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Full-Text Articles in Business
Corporate Governance As A Repeated Game Prisoners' Dilemma - And The Push To The Defect-Defect Cell, Peter Cebon
Corporate Governance As A Repeated Game Prisoners' Dilemma - And The Push To The Defect-Defect Cell, Peter Cebon
Peter Cebon
Governance of strategic risk can be understood as a repeated-game prisoners’ dilemma. In the cooperate-cooperate cell, boards and managers work together in a trusting, highly communicative relationship to make sense of the environment and to create and enact a strategy. In the defect-defect cell, the board distrusts the CEO and is concerned with monitoring and incentive alignment. Organisations with a focused strategy built on innovation-like actions benefit from being in the cooperate-cooperate cell. However, various internal and institutional forces push organisations, and particularly listed corporations, to the defect-defect cell.
Innate And Discretionary Accruals Quality And Corporate Governance, Pamela Kent, James Routledge, Jenny Stewart
Innate And Discretionary Accruals Quality And Corporate Governance, Pamela Kent, James Routledge, Jenny Stewart
Pamela Kent
This paper extends previous research on the association between corporate governance mechanisms and accruals quality. We derive measures of the discretionary and innate components of accruals quality and regress them against corporate governance characteristics. For discretionary accruals, we find use of a Big 4 audit firm and a larger audit committee as the primary governance mechanisms associated with higher accruals quality. For innate accruals quality, we find that higher quality is associated with an independent board of directors, a larger, more independent and more active audit committee, and use of a Big 4 audit firm. Our findings suggest a stronger …
Corporate Governance And Company Performance In Australia, Jacqueline Christensen, Pamela Kent, Jenny Steward
Corporate Governance And Company Performance In Australia, Jacqueline Christensen, Pamela Kent, Jenny Steward
Pamela Kent
This study tests whether the adoption of Australian best practice corporate governance recommendations have a positive or negative relation with financial performance measured by return on assets (ROA) and Tobin's Q. The governance mechanisms associated with increased ROA and Tobin's Q are the existence of an audit, nomination and remuneration committee in Australia suggesting they are particularly beneficial to companies. We found evidence that a significant negative relation exits between the number of directors and proportion of independent directors on the board and the presence of a dual CEO/Chairperson and ROA. There is a significant positive relation between the number …
Application Of Stakeholder Theory To Corporate Environmental Disclosures, Pamela Kent, Christopher Chan
Application Of Stakeholder Theory To Corporate Environmental Disclosures, Pamela Kent, Christopher Chan
Pamela Kent
Ullmann's (1985) three-dimensional model of social responsibility disclosure is tested to determine whether it can be operationalized to help explain the quantity and quality of environmental disclosures in Australian annual reports. The stakeholder power dimension of Ullmann's framework is significant in explaining environmental disclosures while content of the mission statement and existence or otherwise of environmental or social responsibility committees also find strong statistically significant support in the results. Ullmann's stakeholder theory has previously been applied to explain social disclosures in general (Roberts, 1992) and is an important theory because it introduces a measure of strategy. The current paper demonstrates …
Founding Family Leadership And Industry Profitability, Trond Randoy, Clay Dibrell, Justin Craig
Founding Family Leadership And Industry Profitability, Trond Randoy, Clay Dibrell, Justin Craig
Justin B. Craig
In this article, we argue that firms in high-margin industries can benefit from founding family influence. Specifically, in more profitable markets, the influence of the founding family provides an additional corporate governance-monitoring function. The sample consists of 294 firm-year observations from 98 publicly traded companies headquartered in Sweden, representing approximately half of all nonfinancial traded firms. Our support that the effect of family leadership in publicly held firms should be assessed in relation to the intensity of industry competition.