Firm Performance." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/4deg5s.
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碩士國立臺灣大學
財務金融學研究所
106
As independent director system was introduced to Taiwan in 2002 and expanding its requirement to more firms, there are more and more college teachers (including professors and lecturers) appointed as independent directors, directors and supervisors nowadays. This study not only examines the relationship between college teachers in the board of directors/supervisors and firm performance, but also analyzes such relationship if college teachers have different teaching background. The empirical result shows that college teachers in the board of directors/supervisors have positive influence on firm accounting performance (i.e. ROA) but not on the market one (i.e. Tobin’s Q). As for professors and lecturers, professors in the board of directors/supervisors have significant positive influence on firm accounting performance while lectures don’t. As to general and technical education system, the empirical result shows that teachers from general colleges serving in the board of directors/supervisors help firm accounting performance, but teachers from technical colleges serving in the board of directors/supervisors may lead to worse firm market performance. At last, for teachers from national, private and foreign colleges, the empirical result cannot support that appointing teachers from either national or foreign colleges as directors/supervisors has positive influence on firm performance. In conclusion, with different characteristics, college teachers in the board of directors/supervisors do have different interactive effects on firm performance.
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Vrbíková, Barbora. "Rozmanitost ve složení dozorčí rady." Master's thesis, 2016. http://www.nusl.cz/ntk/nusl-352532.
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in English Diversity in Composition of Supervisory Boards This paper focuses on analysing the current situation of composition of board of directors in Europe as well as in the United States with the emphasis on supervisory boards in the dualistic model and the non-executive members of boards in the monistic model. It is aimed on one hand at evaluating the business case for diversity as its proponents including the European Commission and several European governments present it, on the other at judging diversity from the critical point of view of its opponents. Lastly, this paper presents different approaches that may be taken to this topic, i.e. the measures that can be engaged in order to achieve higher diversity. In the beginning I shortly summarise the nature and function of the supervisory board under Czech law as well as the general status of supervisory board or the non-executive part of board of directors in both corporate governance systems. I then scrutinise the approaches to diversity in Europe and the USA and look at the different criteria of diversity considered. The centre of this work comprises of evaluating both the advantages and benefits of diversity on one hand and disadvantages and costs on the other. It is particularly this part of the analysis that is crucial to both...
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CAI, BIN-CYUAN, and 蔡檳全. "A Critical Research on Board of Directors and Supervisors Candidates- Focusing on Nomination Committee." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/5ys5wa.
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碩士東吳大學
法律學系
106
In 2005, Taiwan revised the Company Act, whose Article 192-1 stipulated the regulations for nomination of directors and Article 216-1 stipulated the regulations for nomination of supervisors. In 2012, 2016 and 2017, however, Board of Directors of China Petrochemical Development Corporation and Taiwan Tea Corporation and Tatung Co. discovered that director and supervisor candidates nominated by shareholders had failed to meet the qualification requirements or other conditions. Individuals who failed to meet said requirements were excluded from the lists of director and supervisor candidates, which attracted attention from society at large. Shareholders then sought assistance from the courts. This means that problems of company management continued to draw out, and thus compromised the companies' reputations and corporate images. TWSE/TPEx listed companies in Taiwan have adopted a nomination system for directors and supervisors in recent years, with 148 companies implementing such systems in 2013, and 941 companies in 2017, recording quintupled growth. Among TWSE/TPEx listed companies in Taiwan, the percentage of companies that adopted a candidate nomination system quintupled from 10.16% in 2013 to 57.31% in 2017. In 2013, there were four TWSE/TPEx listed companies that had up nomination committees; this number grew sixfold to 29 companies in 2017. Among TWSE/TPEx listed companies, the percentage of TWSE/TPEx listed companies having a candidate nomination committee was 2.7% in 2013; this grew only slightly to 3.08% in 2017. This indicates that willingness to establish candidate nomination committees among TWSE/TPEx listed companies in Taiwan is not particularly high. The legal basis for TWSE/TPEx listed companies in Taiwan setting candidate nomination committees lies with the Corporate Governance Best-Practice Principles for TWSE/TPEx Listed Companies. The Principles, however, do not stipulate the establishment of candidate nomination committees as compulsory. This explains why TWSE/TPEx listed companies are not willing to establish such committees. According to the NYSE Listed Company Manual in the US, however, it is compulsory that all listed companies establish a candidate nomination committee formed exclusively of independent directors. According to NASDAQ Stock Market Rules, members of a candidate nomination committee must be independent directors of said listed company, or a majority of such committee members must be independent directors, with only independent directors allowed to vote. The Commercial Act in South Korea regulates that with listed companies which have reached a certain scale, the nomination of independent directors shall go through a vetting and recommendation committee. This measure reduces the influence of major shareholders in independent directors' nominations. This research suggests that effective from 2018, all TWSE/TPEx listed companies in Taiwan should include electronic voting as one of their voting measures. Complementary measures should also make it compulsory for the election of directors and supervisors to adopt a candidate nomination system. Also, it should be compulsory for TWSE/TPEx listed companies to establish candidate nomination committees, with such committees set up to verify the qualifications and criteria of nominated candidates, and to ensure the disclosure of information by candidate nomination committees. This research also suggests that the election of supervisors and independent directors adopt the system of one shareholder, one vote, or that voting rights of shareholders be limited to 3 percent, so as to reduce the influence of major shareholders on supervisors and independent directors. Such measures enhance the impartiality of supervisors and independent directors in exercising their supervisory responsibilities.
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Liang, Hsin-Hsiang, and 梁信翔. "An Investigation of the Stock Pledging Behavior of The Directors of the Board and Supervisors." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/85034060782637979221.
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碩士國立臺灣大學
財務金融學研究所
94
The purpose of this study is to find out the factors that influence the equity pledge behaviors of board of directors and supervisors in Taiwan listed companies. It is generally thought that the equity pledge of directors and supervisors will deteriorate the agency problem. They expropriate minor shareholders’ benefits by taking advantage of their relationship with companies. This will also devalue companies and result in poor firm performance to increase the probability of financial crisis. When we exam the companies that had financial crisis before, we find that they all have one thing in common – high equity pledge ratio. In previous studies, most papers explain that by the wealth constraint of directors and supervisors. Thus, in this paper, we want to find out other elements that also influence the equity pledge behavior of directors and supervisors. At first, in order to test the relationship between equity pledge behavior of directors and supervisors and the characteristics of companies, we divide the data into two subgroups – companies with equity pledge and companies without equity pledge. And then, we also study on the difference in equity pledge ratio in different companies. We exam this from three perspectives: market environment, companies’ internal characteristics and corporate governance. The empirical result shows that there are indeed some differences in companies’ characteristics between companies with and without equity pledge. For example, small companies have better firm performance. Besides, we also find that external market environment doesn’t affect equity pledge ratio significantly. At last, our empirical result support that companies’ internal characteristics do affect equity pledge behavior of directors and supervisors. Greater debt ratio、smaller EPS and lower sales growth would lead greater equity pledge ratio in companies. Also, it’s more or less increase the explanation ability in equity pledge behavior of directors and supervisors after adding the corporate governance variable.