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Governança e responsabilidade social corporativa: perspectivas dos conselheiros de administração no Brasil; Governance and corporate social responsibility: perspectives of board directors

Parente, Tobias Coutinho
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Dissertação de Mestrado Formato: application/pdf
Publicado em 19/12/2013 PT
Relevância na Pesquisa
46.49%
Este estudo tem por objetivo captar as percepções dos conselheiros de administração no Brasil a respeito das atividades que norteiam o escopo de atuação dos mesmos, em especial da RSC, Responsabilidade Social Corporativa. O intuito é de responder aos seguintes questionamentos: os conselheiros de administração no Brasil possuem uma visão ampliada do seu escopo de atuação, se envolvendo nas questões estratégicas das organizações? Nesse contexto, qual a percepção destes em relação à questão da RSC? O estudo observa a interrelação existente entre RSC, GC, Governança Corporativa, e o papel dos conselheiros. A premissa é de que a agenda da RSC é progressivamente uma extensão da agenda de GC e seria da responsabilidade dos conselhos de administração (ELKINGTON, 2006; INGLEY, 2008; JAMALI et al, 2008). Na pesquisa de campo, foram coletados dados junto a 128 conselheiros certificados pelo BCC, Banco de Conselheiros Certificados do IBGC, Instituto Brasileiro de Governança Corporativa. Os resultados apontam na direção de que os conselheiros não consideram relevantes, dentro do seu escopo de atuação, somente as atividades de cunho monitoramento e controle, mas também as atividades estratégicas e aquelas relacionadas à RSC. A RSC é justificada...

Does Gender Matter? Female Representation on Corporate Boards and Firm Financial Performance - A Meta-Analysis

Pletzer, Jan Luca; Nikolova, Romina; Kedzior, Karina Karolina; Voelpel, Sven Constantin
Fonte: Public Library of Science Publicador: Public Library of Science
Tipo: Artigo de Revista Científica
Publicado em 18/06/2015 EN
Relevância na Pesquisa
46.82%
In recent years, there has been an ongoing, worldwide debate about the representation of females in companies. Our study aimed to meta-analytically investigate the controversial relationship between female representation on corporate boards and firm financial performance. Following a systematic literature search, data from 20 studies on 3097 companies published in peer-reviewed academic journals were included in the meta-analysis. On average, the boards consisted of eight members and female participation was low (mean 14%) in all studies. Half of the 20 studies were based on data from developing countries and 62% from higher income countries. According to the random-effects model, the overall mean weighted correlation between percentage of females on corporate boards and firm performance was small and non-significant (r = .01, 95% confidence interval: -.04, .07). Similar small effect sizes were observed when comparing studies based on developing vs. developed countries and higher vs. lower income countries. The mean board size was not related to the effect sizes in studies. These results indicate that the mere representation of females on corporate boards is not related to firm financial performance if other factors are not considered. We conclude our study with a discussion of its implications and limitations.

Optimizing Board Effectiveness with Gender Diversity : Are Quotas the Answer?

Durbin, Annemarie
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
46.81%
Women are underrepresented on corporate boards but are quotas the answer? Not according to the author. Annemarie Durbin cites evidence that using quotas to increase female representation can lead to tokenism, diminish the overall value of diversity on boards, affect board dynamics, and potentially lead to diluted commitments from existing female board directors. She recommends that, instead of quotas, companies should take a holistic approach toward improving board nominating criteria and processes, developing female middle and senior management talent, and ensuring positive dynamics among diverse board members.

Bhutan : State Owned Enterprises and Corporate Governance Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.87%
This paper reviews state-owned Enterprises (SOE) corporate governance in Bhutan, outlines SOE compensation and personnel management policies, and recommends policy options to improve state enterprise performance and facilitate greater autonomy in SOE pay and personal management. Following the OECD Guidelines on the Corporate Governance of State Owned Enterprises, the report defines an SOE as any enterprise with state ownership, a distinct legal form (separate from the public administration) and having commercial sales and revenues. This definition includes both wholly owned enterprises and those with minority state ownership. Recommendations are provided, and include strengthening the ownership function by creating a specialized division in the Ministry of Finance to represent the government as a shareholder; regularly monitor and assess SOE performance at the aggregate level; encourage active ownership and the systematic exercising of state ownership right; strengthen board responsibilities, qualifications...

Redefining Value : The Future of Corporate Sustainability Ratings

White, Allen L
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.76%
Corporate sustainability ratings are a potentially powerful but still underused tool for building a competitive, socially purposeful, and financially sound enterprise. In a globalizing world replete with business opportunities and risk, corporate boards continually need to reappraise what constitutes good governance. Traditional board duties pertaining to strategic oversight, executive compensation, and financial auditing will remain integral for the foreseeable future. But these alone will not suffice in a time when the prosperity of companies is inextricably linked to issues such as reputation, brands, supply chain management, quality and quantity of human and intellectual capital, protection of human and labor rights, and climate change. Such emergent issues are part of a historical moment in which the role of companies in fostering societal and ecological well-being at the global, national, and local levels is under increasing scrutiny. These are conditions that fuel intensifying public discourse concerning corporate social responsibility...

Responsible Boards

Arguden, Yilmaz
Fonte: International Finance Corporation, Washington, DC Publicador: International Finance Corporation, Washington, DC
Tipo: Brief
EN_US
Relevância na Pesquisa
46.86%
As external pressures - including resource scarcity, globalization, and access to information - continue to increase, the way corporations respond to sustainability challenges will determine their long-term viability and competitiveness. In this paper, the author traces the development of a corporation s attitude toward sustainability from its being an add - on that is nice to have and may enhance corporate reputation, through an approach that sees it more as a tool of risk management, to considering it a builder of value not just for the corporation but for all its stakeholders as well. The paper focuses on the essential role of the corporate board, bringing very practical guidelines to stimulate and assist any board of a corporation embarking on the journey toward greater sustainability and value creation. The paper concludes with a detailed and invaluable checklist of questions for any board to ask itself. This list helps a board build assurance that it is on the right track. It is as useful to a company just starting on the journey as it will be to those companies already well advanced in creating sustainable shared value and that want to make sure one is not missing any opportunities.

A Guide to Corporate Governance Practices in the European Union

International Finance Corporation
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Trabalho em Andamento
EN_US
Relevância na Pesquisa
46.92%
As one of the most rapidly changing corporate governance environments in the world, Europe represents a microcosm of the exciting innovation happening in the corporate governance arena, ranging from new approaches to board-level corporate governance practices to changes in regulatory requirements at the legislative level. Representing a diverse mix of nations at various stages of economic development and market maturity, the European Union as an entity is demonstrating the broad value of a prioritized focus on corporate governance while accounting for individual country and company circumstances. This publication, a guide to Corporate Governance practices in the European Union, offers an overview of the changes taking place across the EU’s corporate governance landscape. It provides a focused examination of specific regulations and practices as well as a frank assessment of the challenges that remain. The value of this publication is that it examines the issues from all sides. It assesses the steps forward and steps backward...

Aufsichtsräte deutscher Aktiengesellschaften: Zusammensetzung, Interventionsaktivitäten, Performance; Supervisory Boards of German Corporations: Composition, Interventions, Performance

Vetter, Karin
Fonte: Universidade de Tubinga Publicador: Universidade de Tubinga
Tipo: Dissertação
DE_DE
Relevância na Pesquisa
37.03%
Den Aufsichtsräten innerhalb des deutschen Corporate Governance Systems ist in den letzten Jahren erhöhte Aufmerksamkeit zugekommen. Es wurden Empfehlungen und gesetzliche Vorschriften formuliert, die die Zusammensetzung des Aufsichtsratsgremiums sowie dessen Tätigkeiten betreffen. Diesem Reformprozess steht ein Mangel an wissenschaftlichen Studien zu Aufsichtsräten in deutschen Unternehmen gegenüber. Vor dem Hintergrund der aktuellen Entwicklungen und der angesprochenen Forschungslücke leistet die vorliegende Arbeit einen Beitrag dazu, dualistische Aufsichtsräte in Deutschland näher zu beleuchten. Nach der Einführung widmet sich Kapitel 2 der Frage, wie deutsche Aufsichtsräte hinsichtlich ihrer fachlichen Qualifikation und ihrer demographischen Merkmale zusammengesetzt sind und welche systematischen Unterschiede bei der Zusammensetzung der Aufsichtsräte bestehen. Darauf aufbauend befaßt sich Kapitel 3 mit den Einflussfaktoren, die die Heterogenität der Aufsichtsratszusammensetzung bestimmen. Im Detail analysiert Kapitel 3, inwiefern die Größe des Unternehmens die Heterogenität der Aufsichtsratszusammensetzung hinsichtlich fachlicher und demographischer Eigenschaften beeinflußt. Die Effekte einer unterschiedlich heterogenenen Aufsichtsratszusammensetzung auf die Aufsichtsrats- sowie die Unternehmensperformance sind Kern von Kapitel 4. Der Zusammenhang zwischen Aufsichtsratsheterogenität und Aufsichtsrats- bzw. Unternehmensperformance wird zunächst allgemein untersucht...

The differential approach to gender quotas in Spain : regulated politics and self-regulated corporate boards

VERGE, Tània; LOMBARDO, Emanuela
Fonte: Instituto Universitário Europeu Publicador: Instituto Universitário Europeu
Tipo: Trabalho em Andamento Formato: application/pdf; digital
EN
Relevância na Pesquisa
56.6%
In 2007 Spain introduced statutory electoral and corporate board gender quotas as part of a broader gender equality programme. These quotas greatly differ with regard to the parity criteria in use, the period of application, and the measures for promoting compliance or sanctioning non-compliance. Electoral quotas are by far the most successful ones. This paper seeks to tease out why corporate board quotas lag behind electoral gender quotas. To explain this differential approach to gender quotas we assess the broader institutional configuration affecting these reform processes by looking at the obstacles and enabling (national and international) factors, the actors and networks pushing for or resisting each of the quota reforms as well as their framing strategies. We conclude that most of the enabling factors that exercised pressure in favour of gender quotas in politics were weak or missing in the economic sector and, thus, could not counteract the strong oppositional factors.

Gender quotas for corporate boards in Norway

TEIGEN, Mari
Fonte: Instituto Universitário Europeu Publicador: Instituto Universitário Europeu
Tipo: Trabalho em Andamento Formato: application/pdf; digital
EN
Relevância na Pesquisa
66.84%
The gender quota reform for corporate boards, first adopted in Norway in 2003 and fully implemented from 2008, has had great repercussions. A wave of diffusion of corporate board quota legislation has swept across Europe, and some other parts of the world. This paper departs from the ongoing European processes of gender quotas for corporate boards being in the making, and examines how the Norwegian expansion of gender quota regulation from the public sector to the corporate world was made possible. The strong tradition in Norway to introduce gender quota arrangements to promote gender balance is emphasized in particular. The paper addresses national preconditions and processes. Central questions are: How does this reform fit with the Norwegian gender equality policy tradition? And what external factors – and institutional tensions – facilitated the policy process? What kind of problem(s) did the gender quota legislation aim to solve? What were the main positions in public and political debates surrounding the policy process? What was the role of policy agency for the result of the policy process?

Diversidade de género nos conselhos de administração nas entidades com ações cotadas na euronext lisbon

Carreira, Francisco; Pardal, Pedro; Heliodoro, Paula
Fonte: Repositório Comum de Portugal Publicador: Repositório Comum de Portugal
Tipo: Conferência ou Objeto de Conferência
Publicado em /09/2015 POR
Relevância na Pesquisa
36.91%
Comunicação apresentada no 6th International Women & Business Conference, 21-23 de setembro 2015, Sao Paulo, Brasil; O peso das mulheres nos conselhos de administração (CA) e em órgão de gestão de topo é, ainda, bastante reduzido, sendo que diversas entidades reclamam por uma mudança. A diversidade de género nos CA é, hoje em dia, um tópico de investigação de grande relevância, sendo vários os estudos desenvolvidos, debruçando-se sobre as determinantes da presença de mulheres no CA ou se esta presença influencia a performance dos órgãos e das organizações (por exemplo, Adams e Ferreira, 2009). O presente estudo tem como objetivo analisar a diversidade de género nos CA de entidades com ações cotadas na Bolsa de Lisboa, tendo por base o ano de 2014. Os resultados para a nossa amostra permitiram identificar uma fraca participação das mulheres nos CA (cerca de 9%), sendo que estas quando presentes desenvolvem essencialmente funções executivas. A presença de mulheres no CA tem uma maior associação a setores de atividade ligados a prestação de serviços e com maior aproximação ao consumidor final, bem como, está positivamente relacionada com a antiguidade da empresa.; Abstract: The weight of women on corporate boards and on top management is still reduced and several entities claim for a change. Therefore...

Report on the Observance of Standards and Codes : Corporate Governance Country Assessment, Bulgaria

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Corporate Governance Assessment (ROSC); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.87%
Market capitalization of the Bulgarian Stock Exchange is low at four percent of gross Domestic Product, having fallen from a peak of seven percent in 1998. Similarly, market turnover remains low, even by the standards of transition economies. However in recent years, Bulgaria has made substantive concrete improvements in its legal and regulatory framework, in part in preparation of accession to the European Union. The Bulgarian National Securities Commission was established in 1996 and subsequent amendments to both the commercial and securities legislation strengthened the corporate governance framework. In particular, the 2001 revisions and amendments adopted in June 2002 substantially strengthened shareholder rights for "public" companies. In addition, proposed additional amendments will ensure pre-emptive rights of existing shareholders and will require legal entities to disclose both direct and indirect ownership interests in Bulgarian companies, where such interests are at five percent or more of the company. The assessment recommends three additional areas of improvements: 1) Amend the Commercial Law to establish a minimum quorum for shareholders' meetings and strengthen the duties of members of (supervisory) boards of directors. 2) Encourage private sector organizations and business associations to prepare a corporate governance code...

Uruguay : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment; Uruguay - Informe sobre el cumplimento de normas y codigos (ROSC) : evaluacion nacional de la gobernanza corporative

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Corporate Governance Assessment (ROSC); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.9%
This report provides an assessment of Uruguay's corporate governance policy framework, enforcement, and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Uruguay. The paper discusses Uruguay's recent advances in financial and economic stability have given rise to an adequate basis for capital markets deepening and growth. However, these initial advances were jeopardized by a series of defaulting securities issuers and the 2002 financial instability episode which led to a perception of high risk and unpredictability of capital markets. The report then identifies several key steps to take in order to set strong corporate governance efficiency in the state owned financial sector. These steps include: improving corporate information, particularly ownership disclosure, related party transactions procedures, and financial reporting; promoting effective and active boards of directors; strengthening institutions, including the securities regulator, and the companies registry; and modernizing securities markets by strengthening intermediation and related regulations.

Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Corporate Governance Assessment (ROSC); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.97%
This report provides an assessment of Pakistan's corporate governance policy framework. In Pakistan, awareness of the importance of good corporate governance is high among policymakers and standard setters. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Pakistan. The focus of the assessment is on listed companies, although reference is also made to banks and other financial institutions. Reform to improve corporate governance has been significant, including the introduction of a code of corporate governance and increased vigilance by regulators. Highly concentrated control by significant shareholders has limited the objectivity of boards and reduced the impact of some of the recent reforms. More generally, many smaller and family-owned companies have a limited awareness of the potential benefits of improved corporate governance. Corporate governance reform needs to percolate throughout the corporate sector, including family-owned businesses. The report concludes that further steps need to be taken to protect shareholder rights, including disclosure of beneficial ownership, and that boards must become more effective...

Corporate Governance and Social Media : A Brave New World for Board Directors

Chaher, Santiago; Spellman, James David
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
46.5%
Publication of secret diplomatic cables through Wikileaks shocked governments and provided a sudden wake-up call to all who thought they were safe from the new power of social media. Consequences went well beyond mere embarrassment; they helped spark the first 'Arab spring' uprising in Tunisia, and other forms of social media helped sustain popular dissent elsewhere in the Middle East and North Africa region. What quickly became obvious is that communications online had a demonstrated a new capacity to upend political agendas everywhere. Widespread use of social media has equal potential to transform corporate agendas. Tools used at Tahrir Square are also available in the capital market for use by directors as much as by disgruntled employees, by consumers both satisfied and aggrieved, by competitors, and by shareowners both retail and institutional in confrontations with the board. By the same token, though, corporations can use social media channels creatively to improve stakeholder loyalty, and improve performance. Corporations can develop new means of constructive dialogue with different constituencies. Benefits might include early warning of threats...

Corporate Governance in Emerging Markets : Why It Matters to Investors—and What They Can Do About It

Ararat, Melsa; Dallas, George
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH
Relevância na Pesquisa
46.9%
What should investors do when scholarly research on corporate governance in emerging markets does not provide conclusive evidence on which aspects of governance matter most across all the emerging markets and how they affect firm performance? A researcher and a practitioner team up to offer guidelines and recommendations that focus on board independence and business group affiliation. Every day, institutional investors in emerging markets must make practical decisions on the basis of incomplete and at times conflicting information. So, it is critically important that they make the best use of this imperfect knowledge. Moreover, investors too often enter emerging markets with misguided perceptions of the underlying realities. And worse, they may cling to a conceptual framework of governance that does not allow them even to consider the searching questions they should be asking. This Private Sector Opinion, by the authors, explicitly highlights this problem. The authors identify a serious gap in research on emerging markets between high-level cross-country studies...

New Corporate Governance in the Post-Crisis World

Hilb, Martin
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH
Relevância na Pesquisa
36.94%
The new corporate governance concept is articulating goes back to the roots of good corporate governance, which is the ability to act as a visionary and effective decision body, exerting both strategic leadership and control. It's also an invitation to think twice about the applicability of "best practices" in different legal contexts and business models. Arguably, despite some common features, the appropriate corporate governance of a family business company will differ from that of a large listed company. In addition, both the financial crisis and previous cases of large corporate failures have raised critical questions about the role of board directors in risk management. Are boards sufficiently equipped with the necessary knowledge, skills and expertise to provide the appropriate strategic vision and control function? The answer is certainly more complex and nuanced than it seems. Overly generalist boards may not grasp certain technicalities (with dreadful consequences), yet overly technical boards may completely miss the big picture.

The Effectiveness of Boards of Directors of State Owned Enterprises in Developing Countries

Vagliasindi, Maria
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH
Relevância na Pesquisa
47.03%
This paper aims to shed some new light on the conditions needed to ensure the effectiveness of Boards of Directors of state owned enterprises with a focus on infrastructure sectors. In the case of developing countries, empirical studies have found evidence of positive links between the composition of the Board of Directors and financial performance. Yet the lack of solid theoretical foundations, and in some cases poor data availability, makes the conclusions of most studies weak. Several policy recommendations emerge from the review of the economic literature and evidence from case studies. First, the introduction of a sufficient number of independent directors emerges as an important corporate governance milestone. Empowering them to exercise effective monitoring of management, however, may prove to be a formidable challenge for of state owned enterprises. More attention to board procedures, particularly related to the Board selection and evaluation process, is essential, to produce the necessary insulation of Boards from government interference. Ensuring sufficient continuity of services to directors is particularly crucial to improve corporate governance. In addition...

Behind the boardroom's door: the role and contributions of corporate boards

Simões, Ana Cristina Moreira
Fonte: Instituto Universitário de Lisboa Publicador: Instituto Universitário de Lisboa
Tipo: Tese de Doutorado
Publicado em //2012 ENG
Relevância na Pesquisa
47.01%
Tese de doutoramento de Gestão de Empresas/ JEL classification: G34, G39.; Scholars and practitioners widely accept that spectacular corporate failures and the misuse of managerial power significantly contributed to the rising prominence of the subject of corporate governance and the boards of directors. Triggered by shareholder activism and aiming to solve the governance failures, corporate governance reformists, embodying the shareholder primacy model, have attempted to unify corporate governance mechanisms and practices. Formal regulations and policies are necessary, but they are not enough to fully understand effective governance. Scholars recognise that reforms are contributing to increasing the gap between what firms expect boards of directors to do and what they are actually doing, instead of bridging the difference between board role expectations and actual board role reality and, consequently, affecting board performance. Before normalizing the boards of directors, it is needed to describe and before describing it is needed to observe them in action. So far, academicians have not been able to empirically confirm that boardroom reforms will lead to more effective boards and ultimately positively affect corporate performance. As social actors we all have biased views...

Universal banks and corporate control: Evidence from the global syndicated loan market

Ferreira, Miguel A.; Matos, Pedro
Fonte: Oxford University Press Publicador: Oxford University Press
Tipo: Artigo de Revista Científica
Publicado em /04/2012 ENG
Relevância na Pesquisa
46.44%
We investigate the effects of bank control over borrower firms whether by representation on boards of directors or by the holding of shares through bank asset management divisions. Using a large sample of syndicated loans, we find that banks are more likely to act as lead arrangers in loans when they exert some control over the borrower firm. Bank-firm governance links are associated with higher loan spreads during the 2003-2006 credit boom, but lower spreads during the 2007-2008 financial crisis. Additionally, these links mitigate credit rationing effects during the crisis. The results are robust to several methods to correct for the endogeneity of the bank- firm governance link. Our evidence, consistent with intertemporal smoothing of loan rates, suggests there are costs and benefits from banks’ involvement in firm governance.