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... International directors might be autonomous on the off chance that they have no presence affecting their dynamic freedom (Conyon, 2009). On a fundamental level, a huge extent of international directors on the board are contended from a business perspective to energize the freedom of the board and shield proprietor's capital from the irreconcilable situations due to the organizational conflicts (Shleifer & Vishny, 1997). ...

The goal of this study is to investigate the financial performance of listed Pharmaceutical companies in Pakistan impacted by different board characteristics. These board characteristics are discussed through two theories: agency theory and resource dependency theory. The understudy characteristics include research & development, independent board directors, leverage, CEO/Chair duality, board size and audit committee. The paper used panel regression analysis on eleven (11) firms from a period of 2010 to 2019. The study findings postulate that investment in research & development and audit committee have a significant and positive impact on the performance of firms as per the agency theory. Whereas the characteristics like independent directors, CEO duality, leverage and board size have a negative impact on the performance of the firms. The study helps to clarify the Board's performance relationship and offers academic proof of existing and future governance changes for policymakers in Pakistan. The conclusions add to the literature by presenting fresh and original perspectives into how the existing knowledge of corporate governance and financial performance is applied within a developing context of organizations in Pakistan.

... En Europa Continental, principalmente en Alemania, es empleada por requerimiento una Junta Directiva de dos niveles (Conyon, 2009;Payne, 2006). La junta directiva se divide en la mesa de management y la mesa de supervisión (Klaus, 1997;Werder & Talailicar, 2011). ...

En los últimos 25 años el sector financiero, y en especial, en el subsector bancario, se han presentado grandes cambios organizacionales, en parte como consecuencia de cambios sectoriales internacionales y por cambios institucionales inducidos por el Estado colombiano. El gobierno corporativo y su proceso de implantación en los bancos del país, ha generado grandes efectos sobre la gestión en el sector. La presente investigación es realiza una estructuración del concepto de gobierno corporativo, a través del estudio del caso de Bancolombia, la principal organización del sector. En él se analizaron temas relacionados con productos, clientes y trabajadores, gobierno corporativo y los mecanismos de definición de las relaciones entre los propietarios de la empresa y los trabajadores del más alto nivel.

  • Jacques Coertze Jacques Coertze
  • Rossouw von Solms

This paper conceptually explores the existing IT governance literature and reveals that the concept remains an evolving and 'murky' phenomenon. Specifically, it highlights that as IT governance continues to evolve, it emerges in ever-new forms with increasing complexity and confusion. This is especially true, when studying the various differing definitions and terms applied within current literature and the nature and breadth of discussion. Even more so, when taking into account the whirlpool of standards and best practices currently operating within this domain. All of this leads to a lack of clarity, having the potential to confuse and possibly impede useful development and research in the field. Using content analysis, argumentation and modelling, this paper sets out to review and model a possible reform to the IT governance landscape. Hereby, it aims to offer much-needed clarity, provide a frame of reference and guide future research in the field. Keywords—corporate governance, operational IT governance, board IT governance, corporate governance of IT, enterprise governance of IT, COBIT 5, ISO/IEC 38500, King III, ITIL.

Manuscript Type: Empirical Research Question/Issue: We examine whether director interlocks enable or inhibit a firm's adoption of a proactive environmental strategy. Specifically, using resource dependence theory, we argue that director interlocks with suppliers are linked to varying likelihoods that a firm adopts a proactive environmental strategy, depending on the relation between the provided resources and the environmental approach. Research Findings/Insight: Based on a sample of US electric firms, our results show that director interlocks with firms providing knowledge-intensive business services are positively linked to the adoption of proactive environmental strategies. However, director interlocks with firms providing financial resources and fossil fuel are negatively related to the adoption of these strategies for our sample. Theoretical/Academic Implications: Board linkages may enable and inhibit proactive environmental strategies. We contribute to resource dependence theory by offering empirical evidence that the reduction of uncertainty about critical resources by director interlocks may either make business change easier or constrict a firm's autonomy, making change more difficult. Practitioner/Policy Implications: The influence of interlocking directors varies depending on the type of resources that director interlocks transfer to their organizations. As a result, the selection of specific director interlocks can become very important to the strategic goals of the firm. Regulators should continue to pay attention to potential risks for other stakeholders from director interlocks.

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