scholarly journals Institutional Coherence and the Evolution of Corporate Governance in Poland

2021 ◽  
Vol 5 ◽  
pp. 143-157
Author(s):  
Magdalena Owczarczuk ◽  
◽  
Anna Wierzbicka ◽  
Keyword(s):  
Corporate Governance ◽  
Research Methodology ◽  
Good Practice ◽  
Informal Institutions ◽  
Cultural Norms ◽  
Review Of The Literature ◽  
Value Analysis ◽  
Formal And Informal Institutions ◽  
Development And Evolution

Goal – the purpose of the article is to present the significance and role of institutional coherence in the development and evolution of corporate governance in Poland. Research methodology – a review of the literature on examining the specificity of knowledge about the role of institutional coherence in the development and evolution of corporate governance in Poland and analysis and assessment of the changes in good practice codes in Poland. Score/results – a systemic approach to the issue of corporate governance reveals that it is a collection of both formal and informal institutions. Through mutual interac tion, corporate governance rules lead to the emergence of a relatively stable and predictable environment in which enterprises and their stakeholders can operate. Originality/value – analysis of good practice codes in Poland reveals that the process of their adjustment to the current social and cultural norms, as well as to the expectations of the market, can be positively evaluated, as evidenced by the fact that their new editions continue to be published. The provisions which appear in good practice codes year by year adequately reflect the needs and expectations of the market.

scholarly journals The Impact of Interplay Between Formal and Informal Institutions on Corporate Governance Systems: a Comparative Study of CEECs

2018 ◽  
Vol 21 (4) ◽  
pp. 85-104
Author(s):  
Małgorzata Godlewska ◽  
Tomasz Pilewicz
Keyword(s):  
Corporate Governance ◽  
Deductive Reasoning ◽  
Case Study Research ◽  
Individual Case ◽  
Informal Institutions ◽  
Comparative Case Study ◽  
Governance Systems ◽  
Formal And Informal Institutions ◽  
The Impact

The central point of this paper is to present the results of comparative case study research concerning the impact of the interplay between formal and informal institutions in the corporate governance systems (CGS) of Central and Eastern European Countries (CEEC). Particular focus was put on the values of the corporate governance codes (CGC) of CEECs, as well as on transparent ownership structures, transactions with related parties, the protection of minority shareholders, independent members of supervisory boards, and separation between the CEO position and the chairman of the board of directors. The main subject of interest concerns two research areas: the character of the relationship between formal and informal institutions, as well as whether the interplay between them is relevant to the CGSs of CEECs. Moreover, the author investigates whether the CGCs of CEECs consist of regulations that are compatible with the values set up in preambles using research methods such as individual case study or deductive reasoning. The conclusion presented in the paper was drawn on the basis of a review of the literature and research on national and European corporate governance regulations, as well as the CGC of CEECs. The primary contribution this article makes is to advance the stream of research beyond any single country setting, and to link the literature on the interplay between formal and informal institutions related to CGSs in a broad range of economies in transition (‘catch up’ countries) like CEECs. This paper provides an understanding of how the interplay between formal and informal institutions may influence the CGCs of CEECs.

Il pensiero di Kenneth Boulding, economista irenico. Relazioni sociali tra scambio, dono e coercizione

2009 ◽  
pp. 5-30
Author(s):  
Raul Caruso
Keyword(s):  
Social Capital ◽  
Economic Development ◽  
Social Interactions ◽  
Informal Institutions ◽  
Relational Goods ◽  
Economic Theories ◽  
Economic Development And Growth ◽  
Formal And Informal Institutions

- The aim of this essay is the ‘triangular theory of social interactions as expounded by Kenneth Boulding. Rediscovering the theoretical reflections of Kenneth Boulding about social interactions is even more important nowadays when economists are emphasizing the role of both formal and informal institutions in economic development and growth. In fact, he pioneered the study of elements which are commonly considered in the economic theories of institutions, social capital, reciprocity and relational goods.

scholarly journals Duality of roles and corporate governance in Greece

2009 ◽  
Vol 5 (1) ◽  
pp. 15-21 ◽  
Author(s):  
Themistokles Lazarides
Keyword(s):  
Corporate Governance ◽  
Good Practice ◽  
Balance Of Power ◽  
Ownership Concentration ◽  
Probit Regression ◽  
Power And Control ◽  
Organizational Stability ◽  
The Board Of Directors ◽  
And Control

Duality of the role of President of the Board of Directors (BoD) and CEO has been regarded as a good practice of corporate governance. These two roles are the ones with the most power an authority within the corporation. The paper depicts the formulating factors of duality of roles in Greece. Literature has linked duality with performance, organizational stability, ownership concentration and balance of power and control within the firm. The paper, using a Probit regression analysis, examines whether these relationships are valid in Greece. Statistical – econometric analysis has shown that financial performance is not related with concentration of power and control. The same conclusion is can be drawn for ownership concentration. There is a trend of change but this trend hasn’t the same dynamic or driving factors as the ones that are reported by Kirkbride and Letza (2002) and Muth and Donaldson (1998). The hypothesis posed by Heracleous (2001) and Baliga, 6oyer and Rao (1996) are more likely to be true in the case of Greece. Overall, duality in Greece is affected by the historical development of the firm, its organizational scheme and even more by the balance of power and control within the firm.

scholarly journals Informal Institutions in the Corporate Governance System in Russia

2016 ◽  
Vol 19 (4) ◽  
Author(s):  
Monika Fiedorczuk
Keyword(s):  
Corporate Governance ◽  
Dominant Role ◽  
Informal Institutions ◽  
Point Of View ◽  
Minority Shareholders ◽  
Governance System ◽  
Market Mechanisms ◽  
Role Of The State ◽  
Corporate Governance System

The corporate governance system in Russia, having evolved through years, can be characterized by the following features: the dominant role of the concentrated ownership structure, corporate supervision relying on a combination of ownership function and company management, the significant role of the state as the owner, and the fairly marginal relevance of external market mechanisms. Those features result partly from particular legal solutions and partly from the unwritten, informal customs or patterns of behaviour of the so-called informal institutions.The article’s main thrust is to analyse selected informal institutions which were considered the most significant from the Russian corporate governance system point of view. These are, among others: the tendency not to obey the rights of minority shareholders, informal relationships of enterprises with authorities of various levels, and corruption. The author assumes that informal institutions decide upon the specificity of the corporate governance system in Russia and its particular elements, and upon the efficient functioning of supervisory mechanisms.

scholarly journals PERANAN AUDITOR INTERNAL DALAM UPAYA PENDETEKSIAN DAN PENCEGAHAN FRAUD TERHADAP PELAKSANAAN GOOD CORPORATE GOVERNANCE

2019 ◽  
Vol 10 (2) ◽  
pp. 129
Author(s):  
Devi Anggriani ◽  
Juniati Gunawan
Keyword(s):  
Corporate Governance ◽  
Research Methodology ◽  
Internal Audit ◽  
Internal Auditing ◽  
Is Research ◽  
Good Corporate Governance ◽  
The World ◽  
World Class ◽  
The Creation

<p class="Style1"><em>Internal auditing serves help management in detection and prevention his that happens at an organization in the implementation of the good corporate governance. </em><em>Principies of good corporate governance is an indicator the achievement of the </em><em>balance interests, so the clash interests that occurs could focus and controlled and not result in losses to each party. According to previous studies, fraud led to the collapse of </em><em>the world class companies. This is because inactive of mechanism good corporate </em><em>governance. The </em><em><sup>-</sup></em><em>role of the auditors internal in an effort to detection and prevention </em><em>his has a strong enough. And the role of the auditors internal also has a very important </em><em>in good corporate governance. Methods used in this research is research methodology </em><em>explanatory research with quantitative survei aims to understand the influence of the </em><em>role of the auditors internal (components expertise, the scope of the work, the </em><em>approach) that was undertaken auditor internal in order to detection and prevention </em><em>his with the implementation of the good corporate governance on a 50 respondents is </em><em>the company open a listing on the Bursa Efek Indonesia through the distribution of the questionnaire. The result has been concluded, the expertise, the scope of the work, the </em><em>approach that was undertaken internal audit influential indirectly on the ,corporate governance through the intervening the detect and prevent offraud. For the company </em><em>public, should be channeled to detect cheating through prevention, prevent is the root </em><em>cause problems cheating that the creation of principles of good corporate go</em><em>v</em><em>ernance </em><em>in the company.</em></p>

Institutional outlook of the entrepreneurial climate in Ghana

2015 ◽  
Vol 42 (6) ◽  
pp. 566-582 ◽  
Author(s):  
Samuel Adomako ◽  
Albert Danso ◽  
Ernest Ampadu
Keyword(s):  
Conceptual Framework ◽  
Empirical Studies ◽  
Informal Institutions ◽  
Cultural Factors ◽  
Entrepreneurial Activity ◽  
Major Influence ◽  
Content Type ◽  
Formal And Informal Institutions ◽  
Entrepreneurial Climate

Purpose – Previous scholarly studies on institutions tend to create a sombre picture of institutions by ignoring to examine the antecedents of formal and informal institutions. The purpose of this paper is to overcome this limitation by proposing a conceptual framework of the antecedents of formal and informal institutions of entrepreneurial climate in a less developed market setting. Design/methodology/approach – This study builds on a comprehensive survey of the literature on institutions by using a synthesis thematic methodology to identified key scholarly studies which have been published in previous theoretical and empirical studies and proposes a conceptual framework of the role of formal and informal institutions in defining entrepreneurial climate in a developing economy’s context. Findings – The findings of the paper suggest that political factors and economic factors define formal institutions whilst socio-cultural factors define informal institutions. These factors rooted in political, economic and socio-cultural factors have a major influence on the rate and nature of entrepreneurial activity in a developing country setting. Practical implications – This paper contributes to the literature on entrepreneurship and intuitional theory by focusing on the antecedents of formal and informal institutional factors that shape entrepreneurial climate in Ghana. Originality/value – To the authors’ knowledge, this is the first review that explores the nature of entrepreneurial climate and proposes a conceptual framework of the role of formal and informal institutions in defining entrepreneurial climate in Ghana.

scholarly journals THE INFLUENCE OF INSTITUTIONS ON THE DYNAMICS OF POSTSOCIALIST TRANSFORMATION PROCESSES IN UKRAINE

2021 ◽  
Vol 4 (39) ◽  
pp. 512-520
Author(s):  
E. Moroz
Keyword(s):  
Economic Development ◽  
Informal Institutions ◽  
Jel Classification ◽  
Economic Transformation ◽  
Western Countries ◽  
Property Relations ◽  
Formal And Informal Institutions ◽  
Effective System ◽  
Transformation Processes

Abstract. Attention is paid to the important role of an effective system of institutions to ensure the economic development of Ukraine. It is noted that the formation of this system should be given the attention of scientists, as well as government agencies. The content of economic transformation of postsocialist countries, in particular Ukraine, is studied. The study was conducted using the methodology of comparing the capitalist and socialist systems, as well as the historical approach. The content of categories «property» and «transformation» is considered, as well as the influence of property institutions on the dynamics of transformation processes that took place in postsocialist countries. The interrelation and interdependence between the influence of institutions and the dynamics of the process of postsocialist transformation are determined. Results of the study showed a low level of development of formal institutions in Ukraine, while informal institutions act as a natural brake on further economic development. It is emphasized that the influence of institutions on the dynamics of postsocialist transformation processes is essential and crucial in Ukraine. Based on the institution of ownership, the effects of ownership are considered. Western countries are able to generate capital and maximize the benefits of using property due to their full use. Unlike Western countries, in Ukraine property is considered on the basis of the object, and not through a system of rights that can be used by the owner. The nature of legal and illegal property relations, as well as the preconditions for the transformation of property institutions, are considered in detail. The influence of formal and informal institutions on the dynamics of postsocialist transformation processes in Ukraine is determined. The emergence of intangible property by example of intellectual property, as well as the importance of compliance and implementation of property rights by the legislative system are considered. Conclusions are made about the current situation of the socio-economic system of Ukraine in the context of the transformation of formal and informal institutions. Keywords: institute, property, transformation, capital, entrepreneurship. JEL Classification P31 Formulas: 0; fig.: 0; tabl.: 1; bibl.: 15.

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