This paper develops a Walrasian general equilibrium model based on transaction cost and specialization to investigate the emergence and evolution of the role of management services in a competitive market with the general concern of corporate governance. It explains the reason why along the commercialization and modernization of human society, there is substantial increment of professional mana...

An effective risk management process enables a bank‘s management to measure and monitor risk, generate credible data, use sophisticated tools and provide fair value estimates, potentially of higher quality. Although the actual risk management process is unobservable to outsiders, disclosure relating to the risk management activities and corporate governance that monitors it reveals its effectiv...

The global pursuit of a more sustainable future cannot be achieved without the active engagement of the business community. The challenge for business has been to strategically engage with and embed environmental responsibility within their wider corporate governance; to create effective corporate governance of the environment. The assumption would appear to be, that we have already witnessed t...

This paper explores whether investor sentiment has an adverse impact on corporate investment decisions and whether such impact, if present, can be effectively mitigated by sound corporate governance mechanisms. The sample comprises listed firms in Taiwan between 2003 and 2010. Empirical results indicate that investor sentiment is significantly and positively related to amount of new investment ...

The vast majority of research on the relationship between corporate governance and strategic management focuses on the impact of corporate governance on strategic management. In this article we propose a cyclical model, highlighting that strategic decisions can also affect corporate governance through shaping firm ownership structure. We discuss the impacts of strategic decisions on firm owners...

In recent years, there has been a virtual explosion of interest in corporate go ernance. Corporate scandals and the need to protect minority shareholders’ interests are two of the reasons behind the development of corporate governance codes in numerous countries and corporations. At the same time, the concepts of “sustainable development”, “corporate responsibility”, and “corporate citizenship”...

Historically, non-financial data, including corporate governance, was not considered in mainstream equity valuation methodologies, analysis and investments. However, past as well as recent corporate scandals have led to a rising acknowledgement within the investor community that governance factors may have the potential to affect corporate performance and by extension corporate valuation. And a...

E-governance can play a vital role in socio-economic development of a country by reducing corruption and strengthening democracy. Developing countries like Bangladesh are facing a lot of challenges to establish good governance. E-governance could be a good solution through which government can facilitate an efficient, speedy and transparent process for performing government administrative activ...