Corporate Governance Theories in the New Institutional Economics Perspective. The Classification of Theoretical Concepts

Klepczarek, Emilia

doi:10.26485/spe/2017/105/14

Cited by 5 publications

(8 citation statements)

References 18 publications

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“…This notion brings stakeholders theory to a more prominent position, where all stakeholders' interest has been considered and acknowledged. This theory refers to dealing with all stakeholders on a more fair basis (Harrison et al, 2015;Klepczarek, 2017). Fig.…”

Section: B Stakeholder Theorymentioning

confidence: 99%

“…Resource dependence theory is the study of how the external environmental resources of organizations affect the behavior of the organization. The basic proposition of this theory is based on creating links between the firm and the external environment, directors are responsible to match the changing environment trends with the firm capabilities (Klepczarek, 2017;Yusoff & Alhaji, 2014).…”

Section: Resource Dependence Theorymentioning

confidence: 99%

“…This theory assumes that the managers will be always work in the best interest of the firm, they will protect and make profits for shareholders. The success of the firm tightly encompasses management commitment and when the shareholder's wealth will be maximized, the stewards will be also benefited in terms of remunerations (Abdullah & Benedict, 2009;Klepczarek, 2017;Yusoff & Alhaji, 2014).…”

Section: Stewardship Theorymentioning

confidence: 99%

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Review of Corporate Governance Theories

Younas

2022

EJBMR

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Corporate governance is a mechanism in which conflict of interest between managers and shareholders is managed and controlled. From the perspective of stakeholders’ numerous theories have been proposed and emerged from different perspectives to offer solutions to these conflicts and reduce conflicts among the stakeholders. This paper talk about corporate governance theories to improve the mechanism of corporate governance understanding from different stakeholders’ perspectives.

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Section: B Stakeholder Theorymentioning

confidence: 99%

Section: Resource Dependence Theorymentioning

confidence: 99%

Section: Stewardship Theorymentioning

confidence: 99%

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Review of Corporate Governance Theories

Younas

2022

EJBMR

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“…the agency and stewardship theory, resource dependency theory, managerial hegemony theory, transaction costs theory, theory of contracts) for justifying the relation between CG and earnings quality. These theories concentrate on rational/opportunistic economic motives, self-interestedness and formal structures solely (Klepczarek, 2017). But, these perspectives may not be able to fully explain the aforementioned association, and hence the consideration of the new theoretical frameworks, such as behavioral theory, may be necessary (VanEes et al , 2009; Huse et al , 2011).…”

Section: Introductionmentioning

confidence: 99%

“…In this case, we depart from the restrictive theories (e.g. the agency and stewardship theory, resource dependency theory, transaction costs theory, theory of contracts) that are supported by formal CG mechanisms and managerial motivations for opportunistic behavior (Klepczarek, 2017).…”

Section: Introductionmentioning

confidence: 99%

Corporate governance and earnings quality: the behavioral theory of corporate governance (evidence from Iran)

Rezaee

Safarzadeh

2022

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Purpose This study aims to examine the relationship between corporate governance (CG) and various measures of earnings quality in listed companies on Tehran Stock Exchange (TSE). The theoretical intuition for prediction of any relationship between earnings quality and CG is based on the behavioral theory and the institutional settings in Iran. Design/methodology/approach This study used the data of 117 listed companies on the TSE for the period from 2005 to 2019. The authors use panel data regression as the main methodology, along with principal component analysis, t-test and rank-sum test. Findings This study finds that the CG has a positive association with earnings quality. More precisely, better CG mechanisms cause lower earnings smoothness, more predictable and persistent earnings, and higher levels of timeliness, conservatism and value relevance. The relationship between CG and earnings quality is statistically and economically significant for all models. Originality/value The findings further the understanding of the role of CG in improving earnings quality in an Islamic and emerging country. First, this study provides evidence on the relation between CG and earnings quality by focusing on the behavioral theory, which suggests that corporate decision-making is not only influenced by formal CG mechanisms, but also by informal CG arrangements. In this case, this study departs from the restrictive theories (specifically, agency theory) that are widely used in past literature. Second, this study constructs an index that fits to corporate context of Iran rather than applying indexes introduced in Anglo-American environments.

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Does the presence of governance structure affect small and medium-sized enterprise performance? Evidence from an emerging market

Jnr.¹,

Asamoah²

2020

EBER

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The objective of the article is to determine the effect of governance structure components (audit committee presence, board size adequacy, and board leadership) on SMEs' performance and the moderating effect of chief executive officer (CEO) tenure on the influence of governance structure on SMEs' performance in Ghanaian context. Research Design & Methods: We sampled 145 respondents from selected SMEs in the Ghanaian manufacturing, telecommunication, and financial sectors for the study. All selected participants completed questionnaires on governance structure and shared their informed perception of the enterprises' performance. The data gathered were analysed using multiple regression analysis and Hayes' process macro. Findings: The results indicated that board leadership, the presence of an audit committee, and board size adequacy do not significantly influence SMEs' performance. The results further revealed that CEO tenure is a significant negative moderator to the influence of the governance structure on SMEs' performance. Implications & Recommendations: Future studies must focus on how SMEs in Ghana can put CEOs and board succession plans in place so as to ensure creativity/innovation. Contribution & Value Added: This study contributes to the body of knowledge relating to the governance structure's influence on various indicators of business performance of SMEs in Ghana. Therefore, this study sought to assess the contribution of corporate governance structures to the performance of SMEs in Ghana. This would help SMEs to know which aspects of their governance structure should be strengthened to effectively contribute to their success. Article type:research article

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Corporate Governance Theories in the New Institutional Economics Perspective. The Classification of Theoretical Concepts

Cited by 5 publications

References 18 publications

Review of Corporate Governance Theories

Review of Corporate Governance Theories

Corporate governance and earnings quality: the behavioral theory of corporate governance (evidence from Iran)

Does the presence of governance structure affect small and medium-sized enterprise performance? Evidence from an emerging market

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