Suchergebnisse

PurposeThis study aims to investigate the relationship between national culture and best practices as recommended in country-level corporate governance codes.Design/methodology/approachMeasures for four corporate governance variables – board independence, gender composition, board leadership and meeting frequency – were collected from corporate governance codes for 55 countries. Scores from Hofstede's cultural dimensions – power distance, individualism vs collectivism, masculinity vs femininity and uncertainty avoidance – were gathered for these same countries. Average scores on the cultural dimensions were compared for groups of countries based on each of the corporate governance variables.FindingsData analyses reveal significant relationships between Hofstede's cultural dimensions and the four characteristics of corporate governance examined in this study. Results highlight the importance of understanding cultural influences on board characteristics for companies considering international expansions or partnerships.Originality/valueWhile prior studies have focused on the influence of national culture at the company level, this study examines the relationship at the regulatory level through review of country-level corporate governance codes.

La Corporación Universidad Autónoma de Bucaramanga, en adelante "UNAB" o la "Universidad", es una institución sin ánimo de lucro de carácter privado dedicada al servicio de la educación. Tiene como propósito la formación en el marco de principios democráticos y liberales y propende por el mejoramiento del país. En su calidad de Institución de Educación Superior desarrolla funciones de docencia, investigación y extensión en áreas que incluyen educación técnica, tecnológica, de pregrado y posgrados, así como la investigación científica o tecnológica y la producción, desarrollo y transmisión del conocimiento y la cultura. Para la UNAB el gobierno corporativo, entendido como el conjunto de principios y reglas a través de las cuales se asignan derechos y responsabilidades a los órganos de gobierno y se definen sus marcos de actuación, es un instrumento para mejorar su desempeño misional, y generar valor para sus grupos de interés. El presente Código de Gobierno Corporativo es un documento de carácter autorregulatorio que refleja el compromiso de la UNAB con el fortalecimiento de su modelo de gobierno. El Código describe de manera general los principales elementos del sistema de dirección y control de la Universidad. En este sentido, actúa como articulador de todos los elementos de gobierno corporativo definidos por la Universidad que se desarrollan de manera más detallada en otros documentos internos tales como: los Estatutos, los reglamentos de los órganos de gobierno, y el Código de ética. Este documento está estructurado con base en la Constitución Política, la Ley, los Estatutos de la Corporación y estándares locales e internacionales de gobierno corporativo. ; INTRODUCCIÓN A. MIEMBROS DE LA CORPORACIÓN I.Sobre la Sala General de Miembros II.Deberes y derechos de los miembros de la Sala General II.Previsiones operativas de la Sala General B. CONSEJO DE BENEMÉRITOS C. JUNTA DIRECTIVA I.Deberes y derechos de los miembros de la Junta Directiva II.Sobre el Presidente y los Vicepresidentes de la Junta Directiva III.Sobre el Secretario de la Junta Directiva IV. Sobre las reuniones y operatividad de Junta Directiva V. Sobre la inducción, evaluación y remuneración de la Junta Directiva VI. Sobre los Comités de la Junta Directiva D.ALTA DIRECCIÓN E. ARQUITECTURA DE CONTROL I.Auditoría interna II.Gestión de riesgos III.Revisoría Fiscal F. TRANSPARENCIA Y REVELACIÓN DE INFORMACIÓN G. DISPOSICIONES ÉTICAS I.Disposiciones sobre conflictos de interés II.Disposiciones sobre transacciones entre partes vinculadas III. Línea Ética H.RESOLUCIÓN DE CONTROVERSIAS I.DISPOSICIONES FINALES ; The Autonomous University of Bucaramanga Corporation, hereinafter "UNAB" or the "University", is a private non-profit institution dedicated to the service of education. Its purpose is to train within the framework of democratic and liberal principles and aims for the betterment of the country. As an Institution of Higher Education, it develops teaching, research and extension functions in areas that include technical, technological, undergraduate and postgraduate education, as well as scientific or technological research and the production, development and transmission of knowledge and culture. For UNAB, corporate governance, understood as the set of principles and rules through which rights and responsibilities are assigned to the governing bodies and their frameworks of action are defined, is an instrument to improve their missionary performance, and generate value for your stakeholders. This Corporate Governance Code is a self-regulatory document that reflects UNAB's commitment to strengthening its governance model. The Code describes in a general way the main elements of the management and control system of the University. In this sense, it acts as an articulator of all the elements of corporate governance defined by the University that are developed in more detail in other internal documents such as: the Bylaws, the regulations of the governing bodies, and the Code of Ethics. This document is structured based on the Political Constitution, the Law, the Bylaws of the Corporation and local and international standards of corporate governance.

This article examines the transfer of the OECD corporate governance code to Hungary. It documents the process of code transmission, and assesses its impact through an examination of corporate governance in the three largest Hungarian private companies-Magyar Telekom, MOL and OTP. The article illustrates the disjuncture between formal commitment to code adoption and its effective implementation, with a case study of the abortive takeover bid by OMV for MOL in 2007-2008. The reasons for the disjuncture are related to national and corporate contextual conditions, management incentives and the channels of transmission. Adapted from the source document.

Purpose
– This paper aims to discuss and compare the corporate governance codes in Gulf Cooperation Council (GCC) countries.


Design/methodology/approach
– The development of corporate governance codes in the GCC is considered using an analytical approach.


Findings
– Efforts and initiatives are underway in the GCC towards improving the corporate governance environment and coping with international developments. Although most GCC codes are comprehensive compared to those of other Middle East North Africa (MENA) countries, and are similar to international codes, as with almost all countries in the region, there is room for development. Updated codes that address the unique nature of these countries could enhance corporate governance.


Research limitations/implications
– This comparison between GCC corporate governance codes provides opportunities to empirically compare the corporate governance status in these countries through indices or checklists based on the current comparison.


Practical implications
– The research facilitates future evaluations of corporate governance in Gulf countries. In other words, different stakeholders, including investors and analysts, can utilise this paper during decision-making. Moreover, comparing GCC codes to others in the MENA region would help to assess the GCC's position in the region regarding these codes, and also alert firms to corporate governance reforms occurring in the region.


Originality/value
– The paper analyses the corporate governance codes issued in the GCC, which represents a group of countries with similar characteristics that are thus studied separately from other MENA countries, and compares the corporate governance codes issued for non-financial listed companies.

The present work attempts to make a comparative analysis among major corporate governance codes of five emerging economies in this world-Brazil, Russia, India, China and South Africa on 14 different significant parameters of corporate governance. The similarities and distinguishing features of corporate governance codes of these five nations are reviewed.

AbstractManuscript TypeReviewResearch Question/IssueThis study reviews previous country‐level and firm‐level studies on corporate governance codes up to 2014 in order to highlight recent trends and indicate future avenues of research.Research Findings/ResultsOur data show that research on codes increases over time consistently with the diffusion and the relevance of the empirical phenomenon. Despite previous studies substantially enriching our knowledge of the antecedents and consequences of governance codes, our study shows there are still several opportunities to make significant contributions in this area.Theoretical ImplicationsAgency theory is the dominant theoretical framework, although other theoretical perspectives (especially the institutional one) are increasingly adopted. Future studies should be aimed at widening and combining various theoretical lenses so as to develop new interpretations and a better understanding of governance codes.Practical ImplicationsLegislators and policymakers should continue to develop and update the recommendations of national governance codes in order to address the potential failures of corporate governance mechanisms in place.