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PurposeThe purpose of this paper is to examine the stock price reaction to the first announcement in SEC filings of the enactment of corporate governance guidelines. Agency and management theories suggest the enactment of guidelines should create value for the owners.Design/methodology/approachThe paper uses an event study methodology on a sample of 141 firms.FindingsThe research finds only a few firms exhibited a significant reaction. Overall, the data were not significant. Searching for first‐ or late‐mover advantages was also unsuccessful. However, the increased enactment of guidelines (bandwagon effect) supports first order imitation possibly due to the board interlocks found. The results indicate two possible explanations. First, SEC filings may not be a strong signal for the overall market resulting in a potentially unrealized stock value transferred to those few who act on the signal. Second, the value of the guidelines may be unclear to investors. In either case, more public disclosure (i.e. greater transparency) for the adoption of corporate governance guidelines may resolve the issue.Originality/valueThis paper provides valuable information on the value of corporate governance guidelines.

PurposeThe purpose of this paper is to identify how board recruitment processes have been impacted by the Australian Securities Exchange (ASX) governance changes requiring listed boards to report annually on their gender diversity policy and profile.Design/methodology/approachEmploying a social constructivist approach, the research analyses interviews conducted with matched samples of board directors and stakeholders in 2010 and 2017 about board recruitment in ASX50 companies.FindingsThe introduction of ASX guidelines requiring gender reporting disrupted traditional board appointment processes. Women's gender capital gained currency, adding an additional dimension to the high levels of human and social capital seen as desirable for board appointments. The politics of women's presence is bringing about changes to the discourse and practice about who should/can be a director. The authors identify highly strategic ways in which women's gender capital has been used to agitate for more women to be appointed to boards.Research limitations/implicationsWhile sample sizes are small, data within the themes cohered meaningfully across the time periods, making visible how women's presence in the board room has been reframed. Future research could consider what this may mean for board dynamics and how enduring are these changes.Practical implicationsThis study highlights the forms that human and social capital take in board appointments, which can be instructive for potential directors, and how these intersect with gender capital. The insights from the study are relevant to board recruitment committees seeking to reflect their commitment to a more gender equitable environment.Originality/valueThere has been a recalibration of men's and women's gender capital in board appointments, and there is now a currency in femaleness disrupting the historical privilege afforded "maleness".

Public corporate governance guidelines are viewed as a means to increase the transparency and efficiency of fully or partially state-owned organizations. Many OECD countries have thus introduced such guidelines over the past decade. We examine the effects of the introduction of corporate governance guidelines on the governance process and on government entities' portfolio of holdings. The analysis comprises the procedural effects, measured by the level of control, and the resulting effects, measured by the structure of the portfolio, of corporate governance guidelines. The introduction of guidelines at the subnational level in Switzerland has led to a significant increase in government control. However, the effect on government entities' portfolios is not obvious, as the introduction of guidelines does not necessarily lead to a reduction in the overall number of holdings of regional governments, an increase in the participation quota, or an increase in the proportion of public-law institutions in the portfolio.

Dissertation presented as the partial requirement for obtaining a Master's degree in Information Management, specialization in Information Systems and Technologies Management ; The perception of the public administration among society is widely associated with the area before the digital age and the information revolution: Less efficiency, less democratic, partially transparent, majorly bureaucratic, insufficient service quality, and slow responsiveness. Driven by information and communication technologies, there is an urgent need for disrupting the public sector to improve government decisions, increase the trust of citizens and their participation possibilities as well as enhance government accountability and transparency. The blockchain as a novel and innovative technology with its underlaying technological concept provides a plausible solution to reinvent the public administration processes and transactions with other governments, businesses, or citizens. This dissertation follows a design science research approach to apply multiple analytical methods and perspectives to create an artifact. The type of evidence within this methodology is a systematic literature review, with the goal to attain insights into the current state-of-the-art research of blockchain technology in the area of e-Governance. Additionally, proven best practices from the industry are examined in depth to further strengthen the credibility. Thereby, the systematic literature review shall be used to pinpoint, analyze, and comprehend the obtainable empirical studies and research questions. This methodology supports the main goal of this dissertation, to develop and propose evidence-based practice guidelines for the implementation of blockchain technology that can be followed by the public administration.

Public corporate governance guidelines are viewed as a means to increase the transparency and efficiency of fully or partially state-owned organizations. Many OECD countries have thus introduced such guidelines over the past decade. We examine the effects of the introduction of corporate governance guidelines on the governance process and on government entities' portfolio of holdings. The analysis comprises the procedural effects, measured by the level of control, and the resulting effects, measured by the structure of the portfolio, of corporate governance guidelines. The introduction of guidelines at the subnational level in Switzerland has led to a significant increase in government control. However, the effect on government entities' portfolios is not obvious, as the introduction of guidelines does not necessarily lead to a reduction in the overall number of holdings of regional governments, an increase in the participation quota, or an increase in the proportion of public-law institutions in the portfolio.

This study aimed to determine the compliance of management practices instituted in a third sector entity based on governance guidelines established by Brazilian organizations. It was exploratory qualitative research. Data were collected through in-depth interviews and documentary analysis; data analysis was performed by content analysis. The researched entity has a structure that meets the compliance function composed of three axes: (a) normative, referring to the adoption and formalization of the integrity program from instances, mechanisms and procedures dealing with ethical conduct, internal controls, laws, rules, regulations and risk management to which the entity is exposed, with complete adherence to the guidelines; (b) commercial, referring to the adoption and formalization of mechanisms covering relationships with partners, customers and suppliers, such as the accountability of funds raised; however, contingencies arising from the COVID-19 pandemic required mechanisms not yet foreseen for the accountability of resources from private donations. This axis had low adherence to the guidelines: (c) organizational, referring to the adherence and commitment of senior management to the policies instituted with a view to preserving the net worth, a financial sustainability and corporate social responsibility with almost complete adherence to the tested guidelines. In conclusion, organizations that depend on resources need an institutionalized compliance structure to ensure high levels of adherence, because as they become more reliable, they will receive more credibility and legitimacy. This study, based on the perceptions of managers, contributes to demonstrate the relevance of governance and the establishment of a culture of compliance in the third sector.

The paper presents a synthesis and analysis of corporate governance guidelines of the twenty-five European Union member states. The papes focuses on observable and quantitiable aspects of covernance including key aspects pertaining to the conpositionand operation of the board of ditectors, audit committee.

AbstractThe Ibero-American Charters developed under the CLAD are the result of consensus reached by the Ibero-American governments on good governance and public administration issues. Although they deal with various topics, including civil service, governance, electronic government, governance quality and citizen participation, the main point on them all is the citizen and his rights. Its contribution to the theory of democracy in the Ibero-American context is important and deserves to be known ; Las Cartas Iberoamericanas elaboradas en el marco del CLAD son resultado de los consensos alcanzados por los gobiernos iberoamericanos en materia de buen gobierno y administración pública. Si bien abordan diversos temas, como los de la función pública, el buen gobierno, el gobierno electrónico, la calidad en la gestión pública y la participación ciudadana, el centro en ellas es el ciudadano y sus derechos. Su contribución a la teoría de la democracia, en el contexto Iberoamericano, es importante y merece ser conocido. AbstractThe Ibero-American Charters developed under the CLAD are the result of consensus reached by the Ibero-American governments on good governance and public administration issues. Although they deal with various topics, including civil service, governance, electronic government, governance quality and citizen participation, the main point on them all is the citizen and his rights. Its contribution to the theory of democracy in the Ibero-American context is important and deserves to be known

Driven by the financial distress of many social security systems worldwide, national public pension funds (PPFs) have proliferated in recent years. Considering the fact that in 2007, they managed assets globally by more than four trillion and a half dollars, oversight of these pension schemes is utterly warranted. Since PPFs are ultimately financial intermediaries, strict regulation and close scrutiny of their stakeholders is desirable in order to avoid potential conflicts of interest between the owners and the managers of the funds, which are exacerbated in the case of pension funds administered by the public sector because of many reasons discussed in the paper. Governance standards should be equally rigorous as those applicable to private pension funds. Additionally, sound institutional structure is needed to keep under control undue political interference by promoting good practices of disclosure and accountability. According to several case studies, at present, national PPFs display heterogeneous standards in this regard. In light of their size and intrinsic governance shortcomings, there exists a pressing need for Guidelines of Good Practices for Public Pension Funds Governance that lays the grounds on which these particular institutional investors should be run to achieve their stated purposes. The current document provides Guidelines proposing as key areas of a PPF the maximization of the risk-adjusted net return on the reserves, collections of contributions, payments of benefits, compliance enforcement, and account management. In turn, an environment conducive to the accomplishment of these objectives must be grounded on three pillars: (i) Internal Governance Structure: a good internal governance structure is one that ensures that the Fund will be administered by a committed and professional governing body where decisions are made after careful deliberation and agreement between its members in accordance to the Fund's objectives and fully consistent with the long-term commitments made to plan members; (ii) Investment Policy: a good investment policy is one that clearly and explicitly sets forth in advance the short- and long-term asset allocation, its rationale in light of the Fund's goal, the risks involved, and the tools to be used to deal with deviations from such goal; and (iii) Transparency and Accountability: it is crucial that relevant and timely information be disclosed to all stakeholders so as to facilitate monitoring and oversight of Fund authorities and actions be taken to detect and punish opportunistic behaviors and bad performance. After listing the principles recommended for a good framework of governance, accountability and transparency, the document develops a Manual that complements the Guidelines with its technical rationale, some operational aspects and international experience as applicable. ; Departamento de Economía