Company Boards Research Articles

Forecast of the electrical energy demand of N’Djamena, Chad, based on the statistical method

We study the forecast of the electrical energy demand of the N'Djamena city, Chad, by 2032 using the statistical model based on the linear regression technic. A series of data of the maximum power demand (PMA) for the past years from 2005 to 2017 are obtained from the dispatching center of the company national electricity board of N'Djamena, which allow us to make energy projection from 2018 to 2032. Then these data are analyzed by the statistical method of linear regression forecast. The results obtained by the linear regression are closed to that provided by the Excel trend curve and they have a strong linear correlation coefficient of 0.963 between the maximum powers estimated and the given years. In addition, the predicted power peak needed by electricity consumers by 2032 is 175 MW compared to 90 MW in 2017, meaning that in 15 years, the consumption of electrical energy will pass from simple to double.

Women on boards, firm earnings management (EM) and performance nexus: does gender diversity moderate the EM–performance relationship?

PurposeThis paper aims to shed light on an essential role that “female directors” on boards of companies in sub-Saharan Africa play towards corporate financial performance enhancement. The study observes how board gender diversity moderates the relationship between earnings management (EM) and financial performance of firms in sub-Saharan Africa from a dynamic perspective.Design/methodology/approachThe study’s sample comprises 105 companies listed on the respective stock markets of nine sub-Saharan African countries. The data are collected from annual reports over the period 2007–2019, a total of 1,166 firm-year observations. Panel data models are used in the analyses.FindingsThe study finds that the performance effect of EM is contingent on board diversity and this finding persists even after controlling for dynamic endogeneity, simultaneity and unobserved time-invariant heterogeneity inherent in the EM and performance relationship.Research limitations/implicationsThe findings should be understood within the context that, only available annual reports and audited financial statements that were filed with respective capital markets of the nine surveyed countries are used as source of information.Originality/valueThe current study is unique, in that, it is the first panel multi-cross-country investigation within Africa to introduce gender diversity in the study of the relationship between EM and firm performance. It therefore extends the agency theory by using gender diversity as a moderating variable in the EM–firm performance nexus.

Pengaruh debt to equity ratio dan debt to asset ratio terhadap pertumbuhan laba pada perusahaan papan utama di industri property dan real estate yang terdaftar di BEI periode tahun 2017-2021

This study aims to find out how partially and simultaneously influence DER and DAR on profit growth, with a total sample of 28 main board companies in the Property and Real Estate industry which are listed on the IDX for the 2017-2021 period. This study uses secondary data in the form of numbers that are processed into a statistical measurement scale it is called secondary data. Data analysis technique using multiple linear regression test. The results of the study show that partially DER has a negative and insignificant effect on profit growth, DAR has a positive and insignificant effect on profit growth, while simultaneously DER and DAR have no significant effect on profit growth in main board companies in Property and Real Estate listed on the IDX for the 2017-2021 period.

During My Time…” (by IMAM Past-Presidents)

May we be protected by Allah the Almighty from self-aggrandisement (ta‘ẓīmun al-dhāti تعظيم الذات), self-delusion (wahmun al-dhātiوهم الذات ) and vanity (ghurūr غرور). Our resolve is to be always on the Path of the Divine instead of the Path of Shaitan. 1. SHIP: Sacrifice (prioritising commitments), Humility (humbling experiences), Intention (solely for Allah), Passion (from the heart). 2. FIMA: Immediate involvement in the international, professional, academic and humanitarian spheres. 3. Islamic Sciences (Diploma, Institut Pengajian Ilmu-Ilmu Islam, Malaysia) and Arabic (Egypt and Malaysia). 4. Islamic Movement: Influence of Ikhwān al-Muslimīn and Jamaat-e-Islami. (Abul A‘la Maududi died in 1979, Yūsuf al-Qaradawi led the funeral prayer at the Lahore Stadium, Pakistan. Leaders, activists and supporters of the Ikhwān were all released by President Anwar Sadat by 1971, only to be harrassed and arrested again by 1979-1981). 5. Academic Administration and Boards of Companies. The politics of academia and intricacies of entrepreneurship. 6. Malay Language and Literature, and DBP: Sastera Tanpa Sains Tiada Kemajuan. Sains Tanpa Sastera Tiada Keanggunan (Literature without science is devoid of advancement. Science without literature is devoid of elegance). “In our time...” describes the struggle and the earnestness of those around us; i.e. family, companions, colleagues and the milieu of professionals and fellow humans who wanted and still want to improve the conditions of the nation and the world. Sorrow Behind the Smiles: Notes on a Humanitarian Journey in Iraq, Kosovo, Afghanistan and Iran. Dewan Bahasa dan Pustaka, Kuala Lumpur 2006. One example of the five books describing international humanitarian missions in Iraq, Kosovo, Afghanistan, Iran, Palestine (Gaza) and Indonesia (Aceh) with IMAM, Mercy Malaysia, MyCARE. As we look to the future with this conference on how we will need to reset, refine, and reform the future of Malaysian Healthcare, we should also look back at how IMAM/PPIM contributed to the current healthcare milieu. We are blessed that 3 of our previous predecessors and presidents of IMAM/PPIM are here today with us to discuss their experiences and challenges in helming IMAM/PPIM during their time in office. We will also eagerly listen to them as we hope they will suggest to us the way forward in the challenges facing our profession and IMAM in the seemingly difficult future facing us. Please do join us in this discourse to better the future of medicine in Malaysia. International Journal of Human and Health Sciences Supplementary Issue: 2023 Page: S10-S11

EFFECT OF BOARD DIVERSITY ON FINANCIAL PERFORMANCE OF QUOTED HOSPITALITY FIRMS IN NIGERIA

This study examined the effect of board diversity on financial performance of quoted hospitality firms in Nigeria for a period of nineteen years (19) years spanning from 2003 to 2021. Specifically, this study ascertained the effect of gender diversity, age diversity and board independence diversity on cash flow return on investment. The panel data sets used in this study were obtained from the annual reports and accounts and Nigerian Exchange (NGX) Group fact books for the study period. Ex-post facto research design was employed. Inferential statistics using Pearson Coefficient Correlation and Panel Least Square Regression analysis were applied to test the hypotheses of the study. The findings showed that Gender diversity has a significant and positive effect on cash flow return on investment (β1 = 0.141799; P-value = 0.0000 < 0.05); Age diversity has a significant and positive effect on cash flow return on investment (β2 = 0.018494; P-value = 0.0000 < 0.05); Board independence has a significant and positive effect on cash flow return on investment (β3 = 0.289258; P-value = 0.0000 < 0.05) at 5% level of significance respectively. The study recommended inter alia that Company boards should have an independent majority since an independent majority on the board is more likely to consider the best interests of shareowners first. In times of high environmental uncertainty, outside directors can link the firm with scarce resources, help in effective strategy development and execution which can ultimately improve firm performance

De la “brecha de género” al “techo de cristal”: un análisis bibliométrico de la presencia de mujeres en los consejos de administración de empresas a través de mapas de evolución

This paper provides a bibliometric analysis of scientific articles addressing the topic of the presence of women on company boards. We conducted the content analysis and an evolution map of this research field on a sample of 395 articles published in Web of Science (1991-2017). Our results show that this field began with an approach focused on the gender gap from a solely comparative point of view between men and women, but has progressively evolved so that the most recent studies focus on the specific role of women given their growing relevance in the economy and society.

Трансформація управління фінансовими публічними корпораціями в умовах повоєнної відбудови економіки України

The aim of the article is to deepen and further develop the scientific foundations of transformation of management by financial public corporations in the context of post-war reconstruction of the economy of Ukraine in order to improve the efficiency of the State-controlled corporate governance. The article defines the essence, composition and meaning of financial public corporations in ensuring the post-war reconstruction of the economy of Ukraine; the functions of management of financial public corporations are disclosed; the best practice of localization of global mechanisms for the transformation of the State-owned banks is systematized; the directions of institutional changes of the role of the State in public finance for the post-war reconstruction through a combination of global and local approaches to attracting both the public and the foreign banking capital to Ukraine are substantiated. An assessment of indicators of the level of corruption and the shadow economy in Ukraine was carried out in order to identify tendencies in the changes of their dynamics for the period of 2009–2022. It is emphasized that in the current conditions the positive dynamics of these indicators can accelerate owing to changes in the corporate governance of the system of financial public corporations, primarily concerning the State-owned banks. Based on the analysis of the distribution of domestic government bonds by owners, it is proved that the monetization of the budget deficit forces the government to refinance the public debt, thereby shifting the debt burden to future generations, thus indicating the lack of stability of public finances. At the same time, the government’s active use of external sources of borrowing distorts the structure of public debt, as a result of which currency risks raise and the sensitivity of Ukraine’s economy to external shocks increases. Proposals on the need to adopt a law on corporate governance of the State-owned companies at the level of financial public corporations is substantiated, in accordance with the recommendations on the part of the OECD, in order to ensure transparent and impartial nomination, selection and reappointment of highly qualified professionals for the positions of members of the supervisory boards of such companies and introduce a procedure for the annual evaluation of supervisory boards. Prospect for further research in this direction is to find ways to improve the efficiency of management of financial public corporations, reduce the existing excessive concentration of public banking capital, including in the government borrowing market, in order to achieve a synergistic effect at the stage of post-war reconstruction of Ukraine’s economy.

Effect of Company Characteristics and Board Structure on Human Resource Disclosure Index in Indian Corporate Sector

Effect of Company Characteristics and Board Structure on Human Resource Disclosure Index in Indian Corporate Sector

Effect of company characteristics and board structure on human resource disclosure index in Indian corporate sector

Effect of company characteristics and board structure on human resource disclosure index in Indian corporate sector

Link between company characteristics, board structure and HR disclosure level in software sector in Indian context: perception or reality

Link between company characteristics, board structure and HR disclosure level in software sector in Indian context: perception or reality

Did the public company oversight board's restrictions on auditor-provided tax services reduce companies' tax avoidance

Did the public company oversight board's restrictions on auditor-provided tax services reduce companies' tax avoidance

The independent non-executive director: Origins, regulation and persistent challenges

The premise that non-executive directors acting independently from management is essential to the integrity of the company board has driven much of the corporate governance agenda for decades. This is the case, despite conflicting empirical evidence of the value or contribution of independent non-executives. In addition, the exact meaning of ‘independence’ in the context of the corporate board remains opaque, and expectations regarding the role and remit of the office are far from settled. This article elaborates on some of these themes. The discussion will introduce the reader to the salient concepts and offer an overview of the most prominent discourse and recent developments with reference to approaches in the United States, the United Kingdom, the European Union and other jurisdictions. Ultimately, the paper contributes to the ongoing debate surrounding the efficacy of the independent non-executive director as a critical oversight mechanism in good corporate governance and the extent to which regulation can and should scaffold the office.

Pathology of Rural Production Cooperatives – Evidence from Iran

Cooperative rural production companies are one of the most important types of cooperative system in Iran. Its activities have been started since 1963. It seems that this farming system hasn’t been able to become a source of positive developments to date. The present study seeks to assess the pathology of rural production cooperatives. The statistical population of this research is 55 rural cooperatives of Isfahan province with 21213 members that 41 cooperatives are active, with 16,870 members. The data collection method was documentary and survey. The required information for this research was collected by using a library method as well as interviewing method and completing the questionnaire. The sampling method was randomly classified according to the number of members of each cooperative based on sample size. According to the Cochran formula, 217 samples were determined and questionnaires were completed by the members. Also, 98 questionnaires were completed by the managers and board of cooperative production companies. The results showed that at least seven categories of damaged can be listed for these cooperatives, which are: adverse characteristics in cooperative members, adverse characteristics in cooperatives management, lack of communication, trust and participation of members with the management of cooperatives, low social activity of members in cooperatives, lack of effectiveness training for cooperative members, dissatisfaction with cooperative performance and lack of social capital.
 Received: 22 December 2021Accepted: 28 October 2022

Legal Protection of Minority Shareholders Through Derivative Lawsuits

One of the principles known in legal science is the principle of “majority rule Minority Protection”, this principle emphasizes that minority shareholders are considered for their interests and rights. This is because with a minority position, they tend to be less protected rights compared to majority shareholders. The legal protection of the majority shareholders is quite guaranteed, especially through the general meeting of shareholders (RUPS). While the protection of minorities this is a new thing and get less attention. The problem in this study is the regulation of legislation against minority shareholders in closed companies in Indonesia and how the legal remedies of minority shareholders related to violations of their rights. Law No. 40 of 2007 concerning Limited Liability Companies (PT Law) has stipulated that minority shareholders who are harmed due to members of the Board of directors making mistakes or negligence may file a lawsuit against the company (direct lawsuit) and file a lawsuit on behalf of the company (derivative lawsuit). This legal research used normative juridical approach. The data used were primary and secondary data which were analyzed using quantitative method. The results showed that the concept of derivative action provides a balance between effective recovery for shareholders on the one hand and on the other hand provides flexibility to the board of directors to make decisions that are free from shareholder interference. This concept is based on the principle that shareholders should not be involved in managerial matters within the company. In addition, the concept of derivative action plays a role in corporate governance, by providing a deterrent effect against members of the company's Board of directors or commissioners who commit irregularities or fraud. The court shall conduct a stage of testing or examination of errors that have been committed previously by the company concerned, if the company or the company is proven guilty then it can be summoned to a court which will thereafter be decided or tried, in court only accept and examine the derivative lawsuit, provided that the shareholders own at least 1/10 of the shares or 10% of the total number of shares with voting rights, if the commissioners and or directors make a mistake. Then it is considered effective if as long as the regulation is good and regulates certain existing or applicable laws. However, if as long as the court or shareholders see from the law does not match the existing regulations then it is said to be ineffective.

Financial Analysis Through The Application of Green Growth Economy (GGE) As A Moderation Variable Affects The Increase In GDP / GNP Economic Income In Indonesia During The Covid-19 Period Towards The New Normal

The study aims to determine whether the company's financial performance through financial ratio analysis and the application of GGE (Green Growth Economy) as a moderation variable affects the increase in GDP / GNP economic income during the Covid-19 period towards the New Normal can be achieved properly. The population in the study was 36 Main Board Companies in the Property and Real-Estate Sub-Sector, a sample of 17 companies with a purpose sampling method. Multiple Correlation Regression Analysis Method with t TEST and F TEST and Classical Assumption Test using SEM Analysis Model (Structure Equation Model) & MRA Test (Moderating Regression Analyze). Based on the Results of the Analysis of Mediation Tests With MRA Regression (Moderating Regression Analyze), Cash Ratio, NPM with a significance value of 0.386 & 0.244 greater than 0.05 Then indirectly through GGE is not able to affect GDP / GNP which means it is rejected. Meanwhile, DER and ROA with a significance value of 0.016 & 0.042 are able to affect GDP / GNP. Likewise, DER & ROE with significance values of 0.002 & 0.007 < 0.05 Then indirectly through GGE is able to affect GDP / GNP. CAR, NPM through GGE with significance values of 0.538, 0.171 > 0.05 Then it is not able to affect GDP/GNP which means it is rejected. While DER & ROA through GGE as a moderation variable with a significance value of 0.029 & 0.016 is indirectly able to affect GDP / GNP. DER, ROE, NPM via GGE as moderation variables with a significance value of 0.038; 0,002; 0.046 < 0.05 Then it can affect GDP/GNP. Sedankan Cash, DAR, NPM via GGE as moderation variables with significance values 0.196;0.193; 0.535 > 0.05 Then it is not able to affect GNP/GDP which means it is rejected.

EU Institutions: Revisiting Gender Balance and Women’s Empowerment

Equality Gender balance between men and women is one of the most current controversial issues in recent years that provokes a number of debates, questioning whether it really exists or is instead a myth. This article examines how the issue is regulated by European Union (EU) law and to what extent the legal framework is implemented into the current composition and work of European institutions. The trend of women’s empowerment is examined on the example of some of the EU institutions, mainly the European Commission and the European Parliament. The authors point out that, at the moment, three of the institutions included in the single institutional framework of the EU are headed by women—Ursula von der Leyen, Roberta Metsola, and Christine Lagarde—and the European Ombudsman is a woman. This represents an undisputed achievement in the field of gender balance at a higher political level within the EU as well as the appointment of the first-ever commissioner for equality. The newest secondary legislation framework is observed: Directive 2019/1158/EU on work–life balance and the latest development with regard to the female representation on corporate boards (Women on Boards Directive). The article also concludes that while some of the institutions have managed to make steps towards a real gender balance during recent years, not all of the Member States have experienced such progress, and this is evident in the organization and work of the Council of the EU. Although the introduction of quotas for women on company boards has been assessed ambiguously, it represents a necessary action ‘to break the glass ceiling’ and would give a new impetus to women’s empowerment within the EU.

Independence of the Supervisory Board in Banks: A Comparative Analysis of Indonesian and Malaysian Law

The independence of board members play a crucial role in establishing good corporate governance. This is especially important for banks compared to companies in non-financial industries as they play a key role in the nation's economy. Malaysian corporate governance carries a reputation of effective legal framework and enforcement system amongst ASEAN member states. The report by ACGA shows that Malaysian banks implement better corporate governance than banks in Indonesia. This paper seeks to find the adequacy of Indonesia’s regulation on the supervisory board independence in banks to ensure good corporate governance compared to the regulation in Malaysia. Findings to this research show that Malaysian law on independent board members are much more stringent than the requirements in Indonesia. The study also finds that the fundamental structure of the company board model (Indonesia adopts the two-tier model and Malaysia adopts the one-tier model) affects how supervision is upheld and the placement of independent board members within the company. Malaysian legal framework ensures a majority of independent members at both supervisory and managerial function, whereas Indonesian legal framework emphasizes the need for independence only at the supervisory function.

The Change of Directors by New Shareholders After Acquisition Under the Limited Liability Company Law

The dismissal or replacement of a company's board of directors has become a frequently discussed thing in the business world. A new shareholder replaces the board of directors or the shareholder rejects the board of directors' accountability report as a reason for the replacement of the board of directors. The Board of Directors is an important part of a company. This study aims to discuss the position of directors, the process of dismissal or replacement of directors, and compensation due to directors been replaced. This study uses a normative juridical method. This study concluded that the directors are organs of the company not workers in the company. The relationship between directors and companies is based on the Limited Liability Company Law, the Capital Market Law, and the Anti-Monopoly and Business Competition Law. This relationship does not refer to the Labor Act. The position and process of replacing the board of directors based on the Limited Liability Company Law. Fired directors may receive compensation as stipulated in the agreement between the board of directors and the company. The Company can be represented by the board of commissioners as agreed in the General Meeting of Shareholders.

Application Of Acquit Et De Charge In Removal Of Liability Of The Board Of Directors Of A Limited Company

The Indonesian people demand the form of a Limited Liability Company because of legal certainty in the form of limited liability, providing convenience for the owner (shareholder) to transfer his company by selling all the shares he owns in the company. Where there is a clear separation between ownership and management (power); therefore, to be able to run the company, there is management called the Company Organ, and it is divided into 3 (three) parts: the Board of Directors, the Board of Commissioners, and the General Meeting of Shareholders. The Board of Directors has dominant authority in the management and representation of the company inside and outside the court. With great authority, there is also significant risk. The Board of Directors is very vulnerable to being sued and prosecuted in court; this condition makes the Board of Directors worry about taking steps. The doctrine of acquit et de charge, which is implicit in Law Number 40 of 2007 concerning Limited Liability Companies (Perseroan Terbatas/PT), still does not provide adequate protection for the personnel of the Board of Directors. This study aims to describe legal certainty in the application of acquit et de charge as an effort to protect the Company's Board of Directors. This research is descriptive of the type of juridical-normative research. The type of approach used is the statutory approach and the conceptual approach. However, in reality, there is no legal certainty in Indonesia applying to acquit et de charge.

From local champions to global players: A long‐term perspective on Swiss companies’ connections across territorial scales

AbstractCorporate interlocking at the national and transnational scale has received substantive scholarly attention. Less is known about companies’ ties to the cities and regions in which they have their seats. In this paper, we conduct a long‐term analysis of the multilevel ties that companies maintain with the local and the national context they are embedded in. To do so, we adopt a positional approach and identify the directors of the major companies in the three largest Swiss cities (Basel, Geneva, and Zurich) and study company directors’ ties to local and national organizations in seven benchmark years between 1890 and 2020. Our analysis documents the rise and fall of company directors’ ties to national organizations over the course of the 20th century, and it highlights the continued persistence of companies’ ties to the local level and their region until the new millennium, when companies’ ties with national and local organizations vanish, coinciding with the transnationalization of company boards.