May board committees reduce the probability of financial distress? A survival analysis on Italian listed companies

Lagasio, Valentina; Brogi, Marina; Gallucci, Carmen; Santulli, Rosalia

doi:10.1016/j.irfa.2023.102561

Cited by 5 publications

(8 citation statements)

References 57 publications

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“…Conyon and Peck (1998) say that companies that have a remuneration committee will align top management salaries with company performance, which will support the relationship between high remuneration and high performance. This is in line with research by Lagasio et al (2023), who found that nomination and remuneration committees that hold frequent meetings with a high presence of non-executive directors can avoid adverse financial conditions. We found no other research that examined nomination and remuneration committee meetings directly.…”

Section: Number Of Members and Frequency Of Meetings Nomination And R...supporting

confidence: 91%

Section: 2mentioning

confidence: 99%

“…Non-executive (independent) members of the remuneration committee can reduce agency problems (Lagasio et al, 2023). Lagasio et al (2023) stated that non-executive directors can actually design remuneration schemes that better align the interests of management and shareholders compared to executive members, who may be driven by personal interests. This is supported by Fulgence et al (2023), who found that companies whose CEO and chief financial officer (CFO) were involved in remuneration or nomination committees disclosed less corporate governance information.…”

Section: 2mentioning

confidence: 99%

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Nomination and remuneration committee: a review of literature

Putra,

Setiawan

2024

JCMS

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PurposeThis paper aims to synthesize the diverse literature on nomination and remuneration committees and provide avenues for future research.Design/methodology/approachThis study provides a comprehensive literature review of theoretical and empirical studies published in reputable international journals indexed by Scopus.FindingsThe literature review reveals several aspects of the nomination and remuneration committee. These aspects have been classified into the definition of the nomination and remuneration committee, dimensions of the nomination and remuneration committee, measurement and research review results, reasons for conflict empirical findings, company dynamics and research on moderators, as well as recommending future research.Research limitations/implicationsOur literature review shows that nomination and remuneration committees play a role in improving board performance and company performance, reducing agency conflicts and improving corporate governance to provide implications for companies, regulators and investors and pave the way for future research.Originality/valueThis paper identifies issues related to nomination and remuneration committees, their theoretical and practical implications and avenues for future research.

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Section: Number Of Members and Frequency Of Meetings Nomination And R...supporting

confidence: 91%

Section: 2mentioning

confidence: 99%

Section: 2mentioning

confidence: 99%

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Nomination and remuneration committee: a review of literature

Putra,

Setiawan

2024

JCMS

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“…15 (Sun et al, 2022) In order to create MFDP models, this study develops an improved decision-directed acyclic graph (IDDAG) fusion based approach on maximising generalisation ability and integrates it with the one versus one (OVO) decomposition method.(OVO-IDDAG). 16 (Lagasio et al, 2023) This paper study the effect of the composition and functioning of board committees on firms financial distress. 17 (Nurhayati et al, 2022) This study explored with used Altman modified Z Score, Springate and Zmijewski techniques to assess how well healthcare sub-sector organisations can predict their financial difficulties.…”

Section: Tree Mapmentioning

confidence: 99%

Exploring Trends and Advancements in Financial Distress Prediction Research: A Bibliometric Study

Sethi,

Mahadik,

Bilolikar

2024

IJEFI

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Due to the growing complexity and unpredictability of contemporary markets as evidenced by the financial crisis of the past ten years, the field of financial distress prediction (FDP) research is receiving more attention. For creditors, investors, and other stakeholders to make well-informed decisions on their financial relationships with a given entity, financial distress prediction is essential. This paper identified the risk indicators that are the cause of financial distress and latest tools and methods to predict financial distress with identifying the risk management strategies for eradicate the distress condition. In this context, this study explores the landscape of the literature published in this area. We have used systematic and bibliometric approach for studying the existing literature. For the study, we have collected articles from the Scopus database for the period 1985 to 2022. Science mapping technique has been used for the analysis data has been conducted with the help of Vosviewer and Biblioshiny software. Various important component of a literature review like most relevant authors, most relevant sources, keywords co-occurrence network, thematic analysis and others have been explored. The study will help the scholars and future researchers in getting a comprehensive understanding and insights in the concerned field and add to the existing body of literature.

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“…The Altman Z score measures the likelihood of a firm to be bankrupt and can be used to capture the financial distress faced by a firm (Altman 1968). Firms facing more financial distress normally have higher financial vulnerability (Lagasio et al 2023). Thus, we use the Altman (1968) Z-score as an additional measure of the financial vulnerability of a firm.…”

Section: Equity Ratio (Fv Er )mentioning

confidence: 99%

The Joint Forces of How to Live: Does Intellectual Capital Matter between Innovation and Financial Vulnerability?

Ahmed,

Qiu,

Zhao

2024

JRFM

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Using a hand-collected sample of non-financial firms listed on the Pakistan Stock Exchange (PSX) over the period of 2011–2021, we examine the joint effect of intellectual capital and innovation on the financial vulnerability of a firm, which is an important risk factor that a firm may face in its operation. We first use the static fixed-effect panel model as our baseline regression model and find that the level of intellectual capital of a firm strengthens the positive effect of the adoption of product and market innovation on reducing the financial vulnerability of the firm. We also conduct additional analyses using alternative measures of financial vulnerability, as well as various regression models, and confirm that the results are robust under different scenarios. Overall, the results highlight the positive role of the intellectual capital, as well as the joint effect of intellectual capital and innovation, in mitigating the financial vulnerability faced by a firm and thus have academic and practical implications to academic researchers and practitioners.

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May board committees reduce the probability of financial distress? A survival analysis on Italian listed companies

Cited by 5 publications

References 57 publications

Nomination and remuneration committee: a review of literature

Nomination and remuneration committee: a review of literature

Exploring Trends and Advancements in Financial Distress Prediction Research: A Bibliometric Study

The Joint Forces of How to Live: Does Intellectual Capital Matter between Innovation and Financial Vulnerability?

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