Corporate governance
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Corporate governance is the process and structure used to direct and manage a company's affairs towards enhancing business prosperity and accountability, with the goal of long-term shareholder value while considering other stakeholders. It refers to how power within a corporation is exercised for stewardship of assets and resources to maintain shareholder value and satisfy stakeholders, balancing economic and social goals. Good governance is key to economic and social transformation, as corporations have become engines of change.
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Corporate governance
Corporate governance is about applying best management practices, complying with laws, adhering to ethical standards, and effectively managing and distributing wealth for sustainable development of all stakeholders. It specifies the rules and procedures for decision making regarding corporate affairs and directs and controls corporations through the distribution of rights and responsibilities of boards, managers, shareholders, and other stakeholders. Strong corporate governance leads to benefits like growing revenues and profits, a widening customer base, goodwill, and enhanced trust and confidence from all stakeholders. It helps achieve sustainable development of businesses and society through principles like fairness, mutual trust, transparency, and sharing of knowledge and experiences.
GOVERNANCE PPT.pptx
The document discusses the topic of corporate governance. It defines governance as the leadership and direction given to a company to achieve its objectives. Governance involves monitoring and controlling decisions made by management. The document outlines several key principles of governance including sustainable development of stakeholders, effective management of wealth, compliance with laws, and adherence to ethical standards. It also discusses the four pillars of governance: accountability, fairness, transparency, and independence. The document provides examples of elements of good governance practices such as the board of directors, control environment, disclosure, shareholder rights, and board commitment.
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This document provides an overview of corporate governance, including definitions, key principles, and landmarks in the development of corporate governance standards globally and in India. It defines corporate governance as the systems and processes by which companies are directed and controlled to ensure they operate in the best interests of stakeholders. Some key developments include codes established by the Cadbury Committee in the UK in 1992 and by the Confederation of Indian Industry in 1998, as well as guidelines from the OECD and regulatory changes in India.
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3. Administrators are typically found in government, military, education, and religious organizations, while management is used more by businesses.
Corporate goverance
This document discusses corporate governance. It defines corporate governance as the processes through which corporations' objectives are set and pursued, and how they are monitored. The key pillars of corporate governance are identified as accountability, transparency, responsibility, and fairness. The elements of corporate governance are also discussed. An introduction to corporate governance in India is provided, along with a table ranking countries based on their corporate governance standards and practices. Recent developments in corporate governance are mentioned, and the document concludes with a summary.
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This document discusses incorporating value-based approaches like ethics into corporate governance practices. It argues that compliance-based governance is insufficient and that integrating ethics can help address shortcomings. The paper explores institutionalizing ethics through mechanisms like establishing an ethics committee and codes of conduct. A case study of a Malaysian communications company found it had implemented several ethical mechanisms like a "Defalcation Committee" to handle ethical issues, showing how institutionalizing ethics can enhance corporate governance.
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This document discusses corporate governance in mergers and acquisitions. It states that corporate governance involves best practices, legal compliance, and ethical standards to ensure distribution of wealth and social responsibility. Mergers and acquisitions allow companies to become more competitive and efficient by gaining market share or achieving greater scale. Good corporate governance after an acquisition or merger is important, involving mechanisms like boards and incentives to monitor stakeholders' interests and maintain shareholder value.
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Corporate governance
Corporate governance is about applying best management practices, complying with laws, adhering to ethical standards, and effectively managing and distributing wealth for sustainable development of all stakeholders. It specifies the rules and procedures for decision making regarding corporate affairs and directs and controls corporations through the distribution of rights and responsibilities of boards, managers, shareholders, and other stakeholders. Strong corporate governance leads to benefits like growing revenues and profits, a widening customer base, goodwill, and enhanced trust and confidence from all stakeholders. It helps achieve sustainable development of businesses and society through principles like fairness, mutual trust, transparency, and sharing of knowledge and experiences.
GOVERNANCE PPT.pptx
The document discusses the topic of corporate governance. It defines governance as the leadership and direction given to a company to achieve its objectives. Governance involves monitoring and controlling decisions made by management. The document outlines several key principles of governance including sustainable development of stakeholders, effective management of wealth, compliance with laws, and adherence to ethical standards. It also discusses the four pillars of governance: accountability, fairness, transparency, and independence. The document provides examples of elements of good governance practices such as the board of directors, control environment, disclosure, shareholder rights, and board commitment.
Introduction to Corporate Governance Sep 17 2011
Introductory remarks on good corporate governance practices and implications on board performance and rights and responsibilities for Mongolian directors.
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This document provides an overview of corporate governance, including definitions, key principles, and landmarks in the development of corporate governance standards globally and in India. It defines corporate governance as the systems and processes by which companies are directed and controlled to ensure they operate in the best interests of stakeholders. Some key developments include codes established by the Cadbury Committee in the UK in 1992 and by the Confederation of Indian Industry in 1998, as well as guidelines from the OECD and regulatory changes in India.
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2. Administration is a higher-level function that sets the framework for management's operational decisions.
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Corporate goverance
This document discusses corporate governance. It defines corporate governance as the processes through which corporations' objectives are set and pursued, and how they are monitored. The key pillars of corporate governance are identified as accountability, transparency, responsibility, and fairness. The elements of corporate governance are also discussed. An introduction to corporate governance in India is provided, along with a table ranking countries based on their corporate governance standards and practices. Recent developments in corporate governance are mentioned, and the document concludes with a summary.
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This document discusses incorporating value-based approaches like ethics into corporate governance practices. It argues that compliance-based governance is insufficient and that integrating ethics can help address shortcomings. The paper explores institutionalizing ethics through mechanisms like establishing an ethics committee and codes of conduct. A case study of a Malaysian communications company found it had implemented several ethical mechanisms like a "Defalcation Committee" to handle ethical issues, showing how institutionalizing ethics can enhance corporate governance.
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This document discusses corporate governance in mergers and acquisitions. It states that corporate governance involves best practices, legal compliance, and ethical standards to ensure distribution of wealth and social responsibility. Mergers and acquisitions allow companies to become more competitive and efficient by gaining market share or achieving greater scale. Good corporate governance after an acquisition or merger is important, involving mechanisms like boards and incentives to monitor stakeholders' interests and maintain shareholder value.
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The document summarizes various management theories and perspectives including:
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This document discusses four main streams of research on organizations: why firms exist, agency theory, strategic management theory, and cooperative organizational economics. It focuses on explaining agency theory and stewardship theory. Agency theory argues managers may act in their own self-interest rather than shareholders, while stewardship theory proposes managers act as stewards aligned with organizational objectives. The document compares the key assumptions and perspectives of agency theory versus stewardship theory on issues like human motivation, governance structures, and risk orientation.
Administration Vs. Management
Administration involves setting policies, objectives, and plans for an organization, while management focuses on implementing those plans and coordinating organizational activities. Practically, managers perform both administrative and management functions, with higher-level managers spending more time on administration and lower-level managers focusing more on operational management. Public administration differs from private administration in that it operates within a legal and political framework, aims to serve public needs rather than profit, and is accountable to the public. It also typically involves larger-scale operations and provides essential services.
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(1) board size (2) Female Member (3) CEO duality (4) Education of Directors (5) Board working experience(6) independent directors (7) board compensation (8) Board ownership (9) Audit committee (10) Board composition(11)Leadership Structure
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This document summarizes a study that tested competing theories about CEO governance structures - agency theory and stewardship theory. Agency theory predicts that separating the roles of CEO and board chair leads to higher shareholder returns, while stewardship theory predicts the opposite. The study compared shareholder returns for companies that had the same person as CEO and board chair versus companies that separated the roles, while controlling for industry and size. The results did not support agency theory and provided some support for stewardship theory.
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This document discusses stewardship theory as it relates to the relationship between principals and managers. It defines stewardship as responsible management of resources. Stewardship theory proposes that managers act as stewards, aligning their interests with the organization by maximizing performance. When managers exhibit pro-organizational behaviors motivated by growth and achievement rather than self-interest, empowering governance structures are appropriate as stewards can be trusted. Situational factors like an involvement-oriented philosophy and collectivist culture also influence principal-steward relationships characterized by trust rather than strict control.
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This study examines the effects of corporate governance on firm performance in Taiwanese firms from 2001 to 2008. Several corporate governance mechanisms are analyzed in relation to three measures of firm performance: return on assets, stock return, and Tobin's Q. The results show that board independence and insider ownership positively impact firm performance, while large board size, CEO duality, high stock pledge ratios, and large deviations between voting and cash flow rights negatively impact firm performance. The findings imply that strengthening board independence and insider ownership can improve firm performance, whereas reducing board size, separating CEO and board chair roles, lowering stock pledges, and aligning voting and cash flow rights can also positively impact firm performance.
Stewardship theory
Youtube Video Link -
https://youtu.be/dx28fuD_D4w
Stewardship Theory, developed by Donaldson and Davis focuses on understanding the existing relationships between ownership and management of the company.
Under Stewardship theory managers are considered as Stewards which means someone who is responsible to protect and act in the best interest of shareholders.
It is opposite to agency theory which mentions the conflict of interest between managers and shareholders.
Managers are considered as committed to business, responsible, working towards accomplishment of mission and vision of organization.
They are the one who brings out collectivism in organization and align everyone’s objective for the growth of business.
Focuses on recognizing various groups in organization and empowers them with motivation and delegation of work.
Balances all stakeholders and add significant value to organization reputation.
There exist a strong relationship between managers and success of the company.
Stewards tries to maximize shareholders wealth by constantly increasing profitability and efficiency of business.
More control and restrictions over managers may lower their motivation and hence turn them out unproductive since they take most of the strategic decisions for growth of business in long run.
Thank you for Watching
Subscribe to DevTech Finance
Organizational Culture & Environments
Organizational culture and environment are important concepts for managers to understand. Organizational culture refers to the shared attitudes, values, behavioral norms and expectations of organizational members. It provides members with a sense of identity and influences managerial decisions around planning, organizing, leading and controlling. A strong culture with widely held values improves employee commitment and performance. The external environment also influences managers and includes forces outside the organization like competitors, customers and economic conditions. Understanding both culture and environment is key for managers to effectively lead their organizations.
Corporate governance
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Business overview
A business is an organized effort by individuals to produce and sell goods or services for profit in order to satisfy society's needs. To be successful, a business must be organized, satisfy needs, and earn a profit by performing activities like production, marketing, and sales. There are different types of business organizations classified by size, ownership, and the industries they operate in such as commerce, industry, and services.
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Organizing as a Process
1. Organizing as a process considers several factors including ensuring the organizational structure reflects objectives, plans, and authority given to management.
2. The organizational structure should also reflect the external environment and consider people's limitations, customs, and traditions when grouping activities and assigning authority.
3. Proper organization is the backbone of a successful enterprise and the solid foundation upon which the entire business is built.
Corporate goverance(1)
This document discusses and defines the concept of corporate governance. It provides definitions from various sources and discusses the importance and significance of corporate governance. Some key points:
1. Corporate governance involves balancing the interests of a company's many stakeholders through systems of rules, practices and processes.
2. It became a pressing issue following accounting scandals to restore confidence in markets.
3. Good corporate governance practices include discipline, transparency, accountability, responsibility and fairness.
Corporate Governance
Corporate governance involves the procedures used by stakeholders like shareholders to oversee management's risk and control processes. The principles aim to improve frameworks for stock exchanges, corporations, and investors through concise and understandable codes. There are five key principles: protecting shareholder rights; equitable treatment of shareholders; considering stakeholder roles; ensuring timely disclosure of financial and operational information; and defining the strategic guidance and oversight responsibilities of the board. Corporate governance also exhibits seven characteristics: discipline, transparency, independence, accountability, responsibility, fairness, and social responsibility.
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MANAGEMENT AND ADMINSTRATION
The document summarizes various management theories and perspectives including:
- Classical perspectives like scientific management and bureaucratic organizations.
- Henri Fayol's 14 principles of management and identification of the 6 functions of management.
- The humanistic perspective including the human relations movement and its emphasis on non-financial factors.
- The quantitative perspective using tools like operations research, operations management, and information technology.
- McKinsey's 7-S framework and Peter Drucker's contributions emphasizing management's role in making work productive and managing social impacts.
Agency & stewardship, A. Ghazinoori, Lecture 4, Advanced Theory in Organizati...
This document discusses four main streams of research on organizations: why firms exist, agency theory, strategic management theory, and cooperative organizational economics. It focuses on explaining agency theory and stewardship theory. Agency theory argues managers may act in their own self-interest rather than shareholders, while stewardship theory proposes managers act as stewards aligned with organizational objectives. The document compares the key assumptions and perspectives of agency theory versus stewardship theory on issues like human motivation, governance structures, and risk orientation.
Administration Vs. Management
Administration involves setting policies, objectives, and plans for an organization, while management focuses on implementing those plans and coordinating organizational activities. Practically, managers perform both administrative and management functions, with higher-level managers spending more time on administration and lower-level managers focusing more on operational management. Public administration differs from private administration in that it operates within a legal and political framework, aims to serve public needs rather than profit, and is accountable to the public. It also typically involves larger-scale operations and provides essential services.
Impact of corporate governance on firm performance published
In the light of corporate financial scandals, there is an increasing attention on corporate governance issues. The investors look for emerging economies to diversify their investment portfolios to exhaust the possibilities of returns. This paper examines the impact of corporate governance variables on firms’ performance. This Research found that there is a direct positive relationship between profitability measured either by Earnings per share (EPS) or Return on assets (ROA) and corporate governance, also have a positive direct relationship between each of liquidity, dividend per share, and the size of the company with corporate governance, finally the study found a positive direct relationship between corporate governance and corporate performance. Various studies have been conducted in developing countries including Pakistan to investigate the relationship among corporate governance and firm performance. This study indicates that corporate governance can be measured through the following elements.
(1) board size (2) Female Member (3) CEO duality (4) Education of Directors (5) Board working experience(6) independent directors (7) board compensation (8) Board ownership (9) Audit committee (10) Board composition(11)Leadership Structure
Commerce-Strategic Management And Corporate Governance
Strategic choice refers to selecting grand strategies that best meet organizational objectives, considering selection factors and the environment. It provides direction, frameworks for decision-making, and enhances communication. Factors influencing strategic choice include the environment, resources, values, past strategies, and information availability. The strategic choice process involves focusing on alternatives through gap analysis, evaluating expansion, stability, retrenchment, and combination strategies, and choosing strategies that do not conflict and are properly evaluated. Implementation then manages executing the strategic plan through projects, procedures, resource allocation, structure, functions, and behaviors. Approaches to strategy formulation include intuitive, incremental, gap analysis, and portfolio-based methods.
Creating a High-Quality Board of Directors
A strong board of directors is the cornerstone of many companies and is the group charged with the oversight of the corporation on behalf of the shareholders.
agency theory
Agency theory explains corporate governance through the relationship between principals (shareholders) and agents (managers). It is based on the separation of ownership and control in companies. The key aspects of agency theory are the agency problem that arises due to differing objectives between principals and agents, agency costs incurred by principals to monitor agents, and mechanisms like incentive compensation that aim to align goals and reduce agency costs.
039 agency vs stewardship theory
This document summarizes a study that tested competing theories about CEO governance structures - agency theory and stewardship theory. Agency theory predicts that separating the roles of CEO and board chair leads to higher shareholder returns, while stewardship theory predicts the opposite. The study compared shareholder returns for companies that had the same person as CEO and board chair versus companies that separated the roles, while controlling for industry and size. The results did not support agency theory and provided some support for stewardship theory.
'How Women Directors Can Contribute to Excellence in Corporate Governance'
The document discusses corporate governance and the role of women on company boards. It defines corporate governance and outlines its key pillars. It discusses how gender diversity, particularly having women on boards, leads to better company performance and decision making. It provides perspectives on how women directors can positively impact board dynamics, governance, and stakeholder relationships through qualities like inclusion, social awareness, and risk aversion. Statistics on women directors globally and in India are also presented. The document advocates expanding the pipeline of women directors through various measures.
PRESENTATION IN THE WORKSHOP "STEWARDSHIP", Rome (Italy), 17-04-14
This document discusses stewardship theory as it relates to the relationship between principals and managers. It defines stewardship as responsible management of resources. Stewardship theory proposes that managers act as stewards, aligning their interests with the organization by maximizing performance. When managers exhibit pro-organizational behaviors motivated by growth and achievement rather than self-interest, empowering governance structures are appropriate as stewards can be trusted. Situational factors like an involvement-oriented philosophy and collectivist culture also influence principal-steward relationships characterized by trust rather than strict control.
Governance Of Microfinance Institutions
Ed Jiminez from the Bangko Sentral ng Pilipinas speaks about the role Governance plays in Microfinance Institutions (Jan 29, PACAP Community Development Forum: Microfinance Amidst the Global Financial Crisis.
The effects of corporate governance on firm performance
This study examines the effects of corporate governance on firm performance in Taiwanese firms from 2001 to 2008. Several corporate governance mechanisms are analyzed in relation to three measures of firm performance: return on assets, stock return, and Tobin's Q. The results show that board independence and insider ownership positively impact firm performance, while large board size, CEO duality, high stock pledge ratios, and large deviations between voting and cash flow rights negatively impact firm performance. The findings imply that strengthening board independence and insider ownership can improve firm performance, whereas reducing board size, separating CEO and board chair roles, lowering stock pledges, and aligning voting and cash flow rights can also positively impact firm performance.
Stewardship theory
Youtube Video Link -
https://youtu.be/dx28fuD_D4w
Stewardship Theory, developed by Donaldson and Davis focuses on understanding the existing relationships between ownership and management of the company.
Under Stewardship theory managers are considered as Stewards which means someone who is responsible to protect and act in the best interest of shareholders.
It is opposite to agency theory which mentions the conflict of interest between managers and shareholders.
Managers are considered as committed to business, responsible, working towards accomplishment of mission and vision of organization.
They are the one who brings out collectivism in organization and align everyone’s objective for the growth of business.
Focuses on recognizing various groups in organization and empowers them with motivation and delegation of work.
Balances all stakeholders and add significant value to organization reputation.
There exist a strong relationship between managers and success of the company.
Stewards tries to maximize shareholders wealth by constantly increasing profitability and efficiency of business.
More control and restrictions over managers may lower their motivation and hence turn them out unproductive since they take most of the strategic decisions for growth of business in long run.
Thank you for Watching
Subscribe to DevTech Finance
Organizational Culture & Environments
Organizational culture and environment are important concepts for managers to understand. Organizational culture refers to the shared attitudes, values, behavioral norms and expectations of organizational members. It provides members with a sense of identity and influences managerial decisions around planning, organizing, leading and controlling. A strong culture with widely held values improves employee commitment and performance. The external environment also influences managers and includes forces outside the organization like competitors, customers and economic conditions. Understanding both culture and environment is key for managers to effectively lead their organizations.
Corporate governance
This document discusses corporate governance and its role in monitoring and controlling strategic decisions made by managers. It defines key concepts like agency theory, separation of ownership and control, and different internal and external governance mechanisms used to align manager and shareholder interests like boards of directors, executive compensation, and market for corporate control. The document also examines governance practices in different countries and how governance can foster ethical strategic decision making.
Difference between management and adminstration
The document compares the basis of difference between administration and management. Administration is a top-level activity that determines objectives and policies for an entire organization through planning and organizing. Management is a middle-level activity that executes the plans and policies of administration through motivating and controlling functions using specialized technical knowledge.
Business overview
A business is an organized effort by individuals to produce and sell goods or services for profit in order to satisfy society's needs. To be successful, a business must be organized, satisfy needs, and earn a profit by performing activities like production, marketing, and sales. There are different types of business organizations classified by size, ownership, and the industries they operate in such as commerce, industry, and services.
The Corporation And Internal stakeholders
This document discusses organizational culture and internal stakeholders. It begins by outlining how value-based stakeholder management assessments can help implement ethics training programs more effectively. It then defines organizational culture as shared values and meanings held in common and transmitted through leadership, heroes, rituals, and communication. Strong corporate cultures have widely shared philosophies that value people, have symbolic heroes, and celebrate caring rituals. The document also discusses observing culture, leading strategy and structure, and balancing competing internal stakeholder values to ensure integrity and market effectiveness.
Organizing as a Process
1. Organizing as a process considers several factors including ensuring the organizational structure reflects objectives, plans, and authority given to management.
2. The organizational structure should also reflect the external environment and consider people's limitations, customs, and traditions when grouping activities and assigning authority.
3. Proper organization is the backbone of a successful enterprise and the solid foundation upon which the entire business is built.
Corporate goverance(1)
This document discusses and defines the concept of corporate governance. It provides definitions from various sources and discusses the importance and significance of corporate governance. Some key points:
1. Corporate governance involves balancing the interests of a company's many stakeholders through systems of rules, practices and processes.
2. It became a pressing issue following accounting scandals to restore confidence in markets.
3. Good corporate governance practices include discipline, transparency, accountability, responsibility and fairness.
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Corporate governance
- 2. Corporate governance is the process and structure used to direct and manage the business and affairs of the company towards enhancing business prosperity and corporate accountability with the ultimate objective of realizing long-term shareholder value, whilst taking into account the interest of other stakeholders.
- 3. Corporate Governance refers to the manner in which the power of a corporation is exercised in the stewardship of the corporation’s total portfolio of assets and resources with the objective of maintaining and increasing shareholder value and satisfaction of other stakeholders in the context of its corporate mission. It is concerned with creating a balance between economic and social goals and between individual and communal goals while encouraging efficient use of resources, accountability in the use of power and stewardship and as far as possible to align the interests of individuals, corporations and society.
- 4. “Good governance is not simply about corporate excellence. It is the key to economic and social transformation. The corporation of today are no longer sheer economic entities. These are the engines of economic and social transformation.” -Dr Madhav Mehra, President of World Council For Corporate Governance
- 5. THE IMPORTANCE OF GOOD GOVERNANCE If a country does not have a reputation for strong corporate governance practices, capital will flow elsewhere. If investors are not confident with the level of disclosure, capital will flow elsewhere. If a country opts for lax accounting and reporting standards, capital will flow elsewhere. All enterprises in that country – regardless of how steadfast a particular company’s practices may be – suffer the consequences.
- 6. Effective corporate governance requires a clear understanding of the respective roles of the board and of senior management and their relationships with others in the corporate structure. The relationships of the board and management with stockholders should be characterized by candor; their relationships with employees should be characterized by fairness; their relationships with the communities in which they operate should be characterized by good citizenship; and their relationships with government should be characterized by a commitment to compliance.
- 7. CORPORATE GOVERNANCE CORPORATE MANAGEMENT External Focus Internal Focus Governance assumes an open system Management assumes a closed system Strategy-orientated Task-orientated Concerned with where the company is going Concerned with getting the company there
- 8. The end