Corporate Governance, Risk and Crises in Small Companies: Shedding Light from inside the Boardroom Black Box

Spiers, Leslie

doi:10.18559/ebr.2017.1.6

Cited by 4 publications

(4 citation statements)

References 34 publications

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“…Clarke and Klettner (2009) and Uhlaner et al (2007) suggest that directors of small firms are more worried about survival than planning and control as corporate governance imperatives. In this line, Crossan et al (2015) emphasize that the lack of governance within small companies is a conditioning factor for business failure, while similar opinions are shared by Saxena and Jagota (2015) and Spiers (2017). Thus, an organic interconnection exists between corporate governance and risk behaviour of managers, one example of which is the timely accounting information disclosure violation (later also referred to as TADV).…”

Section: Corporate Governancementioning

confidence: 99%

“…The paper contributes to the literature by presenting an original conceptual framework for the corporate governance dimensions affecting SMEs' risk behaviour, specifically timely annual report submission violation. Only a few previous studies explore corporate governance variables in the SME context (Spiers 2017). In addition, violation of annual report submission deadlines is a rarely studied topic in the case of SMEs (Lukason and Camacho-Miñano 2019).…”

Section: Introductionmentioning

confidence: 99%

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Corporate Governance Characteristics of Private SMEs’ Annual Report Submission Violations

Lukason

Miñano

2020

JRFM

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Managers are, by law, responsible for the timely disclosure of financial information through annual reports, but despite that, it is usual that they are engaged in the unethical behaviour of not meeting the submission deadlines set in law. This paper sheds light on the afore-given issue by aiming to find out how corporate governance characteristics are associated with annual report deadline violations in private micro-, small- and medium-sized enterprises (SMEs). We use the population of SMEs from Estonia, in total 77,212 unique firms, in logistic regression analysis with the delay of presenting an annual report over the legal deadline as the dependent and relevant corporate governance characteristics as the independent variables. Our results indicate that the presence of woman on the board, higher manager’s age, longer tenure and a larger proportion of stock owned by board members lead to less likely violation of the annual report submission deadline, but in turn, the presence of more business ties and existence of a majority owner behave in the opposite way. The likelihood of violation does not depend on board size. We also check the robustness of the obtained results with respect to the severity of delay, firm age and size, which all indicate a varying importance of the explanatory corporate governance characteristics.

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Section: Corporate Governancementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Corporate Governance Characteristics of Private SMEs’ Annual Report Submission Violations

Lukason

Miñano

2020

JRFM

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“…Section 404 of the Sarbanes Oxley Act 2002 is mostly referred to on issues of financial compliance, internal control structures and the methods of reporting reliable financial information as attested by auditors (Christensen et al, 2010). The definition of board independence is often taken in context, as most of the factors vary depending on country and organisational setting (Archer, 2016).The role of non-executive directors has often been associated with good governance and performance as clearly stated in the UK corporate governance code (Spiers, 2017;Nordberg, 2017). From the corridors of the EU corporate governance and transparency reforms are a priority for all member states in accordance with the European Corporate Law reforms and several other Directives (European Economic and Social Committee and the Committee of the Regions, 2012).…”

Section: Board Independencementioning

confidence: 99%

Corporate Governance Issues in the Public Sector: Board Perspective and Peculiarities

Lartey

Kong²,

Afriyie³

et al. 2020

BJO&PM

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Goal: The objective of the paper is to extend the discussions on corporate governance to the public sector and examine good governance from a Ghanaian institutional context. Design / Methodology / Approach: Literature is based on relevant theoretical concepts and seven explanatory variables of corporate governance. Primary data was abstained through structured questionnaires administered to public servants from the Ministries, Departments and Agencies-MDA's in Accra. Ordinary Least Square multiple regression was employed to analyze a total valid sample of 568. The findings represent the opinions of board of directors, internal auditors, senior management and employees. Results: The empirical result shows that audit committees, leadership, board effectiveness, accountability and directors' qualification are strong determinants of good governance in public organizations. However, board size has no impact on good governance when board independence is negative. There is evidence that international corporate governance principles are reasonably visible without any significant deviations. Limitation of the investigation: The study is empirically limited with the absence of key variables such as corruption, ethnicity and tribal politics in public organizations in Ghana. These are major factors associated with institutional governance in developing countries. Practical implications: The study observed a negative relationship between board independence and good governance attributed to lack of board diversity. The study implies that gender balanced boards composed of higher ratio of female directors could enhance decision-making and guarantee board effectiveness. Originality / Value: The study emphasizes that public and private organizations share almost similar governance indicators, considering the model estimation. There is evidence that corporate governance is gaining popularity in the public sector, a discussion that is often limited to the private sector. The study contributes to the limited existing findings on the subject from a Ghanaian institutional context. Finally, the results validate many empirical opinions about the negative relationship between good governance and board size from different institutional environments.

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“…The economic crisis brought about by the Covid-19 pandemic has found companies in some sectors struggling to survive -particularly in those countries that did not successfully contain its spread. The pandemic can be especially dangerous to small companies, with little to no financial reserves, and thus vulnerable in crisis situations (Spiers, 2017). With many governments unable to fully neutralize the effects of the pandemic, some small businesses turned to consumers for help, organizing crowdfunding fundraisers.…”

Section: Introductionmentioning

confidence: 99%

Donation crowdfunding as a source of relief for small businesses

Wieczerzycki¹

2021

Towards the „new Normal” After COVID-19 – A Post-Transition Economy Perspective

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Purpose: The purpose of this chapter is to examine advantages and limitations of donation crowdfunding as away of providing relief for small businesses and assessing its potential development in that field in the post-pandemic future. Design/methodology/approach: The chapter is based on critical literature analysis, supported by empirical examples for illustrative purposes. Findings: Donation crowdfunding can be aviable way of providing relief to small companies during the times of crisis, by positioning companies as beneficiaries of charitable endeavors carried out by consumers. Practical implications: Companies ability to trigger altruistic responses in their consumers is an important information in times of crises. Moreover, the information serves as an additional argument for building meaningful relationships with consumers and establishing locally embedded or virtual communities, which make securing relief through donation crowdfunding easier. Originality and value: The subject of using donation crowdfunding by companies to secure relief funds has seen very limited elaboration in the current literature.

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Corporate Governance, Risk and Crises in Small Companies: Shedding Light from inside the Boardroom Black Box

Cited by 4 publications

References 34 publications

Corporate Governance Characteristics of Private SMEs’ Annual Report Submission Violations

Corporate Governance Characteristics of Private SMEs’ Annual Report Submission Violations

Corporate Governance Issues in the Public Sector: Board Perspective and Peculiarities

Donation crowdfunding as a source of relief for small businesses

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