scholarly journals Analysis of the compliance of Brazilian firms with good corporate governance practices

2019 ◽  
Vol 11 (2) ◽  
Author(s):  
Vicente Lima Crisóstomo ◽  
Aline Maria Coelho Girão
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Audit Committee ◽  
Cost Benefit ◽  
Additional Contribution ◽  
Publicly Traded Companies ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
Cost Benefit Ratio ◽  
The Difference

Purpose: Studies report that the adoption of good corporate governance practices tends to improve firm value. However, the results of such adoption seem to be conditioned by specific institutional and legal characteristics of each country. This study aims to analyze compliance with good corporate governance practices in the context of publicly traded companies in the Brazilian market. Methodology: The sample is made up of 1336 annual observations of 167 companies listed on the B3 (Brasil, Bolsa, Balcão) in the period 2010-2017. The practices recommended by the main corporate governance codes in Brazil were used as benchmark. Tests for the difference in means (t-test) and in proportions (z-test) were used to compare the observed situation in the group of firms and the recommendations in the Brazilian market. Results: Despite the adoption of many of the best practices recommended, there is still space for advancement in the Brazilian firm corporate governance. The results indicate noncompliance of the Brazilian firm with the recommendations regarding the audit committee and fiscal council, which may particularly weaken transparency and control of firm’s internal activities. In addition, adherence to distinguished market segments is associated to a greater trend to observe the suggestions emanating from the codes, which may be due to the perception of a favorable cost-benefit ratio of the adoption of corporate governance practices. Contributions of the Study: The work provides additional contribution by presenting a detailed analysis of the current scenario of the Brazilian firm corporate governance captured from the evaluation of the degree of adoption of each practice recommended individually.

scholarly journals PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP EARNINGS MANAGEMENT

2019 ◽  
Vol 8 (1) ◽  
pp. 35
Author(s):  
Hexana Lastanti
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Audit Committee ◽  
Financial Statements ◽  
Managerial Ownership ◽  
Management Problem ◽  
Good Corporate Governance ◽  
The Difference

<p class="Style2">To be able to achieve good corporate governance, in addition to managerial ownership, institutional ownership and board of directors, the role of the audit committee also needed to further enhance the quality of information contained in the financial statements in accordance with his duties. Good corporate governance is one way to address the practice of earnings management. Study to examine the effect of the mechanisms of good corporate governance on earnings management that uses the data in the Indonesian capital market, still very little is done. Earnings management is a management action in the process of preparing financial statements to influence the level of profit that is displayed. The goal is to improve the welfare of certain parties, which can be identified as an advantage. Earnings management problem is the agency problem that is often triggered by a separation of the role or the difference between the interests of the owners (shareholders) with managing the company's management.</p>

scholarly journals PENGARUH PROFITABILITAS DAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 1 (2) ◽  
pp. 158-173
Author(s):  
Rama Andi Wiguna ◽  
Muhammad Yusuf
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Audit Committee ◽  
Sampling Method ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Good Corporate Governance ◽  
Positive Effect

This research aimed to get empirical evidence about the effect of profitability and good corporate governance as proxied by the proportion of independent board commissioners, number of board commissioners meetings, proportion of audit committee, number of audit committee meetings, managerial ownersip and institutional ownership. The population of this research was companies listed on the Indonesia Stock Exchange in 2016-2017. The sample of this research was fixed by purposive sampling method so that was found 88 samples. Technique of data analysis was multiple linear regression. The result of research showed that profibility, the proportion of independent board commissioners, proporsion of audit committee, managerial ownership and institutional ownership had significant positive effect on firm value, while commissioners meetings and audit committee meetings had no effect on firm value

scholarly journals A Study on Corporate Governance Disclosures in Selected Housing Finance Companies in India

2021 ◽  
Author(s):  
Suguna Margana ◽  
Sheela.p. Paluri
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Housing Finance ◽  
Annual Reports ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
Governance Challenges ◽  
Effective Level ◽  
Degree Of Association ◽  
Clause 49

Abstract Every company across the globe today focuses on basic principles of good corporate governance for performing efficiently and to enhance their valuation in the market. A good corporate can generate the source of attracting capital, foreign investment, investors’ trust, confidence, and also take advantage of the vibrant stock market. Corporate governance is a code of business conduct and ethics that would greatly benefit the companies to thrive and prosper. The outcome of the literature review was that even though the disclosures are made mandatory, there is a large variation in the quality of corporate governance disclosure practices adopted by companies listed in different countries. Empirical research done earlier has also proved that good corporate governance practices being followed enhances the firm value. Housing finance companies face unique corporate governance challenges due to myriad reasons like ownership structures, lack of transparency, and insufficient checks on inappropriate activities. Despite the ‘corporate governance revolution’, there exists no universal benchmark for the effective level of disclosure and transparency. Corporate governance practices followed in business firms are communicated through the corporate governance section of annual reports. clause 49 of the listing agreement sets a detailed corporate governance provision to be followed by listed companies in India. This study aimed at evaluating the governance practices in Housing Finance Companies against disclosure requirements of clause 49. Housing Finance companies that are listed in the NSE are taken into consideration as the sample for the study. Kendall’s coefficient of concordance is used for determining the degree of association among several (k) sets of ranking of N objects or individuals.

scholarly journals Review of Corporate Governance Practices and Financial Distress Prediction

2018 ◽  
Vol 7 (4.28) ◽  
pp. 30
Author(s):  
Syed Muhammad Hassan Gillani Ahmad ◽  
Suresh Ramakrishnan ◽  
Hamad Raza ◽  
Humara Ahmad
Keyword(s):  
Corporate Governance ◽  
Financial Distress ◽  
Firm Value ◽  
Agency Cost ◽  
Review Of Literature ◽  
Firm Level ◽  
Country Level ◽  
Financial Distress Prediction ◽  
Good Corporate Governance ◽  
Governance Practices

Good corporate governance practices play an import role in increasing the firm value. Based on the agency theory related to corporate governance, if an agent (management) does not protect interest of principal (shareholders) then, agency cost is occurred and this creates a bad impact on the corporate performance. Therefore, it is necessary to address weak corporate governance practices in early stages otherwise firms can go in financial distress and eventually become bankrupt. The objective of this current study is to conduct a nonsystematic review of literature on theories and models related to corporate governance and financial distress. In the light of thorough review of literature, it is found that corporate governance variables (i.e. ownership concentration, board size, board composition, CEO duality, level of independence of board from management and managerial ownership) are good predictors for predicting financial distress. Moreover, it is also found that these corporate governance variables were not only used separately for predicting financial distress but also used along with others variables (firm level and country level) for the purpose of enhancing quality of financial distress models.

scholarly journals PENGARUH PENGUNGKAPAN CSR DAN TATA KELOLA PERUSAHAAN TERHADAP NILAI PERUSAHAAN SEKTOR INDUSTRI SUB SEKTOR TEKSTIL DAN GARMEN

2021 ◽  
Vol 15 (1) ◽  
pp. 42-70
Author(s):  
Farah Latifah Nurfauziah ◽  
Citra Kharisma Utami
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Audit Committee ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Corporate Social Responsibility Disclosure ◽  
Good Corporate Governance ◽  
Corporate Social

The purpose of this study was to determine the effect of Corporate Social Responsibility Disclosure and Good Corporate Governance on Firm Value in Various Industries Sector, Textile and Garment Sub-Sector Listed on the Indonesia Stock Exchange 2014-2019 Period. This research method uses a descriptive method with a quantitative approach. The source of this research uses secondary data sourced from the annual report of various sector companies in the textile and garment sub-sector listed on the Indonesia Stock Exchange. The sample of this study were 9 companies using purposive sampling technique. The results of this study indicate that partially the Corporate Social Responsibility Disclosure has a significant effect on Firm Value. Meanwhile, Good Corporate Governance with indicators (Managerial Ownership, Institutional Ownership, Independent Ownership and Audit Committee) Managerial Ownership and Audit Committee have a significant effect on Firm Value, while Institutinal Ownership and Independent Comissioner don’t have a significant effect on Firm Value.

scholarly journals PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN IMPLEMENTASI CSR SEBAGAI VARIABEL PEMODERASI

IQTISHODUNA ◽  
2016 ◽  
Vol 10 (1) ◽  
pp. 1-7
Author(s):  
Misbahul Munir ◽  
Eka Sevia Suryandari ◽  
Anik Mahmudah
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Audit Committee ◽  
Stock Exchange ◽  
Analytical Models ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Good Corporate Governance ◽  
Normality Test ◽  
Corporate Social

Corporate Governance is a system that regulates and controls the company that is expected toprovide and enhance the company’s value to its shareholders. This study aims to determine the effect of theimplementation of good corporate governance (GCG) to the value of state-owned banks companies listings inIndonesia stock exchange (IDX) with the implementation of corporate social responsibility (CSR) as a moderatingvariable. This research is a quantitative, analytical models using classical assumption test consists of a testheterokedastisitas, non-autocorrelation test and normality test, followed by analysis using regression analysismoderation. The results showed that, application of good corporate governance is proxied by ManagerialOwnership (X1), Proportion of Independent Commissioner (X2), Audit Committee (X3), Independence of theAudit Committee (X4), Frequency of Audit Committee Meetings (X5) and the frequency of Board Meeting(X5) simultaneously significant effect on firm value (Tobin’s Q). With the results of R Square of 61.1% meansthat the variable Tobin’s Q (Y) in the six variables explained by the moderating variable of Corporate SocialResponsibility (Z). While the remaining 38.9% is explained by other variables or independent variables outsidethe regression equation.

scholarly journals PENGARUH GOOD CORPORATE GOVERNANCE, DAN KARAKTERISTIK PERUSAHAAN TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 20 (1) ◽  
pp. 21-32
Author(s):  
DWI PUTRI KARTIKA SARI ◽  
RIKI SANJAYA
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Audit Committee ◽  
Sampling Method ◽  
Financial Statement ◽  
Managerial Ownership ◽  
Return On Equity ◽  
Good Corporate Governance ◽  
Financial Firm ◽  
Analyze Data

The objective of this research to investigate the influence of good corporate governance and firm’s characteristic on firm value as a firm’s strategy to upgrade their value. This study use financial statement from non financial firm in Bursa Efek Indonesia for three years, start from 2014 – 2016. This study using purposive sampling method for determine a sample is required and using multiple regression and statistic descriptive for analyze data. The result of this study is four of eight variable independen influence on firm value. Independent commissioner, size of commissioner, Return on Equity, and Leverage as a component of good corporate governance influence firm value. But another good corporate governance’s component like managerial ownership, institusional ownership, audit committee, and component of firm’s characteristic there is firm size don’t effect firm value.

scholarly journals PENGARUH CORPORATE SOCIAL RESPONSIBILITY DAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN (STUDI PADA SEKTOR PERTAMBANGAN DI BURSA EFEK INDONESIA)

KEBERLANJUTAN ◽  
2017 ◽  
Vol 2 (1) ◽  
pp. 498
Author(s):  
Budi - Setyawan
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Audit Committee ◽  
Audit Committees ◽  
Coefficient Of Determination ◽  
Corporate Value ◽  
Good Corporate Governance ◽  
Corporate Social

Abstract This study aims to analyze the influence of Corporate Social Responsibility and Good Corporate Governance (independent commissioner, number of directors and number of audit committees) on the value of the company in the mining issuer in Indonesia Stock Exchange. Research samples of 20 companies and years of research that is 2011 - 2015. The data collected is processed by simple and multiple regression. The result of research shows that there is no influence of Corporate Social Responsibility to Corporate Value. The effect of independent commissioners on corporate value is insignificant. The effect of the number of directors on firm value is significant. The influence of audit committees on corporate value is not significant. Simultaneously CSR, independent commissioner, number of directors and number of audit committee have an effect on signifikan to Company Value. The magnitude of Corporate Social Responsibility and Good Corporate Governance (Independent Commissioner, Number of Directors and Audit Committee) to the dependent variable of Corporate Value has a coefficient of determination of 0.049 indicating that the contribution of Corporate Social Responsibility and Good Corporate Governance of Independent Commissioners, Number of Directors, and Audit Committee) together against Corporate Value is 4.9%, the rest is caused by other factors. Keywords :  Corporate Social Responsibility, Good Corporate Governance, Corporate Value

scholarly journals STATE-OWNED RURAL BANK PERFORMANCE: DO GOVERNMENT OWNERSHIP AND CORPORATE GOVERNANCE UNIQUENESS MATTER?

2016 ◽  
Vol 13 (2) ◽  
pp. 109
Author(s):  
Azilsyah Noerdin
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Ownership Structure ◽  
Important Implication ◽  
Bank Performance ◽  
Government Ownership ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
The Difference ◽  
Privately Owned

It has been widely recognized that ownership structure has an impact on firm performance. This paper examines whether rural banks owned by government have poorer performance than those owned by private parties with the emphasis on corporate governance uniqueness of state-owned rural banks. 42 rural banks in Indonesia has been selected as the sample. MANOVA test is used to investigate the difference performance between the two types of the rural banks. The results show that state-owned rural banks perform poorer than their privately-owned counterparts. It is indicated by lower ROA ratio and higher OEOI and NPL ratios. The important implication of this finding suggets that government ownership impede boards of rural banks to implement good corporate governance practices in order to improve their banks performance.

scholarly journals Pengaruh Profitabilitas, Struktur Modal, Ukuran Perusahaan, Dan Good Corporate Governance terhadap Nilai Perusahaan

2021 ◽  
Vol 5 (1) ◽  
pp. 37
Author(s):  
Widya Kusuma Wardhani ◽  
Kartika Hendra Titisari ◽  
Suhendro Suhendro
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Consumer Goods ◽  
Firm Value ◽  
Audit Committee ◽  
Linear Regression Analysis ◽  
Company Size ◽  
Good Corporate Governance ◽  
Consumer Goods Industry ◽  
The Impact

This research aims to know and analyze the impact of profitability, capital structure, company size and good corporate governance on firm value. The dependent variable in this research is firm value. While the independent variables used in this research are profitability, capital structure, company size, board of commissioners and audit committee. The population of this research is the entire consumer goods industry sector company listed on the Indonesia Stock Exchange period in 2015-2019. The sample selection in this research using purposive sampling method with certain criteria thus obtained a sample of 20 consumer goods industry companies listed on the IDX period in 2015-2019. The data used is secondary data sourced from annual report. The data analysis technique used double linear regression analysis. The results showed that profitability and company size affect the value of the company. Meanwhile, capital structure, board of commissioners and audit committee do not affect the company’s value in consumer goods industry company period from 2015-2019. 

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