Corporate Law and Governance Review

Journal Information
ISSN / EISSN : 2707-1111 / 2664-1542
Current Publisher: Virtus Interpress (10.22495)
Total articles ≅ 20
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Corporate Law and Governance Review; doi:10.22495/clgr

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Alexander Dilger, Ute Schottmüller-Einwag
Corporate Law and Governance Review, Volume 2, pp 18-32; doi:10.22495/clgrv2i2p2

Abstract:
We examine how corporate governance reporting corresponds to actual conduct regarding severance payment caps for prematurely departing members of executive boards in Germany. Firstly, we evaluate the declarations of conformity for all companies listed in the CDAX between 2010 and 2014, which we use to determine conformity and deviation rates, and analyse the reasons for deviation, contributing to current research on comparative corporate governance, which focuses on when, why and how companies deviate from legitimate corporate governance goals (Aguilera, Judge, & Terjesen, 2018). Secondly, we assess the compensation amounts of all severance payments made and published by DAX companies to compare the respective severance ratio with the cap recommended by the German Corporate Governance Code (GCGC). We find that more than 20% of companies listed in the CDAX declared deviation in the declaration of conformity. Moreover, in 57% of actual severance cases where DAX companies had previously declared their conformity, the cap was exceeded. Yet, none of the companies that had exceeded the cap disclosed this in the following declaration of conformity. In most cases, the corporate reports deviated from reality and therefore could not serve as a suitable basis for decisions by the capital market.
Abdelkader Derbali, Lamia Jamel, Ali Lamouchi, Ahmed K Elnagar, Monia Ben Ltaifa
Corporate Law and Governance Review, Volume 2, pp 8-17; doi:10.22495/clgrv2i2p1

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José Vaz Ferreira
Corporate Law and Governance Review, Volume 2, pp 4-6; doi:10.22495/clgrv2i1editorial

Abstract:
Nowadays, corporate governance is a classic subject of discussion for policymakers and academic researchers worldwide. The interest of this research topic may be explained for the increased demand for continuous improvement and transparency in the board of directors and contributing to the previous research by Ravaonorohanta (2020), Hassan, Karbhari, Mohamad Isa, and Ab Razak (2017), Bianchi Martini, Corvino, and Rigolini (2012), Kyereboah-Coleman and Biekpe (2006), Davidson and Rowe (2004), and Kostyuk (2003).
Inês Lisboa, Maria Clara Guilherme, Nuno Teixeira
Corporate Law and Governance Review, Volume 2, pp 42-54; doi:10.22495/clgrv2i1p4

Abstract:
Corporate governance is not a new topic but has become more relevant in the last years due to the financial crisis of 2008, when diverse companies went to bankruptcy, and investor’s protection was weakened. Thus, diverse countries have revised corporate governance mechanisms and recommendations to restore the confidence of investors and the transparency of companies’ financial reports. This work aims to explain the evolution of corporate governance practices in Portugal. We provide information on corporate governance’ legal framework. Then we explain ownership structures and board of directors’ and directors’ remuneration practices. Shareholders’ rights and activism are also explained. Finally, we linked the topic of corporate governance and companies’ performance and social responsibility. This work contributes to increasing literature review on corporate governance practices, by presenting the evolution of corporate governance practices in a specific country, Portugal.
Martha Okigbo, Mahmood Bagheri
Corporate Law and Governance Review, Volume 2, pp 27-41; doi:10.22495/clgrv2i1p3

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Hugh Grove, Mac Clouse, Tracy Xu
Corporate Law and Governance Review, Volume 2, pp 18-26; doi:10.22495/clgrv2i1p2

Abstract:
The key research question of this paper is to explore the major implications for corporate governance from the emergence of long-term stockholder and stakeholder value perspectives for the purpose of a corporation. The major implication for corporate governance is the significant opportunity for boards of directors to play a vital role in helping companies create long-term sustainable value. An initial step is to develop a clear understanding of the company’s business strategy and how long-term value is created through innovation and deployment of resources. Boards of directors need to understand what really creates long-term value in their companies and then make sure their companies develop ways to measure and manage such value in order to be able to “govern like owners” and fulfill their fiduciary roles. To facilitate this fiduciary role, McKinsey & Company’s Corporate Horizon Index with its five key indicators, investment, earnings quality, margin growth, quarterly management, and earnings-per-share growth, and their related hypotheses and measurement approaches can be used as a roadmap.
Tshegofatso Kgarabjang
Corporate Law and Governance Review, Volume 2, pp 8-17; doi:10.22495/clgrv2i1p1

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Bashar Malkawi
Corporate Law and Governance Review, Volume 1, pp 4-6; doi:10.22495/clgrv1i2_editorial

Abstract:
Corporate social responsibility is still an emerging issue both for practice and research. There are many researchers who investigated this issue in details with regard to various factors including industry, country, culture, company size, etc. (Trong Tuan, 2012; Khan, 2010; Silberhorn & Warren, 2007). This issue of the journal contributed enough to the results of previous research and outlined horizons for future research too
Khaled Otman
Corporate Law and Governance Review, Volume 1, pp 62-73; doi:10.22495/clgrv1i2p6

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