Corporate Governance Foundations

Davó, Nuria Bajo; Martínez, Víctor Manuel Martín; Rodríguez-Carrasco, José Manuel

doi:10.1007/978-3-030-13229-3_1

Cited by 2 publications

(2 citation statements)

References 19 publications

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“…Balancing stakeholders' interests and firm needs is imperative for the sustainability of the firm. The board of directors bears this role, and the corporations with this kind of model will have stakeholder groups to elect or appoint the board of management members (Davó et al, 2019). Controlling is essential for firms, whereas their corporate governance is described using stakeholder theory (Hilb, 2016).…”

Section: Corporate Governancementioning

confidence: 99%

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Corporate Governance on Natural Resources: Lessons from the Past Years’ Scandal, Fraud, and Corruption

Naomi,

Akbar

2023

APFJournal

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The recognition of corporate governance as one of the solutions to scandal, fraud, and corruption has generated interest among scholars who seek to comprehend the underlying theoretical mechanism of corporate governance practices. Using scientific literature from the Web of Science and news media, this research attempts to probe the conceptual basis for corporate governance in preventing crimes in managing natural resources. Based on the theories of corporate governance, this study reviews the framework and elaborates the challenges of implementing the practices of corporate governance in reducing scandal, fraud, and corruption. Agency and stakeholder theories are mostly used to scrutinize the practice of doing good business. We also evaluate how news media serve as an effective avenue for the public to receive unbiased information. Some major corporate cases reported in news media have indeed provoked scholars to shed light on the role of corporate governance in the presence of the crisis.

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Section: Corporate Governancementioning

confidence: 99%

“…In many cases, stakeholder interests can differ from the interests of the firms (Bajo Davó et al, 2019). In other cases, the objectives of the firms can be aligned or even in contract with the stakeholders.…”

Section: From Firm's Accountability and Reputation Among Broader Stak...mentioning

confidence: 99%

Corporate Governance on Natural Resources: Lessons from the Past Years’ Scandal, Fraud, and Corruption

Naomi,

Akbar

2023

APFJournal

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Investor protection and cost of debt: Evidence from dividend commitment in firm bylaws

Yang

Wang

et al. 2020

Corporate Governance

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Research Question/Issue: This study seeks to explore a new type of investor protection mechanism-dividend commitment in firm bylaws-that has emerged from a new Chinese dividend regulation. Dividend commitment, forcing firms to make an explicit commitment to maintain a given dividend level, may affect the benefit and risk of debtholders and, accordingly, their required returns. Research Findings/Insights: Using a sample of Chinese listed firms between 2006 and 2017, we find a significantly lower cost of debt for high-commitment firms than for low-commitment firms. The differences are pronounced for firms that actively respond to the regulation, those that operate in a weaker information environment, those that suffer from higher agency costs due to insider control, and those with lower debt ratios. Theoretical/Academic Implications: This study provides empirical evidence of the economic consequences of dividend commitment. The results suggest that dividend commitment is associated with changes in the benefits and risks of debtholders and that such an association is conditional on firm-level factors; thus, the findings contribute to investor protection theory. Practitioner/Policy Implications: This study provides insights to policy makers interested in evaluating investor protection in an emerging economy. The results highlight the financial implications of an innovative investor protection mechanism.

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Corporate Governance Foundations

Cited by 2 publications

References 19 publications

Corporate Governance on Natural Resources: Lessons from the Past Years’ Scandal, Fraud, and Corruption

Corporate Governance on Natural Resources: Lessons from the Past Years’ Scandal, Fraud, and Corruption

Investor protection and cost of debt: Evidence from dividend commitment in firm bylaws

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