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Risk Management and Corporate Governance : The Importance of Independence and Financial Knowledge for the Board and the Audit Committee
Dionne, Georges - 2005
The new NYSE rules for corporate governance require the audit committee to discuss and review the firm's risk assessment and hedging strategies. They also put additional requirements for the composition and the financial knowledge of the directors sitting on the board and on the audit committee....
Persistent link: https://www.econbiz.de/10012736391
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The Governance of Risk Management : The Importance of Directors’ Independence and Financial Knowledge
Dionne, Georges - 2019
This paper tests the effects of the independence and financial knowledge of directors on risk management and firm value in the gold mining industry. Our original hand-collected database on directors' financial education, accounting background, and financial experience allows us to test the...
Persistent link: https://www.econbiz.de/10012870386
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The Evolving Contours of the Board's Risk Management Function in UK Corporate Governance
Moore, Marc T. - 2010
The well-documented banking company failures that occurred in the UK over 2007 and 2008 have enhanced the importance and scope of the risk management function performed by boards. It is consequently a universal expectation of non-executive directors (NEDs) today that they provide high-level...
Persistent link: https://www.econbiz.de/10013136764
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Board Risk Oversight : What Knowledge & Skills Do Directors Need?
Gupta, Parveen P. - 2018
This article provides an overview of the risk oversight knowledge and skills required to equip directors to better drive value creation, prevent significant corporate value erosion and perhaps most importantly, help directors protect their personal reputations as guardians of stakeholder interests
Persistent link: https://www.econbiz.de/10012929178
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Why do bank boards have risk committees?
Stulz, René M.; Tompkins, James; Williamson, Rohan; … - 2021
We develop a theory of bank board risk committees. With this theory, such committees are valuable even though there is no expectation that bank risk is lower if the bank has a well-functioning risk committee. As predicted by our theory (1) many large and complex banks voluntarily chose to have a...
Persistent link: https://www.econbiz.de/10012816376
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Corporate Governance : The Role of Non-Executive Directors and an International Perspective
Alam, Faisul - 2016
The corporate governance is main requirement of corporate business in all over the world. It is the system by which companies are directed and controlled. The board of directors consist of the people who are responsible for directing the company towards success keeping in mind various factors....
Persistent link: https://www.econbiz.de/10013008569
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Centro and the Monitoring Board – Legal Duties Versus Aspirational Ideals in Corporate Governance
Hill, Jennifer G. - 2020
commercial and legal effects, including in the area of directors' liability.One decision highlighting the potential dangers for … directors in this regard is ASIC v Healey (2011) 196 FCR 291) ('Centro liability decision'), an Australian decision concerning …'. This article explores an apparent incongruity between the Centro liability decision, which has been criticized for its …
Persistent link: https://www.econbiz.de/10012857195
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Increased Board Independence Requirement and its Impact on Governance Inputs, Board Busyness, and Firm Performance
Wang, Chen - 2015
In response to the Sarbanes-Oxley Act and stock exchange regulation, firms are forced to increase their board independence level if they did not satisfy the requirements. This article empirically examines the impact of increased board independence requirements on the governance inputs, board...
Persistent link: https://www.econbiz.de/10013026931
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Does Independent Board of Directors Really Make a Difference? Evaluating the Treatment Effects of Increased Board Independence Requirements on Corporate Performance
Wang, Chen - 2014
In 2002, President George W. Bush signed the "Sarbanes-Oxley Act” into federal law, which increased the oversight role for independent directors. The induced consequence was that firms which did not satisfy the requirements of the regulation must improve their board independence level. This...
Persistent link: https://www.econbiz.de/10013040606
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How Many Female Seats on a Board? Board Gender-Diversification, Power, Risk-Taking, and Financial Performance
Wabara, Kingsley - 2023
Using quasi-natural experiments, we study how directors’ relative power or influence modulates the effects of board gender diversity. At low levels of influence, female directors have no significant impact on firm risk-taking and financial performance. However, as their influence increases...
Persistent link: https://www.econbiz.de/10014265131