Building of a Corporate Governance System in Poland: initial experiences

Koładkiewicz, Izabela

doi:10.1111/1467-8683.00250

Cited by 20 publications

(12 citation statements)

References 1 publication

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“…The importance of corporate governance for emerging market economies has been widely recognized. However, the debate has focused on issues such as privatization, board composition, executive compensation, hostile takeovers and shareholder activism, corporate governance disclosures, and the general performance of corporate governance systems (Mickiewicz 2009;Berglof and Sarmistha 2007;Mallin and Ranko 2000;Koładkiewicz 2001;Filatotchev et al 2007a, b, c;Filatotchev 2006;Tamowicz and Dzierzanowski 2003). The research related to ACs in this context is limited.…”

Section: Audit Committee (Ac) Researchmentioning

confidence: 99%

Exploring audit committee practices: oversight of financial reporting and external auditors in Poland

Dobija

2013

J Manag Gov

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This paper investigates audit committee (AC) practices in relation to the oversight of financial reporting and external auditors. We conducted semi-structured interviews of Polish public interest entities to explore AC processes in a different environment from the widely researched Anglo-American model of corporate governance. The results of the study highlight the complexity and contradictory nature of solving governance issues in an environment characterized by a high concentration of ownership. Monitoring is stronger for companies whose dominant shareholder is a foreign investor. Local firms are generally slower to embrace an AC as an effective tool of oversight for financial reporting and external auditors. In general, the processes utilized by ACs are similar to those reported in the literature. The collected evidence does not provide support for a single dominant theory that explains the actual practices of ACs. In fact, multivocality proves to be a more useful approach for explaining various aspects of AC practices.

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Section: Audit Committee (Ac) Researchmentioning

confidence: 99%

Exploring audit committee practices: oversight of financial reporting and external auditors in Poland

Dobija

2013

J Manag Gov

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“…Using an index they report that the level of investor protection and securities markets regulations is comparable to the "old" EU member countries. Thereby, corporate governance standards have improved in Poland and it may have an impact on the protection of minority shareholders and the dividend payout of listed companies (Koladkiewicz, 2001).…”

Section: Corporate Governance In Polandmentioning

confidence: 99%

Corporate Governance and Dividend Policy in Poland

Kowalewski¹,

Stetsyuk²,

Talavera

et al. 2007

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. We find evidence that an increase in the TDI or its subindices leads to an increase in the dividend-to-cash-flow ratio. These results support the hypothesis that companies with weak shareholder rights pay dividends less generously than do firms with high corporate governance standards. Therefore, minority shareholders often use power to extract dividends. We also find that large and more profitable companies have a higher dividend payout ratio, while riskier and more indebted firms prefer to pay lower dividends. Terms of use: Documents in

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“…However, most of these studies do not focus on the Supervisory Board. Although Koladkiewicz (2001) examines the development of the Supervisory Board in Poland, the study fails to provide empirical analysis.…”

Section: Literature Reviewmentioning

confidence: 99%

The Usefulness of the Supervisory Board Report in China

Dahya

Karbhari

Xiao

et al. 2003

Corporate Governance

107

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Chinese listed companies adopt a two-tier board structure, a Board of Directors (BoD) and a Supervisory Board. They are also required to provide in their annual reports a supervisory board report (SBR). However, Congquin, a listed company, failed to issue a SBR in its 1998 annual report. This study specifically investigates the usefulness of the SBR by examining the stock market reaction to Congquin's SBR omission. The study also examines the Supervisory Board's reporting process and users' perceived usefulness of the SBR through interviews with directors, supervisory board members and senior executives of 16 listed companies. Discussions were also held with financial analysts, regulatory officials and academics. Our event study suggests that the absence of the SBR in Congquin's 1998 annual report caused a negative market reaction suggesting that investors had considered the SBR and the Supervisory Board important and were discouraged by the problems manifested by the absence of the SBR. Our interviews reveal that the usefulness of the SBR depends on the role that the Supervisory Board plays in corporate governance. If the Supervisory Board is an honoured guest, a friendly advisor, or a censored watchdog, it is unlikely that the SBR will convey much useful information. By contrast, if the Supervisory Board acts as an independent watchdog, then the SBR would be useful. Given the fact that the Supervisory Board in most of the companies that participated in the interviews fell into the first three categories, there remains a strong need to improve the usefulness of the SBR and strengthen the functioning of the Supervisory Board. Copyright 2003 Blackwell Publishing Ltd..

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Building of a Corporate Governance System in Poland: initial experiences

Cited by 20 publications

References 1 publication

Exploring audit committee practices: oversight of financial reporting and external auditors in Poland

Exploring audit committee practices: oversight of financial reporting and external auditors in Poland

Corporate Governance and Dividend Policy in Poland

The Usefulness of the Supervisory Board Report in China

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