Corporate Governance and Financial reporting Research Papers (original) (raw)

I study the implications of economic shocks for objective and subjective CEO performance evaluation. A shock perturbs pay-setting parties' information about the firm and the CEO. I argue that pay-setting parties then lack information they need for evaluating the CEO objectively, and de-emphasize objective CEO performance evaluation in favor of subjective CEO performance evaluation; over time, pay-setting parties become better informed about the firm as well as the CEO, and increasingly use again objective CEO performance evaluation. My evidence, which uses data on objective and subjective CEO performance evaluation in US executive pay between 1992 and 2013, is consistent with my argument.

Market orientation has been known as an efficient managerial tool to assist in sustaining the performance of organisations. Market orientation has three dimensions, namely customer orientation, competitor orientation and inter-function coordination. This paper evaluates how corporate governance influences the three dimensions of market orientation within Iran's upscale hotels. The impacts of the three dimensions of market orientation on the hotels' social and financial performance are also examined to determine if market orientation mediates the relationships between corporate governance and performance. Partial least squares structural equation modelling (PLS-SEM) is used to analyse the survey data collected from the executives of four-and five-star hotels in Mashhad, Iran. Results show that corporate governance positively influences the three dimensions of market orientation, while overall market orientation influences financial and social performance. Specifically, customer orientation and inter-function coordination significantly reinforce such mediation, whereas the influence of competitor orientation is limited to financial performance.

- by Soheil Kazemian and +1
- •
- Development Economics, Corporate Governance and Financial reporting

This study aims to examine the relationship between the OECD Principles of Corporate Governance on social responsibility accounting disclosure (SRAD) in Jordanian companies listed in the Amman Stock Exchange (ASE). The questionnaire and annual reports were both employed to collect the information from 104 companies in financial, services, and industrial sectors. SmartPLS3 was used to analyse the data. This study found that there is a relationship between the principle of the role of stakeholders, the principle of the rights of shareholders and key ownership functions and social responsibility accounting disclosure at p-value 0.029* and 0.022* (one tail) respectively. While there isn’t a relationship between the other principles with social responsibility accounting disclosure. Therefore, it is recommended that Jordanian government should formulate a policy which will further encourage the listed companies toward social activities and their disclosure. The findings will no doubt be useful to the Jordanian policy makers, the board of directors, and other stakeholders in both ASE listed and unlisted companies.

This research examines the effect of ownership structure and good corporate governance on firm performance. The research variables used were foreign ownership, institutional ownership, government ownership, size of the board of commissioners, and size of non-financial sector companies on the Indonesia Stock Exchange throughout 2013-2017. This study deployed a quantitative approach through multiple linear regression analysis, with a total sample of 1,650 observations. The research findings were foreign ownership, government ownership; board commissioner size had a significant positive effect on firm performance while institutional ownership and firm size had a significant negative effect on firm performance.

The study investigated effect of Intellectual Capital on Return on Assets of listed Commercial Banks in Nigeria during the period 2007 to 2016. The choice of the period was predicated on establishing the relationship of the variables during the Sub-Sector's post consolidation era in Nigeria. It employed ex post facto research design and extracted data from cross section of three banks annual report using non-probability sampling technique. The banks purposively selected include 2 banks with international outlook and one medium size bank. The paper adapted the Value Added Intellectual Capital Coefficient theorem as proxy for Intellectual Capital while Return on Assets was adopted as the dependent variable. The study engaged Panel data regression technique in a longitudinal data framework of thirty (30) observations and the results established how Intellectual Capital components collectively affect Return on Assets of the Banks studied at 5% level of significance in line with a priori expectation. It provided evidence that the differential coefficient of each bank's Intellectual Capital differs but each bank's intellectual capital has significant effect on return on assets. The paper further revealed that the individual components of Intellectual Capital have insignificant relationship with Return on Assets. The study therefore recommends that banks should compensate their employees based on value addition, utilize facilities at full capacity and efficiently, and should ensure that training of staff be directed towards value addition.

This study shows how labels anchored in unconscious bias can contribute to the gender institution. It draws on interviews with women leaders in Canadian for-profit organizations to illustrate how labels relate to unconscious bias towards women leaders, how labels delegitimize or legitimize women leaders, and how women leaders react to labels. Guided by these results, the study theorizes how the micro-level practice of labeling anchored in unconscious bias can uphold or disrupt gender categories and associated gendered social roles, thus shaping the gender institution.

- by Claudine Mangen
- •
- Sociology Of Deviance, Leadership, Social Interaction, Discourse

This study examines the marketing strategies of companies originating in small and open economies as they expand into foreign markets. It distinguishes two major globalization paths (that of born globals and that of globalizing internationals), contrasts them with traditional internationalizers, and describes their characteristics. It then outlines a framework and hypotheses regarding the marketing strategies used in foreign expansion and examines them empirically in the information and communication technology field. The authors examine two important strategic marketing issues: the breadth of product offering and the standardization of marketing strategies across countries. The empirical results show that foreign expansion path, foreign business experience, and external globalization pressure have an impact on the selection of marketing strategies. The study also finds that the fit between these contextual factors and the standardization of marketing strategy has a positive effect on performance. The novel results regarding the importance of foreign expansion paths in the selection of marketing strategies have important implications for both academicians and practitioners in the field of international marketing.

Code of ethics is already established for professional accountant of Bangladesh in public practice and business. Every professional accountant follows this code of ethics to maintain their professionalism as well as reporting. The purpose of this research to investigate some threats those are faced by professional accountant to carry out their code of ethics. This study based on a sample of 61 professional accountants working at different audit firm and different business organization in Bangladesh. Data analyzed by using SPSS 17 and one sample statistics and one sample test was used as analytical tools in this study. There are 18 variables considered from integrity, objectivity, professional competence and due care aspect. It is found that professional accountant face various self-interest threat and selfreview threat in reporting and financial report does not provide accurate information for tax purpose after audited in many cases.

- by Urmee Ghose
- •
- Business, Finance, Computer Science, Accounting

This study investigates the impact of green bond issuance on corporate performance and further checks the intermediate effect of corporate innovation performance on the primary relationship. This study uses the quarterly panel data of Chinese non-financial listed companies in 11 sub- divided industry categories from January 1, 2016, to September 30, 2020. Using the difference-in- difference (DID) model and the parallel trend test, it is found that companies’ issuance of green bonds has a significant positive effect on improving corporate innovation performance and corporate value. Furthermore, the improvement of innovation performance assists in enhancing the promotion effect of green bond issuance on corporate value. Despite data limitations, this study’s findings can be very helpful for all relevant stakeholders, especially regulators, to intro- duce conducive policies to support the issuance of green bonds in Chinese. Our findings can be useful for other emerging markets that are dealing with the same green bond-based growth- sustainability conundrum.

Within the globalized economy, enterprise risk management and internal auditing are established as an essential means for the exact management of any business economic resources. Simultaneously, corporate governance has received wide attention in recent years both in practice and in academic research because of the major accounting scandals and large-scale corporate failures. Thus, Technological advancements have recently sharpened the ever-increasing attention on internal auditing, corporate governance and enterprise risk management. Unfortunately, there is no such a study for the case of Greece that examines the interaction between mitigating enterprise risk management, internal audit and corporate governance. In this concept, the main purpose of the present paper is to sketch in broad brushstrokes the relationship between internal audit, corporate governance and enterprise risk management. According to up-to-date theoretical and empirical literature, the results point out the factors that assess the interaction between internal audit and corporate governance.

Financial reporting is perceived no longer as a low priority book keeping exercise, but a central function for directing a company under good corporate governance principles. This study is an empirical investigation of corporate governance and financial reporting quality of quoted companies in Nigeria. In order to achieve the objectives of the study, a total of fifteen firms quoted on the Nigerian stock exchange market under the consumer goods sector with updated financial information for the period under study were selected and analyzed for the study. Data for the study were extracted from corporate annual reports and accounts of selected firms for the period 2012-2016. Data for corporate governance proxied by board size and audit committee independence were extracted from the notes from annual reports and financial reporting quality was represented by audit delay. In testing the research hypothesis, the study adopted simple regression techniques for the quoted sampled firms analyzed. The findings revealed that audit committee independence does not exert significant effect on audit delay of corporate firms. Also, board size has a significant negative relationship with audit delay of corporate firms in Nigeria. Consequent upon this study, it was recommended that corporate policies should reflect commitment to company variables such as board size that will significantly impact the quality of financial reporting. This position is borne out of the preponderance of the negative relationship between board size and audit delay.

The present paper addresses the case study of a financial institution, the Kendallville Bank, developed by The Anti-Fraud Collaboration. The constituents of the Collaboration are the Center for Audit Quality, Financial Executives International, the National Association of Corporate Directors, and The Institute of Internal Auditors. These organisations are concerned with financial reporting fraud deterrence and detection. The case study approaches financial reporting fraud at a multidimensional level. It explores the corporate governance arrangements and management control instruments at place at the Kendallville Bank. The findings are discussed against the theoretical framework of the Agency Theory and the Stewardship Theory. Shortcomings of the arrangements are identified and safeguards are recommended on the background of international corporate governance best practice and academic literature. The risks arising from corporate governance weaknesses are addressed through various risk control procedures. Culture control is
acknowledged as a major instrument to improve effectiveness and performance of the bank through a shift in the interpersonal interaction of the Board members, the executive team and the auditors.

This paper provides with a general overview of the new corporate reporting trend called integrated reports. The paper first introduces the concept of integrated report. Then it describes the main issues related to integrated reports as proposed by International Integrated Reporting Council (IIRC). After that the findings of some selected literature on integrated reports were summarized. The article concludes that integrated reporting as a new and emerging trend of corporate reporting is still in its early development phase.

The set of structures, rules, and processes that govern a firm are referred to as corporate governance. It offers firms with rules on how to conduct and regulate their businesses. In light of this context, the purpose of this study is to looks into the impacts of corporate governance on financial performances in Indian fast-moving consumer goods (FMCG) firms. A sample of 10 Indian fast moving consumer goods businesses is investigated based on their Corporate Governance procedures, which were chosen based on in Indian FMCG businesses, this study makes a
significant contribution
their market valuation. Corporates governance
parameters such as boards size (BS), audit committee
meetings (ACM), and audits committee
independences (ACI) were the focus of the study.
The dependent variables are returns on assets (ROA)
and returns on capital employed (ROCE).The firm
size is the controls variable. The findings
demonstrated a link between corporate governance
factors and company success as evaluated by return
on assets and return on capital employed. However,
only audit committee independence exhibited a
significant relationship with performance when
accounting metrics (return on assets and return on
capital used) were applied. By evaluating the impact
of corporate governance on financial performances

There have been a problem of Mutoko Rural District Council failing to produce financial
statements on time. The council felt that the delays in financial reporting were due to use of
manual accounting system and therefore engaged in the use of PROMUN accounting package.
The council had hope to clear the time lag with the use of the accounting package. However the
council was failing to fully utilize the accounting package which in turn caused delays again in
financial reporting as well as failure to achieve all targeted goals which were meant to be
accomplished with the use the accounting package. The study sought to analyze the impact of
PROMUN accounting package in financial reporting of Mutoko RDC.

Contemporary research is emphasizing the development of sound accounting systems in SMEs in
order to improve financial management in these entities. This research investigated accounting record
keeping practices for performance measurement employed by SMEs in Zimbabwe, using Bindura as a
case. The survey research design was used. The target population comprised of 100 SMEs operating
retail shops, manufacturing firms and suppliers of various services in Bindura. A structured
questionnaire was used to collect primary data from the respondents which was analysed to generate
frequencies and percentages. The study revealed that the majority of SMEs do not keep complete
accounting records because of lack of accounting knowledge and as a result there is inefficient use of
accounting information in financial performance measurement. The study recommended that national
regulators must develop specific accounting guidelines for SMEs and develop accounting training
programmes for entrepreneurs in small businesses. The study also recommended mandatory record
keeping, to improve accounting practices of SMEs in Zimbabwe.

È inevitabile pensare che l’assetto disciplinare in essere rappresenti solo una fase transitoria di una evoluzione che a piccoli, ma rapidi, passi porterà ad una trasformazione dei contenuti dell’informazione al mercato che – quanto meno con riguardo ai temi sociali e ambientali – imporrà chiarezza e trasparenza su una dimensione previsionale di lungo periodo – e quindi strategica – oggi ignota all’informazione societaria di natura finanziaria. Una dimensione che costituisce terra di nessuno, per il momento, anche in termini di responsabilità da misleading information.
[…] gli obblighi di disclosure in esame se da un lato hanno uno scopo promozionale e di incentivo verso comportamenti di governance “sostenibili” dall’altro – nell’ottica di maggiore efficienza del mercato dei capitali – devono trovare adeguato terreno di valorizzazione da parte di particolari utilizzatori dell’informazione stessa, operatori del mercato finanziario (non solo dunque degli altri stakeholders) in grado di consentire l’allocazione delle risorse e degli investimenti in direzione di una maggiore e sistematica sostenibilità, nei termini auspicati e auspicabili dalla Commissione.

Menée dans le contexte français, cette étude analyse la perception de l’utilité du rapport d’audit et l’intérêt qui lui est porté par un échantillon de professionnels.
Le rapport d’audit est une thématique qui fait l’objet de plusieurs projets internationaux cherchant à le réviser pour mieux répondre aux attentes des utilisateurs.
En France, ce document a été significativement refondu grâce aux réformes qu’il a subies, dont la plus récente, concerne la création d’un paragraphe relatif à la justification des appréciations.
A partir de ces constats nous avons mené une étude empirique qualitative au cours de laquelle nous avons conduit 69 entretiens semi-directifs auprès de deux échantillons d’utilisateurs dans le contexte français.
Les résultats de cette enquête permettent de comprendre la faible attractivité du rapport d’audit qui ne satisfait pas les utilisateurs et se trouve en dessous de leurs attentes. La perception de l’utilité et de l’utilisation de ce rapport dépendent de certains facteurs, tels que le profil de l’utilisateur interrogé, la nature de l’opinion émise et le contenu informationnel identifié.

Notre article porte une attention particulière au sujet de la gouvernance des start-ups. La plupart des recherches s'intéressent aux grandes entreprises, alors que peu de recherche s'intéressent aux start-ups. Il s'agit d'une exploration théorique qui met le point sur les spécificités de cette entreprise, ainsi ses mécanismes de gouvernance. On va se focaliser sur la nature de la start-up, les exigences liées à la structure de son capital et de ses différentes évolutions, sans oublier la composition variée de son conseil d'administration.

The move towards adopting unified and higher quality accounting standards across the globe started fully in 80s and was catalyzed by stakeholders in advanced economies, in the year 2001 with the establishment of the International Accounting Standards Board (IASB). In its first sitting, the new board unanimously agreed to consolidate all the Standards issued under IASC (IASs) with the ones issued under the new board (IFRSs) as IFRS-framework. The board also stipulated clear procedures to be followed by every entity adopting the consolidated framework. Thus, this study assessed the extent to which the Nigerian Banking Industry complied with these requirements as captured in IFRS 1: First Time Adoption of IFRS. Using ex-post facto and survey research designs, the study sourced data from structured questionnaire and recent audited financial reports of the sampled banks. Qualitative Grading System (QGS) was employed in determining the degree of compliance of the banks while Multivariate regression and Chi-squire test were used in measuring the effect of the factors responsible of such compliance and identified probable difficulties in the process respectively. The study concludes that, Nigerian banking industry complied (semi-strongly) with the requirements of IFRS-framework but, the exercise is still faced with some challenges which include: lack of indepth IFRS knowledge from the preparers of the financial reports. The study also found amenability, globalization and response to users’ needs as factors significantly influencing the compliance level of Nigerian banks with IFRS-framework.

The code of corporate Governance code (2011) in Nigeria was ushered with a target to enhance the monitoring function of board of directors and audit committees. This study investigates the ability of certain board dynamics to influence management attitude in relation to reporting quality in Nigerian listed firms. Accruals, a proxy for financial reporting quality is estimated using the Dechow and Dichev model. Using a panel data obtained from annual reports of 69 listed Nigerian firms from 2008 to 2012, the study documents that board independence, board tenure, gender diversity and directors' shareholding are significant predictors of financial reporting credibility in Nigeria. The board size was found to have a neutral effect on financial reporting quality. This study extends existing literature by contributing to knowledge on how board traits influence financial reporting quality in emerging economies such as Nigeria.

This study investigates the influence of the board chairman's involvement in the audit committee (AC) (as a proxy of AC independence) on earnings management (EM) practices. We examine Bursa Malaysia listed firms with slight positive earnings for the years 2013 to 2015. Using ordinary least squares regression and the Modified Jones Model by Kasznik as a measure of accruals, this study reveals that an AC that includes its board chairman is associated with greater discretionary accruals and EM. Further, we categorise a board chairman's involvement in an AC into two types: a board chairman who also serves as the AC chairman (hereafter termed board chairman duality) and a board chairman who sits in the AC as an ordinary member. We find that board chairman duality does not influence EM. However, ACs whose members include the board chairman are associated with EM practices. This study supports agency theory and the initiatives taken by policy-makers to deter board chairmen from serving on ACs. It also alerts policy-makers, firms and their stakeholders, as well as researchers to the importance of having an AC free from the involvement of its board chairman as this will enhance the committee's effectiveness in curbing EM.

- by KUNORIZAH KUISMAIL and +1
- •
- Financial Accounting, Corporate Governance, Firm Performance, Corporate Governance and Financial reporting

Nowadays a company is thought to be a social entity. Hence, it has some responsibilities towards the welfare of the society. Bangladesh Bank as the central bank of Bangladesh has urged the commercial banks to play role for the welfare of society. Thus, this study is an endeavor to find the extent to which the listed banks in Bangladesh accomplish their corporate social responsibilities (CSR) and to explore the level of disclosure for CSR in the annual reports. The research has been conducted with secondary data collected from the annual reports of the sample companies for the year 2012. To measure the CSR activities and relevant disclosures in the annual reports an un-weighted disclosures index has been prepared based on extensive literature survey. The findings of the study reveals that the sample companies’ CSR activities are limited in certain areas as it is found that the CSR scores of the sample banks vary from 10 to 35 out of total allocated score of 96 from 6 different sectors. Among the sample banks Dutch Bangla Bank Limited has been found as the best performer in this regard with a disclosure score of 35.

Th is study investigates the effect of corporate governance mechanisms on reported earnings quality of listed Insurance companies in Nigeria. The Nigerian Insurance industry has over the years faced unique challenges precipitated by lack of clear operational guidance, high premiu m cutting, creative accounting and weak governance dynamics. However, with the introduction of the code of good corporate governance for the industry and adoption of the International Financial Reporting Standards, it is expected that these factors inhibiting the growth of the industry would be mitigated. Th is study is thus poised at presenting a model aimed at ascertaining the extent to which governance mechanisms associate with creative accounting practices in the industry. Using twenty five (25) quoted insurance firms during the period 2007-2010, the study regressed five governance mechanisms on reported earnings quality proxy. Multip le regressions were emp loyed for the analysis using the software SPSS version 17.0. The study finds that board size, board independence and audit committee size are negatively and significantly associated with earnings management while audit co mmittee independence and independent external audit have positive relationship with discretionary accruals. The study thus recommends that the NAICOM 2009 code of corporate governance regulation on board size and board independence be made stringent and sustained and that future research works investigate other governance dynamics such as ownership concentration, audit committee diligence and institutional investors amongst others in other sectors of the Nigerian econo my.

In September 2011, the European Union Commissioner Michel Barnier explained that there are weaknesses in the way the audit sector works today and the crisis highlighted them . Such weaknesses were not detected for the fi rst time: a few years earlier the problems of the audit sector emerged when Enron collapsed and the chicanery of its auditor Arthur Andersen was revealed to the markets. Since then, auditors and audit fi rms, namely, the Big Four have been subject to the long standing debates not only in the academic world but also in a number of European laws and regulations. This article examines the role of auditors in the global fi nancial crisis of 2008 and whether they actually failed in their role.

The study sought to find out the relationship between the liquidity and the profitability of banks listed on the Ghana Stock Exchange. Seven out of the nine listed banks were involved in the study. The study was descriptive in nature. It adopted the longitudinal time dimension, specifically, the panel method. Document analysis was the main research procedure adopted to collect secondary data for the study. The financial reports of the seven listed banks were studied and relevant liquidity and profitability ratios were computed. The trend in liquidity and profitability were determined by the use of time series analysis. The main liquidity ratio was regressed on the profitability ratio. It was found that for the period 2005-2010, both the liquidity and the profitability of the listed banks were declining. Again, it was also found that there was a very weak positive relationship between the liquidity and the profitability of the listed banks in Ghana. Key words: Bank, Profitability, Liquidity, Assets, Ratios 1.0 Introduction

This study examines the impact of risk management committee on real earnings management through sales manipulation of listed companies in Nigeria. The analysis is based on a sample of 80 listed non-financial firms for the period of five years (2012-2016), making up 400 firm-year observation. The data was extracted from the annual report of the sample firms and Thompson Reuters database. Panel corrected standard error regression (PCSE) was employed. The results show that risk management committee (RMC) and independence directors reduce the management desire to manipulate the reported earnings. The study informs the regulators on the needs for firms to set up an independent RMC to restrain management from manipulating the real earnings activities through sales.

This is an exploratory study designed to investigate the extant and nature of corporate social responsibility disclosure (CSRD) in corporate annual reports (CAR) of listed companies in Bangladesh. Specifically, the report examines the relationship between corporate attributes and firm-specific factors and corporate social responsibility disclosures. Data are taken from annual reports of 2007 of the listed companies of Dhaka Stock Exchanges. The study uses ordinary least squares regression model to examine the relationship between explanatory variables and corporate social responsibility disclosure and un-weighted relative disclosure index to measure voluntary disclosure. The extent of CSRD level is measured using 39 items of information. The result shows a positive association between proportion of Independent Directors (INDs) and Corporate Social Responsibility Disclosure (CSRD). But, size of the firm does not affect the level of corporate social responsibility disclosure. Control variables suggest that Board Leadership Structure (BLS), Board Audit Committee (BAC) and Percentage Return on Equity (PROE) are positively associated with company " s corporate social responsibility disclosure (CSRD). The result shows that a higher proportion of independent non-executive directors on a board is positively related to the level of corporate social responsibility disclosure but the extent of corporate social responsibility disclosure is negatively related for firm " s size.

In this paper we review the burgeoning literature on the study of corporate financialization, distinguishing three strands of empirical, quantitative studies: 1) national-level and macrocomparative analysis, 2) sector-and firm-level analysis, and 3) econometric studies. We argue that corporations should be studied in their spatial organization. The spatial organization of the firm can be used to obscure corporate activity. Geography is not simply one of the many features of corporate structure but is key to it and therefore fundamental to shaping corporate financialization, although this is insufficiently expressed in accounting principles that provide consolidated accounts. Finally, we suggest four avenues for future studies: 1) to expand the geographical and temporal scope of research; 2) to pay close attention to how indicators are constructed; 3) to deconstruct large categories of analysis, such as 'financial assets'; 4) to systematically include liabilities in the analysis of nonfinancial corporations, especially in the face of the abundance of credit.
Keywords: Corporate financialization, corporate governance, critical accounting, financial geography, non-financial corporations (NFCs), shareholder value, spatial organization of the firm

- by Rodrigo Fernandez and +1
- •
- Economic Sociology, Economic Geography, Econometrics, Corporate Governance

The general objective of the study is to find out the determinants of the profitability of insurance firms in Ghana. Secondary data on financial reports were collected from sixteen insurance firms in Ghana for the period 2005 to 2010.The study was quantitative in nature. It adopted the longitudinal time dimension, specifically, the panel method and ordinary least square regression. The study discovered that, apart from tangibility which has a negative relationship, there is a positive relationship between leverage, liquidity and profitability of insurance firms in Ghana. It was also concluded that, the profitability model adopted has been explained in respect to all the independent variables and that the degree of error is less than 20%. Finally, it is suggested that the explanatory variables used in this study should be regressed on Return on Equity to find their extent of relationship on profitability. Keywords: Determinants, Profitability (Return on Assets), leverage, liquidity and Tangibility.

This study examines whether corporate governance (CG) codes affect the tax management of banks. Audit committee volumes (VAC), audit committee meetings (MAC), board sizes (BS), board meetings (BM), board independence proportions (IBP), and proportion of non-executive board of directors (NBP) are considered as the proxies of CG developed from BSEC Corporate Governance Code 2018. The extent of the effective tax rate (ETR) is used to assess tax management. This study uses quantitative research design and obtained 204 observations from 17 banks listed on DSE covering 2009-2020 period. Performing the "Two-stage Least Square" (2SLS) model for the analysis, we got the regression outputs where the VAC, MAC, BS, and IBP are negatively and significantly associated with ETR gap. But BM and the NBP were not significant to influence the ETR gap. The results indicate that CG proxies lessen the ETR gap, and improves the tax management. To check the robustness of the results, we apply pooled OLS (ordinary least square) model and two-step-system GMM (Generalized Method of Moment). In this case, we found consistent findings except for the MAC because it came out as insignificant. The results generated from this study would be a policy dialogue for the bank regulatory bodies, corporate authorities, policy-makers, and academics.

- by Md Mominur Rahman and +1
- •
- Corporate Governance, Corporate Governance and Financial reporting, Tax Management, Taxation and Tax Administration

We, the undersigned, have unanimously agreed that the work produced in this book is our work. We have referenced and acknowledged any other materials, authorities, and sources. We have read and understood the section on plagiarism in the LLB Student's Handbook and are prepared to submit an electronic copy of this book if required. Victor Ediagbonya was elected as the group leader, coordinating the project, ensuring that deadlines were met and arranging meetings. The project aimed to produce a book. Victor Ediagbonya framed the themes for each book chapter; however, the authors were at liberty to choose which themes to address. Throughout the collaboration of this book, we maintained contact via e-mails, telephone calls and meetings at regular intervals to discuss the book's progress. Contributors were required to submit their final draft chapters to Victor Ediagbonya for review and editing on 27 th February 2009.

The investment climate in the country depends largely on the level of confidence of potential investors, which actualizes the need to provide transparent and quality financial reporting to economic entities. Powerful corporations that have established an effective corporate governance mechanism are able to provide high competitive advantage over the long term, contributing to their financial and economic stability. The purpose of the article is to determine the impact of corporate governance mechanisms on the quality of a company's financial statements. The corporate governance rules in force in Saudi Arabia were developed in 2006, then revised twice in 2009 and 2015, and only finally approved in 2017. The survey was based on the results of an electronic survey of 56 Saudi financial analysts selected from their LinkedIn profiles (financial analysts were selected by respondents because they play a significant role in the capital markets and are users of financial statements). The author points out that the objectivity of the survey results can be enhanced by expanding the sample of survey participants. The questionnaire contained 11 questions about corporate governance and its contribution to improving the quality of the financial statements of the respective companies. The results of the survey have empirically confirmed that corporate governance is a factor contributing to improving the quality of financial reporting and, consequently, increasing foreign investment inflows, so compliance with the new corporate governance rules is extremely important for Saudi Arabia corporations. Improvements in corporate governance mechanisms are perceived by members of boards of directors, audit committees, and internal audit departments as one of the main factors in improving the quality of financial reporting.

Corporate governance is the set of processes, customs, policies, laws, and institutions affecting
the way a corporation (or company) is directed, administered or controlled. Corporate
governance also includes the relationships among the many stakeholders involved and the goals
for which the corporation is governed. The Corporate governance of business organizations is
said to be of high quality when they possess certain features like income derived from core
business operations, recognized, measured, and presented in accordance with GAAP, close to
reality, accounting policies chosen, where GAAPs allow choice, consistently followed etc. But
there are few limitations with reference to preparation of financial statements even though the
preparers are adhered to GAAP norms. Such limitations are leverage provided by GAAPs in the
choice of accounting policies and changes there in, window dressing in accounts and financial
statements. It is clear from the above discussion that even within the framework of GAAPs it is
possible for the management to fabricate the bottom-line thus affecting the quality of earnings
and the quality of corporate governance and making it difficult for the analyst to predict the
future profitability of the company. There are many examples where best Indian companies have
adopted faulty accounting practices. This study will be conducted to check whether the good or
bad accounting practices will have similar effects on the corporate governance of an entity or
not. An analysis will also be conducted how the companies can commit financial shenanigans in
their financial statements within the frame work of accounting standards. Few Indian companies
will be selected to make this particular study. Based on the study appropriate findings,
suggestions and conclusions will be offered.
KEYWORDS: Accounting practices, Accounting policies, Accounting standards, GAAP norms,
corporate governance, Quality of earnings, Window dressing, and financial statements, financial
shenanigans.

This paper is a literature review of recent corporate governance research in Nigeria. It identifies the recent advances and challenges in the literature and suggest some directions for future research. A comprehensive review of the recent corporate gov-ernance literature is important because it provides a basis to compare the corporate governance experience in Nigeria with the corporate governance experience in other African countries and developing countries. The findings from the literature review reveal that the board of directors is the most explored corporate governance determinant in the Nigerian corporate governance literature. Most studies focus on some corporate governance determinants, and ignore other corporate governance determinants in firms. There is some consensus that corporate governance failure in Nigeria is caused by multiplicity of factors such as lack of political will by the government to enforce corporate governance laws, deliberate refusal to comply with existing corporate governance laws by politically connected firms, weak compliance by firms, weak enforcement by regulators, and conflicting codes in the country's corporate governance codes. Also, recent corporate governance studies do not systematically build on previous corporate governance studies. Regarding methodology , most Nigerian corporate governance studies are merely experimenting different methods of analyses without advancing the literature in a significant way. The study also finds that the 2018 Nigerian code of corporate governance solves some problems and create new problems for Nigerian firms.

- by Dr Peterson K Ozili
- •
- Business, Management, Business Administration, Finance
- by Piman Limpaphayom
- •
- Finance, Econometrics, Accounting, Corporate Governance

An important normative theory in economics is that all markets are perfect-perfect in the sense that "prices" in a market should be set by balancing "demand" against "supply". Certainly, this is a desirable theory, by reducing government interference in pricing in a market to leave economic interactions as principal forces-particularly so in financial markets. But in reality, this desirable theory does not do away with government regulation, because markets can be corrupted or misused (and this has sometimes been called "market imperfections"). Empirically in economic history, money has sometimes been made by economic agents in a market through using corruption or misuse of market forces. Thus, as an empirical reality in economic systems, the need for regulation always exists. This research analyzes an actual case of market corruption on an international scale, the Wirecard scandal. We analyze this empirical case to expand regulatory theory by investigating the kind of roles needed to be played by some market forces (e.g. government regulators, corporate auditors, and financial reporters) in order for "imperfections" of financial markets to be avoided or corrected.

The primary purpose of this research is to examine the effect of Non-Performing Loans (NPLs) on the profitability of universal banks in Ghana. The study is focused on the effect of non-performing loans on return on assets and return on equity of universal banks in Ghana. The study uses quarterly time series data collected by Bank of Ghana on all universal banks operating in the banking sector for the period 2007-2018. The multiple regression technique is used to analyse the models developed. The study reveals that non-performing loans have a significant negative effect on return on equity of universal banks in Ghana. The study also reveals a significant negative relationship between non-performing loans ratio and return on asset. The study recommends an improvement in the profitability of universal banks by reducing non-performing loans in individual banks. Universal banks must improve their loan monitoring strategies and manage their loan risk exposure to customers. The study recommends an improvement of the regulatory system of the central bank. Appropriate guidelines must be instituted by the central bank to prevent universal banks from advancing loans to customers with high credit risk.

- by Moses Dunyoh and +1
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- External and Internal Auditing, Tax Planning, Working Capital Management, Corporate Governance and Financial reporting

Діяльність Національної академії педагогічних наук України у 2020 р. спрямовувалася на теоретико-методологічне й науково-методичне забезпечення функціонування та розвитку національної системи освіти відповідно до пріоритетів державної освітньо-наукової політики, визначених стратегічними і програмними документами. У виданні представлено результати роботи академії, її підвідомчих установ, колективів вчених, дійсних членів і членів-кореспондентів. Охарактеризовано виконання статутних завдань НАПН України та розкрито кадровий потенціал установ. Наведено найвагоміші наукові здобутки вчених академії за результатами виконання фундаментальних і прикладних досліджень із зазначенням соціального ефекту впровадження. Представлено роботу загальних зборів і методологічних семінарів, а також Президії НАПН України. Всебічно висвітлено експериментальну, видавничу, науково-організаційну, науково-експертну, освітню, міжнародну, науково-інформаційну діяльність, співпрацю з органами державної влади і на...

The main objective of this study is to find out the effects of board
characteristics on firm performance in the listed companies of non-banking financial institutions industry of Bangladesh. This study has considered five board characteristics namely board size, the proportion of independent directors, the proportion of female directors, the number of board meetings and percentage of directors’ ownership. ROA has been taken as the performance indicator. The regression results show that board size and female directors are positively and significantly related to firm performance. On the other hand the proportion of independent directors, the number of board meetings and the percentage of directors’ ownership do not have any significant impact on firm performance. The findings of this study will help the regulators and policymakers to understand the existing weakness of corporate governance structure in the financial institution industry and will aid in their quest for harmonizing the practice of corporate governance of Bangladesh with that of developed countries.

- by Raihan Sobhan
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- Accounting, Bangladesh, Financial Institutions, Profitability