WorldWideScience

Sample records for corporate risk management

  1. Corporate risk management : an overview

    NARCIS (Netherlands)

    Oosterhof, Casper M.

    2001-01-01

    Corporate risk management and hedging are important activities within financial as well as non-financial corporations. Under the assumptions of Modigliani and Miller [1958], corporate risk management is a redundant activity. However, the existence of market imperfections can explain the corporate

  2. Risk management and corporate value

    Directory of Open Access Journals (Sweden)

    Milan Cupic

    2015-12-01

    Full Text Available The paper presents a theoretical framework for assessing the impact of risk management on corporate value. As the relevant factors that determine this impact, the paper analyzes market imperfections and investors’ risk aversion. The results of the present research indicate that risk management contributes to an increase in corporate value if, under the influence of market imperfections, corporate risk exposure is concave. As an expression of market imperfections, the paper analyzes the costs of financial distress, agency costs, and taxation. The results of the research also indicate that the risk management policy should not aim to minimize, but rather optimize risk exposure, by taking into account the costs of risk management, investors’ risk aversion and the competitive advantage a corporation has on the relevant market.

  3. Strategic Risk Management and Corporate Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

    Major corporate failures, periodic recessions, regional debt crises and volatile markets have intensified the focus on corporate risk management as the means to deal better with turbulent business conditions. Hence, the ability to respond effectively to the often dramatic environmental changes...... is considered an important source of competitive advantage. However, surprisingly little research has analyzed if the presumed advantages of effective risk management lead to superior performance or assessed important antecedents of effective risk management capabilities. Here we present a comprehensive study...... of risk management effectiveness and the relationship to corporate performance based on panel data for more than 3,400 firms accounting for over 33,500 annual observations during the turbulent period 1991-2010. Determining effective risk management as the ability to reduce earnings and cash flow...

  4. Role of the Occupational Physician in Corporate Management of Health Risks: An Important Aspect of Corporate Social Responsibility (CSR).

    Science.gov (United States)

    Sugita, Minoru; Miyakawa, Michiko

    2016-01-01

    There are various risks involved in corporate activities conducted both within and outside the corporation. Among these, health risks are very important and should be managed effectively as an integral part of corporate social responsibility (CSR). A corporation is responsible for health impairments caused by its activities and suffers great moral and economic loss when they occur. It is essential that corporate management takes proper preventive measures against such risks. Occupational physicians possess substantial knowledge of health risks in corporations. In this study, we examine the role of occupational physicians in the management of corporate health risks. Information was obtained from articles in print and on the Internet. Health risks due to corporate activities involve not only the employees of the corporation but also individuals outside the corporation. Each corporation should effectively use available resources to manage health risks. Occupational physicians are one such valuable resource. However, many corporations do not actively involve occupational physicians in health risk management. According to a current Japanese law, health risks for employees in corporations are managed by occupational physicians, but in general, health risks outside corporations are not. The 1984 Bhopal Disaster in India is an example in which physicians of the corporation were only minimally, if at all, involved in assessing and treating impaired health outside the corporation. The role of occupational physicians should be expanded to include management of health risks outside the corporation. This places a greater burden on the physicians and they must make the effort to train in many academic fields in order to better understand the entire context of health risks due to corporate activities. Some occupational physicians may be hesitant to take on such added responsibilities. Some corporations may not recognize the overall health risks due to its activities and do not

  5. Managing total corporate electricity/energy market risks

    International Nuclear Information System (INIS)

    Henney, A.; Keers, G.

    1998-01-01

    The banking industry has developed a tool kit of very useful value at risk techniques for hedging risk, but these techniques must be adapted to the special complexities of the electricity market. This paper starts with a short history of the use of value-at-risk (VAR) techniques in banking risk management and then examines the specific and, in many instances, complex risk management challenges faced by electric companies from the behavior of prices in electricity markets and from the character of generation and electric retailing risks. The third section describes the main methods for making VAR calculations along with an analysis of their suitability for analyzing the risks of electricity portfolios and the case for using profit at risk and downside risk as measures of risk. The final section draws the threads together and explains how to look at managing total corporate electricity market risk, which is a big step toward managing total corporate energy market risk

  6. The nuclear power corporation's foreign exchange risk management research

    International Nuclear Information System (INIS)

    Zhang Yi

    2012-01-01

    To manage and control foreign exchange rate risk under the floating exchange rate system, historical simulation method of VaR model has been utilized to evaluate the nuclear power corporation's foreign exchange risk and the risk causation has been analyzed. Finally, the measure of enhancing the nuclear power corporation's foreign exchange rate risk management level has been exposed for sharing. (author)

  7. Stakeholder Versus Shareholder Satisfaction in Corporate Risk Management

    DEFF Research Database (Denmark)

    Aabo, Tom

    Inherent in corporate governance is the conflict between satisfying stakeholders in general and satisfying shareholders in particular. This empirical study of Danish non-financial companies enhances the understanding of the interaction between corporate risk management and corporate governance...

  8. TELAAH ENTERPRISE RISK MANAGEMENT MELALUI CORPORATE GOVERNANCE DAN KONSENTRASI KEPEMILIKAN

    Directory of Open Access Journals (Sweden)

    Daniel T H Manurung

    2016-12-01

    Full Text Available Abstract: Assessing Enterprise Risk Management through Corporate Governance and Ownership Concentration. The purpose of this research is to determine the influence of corporate governance and concentrated of ownership with enterprise risk management. This research uses multiple regression analysis as a testing tool. The sample that is used in this study is 50 manufacturing companies which is listed in the Indonesia Stock Exchange. The year that is used as the basis of sampling is 2013-2014. The result of this reseacrh is a significant effect on corporate governance in Enterprise risk management. While, variable of concentration of ownership has no significant influence in enterprise risk management.

  9. Analysis of the effect of corporate governance attributes on risk management practices

    Directory of Open Access Journals (Sweden)

    Raef Gouiaa

    2018-03-01

    Full Text Available Despite recent increased risk research attention being focussed on the Canadian and international scene, there are few research studies that specifically address the relation between corporate governance systems and risk management practices. This paper examines the relation between corporate governance systems and enterprise risk management. More specifically, we analyze how corporate governance attributes and particularly board characteristics can affect risk management practices in the context of Canadian listed companies. Using a content analysis approach, the level of exposure to risk in terms of likelihood, the consequences of such risk and the strategies for managing that risk were identified for each type of risk. The results reveal that corporate governance attributes related to board’s structure, directors’ characteristics and the board's operating process play a significant and important role in establishing an integrative risk management approach. The results show that directors’ characteristics and the board's process significantly determine the quality of risk management through the level of risk-taking in decisions, especially in terms of financial risks.

  10. Corporate Risk Disclosure and Corporate Governance

    Directory of Open Access Journals (Sweden)

    Kaouthar Lajili

    2009-12-01

    Full Text Available To date, research which integrates corporate governance and risk management has been limited. Yet, risk exposure and management are increasingly becoming the core function of modern business enterprises in various sectors and industries domestically and globally. Risk identification and management are crucial in any business strategy design and implementation. From the investors’ point of view, knowledge of the risk profile, risk appetite and risk management are key elements in making sound portfolio investment decisions. This paper examines the relationships between corporate governance mechanisms and risk disclosure behavior using a sample of Canadian publicly-traded companies (TSX 230. Results show that Canadian public companies are more likely to disclose risk management information over and above the mandatory risk disclosures, if they are larger in size and if their boards of directors have more independent members. Minority voting control ownership structures appear to negatively impact risk disclosure and CEO incentive compensation shows mixed results. The paper concludes that more research is needed to further assess the impact of various governance mechanisms on corporate risk management and disclosure behavior.

  11. Managing corporate governance risks in a nonprofit health care organization.

    Science.gov (United States)

    Troyer, Glenn T; Brashear, Andrea D; Green, Kelly J

    2005-01-01

    Triggered by corporate scandals, there is increased oversight by governmental bodies and in part by the Sarbanes-Oxley Act of 2002. Corporations are developing corporate governance compliance initiatives to respond to the scrutiny of regulators, legislators, the general public and constituency groups such as investors. Due to state attorney general initiatives, new legislation and heightened oversight from the Internal Revenue Service, nonprofit entities are starting to share the media spotlight with their for-profit counterparts. These developments are changing nonprofit health care organizations as well as the traditional role of the risk manager. No longer is the risk manager focused solely on patients' welfare and safe passage through a complex delivery system. The risk manager must be aware of corporate practices within the organization that could allow the personal objectives of a few individuals to override the greater good of the community in which the nonprofit organization serves.

  12. Risk Management: Coordinating Corporate Investment and Financing Policies

    OpenAIRE

    Kenneth A. Froot; David S. Scharfstein; Jeremy C. Stein

    1992-01-01

    This paper develops a general framework for analyzing corporate risk management policies. We begin by observing that if external sources of finance are more costly to corporations than internally generated funds, there will typically be a benefit to hedging: hedging adds value to the extent that it helps ensure that a corporation has sufficient internal funds available to take advantage of attractive investment opportunities. We then argue that this simple observation has wide ranging implica...

  13. Risk management and corporate governance performance ...

    African Journals Online (AJOL)

    The study examines the relative effect of risk management and corporate governance on bank performance in Nigeria. The study utilizes both primary and secondary data. The primary data were collected using structured questionnaire that were administered in Four-hundred and eighty (480) employees of Wema Bank Plc ...

  14. TELAAH ENTERPRISE RISK MANAGEMENT MELALUI CORPORATE GOVERNANCE DAN KONSENTRASI KEPEMILIKAN

    OpenAIRE

    Daniel T H Manurung; R Wedi Rusmawan Kusumah

    2016-01-01

    Abstract: Assessing Enterprise Risk Management through Corporate Governance and Ownership Concentration. The purpose of this research is to determine the influence of corporate governance and concentrated of ownership with enterprise risk management. This research uses multiple regression analysis as a testing tool. The sample that is used in this study is 50 manufacturing companies which is listed in the Indonesia Stock Exchange. The year that is used as the basis of sampling is 2013-2014. ...

  15. 7 CFR 2.44 - Administrator, Risk Management Agency and Manager, Federal Crop Insurance Corporation.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Administrator, Risk Management Agency and Manager... Secretary for Farm and Foreign Agricultural Services to the Administrator, Risk Management Agency, and... for the transaction of the business of the Federal Crop Insurance Corporation and the Risk Management...

  16. Risk Management from Corporate and FM Perspectives: Two case studies

    DEFF Research Database (Denmark)

    Ünver, Kadir; Jensen, Per Anker

    2012-01-01

    Purpose: To investigate how Risk Management (RM) is perceived and practiced in Facilities Management (FM) and corporate management and to evaluate the potential benefits of an increased application. Theory: RM is a generic management discipline, but apparently it has not achieved the attention...... as most critical in each company. Both companies could benefit from a more integrated application of RM covering both corporate management and FM. Originality/value: This is among the first descriptive studies looking at RM from both corporate and FM perspectives, which is essential to increase...... it deserves in FM. Application of RM in FM could help to increase the strategic importance and awareness of FM among corporate managers. Approach: A preliminary study with expert interviews was initially conducted followed by a main study with an interview survey in two Danish case companies - a real estate...

  17. Does Corporate Governance Impact Risk Management System?

    Directory of Open Access Journals (Sweden)

    Petre BREZEANU

    2011-04-01

    Full Text Available This paper brings forth the contribution of corporate governance to risk management system at the enterprise level. The research is a complex one, integrating both quantitative and qualitative information. The quantitative information consists of balance sheet and profit and loss account data while the qualitative one includes dummy variables reflecting the agency and monitoring costs which govern the relationship between managers and shareholders.

  18. Strengthening the management of ESA - the Inter-Directorate Reform of Corporate and Risk Management

    Science.gov (United States)

    Feustel-Büechl, Jörg; Arend, Harald; Derio, Eric; Infante, Giovanni; Kreiner, Gerhard; Phaler, Jesse; Tabbert, Michael

    2007-02-01

    ESA has undertaken the Inter-Directorate Reform of Corporate and Risk Management to strengthen the Agency's internal operations. The reform was completed at the end of 2006, encompassing five dedicated projects on Risk Management, Agency-Wide Controlling System, Project Plan and Integrated Project Review, General Budget Structure and Charging Policy, and Corporate Information Systems. It has contributed to improved management of the Agency's internal operations by engaging all internal stakeholders in a common objective, introducing improvements to planning and management methods, elaborating consolidated information structures and tools, contributing to enhanced transparency and accountability, and by providing qualified new policies, processes and tools.

  19. The Reputation Crisis: Risk Management Based Logical Framework to the Corporate Sustainability

    OpenAIRE

    Yilmaz, Ayse Kucuk; Kucuk, Ferziye

    2010-01-01

    Risk is a constituent part of both the business and the society in which we survive. Reputation is valuable assest for corporates in sustainable way. Integrating risk management with strategy-setting, such as an enterprise risk management (ERM) approach, helps an organization manage its risks to protect and enhance enterprise value in three ways. First, it helps to establish sustainable competitive advantage. Second, it optimizes the cost of managing risk. Third, it helps management improve b...

  20. Comparison of risk management regulation from a corporate governance perspective within the German and united states legal areas

    Directory of Open Access Journals (Sweden)

    Remmer Sassen

    2014-11-01

    Full Text Available Risk management is one of the main corporate governance components or management tasks. This paper details a comparison of risk management regulation from a corporate governance perspective of listed stock corporations in Germany and the United States (U.S.. Obviously, there are differences and commonalities between the national legal norms and the regulatory levels of risk management in both countries. The comparison helps to understand different traditions and practices in terms of how significant corporate governance rules are for risk management. Therefore, this article intends to inspire future research on the regulation of risk management across different regions and explore the relevance of national interests in the regulation of risk management. A principal finding of the comparison is that the U.S. corporate governance system seems to be more strongly regulated than the German system. This results from the powerful and coordinating role of the U.S. Securities and Exchange Commission (SEC. Thus, the seemingly more liberal system of non-binding standards in the U.S. has a higher impact on the regulation of risk management than in Germany.

  1. Mitigating Corporate Water Risk: Financial Market Tools and Supply Management Strategies

    Directory of Open Access Journals (Sweden)

    Wendy M. Larson

    2012-10-01

    Full Text Available A decision framework for business water-risk response is proposed that considers financial instruments and supply management strategies. Based on available and emergent programmes, companies in the agricultural, commodities, and energy sectors may choose to hedge against financial risks by purchasing futures contracts or insurance products. These strategies address financial impacts such as revenue protection due to scarcity and disruption of direct operations or in the supply chain, but they do not directly serve to maintain available supplies to continue production. In contrast, companies can undertake actions in the watershed to enhance supply reliability and/or they can reduce demand to mitigate risk. Intermediate strategies such as purchasing of water rights or water trading involving financial transactions change the allocation of water but do not reduce overall watershed demand or increase water supply. The financial services industry is playing an increasingly important role, by considering how water risks impact decision making on corporate growth and market valuation, corporate creditworthiness, and bond rating. Risk assessment informed by Conditional Value-at-Risk (CVaR measures is described, and the role of the financial services industry is characterised. A corporate decision framework is discussed in the context of water resources management strategies under complex uncertainties.

  2. Corporate interest rate risk management with derivatives in Australia: empirical results

    Directory of Open Access Journals (Sweden)

    Luiz Augusto Ferreira Carneiro

    2008-04-01

    Full Text Available Financial and insurance theories explain that large widely-held corporations manage corporate risks if doing so is costective to reduce frictional costs such as taxes, agency costs and financial distress costs. A large number of previous empirical studies, most in the U.S., have tested the hypotheses underlying corporate risk management with financial derivative instruments. In order to quantify corporate hedge demand, most previous studies have used the ratio of principal notional amount of derivatives to company size, although they recognize that company size is not an appropriate proxy for financial risk. This paper analyzes the interest-rate-risk hedge demand by Australian companies, measured through the ratio of principal notional amount of interest rate derivatives to interest-rate-riskbearing liabilities. Modern panel data methods are used, with two panel data sets from 1998 to 2003 (1102 and 465 observations, respectively. Detailed information about interest-rate-risk exposures was available after manual data collection from financial annual reports, which was only possible due to specific reporting requirements in Australian accounting standards. Regarding the analysis of the extent of hedge, our measurement of interest-rate-risk exposures generates some significant results di erent from those found in previous studies. For example, this study shows that total leverage (total debt ratio is not significantly important to interest-rate-risk hedge demand and that, instead, this demand is related to the specific risk exposure in the interest bearing part of the firms liabilities. This study finds significant relations of interest-rate-risk hedge to company size, floating-interest-rate debt ratio, annual log returns, and company industry type (utilities and non-banking financial institutions.

  3. Choice of corporate risk management tools under moral hazard

    Czech Academy of Sciences Publication Activity Database

    Bena, Jan

    -, č. 298 (2006), s. 1-43 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : risk management * corporate insurance * moral hazard Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp298.pdf

  4. Choice of corporate risk management tools under moral hazard

    Czech Academy of Sciences Publication Activity Database

    Bena, Jan

    -, č. 566 (2006), s. 1-41 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : risk management * corporate insurance * moral hazard Subject RIV: AH - Economics http://fmg.lse.ac.uk/publications/searchdetail.php?pubid=1&wsid=1&wpdid=800

  5. The place of Political Risk Insurance in the political risk management strategy of multinational corporations

    Directory of Open Access Journals (Sweden)

    Violeta Iftinchi

    2016-06-01

    Full Text Available Confronted with a variety of political risks that affect their international activities, multinational corporations (MNCs can use Political Risk Insurance (PRI as a method to mitigate some of those risks. The aim of this article is to present the main characteristics of the PRI policies and participants, to highlight its benefits and to put forward three limitations that prevent MNCs in using PRI in their political risk management strategy (fluctuating capacity on the market, high premium rates and small compensation value. The recent trend in incorporating corporate social responsibility requirements as a pre-condition for providing PRI can contribute to lowering PRI premium rates.

  6. Corporate Relationship Management as a Driver of Socially Responsible Behavior

    OpenAIRE

    Juul Andersen, Torben

    2011-01-01

    How was CSR effectuated by Scandinavian management; does CSR make a difference/corporate relationship management drove CSR, as corporations grow and internationalize the need for CSR increases, there has been a shift towards in CSR requirements over the past decade/CSR can extend the scope of corporate risk management, corporate relationship management is good risk management, CSR can pay off in the long run.

  7. Corporate governance practices and financial performance: The mediating effect of risk management committee at manufacturing firms

    Directory of Open Access Journals (Sweden)

    Edyanus Herman Halim

    2017-12-01

    Full Text Available This study attempts to examine the effect of the Risk Management Committee on firm performance, and the intervening effect of the Risk Management Committee on the relationship between Corporate Governance, Firm Size, Financial Reporting Risk, and Firm Performance. Using the purposive sampling method, 299 firms were selected as the sample. This study used secondary data obtained from the companies’ annual reports, and the data was then analyze using SPSS, version 20.0. The results of this study indicate that the entire research hypothesis is accepted. This study found that the Risk Management Committee affects firm performance, and that Risk Management Committee acts as the intervening variable in the relationship between corporate governance, firm size, and financial reporting risk on firm performance. The existence of RMC would facilitate the company to control better the quality of financial reporting risks.

  8. ANALYSIS OF CORPORATE SOCIAL RESPONSIBILITY, DEFAULT RISK AND CONSERVATISM EFFECT TO EARNING MANAGEMENT WITH GOOD CORPORATE GOVERNANCE AS MODERATING VARIABLE IN MANUFACTURING COMPANY WHOSE SHARES INCORPORATED IN INDONESIA SHARIA STOCK INDEX

    Directory of Open Access Journals (Sweden)

    Budi Gautama Siregar

    2018-05-01

    Full Text Available The purpose of this research is to examine and analyze Good Corporate Governance in moderating the relationship between Corporate Social Responsibility (as measured by economic, environmental and social, Default Risk (as measured by debt to equity ratio and debt to assets ratio and Conservatism (as measured by earning / stock return relation, accruals and net assets Earnings Management. The sample used is a manufacturing company during the period 2011- 2015. The total sample used is 170 samples. Sampling technique used is saturated sample method. The analytical model used in this research with Structural Equation Modeling. The results showed that Corporate Social Responsibility, as measured by the economy and environment, has a positive and significant effect on earning management, while Corporate Social Responsibility measured by social have negative and significant effect to earning management. Default risk, as measured by debt to equity ratio and debt to asset ratio, has positive and significant effect on Earnings Management. Also, conservatism measured by earning / stock return relation and accrual has adverse and insignificant effect on earning management. Good Corporate Governance moderates weakening the effect of Corporate Social Responsibility as measured by economic, environmental to Earnings Management. Meanwhile, the interaction of Corporate Social Responsibility proxy by social with good corporate governance has a positive and significant effect. Good Corporate Governance moderates weakening the effect of default risk measured by debt to equity ratio on Earnings Management, while the interaction between default risk measured by debt to asset ratio with good corporate governance has positive and insignificant effect, so GCG does not moderate the effect of default risk as measured by debt to asset ratio to Earnings Management. Another result was that good Corporate governance does not moderate Conservatism effect measured by Earning

  9. The role of risk management in corporate governance: Guidelines and applications

    Directory of Open Access Journals (Sweden)

    Hugh Grove

    2017-11-01

    Full Text Available Risk management should be a key concern of board members to enhance corporate governance in any organization. Eleven key numbers, ratios, and models were advocated in this paper for risk management analyses, including an analysis of their variability with graphs. They are applied to Kaisa, a Chinese property developer, located in Shenzhen but incorporated with limited liability in the Cayman Islands. The importance of such risk management analyses was demonstrated in this paper as Kaisa destroyed $12.9 billion in four different types of investments: $2.2 billion in stock market value, $0.3 billion in private equity investments, $2.5 billion in global bonds, and $7.9 billion in Chinese short-term and long-term debt. Thus, the use of key financial statement metrics, including fraud models and ratios, has been shown here to provide enhanced corporate governance with risk management guidelines and applications. Boards of Directors need to pay attention to key financial statement metrics, which have been shown to work over and over again, as with Kaisa in this paper. These key metrics usually start with operating cash flows which then may indicate problems with debt service (the fixed charge coverage ratio which then may lead to bankruptcy predictions by the Altman bankruptcy model. To cover up such survival problems, companies often resort to earnings management and even fraudulent financial reporting which are typically red flagged by the quality of earnings, the quality of revenues, the new fraud model and the old fraud model

  10. Managing Corporate Reputation Through Corporate Branding

    DEFF Research Database (Denmark)

    Schultz, Majken; Hatch, Mary Jo; Adams, Nick

    2012-01-01

    This article, which concentrates on symbolic management by explaining the role of corporate branding in managing corporate reputation, using Novo Nordisk as a case study, presents three perspectives on corporate branding: the marketing perspective, the organisational perspective and the co...... is a way to influence corporate reputation. The Novo Nordisk management believes the data indicate that corporate branding influenced reputation more than the other way around. Formal brand management practices may work considerably better when they complement rather than try to control existing forces......-creation perspective. The three perspectives reviewed show the possibility of developing a multidisciplinary conceptualisation of corporate branding. They all offer insights important to managing organisations as corporate brands in a multi-stakeholder context and thus to the likelihood that corporate branding...

  11. Emerging carbon constraints for corporate risk management

    International Nuclear Information System (INIS)

    Busch, Timo; Hoffmann, Volker H.

    2007-01-01

    While discussions about global sustainability challenges abound, the financial risks that they incur, albeit important, have received less attention. We suggest that corporate risk assessments should include sustainability-related aspects, especially with relation to the natural environment, and encompass the flux of critical materials within a company's value chain. Such a comprehensive risk assessment takes into account input- as well as output-related factors. With this paper, we focus on the flux of carbon and define carbon constraints that emerge due to the disposition of fossil fuels in the input dimension and due to direct and indirect climate change effects in the output dimension. We review the literature regarding the financial consequences of carbon constraints on the macroeconomic, sector, and company level. We conclude that: a) financial consequences seem to be asymmetrically distributed between and within sectors, b) the individual risk exposure of companies depends on the intensity of and dependency on carbon-based materials and energy, and c) financial markets have only started to incorporate these aspects in their valuations. This paper ends with recommendations on how to incorporate our results in an integrated carbon risk management framework. (author)

  12. The Omitted Factor in Risk Management: Corporate Foreign Debt as an Alternative to Currency Derivatives

    DEFF Research Database (Denmark)

    Aabo, Tom

    Empirical surveys on exchange rate risk management in non-financial companies focus on the use of currency derivatives while omitting the use of corporate debt denominated in foreign currency ("foreign debt") even though the latter in risk management terms is identical to one or a series of forward...

  13. RESEARCH ON RISK MANAGEMENT, AS PART OF CORPORATE GOVERNANCE, IN ENTITIES

    Directory of Open Access Journals (Sweden)

    Florin\tBOGHEAN

    2015-06-01

    Full Text Available The Romanian companies are nowadays facing process of extinction of decisions based on risk and uncertainty, as a consequence of the permanent transforming process of the economy and because of the privatization, restructuring and globalization activities. The main forms of risk are can be grouped in eight categories: economical risks, financial risks, commercial risks, manufacturing risks, political risks, social risks, juridical risks, natural risks. Through its nature the decision is referring to the future, mainly being provisional. In any decisional process developed at the company level, there are involved in the same time some economical, techniques, juridical, human and managerial variables. As a consequence of the decision (generally and of managerial decision (particularly, because of its complexity and its contextual deter in its growth there are associated many risks. The main objective of this paper is to capture the factors that influence the decisional process, in the context of the implementation of corporate governance in view of the company’s resources, production methods and its operational environment and the identification of decision making support systems. I consider that the study contributes to the development of knowledge in the risk management field associated with decision making processes in the context of efficient corporate governance, based on a series of new elements and authenticity.

  14. Management compensation, monitoring and aggressive corporate tax planning

    OpenAIRE

    Steinhoff, Melanie

    2015-01-01

    The empirical literature shows that management incentives often reduce corporate tax aggressiveness. Focussing on the riskiness of tax aggressiveness this paper offers one explanation for the observed negative relation. Using an agency framework, I analyze the manager's choice of effort dedication in other tasks and her explicit choice of the firm's tax risk. I show that corporate tax aggressiveness may decrease with compensation incentives. By choosing the tax risk, the manager (partly) dete...

  15. Study of International Standards of Risk Management

    Directory of Open Access Journals (Sweden)

    Dykan Volodymyr L.

    2014-01-01

    Full Text Available The goal of the article lies in the study of existing international standards of risk management, an important factor of improvement of risk management in domestic corporations and enterprises and development of recommendations on application of international standards in Ukraine, in particular, within the framework of building corporate systems of risk management. The conducted study shows that approaches on organisation of the process of risk management, used in standards of risk management, are of general character and differ with the degree of detailing. Their undoubted value in development of risk management in Ukraine is identification of a general direction of building corporate systems of risk management in practice. The said approaches at the national and corporate levels of standardisation in Ukraine within the framework of building corporate systems of risk management would allow improvement of risk management in corporations and enterprises. The prospect of further studies of domestic specialists in the field of risk management is development of the domestic standard of risk management with consideration of modern domestic specific features of development of risk management in Ukraine and leading foreign experience.

  16. Economic Exposure and Integrated Risk Management

    OpenAIRE

    Miller, Kent D.

    1994-01-01

    Most corporate risk management research focuses on particular risk exposures to the exclusion of other interrelated exposures. By contrast, this study models corporate risk exposures using a multivariate approach integrating the distinct exposures of interest to finance and strategy researchers. The paper addresses the implications of multivariate modeling for corporate risk management, some key methodological issues arising in empirical estimation of corporate economic exposrues, and direc...

  17. Corporate governance of the state-owned enterprises in an emerging country: Risk management and related issues

    Directory of Open Access Journals (Sweden)

    Noluthando Shirley Matsiliza

    2017-07-01

    Full Text Available This article assesses the extent to which state owned enterprises (SOE have complied with corporate governance codes, as recommended by King III in South Africa. Corporate governance in the post-apartheid era has changed irrevocably. The development path which is the agenda to transform state owned enterprises has been a trial and error (trend in South Africa. This paper argues that the South African State Owned Enterprises (SOEs have applied the King III principles of corporate governance, while grappling with structural changes that impact in their practice regarding their organisational performance on risk and corporate governance. Along with regulatory measures on corporate governance, the SOEs are looking at strategies to translate the concept of corporate governance into practical solutions that involve stakeholders and government support. Using a qualitative approach, this theoretical paper employed document analysis for data collection and analysis. This paper calls for more risk intelligent management of agencies so that future opportunities and threats are recognized and addressed promptly and effectively. The value of this paper is based on its contribution to the existing knowledge area on corporate governance and leadership

  18. Corporate against corporate management

    OpenAIRE

    Runcev, Nikolce; Krstev, Boris; Golomeova, Mirjana

    2010-01-01

    In contemporary economic performance, corporate governance is considered an essential prerequisite in building a successful system for creating an attractive investment climate, which is characterized by competing companies oriented and efficient financial markets. Good corporate governance is based on principles of transparency, bias, efficiency, timeliness, completeness and accuracy of information at all levels of management. Companies with good corporate governance and afford easier acc...

  19. Investment riskmanagement of the transnational corporations: paradigm of the ХХІ century

    Directory of Open Access Journals (Sweden)

    Yevhen Panchenko

    2009-03-01

    Full Text Available The article reveals the management conceptual frameworks of the international investment risks of transnational corporations in the current conditions. Since the operation models of the investments risks used in the practices of international management aren’t perfect and contain numerous errors of risk-managers, the authors offer a system of integrative riskmanagement. There was researched the evolution of the management paradigm of the international investment risks from the past fatalistic and mathematic paradigms through “weather-type” and organic paradigm to the latest behavioral paradigm, the key characteristics of which is a crucial influence of the decisions and actions of leading international investments players on the state and dynamics of changes of the world financial markets. There has been proved a regular character of the formation of the modern integrative system of international risk-management, which includes not only traditional financial and managerial instruments but also nontraditional financial instruments (hedge funds of the new type, art banking, stress testing, and also cross-cultural technologies (cross-cultural compliance, friendly merger technologies, cultural types of risk-managers and so on.

  20. CORPORATIVE MOTIVES ON IMPLEMENTATION OF INTEGRATED MANAGEMENT SYSTEM (IMS

    Directory of Open Access Journals (Sweden)

    Dragan Rajkovic

    2009-09-01

    Full Text Available Integration of management systems for quality, environment, health and risk management as well as corporative social responsibilities is workable corporative approach to reduce costs, effective use of resources, higher motivation of employees and better fulfillment of requirements of social engagements and stakeholders. This paper presents contents of literature and review of a company motives on integrated management system (IMS implementation, namely factors affecting the IMS implementation.

  1. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

    Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

  2. Corporate ownership structure and risk-taking: evidence from Japan

    Directory of Open Access Journals (Sweden)

    SunEae Chun

    2017-12-01

    Full Text Available We examine the relationship between ownership structure and corporate risk-taking in Japan over the sample periods of 2000 2010. Reflecting the ongoing changes in the ownership structure in Japan, we incorporate the various kinds of insider and outsider ownership in the analysis. Ownership such as concentrated ownership, ownership by closely related parties, financial institutions comprising banks and insurance companies and managers are categorized into inside ownership, while ownership by foreigners or financial institution such as investment trusts or pension funds are categorized into outside ownership. The ownership structure is found to have a different impact on the firm’s risk-taking behavior. The study shows that concentrated ownership or ownership by closely related parties affect the firm risks in a convex manner and encourages the firm management to take more risk when the firms have growth opportunities. On the other hand, ownership by financial institutions such as bank and insurance companies, does not seem to affect the firm risk level. This implies that the financial institutions fail to play their role of a shareholder monitor. When managerial ownership is allowed, it is found that Japanese managers’ incentives are aligned with those of shareholders. Contrary to the conventional entrenchment hypothesis, however, managers seem to take more risk as the share of managerial ownership increases. Foreign investors are found to enhance corporate risk-taking in a monotonic manner and do not bias corporate investment in a conservative direction in pursuit of their short-term gains. Domestic institutions such as investment trusts or pension funds are found to neither affect the firm risk level nor enhance the firm value.

  3. AUTOCHTHONOUS APPROACHING IN THE MANAGEMENT OF THE SECURITY RISK

    Directory of Open Access Journals (Sweden)

    Burtescu Emil

    2008-05-01

    Full Text Available An optimal management for a corporation, no matter what size the corporation is, it must contain the management of the security risk. On the importance that is given to the risk management can depend the well functioning of the corporation. An important role in this process has the owner of the business and the way that this one understands the risk. A good understanding of the risk by the owner will have as effect the allocation of sufficient funds to implement controls meant to bring the risk level in order to be an acceptable one. The autochthonous corporations, in a great part even because of the inexistence of reglementations in this domain, have an empiric approach of the phenomena.

  4. Risk Management and Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

    Corporate failures, periodic recessions, regional debt crises and volatile financial markets have intensified the focus on risk management as the means to deal with turbulent conditions. The ability to respond effectively to abrupt environmental impacts is considered an important source...... of competitive advantage. Yet, surprisingly little research has analyzed whether the presumed advantages of effective risk management are associated with superior outcomes. Here we present a comprehensive study of risk management effectiveness and the relationship to corporate performance based on more than 33......,500 observations in 3,400 firms over the turbulent 20-year period 1991-2010. Determining effective risk management as the ability to reduce earnings and cash flow volatility, we find that both have significant positive relationships to lagged performance measures after controlling for industry effects, company...

  5. Managing Corruption Risks

    DEFF Research Database (Denmark)

    Krause Hansen, Hans

    2011-01-01

    This article investigates the emerging engagement of private actors and specifically Western corporations in international anti-corruption, drawing on Foucauldian studies of governmentality. It explores this engagement as governing practices that have emanated quite independently from the inter......-state system commonly understood to be at the core of the anti-corruption regime. It demonstrates how corporate anti-corruption ties in with a relatively new way of perceiving corruption. In this framing, anti-corruption comes out as risk management, which is latched on to notions of corporate social...... responsibility and business ethics. Moreover, the constitution of corruption risk relates to the rise of new actors and networks engaged in a wider business of anti-corruption, including commercial and hybrid actors that supply corporations with managerial instruments, benchmarks for best practice, rankings...

  6. Human element of corporate espionage risk management : literature review on assessment and control of outsider and insider threats

    OpenAIRE

    Sandberg, Jarkko

    2015-01-01

    The primary purpose of this study is to determine how suitable human risk management con- trols are against corporate espionage. Information risks are ascending problem with corpora- tions all over the world. Cyber attacks are commonplace, and the attackers are often trying to compromise valuable data assets. These malicious targeted attacks are bypassing traditional information security controls; therefore, organizations are endangered by these threats. Since the traditional information secu...

  7. Top management motivation in global corporations

    Directory of Open Access Journals (Sweden)

    Dmytro Lukianenko

    2015-11-01

    Full Text Available The article explores economic localization, socialization and development intellectualization processes. The research is focused on the relevant problem implying formation and development of human resources at organizations as a key factor of their competitiveness. Based on generalizing modern theoretical motivational models a comprehensive analysis of the motivation system for top management of corporations within the paradigm of global management has been carried out. Special attention is paid to the phenomenon of global business personification and virtualization, as well as to the formation of new financial and nonfinancial incentives for top managers. Practices of effective incentives for the contemporary key corporate management actors have been studied. A comprehensive country-based comparative analysis of key tools for financial and non-financial corporate incentives for top managers within the system of long-term, short-term and regulatory criteria and parameters has been performed. Based on summarizing academic studies and empirical evidence of the leading multinational corporations a motivational model for top management of corporations has been grounded and suggested for practical implementation in Ukraine with the said model accounting for the corporations' basic needs, financial status and interests as well as for countryspecific and regional features.

  8. Managing corporate identities of non-profit organisations in the social welfare sector

    Directory of Open Access Journals (Sweden)

    Lida Holtzhausen

    2013-03-01

    Full Text Available Present-day South Africa is characterised by many societal and developmental issues, such as HIV awareness and prevention, child-headed households, environmental protection, poverty alleviation, violence and victim aid. However, it is widely acknowledged that government alone cannot address these issues effectively. The role of non-profit organisations (NPOs in addressing social and development issues is increasingly emphasised. NPOs work at grass-roots level and they can therefore, on the whole, identify societal vulnerabilities and risks earlier than the government sector. However, due to the economic recession, NPOs operate in a competitive environment where an increasing number of NPOs rely on a small number of donors and other resources. NPOs should therefore differentiate themselves from the competition in order to obtain public legitimacy and funding. Corporate identity management is important for NPOs to fulfil their role in social welfare and thus contribute to disaster risk reduction. The exploratory nature of this study dictates a qualitative research approach. Semi-structured interviews with management of five NPOs in the social welfare sector were conducted in order to provide an answer to the study’s research question: ‘To what extent do NPOs in the social welfare sector practise corporate identity management, in order to prevent and address social welfare risks?’ The research found that NPOs do not realise the full potential of managing their corporate identities. NPOs therefore do not take advantage of a strong and distinct corporate identity which would allow them to ensure their ability to assess, address, reduce and/or alleviate vulnerabilities and disaster risks.

  9. 24 CFR 964.120 - Resident management corporation requirements.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Resident management corporation... § 964.120 Resident management corporation requirements. A resident management corporation must consist... resident council, so long as each such council: (1) Approves the establishment of the corporation; and (2...

  10. Еnterprise’s corporate management improvement on the base of corporate culture development

    Directory of Open Access Journals (Sweden)

    T.O. Biliak

    2016-12-01

    Full Text Available The author reveals extremely important role of corporate culture and uniqueness of the corporate culture system. It is established that the corporate management is characterized above all, by the economic activity and corporate culture practice. The securement of the balance in the process of interaction between organization and its environment plays one of the key roles in any management system. The author determines the influence of corporate culture on the business activity of the enterprise, when personnel predicts the situation development according to which they build models and evaluate their behavior. While realizing them in their activity employees strengthen certain trends and create in such a way appropriate situations. The search of ways of development and changing corporate culture as the base of corporate management improvement is conducted with the use of the strategic approach. The creation of a corporate culture that supports the development strategy of the enterprise, is an essential component of effective business and management, because the culture shapes a socio-psychological climate and corporate spirit which contributes to the operational execution of tasks and achievement of certain goals. Accordingly to the mentioned above, the set of measures of enterprise’s corporate culture development securement is proposed.

  11. 12 CFR 704.6 - Credit risk management.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...

  12. An exploration of the role of records management in corporate governance in South Africa

    Directory of Open Access Journals (Sweden)

    Mpho Ngoepe

    2013-08-01

    Full Text Available Background: Corporate governance maybe approached through several functions such as auditing, an internal audit committee, information management, compliance, corporate citizenship and risk management. However, most organisations, including governmental bodies, regularly exclude records management from the criteria for a good corporate-governance infrastructure. Proper records management could be the backbone of establishing good corporate governance.Objectives: Utilising the King report III on corporate governance as a framework, this quantitative study explores the role of records management in corporate governance in governmental bodies of South Africa.Method: Report data were collected through questionnaires directed to records managers and auditors in governmental bodies, as well as interviews with purposively selected auditors from the Auditor-General of South Africa. Data were analysed using various analytical tools and through written descriptions, numerical summarisations and tables.Results: The study revealed that records management is not regarded as an essential component for corporate governance. Records management is only discussed as a footnote; as a result it is a forgotten function with no consequences in government administration in South Africa. The study further revealed that most governmental bodies have established internal audit units and audit committees. However, records-management professionals were excluded from such committees.Conclusion: The study concludes by arguing that if records management is removed as a footnote of the public-sector operations and placed in the centre of operational concern, it will undoubtedly make a meaningful contribution to good corporate governance.

  13. How Does Implementation of Environmental Management System Contribute to Corporate Sustainability Management

    Directory of Open Access Journals (Sweden)

    Lucie Vnoučková

    2014-01-01

    Full Text Available Corporate sustainability management (CSM appears to be an important issue for current management. The aim of the paper is to identify what determinants of sustainability management are examined in the literature and discuss the contribution of environmental management system (EMS to CSM based on experiences of selected Czech organizations with implemented EMS according to ISO 14001. The data for the survey was gathered from 222 organizations (N = 1265 who have already implemented EMS. The results show there is a basic knowledge of sustainability concept in the surveyed Czech organizations. Perceived improvements of EMS implementation in Czech organizations are mainly in the area of environmental performance, economic performance, relationship with involved parties and social issues. Based on the implementation of EMS, the organizations take care about corporate sustainability (about the areas of environmental aspects and impacts of the organization. Improved environmental performance has been linked with process and product cost improvements and lower risk factors.

  14. LIQUIDITY MANAGEMENT AND CORPORATE RISK

    Directory of Open Access Journals (Sweden)

    Fenyves Veronika

    2011-07-01

    Full Text Available The consequence of the economic crisis, the access of the external financing resources was narrowed significantly and lenders had became more cautious. This meant that the external source providers analyze more thoroughly the source claimants, and they also need to be more aware of their situation, to submit well founded loan applications to financial institutions. The other aspect is why the indicators presented in the study, the firms should be addressed much more thoroughly than ever before to have a much better understanding their situation, to recognize the sources of internal funding opportunities, and to use more efficiently the available internal resources. However, analysts should be aware of which are the ratios which should be paid a special attention and which ones are essential to assess a given situation, knowing them they can properly inform the leaders as well as to give an appropriate help to the decision makers. To ensure the appropriate level of internal resources the company's activity is continuous financing closely related to the working capital management. The other reason is why the working capital management coming into view - which is linked to the previous one - that longer and longer payment periods have emerged in the corporate sales, in point of fact there is a significant increase in commercial lending period, the companies must be able to finance this period. The working capital is essential for companies to determine their short-term financial positions. A significant change in working capital provides an important information to the company's various stakeholders, and this is especially true for the net working capital. The working capital analysis is one way the company's creditability evaluation, and helps also to better understand the company's normal business cycle.

  15. Risk Management in Mergers and Acquisitions

    Directory of Open Access Journals (Sweden)

    Dmitry O. Verdiev

    2015-01-01

    Full Text Available M&A statistics show that less than a third of newly merged companies has realized their planned synergistic effects and increased shareholder value. According to the author, such disgusting situation is due to improper planning and failure of corporate management to understand the importance of risk management in M&A. Lack of practice in identification, evaluation, mitigation and regular monitoring of risks leads to the situation when many companies merge despite the fact that the merger bears substantial risks. Corporate management fails to include risk mitigation expenses in merger costs. In many cases, risk mitigation expenses may be so substantive that the merger loses its attractiveness. Only few companies implement risk management methodology while planning M&A activity. This methodology may anticipate and minimize the consequences of various risk factors that negatively influence integration process. The article suggests an implementation of risk management best practice. This risk management best practice may act as an effective tool of successful realization of synergistic effects in M&A and may be helpful in increasing shareholder value in post-merger period. Risk management is conducted throughout the stages of merger and includes identification, analysis, assessment, management and monitoring of risks. Implementation of risk management at early stages of merger planning significantly decreases uncertainty in relation to achievement of financial and operational goals of newly merged company. The article provides with typical M&A risk matrix that may be adapted for specific M&A project. Risk matrix includes a register of risks sorted by stages of M&A deal, quality assessment of their probability, influence and impact on merger as well as risk mitigation methods.

  16. Public opinion, risk to reputation: The essentials of societal corporate governance?

    Directory of Open Access Journals (Sweden)

    Catherine Malecki

    2012-12-01

    Full Text Available Research Question/Issue: This paper will examine the role of reputation regarding corporate governance in terms of performance, risk control and the possible role of legislature or behaviors in this field (in particular with regards to the recent Green Paper “Companies in the EU: a management of governance”, COM (2011 164 final, of the 5th April 2011, of the European Commission. Research Findings/Insights: Image, reputation, positive or negative opinion, notoriety of the companies and their managers are regarded as an element of their performance. It is accepted that public opinion, inherently linked to the reputation risk is an essential element of corporate governance. Regarding the need of a long term matter, particularly after the financial crisis, a short period of time is enough to transform a positive public opinion into a negative one. In addition, the assessment of public opinion is complex. Everyone can freely form an “opinion”. The opinion may be private and public. Public opinion refers to society, to citizens and to the people. Its classic means of expression are freedom of the press and freedom of speech. This question is particularly crucial regarding the role of the companies to the “society” as recently defined by the Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the committee of the Regions, A renewed EU strategy 2011-14 for Corporate Social Responsibility, the European Commission and the European Parliament (Brussels, 25.10.2011 COM (2011 681 final. Theoretical/Academic Implications: How to manage good corporate governance reputation ?As from 1979, the Anglo-Saxon doctrine has acutely highlighted the role of reputation risk regarding corporate governance but what is the situation within the EU? Has legislature, in Europe (and for example, in France, sufficiently acknowledged the concept of reputation risk control? – A long term period

  17. Earnings management, corporate governance and expense sticki

    Directory of Open Access Journals (Sweden)

    Shuang Xue

    2016-03-01

    Full Text Available Cost and expense stickiness is an important issue in accounting and economics research, and the literature has shown that cost stickiness cannot be separated from managers’ motivations. In this paper, we examine the effects that earnings management has on expense stickiness. Defining small positive profits or small earnings increases as earnings management, we observe significant expense stickiness in the non-earnings-management sub-sample, compared with the earnings-management sub-sample. When we divide expenses into R&D, advertising and other general expenses, we find that managers control expenses mainly by decreasing general expenses. We further examine corporate governance’s effect on expense stickiness. Using factor analysis, we extract eight main factors and find that good corporate governance reduces expense stickiness. Finally, we investigate the interaction effects of earnings management and corporate governance on expense stickiness. The empirical results show that good corporate governance can further reduce cost stickiness, although its effect is not as strong as that of earnings management.

  18. The impact of house price index specification levels on the risk profile of housing corporations

    NARCIS (Netherlands)

    Kramer, B.; Kuijl, T.; Francke, M.

    2009-01-01

    Asset Liability Management (ALM) for housing corporations is based on stochastic scenario models for important risk and return drivers such as interest and inflation rates, construction costs and sales prices of houses. Given the situation of the housing corporation (current real estate portfolio,

  19. Using corporate stories to build the corporate brand:an impression management perspective

    OpenAIRE

    Spear, Sara; Roper, Stuart

    2013-01-01

    Purpose – A recent area of academic interest within corporate branding and reputation is the use of storytelling in order to differentiate the corporate brand, however there is little empirical research exploring the contents of corporate stories, and how they are used by organisations to build the corporate brand. This paper aims to utilise impression management theory to bring insight into the potential role of corporate stories in shaping the corporate brand. Design/methodology/approach – ...

  20. Insights from implementation of a risk management methodology

    International Nuclear Information System (INIS)

    Mahn, J.A.; Germann, R.P.; Jacobs, R.R.

    1992-01-01

    In 1988, GPU Nuclear (GPUN) Corporation embarked on a research effort to identify or develop an appropriate methodology for proactively managing risks. The objective of this effort was to increase its ability to identify potential risks and to aid resource allocation decision making for risk control. Such a methodology was presented at a risk management symposium sponsored by GPUN in September of 1989. A pilot project based on this methodology has been conducted at GPUN to test and validate the elements of the methodology and to compare the results of its application with current corporate methods for guiding risk decision making. The pilot project also led to a follow-up policy-capturing study to elicit information about the various risk decision-making models of GPUN decision makers. The combination of these endeavors provided an opportunity to gain numerous insights with respect to understanding the real value of a risk management process, obtaining acceptance of and commitment to risk management and improving operational aspects of the methodology

  1. Risk Management in IT Governance Framework

    Directory of Open Access Journals (Sweden)

    Mirela GHEORGHE

    2011-12-01

    Full Text Available The concept of governance has an already old contour: the system by which business corporations are directed and controlled. The most praised principles regarding shareholder rights, transparency and board accountability now constitute the foundation for new tendencies evolved from such ground. Executive compensation, transparency and shareholder reporting are new issues attached to board responsibilities. Besides such almost negative approaches the board faces a more and more prominent role from risk management and IT governance perspective. Nowadays is generally acknowledged that the board is in charge for managing and controlling the risks to assets of the enterprises and business future. IT Governance has emerged as a support for corporate governance, as an important part of board’s striving efforts to perform better in a competition environment. These responsibilities, risk management and IT Governance, remain within the framework of old concept of corporate governance and are fed from its substance. The interaction between these concepts is the core interest of this research.IT Governance is defined as procedures and policies established in order to assure that the IT system of an organization sustains its goals and strategies. The management of the organisations face a new challenge: structural redefinition of the IT component in order to create plus value and to minimize IT risks through an efficient management of all IT resources of the organisation. The evolution of the present IT environment is a natural process according to which business environment should adapt.

  2. Compliance management and corporate governance; Compliance Management und Corporate Governance

    Energy Technology Data Exchange (ETDEWEB)

    Becker, Uwe [Stadt Frankfurt am Main (Germany); Alsheimer, Constantin; Kassebohm, Kristian; Reutler, Susanne [Mainova AG, Frankfurt (Germany)

    2009-08-15

    Starting in the year 2009, numerous changes in the financial system and accountancy a well as in the corporate law come into effect for enterprises. Thereby, the requirements substantially are intensified to their corporate governance. The actual well-known reproaches of bribery, corruption and injuries of data protection intensify the pressure on executive committees and supervisory boards in order to meet normative and ethical requirements. All the more is valid for power suppliers whose reputation can already carry damage out with the first suspicion. Already in 2008, Mainova AG (Frnkfurt/Main, Federal Republic of Germany) implemented a compliance management.

  3. Management Ownership and Risk-Shifting Investment

    OpenAIRE

    Nobuyuki Teshima

    2012-01-01

    This study analyzes the relationship between management ownership and its risk-shifting incentive. We first present a simple model showing that the risk-shifting incentive of management of financially distressed firms increases as the management ownership of the firm increases. Empirically, we test the hypothesis that under the former Japanese Corporate Reorganization Law, firms with higher management ownership are more likely to use legal rather than private reorganization. Since the reorgan...

  4. The essentials of risk management the definitive guide for the non-risk professional

    CERN Document Server

    Crouhy, Michel; Mark, Robert

    2006-01-01

    Learn what risk management is and how you can effectively implement it in your organisation Essentials of Risk Management eliminates the complex mathematics and minutiae surrounding corporate risk management. It describes key risk concepts and controls in language that you can understand. Topics include organisational issues and regulatory aspects, along with detailed descriptions of tools for controlling key types of market, credit, and operational risk.

  5. Corporate Sustainability Management and Environmental Ethics

    DEFF Research Database (Denmark)

    Schuler, Douglas; Rasche, Andreas; Etzion, Dror

    2017-01-01

    This article reviews four key orientations in environmental ethics that range from an instrumental understanding of sustainability to one that acknowledges the intrinsic value of sustainable behavior (i.e., sustainable resource use, conservation and preservation, rights-based perspectives, and deep...... ecology). It then shows that the current scholarly discourse around corporate sustainability management—as reflected in environment management (EM), corporate social responsibility (CSR), and corporate political activity (CPA)—mostly favors an instrumental perspective on sustainability. Sustainable...... business practices are viewed as anthropocentric and are conceptualized as a means to achieve competitive advantage. Based on these observations, we speculate about what corporate sustainability management might look like if it applied ethical orientations that emphasize the intrinsic value of nature...

  6. Individual competencies for managers engaged in corporate sustainable management practices

    OpenAIRE

    Wesselink, R.; Blok, V.; Leur, van, S.; Lans, T.; Dentoni, D.

    2015-01-01

    Corporations increasingly acknowledge the importance of sustainable practices. Corporate social responsibility is therefore gaining significance in the business world. Since solving corporate social responsibility issues is not a routine job, every challenge in corporate social responsibility requires its own approach; and management competencies are crucial for designing appropriate approaches towards the realization of sustainable solutions. On the basis of seven corporate social responsibi...

  7. Model for Managing Corporate Social Responsibility

    Directory of Open Access Journals (Sweden)

    Tamara Vlastelica Bakić

    2015-05-01

    Full Text Available As a crossfuncional process in the organization, effective management of corporate social responsibility requires a definition of strategies, programs and an action plan that structures this process from its initiation to the measurement of end effects. Academic literature on the topic of corporate social responsibility is mainly focused on the exploration of the business case for the concept, i.e., the determination of effects of social responsibility on individual aspects of the business. Scientific research so far has shown not to have been committed to formalizing management concept in this domain to a satisfactory extent; it is for this reason that this paper attempts to present one model for managing corporate social responsibility. The model represents a contribution to the theory and business practice of corporate social responsibility, as it offers a strategic framework for systematic planning, implementation and evaluation of socially responsible activities and programs.

  8. Liquidity risk premia in corporate bond markets

    NARCIS (Netherlands)

    Driessen, J.J.A.G.; de Jong, F.C.J.M.

    2012-01-01

    This paper explores the role of liquidity risk in the pricing of corporate bonds. We show that corporate bond returns have significant exposures to fluctuations in treasury bond liquidity and equity market liquidity. Further, this liquidity risk is a priced factor for the expected returns on

  9. How to manage project opportunity and risk why uncertainty management can be a much better approach than risk management

    CERN Document Server

    Ward, Stephen

    2011-01-01

    Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enl

  10. Corporate communications and stakeholder management

    Directory of Open Access Journals (Sweden)

    Đorđević Mira

    2010-01-01

    Full Text Available Corporate communications represent a modern communications discipline used by businesses across the globe to communicate with key stakeholders. Chief executive officers and executive management teams strive to create, protect and advance corporate reputation through corporate communications. Further, by communicating with key stakeholders the company adequately prepares for good news and future problems. With the benefit of technology and greater transparency, corporations of the future will continue to use corporate communications approaches to advance their business. Company's reputation derives from the way stakeholders perceive the organization, how they think, feel or act towards it. It is therefore vital that organizations interested in developing and building their reputational capital; pay careful attention to the way they are perceived and that they manage the relationships with their various stakeholders like a strategic resource. Stakeholders represent both opportunity and threat for the organizations. For instance, if an institution has a good reputation with stakeholders they may provide the organization more latitude to operate. On the other hand a poor reputation may result in creating the legislative that can make it more difficult for an institution to operate.

  11. Corporate governance as an intellectual property management

    Directory of Open Access Journals (Sweden)

    Rstić Milan J.

    2016-01-01

    Full Text Available The development of more complex forms of organization of the company is to create the conditions of a small number of complex economic, but also organizationally complex and komlikovanijih corporate organizations whose successful conduct of the owners often did not have enough resources, so they hired a professional and competent teams of experts who are trusted with the management of such organizations. In exercising the power of new ideas and concepts based on knowledge, managers in corporations are becoming an indispensable element of every company will be able to change, adapt and create new opportunities to compete successfully in a changing business environment. However, the transfer of responsibility for the management of the corporation managers has resulted in the emergence of abuse of senior management positions in order to realize their own interests. The main objective of this paper is to show how unlike traditional enterprise, today we have a situation in which such property owners corporation is a conceptual and thoughtful decision managers, which should represent the members of their intellectual property.

  12. THE IMPLEMENTATION OF CORPORATE GOVERNANCE INTO BRAND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Claudia- Cristina PLOSCARU

    2014-11-01

    Full Text Available Integrating corporate governance into brand management is fundamental for protecting shareholders, considering the increasing importance of brands in firms’ performance and the dissociation between shareholders and managers in most large and medium firms. This paper designs a corporate governance system model on a brand level, which takes into account preventive, simultaneous and retroactive governance. Moreover, we highlight the importance of transition management when changes to brand management come into question. Finally, we propose six corporate governance instruments for brand management: performance indicators, the brand marketing plan, periodic reports, the brand council, brand audit, and transition management.

  13. Corporate competitiveness and sustainability risks

    Directory of Open Access Journals (Sweden)

    Udo Braendle

    2017-12-01

    Full Text Available This paper aims at providing a theoretical analysis of the existing research on corporate competition and sustainability risks that occur when companies aspire to reach maximum competitive advantages and gain competitive benefits compared to their rivals. Competitiveness has been described as a multidimensional, theoretical and relative concept linked with the market mechanism. The concept of competitiveness may refer to different levels of aggregation: national, regional, industrial and individual companies. This paper contributes to the theoretical research on corporate competitiveness by the analysis of old and new definitions of this category. It also notes that the sustainability risks connected to competition can be divided into several groups where the authors highlight environmental, legal, financial risks, behaviour risks and state-related risks as the most crucial ones. For companies to be fit for the competitive challenge, the paper identifies main characteristics of such risks and gives policy guidance for their avoidance

  14. Risk management versus incentives

    International Nuclear Information System (INIS)

    Aven, E.; Lovas, K.; Osmundsen, P.

    2006-01-01

    Portfolio theory indicates that risk management should take place at the group level. Hedging at the project level or in the individual business areas may lead to suboptimal results. However, the efficiency of a profit centre depends on its management's being able to influence factors that are crucial to the unit's financial results. Price hedging could be one such factor. In the wider perspective, this constitutes part of the balancing between centralisation and decentralisation. This article covers important elements of risk management and incentive design. It goes on to discuss the balancing of overall risk management at the group level and incentive design in profit centres and corporate units. Throughout the article, the oil industry serves as a case. (author)

  15. Basic concepts of philosophy of management and corporations

    DEFF Research Database (Denmark)

    Rendtorff, Jacob Dahl

    2013-01-01

    This chapter presents some fundamental concepts of the philosophy of management and corporations by addressing the problem of corporate legitimacy and Immanuel Kant’s distinction between theoretical, practical, and aesthetic reason and judgment. This chapter begins with a general definition...... of philosophy of management and corporations and continues by presenting its ontological and epistemological underpinnings. This approach is used to address the relation between economics, business ethics, and philosophy of management. Finally, ethical and aesthetic judgment is presented as the mediator between...... theoretical, aesthetic, and practical reason in philosophy of management....

  16. Methodology of Economic Assessment of Corporate Finance Management Effectiveness

    OpenAIRE

    Juscu Nicolae Cristian

    2011-01-01

    “The methodology of economic assessment of corporate finance management effectiveness” deals with the analysis of the basic issues of economic aspects of corporate finance management effectiveness; the paper presents the essential issues of the existing methods for establishing the economic effectiveness of corporate finance management and control; it also proposes the improvement of the approach regarding the assessment of finance management effectiveness of a company.

  17. Manitoba Hazardous Waste Management Corporation system scope and technology study

    Energy Technology Data Exchange (ETDEWEB)

    1988-01-01

    The Manitoba Hazardous Waste Management Corporation is charged with the responsibility of implementing a hazardous waste management system in the province. A review was undertaken of the planning work performed to date and of the Corporation's development strategy. The evaluation was based on a review of the literature and on experience with hazardous waste planning, management, and engineering. To facilitate evaluation, the development strategies were visualized as made up of 3 logical components: the mechanisms or business vehicles used; the rates of development employed; and the geographical locations in which the activities take place. Based on ownership or funding source, 3 business development options were identified: public corporation, private enterprise, and joint venture. The only two options possible in terms of rate of development are incremental and immediate. Three general locations were considered; in Manitoba, outside Manitoba, or a combination of both. Results showed that a joint venture is a good option since it offers a good tradeoff to minimize expenditures between public and private financing, and it enables combining the flexibility and freedom of action of a private corporation with the responsibility of a public corporation. The incremental approach provides more flexibility than immediate development and is the most practical solution to the many uncertainties of the hazardous waste problem. This approach is nominally more costly because it takes longer and cannot capitalize on economies of scale, but it also minimizes the risk of making the wrong capital investment and is therefore a safer investment approach. 108 refs., 28 figs., 15 tabs.

  18. Manitoba Hazardous Waste Management Corporation system scope and technology study

    Energy Technology Data Exchange (ETDEWEB)

    1988-01-01

    The Manitoba Hazardous Waste Management Corporation is charged with the responsibility of implementing a hazardous waste management system in the province. A review was undertaken of the planning work performed to date and of the Corporation's development strategy. The evaluation was based on a review of the literature and on experience with hazardous waste planning, management, and engineering. To facilitate evaluation, the development strategies were visualized as made up of 3 logical components: the mechanisms or business vehicles used; the rates of development employed; and the geographical locations in which the activities take place. Based on ownership or funding source, 3 business development options were identified: public corporation, private enterprise, and joint venture. The only two options possible in terms of rate of development are incremental and immediate. Only 3 general locations were considered: in Manitoba, outside Manitoba, or a combination of both. Results showed that a joint venture is a good option since it offers a good tradeoff to minimize expenditures between public and private financing, and it enables combining the flexibility and freedom of action of a private corporation with the responsibility of a public corporation. The incremental approach provides more flexibility than immediate development and is the most practical solution to the many uncertainties of the hazardous waste problem. This approach is nominally more costly because it takes longer and cannot capitalize on economies of scale, but it also minimizes the risk of making the wrong capital investment and is therefore a safer investment approach. 105 refs. 28 figs., 15 tabs.

  19. Sell honestly, never sell your honesty: revenue management and corporate reputation management

    OpenAIRE

    Wang, Xuan Lorna

    2013-01-01

    This study explores the link between corporate reputation and revenue management practice in the hospitality and tourism industries. It seeks answers to two key questions: first, whether or not there is a link between corporate reputation and revenue management, and second, how revenue management practice may affect corporate reputation, and vice versa. More specifically, it examines whether the negative effects of sales-driven RevM practice has had on customers, such as unfair perception, re...

  20. Corporate foreign exchange speculation and integrated risk management

    DEFF Research Database (Denmark)

    Aabo, Tom; Hansen, Marianna Andryeyeva; Pantzalis, Christos

    2012-01-01

    Purpose – The purpose of this paper is to investigate how non-finance departmental involvement in the management of exchange rate risks impacts the extent of foreign exchange speculation in non-financial firms. Design/methodology/approach – We survey non-financial firms in a small open economy...... (Denmark) to investigate the extent of foreign exchange speculation and how it is related to the degree of non-finance departmental involvement in the management of exchange rate risks. We employ binary and ordered probit regression analysis. Findings – We find a positive link between 1) the extent...... to which other departments than the finance department is involved in the management of exchange rate risks and 2) the extent to which the firm is likely to speculate – whether in the form of selective hedging or active speculation – on the foreign exchange market. Practical implications – Our findings...

  1. Environmental management in the National Power Corporation

    International Nuclear Information System (INIS)

    Petel, M.R.L.

    1996-01-01

    Environmental management in the National Power Corporation (NPC) is enshrined in the corporate charter. Environmental management practice can be traced back to the past purely hydroelectric power generation days, of the corporation. One good thing about nuclear power plant project of NPC, is that it required a formalization and documentation of environmental management, as part of the licensing procedure for the project. Thereafter, environmental management had been strengthened and institutionalized in the corporation. Succeeding years had also witnessed the escalation of the development and diversification of electricity generation sources, including the development of geothermal power, and to a small extent yet, renewable energy, such as wind power. The corporation has also intensified the installation of transmission lines of varying sizes in various locations and has gone, for now, for its internal needs, into telecommunications. With the anticipated further developments in the power sector, i.e., the ever increasing demand for power and the privitization of the power industry, new challenges loom in environmental management for the sector. The parallel developments in the environmental sciences and the collective experiences in power generation and environmental management, locally and abroad, will be very handy in meeting the challenges. The increasing stringency of environmental regulations and standards are also providing continuing challenges to all power utilities like NPC. Globally, the power scenario points towards challenging environmental management requirements, in view of the increasing complexity and gravity of environmental problems facing nations. NPC will still be a player in this scenario and therefore, will need to respond accordingly. (author)

  2. Corporate identity: The concept, its measurement and management

    NARCIS (Netherlands)

    C.B.M. van Riel (Cees); J.M.T. Balmer (John)

    1997-01-01

    textabstractArticulates the main trends in the literature on corporate identity; defines corporate identity; explains the rationale for corporate identity management and describes the main methods used to reveal the desired and the actual corporate identity. Particular reference will be made to two

  3. Corporate ownership structure and risk-taking: evidence from Japan

    OpenAIRE

    SunEae Chun; MinHwan Lee

    2017-01-01

    We examine the relationship between ownership structure and corporate risk-taking in Japan over the sample periods of 2000 2010. Reflecting the ongoing changes in the ownership structure in Japan, we incorporate the various kinds of insider and outsider ownership in the analysis. Ownership such as concentrated ownership, ownership by closely related parties, financial institutions comprising banks and insurance companies and managers are categorized into inside ownership, while ownership by f...

  4. 12 CFR 652.15 - Interest rate risk management and requirements.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Interest rate risk management and requirements... AGRICULTURAL MORTGAGE CORPORATION FUNDING AND FISCAL AFFAIRS Investment Management § 652.15 Interest rate risk... (direction, controls, and supervision) to the interest rate risk management program and must be knowledgeable...

  5. Multinational Corporations and Stock Price Crash Risk

    Directory of Open Access Journals (Sweden)

    Anthony May

    2016-10-01

    Full Text Available A nascent literature in finance and accounting on tail risk in individual stock returns concludes that bad news hoarding by corporate managers engenders sudden, extreme crashes in a firm’s stock price when the bad news is eventually made public. This literature finds that firm-specific crash risk is higher among firms with more severe asymmetric information and agency problems. A hitherto disjointed literature spanning the fields of international business, finance, and accounting suggests that geographic dispersion in a firm’s operations, and especially dispersion across different countries, gives rise to organizational complexities and greater costs of monitoring that can exacerbate asymmetric information and agency problems. Motivated by the confluence of arguments and findings from these two strands of literature, this paper examines whether stock price crash risk is higher among multinational firms than domestic firms. Using a large sample of U.S. headquartered firms during 1987-2011, we find robust evidence that multinational firms are significantly more likely to crash than domestic firms. Moreover, we show that the difference in crash risk between multinational and domestic firms is most acute among firms with weaker corporate governance mechanisms, including weaker shareholder rights, less independent boards, and less stable institutional ownership. Our analysis indicates that stronger monitoring from each of these three governance mechanisms significantly attenuates the positive relation between crash risk and multinationality. Our findings are robust to the use of alternative measures of crash risk and to controlling for known determinants of crash risk identified in prior studies. Our study offers new insights that should hold value for scholars and market participants interested in understanding the implications of heighted agency problems that multinational firms are likely to encounter and scholars and market participants

  6. Corporate governance and the audit committee as part of Corporate Social Responsibility

    OpenAIRE

    Mancilla Rendón María Enriqueta; Saavedra García María Luisa

    2015-01-01

    The purpose of this paper is to study the principles of the international standard ISO 26000, and the relation between social responsibility and internal control rules management organizations establish their business and relationship with Corporate Social Responsibility the board of directors and the audit committee to strengthen corporate trust and manage corporate risk. The research is based on a survey of companies listed on the Mexican stock market, in 2011. The variables have been studi...

  7. How to manage risk better

    CSIR Research Space (South Africa)

    Walwyn, DR

    2002-09-01

    Full Text Available Risk management practices in the R&D departments of many chemical and pharmaceutical companies lack much of the rigor and sophistication of the equivalent corporation in the financial sector. For instance investment decisions on research projects...

  8. Corporate Motivation for Integrated Management System Implementation, Why do Firms Engage in Integration of Management Systems: A Literature Review & Research Agenda

    NARCIS (Netherlands)

    Asif, M.; Asif, M.; de Bruijn, E.J.; Fisscher, O.A.M.

    2008-01-01

    Integration of management systems such as for quality, environment, occupational health and safety, risk management, and corporate social responsibilities is a viable organisational approach to cost reduction, efficient utilization of resources, greater motivation of employees, and better compliance

  9. Corporate Governance Quality and Earnings Management: Evidence from Jordan

    Directory of Open Access Journals (Sweden)

    Sinan S. Abbadi

    2016-06-01

    Full Text Available This paper investigates the effect of corporate governance quality on earnings management in Jordan. Using a panel data set of all industrial and service firms listed on Amman Stock Exchange (ASE during the period 2009-2013; this paper provides evidence that earnings management is affected negatively by corporate governance quality. In particular; the results show that earnings management is affected negatively by overall categories of governance index represented by board of director, board meeting, Audit and nomination and compensation committee. Furthermore, results suggest that corporate governance quality has increased over time. Thus, its ability to constrain earnings management has also increased. It is recommended to industrial and service companies to boost their compliance with corporate governance code to improve the integrity and reliability of financial reports. This paper fills a gap in the literature by providing evidence about the effect of corporate governance quality on earnings management in Jordan as an emerging economy.

  10. The effect of corporate ownership on inventory management by considering corporate governance as a mediator

    Directory of Open Access Journals (Sweden)

    Hossein Mehrabani

    2015-07-01

    Full Text Available In this study, we examine the relationship between corporate ownership and inventory management where corporate governance plays as a mediator. The study selects a sample of 166 selected firms listed on Tehran Stock Exchange using historical data over the period 2009-2013. The study considers the role of managers as shareholder, existence of managers with more than one responsibility and size of board of directors on inventory management. Using regression analysis, the study has disclosed a negative relationship between managers as shareholder and board size on one side and inventory size on the other side. However, the study did not find any evidence on relationship between managers’ dual responsibility as a mediator on relationship between corporate ownership and in inventory management.

  11. Corporate environmental management and information technology

    DEFF Research Database (Denmark)

    Rikhardsson, Pall M.

    2001-01-01

    software, the Internet, computer networks, telecommunications devices, etc. Information technology also has an impact on how companies perform environmental management. This paper looks at the relations between corporate environmental management and information technology. First it presents a framework...... for mapping information technology. Using this framework it focuses on the use of information technology in corporate environmental management, describes the market for standard environmental management information systems and implementation experiences from one large international company.......Information technology has changed, is changing and will continue to change the face of business as we further enter the Information Society. Today it would be difficult for a company to function effectively without the aid of various information technologies such as accounting software, production...

  12. RISK MANAGEMENT PROCESSES IN SUPPLY CHAINS

    Directory of Open Access Journals (Sweden)

    Aleksandar Aleksić

    2009-06-01

    Full Text Available One of the keys of successful business last few years is effective dealing with risks in every meaning of that word. At the time when the world economic crisis largely limits business, successful Risk management is the only way of survival for a large number of business systems. This paper will present the processes of risk management in supply chains that are in accordance with the standards ISO 28000 and ISO 31000. By implementing a holistic, enterprise-wide supply chain risk management program, companies also can uphold their commitment to providing strong corporate governance on behalf of stakeholders and increase their market value.

  13. Risk and Control Developments in Corporate Governance

    DEFF Research Database (Denmark)

    Holm, Claus; Laursen, Peter Birkholm

    2007-01-01

    Are the risk and control developments in corporate governance changing the role of the external auditor? This paper examines how the concepts of risk and control are incorporated in current corporate governance promulgations and analyses the implications for the role of the external auditor....... It is suggested that up till now the corporate governance debate has strengthened the position or role of the internal auditor in the advantage of the role of the external auditor. The promulgations have influenced the internal control mechanisms, and the control responsibilities have become more explicit....... Dominant determinants for the future role of the external auditor seem to be in conflict, namely the value adding function of the audit with an alignment of risk oriented efforts by the auditor and the company versus the notion of "back to basics". The external auditors ought to recognise that they must...

  14. Implementation of the corporate governance code as a measure of an efficiency increasing process in corporate management

    Directory of Open Access Journals (Sweden)

    Ana SPÎNU

    2017-03-01

    Full Text Available The majority of leaders of economic entities in Moldova should recognize the role of effective corporate management for the proper development of their activities. Therefore, to ensure obtaining competitive advantage, the leaders must accept the fact that the policy of improvement of corporate management becomes a major component of enterprise development, and using the principles and best practices of corporate governance are already highlighted both at the level of their enterprises and at international level. Therefore, the authors of the article present some measures to streamline corporate management.

  15. Systematic implementation of clinical risk management in a large university hospital: the impact of risk managers.

    Science.gov (United States)

    Sendlhofer, Gerald; Brunner, Gernot; Tax, Christa; Falzberger, Gebhard; Smolle, Josef; Leitgeb, Karina; Kober, Brigitte; Kamolz, Lars Peter

    2015-01-01

    For health care systems in recent years, patient safety has increasingly become a priority issue. National and international strategies have been considered to attempt to overcome the most prominent hazards while patients are receiving health care. Thereby, clinical risk management (CRM) plays a dominant role in enabling the identification, analysis, and management of potential risks. CRM implementation into routine procedures within complex hospital organizations is challenging, as in the past, organizational change strategies using a top-down approach have often failed. Therefore, one of our main objectives was to educate a certain number of risk managers in facilitating CRM using a bottom-up approach. To achieve our primary purpose, five project strands were developed, and consequently followed, introducing CRM: corporate governance, risk management (RM) training, CRM process, information, and involvement. The core part of the CRM process involved the education of risk managers within each organizational unit. To account for the size of the existing organization, we assumed that a minimum of 1 % of the workforce had to be trained in RM to disseminate the continuous improvement of quality and safety. Following a roll-out plan, CRM was introduced in each unit and potential risks were identified. Alongside the changes in the corporate governance, a hospital-wide CRM process was introduced resulting in 158 trained risk managers correlating to 2.0 % of the total workforce. Currently, risk managers are present in every unit and have identified 360 operational risks. Among those, 176 risks were scored as strategic and clustered together into top risks. Effective meeting structures and opportunities to share information and knowledge were introduced. Thus far, 31 units have been externally audited in CRM. The CRM approach is unique with respect to its dimension; members of all health care professions were trained to be able to identify potential risks. A network of risk

  16. Implementation of total responsibility management into corporate strategy

    OpenAIRE

    Gorenak, Štefka; Bobek, Vito

    2012-01-01

    This contribution reports about relationship and potential synergies between the total quality management (TQM) and total responsibility management (TRM) as well as corporate citizenship. TRM principles and standards reflect the raising public expectations about corporate social responsibility. Many companies develop TRM as requisitely holistically and hence successfully manage their responsibilities toward their stakeholders and natural environment. The evolution and implementation of TRM in...

  17. When Do Companies Need a Board-Level Risk Management Committee?

    OpenAIRE

    Choi, Ivan

    2013-01-01

    Risk management is nothing new. But the global financial crisis and corporate failures in recent years have put risk management in the spotlight. Who is ultimately responsible for it? Responsibility for risk management should start in the boardroom, as the board is ultimately responsible for the organization's decision making, business performance, and value creation, all of which are asso...

  18. Medical cost savings for participants and nonparticipants in health risk assessments, lifestyle management, disease management, depression management, and nurseline in a large financial services corporation.

    Science.gov (United States)

    Serxner, Seth; Alberti, Angela; Weinberger, Sarah

    2012-01-01

    To compare changes in medical costs between participants and nonparticipants in five different health and productivity management (HPM) programs. Quasi-experimental pre/post intervention study. A large financial services corporation. A cohort population of employees enrolled in medical plans (n  =  49,723) [corrected]. A comprehensive HPM program, which addressed health risks, acute and chronic conditions, and psychosocial disorders from 2005 to 2007. Incentives were used to encourage health risk assessment participation in years 2 and 3. Program participation and medical claims data were collected for members at the end of each program year to assess the change in total costs from the baseline period. Analysis . Multivariate analyses for participation categories were conducted comparing baseline versus program year cost differences, controlling for demographics. All participation categories yielded a lower cost increase compared to nonparticipation and a positive return on investment (ROI) for years 2 and 3, resulting in a 2.45∶1 ROI for the combined program years. Medical cost savings exceeded program costs in a wide variety of health and productivity management programs by the second year.

  19. The Impact of Total Risk Management on Company's Performance

    OpenAIRE

    Mohammed, Hamdu Kedir; Knapkova, Adriana

    2016-01-01

    Traditionally risk management used to be considered as a means to alleviate perhaps eliminate negative outcomes of exposures. However, the result of this and other empirical studies shows the ability of risk management to go beyond this and respond to market factors which are out of management control in order to control volatilities in earning which ultimately improve corporate performance. The empirical study investigates the relationship between total risk management and company's performa...

  20. Specific Features of Functioning of the Corporate Tax Management

    Directory of Open Access Journals (Sweden)

    Tkachyk Lesya P.

    2013-12-01

    Full Text Available The article identifies and reveals the essence of functional elements of corporate tax management, which are tax planning, tax analysis, tax accounting and reporting, tax control and tax monitoring. The article builds a functional model of corporate tax management that reflects interaction of its functional elements in the process of realisation of tax activity of economic subjects. Pursuant to this model, the corporate tax management is conducted in several stages, namely: development of alternative variants of tax activity, analysis of alternative variants of tax activity, selection of the optimal variant of tax activity, realisation of tax activity, control over realisation of tax activity and development of measures of increase of efficiency of tax management. Application of the functional model of corporate tax management, which envisages use of all instruments, allows optimisation of tax payments of economic subjects.

  1. The Concept Of A Sustainable Approach To Corporate Real Estate Management

    Directory of Open Access Journals (Sweden)

    Ziemba Ewa

    2015-12-01

    Full Text Available This paper is conceptual in nature and presents the assumptions of a holistic approach to corporate real estate management. The approach is based on the imperative of sustainability, which has become a determinant of the proposed Sustainable Corporate Real Estate Management (SCREM model. Moreover, the authors indicate that in addition to the presence of the sustainability imperative, corporate real estate management requires the integration and formalization of knowledge about the concepts of corporate real estate management (CREM with those of corporate social responsibility (CSR. This approach is intended to enable the identification and improvement of real estate management processes and, as a result, contribute to more efficient and effective corporate real estate management and continuous and flexible development of enterprises, as well as boosting economic growth and building prosperity for present and future generations.

  2. Knowledge discovery based on experiential learning corporate culture management

    Science.gov (United States)

    Tu, Kai-Jan

    2014-10-01

    A good corporate culture based on humanistic theory can make the enterprise's management very effective, all enterprise's members have strong cohesion and centripetal force. With experiential learning model, the enterprise can establish an enthusiastic learning spirit corporate culture, have innovation ability to gain the positive knowledge growth effect, and to meet the fierce global marketing competition. A case study on Trend's corporate culture can offer the proof of industry knowledge growth rate equation as the contribution to experiential learning corporate culture management.

  3. Specifics of corporate management in agribusiness in transitional conditions

    Directory of Open Access Journals (Sweden)

    Vignjević-Đorđević Nada

    2015-01-01

    Full Text Available Corporate governance in agribusiness describes an agency problem resulting from separation of ownership from control in modern corporations and represents a huge cost to the shareholders. The agency problem is regulated by legal protection of minority shareholders, by constituting the Board of Directors as a Supervisory authority to monitor managers and an active agribusiness market for corporate control in agribusiness (against hostile takeover. These mechanisms are regulated by regulations on securities (at the federal level, corporate law (at the state level, and the corporate statutes, regulations and other Contracting Rules (at the company level. These regulations, laws and decrees actually define distribution of power between shareholders and managers. Such techniques of defense against takeover can be beneficial to shareholders, if managers use them to strengthen the bargaining power and increase the selling price of an agribusiness company. However, if managers use it for preservation of position and for the achievement of personal interests these regulations do not contribute to the realization of shareholders' interests.

  4. Global business management for sustainability and competitiveness: The role of corporate branding, corporate identity and corporate reputation

    OpenAIRE

    Gupta, Suraksha; Melewar, T.C.; Czinkota, Michael C.

    2013-01-01

    This special issue of the Journal of World Business is devoted to the role of intangibles of a firm in building sustainable business for success in competitive markets. The research articles included in this issue have contributed to the on-going academic knowledge about the ability of marketing and management practices to drive business sustainability. This special issue on business sustainabili- ty focuses on the role of corporate branding, corporate identity and corporate reputation.

  5. The contracting risks of nuclear power engineering and the risk management strategies

    International Nuclear Information System (INIS)

    Ding Shuying

    2010-01-01

    With the trend of professional operation on the nuclear power engineering (thereafter using NPE for short) construction, the companies specialized on NPE whole-contracting are established one after the other, the mode of NPE whole-contracting has been wide adopted domestically. As people always concern for the safety of nuclear power, the risks exposed to NPE contractors are also concerned with the operator, the NPE corporations and the society. Therefore, it is very meaningful to analyze on the risks exposed to NPE contractors and the strategies they should take, for it not only determines whether the NPE construction will be finished on time, but also related to sustainable development of the NPE contracting corporations. The main content of this paper includes the analysis on the features and advantages of NPE whole contracting, the major NPE contracting risks, such as nuclear safety risks, strategic risks, market risks, legal risks, financial risks and operation risks, and the strategies to prevent or to control these risks. The paper focuses on identifying those business processes which risks may frequently take place, and how to manage them, illustrating practice cases to explain the theory, in order to make reference to NPE corporations. (author)

  6. CORPORATE GOVERNANCE MECHANISMS AND EARNINGS MANAGEMENT: A STATE OF THE ART

    Directory of Open Access Journals (Sweden)

    Vladu Alina Beattrice

    2015-07-01

    Full Text Available Extant research have for long identified that corporate governance has the potential to affect both financial performance and the opportunistic behavior of managers. Studies on the influence of corporate governance mechanisms on firm performance do not often assess the possibility that reported earnings can be misrepresented by managers with the scope of achieving various objectives. This paper examines the relationship between corporate governance mechanisms and earnings management practices. According to prior empirical studies in the field, corporate governance can reduce the extent of manipulative practices and increase the quality of financial reporting. As stated above, this study examined prior research investigating different corporate governance mechanisms that can have negative impact on earnings management practices. In this regard the legal system and the effects of takeover were examined as external mechanisms of corporate governance on manipulative behavior of managers. Internal mechanisms of corporate governance were also assessed. Board independence was found to enhance certain monitoring behaviors of managers while an audit committee can oversee the internal control for financial reporting and the quality of financial information. This paper contributes to corporate governance literature by providing detailed reviews of different corporate governance mechanisms on the most documented practice of creative accounting: earnings management. Limits of the current research are explored as well as the scope for future research.

  7. Leveraging Enterprise Risk Management: Opportunity for Greater Relevance

    Science.gov (United States)

    Abraham, Janice M.; Baird, Robert; Neugebauer, Frank

    2013-01-01

    Enterprise Risk Management (ERM) gained a foothold in higher education during the first decade of the 21st century. College and university governing board members came to their board service with the perspective and experience of having served on corporate boards and in corporate leadership positions where ERM was in active use. Trustees asked…

  8. Can "reputation management" overcome failures in corporate governance?\\ud

    OpenAIRE

    Watson, Tom

    2006-01-01

    Poor corporate governance appears to undo all the efforts of corporate communication activities in promoting and managing reputation. Is it a factor of poor leadership by senior management or a generalised failure of organisational relationships?

  9. Integrating Corporate Governance Concepts in the Classroom with the Risk Assessment Project

    Science.gov (United States)

    Elson, Raymond J.; O'Callaghan, Susanne; Walker, John P.

    2015-01-01

    The recession of 2008 and the demise of established financial firms served as a reminder that effective corporate governance is important to ensure that businesses remain as going concern. One key area is the implementation of effective enterprise-wide risk management practices. The resulting regulatory oversight enacted through the Dodd Frank Act…

  10. GENERAL RISKS AND UNCERTAINTIES OF REPORTING AND MANAGEMENT REPORTING RISKS

    Directory of Open Access Journals (Sweden)

    CAMELIA I. LUNGU

    2011-04-01

    Full Text Available Purpose: Highlighting risks and uncertainties reporting based on a literature review research. Objectives: The delimitation of risk management models and uncertainties in fundamental research. Research method: Fundamental research study directed to identify the relevant risks’ models presented in entities’ financial statements. Uncertainty is one of the fundamental coordinates of our world. As showed J.K. Galbraith (1978, the world now lives under the age of uncertainty. Moreover, we can say that contemporary society development could be achieved by taking decisions under uncertainty, though, risks. Growing concern for the study of uncertainty, its effects and precautions led to the rather recent emergence of a new science, science of hazards (les cindyniques - l.fr. (Kenvern, 1991. Current analysis of risk are dominated by Beck’s (1992 notion that a risk society now exists whereby we have become more concerned about our impact upon nature than the impact of nature upon us. Clearly, risk permeates most aspects of corporate but also of regular life decision-making and few can predict with any precision the future. The risk is almost always a major variable in real-world corporate decision-making, and managers that ignore it are in a real peril. In these circumstances, a possible answer is assuming financial discipline with an appropriate system of incentives.

  11. Linking corporate strategy and supply chain management

    OpenAIRE

    Hofmann, Erik

    2009-01-01

    Purpose of this paper: The paper researches the linkages between corporate and supply chain strategy. It represents a stage of an on-going research initiative aimed at providing a framework for understanding systematically the integration of corporate strategy making and supply chain management. Design/methodology/approach: The paper engaged itself in the theory/literature related to strategic and supply chain management. Four generic levels of strategy are linked to supply chain ma...

  12. Pengaruh Implementasi Good Corporate Governance terhadap Permodalan dan Kinerja Perbankan Di Indonesia: Manajemen Risiko Sebagai Variabel Intervening

    Directory of Open Access Journals (Sweden)

    Ika Permatasari

    2014-05-01

    Full Text Available Regulation of Bank Indonesia No. 8/4/PBI/2006 as amended by regulation No. 8/14/2006 about implementation of corporate governance become be a proof why corporate governance important in the banking sector. The purpose of this study was to determine the influence of corporate governance on risk management, bank capital, and bank performance in Indonesia.  Implementation on corporate governance is measured by a composit score of corporate governance which is the result of bank self assessment. Risk management is measured by Non Performing Loans (NPL. Bank capital is measured by Capital Adequacy Ratio (CAR and bank performance is measured by Return On Equity (ROE. The result showed that corporate governance affect risk management, corporate governance and risk management does not affect bank capital, and corporate governance do not affect bank performance, but risk management affect bank performance. Thus the risk management can be an intervening variable between corporate governance and bank performance.

  13. Entrprise Risk Management : Das COSO-ERM-Framework

    OpenAIRE

    Ruud, Flemming; Sommer, Katerina

    2006-01-01

    Das Enterprise Risk Management (ERM) ist ein wichtiges Element der Corporate Governance. Es kann Unternehmen bei der Zielerreichung unterstützen, indem es hilft, Chancen und Risiken zu erkennen und geeignete Massnahmen zu ergreifen. Die Weiterentwicklung des Internal-Control-Framework zu einem Enterprise-Risk-Management-Framework, dessen Grund sätze, Ziele und Komponenten, dessen Nutzen und Grenzen sowie die Unterschiede zum ursprünglichen COSO-ICFramework ist Gegenstand dieses Artikels.

  14. Corporate Shareholding and Agency Cost

    OpenAIRE

    Nakano, Katsura

    2001-01-01

    This paper incorporates the agency problem with a risk-sharing argument for corporate shareholding. With a unilateral investment model, we findconditions for a positive stock investment : (1)the manager is risk averse; (2)her managerial reward is linked with the value of the firm she manages; and (3)the operating profits of investing and invested companies is negatively correlated. Corporate investment is larger if the invested company's operating profit is less vo1atile and/or if the covaria...

  15. PENGARUH GOOD CORPORATE GOVERNANCE, DAN UKURAN PERUSAHAAN, TERHADAP PENGUNGKAPAN ENTERPRISE RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Feby Intan Trinanda

    2017-05-01

    Full Text Available Tujuan dari penelitian ini adalah untuk menganalisis pengaruh reputasi auditor, keberadaan risk management committee, ukuran perusahaan, dan struktur kepemilikan publik terhadap pengungkapan enterprise risk management. Populasi dari penelitian ini adalah perusahaan property dan real estate yang terdaftar di Bursa Efek Indonesia (BEI tahun 2012-2013 berjumlah 48 perusahaan. Teknik pengambilan sampel dengan purposive sampling. Sampel yang masuk kriteria sebanyak 24 perusahaan dengan 48 unit analisis. Metode analisis penelitan ini menggunakan regresi linear berganda. Hasil penelitian ini menunjukkan bahwa reputasi auditor, dan struktur kepemilikan publik berpengaruh positif signifikan terhadap pengungkapan enterprise risk management. Sedangkan keberadaan risk management committee, dan ukuran perusahaan tidak memiliki pengaruh signifikan terhadap pengungkapan enterprise risk management. Penelitian selanjutnya sebaiknya mengidentifikasi variabel lain yang memiliki pengaruh terhadap pengungkapan enterprise risk management. This study ains to analyze the effect of auditor reputation, risk management committee, firm size, and public ownership structure on enterprise risk management disclosure. The population of this study is all property and real estate companies listed in Indonesia Stock Exchange (IDX year of 2012 to 2013, amount to 48 companies. The study uses purposive sampling. The companies that meet requirements stated by this study were 24 companies with 48 data in term of financial reports. Methods of data analyze used in this study is multiple linear regression. The results of this study show that auditor reputation and public ownership structure has significant effect on enterprise risk management disclosure. Meanwhile, risk management committee and firm size do not have significant effect of enterprise risk management disclosure. Other researchers should identify other variable that have potential influence on firm value, such as public

  16. From Management Systems to Corporate Social Responsibility

    NARCIS (Netherlands)

    Zwetsloot, G.I.J.M.

    2003-01-01

    At the start of the 21st century, Corporate Social Responsibility (CSR) seems to have great potential for innovating business practices with a positive impact on People, Planet and Profit. In this article the differences between the management systems approach of the nineties, and Corporate Social

  17. Social and Environmental Issues in Corporative Management: A Romanian Story

    Directory of Open Access Journals (Sweden)

    Cornelia DASCĂLU

    2011-12-01

    Full Text Available The complex process of monitoring entities environmental impact entails ability, respect for the environment and reduction of the ecological footprint. This research defines Romanian trends as regards the effects and actions to adapt to climate change and characterizes corporate management in terms of compliance with environmental management systems requirements. The main objective is to assess the current state of environmental management implementation and identifies relevant social and environmental issues that companies use to include in corporate management. The current agenda would allow developing a framework for environmental management implementation in Romanian entities, in order to assume the corporate social responsibility.

  18. Enterprise Risk Management : Das COSO-ERM-Framework

    OpenAIRE

    Ruud, Flemming; Sommer, Katerina

    2006-01-01

    Das Enterprise Risk Management (ERM) ist ein wichtiges Element der Corporate Governance. Es kann Unternehmen bei der Zielerreichung unterstützen, indem es hilft, Chancen und Risiken zu erkennen und geeignete Massnahmen zu ergreifen. Die Weiterentwicklung des Internal-Control-Framework zu einem Enterprise-Risk-Management-Framework, dessen Grund sätze, Ziele und Komponenten, dessen Nutzen und Grenzen sowie die Unterschiede zum ursprünglichen COSO-ICFramework ist Gegenstand dieser Ausführunge...

  19. Forming the corporate strategy of cost management of an industrial enterprise

    Directory of Open Access Journals (Sweden)

    Timur Vladimirovich Kramin

    2015-03-01

    Full Text Available Objective to develop and substantiate one of the mechanisms of corporate strategy formation of an industrial enterprise cost management. Methods institutional cost and systemic approaches. Results in the article the classification of corporate strategies is elaborated in the framework of the cost management system. In accordance with the structure of the cost management system the classification of corporate strategy is used which is universal from the point of view of cost management integration at the level of managerial decisionmaking integration at the level of key competencies integration at the level of cost factors integration at integrativecost level. Each of these types of integration involves vertical and horizontal integration. Scientific novelty in the article the corporate strategies classification is elaborated in the framework of the cost management system. Practical value a holistic systemic approach to the corporate strategy classification facilitates the search selection and forming of optimal corporate strategy for each specific business. The main tool of this choice is the concept of cost management. nbsp

  20. Health Applications for Corporate Health Management.

    Science.gov (United States)

    Steigner, Guido; Doarn, Charles R; Schütte, Michael; Matusiewicz, David; Thielscher, Christian

    2017-05-01

    Many corporate organizations around the world are looking at new ways to improve the health and well-being of their employees. Many have begun to use m-health approaches and unique applications (apps) to provide assistance. In Germany, both m-health and occupational health management (OHM) are growing quickly. Therefore, we hypothesized that the combination-apps usage in OHM-is growing as well. We studied the usage of health apps in large corporations for health management of employed individuals. To understand the environment in Germany, a two-part study was conducted. First, an extensive literature search was done and second, interviews were conducted with 12 of the 20 biggest companies' health management representatives. Using key search terms, 5,445 peer-reviewed journal articles traced with German databases and on PubMed were reviewed. Interestingly and somewhat surprising to the authors, none of them covered our specific topic. Interviews were conducted with 60% of the companies indicated. Only 3 out of 12 companies use apps. Four companies are piloting apps. With one exception, apps cover well-known areas such as food coaching, physical motion, smoking cessation, stress prevention, and other health-related subjects. One app used sensors in work clothing to prevent unhealthy motion. With a few exceptions, there has been no evaluation of the utility and utilization of apps. Current app usage in corporate health management in Germany is surprisingly low. Apps need to be better evaluated. Main obstacles-which could be resolved in the future-are legal restrictions (especially on data security), the lack of company-owned smart phones, misfit of apps and corporate health strategy, a lack of app evaluation, and high app prices.

  1. Social Impact Management Plans: Innovation in corporate and public policy

    Energy Technology Data Exchange (ETDEWEB)

    Franks, Daniel M., E-mail: d.franks@uq.edu.au [Centre for Social Responsibility in Mining, The University of Queensland, Sustainable Minerals Institute, St Lucia, Brisbane, Queensland 4072 (Australia); Vanclay, Frank, E-mail: frank.vanclay@rug.nl [Department of Cultural Geography, Faculty of Spatial Sciences, The University of Groningen, P.O. Box 800, 9700 AV Groningen (Netherlands)

    2013-11-15

    Social Impact Assessment (SIA) has traditionally been practiced as a predictive study for the regulatory approval of major projects, however, in recent years the drivers and domain of focus for SIA have shifted. This paper details the emergence of Social Impact Management Plans (SIMPs) and undertakes an analysis of innovations in corporate and public policy that have put in place ongoing processes – assessment, management and monitoring – to better identify the nature and scope of the social impacts that might occur during implementation and to proactively respond to change across the lifecycle of developments. Four leading practice examples are analyzed. The International Finance Corporation (IFC) Performance Standards require the preparation of Environmental and Social Management Plans for all projects financed by the IFC identified as having significant environmental and social risks. Anglo American, a major resources company, has introduced a Socio-Economic Assessment Toolbox, which requires mine sites to undertake regular assessments and link these assessments with their internal management systems, monitoring activities and a Social Management Plan. In South Africa, Social and Labour Plans are submitted with an application for a mining or production right. In Queensland, Australia, Social Impact Management Plans were developed as part of an Environmental Impact Statement, which included assessment of social impacts. Collectively these initiatives, and others, are a practical realization of theoretical conceptions of SIA that include management and monitoring as core components of SIA. The paper concludes with an analysis of the implications for the practice of impact assessment including a summary of key criteria for the design and implementation of effective SIMPs. -- Highlights: • Social impact management plans are effective strategies to manage social issues. • They are developed in partnership with regulatory agencies, investors and community.

  2. Social Impact Management Plans: Innovation in corporate and public policy

    International Nuclear Information System (INIS)

    Franks, Daniel M.; Vanclay, Frank

    2013-01-01

    Social Impact Assessment (SIA) has traditionally been practiced as a predictive study for the regulatory approval of major projects, however, in recent years the drivers and domain of focus for SIA have shifted. This paper details the emergence of Social Impact Management Plans (SIMPs) and undertakes an analysis of innovations in corporate and public policy that have put in place ongoing processes – assessment, management and monitoring – to better identify the nature and scope of the social impacts that might occur during implementation and to proactively respond to change across the lifecycle of developments. Four leading practice examples are analyzed. The International Finance Corporation (IFC) Performance Standards require the preparation of Environmental and Social Management Plans for all projects financed by the IFC identified as having significant environmental and social risks. Anglo American, a major resources company, has introduced a Socio-Economic Assessment Toolbox, which requires mine sites to undertake regular assessments and link these assessments with their internal management systems, monitoring activities and a Social Management Plan. In South Africa, Social and Labour Plans are submitted with an application for a mining or production right. In Queensland, Australia, Social Impact Management Plans were developed as part of an Environmental Impact Statement, which included assessment of social impacts. Collectively these initiatives, and others, are a practical realization of theoretical conceptions of SIA that include management and monitoring as core components of SIA. The paper concludes with an analysis of the implications for the practice of impact assessment including a summary of key criteria for the design and implementation of effective SIMPs. -- Highlights: • Social impact management plans are effective strategies to manage social issues. • They are developed in partnership with regulatory agencies, investors and community.

  3. MANAGING THE USE OF DERIVATIVE INSTRUMENTS FOR PORTFOLIO RISK PURPOSES

    Directory of Open Access Journals (Sweden)

    Mădălina Antoaneta RĂDOI

    2017-05-01

    Full Text Available The priority in portfolio management is a good risk assessment and management. Of great importance is the margin that an asset portfolio guarantor must use with specific expertise in certain areas of market temporal inefficiency in order to improve its management performance. The relevant validity of the financial market and the emphasis laid on risk management carried along the development of financial instruments tailored to risk management. New derivative financial instruments have revolutionized the methods of portfolio management, of corporate treasury management, of banking management and, more generally, all financial strategies.

  4. From CSR to Social Risk Management

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2014-01-01

    When it comes to social risks multinational companies (MNC) within Mining are one of the most exposed businesses one can imagine. This paper examines how social risk management is practiced through the case of Teghout copper-molybdenum mine in North- Eastern Armenia, supplemented with evidence from...... other mining MNCs in the country, onsite fieldwork, interviews with key stakeholders, and public available information. This evidence suggest that a standards based social risk management strategy is adopted and that this strategy is based on international Corporate Social Responsibility (CSR) standards...... engagement management systems that is promoted through the standard. The implemented social risk management systems are ineffective because they makes the MNC unable to recognise the value of weak ties and fail to build legitimacy and trust with some of the key stakeholders resulting in the creation of more...

  5. Applying Best Business Practices from Corporate Performance Management to DoD

    Science.gov (United States)

    2013-01-01

    leading or governing large, complex corporations and are experienced in creating reliable solutions to complex management issues guided by best business ...recommendations and effective solutions aimed at improving DoD. Defense Business Board Corporate Performance Management REPORT FY13-03 Task...Group 1 Applying Best Business Practices from Corporate Performance Management to DoD TASK The Deputy Secretary of Defense (DEPSECDEF

  6. Governance of environmental risk: new approaches to managing stakeholder involvement.

    Science.gov (United States)

    Benn, Suzanne; Dunphy, Dexter; Martin, Andrew

    2009-04-01

    Disputes concerning industrial legacies such as the disposal of toxic wastes illustrate changing pressures on corporations and governments. Business and governments are now confronted with managing the expectations of a society increasingly aware of the social and environmental impacts and risks associated with economic development and demanding more equitable distribution and democratic management of such risks. The closed managerialist decision-making of the powerful bureaucracies and corporations of the industrial era is informed by traditional management theory which cannot provide a framework for the adequate governance of these risks. Recent socio-political theories have conceptualised some key themes that must be addressed in a more fitting approach to governance. We identify more recent management and governance theory which addresses these themes and develop a process-based approach to governance of environmental disputes that allows for the evolving nature of stakeholder relations in a highly complex multiple stakeholder arena.

  7. 12 CFR 1710.19 - Compliance and risk management programs; compliance with other laws.

    Science.gov (United States)

    2010-01-01

    ... OVERSIGHT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SAFETY AND SOUNDNESS CORPORATE GOVERNANCE Corporate Practices and Procedures § 1710.19 Compliance and risk management programs; compliance with other laws. (a...

  8. ANALYSIS OF THE FOREIGN GOVERNMENT AND CORPORATE PROCUREMENT MANAGEMENT EXPERIENCE

    Directory of Open Access Journals (Sweden)

    Vladimir Vladimirovich Savchenko

    2016-01-01

    Full Text Available This article presents a synthesis of the experience of foreign government and corporate procurement management. Set out key aspects of the organization of procurement for government and corporate needs, disclosed issues of centralization and decentralization of procurement, as well as given clarifi cation of the concept of "procurement management system" and structured the main elements that make up this system. The purpose / goal. The purpose of the work is to study the nature and characteristics of the functioning of government and corporate experience in procurement management, identifying problems and prospects of its development. Methodology. To perform this work were used legal, comparative and statistical analysis methods. Results. As part of the presentation of the present article the author has examined the nature, objectives and stages of public and corporate procurement management.

  9. Risk Management - Variance Minimization or Lower Tail Outcome Elimination

    DEFF Research Database (Denmark)

    Aabo, Tom

    2002-01-01

    on future cash flows (the budget), while risk managers concerned about costly lower tail outcomes will hedge (considerably) less depending on the level of uncertainty. A risk management strategy of lower tail outcome elimination is in line with theoretical recommendations in a corporate value......This paper illustrates the profound difference between a risk management strategy of variance minimization and a risk management strategy of lower tail outcome elimination. Risk managers concerned about the variability of cash flows will tend to center their hedge decisions on their best guess......-adding perspective. A cross-case study of blue-chip industrial companies partly supports the empirical use of a risk management strategy of lower tail outcome elimination but does not exclude other factors from (co-)driving the observations....

  10. Influence of green supply chain risk management on performance of Chinese manufacturing enterprises

    Science.gov (United States)

    Zhang, Dongying; Yuting, Duan; Junyi, Shen

    2017-12-01

    This paper briefly introduces the background of the research on the impact of green supply chain risk management on corporate performance, reviews the relevant research literature at home and abroad, and uses the gray relational analysis to analyze the impact of the green supply chain risk management on enterprise performance based on 26 industry-related statistical data, from purchasing risk management performance,manufacturing risk management performance and marketing risk management performance.

  11. Formation and importance of corporate culture in the system of management

    Directory of Open Access Journals (Sweden)

    A. V. Bogomolov

    2017-01-01

    Full Text Available The article considers corporate culture as a management tool in the economic model of the activity underlying the organization of management of all factors of production (labor, materials, capital and information. Companies with well developed corporate culture are developing successfully. Weak corporate culture can become a source of deep crisis of the entrepreneurial structure. It is emphasized that the set of factors influencing the development of entrepreneurial structures must be supplemented with a factor of effective corporate culture. Reforms aimed at changes in property relations require the creation of an adequate organizational and economic mechanism for the management of corporate enterprises, taking into account current trends in the concentration and specialization of agro-industrial production. A corporate culture is presented that includes the strategic objective of the firm; Standards of personnel behavior; Structural characteristics of personnel, nature, content, working conditions and methods of its organization; Incentive system; System of personnel training. The types of corporate culture and their features are singled out, namely the culture of power, the culture of roles, the culture of tasks and the culture of individuals. The unique essence of the corporate culture, the complexity of its assessment, create certain problems in the management of corporate culture. Corporate culture provides an opportunity to competently and effectively manage the organization. A strong and solid corporate culture is a necessary attribute of a successful company, as it unites employees who identify with their organization and strive to achieve a common goal by joint efforts. In such a company, key corporate values are shared by all members of the organization, the dominant culture strongly influences the behavior of employees, the need for high structuring and formalization of the company’s activity disappears, and the turnover of staff

  12. ePORT, NASA's Computer Database Program for System Safety Risk Management Oversight (Electronic Project Online Risk Tool)

    Science.gov (United States)

    Johnson, Paul W.

    2008-01-01

    ePORT (electronic Project Online Risk Tool) provides a systematic approach to using an electronic database program to manage a program/project risk management processes. This presentation will briefly cover the standard risk management procedures, then thoroughly cover NASA's Risk Management tool called ePORT. This electronic Project Online Risk Tool (ePORT) is a web-based risk management program that provides a common framework to capture and manage risks, independent of a programs/projects size and budget. It is used to thoroughly cover the risk management paradigm providing standardized evaluation criterion for common management reporting, ePORT improves Product Line, Center and Corporate Management insight, simplifies program/project manager reporting, and maintains an archive of data for historical reference.

  13. Corporate Governance in Banks and its Impact on Risk and Performance: Review of Literature on the Selected Governance Mechanisms

    Directory of Open Access Journals (Sweden)

    Himaj Shkendije

    2014-09-01

    Full Text Available Corporate governance is viewed as an important, essential, and most significant factor for well-functioning of firms. Recent academic work and policy analyses have given insight into the governance problems in banks exposed to the financial crisis and suggest possible solutions. This paper begins by explaining the importance of corporate governance and its impact on risk taking and bank performance based on the theoretical background relevant to the corporate governance of banks. I combine the literature that looks at three areas of governance: ownership structure; board structure; and risk management, with the literature on risk-taking and performance effects in order to better assess the weight of the impact that these governance mechanisms have on both performance and risk. The paper concludes by highlighting the areas where further research is needed.

  14. MEKANISME CORPORATE GOVERNANCE, ENTERPRISE RISK MANAGEMENT, DAN NILAI PERUSAHAAN PERBANKAN

    Directory of Open Access Journals (Sweden)

    Bestari Dwi Handayani

    2017-05-01

    Full Text Available The purpose of this study was to examine corporate governance mechanism. This study also examines the effect of mediation of ERM on relationships corporate governance mechanism and the value of company. The population of this research is financial sector companies listed on the Indonesia Stock Exchange. Sample selection using purposive sampling. This study uses path analysis in hypothesis testing and Sobel test for testing mediation ERM. The results of this study indicate that there is significant influence between corporate governance mechanisms (managerial ownership, institutional ownership, independent commissioner and audit committee with the value of company. This study provides evidence that ERM mediating influence between institutional ownership, independent directors and audit committee with company’s value, but not significant in mediating the effect of managerial ownership. Penelitian ini bertujuan untuk menguji mekanisme corporate governance. Penelitian ini juga menguji pengaruh mediasi dari ERM pada hubungan mekanisme corporate governance dan nilai perusahaan tersebut. Populasi penelitian ini adalah perusahaan sektor keuangan yang terdaftar di Bursa Efek Indonesia (BEI. Teknik pemilihan sampel menggunakan purposive sampling. Penelitian ini menggunakan analisis jalur (path analysis dalam pengujian hipotesis dan sobel test untuk pengujian mediasi ERM. Hasil penelitian ini menunjukkan bahwa terdapat pengaruh signifikan antara mekanisme corporate governance (kepemilikan manajerial, kepemilikan institusional, komisaris independen, dan komite audit dengan nilai perusahaan. Penelitian ini memberikan bukti bahwa ERM memediasi pengaruh antara kepemilikan institusional, komisaris independen, dan komite audit terhadap nilai perusahaan. Namun tidak signifikan dalam memediasi pengaruh kepemilikan manajerial.

  15. Corporate Governance and Strategic Management Accounting Disclosure

    Directory of Open Access Journals (Sweden)

    Setianingtyas Honggowati

    2017-06-01

    Full Text Available The aim of this study is to examine the corporate governance influence on strategic management accounting disclosure. The strategic management accounting disclosure in this study was measured by the disclosure level regarding strategic management accounting published in the company's annual report according to the index (made by the author. The corporate governance is proxied by board size, independent board, and managerial ownership. The data of this study are 497 manufacturing companies in Indonesia in the period of 2011-2015 and the method employed in this study is regression analysis method. The findings show that board size has significant positive influence on the disclosure level of strategic management accounting of manufacturing companies in Indonesia, and the proportion of independent board does not influence SMA disclosure, while managerial ownership has negative influence the disclosure level of strategic management accounting.

  16. Corporate Governance and Bank Insolvency Risk : International Evidence

    NARCIS (Netherlands)

    Anginer, D.; Demirguc-Kunt, Asli; Huizinga, H.P.; Ma, K.

    2014-01-01

    This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton’s distance to default measure, for an international sample of banks over the 2004-2008 period. Banks are special in that ‘good’ corporate

  17. Corporate Governance and Bank Insolvency Risk : International Evidence

    NARCIS (Netherlands)

    Anginer, D.; Demirguc-Kunt, A.; Huizinga, H.P.; Ma, K.

    This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton’s distance to default measure, for an international sample of banks over the 2004-2008 period. Banks are special in that ‘good’ corporate

  18. Integration of Strategic Management, Governance and Risk Management: Impact of the Crisis of 2008 in Two Companies of Food

    Directory of Open Access Journals (Sweden)

    Antonio Francisco de Almeida da Silva Junior

    2013-12-01

    Full Text Available During the crisis of 2008, several Brazilian companies have accumulated losses that worth billions, as the result of a high foreign exchange rate exposure and failures in risk management and Corporate Governance. The aim of this research is to identify the strategic factors that contributed to two very similar companies to follow different paths in the financial crisis of 2008. To better understanding the subject, it was made a brief analysis of the foundations of the Corporate Governance, the requirements listed by BM&FBOVESPA and the principles of the financial risk management. The research identified that the practice of risk management is crucial in implementing best practices of corporate governance and that despite numerous initiatives of various institutions and regulators in establishing self-regulatory mechanisms to ensure the use of these practices, there are still flaws able to allow companies previously considered solid incurring in strategies that may jeopardize its existence.

  19. The Role of Board of Directors in the Establishment of Risk Management Committee

    Directory of Open Access Journals (Sweden)

    Ishak Suhaimi

    2017-01-01

    Full Text Available The objective of the study is to discuss the roles of board of directors in the establishment of risk management committee for Malaysian’s public listed companies. In Malaysia, based on the Malaysian Code on Corporate Governance (MCCG, (2007; 2012 clearly stated the role and responsibility of the board of directors toward the risk management activities. At the Corporate Governance Week 2010 and 2011 as well, the chairman of the Security Commission Malaysia highlighted the responsibility of the board of directors in risk management processes and she expressed concern over the failure of the board of directors to establish appropriate measures for the risk management process in the company. The statement of the chairman of Security Commission Malaysia is in line with MCCG’s best practices (2000; 2007; 2012, i.e., the board of directors should identify principle risks and ensure the implementation of an appropriate system to manage these risks.

  20. Forming the corporate strategy of cost management of an industrial enterprise

    OpenAIRE

    Timur Vladimirovich Kramin; Irina Viktorovna Mirgaleyeva

    2015-01-01

    Objective to develop and substantiate one of the mechanisms of corporate strategy formation of an industrial enterprise cost management. Methods institutional cost and systemic approaches. Results in the article the classification of corporate strategies is elaborated in the framework of the cost management system. In accordance with the structure of the cost management system the classification of corporate strategy is used which is universal from the point of view of cost...

  1. The Role of Board of Directors in the Establishment of Risk Management Committee

    OpenAIRE

    Ishak Suhaimi; Mohamad Nor Mohamad Naimi

    2017-01-01

    The objective of the study is to discuss the roles of board of directors in the establishment of risk management committee for Malaysian’s public listed companies. In Malaysia, based on the Malaysian Code on Corporate Governance (MCCG), (2007; 2012) clearly stated the role and responsibility of the board of directors toward the risk management activities. At the Corporate Governance Week 2010 and 2011 as well, the chairman of the Security Commission Malaysia highlighted the responsibility of ...

  2. Risk management is every managers’ responsibility: Are HR practitioners ready for the challenge

    Directory of Open Access Journals (Sweden)

    Pascal Siphelele Zulu

    2014-07-01

    Full Text Available Risk and Enterprise Risk Management has become a strategic imperative in most organisations and government departments over the years. Most company boards and government entities in South Africa have adopted various corporate governance frameworks as a mechanism to direct and control the operations of their organisations. As a result, risk management and enterprise risk management has become every manager’s responsibility. The key question that the study investigates is whether HR managers are aware of this strategic imperative and ready to be risk champions in their environment. Data was collected from forty eight (48 HR Managers and Practitioners from private companies and sixty eight (68 HR Managers and Practitioners from government departments and government companies in Durban, Kwazulu-Natal and Cape Town, Western Cape using both personal interviews and questionnaires which were distributed to one hundred and fifty (150 employees, of which one hundred and sixteen (116 questionnaires were completed (return rate 77.3%. The results of this paper indicate that, in general and across all sectors, HR practitioners’ levels of understanding of corporate governance and risk management is limited

  3. Corporate Reputation Management: Reaching Out to Financial Stakeholders

    OpenAIRE

    Wang, Yijing

    2013-01-01

    textabstractCorporate reputation is important for firms’ long-term performance and competitive advantages. This dissertation sets out to understand the relationship between corporate reputation and a company’s attractiveness to financial stakeholders from different angles. Specifically, I examine the role of corporate reputation in the context of the agency problem to explain the causal chain through which the uncertainties and risks are mitigated for investors. This dissertation contributes ...

  4. Reducing the risk, managing safety.

    Science.gov (United States)

    Aldridge, Peter

    2016-02-01

    Fire safety in healthcare premises has always been a challenge to those that discharge this duty. Statutory compliance should be a matter of course, but in an ever increasingly challenged NHS, even this is not a given. While the NHS is driven by managing very complex risk to deliver cutting edge healthcare, providers cannot be risk averse. Which risk, however, takes priority? Here Peter Aldridge, fire and corporate services manager at Leeds Teaching Hospitals NHS Trust, and Secretary to the National Association of Healthcare Fire Officers (NAHFO)--which will this month and next jointly stage fire safety seminars with IHEEM; see page 8--considers the key issues, with input from a fire officer at a leading mental health and community Trust.

  5. Usage of Option Contracts for Foreign Exchange Risk Management

    Directory of Open Access Journals (Sweden)

    Daniel Armeanu

    2007-06-01

    Full Text Available Today in Romania, in the context of the liberalization of the capital account and under a floating exchange rate (official is a managed floating currency regime established by National Bank of Romania the foreign exchange rate is very volatile. In consequence the financial institutions, corporations and, especially, the importers and exporters have to deal with a big exposition of currency risk related with their activities. Financial institutions and corporations today must adopt new roles in order to compete successfully in the explosively evolving foreign exchange markets. The methods, instruments and techniques used to manage foreign exchange risk are more complex than ever before. The objective of our paper is to provide the techniques and insights needed to pinpoint opportunities and control risks. We will present the most modern practical methods for managing the currency risk: option strategies (spread, strangle, straddle, etc. Also we will present the advantage, the disadvantage and our opinions related with the use of currency derivatives instruments (especially currency strategies options, making a comparative analysis.

  6. Management Risk Reporting Practices and their determinants

    OpenAIRE

    VANDEMAELE, Sigrid; VERGAUWEN, Philip; MICHIELS, Anneleen

    2009-01-01

    In recent years, the need for effective risk management, internal control and transparent risk reporting has become an important corporate governance principle and a predominant issue in business. Already in 1987, the AICPA[ ] report stated that shareholders are increasingly demanding that financial statements include more information concerning the risks and uncertainties companies are facing (Schrand and Elliott, 1998). Abraham and Cox (2007) claim that this information can help investors t...

  7. Linking Leadership Studies to Corporate Brand Management: A Review

    OpenAIRE

    Zullina H. Shaari; Amzairi Amar; M. Radzi Zainol; Azamudin Badri Harun

    2015-01-01

    Two models of corporate brand or reputation management include ¡°leadership and success¡± as a dimension that influences reactions of multiple stakeholders to organisations. Primary groups of stakeholders such as shareholders/investors, employees, and customers, often associate leadership of organisations with Chief Executive Officers (CEOs) or managing directors. This paper proposes that if CEOs are to be capitalised as part of corporate brand management, their leadership should be projected...

  8. Holonic Crisis Handling Model for Corporate Sustainability

    Directory of Open Access Journals (Sweden)

    Levente Bakos

    2017-12-01

    Full Text Available The new approaches of risk and crisis management of organizations point to corporate responsibility and corporate sustainability. In the ‘Internet of Everything’ era, when the new media and social networks create the possibility to ruin in a few seconds the reputation of a company built in decades, it is important to afford the maximum attention to risk management and crisis communication. Long-term sustainability requires a transparent, trustful communication in due time. In our study, we propose a crisis management model that leads to sustainable corporate behaviour. We consider organizations as complex systems, and we use the holonic multiagent modelling concept to depict the emergent behaviour of these systems. This theoretical paper has as its main result a crisis communication model, based on the adaptability feature of holons. In our non-linear approach for unpredictable situations we merged some findings of sustainability theory, corporate social responsibility (CSR management, crisis communication, the holonic manufacturing concept and the latest security standards in computer communication.

  9. Risk management at GPU Nuclear

    International Nuclear Information System (INIS)

    Long, R.L.

    1991-01-01

    This paper reports on GPU Nuclear. Among other goals, it established the independence of key safety functions as highlighted by the lessons learned from the accident. In particular, an independent Nuclear Assurance Division was established which include Quality Assurance, Training and Education, Emergency Preparedness, and Nuclear Safety Assessment. The latter consisted of corporate and site independent-safety-review groups. As the GPU Nuclear organization matured, a mid-1987 reorganization created an even more focused Planning and Nuclear Safety Division bringing together Nuclear Safety Assessment with Licensing and Regulatory Affairs and Risk Management. The Risk Management Group (RMG), which began its work in fall 1987, was formed to develop a framework for proactive identification, evaluation, and cost-effective reduction and management of risks of all types. The RMG set out to learn as much as possible about risks and their management in nuclear and other high-technology industries. This began with a thorough literature search. It progressed to interviews with individuals and organizations which have demonstrated innovative ideas, experience, and reputations for safe and reliable operation

  10. The history of the philosophy of management and corporations

    DEFF Research Database (Denmark)

    Rendtorff, Jacob Dahl

    2013-01-01

    In this chapter, the history of philosophy of management is discussed with a focus on the search for legitimacy in the Judeo-Christian tradition. This is the basis for evaluating modern concepts of the economics of the philosophy of management and corporations. The chapter also presents the neoli...... the neoliberal paradigm of the philosophy of management and the attempt to search for another economy beyond rational individual utility maximization. Here we move toward business ethics, CSR, and corporate citizenship....

  11. VAR, stress-testing and supplementary methodologies: uses and constraints in energy risk management

    International Nuclear Information System (INIS)

    Senior, Brian

    1999-01-01

    This chapter lists some of the special risks associated with a range of energy markets, and questions what is risk. Market risk, the use of value-at-risk (VAR) for measuring and managing market risk, use of VAR in the banking sector, back-testing of VAR, the corporate sector, making investment decisions, and the need for additional methods of risk analysis are discussed. Scenario analysis and stress testing, liquidity, and combining VAR and stress-testing are described. Credit risk and the quantitative analysis of credit risk are addressed, and operational risk, and organisational challenges are considered. Panels present examples of a simple VAR calculation and give descriptions of VAR in corporate decisions, the measurement of liquidity, and the use of the Greeks in decisions on day to day trading and risk management

  12. Corporate Governance Characteristics as a Stimulus to Tax Management

    Directory of Open Access Journals (Sweden)

    Antônio Paulo Machado Gomes

    2016-01-01

    Full Text Available This article aimed to investigate whether corporate governance uses tax management to increase companies' performance. The objective was checking whether corporate governance characteristics, such as remuneration paid to the executive board, segregation between Chairman and CEO, and the independence and composition of the Board of Directors, influence tax management in Brazilian companies. At the same time, it aimed to identify whether the preceding tax management is reflected on the subsequent tax management. To do this, a sample of 355 Brazilian companies listed on the BM&FBOVESPA between 2008 and 2014 was used, in order to find out whether their corporate governance characteristics influenced tax management, something identified by calculating ETR, CashETR, and BTD. As a result, it was found (i that the remuneration paid to executives may be regarded as a characteristic influencing tax management in Brazilian firms, and (ii that the preceding tax management influences the future tax management. In addition, it was found that Brazilian companies do not rule out tax management benefits, since the average effective rate in the sample under analysis was 25%, and it is statistically lower than the nominal rate of taxes on earnings in Brazil, which is 34%.

  13. From Risks to Shared Value? Corporate Strategies in Building a Global Water Accounting and Disclosure Regime

    Directory of Open Access Journals (Sweden)

    Marco A. Daniel

    2012-10-01

    Full Text Available The current debate on water accounting and accountability among transnational actors such as corporations and NGOs is likely to contribute to the emergence of a global water governance regime. Corporations within the food and beverage sector (F-B are especially vulnerable to water risks; therefore, in this article we analyse motivations and strategies of the major F-B corporations participating in the debate and developing different water accounting, disclosure and risk-assessment tools. Neo-institutionalism and neo-Gramscian regime theory provide the basis for our framework to analyse the discursive, material and organisational corporate water strategies. Findings based on an analysis of the chosen F-B corporations’ sustainability reports and interviews with key informants suggest that the corporations share similar goals and values with regard to the emerging regime. They seek a standardisation that is practical and supportive in improving their water efficiency and communication with stakeholders. This indicates that some harmonisation has taken place over time and new actors have been pursuing the path of the pioneering companies, but the lead corporations are also differentiating their strategies, thus engaging in hegemonic positioning. However, so far the plethora of NGO-driven accountability initiatives and tools has fragmented the field more than 'war of position' amongst the corporations. Furthermore, several companies claim to have proceeded from internal water-risk management to reducing risks throughout their value chains and watersheds. As a result they are 'creating shared value' with stakeholders, and potentially manifesting an emergent paradigm that goes beyond a private regime framework. Nevertheless, in the absence of verification schemes, questions of sustainability and legitimacy of such actions on the ground prevail and remain a topic for further research.

  14. An Investigation of the Impact of Corporate Governance Mechanisms on Level of Corporate Risk Disclosure: Evidence from Kuwait

    Directory of Open Access Journals (Sweden)

    Bader Al-Shammari

    2014-06-01

    Full Text Available This study investigated the association between corporate governance mechanisms and corporate risk disclosure (CRD in the annual reports for a sample of 109 Kuwaiti listed non-financial companies in 2012. The study used a manual content analysis to measure risk disclosure by counting the number of risk-related sentences in annual reports. A multiple regression analysis was used to test the impact of board size, non-executive directors, percentage of family members on board, role duality, and audit committee on CRD. The quantity of risk disclosures in the Kuwaiti companies' annual reports was very limited. The results showed that the larger board size has a positive impact on CRD. However, the findings also indicated the existence of role duality lead to lower risk disclosure. Other corporate governance mechanisms did not explain variation in CRD.

  15. Euphemisms and Hypocrisy in Corporate Philanthropy

    DEFF Research Database (Denmark)

    la Cour, Anders; Kromann, Joakim

    2011-01-01

    philanthropic while remaining economically responsible. In this situation, some researchers have argued, corporations run the risk of being caught out as hypocrites. Through an analysis of the corporate social responsibility reports of the biggest multinational corporations, this article shows how the risk...... of hypocrisy is managed communicatively through the use of euphemisms. The article argues that the use of euphemisms makes it possible to communicate both economically and philanthropically without manifest contradictions. Euphemisms, however, are also risky in their own right....

  16. Control mechanisms in corporate governance

    Directory of Open Access Journals (Sweden)

    Jovanović-Zattila Milena

    2016-01-01

    Full Text Available The structure of corporate governance is determined by the distribution of rights and responsibilities among different actors in the company structure. Organizationally complex structure of corporate entities, established as a reflection of composite forms of business corporations, give rise to the conflict of interest between the owners, the board of directors and managers, which is generally known as the principal-agency problem. Given the fact that operations of modern companies include interaction with a large number of stakeholders, matters of ethics and accountability to the owners, employees, creditors and the state are the basic postulates which have been subject to re-examination lately. The reasons for reassessing these issues are to be sought in numerous abuses by companies, which are on the other hand highly active in their effors to protect themselves from similar abuses (mainy cyber crime. In order to respond to new challenges and requirements, which include providing for the interests of both shareholders and stakeholders, corporate management is required to establish an adequate system of internal control covering all company activities. Contemporary trends in the development of internal audit, as a mechanism of good corporate governance, are reflected in providing advice in respect of anticipated future risks and risk management.

  17. Statistics and Corporate Environmental Management: Relations and Problems

    DEFF Research Database (Denmark)

    Madsen, Henning; Ulhøi, John Parm

    1997-01-01

    Statistical methods have long been used to analyse the macroeconomic consequences of environmentally damaging activities, political actions to control, prevent, or reduce these damages, and environmental problems in the natural environment. Up to now, however, they have had a limited and not very...... in the external environment. The nature and extent of the practical use of quantitative techniques in corporate environmental management systems is discussed on the basis of a number of company surveys in four European countries.......Statistical methods have long been used to analyse the macroeconomic consequences of environmentally damaging activities, political actions to control, prevent, or reduce these damages, and environmental problems in the natural environment. Up to now, however, they have had a limited and not very...... specific use in corporate environmental management systems. This paper will address some of the special problems related to the use of statistical techniques in corporate environmental management systems. One important aspect of this is the interaction of internal decisions and activities with conditions...

  18. Emergence and translations of management interests in corporate branding in the Finnish pulp and paper corporations : a study with an actor-network theory approach

    OpenAIRE

    Aspara, Jaakko

    2007-01-01

    The riddle of this Thesis is: How come the management of the Finnish pulp and paper (P&P) corporations became interested in corporate branding around the year 2000? By the Finnish P&P corporations, I refer particularly to the three large P&P corporations based in Finland in 2005: UPM-Kymmene, Stora Enso, and M-Real. By the management, I refer to managers of these corporations including the top managers, i.e. CEOs and executive board members, and even the members of the Boards of Directors. ...

  19. Managing the total cost of risk exposures through risk mapping techniques

    International Nuclear Information System (INIS)

    Unione, A.J.; Rode, D.M.

    1998-01-01

    In a competitive power market, power producers are exposed to an increasingly broad spectrum of financial risks. The cumulative impact of these financial risks is known collectively as the Total of Cost of Risk. The concept of Total of Cost of Risk presents the business reality of a company's exposure to potentially devastating financial consequences in an integrated and useful way. In this way, a strategy of managing Total Cost of Risk in the most cost effective way can become a means of ensuring long term business health and security. This paper will examine the use of risk mapping as a tool for visually understanding Total Cost of Risk, thus creating an enhanced situational awareness and an integrated basis for risk management decision. The evaluation process, available through the use of risk maps allows the power producers to pro-actively implement prudent business decisions concerning the design, operation and maintenance of power plants. Risk mapping is thus a means for harmonizing operational objectives, such as improved plant reliability, with corporate strategies and goals in terms of an effective risk management program

  20. Corporate Governance and Human Resource Management in Nigeria’s Downstream Petroleum Sector

    Directory of Open Access Journals (Sweden)

    Oyewunmi Olabode A.

    2017-06-01

    Full Text Available The emergence of a ‘new world economy’ makes it imperative for corporate entities to adjust their corporate values, practices and internal processes. This paper explored the interrelatedness of selected corporate governance practices and human resource management outcomes. The paper relied on established corporate management theories as a platform for empirical consideration of selected issues relative to four established players in Nigeria’s downstream petroleum sector. A descriptive method was adopted and data was collected via a survey of 112 respondents. Contextual arguments were captured to achieve a robust appreciation of issues affecting individual participation and operations of corporate entities. The study found that there is a significant relationship between corporate governance practices and human resource management outcomes. Requisite conclusions and recommendations were provided in the light of empirical and theoretical findings.

  1. Crisis communication as an important tool of corporate management

    OpenAIRE

    Francová, Martina

    2009-01-01

    Theory-metodological part: definition of basic terms as corporation -- corporation surroundings, corporate identity and image; extraordinary incident, crisis situation, crisis, crisis management; brief definition of legislative-juristic environment. Definition of the term communications -- common aspects and types of communication. Crisis communication, analysis of available methods of crisis communication in a company, analysis of available tools of crisis communication in a company. Practic...

  2. Statistics and Corporate Environmental Management: Relations and Problems

    DEFF Research Database (Denmark)

    Madsen, Henning; Ulhøi, John Parm

    1997-01-01

    Statistical methods have long been used to analyse the macroeconomic consequences of environmentally damaging activities, political actions to control, prevent, or reduce these damages, and environmental problems in the natural environment. Up to now, however, they have had a limited and not very...... specific use in corporate environmental management systems. This paper will address some of the special problems related to the use of statistical techniques in corporate environmental management systems. One important aspect of this is the interaction of internal decisions and activities with conditions...

  3. CORPORATIONS CRISIS - BEYOND THE FRONTIERS OF MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Liviu NEAMTU

    2009-12-01

    Full Text Available The economic crisis registered on international markets can be seen simply as corporate crisis as a result of that crash is the effect of large financial institutions and companies in the field of goods and services. Corporate crisis is a process that develops in nearly 10 years on the international market falling to the level of maximum development and producing her effects for 10 years hence. The paper tries to follow the stages of evolution of this crisis together with factors such as management and the economic environment characterized current economy. Also the relationship between companies management and "macroeconomic management" that generates these developments should be defined so that for future periods to be offered the best solutions to balance the market domestically and internationally

  4. Stakeholder versus Shareholder Satisfaction in Corporate Risk Management

    DEFF Research Database (Denmark)

    Aabo, Tom

    2006-01-01

    Inherent in corporate governance is the conflict between satisfying stakeholders in general versus satisfying shareholders in particular. This empirical study of Danish non-financial companies finds that companies which state that their aim is to satisfy stakeholders in general ("stakeholder...

  5. Reputation and Humility in Corporate Management

    OpenAIRE

    Argandoña, Antonio

    2013-01-01

    Although virtue ethics has gained a firm presence in the theory and practice of corporate management, humility is not ranked as one the chief virtues in the business world. This is probably due to an incomplete or incorrectly focused view of what it means to be a humble person, why a good manager must be humble and how a modest outlook can contribute to both the firm's and the manager's success and reputation.

  6. Implementing a risk management program at Falconbridge

    International Nuclear Information System (INIS)

    Blechta, G.

    2003-01-01

    A corporate overview of Falconbridge was presented. Falconbridge, founded in 1928 is a leading producer of nickel, copper, cobalt and platinum group metals at low cost. A map displaying its worldwide locations was shown. In Canada, Falconbridge operates in Ontario and Nunavik Territory. The experience in Norway was briefly described, touching on market volatility, market intelligence, portfolio management, and risk management guidelines. The author then explained the purpose of the Energy Project Team, which was responsible for preparing for deregulation, developing strategies for purchasing energy, and minimizing the cost of purchased energy in a competitive market. The plan was described, and the emphasis placed on the core Ontario team. Communication played a large part. The management system functions were reviewed, and analysis provided. The financial integration model was presented. Risk management was dealt with, followed by market intelligence and operational hedge. Division impact was discussed. The major Falconbridge issues were: budget exposure to electricity price variability, how much fixed-price power supply and how long should the contracts be, regulatory structure, market purchase timing, and adhere to corporate risk management policy. The procurement process was described. The author concluded that the product must be kept simple and the number of products limited. A realistic schedule must by adhered to, and a short bidding period of four hours proved ideal. Supplier relationship must be consumer driven. The importance of communication plan was emphasized. Getting pre-approval to make the deal is important. tabs., figs

  7. Corporate financial decision makers' perceptions of their company's safety performance, programs and personnel: Do company size and industry injury risk matter?

    Science.gov (United States)

    DeArmond, Sarah; Huang, Yueng-Hsiang; Chen, Peter Y; Courtney, Theodore K

    2010-01-01

    Top-level managers make important decisions about safety-related issues, yet little research has been done involving these individuals. The current study explored corporate financial decisions makers' perceptions of their company's safety and their justifications for these perceptions. This study also explored whether their perceptions and justifications varied as a function of company size or industry injury risk. A total of 404 individuals who were the most senior managers responsible for making decisions about property and casualty risk at their companies participated in this study. The participants took part in a telephone survey. The results suggest that corporate financial decision makers have positive views of safety at their companies relative to safety at other companies within their industries. Further, many believe their company's safety is influenced by the attention/emphasis placed on safety and the selection and training of safety personnel. Participants' perceptions varied somewhat based on the size of their company and the level of injury risk in their industry. While definitive conclusions about corporate financial decision makers' perceptions of safety cannot be reached as a result of this single study, this work does lay groundwork for future research aimed at better understanding the perceptions top-level managers.

  8. 76 FR 66327 - Iron Mountain Information Management, Inc., Corporate Service Group, Information Technology (IT...

    Science.gov (United States)

    2011-10-26

    ... Management, Inc., Corporate Service Group, Information Technology (IT) Division, Including On-Site Leased... Information Management, Inc., Corporate Service Group, Information Technology (IT) Division, including on-site... location of Iron Mountain Information Management, Inc., Corporate Service Group, Information Technology (IT...

  9. Corporate data quality management in context

    OpenAIRE

    Lucas, Ana

    2010-01-01

    Presently, we are well aware that poor quality data is costing large amounts of money to corporations all over the world. Nevertheless, little research has been done about the way Organizations are dealing with data quality management and the strategies they are using. This work aims to find some answers to the following questions: which business drivers motivate the organizations to engage in a data quality management initiative?, how do they implement data quality management? an...

  10. 78 FR 59383 - Principal Management Corporation, et al.; Notice of Application

    Science.gov (United States)

    2013-09-26

    ... sections 12(d)(1)(A) and (B) of the Act. Applicants: Principal Management Corporation (``PMC''), Principal... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30692; 812-14136] Principal Management Corporation, et al.; Notice of Application September 20, 2013. AGENCY: Securities and Exchange...

  11. Appraising longitudinal trends in the strategic risks cited by risk managers in the international water utility sector, 2005-2015.

    Science.gov (United States)

    Chalker, Rosemary T C; Pollard, Simon J T; Leinster, Paul; Jude, Simon

    2018-03-15

    We report dynamic changes in the priorities for strategic risks faced by international water utilities over a 10year period, as cited by managers responsible for managing them. A content analysis of interviews with three cohorts of risk managers in the water sector was undertaken. Interviews probed the focus risk managers' were giving to strategic risks within utilities, as well as specific questions on risk analysis tools (2005); risk management cultures (2011) and the integration of risk management with corporate decision-making (2015). The coding frequency of strategic (business, enterprise, corporate) risk terms from 18 structured interviews (2005) and 28 semi-structured interviews (12 in 2011; 16 in 2015) was used to appraise changes in the perceived importance of strategic risks within the sector. The aggregated coding frequency across the study period, and changes in the frequency of strategic risks cited at three interview periods identified infrastructure assets as the most significant risk over the period and suggests an emergence of extrinsic risk over time. Extended interviews with three utility risk managers (2016) from the UK, Canada and the US were then used to contextualise the findings. This research supports the ongoing focus on infrastructure resilience and the increasing prevalence of extrinsic risk within the water sector, as reported by the insurance sector and by water research organisations. The extended interviews provided insight into how strategic risks are now driving the implementation agenda within utilities, and into how utilities can secure tangible business value from proactive risk governance. Strategic external risks affecting the sector are on the rise, involve more players and are less controllable from within a utility's own organisational boundaries. Proportionate risk management processes and structures provide oversight and assurance, whilst allowing a focus on the tangible business value that comes from managing strategic

  12. Pengaruh Mekanisme Corporate Governance Terhadap Pelaksanaan Enterprise Risk Manegement pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

    OpenAIRE

    Sitinjak, Mauritz P I

    2016-01-01

    This study aimed to examine the effect of corporate governance mechanism on the implementation of enterprise risk management. Variable corporate governance mechanism in this study consisted of, independent board, board size and audit committee size. The population in this research is manufacturing companies that listed in Indonesia Stock Exchange 2013-2014 period. Sample selection is done by purposive sampling method so that samples obtained for this study amounted to 89 companies. Data an...

  13. SUCCESSION MANAGEMENT: UPAYA HUMAN RESOURCE PLANNING MENUJU SUCCESS CORPORATE

    Directory of Open Access Journals (Sweden)

    Rini Kuswati

    2010-06-01

    create a more flexible and dynamic approach for preparing future executive and have the leadership necessary ready to meet the business challenges of the remainder of the decade and beyond. Succession management allows the corporate leadership to instill a more dynamic process became easier to integrate with the firm’s strategic initiatives. It better aligns organizational thinking with the external environment where the discontinuities make it possible to anticipate the full spectrum of change that a corporation will confront. It is the leadership and succession philosophy that focuses on developing the creativity and flexibility that allows for a more rapid response to change. So succession management as one way to became the success corporate.

  14. Facilities management and corporate real estate management : FM/CREM or FREM?

    NARCIS (Netherlands)

    van der Voordt, Theo

    2017-01-01

    Purpose: This paper aims to explore similarities and dissimilarities between facilities management (FM) and corporate real estate management (CREM) regarding its history and key issues, and whether the similarities may result in a further integration of FM and CREM. Design/methodology/approach:

  15. Managing information risk a director's guide

    CERN Document Server

    Mitchell, Stewart

    2009-01-01

    This pocket guide addresses the scope of risks involved in a modern IT system, and outlines strategies for working through the process of putting risk management at the heart of your corporate culture. Given that no two companies are the same, this pocket guide should not be taken as a step-by-step guide, but should provide decision makers with a solid overview of the factors they need to consider and a framework for implementing a regime that suits their needs.

  16. THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE TOWARD COMPANY STOCK PRICE CRASH RISK

    Directory of Open Access Journals (Sweden)

    Handiyono M.Y.

    2017-08-01

    Full Text Available This study aims to analyze the influence of corporate social responsibility disclosure to company stock price crash risk. If socially responsible companies are committed to high standards of information transparency and do not hide bad news, they will have a low risk of crash. However, if the manager reports CSR to distract the stakeholder from bad news, the CSR will be associated with a high risk of the company stock crash. The study was conducted at Indonesian manufacturing companies registered on the IDX (BEI for the 2010-2015 period Hypothesis testing technique used a multiple regression analysis. The results showed that activities of the corporate social responsibility disclosure by the company did not have a significant relationship to the risk of the company stock price crash. This study also found that companies that conduct and report social responsibility activities simultaneously have a low risk of crashes on their company's stock price but cannot prove the relationship between the two. The implication is that social accountability reports in Indonesia are still limited to reports only and have not been considered as anything that can contribute to add value to the company or that may prevent the company from unethical behavior.

  17. INNOVATIVE APPROACHES TO RESEARCH METHODOLOGY OF SOCIAL RESPONSIBILITY IN THE FIELD OF RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    L. Volokhova

    2016-06-01

    Full Text Available The paper defines the role of insurance and risk management in corporate social responsibility. Analysed some of the social problems of certain sectors of the economy and the distribution of investments by insurance companies in a socially-oriented areas of the economy. The result of the analysis show that the problem of insurance and risk management should be directed to the development of innovative insurance products that would receive specific corporate social value by real locating investments. To better study on strategic risk - management must diversify and improve the traditionally accepted methodological tools. We consider the theory of positional feedback and corresponding IRT innovative model for analysis of complex, highly-defined characteristics of this sector. In order to determine a common objective evaluation system of corporate social responsibility for all companies emphasis on practical social benefits as measuring the effectiveness and success of socially responsible activities, the benefits that the company will receive from the decision of the social project. The proposed comprehensive system of indicators based insurance, which allows you to deepen the study of social responsibility in risk management strategies. The indicator system includes the following sections: 1. Navkolyshnye environment. 2. Local government (social security community. 3. Occupational Safety. 4. Internal corporate relations. 5. Equality. 6. Product Attributes. 7. Management. 8. The interest of business. 9. Liability business. 10. Socially responsible insurance. The comparative characteristic of the efficacy of social activity of companies and assess their socio-oriented activities for the previous ten years.

  18. THE EFFECT OF CORPORATE GOVERNANCE MECHANISM, OWNERSHIP STRUCTURE, AND EXTERNAL AUDITOR TOWARD CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE WITH EARNING MANAGEMENT AS MODERATING VARIABLE

    Directory of Open Access Journals (Sweden)

    Suwana M.A.J.

    2017-08-01

    Full Text Available The purpose of this study is to examine the moderating effect of earning management on corporate governance mechanism, ownership structure, and external auditor toward corporate social responsibility disclosure. This study finds that the increase of ownership structure (foreign ownership and institutional ownership will increase corporate social responsibility disclosure. However corporate governance mechanism and external auditor is not affecting corporate social responsibility disclosure. Furthermore, this study provides additional empirical evidence for agency theory especially agency cost, that corporate governance mechanism, ownership structure, and Big Four audit firm do not have an effective role as agency cost to prevent or decrease earning management practice.

  19. Credit Booms and Busts in Emerging Markets: The Role of Bank Governance and Risk Management

    OpenAIRE

    Brown, Martin; Andries, Alin Marius

    2014-01-01

    This paper investigates to what extent risk management and corporate governance mitigate the involvement of banks in credit boom and bust cycles. Using a unique, hand-collected dataset on 156 banks from Central and Eastern Europe during 2005-2012, we assess whether banks with stronger risk management and corporate governance display more moderate credit growth in the pre-crisis credit boom as well as a smaller credit contraction and fewer credit losses in the crisis period. With respect to ba...

  20. Strategic stakeholder management by corporate social responsibility: Some conceptual thoughts

    Directory of Open Access Journals (Sweden)

    Markus Stiglbauer

    2011-06-01

    Full Text Available The sustainability and responsibility of corporate strategic management has become an important issue in recent years, not only against the background of the current financial and economic crisis. Companies are expected not only to succeed economically, but also ecologically and socially. Companies can use the issue of corporate responsibility to capture new markets and opportunities. But new requirements arise. Thus, stakeholders may exert pressure on companies to assume social responsibility, whereas executives shall lead by example. This paper tries to assess possiblities to meet stakeholder expectations towards companies by implementing corporate social responsibility concepts. We identify primary and secondary stakeholders of companies by using salience theory and try to give conceptual answers how the well-known concept of Caroll‟s corporate social responsibility pyramid my help to improve the current situation and to take top management and supervisory boards into account to establish a change of focus on corporate social responsibility not just as a hot topic.

  1. Corporate Managers' International Orientation and the Export ...

    African Journals Online (AJOL)

    Corporate Managers' International Orientation and the Export Performance of Firms in ... and for determining influence between interval level variables, respectively. ... Enhancing product adaptation and use of foreign strategic partnerships by ...

  2. Persepsi Etis Mahasiswa Akuntansi Mengenai Skandal Etis Auditor dan Corporate Manager

    Directory of Open Access Journals (Sweden)

    Elok Faiqoh Himmah

    2013-04-01

    Full Text Available The purpose of this study is to obtain empirical evidence about the influence of ethical orientation (idealism and relativism, gender and level of knowledge of the accounting student’s perceptions regarding ethical scandals by accountant and corporate managers with research model developed by Comunale et al (2006. Results of the analysis in this study indicated that idealism, gender and level of knowledge of the public accounting profession and accounting scandals accounting affected student’s perceptions of the ethical scandals auditors and corporate manager. On the other hand, relativism variables had no effect on accounting students' perceptions regarding ethical scandals auditors and corporate manager.

  3. 75 FR 64785 - Corporate Credit Unions

    Science.gov (United States)

    2010-10-20

    ... management (ALM) and credit risk, and whether to make modifications in the area of corporate governance. NCUA... the revisions, an analysis of how the final investment, credit risk, and asset liability provisions..., credit risk, ALM, liquidity, and capital measures that together should greatly reduce the systemic risk...

  4. VALUE-BASED APPROACH TO MANAGING CURRENT ASSETS OF CORPORATE CONSTRUCTION COMPANIES

    Directory of Open Access Journals (Sweden)

    Galyna Shapoval

    2017-09-01

    Full Text Available In modern conditions of management, the value of an enterprise becomes the main indicator, which is learned not only by scientists, but also by owners of enterprise and potential investors. Current assets take a very important place among the factors that affect the value of an enterprise, so management of current assets becomes more acute from the point of their impact on enterprise value. The purpose of the paper is to develop a system of value-based management of corporate construction companies’ current assets. The main tasks are: the study of current assets impact on the value of corporate construction companies, the definition of value-based approach to managing current assets of corporate enterprises and development of value-based management system of corporate construction companies’ current assets by elements. General scientific and special research methods were used while writing the work. Value-based management of current assets involves value-based management of the elements of current assets. The value-based inventory management includes the following stages of management: the assessment of reliability and choice of supplier according to the criterion of cash flow maximization, the classification of stocks in management accounting according to the rhythm of supply and the establishment of periodicity of supplies in accordance with the needs of the construction process. The value-based management of accounts receivable includes the following stages of management: assessment of the efficiency of investment of working capital into accounts receivable, the assessment of customers' loyalty and the definition of credit conditions and monitoring of receivables by construction and debt instruments. Value-based cash management involves determining the required level of cash to ensure the continuity of the construction process, assessing the effectiveness of cash use according to the criterion of maximizing cash flow, as well as budget

  5. Strategic Management Accounting Corporate Objective and ...

    African Journals Online (AJOL)

    No organisation operates without a focus and this focus can be termed objective or goal; which should be clearly slated. This study therefore looked at Strategic Management Accounting Corporate Strategy and Production objectives. The study samples are selected manufacturing firms in Port Harcourt. Questionnaires were ...

  6. Philosophical theories of management and corporations

    DEFF Research Database (Denmark)

    Rendtorff, Jacob Dahl

    2013-01-01

    This chapter presents the problem of legitimacy as the central question of the philosophy of management and corporations. This problem is then presented with the economic theory of Adam Smith and with the concept of legitimacy from Max Weber. Further on, the contributions of recent theories...

  7. The Analysis of Liquidity and Receivables as a Component of Corporate Financial Management

    Directory of Open Access Journals (Sweden)

    Feshchenko Oleh Р.

    2017-08-01

    Full Text Available The article is aimed at the analysis of liquidity and receivables of corporations and substantiation of proposals as to its improvement as part of the management of financial status of companies. The instruments, methodical techniques, tasks, and stages of managing the accounts receivable were generalized. It has been substantiated that, at the current stage of development of Ukraine’s economy, it appears not sufficient to apply the coefficient analysis only, there is a need to supplement it by the regression analysis of the panel data, allowing for the temporal and spatial characteristics of the sample. The development of additional indicators for the monitoring of receivables can be suggested as recommendations for the studied corporations in order to reduce future risks of non-recovery and financial deterioration. Prospect for further research is an in-depth regression analysis of the panel data in terms of the measures to refinance receivables and the financial dynamics of companies.

  8. Corporate Social Responsibility Management System: A Beverage Industry Case Study

    OpenAIRE

    Almeida, Rita; David, Fátima; Abreu, Rute

    2017-01-01

    This research aims to analyse policies inherent to the Corporate Social Responsibility Management System (CSRMS) of a company that produce diet and light beverage, iced teas, juice drinks and bottled waters. This management system is based on Corporate Social Responsibility (CSR) as “concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis” (EC, Green paper – Promotin...

  9. Corporate Venturing, Allocation of Talent, and Competition for Star Managers

    OpenAIRE

    De Bettignies , Jean-Etienne; Chemla , Gilles

    2008-01-01

    We provide new rationales for corporate venturing, based on competition for talented managers. As returns to venturing increase, firms engage in corporate venturing for reasons other than capturing these returns. First, higher venturing returns increase managerial compensation, to which firms respond by increasing incentives. Managers increase effort, prompting firms to reallocate them to new ventures, where the marginal product of effort is highest. Second, as returns to venturing become lar...

  10. A Decision Support System for Corporations Cybersecurity Management

    OpenAIRE

    Roldán-Molina, G.; Almache-Cueva, M.; Silva-Rabadão, C.; Yevseyeva, Iryna; Basto-Fernandes, V.

    2017-01-01

    This paper presents ongoing work on a decision aiding software intended to support cyber risks and cyber threats analysis of an information and communications technological infrastructure. The software will help corporations Chief Information Security Officers on cyber security risk analysis, decision-making, prevention measures and risk strategies for the infrastructure and information assets protection.

  11. Strategic Sustainability Management for Enhancing Corporate Value: in the context of Korean Business Circles

    NARCIS (Netherlands)

    Y-G. Ahn

    2007-01-01

    textabstractIn line with the growing importance of Corporate Sustainability Management (CSM) in business circles, the linkages between CSM, corporate values and performance is becoming increasingly higher on the agenda both for internal corporate management purposes and for external relations for

  12. Lessons learned: Managing the development of a corporate Ada training project

    Science.gov (United States)

    Blackmon, Linda F.

    1986-01-01

    The management lessons learned during the implementation of a corporate mandate to develop and deliver an effective Ada training program to all divisions are discussed. The management process involved in obtaining cooperation from all levels in the development of a corporate-wide project is described. The problem areas are identified along with some possible solutions.

  13. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

    evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply...... to these kinds of hybrid organizations, but it is easily adopted and tested for other private business models too. The findings and the conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk......Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models...

  14. Managing corporate identity: an integrative framework of dimensions and determinants

    NARCIS (Netherlands)

    Cornelissen, Joep; Elving, Wim

    2003-01-01

    Although there has been an enduring interest in corporate identity and image management, there is relatively little systematic empirical research on the topic. Large due to the diffuse interpretations, and dubious denotation that have characterized the subject of corporate identity so far, the

  15. Paradoxes of risk management: Social responsibility and self-exclusion in Dutch casinos

    NARCIS (Netherlands)

    Kingma, S.F.

    2015-01-01

    This article deals with the basic contradictions of risk management and responsibility regarding problem gambling and self-exclusions, and draws special attention to the role knowledge production and science play in the construction and evaluation of gambling risks. This remarkable case of corporate

  16. EFFECTS OF CORPORATE GOVERNANCE VARIABLES ON EARNINGS MANAGEMENT IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Stephanus Remond Waworuntu

    2017-03-01

    Full Text Available To determine the effects of corporate governance on earnings management, this paper analyzed 171 annualreports from issued 2006 to 2009 by 57 non-financial, joint stock companies implementing GCG (GoodCorporate Governance practices, which were listed on the Indonesia Stock Exchange (IDX. Six corporategovernance variables (board composition, independent commissioners, separate chairman/CEO roles, auditcommittee, managerial share ownership, and audit quality as well as three control variables (leverage, size,and ROA were used. The results showed that two corporate governance variables significantly influencedearnings management practices (separate chairman/CEO roles and managerial share ownership; the othervariables had no effect because these companies used GCG practices only to follow regulations rather than tomonitor and control.

  17. Managers' Perceptions of the Role of Corporate Social ...

    African Journals Online (AJOL)

    This paper evaluates the perception of managers in Tanzania of whether or not organizations benefit, in terms of growth, by acting responsibly socially. It evaluates two types of social responsibilities: market-oriented social responsibility and corporate social responsibility. The study interviewed 30 managers to evaluate the ...

  18. Establishment of the system of innovative management of global corporations

    Directory of Open Access Journals (Sweden)

    Yevhen Panchenko

    2011-06-01

    Full Text Available There have been highlighted the relevant issues of system establishment of the innovative management of global corporations and generalized the experience of the leading world corporations in the achievement and keeping leading positions on the highly technological segments of the global market. It shows the significance of the creative personal qualities of managers in the generation and implementation of effective innovative solutions in the global business, grounds the categorical and functional imperatives of the innovative development of global corporations. In the context of formation of the new knowledge economy there were highlighted contradictions and available instruments of reinforcement of leading positions among the leading global corporations in the innovative sphere. There was paid attention to the implementation of the new concepts of global corporations’ leadership of BRIC countries, in particular, Chinese highly technological companies. There has been made a conclusion about global institutionalization of the innovative activity.

  19. Corporate governance and strategic human resource management : Four archetypes and proposals for a new approach to corporate sustainability

    NARCIS (Netherlands)

    Martin, Graeme; Farndale, E.; Paauwe, J.; Stiles, Philip G.

    2016-01-01

    In this paper we develop a new typology connecting strategic human resource management (SHRM) to different models of firm-level corporate governance. By asking questions concerning ownership and control issues in the corporate governance literature and drawing on institutional logics, we build a

  20. 76 FR 72729 - SEI Investments Management Corporation, et al.

    Science.gov (United States)

    2011-11-25

    ...] SEI Investments Management Corporation, et al. November 18, 2011. AGENCY: Securities and Exchange... Application: Applicants request an order to permit open-end management investment companies relying on rule 12d1-2 under the Act to invest in certain financial instruments. Applicants: SEI Investments Management...

  1. Approaches on Correlation between Board of Directors and Risk Management in Resilient Economies

    Directory of Open Access Journals (Sweden)

    Daniel Ştefan Armeanu

    2017-01-01

    Full Text Available The recent financial crisis highlighted the need for a strong emphasis on the effectiveness of board risk oversight practices. Good corporate governance upholds effective risk management, which in turn ensures the flexibility to reply to unpredicted threats and take benefit of opportunities. Thus, risk management affords corporate resilience that engenders competitive advantage due to the capacity to circumvent, deter, defend, react, and adjust to any kind of disturbance, besides recovering quickly. Guaranteeing that the board is prepared and adequately resilient to deal with a crisis circumstance is a crucial part of good governance. By employing a data set of companies listed in Romania, this paper analyzes whether boards of directors influence risk management. We measure boards by means of size, independence, diversity, establishment of Consultative Committees, as well as CEO duality, gender, age, and tenure. Based on ten financial ratios, we develop two risk indicators regarding shareholders’ wealth and short-term risk, alongside a global business failure risk tool, by means of principal component analysis. Furthermore, the output of the multivariate regression analysis show that CEO gender, the size of the board, and Audit Committee negatively influence business failure risk.

  2. Have trends in adoption of corporate environmental management influenced companies' competitiveness?

    DEFF Research Database (Denmark)

    Madsen, Henning; Ulhøi, John Parm

    2003-01-01

    Corporate environmental management turned into a more formulated concept and a new managerial discipline two to three decades ago. Many companies have fully or partly adopted the concept in their efforts to eliminate or reduce the impacts on the natural environment caused by their business...... activities. The question is, however, if managers envisage corporate environmental initiatives as a challenge leading to strategic options, which at the end may influence the competitive situation of a company or are they seen as just another burden? Based on a series of surveys this paper reports...... on the trends in implementing corporate environmental management in Danish industry up till the entrance of the new millennium in order to identify if there has been any related effects on the competitiveness....

  3. Using Geo-Data Corporately on the Response Phase of Emergency Management

    Science.gov (United States)

    Demir Ozbek, E.; Ates, S.; Aydinoglu, A. C.

    2015-08-01

    Response phase of emergency management is the most complex phase in the entire cycle because it requires cooperation between various actors relating to emergency sectors. A variety of geo-data is needed at the emergency response such as; existing data provided by different institutions and dynamic data collected by different sectors at the time of the disaster. Disaster event is managed according to elaborately defined activity-actor-task-geodata cycle. In this concept, every activity of emergency response is determined with Standard Operation Procedure that enables users to understand their tasks and required data in any activity. In this study, a general conceptual approach for disaster and emergency management system is developed based on the regulations to serve applications in Istanbul Governorship Provincial Disaster and Emergency Directorate. The approach is implemented to industrial facility explosion example. In preparation phase, optimum ambulance locations are determined according to general response time of the ambulance to all injury cases in addition to areas that have industrial fire risk. Management of the industrial fire case is organized according to defined actors, activities, and working cycle that describe required geo-data. A response scenario was prepared and performed for an industrial facility explosion event to exercise effective working cycle of actors. This scenario provides using geo-data corporately between different actors while required data for each task is defined to manage the industrial facility explosion event. Following developing web technologies, this scenario based approach can be effective to use geo-data on the web corporately.

  4. Achieving Integrated Performance Management with the Corporate University

    Science.gov (United States)

    Dealtry, Richard

    2005-01-01

    Purpose: This article aims to deliver synoptic perspectives on the evolution taking place in corporate university management best practice. Design/methodology/approach: The insights are based on the author's co-creative client experience in the design, management and impact studies of this business and organisation development intervention. The…

  5. Savings impact of a corporate energy manager

    International Nuclear Information System (INIS)

    Sikorski, B.D.; O'Donnell, B.A.

    1999-01-01

    This paper discusses the cost savings impact of employing an energy manager with a 16,000-employee corporation. The corporation, Canada's second largest airline, is currently operating nearly 3,000,000 ft 2 of mixed-use facilities spread across the country, with an annual energy budget for ground facilities of over Cdn $4,000,000. This paper outlines the methodology used by the energy manager to deploy an energy management program over a two-year period between April 1995 and May 1997. The paper examines the successes and the lessons learned during the period and summarizes the costs and benefits of the program. The energy manager position was responsible for developing an energy history database with more than 100 active accounts and for monitoring and verifying energy savings. The energy manager implemented many relatively low-cost energy conservation measures, as well as some capital projects, during the first two years of the program. In total, these measures provided energy cost savings of $210,000 per year, or 5% of the total budget. In each case, technologies installed as part of the energy retrofit projects provided not only cost savings but also better control, reduced maintenance, and improved working conditions for employees

  6. THE TRIUMPH OF PERSONNEL MANAGEMENT: CONTESTING CORPORATE MOTHERHOOD AND THE CORPORATE WELFARE SYSTEM

    Directory of Open Access Journals (Sweden)

    Nikki Mandell

    2000-01-01

    Full Text Available Turn-of-the-century advocates of corporate welfare work promoted a familial model of labor relations which opened the doors of labor management to women. Scientific management experts argued instead for personnel management based on a consumer marketplace model. Scientific managers gained the upper hand during World War I. Their success depended, in part, on defining women as unfit for executive positions in labor relations, thereby closing the doors of labor management to women. This regendering masked an equally significant abandonment of the welfare system’s contention that companies bore an inherent responsibility for the general welfare of their workers.

  7. Corporate Social Responsibility and Psychosocial Risk Management in Europe

    NARCIS (Netherlands)

    Jain, A.; Leka, S.; Zwetsloot, G.

    2011-01-01

    Corporate social responsibility (CSR) is a comprehensive concept that aims at the promotion of responsible business practices closely linked to the strategy of enterprises. Although there is no single accepted definition of CSR, it remains an inspiring, challenging and strategic development that is

  8. Do Corporate Depositors Risk Everything for Nothing?

    DEFF Research Database (Denmark)

    Friedmann, Daniel; Imbierowicz, Björn; Saunders, Anthony

    reveal that also in markets with high transparency and no switching costs firms base the decision of where to deposit their money on bank relationships as well as the interest rate, but largely disregard bank risk. This has important implications for banks’ access to unsecured corporate funding....

  9. Perceptions of corporate cyber risks and insurance decision-making

    NARCIS (Netherlands)

    De Smidt, Guido; Botzen, Wouter

    This study provides an analysis of individual perceptions of cyber risks amongst professional decision makers. Data are collected using a survey of corporate professionals who are engaged in risk and insurance decision-making in various functional roles mainly in large companies. The study focuses

  10. Recapturing the corporate environmental management research agenda

    DEFF Research Database (Denmark)

    Ulhøi, John Parm; Madsen, Henning

    2009-01-01

    of corporate environmental management, and to identify any new critical and innovative research which moves beyond the compliance and certification approach. It discusses the threatening effects of consumption and industrialization which the decision makers worldwide have continuously face during the past....

  11. Using Online Databases in Corporate Issues Management.

    Science.gov (United States)

    Thomsen, Steven R.

    1995-01-01

    Finds that corporate public relations practitioners felt they were able, using online database and information services, to intercept issues earlier in the "issue cycle" and thus enable their organizations to develop more "proactionary" or "catalytic" issues management repose strategies. (SR)

  12. Corporate visual identity management: current practices, impact, and assessment

    NARCIS (Netherlands)

    van den Bosch, A.L.M.

    2005-01-01

    This dissertation is about Corporate Visual Identity (CVI) management. Its purpose is to gain more insight into activities associated with managing CVI and the impact of these activities on the outcome: the degree of consistency in CVI.

  13. Managing contradictions of corporate social responsibility

    DEFF Research Database (Denmark)

    Bjerregaard, Toke; Lauring, Jakob

    2013-01-01

    Corporate social responsibility (CSR) has attracted increasing attention in business and research. Studies have documented how management concepts such as diversity management are translated and adapted to differential local sociocultural contexts outside their countries of origin. More research...... is needed concerning how CSR concepts are translated and practiced locally within particular organizations. This research is based on an organizational ethnography of the management of multiple social, ethical and business logics of CSR in a Danish frontrunner firm. The study contributes with insights...... into the ongoing organizational management of potentially opposing logics in CSR. Findings show that managing contradictions of CSR is an ongoing challenge and accomplishment influencing whether ethical, social and business logics collide or reinforce each other. The study shows that when ethics are framed...

  14. INTERNATIONALIZATION AND REGIONALIZATION OF CORPORATE MANAGEMENT PRACTICES OF COMPANIES IN ROMANIA

    OpenAIRE

    Maria GÂF-DEAC; Petru ROŞCA,

    2015-01-01

    In article it is recognized the advantages of internationalization and regionalization of companies and as such, managers and corporate directories of modern companies give its alternative to develop best management practices in the field. Indicators, performance indicators and key performance indicators identified and selected in the context investigated, showing commitment still low (unsatisfactory to satisfactory) Romanian firms in the positioning or repositioning in regional corporate ar...

  15. Corporate Environmental Management and Information Technology

    DEFF Research Database (Denmark)

    Rikhardsson, Pall M.

    2000-01-01

    software, the internet, computer networks, telecommunications devices, etc. Information technology also has an impact on how companies perform environmental management. This paper explores the relations between environmental management and information technology in general terms. It offers a classification...... framework for the use of information technology in corporate environmental management (CEM), describes the market for standard environmental management information systems solutions, what main functionalities are available and what main trends are visible.......Information technology has changed, is changing and will continue to change the face of business as we further enter the Information Society. Today it would be difficult for a company to function effectively without the aid of various information technologies such as accounting software, production...

  16. Project management – the way to performance among corporations

    Directory of Open Access Journals (Sweden)

    Luminiţa PISTOL

    2012-06-01

    Full Text Available Project management has developed from a simple management philosophy restricted to a few functional areas into a business process that include various areas from global market. Nowadays, most of the corporations are using project management systems to achieve performance on the global market, and they realize that project management and productivity are related.

  17. Peran Praktek Corporate Governance Sebagai Moderating Variable dari Pengaruh Earnings Management Terhadap Nilai Perusahaan

    Directory of Open Access Journals (Sweden)

    Vinola Herawaty

    2008-01-01

    Full Text Available The objective of the empirical study is to examine the role of Corporate Governance Practices as a variable that moderates the effect of Earnings Management to the value of the firm. The result gives the evidence that corporate governance practices that have a significant impact to the value the firm are outside independent director and institutional ownership, in the model regression with moderating variable. It also indicates that Independent director, audit quality and institutional ownership are moderating variables of the relationship between earnings management and the value of the firm, but not the managerial ownership. Thus, earnings Management can be minimized with the monitoring mechanism i.e. (1 independent director that can monitor the management of the company in aligning the interest of principal and agent, (2 institutional ownership shareholders - the sophitisticed investor that also monitor the management to decrease the motivation of management to manipulate Earnings and (3 audit quality with the role of auditors to give the credibility of the reported financial statement by management. Abstract in Bahasa Indoesia: Tujuan penelitian ini untuk menge¬tahui secara empiris pengaruh earnings management terhadap nilai perusahaan, praktek corporate governance nilai perusahaan dan pengaruh praktek corporate governance terhadap hubungan antara earnings management dan nilai perusahaan dan memahami peranan praktek corporate governance terhadap praktek earnings management yang dilakukan yang perusahaan dalam upaya meningkatkan nilai perusahaan. Hasil penelitian membuktikan corporate governance berpengaruh secara signifikan terhadap nilai perusahaan dengan variabel komisaris inde¬penden dan kepemilikan institusional. Kepemilikan manajerial akan menurunkan nilai perusahaan sedangkan kualitas audit akan meningkatkan nilai perusahaan. Komisaris independen, kualitas audit dan kepemilikan institusional merupakan variabel pemoderasi antara

  18. The Trade-Off Between Risk and Control in Corporate Ownership

    NARCIS (Netherlands)

    Manjon, M.C.

    2003-01-01

    This paper analyses the risk control trade o$ in corporate ownership. It presents a simple model in which large shareholders decide their share depending on their risk aversion, risk-neutral effects attached to rm size and the e$ectiveness of di$erent (external and internal) mechanisms for

  19. Using Risk Assessment Methodologies to Meet Management Objectives

    Science.gov (United States)

    DeMott, D. L.

    2015-01-01

    Corporate and program objectives focus on desired performance and results. ?Management decisions that affect how to meet these objectives now involve a complex mix of: technology, safety issues, operations, process considerations, employee considerations, regulatory requirements, financial concerns and legal issues. ?Risk Assessments are a tool for decision makers to understand potential consequences and be in a position to reduce, mitigate or eliminate costly mistakes or catastrophic failures. Using a risk assessment methodology is only a starting point. ?A risk assessment program provides management with important input in the decision making process. ?A pro-active organization looks to the future to avoid problems, a reactive organization can be blindsided by risks that could have been avoided. ?You get out what you put in, how useful your program is will be up to the individual organization.

  20. Australian Geography and the Corporate Management Paradigm.

    Science.gov (United States)

    Powell, J. M.

    1990-01-01

    Criticizes the intrusion into Australian higher education of the corporate management model. Considers the implications of this mechanization for geography instruction. Notes centralizing tendencies and merger policies with the corresponding market imperatives of efficiency and accountability. Argues that this produces employable manpower but does…

  1. Managers’ Support – A Key Driver behind Enterprise Risk Management Maturity

    Directory of Open Access Journals (Sweden)

    Sprčić Danijela Miloš

    2017-04-01

    Full Text Available Severe consequences of the global fi nancial crisis resulted in re-thinking the risk management processes and approaches, highlighting the need for a comprehensive risk management framework. Consequently, more and more companies are moving away from the Traditional “silo-based” Risk Management (TRM to a more holistic approach known as Enterprise Risk Management (ERM. This paper presents results of both exploratory and empirical research. First, we develop ERM Index that measures maturity of ERM process within the company. Then, we present empirical results on the level of maturity and determinants of risk management system development in listed Croatian companies. Research indicates low levels of ERM development: even 38 per cent of analysed companies have no elements of ERM system, from which 22 per cent do not manage corporate risks at all. Except the company’s size supported by the economies of scale argument, managers’ support is the most important determinant of ERM system maturity in Croatian companies.

  2. Investigation of factors determining risk-taking strategies in Pension fund investment of Defined Benefit schemes in the UK corporate pension system

    OpenAIRE

    Hu, Chunan

    2014-01-01

    This paper investigates various incentives determining risk taking strategies of the corporate pension fund investment from the perspective of sponsors. In the United Kingdom, occupational pension plans especially defined benefit (DB) pension schemes play important roles in the financial market. Comparing with the conventional framework managing pension risk as a contained part of the whole firm risk, recent studies start to focus on pension risk especially investment risk as an individual to...

  3. Corporate design management

    NARCIS (Netherlands)

    drs. Patrick van Thiel; drs. Wil Michels

    2006-01-01

    'Corporate designmanagement' is een vlot geschreven en zeer overzichtelijk standaardwerk op het gebied van corporate designmanagement. Een sterke visuele identiteit is voor een organisatie een doeltreffend middel om zich te positioneren en te profileren. Voorwaarde is wel dat de visuele identiteit

  4. HUMAN RESOURCE MANAGEMENT AND CORPORATE SOCIAL RESPONSIBILITY: A SYSTEMATIC LITERATURE REVIEW

    OpenAIRE

    FERREIRA, ELİZABETH REAL DE OLIVEIRA – PEDRO; SAUR, IRİNA; AMARAL,

    2013-01-01

    We perform a systematic literature review on academic papers in Human Resources Management and Corporate Social Responsibility in ISI Current Contents. Based on 117 academic papers from 2001 to date, we perform content analysis in a grounded-theory methodological approach and map the field of Human Resources Management and Corporate Social Responsibility, identifying main schools of thought (invisible colleges) and main players. We see a tendency to increase publications from 2008 onwards. We...

  5. Essays on top management and corporate behavior

    NARCIS (Netherlands)

    Wu, H.T.

    2010-01-01

    Human behavior is fascinating, and there is no exception to what its influences are on the financial market. This dissertation consists of three essays that examine corporate behavior that is affected by decisions made by the top management. The first essay studies the rationale for leveraged buyout

  6. Compliance and corporate anti-money laundering regulation

    Directory of Open Access Journals (Sweden)

    Pietro Pavone

    2018-04-01

    Full Text Available This paper, having traced the evolution of anti-money laundering legislation, defines and frames money laundering and terrorism financing risk inside corporate dynamics. Principles that must inspire corporate actions on the construction of an adequate managing structure to contain risks are set out, considering the fact that there is no risk that this does not have an economical content. This is even truer in the presented case, given that the Italian legislation to counter money laundering is focused on the innovative and modern risk-based approach, which has to guide the organization and functioning of corporations. Possible configuration of corporate anti-money laundering supervisions is therefore analyzed, with the aim of underlining the present connection between anti-money laundering legislation and rules referring to the government and to the internal control system. The present study originates from the interpretation of the new Italian anti-money laundering law. In particular, the first consideration that derives is that the new law does not impose precise obligations in terms of corporate anti-money laundering structure, but a large area of autonomy is left to the will of each company.

  7. CUSTOMER CONCENTRATION VERSUS FRAGMENTATION AND ITS IMPLICATIONS IN CORPORATE RISK

    Directory of Open Access Journals (Sweden)

    Jorge Mongay Hurtado

    2018-03-01

    Full Text Available This research explores on one side, the composition and structure of databases of clients in a total of 204 multi-sectorial companies based in Spain, Thailand and Indonesia. The criterion used to differentiate a customer´s database structure relates to its degree of “fragmentation” versus “concentration”. Also, the research has determined a risk model using a statistical Monte Carlo simulation method in each company. Both, risk levels expressed as certainty to obtain levels of profits and type of customer´s database structure have been analyzed under an Anova test and multiple correlation analysis exploring a total data of N=1020. Results are quite relevant with a conclusion that the volatility of sales affects significantly the changes in the values of certainty of profits, (although not directly to the levels of risk or certainty related to the achievement of certain results in profits. Consequently, managers should be aware of the importance of a robust quantitative and qualitative accurate sales forecasting method which will contribute with no doubt to decrease corporate risk being extremely helpful when presenting plans or forecasts in front of any kind of stakeholders.

  8. The new role of the going concern concept in corporate finance management

    OpenAIRE

    Gintaras Černius

    2012-01-01

    This paper tackles different issues related to the development of the system of the objectives of a company's financial management that also includes its sustainability. Prior to the recent financial crisis the formulation of the corporate finance management objective focused only on the company’s finances that were reported and measured using the company's profit and its worth growth ratios. The financial crisis has highlighted an additional aspect in corporate management, i.e., a need for t...

  9. The correlation between management power and risk in the Italian companies

    Directory of Open Access Journals (Sweden)

    Raffaella Scarabino

    2013-03-01

    Full Text Available The shareholders can not directly manage the business but they have powers of pulse and control by voting right that is essential for the correct functioning of the company. In 1942 the Italian legislature, although with some exceptions, adopted One share – One vote rule. The legal framework changed significantly after the enactment of corporate law reform in 2003. The objective of this research is to examine the status of the principle of correlation between management power and risk in the context of the regulatory framework of Italian public companies, as it emerged after the enactment of above mentioned corporate law reform in 2003.

  10. Organic Growth Improvement of Indonesian Logistics Companies (A Conceptual Model: Contribution of Strategic Management, Transformational Leadership, and Knowledge Management to Corporate Entrepreneurship and Its Impact on Organic Growth

    Directory of Open Access Journals (Sweden)

    Darjat Sudrajat

    2015-05-01

    Full Text Available Indonesian logistics companies needed performance improvement (particularly in organic growth for increasing their competitiveness. Based on previous researches that in order to increase organic growth, it could be conducted through developing corporate entrepreneurship, namely the activities that enhance company’s ability to innovate, take risk and seize market opportunities. The purpose of this paper tried to explore the relationships among variables, namely organic growth (OG, corporate entrepreneurship (CE, transformational leadership (TL, knowledge management (KM, and strategic management (SM. Therefore, this research used causal-explanatory study to explain relationships among the variables. The results of this research were concluded that TL, KM, and SM have contributions to corporate entrepreneurship and organicgrowth. The relationships could be constructed in a conceptual model that could be verified through further research.

  11. Managing the strategic network relations between corporate R&D and business

    NARCIS (Netherlands)

    Fortuin, F.T.J.M.; Omta, S.W.F.

    2006-01-01

    The present paper addresses the important issue of the management of the strategic network relations between corporate R&D and business. In a large technology-based multinational company (+/- 30,000 employees) an instrument that provides regular feedback to both corporate R&D and business

  12. Reputation Management: The New Face of Corporate Public Relations?

    Science.gov (United States)

    Hutton, James G.; Goodman, Michael B.; Alexander, Jill B.; Genest, Christina M.

    2001-01-01

    Presents an empirical study of the Fortune 500 companies suggesting that "reputation management" is gaining ground as a driving philosophy behind corporate public relations. Finds some interesting correlations between reputation and specific categories of spending. Concludes that if reputation management is the new face of corporate…

  13. KOMISARIS INDEPENDEN, KOMITE AUDIT, INTERNAL AUDIT DAN RISK MANAGEMENT COMMITTEE TERHADAP MANAJEMEN LABA

    Directory of Open Access Journals (Sweden)

    Nurika Restuningdiah

    2017-03-01

    Full Text Available The purpose of this research was to examine the impact of independency of board commisioner, audit committee,internal audit and risk management comittee to earning management. Regression Analysis of 35 publiccompanies listing in Indonesia Stock Exchange on year 2009 through a random sampling technique indicatedthat there was no significant impact of independency of board commisioner, audit committee, internal auditand risk management comittee to earning management. The implication of this study was relevant to thedecision maker of public companies to consider the skill and expertise of board commisioner, audit committe,internal audit and risk management comittee to support the internal corporate governance mechanism.

  14. The Role of Carbon Accountant in Corporate Carbon Management Systems: A Holistic Approach

    Directory of Open Access Journals (Sweden)

    Francis Chinedu Egbunike

    2017-12-01

    Full Text Available Carbon accounting consists of a combination of advanced cost allocation techniques such as activity-based management and life-cycle costing; that improve the identification and assignments of carbon-related expenses and overheads to such objects as products, services, customers and organizational processes. The study therefore sets out to find the role of carbon accountant in corporate management systems. Data used for this investigation were collected from primary and secondary sources. Primary data are first-hand information from respondents while Secondary data include textbook, Annual Reports and financial statements and internet facilities. The study employed descriptive survey and ex-post facto research design and the formulated hypotheses were tested by use of T-Test and OLS Regression. Based on the analysis and the hypothesis tested, it showed that there is a statistically significant relationship between carbon accounting and corporate performance of selected quoted Manufacturing Companies and based on this findings, it was recommended amongst others that, adaptation to conditions that include long-term changing dynamics of the natural environment should be encouraged and the focus of finance and accounting system should not only cover short-term outcomes and management of short-term costing, reporting and disclosure but also long-term climate risks.

  15. The Origin and Constitution of Facilities Management as an integrated corporate fuction

    DEFF Research Database (Denmark)

    Jensen, Per Anker

    2008-01-01

    Purpose – To understand how facilities management (FM) has evolved over time in a complex public corporation from internal functions of building operation and building client and the related service functions to become an integrated corporate function. Design/methodology/approach – The paper...... is based on results from a research project on space strategies and building values, which included a major longitudinal case study of the development of facilities for the Danish Broadcasting Corporation (DR) over time. The research presented here included literature studies, archive studies...... and a fully integrated corporate Facilities Management function are established. Research limitations/implications – The paper presents empirical evidence of the historical development ofFMfrom one case and provides a deeper understanding of the integration processes that are crucial to FM and which can...

  16. Improving the System of Risk Management in Ukrainian Banks

    Directory of Open Access Journals (Sweden)

    Skasko Oleh I.

    2014-01-01

    Full Text Available The goal of the article lies in the study of evolution of formation of the risk management system in Ukrainian banks, main instruments, methods of risk management and organisational approaches to formation of subdivisions of risk management and corporate management in banks. Analysing recommendations of the Basel Committee on Banking Supervision, legislative and regulatory acts, which form organisational and methodological requirements by risk management in banks, the article reveals shortcomings of its functioning. The article gives proposals on improvement of riskology in Ukrainian banks, namely: introduction of the requirement for risk assessment and stress testing by banks in the medium-term prospective (up to 3 years, which would reveal risks of realisation of long-term bank programmes, potential losses of receipts and capital due to existing gaps between the terms of performance of obligations by assets and liabilities, etc. In the result of the study the article establishes that in order to realise requirements of the Basel Committee on Banking Supervision on organisation of subdivisions of risk management in banks, it is necessary to introduce qualification requirements to managers of these services and procedures of their assignment/retirement in co-ordination with the banking supervision service, the status of which in the bank is not lower than managers of the internal audit and financial monitoring services, assignment of whom should be mandatory co-ordinated with NBU.

  17. Strategic human resource management and corporate social responsibility: Evidence from Emerging Markets

    OpenAIRE

    Rosolen, Talita; Maclennan, Maria Laura Ferranty

    2016-01-01

    Corporate social responsibility practices are increasingly being adopted and legitimized in business and they impact the strategic and operational levels in various areas. The integration of these criteria and practices in the strategic management involves many factors, and human resource management is an essential aspect for the accomplishment of such initiative. Thus, this paper associates the relationship among corporate social responsibility (CSR) various dimensions (strategic, ethical, s...

  18. An exploration of the role of records management in corporate governance in South Africa

    Directory of Open Access Journals (Sweden)

    Mpho Ngoepe

    2013-08-01

    Objectives: Utilising the King report III on corporate governance as a framework, this quantitative study explores the role of records management in corporate governance in governmental bodies of South Africa. Method: Report data were collected through questionnaires directed to records managers and auditors in governmental bodies, as well as interviews with purposively selected auditors from the Auditor-General of South Africa. Data were analysed using various analytical tools and through written descriptions, numerical summarisations and tables. Results: The study revealed that records management is not regarded as an essential component for corporate governance. Records management is only discussed as a footnote; as a result it is a forgotten function with no consequences in government administration in South Africa. The study further revealed that most governmental bodies have established internal audit units and audit committees. However, records-management professionals were excluded from such committees. Conclusion: The study concludes by arguing that if records management is removed as a footnote of the public-sector operations and placed in the centre of operational concern, it will undoubtedly make a meaningful contribution to good corporate governance.

  19. A RELATIONAL ANALYSIS OF CORPORATE GOVERNANCE

    Directory of Open Access Journals (Sweden)

    Gheorghe MINCULETE

    2014-04-01

    Full Text Available One of the realities brought forward by the financial crisis is that the corporate Governance, based until now mainly on self-regulation, has not been as effective as possible. A better management of organizations is important not only in order to reduce the possibility of occurrence of a new crisis in the future, but also for organizations to be more competitive. Currently we do not have a definition of corporate governance that is unanimously accepted. At global level, there are a variety of definitions for this term, depending on national, cultural or legislative characteristics. In this article we present the concept of corporate governance as being a complex process occurring at the level of the management of the organization, which integrates control, risk management and internal audit in a formula that is meant to determine the level of performance for the organizational achievements.

  20. Corporate Cash Holdings and Shareholder Risk : Investigating the relationship between corporate cash holdings and the risk of stocks listed on the Stockholm Stock Exchange

    OpenAIRE

    Olausson, Jonas; Löfgren, Christoffer

    2013-01-01

    Corporate cash holdings is a topic constantly under review, companies hoarding cash are criticized by shareholders who rather have companies using their cash for new investments or dividend payouts. Recent academic research has discovered that levels of cash holding are high in times when risk is deemed to be high and found that levels of corporate cash holdings are substantially higher than they used to, making more coverage and a better understanding of the phenomenon crucial. This thesis i...

  1. THE INFLUENCE OF CORPORATE CULTURE ON THE MANAGEMENT OF PERSONNEL OF THE ENTERPRISE

    Directory of Open Access Journals (Sweden)

    Dolha H.

    2018-03-01

    Full Text Available Introduction. The essence of corporate culture and its influence on personnel management of the enterprise are considered in the article. In particular, the essence of corporate culture in the personnel management system of the enterprise is determined by: universal values, the interaction of interests of staff with corporate interests; real market requirements for enterprise management and requirements for personnel, etc. It has been established that such a culture makes it possible to distinguish an organization, creates an atmosphere of identity for its members, strengthens social stability and is a controlling mechanism that directs and shapes the relations and behavior of employees. Purpose. The purpose of the article is to generalize theoretical and methodical principles and to develop scientific and practical recommendations on the impact of corporate culture on the personnel management of the enterprise. Results. It is proved that in order to achieve the goal in the process of personnel management, the company needs to solve the following tasks: the development of a sense of belonging of the personnel to the company; encouraging the involvement of staff in joint activities for the benefit of the enterprise; strengthening the stability of the system of social relations; support of individual initiative of employees; assisting the staff in achieving personal success; creation of an atmosphere of unity of managers and personnel in the enterprise; delegation of responsibility; strengthening the corporate family, etc. Conclusions. Conducted studies have shown that corporate culture: regulates the behavior of employees; is social, because the process of its formation is influenced by the employees of the enterprise; is multifaceted; is the result of the actions and opinions of the staff; able to change; consciously or unknowingly perceived by all employees; masses of traditions, because of a certain historical development process; and is in

  2. HOW MULTINATIONAL CORPORATIONS USE LOBBYING AND ADVOCACY TO MITIGATE POLITICAL RISKS

    Directory of Open Access Journals (Sweden)

    Violeta Iftinchi

    2018-05-01

    Full Text Available In their international activities multinational corporations (MNCs face various risks. Political risk is one of them. Expropriations, transfer and convertibility restrictions, breach of contracts, acts of terrorism, domestic political violence or other adverse regulatory changes and/or negative government action represent forms of political risks. Incorporating political risk in their risk management strategies becomes a necessity for MNCs in their search for profits and new markets. This article presents how MNCs use lobbying and advocacy as means to engage with governments and politicians in the country of origin (home country, in the country where a MNC has operations (host country or at international level (by creating ties with international organisations in order to mitigate political risks. The case of Repsol and its investment in Argentina is used to demonstrate the application of such tools. The article presents two limitations that might determine the success or failure of MNCs’ lobbying and advocacy activities: governments' unpredictable views towards MNCs and reputational risks. The article has also identified a main difficulty in identifying and examining MNCs way of using lobbying and advocacy to engage with government officials and politicians. This difficulty comes from the informal character of such contacts which makes lobbying and advocacy almost impossible to identify.

  3. Managing cybersecurity risk how directors and corporate officers can protect their businesses

    CERN Document Server

    Reuvid, Jonathan

    2016-01-01

    Managing Cybersecurity Risk aims to provide a better understanding of the extent and scale of the potential damage that breaches of cyber security could cause their businesses and to guide senior management in the selection of the appropriate IT strategies, tools, training and staffing necessary for prevention, protection and response.

  4. Company engagement with nongovernmental organizations from a corporate responsibility perspective

    OpenAIRE

    Kourula, Arno

    2009-01-01

    Organizations from a Corporate Responsibility Perspective Purpose – This doctoral dissertation examines the relationship between corporations and nongovernmental organizations (NGOs). The key research question of the thesis is the following: Why and how do companies engage with nongovernmental organizations to demonstrate corporate responsibility in different institutional contexts? The most important motives for engaging with NGOs include gaining legitimacy and knowledge, managing risk, impr...

  5. Contextualizing Individual Competencies for Managing the Corporate Social Responsibility Adaptation Process

    NARCIS (Netherlands)

    Osagie, E.R.; Wesselink, R.; Blok, V.; Mulder, M.

    2016-01-01

    Companies committed to corporate social responsibility (CSR) should ensure that their managers possess the appropriate competencies to effectively manage the CSR adaptation process. The literature provides insights into the individual competencies these managers need but fails to prioritize them and

  6. Benchmarking study of corporate research management and planning practices

    Science.gov (United States)

    McIrvine, Edward C.

    1992-05-01

    During 1983-84, Xerox Corporation was undergoing a change in corporate style through a process of training and altered behavior known as Leadership Through Quality. One tenet of Leadership Through Quality was benchmarking, a procedure whereby all units of the corporation were asked to compare their operation with the outside world. As a part of the first wave of benchmark studies, Xerox Corporate Research Group studied the processes of research management, technology transfer, and research planning in twelve American and Japanese companies. The approach taken was to separate `research yield' and `research productivity' (as defined by Richard Foster) and to seek information about how these companies sought to achieve high- quality results in these two parameters. The most significant findings include the influence of company culture, two different possible research missions (an innovation resource and an information resource), and the importance of systematic personal interaction between sources and targets of technology transfer.

  7. Perspectives on the University as a Business: The Corporate Management Structure, Neoliberalism and Higher Education

    Science.gov (United States)

    Taylor, Arthur

    2017-01-01

    In the past three decades, the administration of many institutions of higher education have progressed towards a corporate style management structure. What has been a collegial, collaborative approach to managing the institution has given way to a top-down, corporate style management intensely focused on revenues, and directing rather than…

  8. Earnings Management and Corporate Social Responsibility

    OpenAIRE

    Benjamin Uyagu; Alexander Olawumi Dabor

    2017-01-01

    This study lies at the heart of the issue of reliability of financial statements. Reliability is the accountant’s terminology for integrity of financial statements. This study focused on the impact of Corporate Social Responsibility on earnings management in the Nigerian manufacturing sectors. The study is motivated by the paucity of research on subject matter in manufacturing sub-sector in Nigeria. The study employed the ordinary least square multivariate regression technique. A sample of fi...

  9. Civic Engagement as Risk Management and Public Relations: What the Pharmaceutical Industry Can Teach Us about Service-Learning

    Science.gov (United States)

    Scott, J. Blake

    2009-01-01

    The pharmaceutical industry's corporate responsibility reports illustrate how the liberal rhetoric of civic engagement can be reappropriated to serve the market-driven aims of risk management and public relations. Tracing the ideologic linkage of corporate responsibility and service-learning versions of civic engagement, and contextualizing…

  10. CREDIT RISK MANAGEMENT IN THE COMMERCIAL BANKS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Mihaela SUDACEVSCHI

    2014-04-01

    Full Text Available Credit risk is one of the main risks faced by a bank. This kind of risk is generated by the crediting activity of the clients. To manage the credit risk, banks should identify the sources of the risk and to monitor their exposures. These activities mean a better knowledge of the existing and potential clients and their financial situations, by implementing new scoring methods. Also, to avoid the credit risk or to reduce losses, the banks could increase the value of guarantees required in regular credit activities, their periodically reassessment and the periodical analysis of the ability of customers to generate cash flows (for corporate clients and get constant income (for retail customers to provide repayment of credits. This paper aims to prevent and to analyze several measures of credit risk management and it assume that banks on the Romanian banking market and to identify some indices used for customers analysis.

  11. Strategic stakeholder management by corporate social responsibility: Some conceptual thoughts

    OpenAIRE

    Markus Stiglbauer

    2011-01-01

    The sustainability and responsibility of corporate strategic management has become an important issue in recent years, not only against the background of the current financial and economic crisis. Companies are expected not only to succeed economically, but also ecologically and socially. Companies can use the issue of corporate responsibility to capture new markets and opportunities. But new requirements arise. Thus, stakeholders may exert pressure on companies to assume social responsibilit...

  12. CORPORATE GOVERNANCE AND STAKEHOLDERS’ ACCOUNTABILITY

    Directory of Open Access Journals (Sweden)

    Elena CHIȚIMUȘ

    2015-04-01

    Full Text Available Corporate governance is the system through which companies are directed and controlled but until today academic environment, regulators, corporations couldn’t reach a unanimous definition. Corporate governance provisions suffered changes after several largely covered financial scandals. Entities incur costs when complying with new regulations but not complying impacts the reputation and investors might think twice before bringing their money into the company. Accountability for business decisions, risk management, control that set the economic path of the company is mandatory for proving that the company is run in a fairly and smart way. This study aims to investigate how corporate governance relates to accountability of all parties involved in the current business of companies as any conflict of interest is detrimental to the company and affects in a negative way its performance.

  13. Firm Risk and Performance: The Role of Corporate Governance of Digi Telecommunication Berhad

    OpenAIRE

    Kiew, sockyan

    2017-01-01

    The purpose of this study is to examine the corporate governance, the impacts of firm performances and risk for telecommunication industry. This review additionally analysis the value of profitability and liquidity ratio. The research involved the relationship between the corporate governance, performances of company and the risk of Digi Telecommunication Berhad within a five year period which from 2011 until 2015. The companies were from the telecommunications sector and the data was obtai...

  14. Need to implement corporate governance in the Romanian companies

    Directory of Open Access Journals (Sweden)

    Sorin COSNEANU

    2013-04-01

    Full Text Available Under the background of the current economic realities, characterized by uncertainty and mistrust, of increased complexity of the environment in which they operate, the Romanian companies must demonstrate good organization, flexibility, skills, good risk management and be trustworthy economic and social partners. The answer to many of these challenges is provided by a modern management system, which makes proof of more convincing development possibilities, namely corporate governance.This article is an attempt to summarize the major theoretical and practical issues related to corporate governance models, as well as a vision of the need to apply this management system in the Romanian companies. At the same time, the paper will briefly present the current state of corporate governance system implementation in the Romanian companies.

  15. RISK MANAGEMENT DISCLOSURE PRACTICESIN ACCORDANCEWITH KING II AND III: THE CASE OF SELECTED JSE LISTEDCOMPANIES

    Directory of Open Access Journals (Sweden)

    Heleen Janse van Vuuren

    2016-07-01

    Full Text Available The ongoing collapse of large international companies could have been partiallyprevented if good corporate governance principles and,more specifically,effectiverisk management practices had been implemented and adhered to.Research reveals that the majority offinancial institutions in Europe do notmanage risk effectively and the global financial crisis proved that excessive risk-taking can result in corporate failure. Similar trends are prevalent in South Africa.The aim of this research was to investigate the compliance of Johannesburg StockExchange (JSE listed companies with recommended risk management practicesand disclosure requirements after the introduction of King II and III. To achievethis the annual reports ofselectedJSElisted companies were evaluated toestablish the quality of their reporting on risk management practices asrecommended in King II andIII. The results of the study indicated that theminority of the companies investigated, fully complied with all the recommendedrequirements. This study contributed to literature by showing that althoughdisclosure on risk management practicesimproved significantly since King IIbecame operational in 2002, companies still did not adhere to all the requirementsas stipulated even after King III became effectivein 2010. The finding, therefore,supports the notion that full compliance is an evolutionary process, rather than arevolutionary process and will therefore only be achieved over time.

  16. Auditors' Experience with Corporate Psychopaths

    DEFF Research Database (Denmark)

    Klarskov Jeppesen, Kim; Leder, Christina

    2016-01-01

    actually exist and are a phenomenon worthy of research attention in areas such as accounting, auditing, internal control, fraud investigation, performance management and human resource management. Practical implications: As auditors are likely to come across corporate psychopaths from time to time...... in their careers, awareness of this type of risk needs to be increased and better integrated into the risk assessment in audit planning. Auditing standards relating to fraud also need to be updated according to the latest developments in fraud theory. Originality/value: This is the first research to address...

  17. Individual Values and Sensitivity to Corporate Ethical Responsibility of Business Students and Managers

    NARCIS (Netherlands)

    Perrinjaquet, A.; Furrer, O.F.G.

    2005-01-01

    This study investigates the relationship between individual values and sensitivity to corporate ethical responsibility (CER) among current business students and practicing managers. Using Schwartz’s values typology and Maignan and Ferrell’s corporate ethical responsibility operationalization, survey

  18. Risk profiles and corporate social responsibility for socially disadvantaged groups

    Directory of Open Access Journals (Sweden)

    Serbanescu Cosmin

    2017-07-01

    Full Text Available Developing a suitable mechanism to stimulate the effective redeployment of capital to social activities can be designed using the corporate social responsibility (CSR concept. Informational asymmetry about the real state of social risks influences the effectiveness of allocations in social protection. Reducing information asymmetries can be achieved by providing the corporations with socially determined risk profiles based on predetermined patterns. Offering concrete lines of action following the risk profiles approach which to base investment decisions of companies in CSR can maximize the results of such a mechanism. In a previous study the authors have developed a theoretical model for determining the poverty risk profile. This study aims to present the practical application of the theoretical model and to provide comments on some errors. Hence, the authors analyzed Buzau county municipalities in presenting the highest risk level determined by the theoretical model and related causes and performed an impact assessment of an investment in CSR based on a model. Specifically, the authors evaluated the impact of reducing the risk of poverty for a suitable investment in CSR. In the second part of the study, the authors analyzed the types of errors that can be found in the municipalities risk profile model due to the granularity of the data. Thus, for the error of over-inclusion, the authors assessed social allocative efficiency at the community level using benchmarking analysis, Data Envelopment respectively and analyzed the data of the under-inclusion error in Buzau county villages. The paper aims to analyze the relative limits on quantitative models and risk of poverty and the practical implementation of these types of models in the development of corporate social responsibility. The study provides also a useful tool which can be made available to companies in order to increase the vulnerable groups’ life quality and the satisfaction of

  19. Managing corporate visual identity : exploring the differences between manufacturing and service, and profit-making and nonprofit organizations

    NARCIS (Netherlands)

    van den Bosch, Annette; de Jong, Menno; Elving, Wim

    2006-01-01

    Corporate Visual Identity (CVI) is a crucial part of the identity of any organization. Most research on managing corporate identity deals with the strategic development of corporate identity and the design and effects of specific elements of the CVI. This study focuses on an aspect of CVI management

  20. THE RISK OF FRAUD WITHOUT IMPLEMENTATION OF THE PILLARS OF CORPORATE GOVERNANCE AT THE LEVEL OF CREDIT INSTITUTIONS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    VLAD MARIANA

    2013-02-01

    Full Text Available In this article, the authors seek to emphasize the risk factors that may occur due to not implementing or faultyimplementation of corporate governance for credit institutions, and its role in fraud prevention and detection. To avoidinappropriate governance, top management should have special preoccupations for the development of strategies,developing internal control policies by which to determine and evaluate the risks of the organization. Corporategovernance starts with a broad range of beneficiaries (stakeholders who contribute with resources to an organization(investments, taxes, charitable contributions, etc. Those members are the direct and indirect beneficiaries of theorganizational unit to be regulated. Corporate governance involving several parties: the leadership board, the internalauditors or those of the external environment. In some cases, regulatory authorities or professional associations,contribute to this process.

  1. 78 FR 52982 - Experian, Experian US Headquarters: Corporate Departments (Finance, HRMD, Contracts, Corporate...

    Science.gov (United States)

    2013-08-27

    ...,506R] Experian, Experian US Headquarters: Corporate Departments (Finance, HRMD, Contracts, Corporate... Headquarters: Corporate Departments (finance, HRMD, Contracts, Corporate Marketing, Global Corporate Systems... (finance, HRMD, Contracts, Corporate Marketing, Global Corporate Systems, Legal & Regulatory, Risk...

  2. STRATEGIC ANALYSIS OF THE EFFECTIVE DEVELOPMENT OF INDUSTRIAL ENTERPRISES ON THE BASIS OF THE USE OF “CORPORATE INNOVATION MANAGEMENT CHART”

    Directory of Open Access Journals (Sweden)

    Yuliia Klius

    2017-12-01

    Full Text Available Intensification of innovation activity of enterprises requires a qualitatively new organization of interconnections and interaction between all participants of the innovation process. The spreading of forms of corporate ownership and management in Ukraine has led to the development of corporate governance, whose strategic focus is becoming a top priority in the management of industrial enterprises. The introduction of an effective corporate innovation management system enhances competitiveness and economic efficiency by ensuring due attention to the interests of investors, management, and other participants in corporate relations; financial transparency, the introduction of effective management and control rules. The purpose of the article is to substantiate the use of “corporate innovation management chart” at industrial enterprises in conducting a strategic analysis of their effective development. Methodology. Methodological basis of the work is a set of methods and principles of scientific knowledge, general and special methods and techniques used during the study. The theoretical basis of the research is fundamental positions of the general theory of systems and innovation management, the theory of corporate management, scientific works of domestic and foreign scholars in the field of innovation management and corporate governance. The legal framework of the study is the current legislative and regulatory documents regulating the innovation activity of enterprises and corporate governance. For the achievement of the set purpose during writing of the article, the following methods are used: method of system analysis (for the definition of conditions of functioning of the corporate system of management of innovations; modelling (in the development of a mechanism for managing the effective development of an industrial enterprise with the use of “corporate innovation management chart”; graphic (for a visual representation of stages of

  3. Earnings Management and Corporate Social Responsibility

    Directory of Open Access Journals (Sweden)

    Benjamin Uyagu

    2017-09-01

    Full Text Available This study lies at the heart of the issue of reliability of financial statements. Reliability is the accountant’s terminology for integrity of financial statements. This study focused on the impact of Corporate Social Responsibility on earnings management in the Nigerian manufacturing sectors. The study is motivated by the paucity of research on subject matter in manufacturing sub-sector in Nigeria. The study employed the ordinary least square multivariate regression technique. A sample of fifty- two manufacturing firms was used. The result shows that there is a positive relationship between CSR and earnings management. This study recommended that statutory bodies should put a ceiling on the amount to be expended on CSR which must be exceeded by any firm.

  4. Corporate governance : disclosure on directors’ remuneration in Malaysia – is it adequate?

    OpenAIRE

    Wong, Irene Ling Chiong

    2014-01-01

    Ever since numerous corporate failures that shaken the faith and confidence of the public, the introduction of good corporate governance mechanism has swept the world off their feet. A sound corporate governance mechanism not only encourages proper management of risk, but at the same time, promotes effective performance. A vital part of corporate governance, directors’ remuneration has gain considerable focus from the policy makers, academics, media and public over the years. The measurements...

  5. Dynamic Modelling of a Knowledge Management System Evolution for a Technological Corporation

    International Nuclear Information System (INIS)

    Pershukov, V.; Belenkaya, N.; Sheveleva, S.; Kuptsov, I.; Andrianov, A.; Fesenko, G.

    2016-01-01

    Full text: The paper describes a dynamic mathematical model of a knowledge management system for a technological corporation. The model consists of three equations for generalized variables which characterize the human capacity, accumulated knowledge and profits interrelated by means of the Cobb–Douglas production function. The presented model is intended to simulate the system evolution over time including identification of possible catastrophic behavior of the system and can be used to solve various problems of forecasting the development of knowledge management systems in technological corporations, and assess the effectiveness of organizational measures aimed at improving the system efficiency. Using this model, it is possible to simulate the system evolution over time and conduct scenario research in the changing internal and external conditions as well as select the optimal system parameters in order to achieve certain goals and formulate requirements for the system components. The authors present the results of applying this model in simulating the dynamics of the knowledge management system development in a technological corporation and discuss some methodological issues related to the mathematical modeling of processes and models of knowledge management. (author

  6. Business Models for Corporate Innovation Management

    DEFF Research Database (Denmark)

    Brem, Alexander; Trapp, Martin; Voigt, Kai-Ingo

    2018-01-01

    or a specific product innovation. From a body of extant literature, we develop a BMI identification tool which is then tested by senior managers from four large European corporations to assess whether innovation efforts represent BMI. The tool operationalises BMI and offers straightforward criteria......Business model innovation (BMI) is the process of integrating a new logic of doing business into an established firm to improve profitability or to capitalise on new business opportunities. However, existing research offers only limited clarity on BMI compared to business model upgrades...

  7. An integrated management systems approach to corporate social responsibility.

    NARCIS (Netherlands)

    Asif, M.; Searcy, C.; Zutshi, A.; Fisscher, O.A.M.

    2011-01-01

    A great deal of research has emphasized the strategic management of corporate social responsibility (CSR). However, gaps remain on how CSR can be effectively integrated with existing business processes. One key question remaining is how to design business processes so that they accommodate

  8. Liquidity management and corporate investment during a financial crisis

    NARCIS (Netherlands)

    Campello, M.; Giambona, E.; Graham, J.R.; Harvey, C.R.

    2011-01-01

    This article uses a unique dataset to study how firms managed liquidity during the 2008- 2009 financial crisis. Our analysis provides new insights on interactions between internal liquidity, external funds, and real corporate decisions, such as investment and employment. We first describe how

  9. Have Trends in Corporate Environmental Management Influenced Companies' Competitiveness?

    DEFF Research Database (Denmark)

    Madsen, Henning; Ulhøi, John Parm

    2006-01-01

    . The question is, however, whether managers perceive corporate environmental initiatives as a challenge leading to new strategic options and, eventually, increased competitiveness, or whether they regard it as yet another burden. Based on a number of surveys, this paper discusses contemporary trends...

  10. The Effect of 2011 Revised Code of Corporate Governance on Pricing Behaviour of Nigerian Auditors

    OpenAIRE

    Abdulmalik, Salau O.; Ahmad, Ayoib Che

    2015-01-01

    The paper examines the extent which risk management committee and corporate governance committee predict audit fees in Nigeria. We employed random panel data (unbalance) regression analysis to establish whether risk management committee and corporate governance committee affect audit fees. We obtained the data used for this study from the annual reports of public listed companies on the Nigerian Stock Exchange for the periods 2008-2013. Our results indicate a positive relationship between est...

  11. MANAGEMENT OF ECONOMIC AND FINANCIAL STRATEGY INDUSTRIAL CORPORATION

    Directory of Open Access Journals (Sweden)

    K. B. Dobrova

    2010-01-01

    Full Text Available Issues related to creation of tools making it possible to efficiently control financial and economic production capability of industrial corporations making part of Russian military-industrial complex are discussed on example of an aviation enterprise. A system of balanced indicators is proposed to be used to develop corporation’s adaptive management strategies.

  12. A nuclear power enterprise debt management system construction Based on Sanmen Nuclear Power Co., LTD, debt risk management case analysis

    International Nuclear Information System (INIS)

    Wu Yan; Liu Shuqing

    2010-01-01

    Building nuclear power enterprises need huge investment , often tens of billions RMB. How to do a good job in corporate debt risk management, becoming powerful large-scale development of nuclear power ,ensuring the supply of funds and existing debt service in the process of large-scale development of nuclear power ,is an important task. In this paper, managing the company's debt is very urgent and necessary through analysis of SMNPC financing and debt structure; through the analysis of SMNPC's debt risk management , the authors would like to explore how to build up the framework of the debt management under the large-scale development of nuclear power construction . Nuclear power enterprises need to strengthen supervision mechanism and internal control,build-up and perfect all-round debt risk manage system, keep watch on debt risk in order to ensure preservation and increment of the value of state assets. (authors)

  13. Management of Corporate Culture through Local Managers' Training in Foreign Companies in China: A Qualitative Analysis

    Science.gov (United States)

    Zhao, Crystal L.

    2005-01-01

    Corporate culture is a complex phenomenon in foreign companies located in the People's Republic of China. For the management team of an international enterprise, it is a challenging task to manage cultural differences. Education and training provided to local managers might be one of the important solutions. Therefore, this study explores the…

  14. SiGesDoC: The CIEMAT corporate document and records management system. A tool for managing, saving and disseminating knowledge

    International Nuclear Information System (INIS)

    Martin Santamaria, E.; Gonzalez Giralda, C.; Bustelo, C.; Gorostiza, C.

    2008-01-01

    The need to manage, save and disseminate technical scientific knowledge as part of the technology transfer process requires the implementation of Corporate Document and Records Management Systems that support a cultural change in the management of documentation generated in organizations as a result of their research work. In the CIEMAT, most knowledge is developed in R and D projects led by scientists and technologists and managed by the research support personnel and, therefore, it is very important to efficiently manage and control the life cycles of these projects. This article describes the implementation of a corporate document and records management system in the CIEMAT. (Author)

  15. Narrating Corporate Values and Co-Creating Organizational Change

    DEFF Research Database (Denmark)

    Ravazzani, Silvia; Mormino, Sara

    identity and shared by employees by facilitating dialogical and sensemaking processes. After a review of relevant literature on corporate identity, organizational identity and internal social media, this paper presents main findings from a large Italian company that has used internal social media to engage......When management introduces a change in corporate identity and values, companies risk experiencing a disconnection from the actual organizational identity and narratives felt and shared among employees. The main challenge therefore is making sure that corporate identity is rooted in organizational...... employees in making sense of the new corporate values in an open and dialogical manner. Activities encompassed digital storytelling on corporate values and organizational change projects aimed at translating these values into concrete behaviours and organizational processes. Critical areas in the use...

  16. the role of corporate governance and strategic leadership practices

    African Journals Online (AJOL)

    However, majority of board members did not have adequate skills, knowledge or experience in strategic leadership, stock brokerage finance and risk management. The study concluded that corporate governance and strategic leadership practices were not being applied optimally to mitigate risks in the firms under study.

  17. Integrated Communications at America's Leading Total Quality Management Corporations.

    Science.gov (United States)

    Gronstedt, Anders

    1996-01-01

    Examines how to create organizational processes that allow communication professionals with a variety of expertise to support each other through coordination and integration. Studies eight of America's leading total quality management corporations, including AT&T, Federal Express, Saturn, and Xerox. Explores how various total quality…

  18. Corporate real estate management stratgies in Dutch higher education

    NARCIS (Netherlands)

    Theo van der Voordt; Ronald Beckers

    2014-01-01

    Purpose This paper aims to explore the management approaches concerned with the process of aligning Corporate Real Estate (CRE) with organizational goals on a strategic level and regarding day-to-day operating activities in higher education institutes. Methodology/approach – The paper first outlines

  19. 45 CFR 2508.9 - What officials are responsible for the security, management and control of Corporation record...

    Science.gov (United States)

    2010-10-01

    ..., management and control of Corporation record keeping systems? 2508.9 Section 2508.9 Public Welfare... IMPLEMENTATION OF THE PRIVACY ACT OF 1974 § 2508.9 What officials are responsible for the security, management and control of Corporation record keeping systems? (a) The Director of Administration and Management...

  20. Convergence of Corporate and Information Security

    OpenAIRE

    Syed; Rahman, M.; Donahue, Shannon E.

    2010-01-01

    As physical and information security boundaries have become increasingly blurry many organizations are experiencing challenges with how to effectively and efficiently manage security within the corporate. There is no current standard or best practice offered by the security community regarding convergence; however many organizations such as the Alliance for Enterprise Security Risk Management (AESRM) offer some excellent suggestions for integrating a converged security program. This paper rep...

  1. Managing ethical performance in organizations: insights from the corporate world.

    Science.gov (United States)

    Soule, Edward

    2007-03-01

    Medical organizations can learn at least three lessons from the recent spate of corporate scandals and the regulatory response they triggered. One is the importance of identifying and eliminating those conflicts of interest that pose unacceptable risks to an organization's reputation or to an industry's public profile. Second, although disclosing a risk attendant to a conflict of interest is of crucial importance, disclosures are not automatic absolutions, regardless of how full and complete they may be. Third, an organization's ethical performance is first and foremost a function of its culture. If there were any doubt, the likes of Enron Corporation and WorldCom confirmed that formal controls and legal sanctions are no substitute for the importance that members of an organization accord to playing by the rules and working with integrity.

  2. Corporate governance and proactive environmental management in Novo Hamburgo and neighbouring cities, Brazil

    Directory of Open Access Journals (Sweden)

    R Naime

    Full Text Available This study compiled data on environmental auditing and voluntary certification of environment-friendly businesses of the Commercial and Industrial Association of Novo Hamburgo, Campo Bom and Estância Velha and analysed them according to classical environmental management principles: sustainable development and corporate governance. It assessed the level of application of the concepts of corporate governance to everyday business in companies and organisations and estimated how the interconnection and vertical permeability of these concepts might help to make bureaucratic environmental management systemic, proactive and evaluative, changes that may add great value to the operations evaluated. Results showed that, when analysing only audited items not directly defined in legislation, no significant changes were identified. The inclusion of more advanced indices may promote the transition from bureaucratic management, which meets regulated environmental standards only satisfactorily, into proactive and systemic environmental management, which adds value to companies and helps to perpetuate them. Audited and analysed data did not reveal actions that depend on the internal redistribution of power and the interconnection or verticality of attitudes that may materialize concepts of corporate governance.

  3. Corporate governance and proactive environmental management in Novo Hamburgo and neighbouring cities, Brazil.

    Science.gov (United States)

    Naime, R; Spilki, F R; Nascimento, C A

    2015-05-01

    This study compiled data on environmental auditing and voluntary certification of environment-friendly businesses of the Commercial and Industrial Association of Novo Hamburgo, Campo Bom and Estância Velha and analysed them according to classical environmental management principles: sustainable development and corporate governance. It assessed the level of application of the concepts of corporate governance to everyday business in companies and organisations and estimated how the interconnection and vertical permeability of these concepts might help to make bureaucratic environmental management systemic, proactive and evaluative, changes that may add great value to the operations evaluated. Results showed that, when analysing only audited items not directly defined in legislation, no significant changes were identified. The inclusion of more advanced indices may promote the transition from bureaucratic management, which meets regulated environmental standards only satisfactorily, into proactive and systemic environmental management, which adds value to companies and helps to perpetuate them. Audited and analysed data did not reveal actions that depend on the internal redistribution of power and the interconnection or verticality of attitudes that may materialize concepts of corporate governance.

  4. The importance of corporate brand identity in business management: An application to the UK banking sector

    Directory of Open Access Journals (Sweden)

    Isabel Buil

    2016-01-01

    Full Text Available Corporate brand identity management is a key issue for any organisation. Accordingly, its study is a research field of great interest. This paper seeks to broaden the understanding of this strategic activity and its effects. Specifically, it investigates the concept of corporate brand identity from the employees’ perspective in the UK financial banking sector and analyses the link between brand identity management and employees’ attitudes and behaviours. Results indicate that organisations should pay special attention to the corporate brand identity management, given its influence on employees’ commitment with their organisations, as well as their brand performance and satisfaction.

  5. Empirical Evidence of Risk and Performance: Top Glove Corporation Berhad

    OpenAIRE

    lim, yu zhi

    2017-01-01

    The purpose of this study is desired to examine the profitability performance of Top Glove Corporation Berhad with some risk factors (liquidity risk, operating risk) and macroeconomic factors. This study was according to the annual report data of Top Glove from year 2011 to year 2015. It shows that there are negative relationship between the company’s profitability and the operating ratio. By using the IBM SPSS Statistics software and add some measurement such as GDP, inflation rate, asset si...

  6. Quantile Forecasting for Credit Risk Management Using Possibly Mis-specified Hidden Markov Models

    NARCIS (Netherlands)

    Banachewicz, K.P.; Lucas, A.

    2008-01-01

    Recent models for credit risk management make use of hidden Markov models (HMMs). HMMs are used to forecast quantiles of corporate default rates. Little research has been done on the quality of such forecasts if the underlying HMM is potentially misspecified. In this paper, we focus on

  7. TAMING TROJAN HORSES: IDENTIFYING AND MITIGATING CORPORATE SOCIAL RESPONSIBILITY RISKS

    OpenAIRE

    P. P. M. A. R. HEUGENS; N. A. DENTCHEV

    2007-01-01

    textabstractOrganizations are exposed to increasing pressures from their constituents to integrate corporate social responsibility (CSR) principles into their ongoing business practices. But accepting new and potentially open-ended commitments is not a harmless exercise, and companies may well expose themselves to serious risks when embracing such principles. To identify these risks, we conducted two naturalistic studies: one exploratory, the other corroborative. The results show that CSR ado...

  8. THE CRITICAL ANALYSIS OF LIMITED SOUTH ASIAN CORPORATE GOVERNANCE STANDARDS AFTER FINANCIAL CRISIS

    OpenAIRE

    Dinh Tran Ngoc Huy

    2015-01-01

    After the recent global crisis, corporate scandals and bankruptcy in US and Europe, there is some certain evidence on weak corporate governance, risk management and audit system. The 2009 India Code of Corporate Governance also revealed that during the crisis time, there are certain weaknesses although corporate structure is fairly durable. Hence, this paper chooses a different analytical approach and among its aims is to give some systematic opinions. First, it classifies limited South Asian...

  9. Does managerial behavior of managing earnings mitigate the relationship between corporate governance and firm value? Evidence from an emerging market

    Directory of Open Access Journals (Sweden)

    Mian Sajid Nazir

    2018-06-01

    Full Text Available The relationship between corporate governance and managerial choices for value creation is a topic of continuing interest for researchers. One of most significant managerial decisions that affect value is Discretionary Earnings Management (DEM which is the judgmental adjustments in firm's reported accounting earnings by managers to upsurge firm value temporarily. Effective corporate governance structure to control this opportunistic behavior of mangers can presumably make accounting earnings more reliable and more informative for the stakeholders and hence, increase firm value. Based on 1944 firm year observations for listed firms in Pakistan, this study aims at to analyze the role of corporate governance in enhancing firm value along with the moderating role of DEM using models proposed by Kasznik (1999 and Beatty, Ke, & Petroni (2002 for detecting earnings management practices of managers. The results report that corporate governance significantly and positively influences firm value confirming the positive role of corporate governance in mitigating agency problem and enhancing the firm value. Moreover, corporate governance mechanisms may mitigate the managers’ opportunistic behavior of manipulating the reported earnings. Furthermore, the results report that the behavior of managers is opportunistic towards managing earnings and they are destroying the current and subsequent firm value by manipulating the reported accounting earning. Finally, this opportunistic behavior of managers to manipulate earnings is negatively moderating the well-established positive relationship of corporate governance and firm value. Keywords: Corporate governance, Firm value, Discretionary earnings management, Opportunistic behavior, Kasznik model, Moderating effect

  10. Outsourcing of Corporate Information Services: Implications for Redesigning Corporate Library Services.

    Science.gov (United States)

    Agada, John

    1996-01-01

    Examines the trend in outsourcing information services and suggests it threatens the survival of corporate libraries. Topics include changes in the competitive corporate environment; characteristics of outsourceable services; managing change; redesigning the corporate librarian's role; and implications for redesigning corporate information…

  11. A decision support system for corporations cyber security risk management

    OpenAIRE

    Molina, Gabriela del Rocio Roldan

    2017-01-01

    This thesis presents a decision aiding system named C3-SEC (Contex-aware Corporative Cyber Security), developed in the context of a master program at Polytechnic Institute of Leiria, Portugal. The research dimension and the corresponding software development process that followed are presented and validated with an application scenario and case study performed at Universidad de las Fuerzas Armadas ESPE – Ecuador. C3-SEC is a decision aiding software intended to support cyber ri...

  12. Introductory analysis of sustainable consumption and production : Factors of corporate social responsibility management in Japan

    OpenAIRE

    八木, 迪幸; 國部, 克彦

    2017-01-01

    As an introductory analysis of sustainable consumption and production, this paper examines what factors influence corporate social responsibility management in Japan. Following some underlying theories (management control system; the neo-institutional theory; performance measurement systems; the stakeholder theory; the resource dependence theory), this paper conducts empirical studies using firm-level data. The first three studies examine what factors encourage corporate social responsibility...

  13. The Role Of Good Corporate Governance In Minimizing Earning Management To Increase Value Of Firm

    Directory of Open Access Journals (Sweden)

    Mardiani Tanjung

    2015-08-01

    Full Text Available Abstract The theory of an agency problem describes about the conflict of the agents interests and the principal which influence the value of a firm. The gap of information between them puts an agent in certain places to become more superior than the principal to do earning management. Good corporate governance is as a controlling mechanism and a balancing system in the company in accommodating the interest of the agent and the principal. The purpose of this paper is to present a conceptual model of best corporate governance role earning management the value of the firm by adding a compensation as another variable to minimize earning management. Good corporate governance consists of the three mechanisms which are Institutional shareholders Independent commissioner and executive compensation.

  14. Individual competencies for managers engaged in corporate sustainable management practices

    NARCIS (Netherlands)

    Wesselink, R.; Blok, V.; Leur, van S.; Lans, T.; Dentoni, D.

    2015-01-01

    Corporations increasingly acknowledge the importance of sustainable practices. Corporate social responsibility is therefore gaining significance in the business world. Since solving corporate social responsibility issues is not a routine job, every challenge in corporate social responsibility

  15. Corporate social responsibility and the future health care manager.

    Science.gov (United States)

    Collins, Sandra K

    2010-01-01

    The decisions and actions of health care managers are oftentimes heavily scrutinized by the public. Given the current economic climate, managers may feel intense pressure to produce higher results with fewer resources. This could inadvertently test their moral fortitude and their social consciousness. A study was conducted to determine what corporate social responsibility orientation and viewpoint future health care managers may hold. The results of the study indicate that future health care managers may hold patient care in high regard as opposed to profit maximization. However, the results of the study also show that future managers within the industry may continue to need rules, laws, regulations, and legal sanctions to guide their actions and behavior.

  16. 76 FR 27311 - Cobb Customer Requesters v. Cobb Electric Membership Corporation, Cobb Energy Management...

    Science.gov (United States)

    2011-05-11

    ... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. EL11-38-000] Cobb Customer Requesters v. Cobb Electric Membership Corporation, Cobb Energy Management Corporation, Cooperative Energy... April 26, 2011, Cobb Customer Requesters (CCR or Complainant) filed a complaint against Cobb Electric...

  17. Corporate Business Diplomacy

    DEFF Research Database (Denmark)

    Søndergaard, Mikael

    2014-01-01

    This article illustrates the interdisciplinary nature of the field of corporate business diplomacy using examples from academic disciplines, such as economics and political science, which can contribute to the understanding of corporate business diplomacy. Examples also show that corporate business...... diplomacy can complement business theories such as stakeholder theory and agency theory. Examples from practice show that in a broad sense, corporate business diplomacy is concerned with managing external stakeholders, while in a narrow sense, it is concerned with managing internal stakeholders....... The usefulness of an analytical research triangulation is illustrated....

  18. Intern kontrol fra et Corporate Governance Perspektiv

    DEFF Research Database (Denmark)

    Holm, Claus; Laursen, Peter Birkholm

    2003-01-01

    En stadig voksende interesse for risiko styring (Risk Management) som en central proces i virksomhedsledelse vil måske betyde en ændret opfattelse af intern kontrol. Dette artikel fokuserer på intern kontrol fra et Corporate Governance perspektiv. "Intern kontrol" kan udfra de forskellige...

  19. Papers of a Canadian Institute conference on successfully managing counter party credit risk : fundamentals and essentials for the energy industry

    International Nuclear Information System (INIS)

    2003-01-01

    The main focus of this conference is the management of credit risk for major energy trading and marketing companies. The papers deal with pertinent issues such as the development and implementation of corporate credit risk management policy, credit risk exposure reporting systems, and the quality of ratings in the utility sector. Risk management strategies include quantitative and subjective credit factors, credit scoring, risk mitigation, limit-setting methodologies, measurement of liquidity, capital markets access, portfolio management, and the development of policies, procedures and control. Three presentations were indexed separately for inclusion in the database. refs., tabs., figs

  20. Papers of a Canadian Institute conference on successfully managing counter party credit risk : fundamentals and essentials for the energy industry

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2003-07-01

    The main focus of this conference is the management of credit risk for major energy trading and marketing companies. The papers deal with pertinent issues such as the development and implementation of corporate credit risk management policy, credit risk exposure reporting systems, and the quality of ratings in the utility sector. Risk management strategies include quantitative and subjective credit factors, credit scoring, risk mitigation, limit-setting methodologies, measurement of liquidity, capital markets access, portfolio management, and the development of policies, procedures and control. Three presentations were indexed separately for inclusion in the database. refs., tabs., figs.

  1. Risk Management, Corporate Governance and Investment Banking: The Role of Chief Risk Officer

    OpenAIRE

    Afanasyeva, Olga; Lapina, Yulia; Scherbina, Tetiana

    2013-01-01

    This paper focuses on the defining the role of CRO in corporate governance and to show the interrelation between the way of CRO subordination and performance of investment bank. The sample consists of observations over a period of 2011 for 29 biggest investment banks (by amount of assets) implementing world-wide investment activity. The banks are originated in the USA (8), Eastern Europe (14), China (2), Japan (2), Canada (2), and Australia (1). With the aim to evaluate and compare financial ...

  2. Financial Perceptions on Oil Spill Disasters: Isolating Corporate Reputational Risk

    Directory of Open Access Journals (Sweden)

    José M. Feria-Domínguez

    2016-11-01

    Full Text Available The aim of this paper is to isolate the corporate reputational risk faced by US oil and gas companies—as listed on the New York Stock Exchange (NYSE—after recent oil spill disasters. For this purpose, we have conducted a standard short-horizon daily event study analysis aimed at the calibration of the financial perceptions caused by these environmental episodes between 2005 and 2011, and the drop effect on the market value of the firms analyzed. We not only find significant negative impact on the stock prices of the companies analyzed but also significant cumulative negative abnormal returns (CAR around the accidental spillages, especially for the longest event windows. Corporate reputational risk is also identified and even measured by adjusting abnormal returns by a certain loss ratio. A new metric, CAR(Rep, is then proposed to disentangle operational losses and the reputational damage derived from such negative financial perceptions.

  3. Analysis of Corporate Environmental Management: Methodological Aspects

    DEFF Research Database (Denmark)

    Madsen, Henning; Ulhøi, John Parm

    2001-01-01

    in business presents a challenge to management, however, since it implies a fundamental change in some of the ways of operating a company. This paper will briefly discuss how information on the actual extent of environmental management in Danish companies and the way it is applied has been collected based......Human activities cannot avoid influencing conditions in the natural environment one way or the other. This includes as well common activities in the business sector. But during the past few decades, environmental disasters in Seveso and Bhopal, and the Exxon Valdes oil spill in Alaska have...... contributed to an increasing awareness of the effect of business activities on the physical environment. To assist companies reduce, evaluate, monitor and control their environmental impact the concept of corporate environmental and resource management has been developed. Implementation of this concept...

  4. Corporate Innovation Management Framework Based On Design Thinking

    DEFF Research Database (Denmark)

    Efeoglu, Arkin; Møller, Charles; Serie, Michel

    2014-01-01

    This paper proposes use of an Innovation Management Framework through the roll-out of Design Thinking in a multi-national company by applying adequately framed organizational governance. An Innovation Management Framework based on the principles of Design Thinking is providing central pillars...... that not only ensure effective governance. The elevation both from Innovation Management to foster Design Thinking and vice versa the Design Thinking characteristics that strengthen the corporate innovativeness through governance is in focus. With the latter in mind, this paper therefor looks on Innovation...... to be governed. An Innovation Management Framework with principles of DT may avoid uncoordinated innovation capabilities. Ultimately innovation will not be an R&D topic anymore but become part for every employee’s job, irrespective of his or her position. In a previous paper DT characteristics were evaluated...

  5. Who times the foreign exchange market? Corporate speculation and CEO characteristics

    NARCIS (Netherlands)

    Beber, A.; Fabbri, D.

    2008-01-01

    This paper documents that managers' compensation and personal characteristics explain a large share of the substantial time-variation of derivatives use, suggesting that corporate risk management deviates from textbook hedging. We construct a panel data set of foreign currency derivatives holdings

  6. Strategic human resource management and corporate social responsibility: Evidence from Emerging Markets

    Directory of Open Access Journals (Sweden)

    Talita Rosolen

    2016-09-01

    Full Text Available Corporate social responsibility practices are increasingly being adopted and legitimized in business and they impact the strategic and operational levels in various areas. The integration of these criteria and practices in the strategic management involves many factors, and human resource management is an essential aspect for the accomplishment of such initiative. Thus, this paper associates the relationship among corporate social responsibility (CSR various dimensions (strategic, ethical, social and environmental and strategic human resource management (SHRM in companies operating in Brazil. We also aim to identify whether there is impact of other aspects on this relationship, namely: size, industry and company internationalization level (if national or multinational. Results show evidence that ethical CSR can be associated to SHRM. Environmental CSR showed marginal relation, and social and strategic CSR presented no significant association. Those results emphasize the need to further develop strategic actions of CSR into human resource management in emerging markets. Managers can also benefit from those findings, as it is possible to have a broad view of limitations and opportunities regarding the role played by human resource management in CSR.

  7. The Influence of Corporate Governance Perception Index, Profit Management, and Industrial Type To Environmental Disclosure.

    Directory of Open Access Journals (Sweden)

    Amanda Chrysanti

    2015-12-01

    Full Text Available Thisresearchaims to empirically analyze the influence ofCorporate Governance Perception Index, earnings management,and industry type on environmental disclosure. Environmental Disclosure is the dependent variables in this research were measured by scoring technique based on GRI3.1 Guidelines. For the independent variables in this research, using Corporate Governance Perception Index were measured by CGPI index score, earnings management were measured by discretionary accruals, and industry type were measured bycategorial. This research uses secondary data which population are companies entered Corporate Governance Perception Index in 2009-2012. While the sampling method used was purposive sampling method which is overall 44 sample choose. This research uses multiple regression method to test the hypothesis with SPSS computer program. From the analysis performed in this research, it can be concluded that Corporate Governance Perception Index has positively and significant influence to environmental disclosure. The other hand earnings management has no significant influence to environmental disclosure. The last one industry type has negatively and significant influence to environmental disclosure.

  8. Managing climate change risk : emerging financial sector expectations

    International Nuclear Information System (INIS)

    Williams, R.

    2004-01-01

    Engagement of the financial sector in the climate change debate is apparent, with social investors and advocacy groups launching 32 climate change related shareholder resolutions with American and Canadian energy companies in 2003. Eos Research and Consulting Ltd. recently conducted a study to examine emerging standards for how energy companies manage climate change related risks. A survey was conducted in the first part of the study to determine the environmental awareness of energy companies. Financial firms were asked whether they sought information concerning GHG inventories; projections of future emissions; action plans for addressing climate change and energy efficiency; evaluation of relative risk; estimation of cost of carbon; assessment of financial impact; evaluation of future regulations; and emissions trading activity. The second part of the study compared the response of 11 leading energy companies. The result was 2 opposing views on how climate change risks should be managed. The survey revealed that while most mainstream financial institutions are not paying much attention to climate change issues, socially responsible investment (SRI) investors are aware and working to factor climate change risk management information into their activities. In addition, SRI is growing at a faster pace than other investment segments, which may lead to greater future expectations for energy companies' climate change risk management efforts. It was concluded that the financial sector may emerge as an important source of direction that will guide energy companies in their future efforts to manage climate change risks. The five trends that contribute to the sector's emerging role are the continuing influence of advocacy groups; evolution of socially responsible approaches to investment; growing concerns for reputation; development of financial risk assessment approaches in terms of climate change; and, increase focus on corporate governance issues. 15 refs., 2 tabs., 1

  9. A preliminary framework for corporate real estate sustainable management

    Directory of Open Access Journals (Sweden)

    Fauzi Nurul Sahida

    2016-01-01

    Full Text Available The global warming issue has motivated corporations to go green in their business operations including transforming from conventional real estate to green features real estate. However green CRE is more complex to manage due to a building’s significant impact on environmental, social and economic aspects. Thus the need to have a best practice guide or framework as reference is crucial. Unfortunately, no best practice guidelines on CRE management have been found to be sufficient as much uncertainty still exists on the sustainable performance measurement components. This research aims to explore and then summarize the present sustainable CREM practices and components relating to sustainable performance measurement integrating a sustainable theory that balances environmental, economic and social impacts. These act as indicators to measure the outcomes of the practice in the form of a generic model on sustainability preliminary framework for CRESM. The objectives of this research include identifying corporate real estate sustainable management (CRESM practice and components of sustainable performance measurement. The research uses content analysis method to analyse data gathered from literature and previous studies. The findings will be demonstrated in the form of a framework model on CRESM that will include14 CREM strategies and 15 components derived from analysis.

  10. Corporate social capital and strategic management paradigm : a contingency view on organizational performance

    NARCIS (Netherlands)

    Leenders, Roger Th.A.J.; Gabbay, Shaul M.; Fiegenbaum, Avi

    2001-01-01

    The strategic management paradigm explains organizational performance through the alignment between environment, strategy, and reference points. We extend this paradigm by incorporating the role of interorganizational networks on firm performance, thus integrating strategic management and corporate

  11. The Influence of Structure of Joint-Stock Property on the Efficiency of Corporate Management System of Domestic Enterprises

    Directory of Open Access Journals (Sweden)

    Trokhymchuk Viktoriia V.

    2017-03-01

    Full Text Available The article is aimed at exploring and analyzing the structure of joint-stock property of Ukrainian enterprises, as well as evaluating its impact on efficiency of the system of corporate management. By studying the results of the privatization of public enterprises and dynamics of the number of companies in recent years, a tendency towards reduction of their total number has been identified. It has been determined that the structure of joint-stock property of domestic enterprises is characterized by a high degree of its concentration. An analysis of the corporate management system of enterprises comparing with the best international practices has displayed a fairly low level of the corporate management efficiency of domestic companies. It has been determined that in these circumstances, consolidation of property in Ukraine became the tool for protecting enterprises from hostile takeover. Measures to eliminate factors, impeding the formation of effective ownership structure of joint-stock property and the related corporate management system, have been proposed. Prospects for further researches will be monitoring changes in the quality of corporate management and property structure of domestic enterprises, as well as studying the factors that cause them.

  12. HOFSTEDE’S CULTURAL DIMENSIONS AND MANAGEMENT IN CORPORATIONS

    Directory of Open Access Journals (Sweden)

    Alexandrina Cristina VASILE

    2016-06-01

    Full Text Available In many cases the success or failure in management is caused by the way leaders understand the cultural environment the companies develop. The leadership approach and rules applied increase or decrease performance in economies and companies. The paper describes the relation between management failure or success and the management adjustment to the cultural dimensions. People build organizations and rule them according to their values, but in the corporation field specific values might be successfully applied or implying the whole company failure. The analysis is made based on Hofstede research and having in mind his dimensions on a dynamic hypothetical case where there are taken into account cultural dimensions for Romania, Germany, Kazakhstan and United States of America.

  13. Facilities Management and Corporate Real Estate Management as Value Drivers: How to Manage and Measure Adding Value

    DEFF Research Database (Denmark)

    Facilities Management (FM) and Corporate Real Estate Management (CREM) are two closely related and relatively new management disciplines with developing international professions and increasing academic attention. Both disciplines have from the outset a strong focus on controlling and reducing cost...... for real estate, facilities and related services. In recent years there has been a change towards putting more focus on how FM/CREM can add value to the organisation. The book is research based with a focus on guidance to practice. It offers a transdisciplinary approach, integrating academic knowledge from...

  14. Corporate risk and external sourcing: A study of Scandinavian multinational firms

    DEFF Research Database (Denmark)

    Aabo, Tom; Pantzalis, Christos; Sørensen, Helle

    2016-01-01

    data by surveying Scandinavian non-financial firms. We find that highly international firms reduce corporate risk by externally sourcing from foreign suppliers both compared to sourcing from own production facilities abroad (due to superior flexibility) and compared to domestic sourcing (due...

  15. Corporate Social Responsibility and Earnings Management : Evidence from Asian Economies

    NARCIS (Netherlands)

    Scholtens, Bert; Kang, Feng-Ching

    2013-01-01

    We investigate how earnings management is associated with corporate social responsibility (CSR) and investor protection with 139 firms in ten Asian countries. In Asia, CSR is increasingly attracting attention but the legal system generally is perceived as being poor. We hypothesize that there is an

  16. Women on boards and corporate social responsibility

    Directory of Open Access Journals (Sweden)

    Francesca Gennari

    2016-02-01

    Full Text Available Data by EU Commission show a low representation of women on boards. The scope of this article is to read contemporary and according to a managerial approach the possible causes of this situation: the availability of skills possessed by women to cover top positions, the presence of binding or self-regulatory rules and the corporate culture towards CSR approach. Our research is focused on EU countries, where the gender equality on board is currently matter of attention and regulatory interventions. We conclude that the scarce presence of women in the boardrooms is not ascribable to a scarcity of expertise, but it is associated with a social background and a corporate culture not inspired by corporate global responsibility values. Regulatory interventions may accelerate the consciousness of gender balance on boards, but without companies’ commitment in CSR matters and without a clear vision of corporate global responsibility (including economic, social and environmental aspects, they tend to become additional tasks in the management of corporate compliance risk.

  17. Managing diverse occupational therapy resources in a creative, corporate model.

    Science.gov (United States)

    Baptiste, S

    1993-10-01

    Two occupational therapy departments were amalgamated into a corporate whole and charged with the development of a workable, corporate structure. The departmental model which was developed served to enhance the concepts of quality of working life, employee autonomy, management team and quality circle theory. This paper provides a background from business and organizational literature, and outlines the development of the departmental model, in concert with the adoption of the client-centred model of occupational performance as a department basis for practice. This development was taking place concurrently with larger, institutional changes into a decentralized clinical programme management model. Discussion highlights the level of staff satisfaction with the changes, areas of concern during the development of the system and plans for the future growth. During this period of massive and critical change in the delivery of health care services, there has been a trend in restructuring health care institutions towards decentralized models. This paper will describe the experience of one occupational therapy department in developing an innovative departmental structure involving participatory management amalgamation. It is believed that the experience of the past occupational therapy work units with one viable option for a renewed management model. Staff skill sets can be maximized and optimal potential realized while faced with inevitable resource shrinkage and service reorganization.

  18. Corporate Foresight and Strategic Decisions

    DEFF Research Database (Denmark)

    Gomez Portaleoni, Claudio; Marinova, Svetla Trifonova; Ul-Haq, Rehan

    . It provides an extensive analysis of extant theories of corporate foresight and strategic management, brings in new notions and insights, and presents an in-depth case study exploration of corporate foresight of a European bank. The understanding of organizational future is influenced by the perceived......The investigation of the future of an organization has always captivated the attention of academics and business managers. Presently, the aspiration to entrench future-relevant insights into management practices is a must. Companies that have made attempts to use corporate foresight have generally...... dealt successfully with internal information sharing processes that in most cases have prepared them for the challenges of the future. Corporate Foresights and Strategic Decisions investigates the relationships between corporate foresight and management decision-making processes in organizations...

  19. The role of records management as a tool to identify risks in the public sector in South Africa

    Directory of Open Access Journals (Sweden)

    Mpho Ngoepe

    2014-06-01

    Objectives: The study utilised the King III report on corporate governance in South Africa as a framework to investigate the role of records management in identifying risks in the public sector, with a view to entrench the synergy between records management and risk management. Method: Quantitative data were collected through questionnaires distributed to records managers, risk managers and auditors in governmental bodies in South Africa. Provisions of the King III report, guided the research objectives. Results: Even though the study established that there is a reciprocal relationship between risk identification and records management, most governmental bodies in South Africa lack records management and risk-mitigating frameworks or strategy. Furthermore, records management did not feature in most governmental bodies’ risk registers. It has been established that most governmental bodies have established risk committees that do not include records management practitioners. In most governmental bodies, risk management resides within internal audit functions. Conclusion: The study concludes by arguing that a strong records management regime can be one of an organisation’s primary tools in identifying risks and implementing proper risk management. Therefore, records management should be integrated with risk management processes for organisations to benefit from the synergy.

  20. Enterprise Risk Management in the Oil and Gas Industry: An Analysis of Selected Fortune 500 Oil and Gas Companies' Reaction in 2009 and 2010

    Science.gov (United States)

    Rogers, Violet C.; Ethridge, Jack R.

    2016-01-01

    In 2009, four of the top ten Fortune 500 companies were classified within the oil and gas industry. Organizations of this size typically have an advanced Enterprise Risk Management system in place to mitigate risk and to achieve their corporations' objectives. The companies and the article utilize the Enterprise Risk Management Integrated…

  1. An evaluation of the Well at Dell health management program: health risk change and financial return on investment.

    Science.gov (United States)

    Musich, Shirley; McCalister, Tre'; Wang, Sara; Hawkins, Kevin

    2015-01-01

    To investigate the effectiveness of the Well at Dell comprehensive health management program in delivering health care and productivity cost savings relative to program investment (i.e., return on investment). A quasi-experimental design was used to quantify the financial impact of the program and nonexperimental pre-post design to evaluate change in health risks. Ongoing worksite health management program implemented across multiple U.S. locations. Subjects were 24,651 employees with continuous medical enrollment in 2010-2011 who were eligible for 2011 health management programming. Incentive-driven, outcomes-based multicomponent corporate health management program including health risk appraisal (HRA)/wellness, lifestyle management, and disease management coaching programs. Medical, pharmacy, and short-term disability pre/post expenditure trends adjusted for demographics, health status, and baseline costs. Self-reported health risks from repeat HRA completers. Analysis: Propensity score-weighted and multivariate regression-adjusted comparison of baseline to post trends in health care expenditures and productivity costs for program participants and nonparticipants (i.e., difference in difference) relative to programmatic investment. The Well at Dell program achieved an overall return on investment of 2.48 in 2011. Most of the savings were realized from the HRA/wellness component of the program. Cost savings were supported with high participation and significant health risk improvement. An incentive-driven, well-managed comprehensive corporate health management program can continue to achieve significant health improvement while promoting health care and productivity cost savings in an employee population.

  2. Corporate culture: It's impact on corporate life and business ...

    African Journals Online (AJOL)

    Corporate culture: It's impact on corporate life and business practices in Nigeria. ... on the work behaviour of management strategists and business policy makers. ... culture include, multinational organizations as well as mergers/acquisitions.

  3. Corporate qualitative and quantitative assessment

    Directory of Open Access Journals (Sweden)

    Maria – Monica Haralambie

    2016-08-01

    After the financial crisis, two key concerns have been raised regarding banks’ activities: “too little, too late” provisioning for loan losses and “too big to fail”. The credit risk management subject became not only a compliance exercise for banks, but also a key item considered when establishing the strategy and execution path. Our intention within this paper is to discuss some of the specific issues related to credit risk management, considered by commercial banks when analysing a corporate client. The result of this research is a web application named CISS (Credit Institution Scoring System, which represents a proof of concept for a bank credit scoring system. The application was developed using HTML + MySQL + PHP solutions.

  4. Not invented here : managing corporate innovation in a new era

    NARCIS (Netherlands)

    Vrande, van de V.J.A.

    2007-01-01

    Not Invented here: Managing Corporate Innovation in a New Era External technology sourcing as a means to develop new businesses is taking a more central role in established companies. Acquiring new technologies from outside the firm which speeds up the innovation process and complements internal R&D

  5. The importance and role of the corporate governance mechanism in increasing the level of management efficiency

    Directory of Open Access Journals (Sweden)

    Đorđević Slaviša

    2012-01-01

    Full Text Available There is inherent conflict of interests between owners and managers. They try to solve it in different ways. In this paper we have tried to briefly introduce the most important internal mechanisms of corporate governance (monitoring by the board of directors, incentive system for managers, internal audit and the importance of institutional investors. The financial scandals that included the world-famous corporations as well as current world economic crisis suggests that the protection of owners should continue to work to improve existing or new solutions that will improve the level of corporate governance.

  6. The Influence of Corporate Governance Mechanism on the Relationship between Related Party Transactions and Earnings Management

    Directory of Open Access Journals (Sweden)

    Aria Farah Mita

    2014-04-01

    Full Text Available The objective of this study is to investigate the relationship between related party transactions (RPT and earnings management. This study argues there is a different influence between RPT a priori likely to result in expropriation and RPT a priori not likely to result in expropriation. RPT a priori likely to result in expropriation creates an incentive to management or controlling shareholder to overstate income to cover or mask their expropriation. This study uses non-absolute discretionary accruals based on Kazsnik model to proxy earnings management. Corporate governance mechanism should reduce the incentive to overstate income in a company that involves in RPT a priori likely to result in expropriation. The results of this study show that the earnings management (income increasing is affected by the existence of RPT a priori likely to result in expropriation and corporate governance mechanism, but it is not affected by the size/value of the transactions. As expected, companies involving in RPT a priori likely to result in expropriation with weak corporate governance mechanism, tend to manage earnings that increase income. We find that strong corporate governance mechanism decreases the discretionary accruals in companies which have RPT a priori likely to result in expropriation.

  7. THE CRITICAL THINKING OF SOME WESTERN EUROPEAN CORPORATE GOVERNANCE STANDARDS AFTER FINANCIAL CRISIS, CORPORATE SCANDALS AND MANIPULATION

    Directory of Open Access Journals (Sweden)

    Dinh TRAN NGOC HUY

    2013-12-01

    Full Text Available After the recent global crisis, corporate scandals and bankruptcy in US and Europe, there is some certain evidence on weak auditing, risk management, accounting and audit system. This paper chooses a different analytical approach and among its aims is to give some systematic opinions on corporate governance criteria as a benchmark for stock markets. Firstly, it classifies limited Western European representative corporate governance (CG standards into two (2 groups: The Netherlands and Belgium latest CG principles covered in group 1 and, group 2, including corporate governance principles from Italy and Austria, so-called relative good CG group, while it uses OECD and ICGN principles as reference. Secondly, it identifies through analysis the differences and advantages between the above set of standards which are and have been used as reference principles for many relevant organizations. Third, it establishes a selected comparative set of standards for Western European representative corporate governance system in accordance to international standards. Last but not least, this paper covers some ideas and policy suggestions.

  8. Exploring corporate eco-modernism: Challenging corporate rhetoric and scientific discourses

    DEFF Research Database (Denmark)

    Ulhøi, John Parm; Welford, Richard

    2000-01-01

    in shaping a new corporate environmentalism and, ten years on, we argue that it is time to step back and critically assess the nature and scope of corporate actions and scientific research within the field of corporate environmental management. This paper starts from the assertions that: (i) disturbing...

  9. Delineation of the corporate use of Environmental Information Systems (EIS: Selected cases of the Corporate Organizations in Tanzania

    Directory of Open Access Journals (Sweden)

    Felichesmi Selestine Lyakurwa

    2013-11-01

    Full Text Available Environmental information systems are essential platforms for the provision of adequate and relevant information necessary for the planning and decision making for greener production. Corporate use of Environmental Information Systems gained several benefits in the global and local markets. Nevertheless, there was no documentation to explain the extent to which corporate organizations utilize available Environmental Information Systems in Tanzania. This study used purposive sampling with informants being workers from the strategic, tactical and control functions of the corporate organization. Moreover, data collection involved survey of 50 corporate organizations in Dar es Salaam, Arusha, Moshi and Morogoro councils, with 71 respondents. The collected data includes exploration of the extent to which corporate management functions utilize available Environmental Information Systems in Tanzania. The study identified various corporate environmental management functions performed at all levels of the corporate organization, in which workers spends less than one hour on the environmental information systems available. The results also revealed that, there is adequate utilization of available Environmental Information Systems for environmental management. Therefore, the research outcomes provides inputs to corporate organization unit managers, corporate owners and other environmental stakeholders on the extent of the systems’ use as well as sharing experience on different environmental management systems used worldwide. Keywords: Environmental information system, corporate organization, Tanzania, management

  10. AN INTRODUCTION TO BEHAVIORAL CORPORATE FINANCE

    Directory of Open Access Journals (Sweden)

    Turcan Radu

    2012-12-01

    Full Text Available The purpose of this paper is to reflect the behavioral aspects that govern corporations. The paper briefly presents some of the main pillars of behavioral corporate finance: management, closed – end funds puzzle, dividends and the importance of aggregate earnings releases. The first pillar consists in a brief presentation of the behavioral factors related to the management of corporations, such as the fact that independent directors are not that independent as they should be, they do not have the prerequisite expertise for assessing complex financial risks, the importance of ethics and having a corporate culture that nurtures doing the right thing above anything else and the fact that CEO’s decisions reflect in good part, their personal style rather than a set of criteria determined by the company. In the second part of the paper, it is treated the puzzle why would investors buy a closed-end fund at its IPO price, knowing that it is likely to fall to a discount, when they could buy instead an open-end fund that is guaranteed always to trade at par and some mentions about the way that dividend policy may be influenced by managers “catering” to the demands of investors and also the effects of aggregate earnings announcements over the market returns.

  11. The Case For Corporate Responsibility: An Exploratory Study

    Directory of Open Access Journals (Sweden)

    Lucy da Piedade

    2006-11-01

    Full Text Available Stakeholder demands and the introduction of the ‘triple bottom line’ as a means of reporting corporate performance, make it critical that South African companies assess why they should undertake corporate responsibility initiatives. This exploratory study (part two of a two-part study investigated the issues that are being or should be addressed by companies under the banner of corporate responsibility and the reasons for this. The views of a convenience snowball sample of consultants, academics and practitioners of corporate responsibility, was gained by means of a Delphi technique. Content analysis was employed to categorise the views into themes. The findings indicate the need for corporate responsibility action in the areas of ecology, the environment, health and well-being, building human capital and in the encouragement of economic development. Cost benefit and defensive arguments dominate the case for corporate responsibility. There is little indication that organisations have identified the opportunity of corporate responsibility initiatives to increase innovation and organisational learning and its contribution to risk management. Recommendations are made regarding the assessment of investment in this area.

  12. The Recipe for Corporate Longevity: From the Perspective of "Managing Innovation".

    Science.gov (United States)

    Griesar, Klaus; Bessant, John; Bernschneider-Reif, Sabine

    2018-04-09

    The elephant is in the room-a metaphorical idiom for an obvious problem or risk that nobody wants to discuss. This abstract is not intended to be a summary, to reveal major findings, or unveil conclusions. On the contrary, it is aimed to provoke curiosity as to the question of corporate survival. Is there any recipe to be followed for companies to achieve this? The answer comes neither from the modest and traditional study rooms of philosophers nor the recent fact-based studies from the offices (and well-paid opinions) of business consultants. The Archimedean point from which we can objectively explore the subject of corporate survival does not exist. Instead we offer seven analogies (or metaphors) as intellectual platforms where new perspectives can be considered. Innovation obviously plays a major role in corporate survival-yet, by its nature all innovation is messy. In order to reduce entropy, this abstract reveals some keywords in alphabetical order starting from A, such as ambidexterity, architecture, and ant colonies, moving on to B, such as, (mental) boxes and biodiversity. For obvious reasons, C plays a major role-sufficiently that we have already revealed curiosity as one part of the answer-treading over to D (Darwin, DNA, and discontinuity), followed by E (earthquakes and evolution). As a final warning signal in order to manage the expectation: It is not the intention of this article to give a comprehensive overview about the rich and complex history of Merck KGaA, Darmstadt, Germany. Indeed, only the final chapter will provide reference to this company: Before the curtains will finally close, an epilogue will start in which one of the protagonists of the 350-year journey of the company-Emanuel Merck-will appear on the stage and "let history speak for itself". Still curious? © 2018 Wiley-VCH Verlag GmbH & Co. KGaA, Weinheim.

  13. The Management of Training in Multinational Corporations: Comparative Case Studies.

    Science.gov (United States)

    Noble, Charles

    1997-01-01

    Case studies of British and Australian multinational corporations in the food and drink industry investigated how training and development are managed. Competency-based education and industry boards are important elements in both countries. Lack of a training culture in the industry and little innovation in training were observed. (SK)

  14. Integration of CATIA/Smarteam into CERN's corporate engineering data management system

    CERN Document Server

    Hakulinen, Timo; Friman, Per Olof; Pettersson, Thomas Sven; Van Uytvinck, E; Widegren, David; Fournier, G

    2008-01-01

    We present a short overview of the strategy defined to integrate the 3D CAD system CATIA/Smarteam into CERN's corporate Engineering and Equipment Data Management System (EDMS), which is used to manage the information about the Laboratory's installations and technical infrastructure. A brief description of the existing EDMS architecture is given, describing the available project life cycle management features, including CATIA/Smarteam. An overview of the design office requirements on the new CAD system is also presented.

  15. Risk management.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

    Every plan contains risk. To proceed without planning some means of managing that risk is to court failure. The basic logic of risk is explained. It consists in identifying a threshold where some corrective action is necessary, the probability of exceeding that threshold, and the attendant cost should the undesired outcome occur. This is the probable cost of failure. Various risk categories in dentistry are identified, including lack of liquidity; poor quality; equipment or procedure failures; employee slips; competitive environments; new regulations; unreliable suppliers, partners, and patients; and threats to one's reputation. It is prudent to make investments in risk management to the extent that the cost of managing the risk is less than the probable loss due to risk failure and when risk management strategies can be matched to type of risk. Four risk management strategies are discussed: insurance, reducing the probability of failure, reducing the costs of failure, and learning. A risk management accounting of the financial meltdown of October 2008 is provided.

  16. ETHICAL ISSUES IN THE EMPLOYMENT OF EXPATRIATE LEADERS IN CORPORATIONS

    Directory of Open Access Journals (Sweden)

    Anona F. Armstrong

    2017-03-01

    Full Text Available This paper draws upon theories of leadership and ethics to add to the understanding of ethical and cultural factors that impact on expatriates’ experiences. The paper discusses issues for expatriates, particularly relevant for those who are appointed as leaders of corporations in other countries. The paper addresses a wide range of cultural issues and how expatriates might manage the conflicts and risks emerging from different cultural values, attitudes and practices. Examples of the difficulties faced are given, as are consequences. The article concludes with some general observations, particularly relevant to those people employed as corporate expatriate managers.

  17. Bank liquidity risk management: A South African survey to determine future change

    Directory of Open Access Journals (Sweden)

    S. Claassen

    2012-09-01

    Full Text Available In 2008 the global financial system and, more particularly, the world banking system suffered a financial crisis worse than any earlier crises. The financial crunch brought to light that liquidity risk management in banks poses a problem, and that the world’s financial institutions will have to change their current practices as it relates to this risk. Apart from the importance of liquidity and the risk that it may cause, the integrated nature of all risks made banks more aware of the fact that none of these risks can be managed in isolation. For various reasons, South African banks were not as exposed to the problems experienced in the global context. However, SA banks may have learned new lessons from the crisis and may plan to change the way they manage liquidity risk in particular, in the future. In order to determine how SA banks perceive liquidity management and liquidity risk, a survey of all SA banks was carried out. The majority of respondents indicated that the financial crisis reminded them of the importance of liquidity risk management in the South African banking system as well as the global banking system. The majority of banks rate all the liquidity risk management tools as extremely important and rate corporate governance, strategy, policy and risk tolerance, liquidity risk measurement and intra-day liquidity as their number one priority. Basel III is generally perceived as being effective, but 30% of respondents perceived it as neither effective nor ineffective, because South African banks already have similar measures in place

  18. Intelligence analysis in corporate security

    Directory of Open Access Journals (Sweden)

    Manojlović Dragan

    2014-01-01

    Full Text Available Located in the survey indicate that the protection of a corporation, its internal and external interest from the perspective of quality data for intelligence analysis and the need for kroporacije and corporate security. Furthermore, the results indicate that the application is not only practical knowledge of intelligence analysis, but also its scientific knowledge, provides epistemologically oriented critique of traditional techniques undertaken in corporate security in connection with the analysis of the challenges, risks and threats. On the question of whether it can and should be understood only as a form of corporate espionage, any aspect of such a new concept in the theory and practice of corporate security, competitive intelligence activities, as well as an activity or involves a range of different methods and techniques meaningful and expedient activities to be implemented integrally and continuously within corporate security, given the multiple responses to the work. The privatization of intelligence activities as an irreversible process that was decades ago engulfed the western hemisphere, in the first decade of the third millennium has been accepted in Europe, in the sense that corporations at national and multinational levels of system intelligence analysis used not only for your safety but also for the competition, and nothing and less for growth companies and profits. It has become a resource that helps control their managers in corporations to make timely and appropriate decisions. Research has shown that intelligence analysis in corporate security one factor that brings the diversity of the people and give corporations an advantage not only in time, but much more on the market and product.

  19. Cultural Conditions in Diversity Management: The Case Study of the Corporation Operating in the Transportation and Logistics Industry

    Directory of Open Access Journals (Sweden)

    Barbara Czerniachowicz

    2017-06-01

    Full Text Available The aim of this paper is to present selected aspects of organi­sational culture and human capital management, and indicate the deter­minants of cultural conditions in diversity management based on the corporation A. A modern enterprise, in order to remain competitive, poses challenges to its employees to encourage their need for learning, explora­tion of knowledge and the change along with the changing environment. In order to achieve the aim of the paper, the following operational objec­tives have been formulated: (1 to discuss the concepts of organisational culture and cultural factors of changes in the organisation on the example of the corporation operating in the transportation and logistics industry; (2 to identify mutual correlations between organisational culture and diversity management; (3 to assess the impact of cultural factors related to the base of diversity management in the corporation A. The analysis is based on the findings from questionnaire surveys, detailed interviews with the top management and source materials collected from the corporation.

  20. Risk management

    OpenAIRE

    Mcmanus, John

    2009-01-01

    Few projects are completed on time, on budget, and to their original requirement or specifications. Focusing on what project managers need to know about risk in the pursuit of delivering projects, Risk Management covers key components of the risk management process and the software development process, as well as best practices for risk identification, risk planning, and risk analysis. The book examines risk planning, risk analysis responses to risk, the tracking and modelling of risks, intel...

  1. Managing corporate capabilities:theory and industry approaches.

    Energy Technology Data Exchange (ETDEWEB)

    Slavin, Adam M.

    2007-02-01

    This study characterizes theoretical and industry approaches to organizational capabilities management and ascertains whether there is a distinct ''best practice'' in this regard. We consider both physical capabilities, such as technical disciplines and infrastructure, and non-physical capabilities such as corporate culture and organizational procedures. We examine Resource-Based Theory (RBT), which is the predominant organizational management theory focused on capabilities. RBT seeks to explain the effect of capabilities on competitiveness, and thus provide a basis for investment/divestment decisions. We then analyze industry approaches described to us in interviews with representatives from Goodyear, 3M, Intel, Ford, NASA, Lockheed Martin, and Boeing. We found diversity amongst the industry capability management approaches. Although all organizations manage capabilities and consider them to some degree in their strategies, no two approaches that we observed were identical. Furthermore, we observed that theory is not a strong driver in this regard. No organization used the term ''Resource-Based Theory'', nor did any organization mention any other guiding theory or practice from the organizational management literature when explaining their capabilities management approaches. As such, we concluded that there is no single best practice for capabilities management. Nevertheless, we believe that RBT and the diverse industry experiences described herein can provide useful insights to support development of capabilities management approaches.

  2. CORPORATE SOCIAL RESPONSIBILITY IMPACTS ON SUSTAINABLE HUMAN DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Kerstin Anstätt

    2016-06-01

    Full Text Available The goal of this article is to critically analyze the findings of the first, recently published, studies about Corporate Social Responsibility (CSR impacts on Sustainable Human Development (SHD. We aim at deriving conclusions for effective CSR strategies and at identifying consequences for management and research. As CSR claims to create value for corporations and for society, we argue that the people-centered Capability Approach (CA is promising to provide neglected and much needed insights how corporate activities affect individuals and communities. Based on a survey of recent literature addressing CSR impacts on SHD, we highlight CSR potentials to improve average well-being in multiple dimensions of SHD. Moreover, we critically assess challenges and limitations of CSR as a strategy to preserve and foster SHD. For instance, studies have shown that, despite CSR-driven well-being increases, social capital, relational capabilities and collective agency may become challenged by corporate strategies. Moreover, corporate environmental impacts have been found to be less often addressed by both, companies and SHD researchers. Resulting inequality and fairness issues have been identified as causes of violence against corporations even in the presence of total well-being improvements. We conclude that companies should strategically take into account a comprehensive range of factors driving and hampering SHD to account for their whole portfolio of corporate opportunities and risks. This requires evaluating CSR impacts instead of only focusing on CSR inputs and outputs. Thereby, corporations can mitigate their risks, improve their stakeholder trust and strengthen their competitiveness.

  3. Crisis management to avoid damage for corporate reputation: the case of retail chain crisis in the Baltic countries

    OpenAIRE

    Šontaitė-Petkevičienė, Miglė

    2014-01-01

    This paper analyses crisis management in relation to its effect on corporate reputation. It provides theoretical analysis of crises management actions that contribute to avoid damage for corporate reputation. Empirical research of the paper provides case analysis of retail chain “Maxima” crisis management in the Baltic countries. Even though retail chain “Maxima” has made several mistakes during crisis, in general crisis was managed properly so this case provides valuable insights how prevent...

  4. Risk Management Of Email And Internet Use In The Workplace

    Directory of Open Access Journals (Sweden)

    John C Ruhnka

    2013-09-01

    Full Text Available The article surveys the changing risk environment for corporations from their employees electronic communications. It identifies the types of liabilities thatcorporations can incur from such communications. It presents the objectives of corporate internet use policies and the types of provisions such policies should contain. It suggests an alternative risk-based approach to corporate acceptable use policies instead of atraditional “laundry list” of internet use prohibitions.

  5. Corporate Governance and its Impact on Firm Performance and Risk in Food and Beverages Industry: Empirical Analysis on Dutch Lady Berhad

    OpenAIRE

    Erizal, Nurulhidayu

    2017-01-01

    The main objective of this study was to investigate the relationship between Corporate Governance and its impaction firm performance and risk in food and beverage industry. Specifically, this study examined liquidity risk, credit risk and leverage and how they affect to the Corporate Governance. For the firm performance was measured with using Return on Asset (ROA). In this study it found that a strong relationship exists between the Corporate Governance practices under study and the firm’s f...

  6. Towards strategic stakeholder management? Integrating perspectives on sustainability challenges such as corporate responses to climate change

    International Nuclear Information System (INIS)

    Kolk, A.; Pinkse, J.

    2007-01-01

    The strategic management of corporate sustainability tends to be approached from one theoretical perspective in academic research and publications in mainstream journals simultaneously. In corporate practice, however, a sustainability issue has different dimensions that cannot be captured if only one such lens is taken. The purpose of this article is to develop a more integrated perspective, embedded in a stakeholder view. This paper uses climate change as an example to illustrate how institutional, resource-based, supply chain and stakeholder views are all important to characterize and understand corporate strategic responses to one issue. This is subsequently linked to the climate strategies and related capabilities of companies, reckoning with societal and competitive contexts. Findings - What a corporate climate strategy looks like depends on the type of stakeholders that a company manages more proactively, which is in turn determined by the extent to which these stakeholders control critical resources. While empirical literature usually adopts a particular theoretical perspective, this article has attempted to develop a more integrative approach on corporate responses to climate change

  7. Corporate governance for trillion dollar opportunities

    Directory of Open Access Journals (Sweden)

    Hugh Grove

    2017-12-01

    Full Text Available Boards of Directors will have to play a key role in the technological survival and development of companies by asking corporate executives about their plans and strategies for these emerging technological changes and challenges. Key challenges and opportunities discussed in this paper, with corresponding corporate governance implications, included Big Data, Artificial Intelligence (AI with Industry 4.0, AI with the Internet of Things (IoT, Deep Learning, and Neural Networks. Survival should not be the goal, but it may be the necessary first step for today’s companies. Potential winners seizing these trillion dollar opportunities will be company executives and Boards of Directors who can incorporate these technological changes into specific new business models, strategies, and practices. While the awareness on boards regarding risks originating from disruptive innovation, cyber threats and privacy risks has been increasing, Boards of Directors must equally be able to challenge executives and identify opportunities and threats for their companies. This shift for companies is not only about digital technology but also cultural. How can people be managed when digital, virtual ways of working are increasing? What do robotics and Big Data analysis mean for managing people? One way to accelerate the digital learning process has been advocated: the use of digital apprentices for boards. For example, Board Apprentice, a non-profit organization, has already placed digital apprentices on boards for a year-long period (which helps to educate both apprentices and boards in five different countries. Additional plans and strategies are needed in this age of digitalization and lifelong learning. For example, cybersecurity risks are magnified by all these new technology trends, such as Big Data, AI, Industry 4.0, and IoT. Accordingly, the main findings of this paper are analysing the challenges and opportunities for corporate executives, Boards of Directors

  8. Multinational corporations and infectious disease: Embracing human rights management techniques.

    Science.gov (United States)

    Salcito, Kendyl; Singer, Burton H; Weiss, Mitchell G; Winkler, Mirko S; Krieger, Gary R; Wielga, Mark; Utzinger, Jürg

    2014-01-01

    Global health institutions have called for governments, international organisations and health practitioners to employ a human rights-based approach to infectious diseases. The motivation for a human rights approach is clear: poverty and inequality create conditions for infectious diseases to thrive, and the diseases, in turn, interact with social-ecological systems to promulgate poverty, inequity and indignity. Governments and intergovernmental organisations should be concerned with the control and elimination of these diseases, as widespread infections delay economic growth and contribute to higher healthcare costs and slower processes for realising universal human rights. These social determinants and economic outcomes associated with infectious diseases should interest multinational companies, partly because they have bearing on corporate productivity and, increasingly, because new global norms impose on companies a responsibility to respect human rights, including the right to health. We reviewed historical and recent developments at the interface of infectious diseases, human rights and multinational corporations. Our investigation was supplemented with field-level insights at corporate capital projects that were developed in areas of high endemicity of infectious diseases, which embraced rights-based disease control strategies. Experience and literature provide a longstanding business case and an emerging social responsibility case for corporations to apply a human rights approach to health programmes at global operations. Indeed, in an increasingly globalised and interconnected world, multinational corporations have an interest, and an important role to play, in advancing rights-based control strategies for infectious diseases. There are new opportunities for governments and international health agencies to enlist corporate business actors in disease control and elimination strategies. Guidance offered by the United Nations in 2011 that is widely embraced

  9. Corporate Sustainability Management and Its Market Benefits

    Directory of Open Access Journals (Sweden)

    Joonhyun Kim

    2018-05-01

    Full Text Available An increasing number of firms around the world are applying corporate sustainability management (CSM to their business operations, and the research interest on the effect of CSM in terms of the capital market benefit has grown rapidly under the different research settings across various countries. This study investigates whether CSM contributes to increasing firm value and improving the market response to earnings disclosure, using Korean firms as the sample. The test results show that firms with CSM reporting outperform the other firms in terms of Tobin’s Q and the market-adjusted stock returns over a year. Further, investors respond more strongly to the earnings announcement events of the CSM firms than the non-CSM firms, which is more likely to be attributed to the enhanced corporate disclosure practice of the CSM firms than an improvement in earnings quality. Our findings indicate that the shareholders of firms with CSM reporting can enjoy relatively higher market valuations and enhanced information content of earnings disclosures. In conclusion, the results show that the CSM activities in pursuit of a harmonious relationship with the various stakeholders bring different forms of market benefits to shareholders as well.

  10. Corporate governance and earning management: Evidence from 200 Malaysian listed firms from the period of 2007 to 2011

    Directory of Open Access Journals (Sweden)

    Nazrul Hisyam Ab Razak

    2014-01-01

    Full Text Available This study examines the effectiveness of some corporate governance variables to monitor management behavior with the respect to their incentives to manage earnings. A set of 200 Malaysian listed firms for the year 2007 to 2011 in Bursa Malaysia have been investigated to analyze the relationship between corporate governance and earnings management. The corporate governance variables examined are CEO duality (when the chairman and the CEO is the same person, the proportion of independent non-executive directors and board size. We find discretionary accruals as a proxy for earnings management is negatively related to the board size and ROA, but positively related to the existence of CEO-Chairman duality, size of the firms, and operating cash flow. However, the results do not show a significant association between the proportion of independent non-executive directors on the board and earnings management.

  11. VALUE AT RISK - CORPORATE RISK MEASUREMENT

    Directory of Open Access Journals (Sweden)

    Anis Cecilia-Nicoleta

    2011-12-01

    Full Text Available The notion of 'risk' is used in a number of sciences. The Faculty of Law studies the risk depending on its legality. The Accident Theory applies this term to describe the damage and the disasters. One can find studies on the risks in the works of psychology, philosophy, medicine and within each of these areas the study of the risk is based on the given science subject and, of course, on their methods and approaches. Such a variety of risk study is explained by the diversity of this phenomenon. Under the market economy conditions, the risk is an essential component of any economic agent management policy, of the approach developed by this one, a strategy that depends almost entirely on individual ability and capacity to anticipate his evolution and to exploit his opportunities, assuming a so-called 'risk of business failure.' There are several ways to measure the risks in projects, one of the most used methods to measure this being the Value at Risk(VaR. Value at Risk (VaR was made famous by JP Morgan in the mid 1990s, by introducing the RiskMetrics approach, and hence, by far, has been sanctioned by several Governing Bodies throughout the world bank. In short, it measures the value of risk capital stocks in a given period at a certain probability of loss. This measurement can be modified for risk applications through, for example, the potential loss values affirmation in a certain amount of time during the economic life of the project- clearly, a project with a lower VaR is better. It should be noted that it is not always possible or advisable for a company to limit itself to the remote analysis of each risk because the risks and their effects are interdependent and constitute a system .In addition, there are risks which, in combination with other risks, tend to produce effects which they would not have caused by themselves and risks that tend to offset and even cancel each other out.

  12. Organizational, Business, Management, and Corporate Communication: An Analysis of Boundaries and Relationships.

    Science.gov (United States)

    Shelby, Annette Nevin

    1993-01-01

    Analyzes the boundaries for four communications subject areas that may be taught in business schools: organizational, business, management, and corporate communications. Provides theoretical models for such an analysis of discipline boundaries and their interrelationships. (HB)

  13. CORPORATIONS IN RUSSIAN ECONOMICS OF TODAY

    Directory of Open Access Journals (Sweden)

    S. A. Shirokovskikh

    2011-01-01

    Full Text Available In Russian economics there are purely Russian private corporations as well as mixed state/private owned and transnational corporations. Specific ways of forming corporations in Russia resulted in corporate management models different from those used abroad (exclusive of largest holdingcompanies with considerable participation of the state. Difference in the corporation forms is determined by relations between owners and top managers. Efficient and sustainable (in the western sense functioning of Russian corporations may become effective only after long timeprovided RF ownership right legislation gets simultaneously improved.

  14. Environmental, social, and corporate report 2012 - Cezus Jarrie (Areva)

    International Nuclear Information System (INIS)

    2013-01-01

    CEZUS, an AREVA group subsidiary, is the global leader in the market for nuclear-grade zirconium. Zirconium is a metal used for fuel cladding, among other applications. CEZUS operates at six sites; the Jarrie site in the Isere department of France produces zirconium sponge. This document shows details of the CEZUS Jarrie facility and its 2012 initiatives on: consumption and waste management, risk management, environmental and safety management, social and corporate responsibilities

  15. The corporate security professional

    DEFF Research Database (Denmark)

    Petersen, Karen Lund

    2013-01-01

    In our age of globalization and complex threat environments, every business is called upon to manage security. This tendency is reflected in the fact that a wide range of businesses increasingly think about security in broad terms and strive to translate national security concerns into corporate...... speech. This article argues that the profession of the security manager has become central for understanding how the relationship between national and corporate security is currently negotiated. The national security background of most private sector security managers makes the corporate security...... professional inside the company a powerful hybrid agent. By zooming in on the profession and the practice of national security inside companies, the article raises questions about where to draw the line between corporate security and national security along with the political consequences of the constitution...

  16. Management accounting techniques and corporate performance of manufacturing industries

    Directory of Open Access Journals (Sweden)

    Ardiansyah Rasyid

    2017-03-01

    Full Text Available This research is to investigate that some factors that affect the new adoption in management accounting techniques on the Indonesia manufacturing industries, specifically in Jakarta, Bogor, Depok, Tangerang and Bekasi regions. The research can give a clearer portrait of how some factors can significantly affect the adoption of management accounting techniques. The research used some questioners which were sent to respondents who work in manufacturing industries as a middle level management. The methods used to distribute the questioners to respondents were by door to door, by e-mail and by media telecommunication (what’s app or close relationship up to hundreds questioners. We obtained 45 respondents but we eliminated one respondent, because they are not suitable to the research requirements. The research model contains the two paths. The first path contains 7 variables that divided by six exogenous variables to affect one endogenous variable and the next path model is from the three variables, that are divided to the one mediating variable and the other one exogenous variables to affect one endogenous variable (like path modelling. The research result shows that high competition does not affect the new accounting adoption but the other five variables; cost system changing, technology changes, organization climate, consumer demand and size significantly affect the new accounting adoption. For the next path, the research finds that the new accounting adoption can significantly affect corporate performance and also corporate performance measurement perception.

  17. Changes and risks: How ARCO manages international expansion

    International Nuclear Information System (INIS)

    Bowlin, M.R.; Downey, M.W.

    1992-01-01

    ARCO's return on capital employed for the past 6 years has been an industry-leading 11.1%. However, even ARCO has not been immune to the severe problems of the domestic oil and gas business, and ARCO believes these domestic problems are not likely to disappear quickly. ARCO's response has been twofold: a careful revamping of the domestic exploration and production arm; and thoughtful expansion of ARCO's international efforts. In the late 1980's ARCO's senior management concluded that oil reserves and corporate profit from exploration and production (E and P) could be most successfully increased by a larger presence in international investments. It was recognized that success would not come from merely pouring more money into international E and P but would require structural changes in operations and enhanced risk management

  18. Project Risk Management

    Science.gov (United States)

    Jr., R. F. Miles

    1995-01-01

    Project risk management is primarily concerned with performance, reliability, cost, and schedule. Environmental risk management is primarily concerned with human health and ecological hazards and likelihoods. This paper discusses project risk management and compares it to environmental risk management, both with respect to goals and implementation. The approach of the Jet Propulsion Laboratory to risk management is presented as an example of a project risk management approach that is an extension to NASA NHB 7120.5: Management of Major System Programs and Projects.

  19. Linking Transformational Leadership, Absorptive Capacity, and Corporate Entrepreneurship

    Directory of Open Access Journals (Sweden)

    Imran Shafique

    2018-03-01

    Full Text Available This study aims to analyze the nexus between transformational leadership and corporate entrepreneurship through an integration of dispersed scholarly work on transformational leadership, absorptive capacity, and corporate entrepreneurship under one framework. A survey method was employed for the collection of data from small and medium-sized enterprises (SMEs of Pakistan. The data were analyzed using structural equation modeling (SEM technique to empirically test the hypotheses. The results demonstrate that transformational leadership positively affects corporate entrepreneurship and its dimensions—namely, innovation, new business venturing, self-renewal, proactivity, and risk-taking—both directly and through absorptive capacity. The potential of transformational leadership to influence corporate entrepreneurship via absorptive capacity added additional interesting substitutes. Future studies may produce novel insights by examining different leadership styles, settings, or utilizing qualitative technique. Firms should invest to initiate transformational leadership training programs for their managers. Additionally, if these firms are aiming to promote corporate entrepreneurship, they should focus on hiring managers that have attributes of transformational leadership. Furthermore, they should also invest in absorptive capacity to utilize outside knowledge for the enhancement of entrepreneurial activities. This study exploits research work on the relationship between transformational leadership and corporate entrepreneurship in a novel way; it investigates the dimensions of entrepreneurship individually, as well as unidimensionally, and includes the mediating role of absorptive capacity and tests several other hypotheses that previously have been ignored. This study, compared to the existing research, contributes to the impact of transformational leadership on corporate entrepreneurship and absorptive capacity, especially in Pakistan

  20. Managing Corporate Responsibility Globally and Locally

    DEFF Research Database (Denmark)

    Brown, Dana; Knudsen, Jette Steen

    2012-01-01

    Corporate Responsibility (CR) is today an essential component of corporate global strategy. CR can bolster the institutional context for market expansion fill institutional voids or facilitate market entry as a component of non-market strategy. Yet, in fulfilling these functions, CR may need...... to be highly sensitive to local contexts. How can transnational firms organize CR so as to maximize efficiencies from globalization and to minimize the fragmentation of corporate organizational cultures? provide a framework for analyzing the way that corporations coordinate global and local functions. We build...... on this framework in a case study of Novo Nordisk and its approach to determining global and local CR policies and procedures with regard to its China and US subsidiaries. Our findings suggest that it is important for companies to define a common set of organizational norms. In addition, CR need to be sensitive...

  1. Approaches to Risk Communication from Academic, Corporate and Media Perspectives in Contemporary Society; Aproximaciones a la Comunicacion del Riesgo desde los ambitos Academico, Institucional y Mediatico de la Sociedad Actual

    Energy Technology Data Exchange (ETDEWEB)

    Lopera, E

    2011-07-01

    Risk communication can be tackled from different approaches. After more than half a century of research under the frame of the social science studies, risk communication is used by the organizations as a tool in corporate communication and it also is object of mass media attention considering the alarm and interest that risk issues/events raise on public opinion. The objective of this report is to address risk communication based on these three approaches: academic, corporate and mass media. Overall, risk communication is applied when a crisis takes place. Crisis is any situation which can pose a danger to persons and/or environment and, as a result, sparks off mass media attention. If risk communication is not properly managed, the reputation of the organizations can be seriously damaged, even compromising company feasibility or credibility and trust in authorities where government agencies are concerned. (Author) 41 refs.

  2. Evolution of Corporate Essence

    DEFF Research Database (Denmark)

    Fomcenco, Alex

    2016-01-01

    that applies to a traditional limited liability company. Its main distinctive attributes are corporate purpose, accountability of its management, and transparency requirements. Although, a Public Benefit Corporation does not impose any revolutionary amendments to the way the traditional corporations are......, it offers a legal framework where public benefit is more important than profits. As a corporate entity, Public Benefit Corporation already exists in numerous jurisdictions and those jurisdictions that do not yet facilitate creation of this corporate form should most definitely consider it....

  3. The Effects of Types of Training Evaluation on Support of Training among Corporate Managers.

    Science.gov (United States)

    Kusy, Mitchell E., Jr.

    A study was conducted to determine which type of training evaluation method elicited the most management support of the training function among corporate managers. The investigator designed and distributed a case study survey instrument called the Training Evaluation Methods Survey (TEMS) to assess the extent of management support for each type of…

  4. The strategic skills of business continuity managers: putting business continuity management into corporate long-term planning.

    Science.gov (United States)

    Wong, Wei Ning Zechariah

    2009-11-01

    Despite its rapid development in the last two decades, business continuity management (BCM) as a discipline and a profession is still regarded by many as an operational entity of management. Two main issues are discussed in this paper: the role of BCM in strategic management and the strategic skills of business continuity managers. These issues are crucial as they represent the role of BCM in high-level corporate management. The paper discusses the importance of BCM in the long-term planning of organisational success and the preservation of future competitiveness. Finally, salient points that underpin the importance of its role in sustaining organisational performance are addressed.

  5. Transnational Corporations and Corporate Citizenship: Analyzing New Roles of Organization Development Practitioners

    Science.gov (United States)

    Stolz, Ingo Stephan

    2012-01-01

    Research shows that too few transnational corporations (TNCs) have the organizational capacity to manage corporate citizenship. Evidence exists that ever more TNCs adopt programs of corporate citizenship development in order to increase this capacity. However, both in academic and practical literature, there is a general lack of a strategic…

  6. Corporate Governance at the Nacional Telecommunications Agency (ANATEL as a mechanism to improve the Agency’s Management

    Directory of Open Access Journals (Sweden)

    Fábio de Paula e Souza

    2016-04-01

    Full Text Available In the current scenario facing the country's government crisis of confidence, transparency and relationship with society, corporate governance is an important tool to monitor and improve the management, governance and corporate social responsibility in public organizations. The application of this mechanism in the National Telecommunications Agency (ANATEL has great impact to the economy and technological development of the country, capturing investments in the telecommunications sector, generating confidence to investors and stimulating competition between companies, which can offer products with best quality and services at affordable prices for consumers in Brazil. This paper investigates and analyzes by the theory of regulation, guides and reports, corporate governance as a mechanism to improve the management in ANATEL, using references, legislation and other documents in order to examine the transparency, fairness, accountability (providing accounts and corporate social responsibility in the Agency.

  7. Quality Management Principles in the Management of Shipboard Discharges

    Directory of Open Access Journals (Sweden)

    Vjekoslav Koljatić

    2006-05-01

    Full Text Available Environmental control of vessels is a management functionthat requires applied technology, training and diligentmanagement. Quality Management is a tool for developing environmentalprograms to control corporate environmental exposures.The management of environmental regulations, requirementsand concerns requires a systematic approach. QualityManagement (QM embodies principles of policy delineation,operations accountability, documentation and review.These principles are all transferable to most aspects of shipmanagement. Properly implemented, they assign respective responsibilitiesfor both shore side and shipboard staff Both ISMand IS0-9000 Certification requirements embody the principlesof QM as requirements for certification. If, however, onelooks beyond the certification process, these principles makegood business sense. The benefits of QM are both economic aswell as assisting in corporate risk management. This paper willfocus on the risk management benefits as they apply of environmentalhealth programs in the marine environment includingports.

  8. Environmental, social, and corporate report 2010 - Cezus Ugine (Areva)

    International Nuclear Information System (INIS)

    2011-01-01

    CEZUS, a subsidiary of AREVA, is the global leader in the market for zirconium, the metal used, among other things, for nuclear fuel cladding. CEZUS's operations are distributed over six sites. The site in Ugine handles production of ingots and transformation of zirconium, titanium, tantalum, and hafnium into semi-finished products. This document shows details of the CEZUS Ugine facility and its 2010 initiatives on: consumption and waste management, risk management, environmental and safety management, social and corporate responsibilities

  9. Environmental, social, and corporate report 2012 - Cezus Rugles (Areva)

    International Nuclear Information System (INIS)

    2013-01-01

    CEZUS, a subsidiary of AREVA, is the global leader in the zirconium market, the metal used, among other things, for fuel assembly tube cladding in the heart of nuclear reactors. CEZUS's operations are distributed over six sites: the Rugles site manufactures flat products originated from the pilgering of rectangular billets. This document shows details of the CEZUS Rugles facility and its 2012 initiatives on: consumption and waste management, risk management, environmental and safety management, social and corporate responsibilities

  10. Environmental, social, and corporate report 2012 - Cezus Ugine (Areva)

    International Nuclear Information System (INIS)

    2013-01-01

    CEZUS, a subsidiary of AREVA, is the global leader in the market for zirconium, the metal used, among other things, for nuclear fuel cladding. CEZUS's operations are distributed over six sites. The site in Ugine handles production of ingots and transformation of zirconium, titanium, tantalum, and hafnium into semi-finished products. This document shows details of the CEZUS Ugine facility and its 2012 initiatives on: consumption and waste management, risk management, environmental and safety management, social and corporate responsibilities

  11. Corporate governance in banks: Problems and remedies

    Directory of Open Access Journals (Sweden)

    Monika Marcinkowska

    2012-05-01

    Full Text Available Weak and ineffective corporate governance mechanisms in banks are pointed out as the main factors contributing to the recent financial crisis. Deep changes in this area are necessary to reinforce the financial sector stability. The paper presents key aspects requiring reforms: the role, constitution and accountability of board, risk management, management remuneration, transparency. New regulations and guidance are presented, creating the foundations for a new order of the financial market. The paper also points out the banks’ stakeholders’ accountability.

  12. Investigating the relationship between corporate social responsibility and earnings management: Evidence from Spain

    Directory of Open Access Journals (Sweden)

    Ester Gras-Gil

    2016-10-01

    The results show that corporate social responsibility practices may be an organizational device that leads to more effective use of resources, which then has a negative impact on earnings management practices.

  13. FINANCE CORPORATIONS: THEORETICAL AND METHODOLOGICAL ASPECT

    OpenAIRE

    Vitaly Yu. Zaitsev; Yurii I. Fedchishin

    2015-01-01

    The article deals with the essence of corporate Finance and the principles of their organization. The characteristic of the system of corporate financial management, describes its purpose, objectives and functions. Given the definition of a financial company policy. Review the organizational structure of corporate financial management from the current position.

  14. Teaching Management: A Field Guide for Professors, Consultants, and Corporate Trainers

    Science.gov (United States)

    Clawson, James G. S.; Haskins, Mark E.

    2006-01-01

    How can every management class be a dynamic, unforgettable experience? This much-needed book distills over half a century of the authors' combined experience as university professors, consultants, and advisors to corporate training departments. In a lively, hands-on fashion, it describes the fundamental elements in every learning situation,…

  15. Problems of assessment of efficiency of managing corporate rights in joint stock companies

    Directory of Open Access Journals (Sweden)

    Kurinnyy Oleksandr V.

    2013-03-01

    Full Text Available The goal of the article lies in identification of specific features of formation, implementation and practical use of the balanced scorecard of efficiency of managing corporate rights in domestic joint stock companies. Complexity of formation of the balanced scorecard of efficiency of managing property of shareholders is due to a necessity of ensuring deliberateness of the combination of financial and non-financial indicators for formalisation of managerial goals, establishment of a connection between financial parameters and operation indicators of enterprise activity and also attempt to determine the whole cost of an enterprise, which would be adequate to the market value of its assets. Taking into account the above, the article defines efficiency of managing shares of the joint stock as the degree of correlation between the goal, regulatory set functions, managerial actions and results of execution of managerial duties by managers. Prospect of further studies in this direction is development of methodical basis of formation and functioning of the balanced scorecard of efficiency of the use of shares of corporate rights in a joint stock company.

  16. Institutional innovation in less than ideal conditions: Management of commons by an Alaska Native village corporation

    Directory of Open Access Journals (Sweden)

    Dixie Dayo

    2009-09-01

    Full Text Available Alaska Natives have experienced less than ideal conditions for engaging in management of their homeland commons. During the first 100 years after the Treaty of Cession of 1867, Alaska Natives received limited recognition by the United States. The Alaska Native Claims Settlement Act of 1971 (ANCSA was signed into law by President Richard Nixon after tedious negotiations by Alaska Natives, the United States Congress, and special interest groups. As part of the settlement, 12 regional corporations and over 200 village corporations were established to receive fee title to 40 million acres of land and a cash settlement of $962.5 million for lands lost. This arrangement has been considered by some as an act of social engineering to assimilate Alaska Natives into a capitalist economy. In spite of the goal of assimilation, Alaska Natives have utilized ANCSA to strengthen their indigenous identity and revitalize their cultural traditions. This paper examines the innovative efforts of Alaska Natives to successfully manage their commons despite the introduction of new and foreign institutions. Since the passing of ANSCA, Alaska Natives have cultivated good skills to navigate and modify legal systems and engage bureaucracies with considerable success. More than 36 years after the passage of ANCSA, most Alaska Native homelands remain intact in ways not previously imagined. Village corporations have used a number of legal methods to allocate land to shareholders, manage ownership of stocks, and contribute to the Alaska economy. ANCSA provided no special aboriginal rights for harvesting and management of fish and wildlife. Resultant rural-urban conflicts have been confronted with a novel mix of agency-Native cooperation and litigation. Although aspects of the arrangement are not ideal, the conditions are not hopeless. Our paper explores the hypothesis that while formal institutions matter, informal institutions have considerable potential to generate

  17. Enterprise risk management

    Energy Technology Data Exchange (ETDEWEB)

    Eaton, C. [Enbridge, Calgary, AB (Canada)

    2015-07-01

    Enterprise risk management (ERM) is a relative new, holistic and strategic approach for managing risks in modern organizations. ERM builds on and extends traditional risk management (RM). Risk is the effect of uncertainty on objectives - positive and/or negative. Risk management is a set of practices used to understand and address risk. ERM is a form of RM that emphasizes risk aggregation and integration. Risk aggregation is combining individual risks into categories ({sup r}olled up{sup )}. risk integration is embedding RM into organizational contexts ({sup b}uilt in{sup )}.

  18. FINANCE CORPORATIONS: THEORETICAL AND METHODOLOGICAL ASPECT

    Directory of Open Access Journals (Sweden)

    Vitaly Yu. Zaitsev

    2015-01-01

    Full Text Available The article deals with the essence of corporate Finance and the principles of their organization. The characteristic of the system of corporate financial management, describes its purpose, objectives and functions. Given the definition of a financial company policy. Review the organizational structure of corporate financial management from the current position.

  19. Global Talent Management in Multinational Corporations and the Role of Social Networks

    NARCIS (Netherlands)

    Ruel, Hubertus Johannes Maria; Bondarouk, Tatiana; Dresselhaus, Lena; Olivas-Lujan, M.R.; Bondarouk, T.V.

    2013-01-01

    Purpose — Current global business challenges and circumstances are responsible for the need for global talent management (GTM) within multinational corporations (MNCs). Social media and networks are becoming key channels for global communication and collaboration. For GTM in MNCs, an effective usage

  20. Implementation of corporate social responsibility in the process of strategic management

    OpenAIRE

    Korenyev, Е.

    2013-01-01

    In the article modern approaches to the definition of the place of corporate social responsibility in the system of strategic management of an enterprise are analyzed. The conclusion about the priority role of the integrated approach to formation of business strategy as a tool of realization of the interests of stakeholders is drawn.

  1. Physical security and IT convergence: Managing the cyber-related risks.

    Science.gov (United States)

    McCreight, Tim; Leece, Doug

    The convergence of physical security devices into the corporate network is increasing, due to the perceived economic benefits and efficiencies gained from using one enterprise network. Bringing these two networks together is not without risk. Physical devices like closed circuit television cameras (CCTV), card access readers, and heating, ventilation and air conditioning controllers (HVAC) are typically not secured to the standards we expect for corporate computer networks. These devices can pose significant risks to the corporate network by creating new avenues to exploit vulnerabilities in less-than-secure implementations of physical systems. The ASIS Information Technology Security Council (ITSC) developed a white paper describing steps organisations can take to reduce the risks this convergence can pose, and presented these concepts at the 2015 ASIS/ISC2 Congress in Anaheim, California. 1 This paper expands upon the six characteristics described by ITSC, and provides business continuity planners with information on how to apply these recommendations to physical security devices that use the corporate network.

  2. Proposal to introduce Disaster Risk Management topics in Master programs in ESAN Graduate School of Business

    Directory of Open Access Journals (Sweden)

    CECILIA DEJO ESTEVES

    Full Text Available This paper aims to explain and present a proposal to introduce Disaster Risk Management (DRM topics into ESAN Graduate School of Business Master's programs. Although disasters have cost Peru more than USD 7,600 million in the past 2 decades the business sector, particularly Small and Medium Enterprises, have not developed preventive or continuity plans mainly because they are not familiar with DRM topics. Taking this into consideration, the paper presents a detailed academic/curricular proposal for DRM topics such as business continuity, business ethics, corporate social responsibility, and sustainable management. Additionally, it introduces the idea of promoting Disaster Risk Management (DRM topics to the Peruvian business community as a strategy to enhance the graduate education.

  3. Environmental, social, and corporate report 2012 - Cezus Paimboeuf (Areva)

    International Nuclear Information System (INIS)

    2013-01-01

    CEZUS, a subsidiary of AREVA, is the global leader in the market for zirconium, the metal used, among other things, for fuel cladding in the heart of nuclear reactors. CEZUS's operations are distributed over six sites. The site in Paimboeuf, in the Loire-Atlantique department, fabricates zirconium-alloy cladding tubes and guide tubes. This document shows details of the CEZUS Paimboeuf facility and its 2012 initiatives on: consumption and waste management, risk management, environmental and safety management, social and corporate responsibilities

  4. Total Quality Management and Business Excellence: The Best Practices at Toyota Motor Corporation.

    Directory of Open Access Journals (Sweden)

    Sorin-George Toma

    2017-05-01

    Full Text Available Today’s rough competition at a global level in all spheres of activity imposes companies worldwide to make sustained efforts in order to improve their products, services and processes. The automotive industry has always provided valuable examples of companies that achieved business excellence by putting quality at the core of their production system such as Toyota Motor Corporation. It has continuously designed, implemented and developed the Toyota Production System that influenced the emergence of the business excellence models. The paper aims to highlight the relationship between the concepts of total quality management and business excellence, and to identify and analyze the best practices related to them at Toyota Motor Corporation, a leader of automotive industry. The information obtained through the direct and personal observation method and from multiple secondary sources of data was collected, processed and analyzed in order to achieve the objectives of the paper. The main results show that the best practices of Toyota Motor Corporation related to total quality management and business excellence derive from the Toyota Production System and these practices are to be found in the attributes of business excellence.

  5. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2011-01-01

    Leadership is key to success. Phased-approach for implementation of risk management is necessary. Risk management system will be simple, accessible and promote communication of information to all relevant stakeholders for optimal resource allocation and risk mitigation. Risk management should be used by all team members to manage risks -- risk office personnel. Each group is assigned Risk Integrators who are facilitators for effective risk management. Risks will be managed at the lowest-level feasible, elevate only those risks that require coordination or management from above. Risk reporting and communication is an essential element of risk management and will combine both qualitative and quantitative elements. Risk informed decision making should be introduced to all levels of management. Provide necessary checks and balances to insure that risks are caught/identified and dealt with in a timely manner. Many supporting tools, processes & training must be deployed for effective risk management implementation. Process improvement must be included in the risk processes.

  6. Empirical research on risk taking of listed financial institutions based on the perspective of corporate governance

    Directory of Open Access Journals (Sweden)

    Chen Hao

    2017-03-01

    Full Text Available After the financial crisis in 2008, the risk control of financial institutions has once again become the focus of attention. This paper selects the unbalanced panel data of 44 listed financial institutions in China from 2009 to 2013 for empirical analysis to study the risk taking of China’s listed financial institutions based on the perspective of corporate governance. Then the paper analyzes the effect of corporate governance on the risk taking of listed financial institutions based on the empirical analysis from four aspects. The results indicate that there is a significant negative correlation between the proportion of the largest shareholder’s shareholding and risk taking; a significant positive correlation between the size of the board of supervisors and risk taking; a significant positive correlation between the executive pay and risk taking, and a significant negative correlation between the equity incentive and risk taking. By comparison, the factors related to governance of board of directors have no significant effect on the risk taking of listed financial institutions.

  7. Audit mode change, corporate governance

    Directory of Open Access Journals (Sweden)

    Limei Cao

    2015-12-01

    Full Text Available This study investigates changes in audit strategy in China following the introduction of risk-based auditing standards rather than an internal control-based audit mode. Specifically, we examine whether auditors are implementing the risk-based audit mode to evaluate corporate governance before distributing audit resources. The results show that under the internal control-based audit mode, the relationship between audit effort and corporate governance was weak. However, implementation of the risk-based mode required by the new auditing standards has significantly enhanced the relationship between audit effort and corporate governance. Since the change in audit mode, the Big Ten have demonstrated a significantly better grasp of governance risk and allocated their audit effort accordingly, relative to smaller firms. The empirical evidence indicates that auditors have adjusted their audit strategy to meet the regulations, risk-based auditing is being achieved to a degree, reasonable and effective corporate governance helps to optimize audit resource allocation, and smaller auditing firms in particular should urgently strengthen their risk-based auditing capability. Overall, our findings imply that the mandatory switch to risk-based auditing has optimized audit effort in China.

  8. Health Activism Targeting Corporations: A Critical Health Communication Perspective.

    Science.gov (United States)

    Zoller, Heather M

    2017-02-01

    Health activists and health social movements have transformed medical treatment, promoted public health policies, and extended civil rights for people with illness and disability. This essay explores health activism that targets corporate-generated illness and risk in order to understand the unique communicative challenges involved in this area of contention. Arguing for greater critical engagement with policy, the article integrates policy research with social movements, subpolitics, and issue management literature. Drawing from activist discourse and multidisciplinary research, the article describes how a wide array of groups groups build visibility for corporate health effects, create the potential for networking and collaboration, and politicize health by attributing illness to corporate behaviors. The discussion articulates the implications of this activism for health communication theory, research, and practice.

  9. Sustainability and corporate environmental focus

    DEFF Research Database (Denmark)

    Madsen, Henning; Sinding, Knud; Ulhøi, John Parm

    1997-01-01

    has ranged widely, including different aspects of corporate environmental management, dedicated "green accounting" and "green auditing" and consumer behaviour and "green marketing". Furthermore, this growth has taken place against a background of generally increasing environmental awareness. The paper...... environmental perceptions, driving forces, and corporate responses. The final section discusses the possibility that corporate environmental management, and the many people involved in this area, are less deeply concerned with environmental imperatives than is usually expressed....

  10. Change of risk information disclosure in annual report. Before and after earthquake disaster

    International Nuclear Information System (INIS)

    Ueno, Takefumi

    2011-01-01

    This research examines how risk information disclosure is changing in annual report before and after East Japan Great Earthquake Disaster. Company voluntary disclose risk information in annual report. Manager can decide a style and items of risk information. This paper explores risk information disclosures of Tokyo Electric Power Company, Chubu Power Electric Company, Kansai Electric Power Company and Toyota Motor Corporation. The managers except Tokyo Electric Company are likely to disclose own catastrophe risk before the disaster. However, they do not try to reduce their risk. Corporations' risk information do not link with own risk management. (author)

  11. Corporate marketing: Apocalypse, advent and epiphany

    OpenAIRE

    Balmer, JMT

    2009-01-01

    Purpose - this paper aims to explain the nature and relevance of corporate marketing and details the antecedents of the territory. Corporate marketing is a marketing and management paradigm which synthesises practical and theoretical insights from corporate image and reputation, corporate identity, corporate communications and corporate branding, among other corporate-level constructs. Design/methodology/approach – via the adoption of a quadrivium; a traditional classical, four-part, app...

  12. The Analysis of Working Environment in terms of Diversity Management in Corporate Practice.

    OpenAIRE

    Indruchová, Zuzana

    2014-01-01

    Charles University in Prague Faculty of Arts Department of Adult Education Program: Pedagogy Zuzana Krištofová The Analysis of Working Environment in terms of Diversity Management and its Implementation in Corporate Practice Abstract thesis supervisor: Doc. PaedDr. Ludvík Eger, CSc. 2012 ABSTRACT The present doctoral thesis deals with diversity management and clarifies its concepts. The objectives of the thesis include comprehensive characterisation of diversity management as an element of co...

  13. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2013-01-01

    Phased-approach for implementation of risk management is necessary. Risk management system will be simple, accessible and promote communication of information to all relevant stakeholders for optimal resource allocation and risk mitigation. Risk management should be used by all team members to manage risks - not just risk office personnel. Each group/department is assigned Risk Integrators who are facilitators for effective risk management. Risks will be managed at the lowest-level feasible, elevate only those risks that require coordination or management from above. Risk informed decision making should be introduced to all levels of management. ? Provide necessary checks and balances to insure that risks are caught/identified and dealt with in a timely manner. Many supporting tools, processes & training must be deployed for effective risk management implementation. Process improvement must be included in the risk processes.

  14. Understanding Corporate Culture.

    Science.gov (United States)

    Cluff, Gary A.

    1988-01-01

    Considers concept of corporate culture and discusses several values which can be considered when assessing corporate culture, and the "compatibility scales" used to measure them. Included are discussions of employee attitudes, work atmosphere, internal communications, management style, employment opportunity, stability, business ethics, corporate…

  15. ATTITUDE OF CORPORATE MANAGERS AND STOCKHOLDERS WITH RESPECT TO GOOD GOVERNANCE IN A DEVELOPING COUNTRY: A CASE STUDY OF BANGLADESH

    Directory of Open Access Journals (Sweden)

    Muhammad Z. Mamun

    2005-01-01

    Full Text Available This study showed the perceptional differences between corporate managers1 and stockholders2 regarding good governance. The study is conducted among 25 pairs of senior managers and stockholders from 25 randomly chosen corporations3 in Bangladesh. Different statistical tools like numeric scale, discriminant analysis, descriptive analysis, t-test, F-test were used for the comparative analysis. Regarding good governance, it is found that the corporate managers and stockholders possess opposing view. While managers of the studied firms find governance of their companies is quite well but stockholders view that it is very poor. This happened especially in terms of turnover, production, capital, leverage, debt service, credit policy, solvency, human resource, recruitment, technology, customer satisfaction, internal control, strength, opportunity, competition, industry position, collective bargaining agent (CBA issues and economic remedies which the study found the groups differ in perception; whereas, they have similar view in terms of adequacy of research fund, company weaknesses and threats, contingency plans, presence of political influence. The managers think that the companies do not have enough retained earnings and these should not be distributed among stockholders, but the stockholders think otherwise. Managers always perceive that they are underpaid whereas stockholders express the opposite view. Each group believes that it is the other group that dominates the decision-making. While both the groups want to have mutual interaction but stockholders want to interact more than the mangers. No doubt this attitudinal differences are not good for smooth functioning of the corporations, what is needed is openness, more dialogues, mutual trust and understanding of each other. The study also noted that corporate managers' tenure is more with the company than a stockholder's holding of stock. It is also found that the managers are better educated than

  16. A Story of Law and Incentives: A Comparative Legal Understanding of Corporate Risk and Incentives in Relation to Human Rights Liability

    OpenAIRE

    Kaeb, Caroline

    2012-01-01

    This work examines the concept of Corporate Social Responsibility (CSR), particularly corporate human rights responsibility, by telling a “story of law and incentives” in way that fosters a comparative legal understanding of corporate risks and motivational drivers. The 2008 financial crisis has shown that trustworthiness on the part of corporations is indispensable for the sustainable well-being of society and corporate success alike. This reality mandates assessing the current legal and eco...

  17. The clinic as a good corporate neighbor.

    Science.gov (United States)

    Sass, Hans-Martin

    2013-02-01

    Clinics today specialize in health repair services similar to car repair shops; procedures and prices are standardized, regulated, and inflexibly uniform. Clinics of the future have to become Health Care Centers in order to be more respected and more effective corporate neighbors in offering outreach services in health education and preventive health care. The traditional concept of care for health is much broader than repair management and includes the promotion of lay health competence and responsibility in healthy social and natural environments. The corporate profile and ethics of the clinic as a good and competitive local neighbor will have to focus on [a] better personalized care, [b] education and services in preventive care, [c] direct or web-based information and advice for general, seasonal, or age related health risks, and on developing and improving trustworthy character traits of the clinic as a corporate person and a good neighbor.

  18. The struggle for strategic alignment in multinational corporations: Managing readjustment during global expansion

    NARCIS (Netherlands)

    Rondinelli, Dennis; Rosen, Benson; Drori, Israel

    2001-01-01

    As corporations expand internationally, their ability to align their internal business strategies and management practices to conditions in external marketplaces becomes critical for sustaining growth and expanding market share. When international expansion decisions become 'unaligned' with business

  19. GLObal RIsk MANagement system for plant operations GLORIMAN

    International Nuclear Information System (INIS)

    Silverman, Eugene B.

    2004-01-01

    Considerable effort has been expended by nuclear power plants in the preparation of their Independent Plant Evaluation (IPE) programs. The result of these projects is the generation of very useful information concerning plant operations, states, availability and risk. The potential application of this information is often unrealized due to the unwieldy form of the data as reported in the IPE. Plant personnel would benefit greatly from quick access to risk information as a means of supporting day-to-day decisions, but the information exists only in a difficult to understand and inaccessible form. There is a need to translate the costs invested in Probabilistic Risk Assessment (PRA) projects into a useable tool for plant personnel. This paper describes a software tool developed by ARD Corporation to be used by plants to assist in determining the operational risks and benefits associated with modifying the plant state during normal and off-normal operations for performing maintenance. This tool integrates a relational database with an easy-to-use graphical user interface and several unique software features. The result is a responsive, easy-to-understand tool that integrates an organization's PRA/IPE into the operational and maintenance needs of the station. The Global Risk Management System is designed to allow the user to evaluate the risk associated with current and proposed plant states. The impact of changes in plant configuration, operational modes and equipment availability are assessed from a risk management perspective, but displayed in an easy-to-understand form for personnel not familiar with risk methodology. Additionally, pipe and instrumentation drawings can be retrieved by the user and displayed as a reference tool. (author)

  20. Planning and managing a corporate event : case: Event Activation Galaxy Studio Samsung S7/ S7 Edge

    OpenAIRE

    Bui, Quyen; Tran, Fa

    2017-01-01

    The thesis was written about the case: Event Activation Studio Galaxy Samsung S7/S7 Edge. Samsung is a global leading conglomerate company in the technology industry. This thesis discusses how to plan and manage an Event Activation for Samsung. The primary objective of this thesis was to provide a step-by-step guideline for planning and managing a corporate event. This objective was achieved by performing the following tasks: clarifying the influential role of corporate events in marketi...

  1. [Global risk management].

    Science.gov (United States)

    Sghaier, W; Hergon, E; Desroches, A

    2015-08-01

    Risk management is a fundamental component of any successful company, whether it is in economic, societal or environmental aspect. Risk management is an especially important activity for companies that optimal security challenge of products and services is great. This is the case especially for the health sector institutions. Risk management is therefore a decision support tool and a means to ensure the sustainability of an organization. In this context, what methods and approaches implemented to manage the risks? Through this state of the art, we are interested in the concept of risk and risk management processes. Then we focus on the different methods of risk management and the criteria for choosing among these methods. Finally we highlight the need to supplement these methods by a systemic and global approach including through risk assessment by the audits. Copyright © 2015 Elsevier Masson SAS. All rights reserved.

  2. The Conceptual Review of Interaction between Corporate Wisdom and Corporate Entrepreneurship

    Directory of Open Access Journals (Sweden)

    Metehan ORTKARPUZ

    2017-12-01

    Full Text Available Wisdom is an important point of view in the literature as the highest desired attainment of knowledge management and a new goal. Wisdom is a mysterious concept existing at the top of the hierarchy of data, information, and knowledge that occurs by the evolving of knowledge with experience and thought. This concept constitutes institutional wisdom when dealt with on an institutional basis. Today's competition conditions move corporate wisdom understanding on the agenda due to the insufficiency of traditional knowledge management approach towards sustainable targets and keeping the business vulnerable to rapidly changing conditions. Entrepreneurship is one of the most popular phenomena influenced by the developments in knowledge management. Entrepreneurship necessitates the creation of value by seeing opportunities, reaching different information before others, and using it differently from others, thereby becoming a member of the information society. Entrepreneurship processes aiming to create value through transformation and innovation studies in an existing organization are called "corporate entrepreneurship". Corporate entrepreneurship is a capability that enables businesses to gain competitive advantage through conscious efforts which actuate internal and external initiatives against changing conditions and uncertainties. It is thought that the factors of corporate wisdom understanding are interacting with elements of corporate entrepreneurship. In this study, a conceptual review is carried out in order to reveal the mentioned interaction, to take all dimensions of the elements which the concepts are based on.

  3. Possibilities of Utilizing the Method of Analytical Hierarchy Process Within the Strategy of Corporate Social Business

    Science.gov (United States)

    Drieniková, Katarína; Hrdinová, Gabriela; Naňo, Tomáš; Sakál, Peter

    2010-01-01

    The paper deals with the analysis of the theory of corporate social responsibility, risk management and the exact method of analytic hierarchic process that is used in the decision-making processes. The Chapters 2 and 3 focus on presentation of the experience with the application of the method in formulating the stakeholders' strategic goals within the Corporate Social Responsibility (CSR) and simultaneously its utilization in minimizing the environmental risks. The major benefit of this paper is the application of Analytical Hierarchy Process (AHP).

  4. Corporate Language Policies

    DEFF Research Database (Denmark)

    Sanden, Guro Refsum

    This paper offers a review of literature dealing with language policies in general and corporate language policies in particular. Based on a discussion of various definitions of these concepts within two research traditions, i.e. sociolinguistics and international management, a three......-level definition of corporate language policies is presented, emphasising that a corporate language policy is a context-specific policy about language use. The three-level definition is based on the argument that in order to acquire a complete understanding of what corporate language policies involve, one needs...... to consider three progressive questions; 1) what is a policy? 2) what is a language policy?, and ultimately, 3) what is a corporate language policy?...

  5. Corporate Language Policies

    DEFF Research Database (Denmark)

    Sanden, Guro Refsum

    2015-01-01

    This paper offers a review of literature dealing with language policies in general and corporate language policies in particular. Based on a discussion of various definitions of these concepts within two research traditions, i.e. sociolinguistics and international management, a three......-level definition of corporate language policies is presented, emphasising that a corporate language policy is a context-specific policy about language use. The three-level definition is based on the argument that in order to acquire a complete understanding of what corporate language policies involve, one needs...... to consider three progressive questions; 1) what is a policy? 2) what is a language policy?, and ultimately, 3) what is a corporate language policy?...

  6. NGNP Risk Management Database: A Model for Managing Risk

    International Nuclear Information System (INIS)

    Collins, John

    2009-01-01

    To facilitate the implementation of the Risk Management Plan, the Next Generation Nuclear Plant (NGNP) Project has developed and employed an analytical software tool called the NGNP Risk Management System (RMS). A relational database developed in Microsoft(reg s ign) Access, the RMS provides conventional database utility including data maintenance, archiving, configuration control, and query ability. Additionally, the tool's design provides a number of unique capabilities specifically designed to facilitate the development and execution of activities outlined in the Risk Management Plan. Specifically, the RMS provides the capability to establish the risk baseline, document and analyze the risk reduction plan, track the current risk reduction status, organize risks by reference configuration system, subsystem, and component (SSC) and Area, and increase the level of NGNP decision making.

  7. NGNP Risk Management Database: A Model for Managing Risk

    Energy Technology Data Exchange (ETDEWEB)

    John Collins

    2009-09-01

    To facilitate the implementation of the Risk Management Plan, the Next Generation Nuclear Plant (NGNP) Project has developed and employed an analytical software tool called the NGNP Risk Management System (RMS). A relational database developed in Microsoft® Access, the RMS provides conventional database utility including data maintenance, archiving, configuration control, and query ability. Additionally, the tool’s design provides a number of unique capabilities specifically designed to facilitate the development and execution of activities outlined in the Risk Management Plan. Specifically, the RMS provides the capability to establish the risk baseline, document and analyze the risk reduction plan, track the current risk reduction status, organize risks by reference configuration system, subsystem, and component (SSC) and Area, and increase the level of NGNP decision making.

  8. Religion and stock price crash risk: Evidence

    Directory of Open Access Journals (Sweden)

    Wenfei Li

    2016-09-01

    Full Text Available This paper investigates whether religious traditions influence firm-specific crash risk in China. Using a sample of A-share listed firms from 2003 to 2013, we provide evidence that the more intense the religious environment, the lower the stock price crash risk, implying that religion plays an important role in Chinese corporate governance. Further, we find that (1 religion affects stock price crash risk by reducing earnings management and the management perk problem; (2 different religions have different effects, and Taoism, in particular, is unrelated to crash risk; and (3 the effects of religion are more pronounced with higher quality corporate governance and a stronger legal environment. Religion constrains the management agency problem, thus reducing stock price crash risk in China. Our paper enriches the literature on stock price crash risk and religion, and on new economic geography.

  9. Developing Managerial Talent: Exploring the Link between Management Talent and Perceived Performance in Multinational Corporations (MNCs)

    Science.gov (United States)

    Sheehan, Maura

    2012-01-01

    Purpose: To examine the association between talent management (TM) and perceived subsidiary performance. Focus is given to the development of one key talent group--line managers--in subsidiaries of multinational corporations (MNCs). Specifically, the paper examines: whether there is a positive relationship between Management Development (MD) and…

  10. Corporate Media Governance

    NARCIS (Netherlands)

    Kempen, Petrus Cornelis

    2011-01-01

    The media can make or break a reputation. This being said, it seems to be essential for companies, governments and institutions to pay specific attention to corporate media management in their daily operations. However, this thesis shows that they often neglect to pay adequate attention to corporate

  11. The management object in risk management approaches

    OpenAIRE

    Christiansen, Ulrik

    2013-01-01

    Using a systematic review of the last 55 years of research within risk management this paper explores how risk management as a management technology (methodologies, tools and frameworks to mitigate or manage risks) singles out risks as an object for management in order to make action possible. The paper synthesise by developing a framework of how different views on risk management enable and constrain the knowledge about risk and thus frame the possibilities to measure, analyse an...

  12. The Management Object in Risk Management Approaches

    DEFF Research Database (Denmark)

    Christiansen, Ulrik

    Using a systematic review of the last 55 years of research within risk management this paper explores how risk management as a management technology (methodologies, tools and frameworks to mitigate or manage risks) singles out risks as an object for management in order to make action possible....... The paper synthesise by developing a framework of how different views on risk management enable and constrain the knowledge about risk and thus frame the possibilities to measure, analyse and calculate uncertainty and risk. Inspired by social studies of finance and accounting, the paper finally develops...... three propositions that illustrate how the framing of risk establishes a boundary for how managers might understand value creation and the possible future and how this impacts the possible responses to risk....

  13. Public and private partnership in disaster risk management

    Directory of Open Access Journals (Sweden)

    Marino L. Eyerkaufer

    2016-09-01

    Full Text Available Private and public partnerships are defended by both guidelines for action and legal frameworks for disaster risk management. The objective of this study is to identify a framework for action that allows joint collaborative partnership between these sectors. The theoretical discussion brings concepts that raise questions that permeate the possibility of partnership based on the new Sendai framework, as well as corporate social responsibility in the value, balance and accountability (VBA integrative model. The presented framework is compared to the experience of the tornado which occurred in Brazil in the city of Xanxerê (Santa Catarina in 2015. We came to the conclusion that partnership advance results from paradigm shifts in both sectors, on the one hand, with the development of management mechanisms that clearly define roles and responsibilities of those involved, and, on the other hand, motivation for responsible business conduct.

  14. CORPORATE GOVERNANCE IN DEVELOPING ECONOMIES: CASE STUDY OF A ROMANIAN TEXTILE COMPANY

    Directory of Open Access Journals (Sweden)

    POP Zenovia Cristiana

    2015-05-01

    Full Text Available This article explores corporate governance issues like ownership structure, gender diversity accountability, risk management and internal audit at managerial level of a textile company listed on the Bucharest stock exchange. For this reason, secondary data was used as information collection tool. Results of the study underline the conclusion that, corporate governance is being implemented in companies belonging to the textile industry of Romania although correlated with some weaknesses. Analyzed documents confirm that the chosen textile company is trying to implement various accepted corporate governance policies, to stay competitive. The manufacturing processes were constantly improved involving a variety of techniques, with the purpose for diminishing environmental negative impact by eliminating waste. The board of directors as well as the top-management has a good understanding of the responsibilities for each member in order to ensure good corporate governance. The lack of a trade union could be the causative factor of wage inequality and loss of a stronger worker voice. Although the result of external constraints, we identified a process for constant enhancement of corporate governance in the company. The implementation of the code of corporate governance contributed to improvement in performance especially share value. Future research directions aimed extending the sample by selecting several other companies from different industries, for comparison.

  15. The Influence of Competency Level and Maturity in Project Management in the Corporate Income of an Company of the Transformation Sector

    Directory of Open Access Journals (Sweden)

    Gislaine Cristina dos Santos Teixeira

    2016-04-01

    Full Text Available The knowledge and project management practices contribute to the strategic execution and the maturity of these methodologies increases significantly the probability of success project. Even though, corporations, which instilled this methodology on their strategies, have tabled a number of projects showing less than satisfactory outcomes, due to set of factors linked to management and to corporate strategy implanted. This article aims to analyze the influence of competence and maturity in project management of matrix teams and managers in the results of projects and therefore on the corporate results. The research is qualitative, based on the method of single case study. The main results indicate the existence of a strong influence between skills and maturity in project management in operating performance and results of the organization.

  16. IT APPLICATIONS PORTFOLIO MANAGEMENT UNDER BUSINESS AND IMPLEMENTATION UNCERTAINTY

    Institute of Scientific and Technical Information of China (English)

    Masafumi KOTANI; Junichi IIJIMA

    2008-01-01

    Corporations need to improve business processes in order to enhance velocity and service levels while reducing their processing costs and differentiating themselves in the face of competition.The levitation of importance beyond support roles has raised IT investment decisions to high priority in chief executive officers'agendas.Corporate planning groups as well as lines of business are increasingly applying techniques of IT applications portfolio management in a more systematic fashion to improve decision-making and resource-allocation processes. Recent advances in software engineering and IT service delivery methodologies have achieved the logical separation of business functions from implementation.This separation has made a new breed of innovative IT project possible with a new project risk structure;the adjustment of portfolio management techniques is appropriate.We present an integrated portfolio management model so that the corporation can focus on organic growth through sources at both the department and top management levels.The research gives clear advice as to how top management can seek economic growth by selecting an entrepreneurial strategic posture,implying a strong risk-taking propensity.By integrating a risk-return model and risk-tolerance paradigm to cope with today's risk structure,overall capabilities can improve the decision process and the corporation's performance as well.The application of the integrated technique to a Japanese manufacturing firm is described.

  17. Arctic Risk Management (ARMNet) Network: Linking Risk Management Practitioners and Researchers Across the Arctic Regions of Canada and Alaska To Improve Risk, Emergency and Disaster Preparedness and Mitigation Through Comparative Analysis and Applied Research

    Science.gov (United States)

    Garland, A.

    2015-12-01

    The Arctic Risk Management Network (ARMNet) was conceived as a trans-disciplinary hub to encourage and facilitate greater cooperation, communication and exchange among American and Canadian academics and practitioners actively engaged in the research, management and mitigation of risks, emergencies and disasters in the Arctic regions. Its aim is to assist regional decision-makers through the sharing of applied research and best practices and to support greater inter-operability and bilateral collaboration through improved networking, joint exercises, workshops, teleconferences, radio programs, and virtual communications (eg. webinars). Most importantly, ARMNet is a clearinghouse for all information related to the management of the frequent hazards of Arctic climate and geography in North America, including new and emerging challenges arising from climate change, increased maritime polar traffic and expanding economic development in the region. ARMNet is an outcome of the Arctic Observing Network (AON) for Long Term Observations, Governance, and Management Discussions, www.arcus.org/search-program. The AON goals continue with CRIOS (www.ariesnonprofit.com/ARIESprojects.php) and coastal erosion research (www.ariesnonprofit.com/webinarCoastalErosion.php) led by the North Slope Borough Risk Management Office with assistance from ARIES (Applied Research in Environmental Sciences Nonprofit, Inc.). The constituency for ARMNet will include all northern academics and researchers, Arctic-based corporations, First Responders (FRs), Emergency Management Offices (EMOs) and Risk Management Offices (RMOs), military, Coast Guard, northern police forces, Search and Rescue (SAR) associations, boroughs, territories and communities throughout the Arctic. This presentation will be of interest to all those engaged in Arctic affairs, describe the genesis of ARMNet and present the results of stakeholder meetings and webinars designed to guide the next stages of the Project.

  18. Enhancing the concept of corporate diplomacy : encompassing political corporate social responsibility, international relations, and peace through commerce

    NARCIS (Netherlands)

    Westermann-Behaylo, M.K.; Rehbein, K.; Fort, T.

    2015-01-01

    Corporate diplomacy is an emerging concept within the management literature. It describes corporate conduct in the international arena, particularly in challenging political and social environments. Management scholarship and practitioner literature have focused on the communication processes and

  19. Agile risk management

    CERN Document Server

    Moran, Alan

    2014-01-01

    This work is the definitive guide for IT managers and agile practitioners. It elucidates the principles of agile risk management and how these relate to individual projects. Explained in clear and concise terms, this synthesis of project risk management and agile techniques is illustrated using the major methodologies such as XP, Scrum and DSDM.Although the agile community frequently cites risk management, research suggests that risk is often narrowly defined and, at best, implicitly treated, which in turn leads to an inability to make informed decisions concerning risk and reward and a poor u

  20. Credit Monitoring – a Core of Credit Risk Management: Theory and Experience

    Directory of Open Access Journals (Sweden)

    Daiva Jurevičienė

    2013-11-01

    Full Text Available Purpose of the article: Purpose of the article is to identify credit monitoring as a keystone of credit risk management in banks. CRM is widely discussed in scientific literature and in reports of institutions undertaking credit risk or supervisory bodies. However majority of such investigations are based on implementation of numerous quantitative or qualitative methods used for credit risk assessment before granting a loan or for credit portfolio risk management. There is a lack of information or investigations made on estimation of the need of credit monitoring in credit risk management process. Scientific aim: Scientific aim is to structure the early warning signs that reflect the condition of credits. Methodology/methods: The paper is based on analysis and resumption of various scientific and professional articles related to organization of credit process in banks. It combines results of assessments of credit monitoring importance in credit risk management process made by theoretical studies as well as investigation of experts. Findings: Finding of the article is presentation of credit monitoring tools that should be applied for corporate (and individual clients via modification of original credit agreement. Conclusions: (limits, implications etc Conclusion of the article is that credit monitoring is a keystone in credit risk management process. The purpose of credit monitoring is to detect in time possible worsening of the loan and to react (make changes in loan agreement. The simplest tool for credit monitoring is to identify early warning signs in time that could be assorted into four groups: EWS of business environment; EWS with regard to management, EWS regarding collateral, EWS in financial analysis. Limitation of investigation is impossibility of evaluation of importance of monitoring process in practice except investigation of experts (employees directly responsible for credit business.

  1. The Success and Failure of Social Risk Management Systems

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    stakeholders, not directly related to the business, who can raise issues that can have a significant impact on operations. Potentially threatening the MNCs ability to maintain its social license to operate and thereby initiating a stop of mining operation at a significant cost to the company. This paper...... is based on the case example of Teghout coppermolybdenum mine in North-Eastern Armenia, supplemented with evidence from other mining MNCs in the country, using interviews with key stakeholders, onsite fieldwork and public available information. It is found that MNCs in Armenia adopt a standards based...... social risk management strategy and that this strategy is based on the adoption of an international Corporate Social Responsibility (CSR) standard promoted by the World Bank. However, the fieldwork reveal that local and regional stakeholders, from whom social risk rise, feel disengaged from the process...

  2. Strategies in disability management. Corporate disability management programs implemented at the work site.

    Science.gov (United States)

    Kalina, C M

    1999-10-30

    Managers are challenged to demonstrate all programs as economically essential to the business, generating an appreciable return on investment. Further challenge exists to blend and integrate clinical and business objectives in program development. Disability management programs must be viewed as economically essential to the financial success of the business to assure management support for clinical interventions and return-to-work strategies essential for a successful program. This paper discusses a disability management program integrating clinical and business goals and objectives in return-to-work strategies to effect positive clinical, social-cultural, and business results. Clinical, educational, social, and economic challenges in the development, implementation, and continued management of a disability program at a large corporation with multiple global work sites are defined. Continued discussion addresses the effective clinical interventions and educational strategies utilized successfully within the workplace environment in response to each defined challenge. A multiple disciplinary team approach, clinical and business outcome measures, and quality assurance indicators are discussed as major program components. This article discusses a successful program approach focusing on business process and methodology. These parameters are used to link resources to strategy, developing a product for implementing and managing a program demonstrating economic value added through effective clinical medical case management.

  3. Corporate Climate Strategies

    DEFF Research Database (Denmark)

    Bjarnø, Ole-Christian; Maltha, Jonas

    2003-01-01

    at establishing operational guidelines for energy-intensive industries to navigate and gain competitive advantages in a diverse and risky business environment. Based on a literature study of strategic environmental management and carbon management, this article aims to establish such guidelines for corporate......Since the 1997 Kyoto Protocol on Climate Change outlined the first embryonic plans for an emissions market, a significant uncertainty about the value on carbon, in concert with a swift development in energy business, has brought about the concept of carbon management. Carbon management aims...... strategic carbon management for medium to large companies with greenhouse gas intensive activities. The guideline framework is established on the basis of a generic strategy structure in which the factors influencing corporate climate strategies are identified. It is concluded that there is little rationale...

  4. The Process of Risk Management for a Project to Extract Shale Gas

    Energy Technology Data Exchange (ETDEWEB)

    Hurtado, A.; Eguilior, S.; Recreo, F.

    2014-07-01

    There is no human activity without risk. Accordingly, so neither is the extraction of shale gas. In fact this technology has a risk level similar to any other type of industrial activity and particularly those related to oil and gas industry. It is important to highlight the need to properly address these risks, among other reasons, for its influence on public acceptance of this technology, a key element for the commercial scale implementation. At present, risk management is a generally accepted tool for decision making and control of the risks that come from a wide variety of both industrial and not industrial human activities. It is an important element for the implementation of a large number of safety regulations, corporate policies and good industry practice . Thus, for example, chemical and petroleum, nuclear industries, aviation and aerospace or waste management make use of risk management as a central tool to identification the risks, to establish the importance and ranking of the estimated risks, to estimate the cost/benefit ratio in reducing these risks, and to carry out political and institutional processes to manage them. Risk management provides a broad framework to aid decision-making through the identification, analysis, and evaluation and control of risks, including, of course, those for health and safety. A key aspect is the need to ensure the identification of all significant risks, from which it may take appropriate measures (risk analysis). An unidentified risk allows or evaluation or its monitoring, reduction, acceptance or cancellation. After the analysis stage it may be considered for assessment, that is, the risk quantification, to classify them (acceptable, unacceptable, etc. risk). These actions are determined based on a balance between risk control strategies, their effectiveness and cost, and the needs, problems and concerns of those who may be affected, or stake holders, an essential element in the strategic planning of any activity or

  5. The Process of Risk Management for a Project to Extract Shale Gas

    International Nuclear Information System (INIS)

    Hurtado, A.; Eguilior, S.; Recreo, F.

    2014-01-01

    There is no human activity without risk. Accordingly, so neither is the extraction of shale gas. In fact this technology has a risk level similar to any other type of industrial activity and particularly those related to oil and gas industry. It is important to highlight the need to properly address these risks, among other reasons, for its influence on public acceptance of this technology, a key element for the commercial scale implementation. At present, risk management is a generally accepted tool for decision making and control of the risks that come from a wide variety of both industrial and not industrial human activities. It is an important element for the implementation of a large number of safety regulations, corporate policies and good industry practice . Thus, for example, chemical and petroleum, nuclear industries, aviation and aerospace or waste management make use of risk management as a central tool to identification the risks, to establish the importance and ranking of the estimated risks, to estimate the cost/benefit ratio in reducing these risks, and to carry out political and institutional processes to manage them. Risk management provides a broad framework to aid decision-making through the identification, analysis, and evaluation and control of risks, including, of course, those for health and safety. A key aspect is the need to ensure the identification of all significant risks, from which it may take appropriate measures (risk analysis). An unidentified risk allows or evaluation or its monitoring, reduction, acceptance or cancellation. After the analysis stage it may be considered for assessment, that is, the risk quantification, to classify them (acceptable, unacceptable, etc. risk). These actions are determined based on a balance between risk control strategies, their effectiveness and cost, and the needs, problems and concerns of those who may be affected, or stake holders, an essential element in the strategic planning of any activity or

  6. CORPORATE GOVERNANCE IN MALAYSIA: THE EFFECT OF CORPORATE REFORMS AND STATE BUSINESS RELATION IN MALAYSIA

    OpenAIRE

    Nor Azizah Zainal Abidin; Halimah @ Nasibah Ahmad

    2007-01-01

    The Asian Financial Crisis in 1997 not only introduced the term of corporate governance but also drew attention of the public about the weaknesses of Malaysian corporate governance practice. After 1998, Malaysian government decided to adopt corporate reform that could enhance the quality of good corporate management practice. Thisreform is clearly stated in the code and rules of corporate governance. The purpose of this research is to study the significance of implementing the code and rules ...

  7. Comparison of different methods of credit risk management of the commercial bank to accelerate lending activities for SME segment

    OpenAIRE

    Cipovová, Eva; Dlasková, Gabriela

    2016-01-01

    The contribution is dealing with selected assessments of the most important risk in the banking sector in the Czech Republic. The aim of this article was to quantify capital requirement for individual methodologies of credit risk management on the designed portfolio with corporate loans with use of collateral using collaterals as techniques to reduce credit risk of commercial bank. Firstly, the aim of this article is to quantify the capital requirements using the Internal Rating Based Approac...

  8. Corporate sustainability, social responsibility and environmental management : an introduction to theory and practice with case studies

    OpenAIRE

    Camilleri, Mark Anthony

    2017-01-01

    Responsible behaviours are increasingly being embedded into new business models and strategies that are designed to meet environmental, societal and governance deficits. Therefore, the notions of Corporate Sustainability, Social Responsibility and Environmental Management have become very popular among academia as corporations are moving beyond transparency, business ethics and stakeholder engagement. This book provides business students and scholars with a broad analysis on the subject ...

  9. Corporate Narrations. An Instrument of Strategic Brand Management

    Directory of Open Access Journals (Sweden)

    Adela Rogojinaru

    2011-08-01

    Full Text Available Using textual analysis as a method, our aim is to connect the disciplines of brand management to brand communication via text-based approaches. It has been part of the academic tradition to treat all textual perspectives within the exclusive domain of literary studies. We nevertheless consider that an interdisciplinary recovery of classic text-based methods is fertile in advancing our research methods in branding, especially for teaching purposes at master and doctoral level of the communication disciplines. The methodology is based on the analysis of the use of storytelling in four corporate books on four well-known brands: Coca-Cola, Pepsi, Avon, and Disney.

  10. Management Culture as Part of Organizational Culture in the Context of Corporate Social Responsibility Implementation

    Directory of Open Access Journals (Sweden)

    Jolita Vveinhardt

    2017-10-01

    Full Text Available The article is theoretically based on management culture as part of the formal organizational culture, separately reviewing some of its elements. Expert evaluation organization, process and results of the instrument shaped by the authors and meant for qualitative research are briefly presented. The structure of the instrument is detailed by presenting its component parts and explanations. The research was carried out by interviewing the top managers of two big manufacturing company groups consisting of six enterprises. The article presents passages of an interview with the top managers of the six companies, revealing management culture as part of the formal organizational culture expression aiming to implement corporate social responsibility. It should be emphasized that the companies of both groups are preparing to become socially responsible and this results in the timeliness and importance of the research. Structured interviewing method was applied for the research, and the substantive content of the interview included strategy, organizational structure, rules and regulations, technologies, processes, information systems, control and incentive issues. The results of the research show that in both groups of the manufacturing companies management culture and corporate social responsibility, analysing them in terms of formal organizational culture, are perceived in very narrow aspects and their development is not part of the organizations’ strategic goals. The results of the study suggest that the ideas of corporate social responsibility cannot be implemented in a consistent way unless they are integrated into the formal part of organisational culture which plays an instrumental role.

  11. Fundamentals of risk management understanding, evaluating and implementing effective risk management

    CERN Document Server

    Hopkin, Paul

    2012-01-01

    Now more than ever, organizations must plan, response and recognize all forms of risks that they face. "Fundamentals of Risk Management", now in its second edition, provides a comprehensive introduction to the subject of commercial and business risk for anyone studying for a career in risk as well as a broad range of risk professionals. It examines the key components of risk management and its application with examples to demonstrate its benefit to organisations in the public and private sector. The second edition has been completely updated to take into account the greater influence of ISO 3100, the emergence of Governance Risk and Compliance (GRC) and the wide use of the bowtie method to illustrate risk management. In addition, there is now a chapter on the skills and competencies required by an effective risk manager.

  12. Rethinking risk management

    International Nuclear Information System (INIS)

    Kloman, H.F.

    1992-01-01

    The purpose of this paper is to bring together the ideas of those who currently practice the many different forms of risk management on a global basis. These forms include guidance of public policy on macro risks, risk financing and insurance for many larger commercial organizations, managing credit, currency and interest rate risks for financial institutions, plus other extensions of risk management including security, quality control, and quality assurance in a health-care environment

  13. Aligning corporate real estate with the corporate strategies of higher education institutions

    NARCIS (Netherlands)

    Beckers, R; van der Voordt, Theo; Dewulf, G

    2015-01-01

    Purpose
    The purpose of this paper is to explore how corporate real estate (CRE) managers of higher education institutions formulate their CRE strategies and CRE operating decisions to align CRE with the corporate strategies of these institutions.

    Design/methodology/approach
    An

  14. Aligning corporate real estate with the corporate strategies of higher education institutions

    NARCIS (Netherlands)

    Theo van der Voordt; Geert Dewulf; Ronald Beckers

    2015-01-01

    Purpose – The purpose of this paper is to explore how corporate real estate (CRE) managers of higher education institutions formulate their CRE strategies and CRE operating decisions to align CRE with the corporate strategies of these institutions. Design/methodology/approach – An analytical

  15. Knowledge management in support of enterprise risk management

    OpenAIRE

    Rodriguez, Eduardo; Edwards, John S.

    2014-01-01

    Risk management and knowledge management have so far been studied almost independently. The evolution of risk management to the holistic view of Enterprise Risk Management requires the destruction of barriers between organizational silos and the exchange and application of knowledge from different risk management areas. However, knowledge management has received little or no attention in risk management. This paper examines possible relationships between knowledge management constructs relate...

  16. Not invented here : managing corporate innovation in a new era

    OpenAIRE

    Vrande, van de, V.J.A.

    2007-01-01

    Not Invented here: Managing Corporate Innovation in a New Era External technology sourcing as a means to develop new businesses is taking a more central role in established companies. Acquiring new technologies from outside the firm which speeds up the innovation process and complements internal R&D is an important aspect of new business development within the paradigm of open innovation. It is becoming a requirement to create and sustain competitive advantage in different product markets, an...

  17. Corporate Governance as a Crucial Factor in Achieving Sustainable Corporate Performance

    Directory of Open Access Journals (Sweden)

    Julija Bistrova

    2014-06-01

    Full Text Available In the developed stock markets the corporate governance aspect is crucial in the stock portfolio selection process for investor seeking to achieve shareholder value sustainability. In the emerging markets the importance of the corporate governance role just starts to be realized by the investors and by the corporate managers. The present research, looking at the stock performance leaders and laggards, analyzes whether the corporate governance system matters to achieve long-term shareholder value within the Central and Eastern European stock markets universe. Corporate governance quality was assessed and compared among the out- and underperformers. The financial results plausibility and the ownership structure were considered as well. Additionally, the authors analyzed whether the quality of corporate governance influences the economic performance of the company. The obtained results provide the proof that the corporate governance does matter as the market outperformers have above average corporate governance quality and provide trustworthy financial results more often than the underperforming companies. Besides, well-governed companies are also able to deliver more attractive financial results.

  18. THE SOUND OF CORPORATE GOVERNANCE

    Directory of Open Access Journals (Sweden)

    DUMITRASCU LUMINITA MIHAELA

    2012-07-01

    Full Text Available The paper explores the corporate governance and corporate social responsibility in music industry, by reviewing the literature and investigating the aspects in the context of a sample made by top companies in this domain. The paper spotlighting the mutual connections between corporate governance and corporate social responsibility. The research methodology used consists in investigate the corporate governance codes. It’s about a qualitative interpretive research methodology that was adopted. The findings suggest the intercorelation of corporate governance with corporate social responsibility. The main contribution of the author consists in the fact that the added value of this paper and the original contribution leads in the intercorelation of these two aspects of corporate governance and corporate social responsibility, the findings beeing interesting, implying that recent preoccupation with corporate governance in music industry is starting to be equable by some attention to social responsibility aspects, with growing appreciation of their interdependencies. Previous literature has researched corporate governance and corporate social responsibility independently. Due to this fact, this paper is considering them jointly. The paper is important for both practical and theoretical aspects: for managers and also can serve as the basis for future research on this topic. The current paper is realized in the doctoral program entitled “PhD in Economics at the Standards of European Knowledge- DoEsEc”, scientific coordinator Prof. PhD Niculae Feleaga, Institution: The Academy of Economic Studies Bucharest, Faculty of Accounting and Management Informatic System, Department of International Accounting, period of research 2009-2012.

  19. Environmental, social, and corporate report 2009 - Cezus Montreuil- Juigne (Areva)

    International Nuclear Information System (INIS)

    2010-01-01

    CEZUS, a subsidiary of AREVA, is the global leader in the market for zirconium, the metal used, among other things, for the cladding on fuel assembly tubes. CEZUS's operations are distributed over six sites. The site in Montreuil-Juigne, in western France, pilgers zirconium and titanium alloy tubes and blanks for the fabrication of fuel assembly tubes. This document shows details of the CEZUS Montreuil-Juigne facility and its 2009 initiatives on: consumption and waste management, risk management, environmental and safety management, social and corporate responsibilities

  20. Urban Risk Reduction Through Effective Disaster Management Plan-A Case Study Of Shimla City Himachal Pradesh India

    Directory of Open Access Journals (Sweden)

    Bhavna Karki

    2015-02-01

    Full Text Available Abstract By 2050 70 of the worlds population will live in urban areas. In India the urban population has increased from 217 million to 377 million in last two decades .With increasing population the associated risk and vulnerability has also increased. As cities continue to grow there is increased pressure on resources exposure of lives livelihoods and economic social and environmental assets to risk is set to increase exponentially. Recognised as one of the best cities for public services and one of the oldest Municipal Corporation in India Shimla city is situated at the traverse spur of the Central Himalayas at 31004 N to 31010 N latitude and 77005 E to 77015 E longitude at an altitude of 2397.59 m metres amsl. This paper aims at underlying the role of Shimla Municipal Corporation SMC as local government in managing disasters in the city along with effective planning and risk assessments.

  1. The Problem with the Low-Tax Backlash: Rethinking Corporate Tax Policies to Adjust for Uneven Reputational Risks

    Directory of Open Access Journals (Sweden)

    Jack M. Mintz

    2015-05-01

    Full Text Available When a major corporation is found to be paying little or no taxes, public backlash and media furor over the issue may ensue. Some governments may well be just fine with it, while others like U.S. may take steps to ensure companies pay more tax. Sometimes, companies being in a non-taxpaying position properly reflects appropriate tax policy. That explanation, however, does not sell lattés, which is why in 2012, after the British public grew outraged over the discovery that Starbucks was paying no corporate taxes in the U.K., the coffee retailer actually volunteered to just write a cheque to the government. The reputational damage to Starbucks’ brand, the company calculated, was not worth the money it was saving in avoiding taxes, even if it was doing so perfectly legally. The fear of this kind of reputational damage can foil the very taxation policies that governments design specifically as a means to tax corporations fairly, efficiently and competitively. It may be good tax policy to allow corporations various deductions, or the ability to carry forward or carry back losses, but it can be politically vexatious. U.S. President Barack Obama demonstrated that explicitly when he suggested certain American companies using so-called tax inversions to relocate their headquarters to low-tax jurisdictions, were failing in their “economic patriotism.” Yet more multinationals than ever are legally and quite appropriately using tax strategies to minimize their taxes in various jurisdictions to the point where they are paying little to no corporate tax. For some corporations, the risk of public backlash is greater than it is for others: Starbucks and Facebook, being consumer-facing companies with a great deal of brand goodwill, have a lot more at risk than do Pfizer and Oracle. This risk makes the playing field for taxation less level, jeopardizing the fundamental tax principle of horizontal equity — that those of similar means should pay similar

  2. Managerial Risk Accounting and Control – A German perspective

    OpenAIRE

    Winter, Peter

    2007-01-01

    Recent developments have sparked a renewed interest concerning risk related topics in nonfinancial companies. Risk management issues directly touch the domain of management accounting and control. In Germany, topics related to the support of corporate or enterprise risk management are commonly discussed under the label of “Risikocontrolling”, which will be translated as Managerial Risk Accounting and Control. However, the conceptual foundation of a risk oriented management accounting respecti...

  3. Risk management overview

    International Nuclear Information System (INIS)

    McGovern, S.

    1995-01-01

    Launching of the first natural gas contract by the New York Mercantile Exchange (NYMEX) in April 1990 was a huge success which allowed natural gas to surpass crude oil as the most successful launch of any commodity contract. Despite this unprecedented initial success it must be kept in mind that in a competitive marketplace there are risks of many kinds (market risks, price risks, basis risks, currency risks and timing risks), that parties must deal with in everyday operations. The concept of risk management was defined, techniques and issues in risk management were explained, a glossary of fully explained industry terms, and basic financial tools most often used in risk management, were provided. 11 figs

  4. Modern stage and the directions of developing the accounting system for hedging corporate derivatives

    OpenAIRE

    Ковтун, Ірина Юріївна

    2015-01-01

    The peculiarities of the accounting for hedging corporate derivatives oriented to the capital maintenance through system risk management have been disclosed. The suggestions on the accounting for hedging in the modern legal environment have been made

  5. Shaping corporate social responsibility management and reporting through engagement : The role of advocacy organisations

    NARCIS (Netherlands)

    Clune, C.

    2017-01-01

    Advocacy organisations have traditionally played a prominent role in shaping corporate social responsibility (CSR) management and reporting practices through organisational-level and institutional-level engagement. Recent years have seen advocacy organisations expand the nature and content of their

  6. Corporate communication and impression management - New perspectives why companies engage in corporate social reporting

    NARCIS (Netherlands)

    Hooghiemstra, R

    This paper addresses the theoretical framework on corporate social reporting. Although that corporate social reporting has been analysed from different perspectives, legitmacy theory currently is the dominating perspective. Authors employing this framework suggest that social and environmental

  7. China's Insurance Regulatory Reform, Corporate Governance Behavior and Insurers' Governance Effectiveness.

    Science.gov (United States)

    Li, Huicong; Zhang, Hongliang; Tsai, Sang-Bing; Qiu, Aichao

    2017-10-17

    External regulation is an important mechanism to improve corporate behavior in emerging markets. China's insurance governance regulation, which began to supervise and guide insurance corporate governance behavior in 2006, has experienced a complex process of reform. This study tested our hypotheses with a sample of 85 firms during 2010-2011, which was obtained by providing a questionnaire to all of China's shareholding insurance companies. The empirical study results generally show that China's insurance governance effectiveness has significantly improved through strict regulation. Insurance corporate governance can improve business acumen and risk-control ability, but no significant evidence was found to prove its influence on profitability, as a result of focusing less attention on governance than on management. State ownership is associated with higher corporate governance effectiveness than non-state ownership. Listed companies tend to outperform non-listed firms, and life insurance corporate governance is more effective than that of property insurers. This study not only contributes to the comprehensive understanding of corporate governance effectiveness but also to the literature by highlighting the effect of corporate governance regulation in China's insurance industry and other emerging economies of the financial sector.

  8. The usage of financial derivatives in financial risk management by non- financial companies in Serbia

    Directory of Open Access Journals (Sweden)

    Živanović Branko

    2017-01-01

    Full Text Available In this paper we analyse the research results on corporate risk management practices, notably in light of the derivatives use in the large Serbian non-financial companies. The principal aim of this paper is to examine whether Serbian companies employ derivatives to manage risk and to what degree, and to explore the main rationale behind the companies' not employing these instruments, as well as to suggest possible enhancements of risk management practices. Furthermore, we have investigated the key reasons why financial derivatives are very useful for Serbian companies for hedging financial risks. Additionally, this paper provides a comparative overview of the use of derivatives between Serbian companies and the companies in Croatia and Slovenia in order to ascertain whether Serbian companies employ derivatives in order to manage risk to the same degree as their Croatian and Slovenian counterparts. This paper will include findings and provide evidence that FX rate and referent interest rates (such as 1w- 2w repo rate, Beonia and Belibor are markedly volatile, which opens vast possibilities for the use of financial derivatives, given that these financial parameters determine the price of a credit arrangement for companies and the quality of import and export cash flows.

  9. RISK MANAGEMENT - AT THE CONVERGENCE BETWEEN PRUDENCE AND CONTINUITY, A BASIS FOR AN EFFICIENT GOVERNANCE

    Directory of Open Access Journals (Sweden)

    Gabriela-Geanina, TUDOSE

    2014-11-01

    Full Text Available The accountancy principles are sine qua non for a faithful image, nevertheless when it is about evaluation, accountancy is considered a source of uncertainty. The principle of being prudent is the pillar of accountancy having a view to protect the invested capital, although under the conditions of organizations development and of the desire to better results, which inevitably implies risk, this would infringe initiatives and change. Even more, prudence offers a continuity in organization activity, becoming accountancy fundamentals in the principles of corporation governance, the organization management respectively, by accepting the benefits of risk management, of financial management and internal control under the monitor of internal audit. The activity continuity is not only an accountancy principle but also an absolutely necessary element to quarantee the financial information. The principle of continuity also confers the accountancy science a provisional role because it extends its action from a simple elaboration of financial statements to the assurance of financial information to prevent difficulties, the finding and removal of risk and offering the necessary factors for an efficient provisional management. A good governance within a company reduces risks, increases performance, opens the way to financial markets, improves the marketing capacity for goods and services, the management style, shows transparency and social responsability.

  10. Managing the Right Projects: Best Practices to Align Project and Corporate Strategies

    Science.gov (United States)

    Watkins, Bobby

    2012-01-01

    If there's a human endeavor that exemplifies teamwork, it is space exploration. And that teamwork absolutely cannot happen effectively if the boots on the ground the people doing the work - don't understand how their work aligns with the larger goal. This presentation will discuss some best management practices from NASA's Marshall Space Flight Center that have succeeded in helping employees become informed, engaged and committed to the space agency's important missions. Specific topics include: Alignment Criteria: Linking Projects To Corporate Strategy. Resource Management: Best Practices For Resource Management. Strategic Analysis: Supporting Decision Making In A Changing Environment. Communication Strategies: Best Practices To Communicate Change. Benefits Achieved And Lessons Learned.

  11. The Utility of Corporate-Style Balance Sheets for DoD Managers

    Science.gov (United States)

    2014-06-01

    rate than sales in the presence of fixed costs. A doubling of sales, for example, usually implies a more than doubling of net income (Stickney...users. Corporations possess the jurisdiction to employ the assets on their books in any manner that management chooses. For instance, inventory can be...federal government leverages its ability to raise revenue through taxation , thereby negating a relationship between debt and net position. Instead, net

  12. The Quality of Management Information Systems and Its Effect on the Employees Performance at the Yemeni Public Telecommunication Corporation

    Directory of Open Access Journals (Sweden)

    عبد اللطيف مصلح محمد عايض

    2017-10-01

    Full Text Available In spite of the interest of many organizations in the development of information systems, some organizations did not give enough attention to this issue, including the Yemeni organizations. This is what the researchers noted in their dealings with some of these organizations. The Yemeni Public Telecommunications Corporation is one of them. It was noted that some of the administrative units concerned with the application of management information systems in the organization have certain weaknesses in some dimensions of the employees performance in the organization, and this may be due to the quality of their management information systems. This study aimed at demonstrating the effect of the quality of management information systems on the employees performance that was applied on the Public Telecommunication Corporation (PTC. The population of the study included all users of management information systems in PTC totaling (117 employees. Their number was, to some extent, small, so they were selected to be the study sample. To achieve the objectives of the study, the descriptive and analytical method was used. To collect the data of the study, a questionnaire was developed and validated to measure the study objectives and to test its hypotheses.  To analyze the data, (SPSS program was used. The study found a set of conclusions the most important of which was that the level of both the quality of management information systems and the performance of employees in the Yemeni Public Telecommunications Corporation was high. Moreover, there was a positive effect for the quality of management information systems on the employees’ performance in PTC. Keywords: Quality of management information systems, Employees performance, Yemeni Public Telecommunications Corporation.

  13. 76 FR 79531 - Corporate Credit Unions

    Science.gov (United States)

    2011-12-22

    ... exclude CLF stock subscriptions, based on the asset's negligible credit risk and to facilitate corporate... removing paragraphs (c)(3) and (f)(4) and adding paragraph (h) to read as follows: Sec. 704.6 Credit risk... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 704 RIN 3133-AD95 Corporate Credit Unions AGENCY...

  14. 78 FR 60375 - Rogue Valley Terminal Railroad Corporation-Corporate Family Transaction Exemption

    Science.gov (United States)

    2013-10-01

    ... approximately 14 miles of rail line located in the Medford Industrial Park in White City, Or., where it connects... corporate affiliate, Medford Industrial Trainline Management LLC (Medford), to which Rogue Valley will... changes, or changes in the competitive balance with carriers outside the corporate family. Under 49 U.S.C...

  15. Quality, risk management and governance in mental health: an overview.

    Science.gov (United States)

    Callaly, Tom; Arya, Dinesh; Minas, Harry

    2005-03-01

    To consider the origin, current emphasis and relevance of the concepts of quality, risk management and clinical governance in mental health. Increasingly, health service boards and management teams are required to give attention to clinical governance rather than corporate governance alone. Clinical governance is a unifying quality concept that aims to produce a structure and systems to assure and improve the quality of clinical services by promoting an integrated and organization-wide approach towards continuous quality improvement. Many psychiatrists will find the reduction in clinical autonomy, the need to consider the welfare of the whole population as well as the individual patient for whom they are responsible, and the requirement that they play a part in a complex systems approach to quality improvement to be a challenge. Avoiding or ignoring this challenge will potentially lead to conflict with modern management approaches and increased loss of influence on future developments in mental health services.

  16. Corporate governance in Balkan financial institution, case of Albania

    Directory of Open Access Journals (Sweden)

    Rezart Dibra

    2013-06-01

    Full Text Available Corporate governance has at its backbone a set of transparent relationships between an institution’s management, its board, shareholders and other stakeholders. In this article, in the first part, the nature and purpose of corporate governance has been discussed with special emphasis on the problems of banks in the field of corporate governance. Corporate governance involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed. Lately, corporate governance has been comprehensively defined as "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby mitigating agency risks which may stem from the misdeeds of corporate officers. The financial crisis exposed flaws throughout financial markets and prompted much investigation into the way banks work. The ‘2008 crisis in the financial industry, among other causes, brought to light the conflict of interest between achieving aggressive results by the executives in order to obtain bonuses and the long-term risk associated with the commercial company in its business. This paper focuses on one line of investigation—the corporate governance of banks. It examines why governance of banks differs from governance of nonfinancial firms and where the governance of banks failed during the crisis; it also offers recommendations for improving the governance system. Bank governance has been the topic of much recent academic work and policy discussion (Senior Supervisors Group 2008, 2009; Walker Report 2009; Committee of European Banking Supervisors 2010. Because of their contemporaneous nature, there has been little connection between the academic approach and policy analysis. The purpose of

  17. RISK DISCLOSURE ANALYSIS IN THE CORPORATE GOVERNANCE ANNUAL REPORT USING FUZZY-SET QUALITATIVE COMPARATIVE ANALYSIS

    Directory of Open Access Journals (Sweden)

    Pedro Carmona

    2016-05-01

    Full Text Available This paper explores the necessary and sufficient conditions of good Corporate Governance practices for high risk disclosure by firms in their Corporate Governance Annual Report. Additionally, we explore whether those recipes have changed during the financial crisis. With a sample of 271 Spanish listed companies, we applied fuzzy-set qualitative comparative analysis to a database of financial and non-financial data. We report that Board of Directors independence, size, level of activity and gender diversity, CEO duality, Audit Committee independence, being audited by the Big Four auditing firms and the presence of institutional investors are associated with high risk disclosure. The conditions included in almost every combination are the presence of institutional investors and being audited by the Big Four. We found similar combinations for 2006 and 2012, while the analysis for 2009 showed the lowest number of causal configurations.

  18. Educating European Corporate Communication Professionals for Senior Management Positions: A Collaboration between UCLA's Anderson School of Management and the University of Lugano

    Science.gov (United States)

    Forman, Janis

    2005-01-01

    UCLA's program in strategic management for European corporate communication professionals provides participants with a concentrated, yet selective, immersion in those management disciplines taught at U.S. business schools, topics that are essential to their work as senior advisors to CEOs and as leaders in the field. The choice of topics…

  19. Risk management of knowledge loss in nuclear industry organizations

    International Nuclear Information System (INIS)

    2006-07-01

    Maintaining nuclear competencies in the nuclear industry and nuclear regulatory authorities will be one of the most critical challenges in the near future. As many nuclear experts around the world are retiring, they are taking with them a substantial amount of knowledge and corporate memory. The loss of such employees who hold knowledge critical to either operations or safety poses a clear internal threat to the safe and reliable operation of nuclear facilities. This publication is intended for senior and middle level managers of nuclear industry operating organizations and provides practical information on knowledge loss risk management. The information provided in this it is based upon the actual experiences of Member State operating organizations and is intended to increase awareness of the need to: develop a strategic approach and action plans to address the potential loss of critical knowledge and skills; provide processes and in conducting risk assessments to determine the potential for loss of critical knowledge caused by the loss of experienced workers; and enable nuclear organizations to utilize this knowledge to improve the skill and competence of new and existing workers In 2004, the IAEA published a report entitled The Nuclear Power Industry's Ageing Workforce: Transfer of Knowledge to the Next Generation (IAEA-TECDOC-1399). That report highlighted some of the knowledge management issues in Member States resulting from the large number of retiring nuclear power plant personnel who had been involved with the commissioning and initial operation of nuclear power plants. This publication complements that report by providing a practical methodology on knowledge loss risk management as one element of an overall strategic approach to workforce management which includes work force planning, recruitment, training, leadership development and knowledge retention

  20. An analysis of security price risk and return among publicly traded pharmacy corporations.

    Science.gov (United States)

    Gilligan, Adrienne M; Skrepnek, Grant H

    2013-01-01

    Community pharmacies have been subject to intense and increasing competition in the past several decades. To determine the security price risk and rate of return of publicly traded pharmacy corporations present on the major U.S. stock exchanges from 1930 to 2009. The Center of Research in Security Prices (CRSP) database was used to examine monthly security-level stock market prices in this observational retrospective study. The primary outcome of interest was the equity risk premium, with analyses focusing upon financial metrics associated with risk and return based upon modern portfolio theory (MPT) including: abnormal returns (i.e., alpha), volatility (i.e., beta), and percentage of returns explained (i.e., adjusted R(2)). Three equilibrium models were estimated using random-effects generalized least squares (GLS): 1) the Capital Asset Pricing Model (CAPM); 2) Fama-French Three-Factor Model; and 3) Carhart Four-Factor Model. Seventy-five companies were examined from 1930 to 2009, with overall adjusted R(2) values ranging from 0.13 with the CAPM to 0.16 with the Four-Factor model. Alpha was not significant within any of the equilibrium models across the entire 80-year time period, though was found from 1999 to 2009 in the Three- and Four-Factor models to be associated with a large, significant, and negative risk-adjusted abnormal returns of -33.84%. Volatility varied across specific time periods based upon the financial model employed. This investigation of risk and return within publicly listed pharmacy corporations from 1930 to 2009 found that substantial losses were incurred particularly from 1999 to 2009, with risk-adjusted security valuations decreasing by one-third. Copyright © 2013 Elsevier Inc. All rights reserved.

  1. The Risk Management Functions in the Conditions of Globalization: Case Study of the Republic of Serbia

    Directory of Open Access Journals (Sweden)

    Zlatija Jelenković

    2016-09-01

    Full Text Available Globalization, which represents an important transmission mechanism of the crisis, has led to the necessity for controlling various risks of business, setting a new line of management in companies, regardless of the main business activity they are engaged in. The economic crisis in general, and especially the global financial crises (2007 and the present one led to bankruptcy, and thus to loss of funds of many businesses and individuals. Therefore, it was necessary, on the one hand, to ensure confidence in the financial system and to maintain its stability. On the other hand, the development of corporate governance and separation of functions of ownership and management insisted on the creation of functions that directly report to the owners of capital, such as risk management and internal audit. The value of this paper is in emphasizing the new management function and raising awareness of the scientific public and businesses about the need for introduction of risk management functions in order to facilitate effective management of enterprises, although the survey (2012-2015 has shown that the existence of legal obligations, in this regard penal policy, is the only thing that effectively establishes and promotes this area.

  2. Investigation of risk management auditing

    International Nuclear Information System (INIS)

    Cao Lu

    2012-01-01

    2004, COSO published 'Enterprise Risk Management Framework', 2009, SASAC issued the 'central enterprise-wide risk management guidelines' to promote risk management within the formal state-owned enterprises in medium and large. Nuclear Group, which risk management in all branches to carry out the project homeopathic, and A Ⅱ will carry out risk management program as the first unit has accumulated more experience. This article from the perspective of internal control, based on the company's risk management practices carried out to try for the nuclear power enterprise risk management audit to describe and propose new ideas. Which expounds the significance of risk management, audit, risk management audit of the ways and means, for practical application of risk management audit of a representative summary of the issues and the ways and means to solve the problem of forward-looking recommendations. (authors)

  3. RISK MANAGEMENT: AN INTEGRATED APPROACH TO RISK MANAGEMENT AND ASSESSMENT

    Directory of Open Access Journals (Sweden)

    Szabo Alina

    2012-12-01

    Full Text Available Purpose: The objective of this paper is to offer an overview over risk management cycle by focusing on prioritization and treatment, in order to ensure an integrated approach to risk management and assessment, and establish the ‘top 8-12’ risks report within the organization. The interface with Internal Audit is ensured by the implementation of the scoring method to prioritize risks collected from previous generated risk report. Methodology/approach: Using evidence from other research in the area and the professional expertise, this article outlines an integrated approach to risk assessment and risk management reporting processes, by separating the risk in two main categories: strategic and operational risks. The focus is on risk prioritization and scoring; the final output will comprise a mix of strategic and operational (‘top 8-12’ risks, which should be used to establish the annual Internal Audit plan. Originality/value: By using an integrated approach to risk assessment and risk management will eliminate the need for a separate Internal Audit risk assessment over prevailing risks. It will reduce the level of risk assessment overlap by different functions (Tax, Treasury, Information System over the same risk categories as a single methodology, is used and will align timings of risk assessment exercises. The risk prioritization by usage of risk and control scoring criteria highlights the combination between financial and non-financial impact criteria allowing risks that do not naturally lend themselves to a financial amount to be also assessed consistently. It is emphasized the usage of score method to prioritize the risks included in the annual audit plan in order to increase accuracy and timelines.

  4. The Corporate Value and Social Responsibility.

    Science.gov (United States)

    Lilly, Edward R.

    In the past two decades, corporate social responsibility has become a controversial issue which is usually responded to according to the management style of individual corporations. Three concepts of management style have developed. Profit maximization considers that money and wealth are most important, labor is a commodity to be bought and sold,…

  5. Contribution of Expatriates in the Management of Subsidiaries to the Corporate Governance of International Firms: the Case of Vale

    Directory of Open Access Journals (Sweden)

    T. Diana L. van Aduard de Macedo-Soares

    2010-01-01

    Full Text Available In the current context of globalization, where firms are increasingly operating in networks of relationships with international subsidiaries, the relevance of their corporate governance has become evident. By the same token, the contribution to corporate governance of expatriates in these subsidiaries has become an important topic of discussion. The literature is not unanimous in recognizing the contribution of expatriates. However, the question as to whether the participation of expatriates in the management of international firms’ subsidiaries is a critical success factor for their corporate governance has not been fully analyzed. This article presents the results of a study of a leading international firm - Vale - that investigated this question from a network perspective, with a view to narrowing this gap. The case study method was adopted and data collected from various sources - documental investigation, structured questionnaires and interviews. The results suggested that expatriates can contribute to the success of corporate governance, especially through informal elements pertinent to social mechanisms of governance, such as commitment, communication, flexibility, trust and interdependence. The study thus provided insights for both managers of international firms and academics on corporate governance from a network perspective.

  6. Continuous Risk Management: An Overview

    Science.gov (United States)

    Rosenberg, Linda; Hammer, Theodore F.

    1999-01-01

    Software risk management is important because it helps avoid disasters, rework, and overkill, but more importantly because it stimulates win-win situations. The objectives of software risk management are to identify, address, and eliminate software risk items before they become threats to success or major sources of rework. In general, good project managers are also good managers of risk. It makes good business sense for all software development projects to incorporate risk management as part of project management. The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to implement risk management. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This is an introductory tutorial to continuous risk management based on this course. The rational for continuous risk management and how it is incorporated into project management are discussed. The risk management structure of six functions is discussed in sufficient depth for managers to understand what is involved in risk management and how it is implemented. These functions include: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions.

  7. JURIDICAL AND ECONOMIC ANALYSIS OF THE CORPORATE SOCIAL RESPONSIBILITY IN THE BANKING MANAGEMENT FROM ROMANIA

    Directory of Open Access Journals (Sweden)

    Muresan (Potincu Laura

    2015-07-01

    Full Text Available At present, the corporate social responsibility must be regarded from a complex perspective. We consider that the social responsibility of the banks is what the community expects from a bank ecologically, economically, juridically, ethically, and philanthropically. Thus, the banking corporate social responsibility includes all these types of responsibilities: the ecological responsibility, the economic responsibility, the juridical responsibility, the ethical responsibility, and the philanthropic responsibility. Combining the juridical analysis with the marketing research, this work aims at the actual compliance with the corporate social responsibility by the banks from Romania, an European Union member state. The juridical regulations adopted mid 2013 at the European Union level bring a new approach to the relation between the most important categories of stakeholders – consumers and employees – and the bank by means of actual juridical specifications regarding the banking management. Presenting the most important provisions of Directive 2013/36/UE of the European Parliament and Council regarding the access to the activity of the credit institutions and prudential supervision of the credit institutions and investment companies, and of Regulation no. 575/2013 of the European Parliament and Council regarding the prudential requirements for the credit institutions and investment companies, in relation to the corporate social responsibility aspects offers an interesting image of the evolution of the legislative aspects regulating the banking management. One can note, in practice, the assimilation by the banks of the corporate social responsibility only with its philanthropic component, ignoring the most important elements of the social responsibility: the juridical responsibility, the ethical responsibility, or the economic responsibility. This work shows results of a quantitative marketing research which has been performed in Bra

  8. THE RELATIONSHIP BETWEEN CORPORATE VOLUNTEERING AND CORPORATE SOCIAL RESPONSIBILITY: RESULTS OF AN EMPIRICAL STUDY

    Directory of Open Access Journals (Sweden)

    Oscar Licandro

    2017-01-01

    Full Text Available Corporate Volunteering (CV is a phenomenon that emerged in the second half of the 20th century and began to grow and globalize at the beginning of the 21st century. There seems to be a consensus that the recent growth of Corporate Volunteering is related to the development and growing legitimacy of the concept of Corporate Social Responsibility (CSR. Nevertheless, the theoretical discussion on how the two concepts (Corporate Volunteering and Corporate Social Responsibility are related is just beginning, while empirical research on how this relationship operates in corporate practice is still incipient. This paper presents preliminary results of a research on this subject carried out in Uruguay in 2016. This is a statistical study that analyses the relationship between the application of corporate volunteering activities and the incorporation of a CSR approach to the management of companies. The incorporation of both types of practices is measured by a self-assessment questionnaire that includes 81 indicators (using a Likert scale to assess them, which were designed based on ISO 26000 Guidance of Social Responsibility. The questionnaire was administered to 96 companies, using a comparative analysis between those that practice Corporate Volunteering and those which do not. The results obtained allow us to support the hypothesis that the application of Corporate Volunteering is positively associated with the incorporation of CSR when managing the relationship between the company and its employees and also with the community. Moreover, these results contribute to a better understanding on how both concepts are related.

  9. Approving the ISDWIR Method of Risk Measurement in Making Risk Management Decision || Aprobación del método de medición del riesgo SIIPDR en el manejo de asunción de riesgos

    Directory of Open Access Journals (Sweden)

    Strelnik, Mikhail

    2014-06-01

    Full Text Available This paper is devoted to risk management and risk measurement methods. The author considers methods of risk measurement and proposes the Integral Sum of Diff erential Weighted Indexes of Risks (or ISDWIR method of risk measurement. The method is based on dynamic enterprise risk matrices. The matrix describes the changes of corporate risk values over the time. The method assists to choose risk management decision having good e ffects on corporate risk values. The ISDWIR method is also compared with other risk measurement methods. || Este artículo está dedicado a la gestión del riesgo y a los métodos de medición de riesgos. El autor considera diferentes métodos de medición de riesgo y propone el método de la Suma Integral de Índices Ponderados Diferenciales de Riesgos (o método SIIPDR. Dicho método se basa en las matrices de riesgo empresarial dinámico. Dichas matrices describen los cambios de los valores de riesgo corporativos en el tiempo. El método ayuda a elegir la decisión de gestión del riesgo que tiene un buen efecto sobre los valores de riesgos corporativos. También se compara el método SIIPDR con otros métodos de medición del riesgo.

  10. Auditors' Experience with Corporate Psychopaths

    DEFF Research Database (Denmark)

    Klarskov Jeppesen, Kim; Leder, Christina

    2016-01-01

    Purpose: The purpose of this paper is to analyse auditors’ experience with corporate psychopaths in their client management. Design/methodology/approach: The research was conducted as a survey among Danish state-authorized auditors, to which 179 auditors responded, representing 9% of the total...... population. Findings: Of the participating auditors, 69% had experienced corporate psychopaths in their client management and 70% of these had experienced more than one case. In addition, 43% of the auditors who had experienced psychopathic managers reported that they had committed fraud. The vast majority...... of cases were detected in the execution and completion phases of the audit and resulted in increased professional scepticism, the use of more experienced auditors and the requirement for more and better audit evidence. Research limitations/implications: The findings confirm that corporate psychopaths...

  11. Persepsi Etis Mahasiswa Akuntansi Mengenai Skandal Etis Auditor dan Corporate Manager

    OpenAIRE

    Elok Faiqoh Himmah

    2013-01-01

    The purpose of this study is to obtain empirical evidence about the influence of ethical orientation (idealism and relativism), gender and level of knowledge of the accounting student’s perceptions regarding ethical scandals by accountant and corporate managers with research model developed by Comunale et al (2006). Results of the analysis in this study indicated that idealism, gender and level of knowledge of the public accounting profession and accounting scandals accounting affected studen...

  12. Agricultural risk management

    DEFF Research Database (Denmark)

    Lund, Mogens; Oksen, Arne; Larsen, Torben U.

    2005-01-01

    A new model for risk management in agriculture is described in the paper. The risk model is constructed as a context dependent process, which includes four main phases. The model is aimed at agricultural advisors, who wish to facilitate and disseminate risk management to farmers. It is developed...... and tested by an action research approach in an attempt to make risk management more applicable on family farms. Our obtained experiences indicate that farmers don’t apply probabilistic thinking and other concepts according to formal decision theory....

  13. The Role of Cultural Compatibility in Effective Management The Application of Cultural Four-dimensional Model in Transnational Corporations

    Institute of Scientific and Technical Information of China (English)

    成哲

    2015-01-01

    Cross-cultural management is often regarded as a discipline of international management focusing on cultural encounters between the organization and the nation-state, and providing tools to tackle cultural difl'erences seen as sources of conflict, friction or misunderstanding. Based on Greet Hofstede' s Cultural Model, this paper attempts to shed some light on effective corporation management through cultural analysis of the difl'erences between China and western countries. The paper puts more emphasis on the impact of cultural compatibility on effective corporation man- agement through the case study of China, Japan, Germany and America. The author argues that managers and employ- ees involved in companies with diverse cultural backgrounds should be integrated and developed into a specific local context through interlocking their cultural identifications and the organizational practices.

  14. Management Development Programs: The Effects of Management Level and Corporate Strategy. [and] Invited Reaction: Level and Strategy Should and Do Make a Difference!

    Science.gov (United States)

    Blakely, Gerald L.; And Others

    1994-01-01

    Consensus of survey responses from 155 of 600 human resource managers was as follows: management development programs emphasized technical skills at lower levels, entrepreneurial skills at senior levels; organizations with corporate growth strategies focused on more areas than those with stability or retrenchment strategies. (Muschewske's reaction…

  15. Risk-based investment trade-off related to building facility management

    Energy Technology Data Exchange (ETDEWEB)

    Taillandier, F. [Departement TIDS, Centre Scientifique et Technique du Batiment, 06904 Sophia Antipolis (France); Laboratoire Optimisation de la conception et Ingenierie de l' environnement, Polytech' Savoie, Universite de Savoie, 73376 Le Bourget du lac (France)], E-mail: franck.taillandier@univ-savoie.fr; Sauce, G. [Laboratoire Optimisation de la conception et Ingenierie de l' environnement, Polytech' Savoie, Universite de Savoie, 73376 Le Bourget du lac (France); Bonetto, R. [Departement TIDS, Centre Scientifique et Technique du Batiment, 06904 Sophia Antipolis (France)

    2009-04-15

    Due to his or her profession, any building facility manager has to face many decision-making situations. One of the most important to be mentioned is the arbitration of a multi-year maintenance plan for buildings. Deciding between proposed maintenance actions, according to several constraints, so as to aim at satisfying corporate strategy is a complex choice. Risk approaches can be particularly effective because of their ability to handle complexity and uncertainties. The problem is then to be able to propose a method considering risks, adapted to the specific context of building facility management. Our method, regarded as a traditional approach, includes needed resources (i.e. costs) according to constraints (i.e. budget), but it also considers several risk domains (safety, technical preservation, client satisfaction, etc.), through the consequences (gain and loss). It proposes an ergonomic arbitration system based on filters following two complementary approaches: a selection of the fundamental actions and then an optimization of the plan (in a global view). The aim, for decision-makers, is to build their own solution by testing multiple angles of vision in simulation logic. This article presents the principles of the method, illustrated by an example of a real case conducted for a leading French company.

  16. Risk-based investment trade-off related to building facility management

    International Nuclear Information System (INIS)

    Taillandier, F.; Sauce, G.; Bonetto, R.

    2009-01-01

    Due to his or her profession, any building facility manager has to face many decision-making situations. One of the most important to be mentioned is the arbitration of a multi-year maintenance plan for buildings. Deciding between proposed maintenance actions, according to several constraints, so as to aim at satisfying corporate strategy is a complex choice. Risk approaches can be particularly effective because of their ability to handle complexity and uncertainties. The problem is then to be able to propose a method considering risks, adapted to the specific context of building facility management. Our method, regarded as a traditional approach, includes needed resources (i.e. costs) according to constraints (i.e. budget), but it also considers several risk domains (safety, technical preservation, client satisfaction, etc.), through the consequences (gain and loss). It proposes an ergonomic arbitration system based on filters following two complementary approaches: a selection of the fundamental actions and then an optimization of the plan (in a global view). The aim, for decision-makers, is to build their own solution by testing multiple angles of vision in simulation logic. This article presents the principles of the method, illustrated by an example of a real case conducted for a leading French company

  17. CORPORATE GOVERNANCE – WAY OF GOVERNANCE FOR MODERN COMPANIES

    Directory of Open Access Journals (Sweden)

    Alina HAGIU

    2016-05-01

    Full Text Available Through corporate governance is aimed the building of a structure enabling a wide degree of freedom, within the law, and includes several changes of principle in accordance with international standards of transparency. A good governance within an organization mitigate risk, increase performance, pave the way towards financial markets, brings competitive goods and services on market, improves management style, show transparency towards all stakeholders and social responsibility. The lack of some mandatory rules and structures can lead to chaos in business. The paper aims to present the role and the importance of the corporate governance for modern companies, as well as the principles on which this is based. In order to do that we also identified the main ways to quantificate the level of corporate governance, including also the non-financial performance criteria used by investors to assess companies listed on stock exchange.

  18. Product market competition and corporate governance

    Directory of Open Access Journals (Sweden)

    Julia Chou

    2011-04-01

    Full Text Available This paper investigates whether product market competition acts as an external mechanism for disciplining management and also whether there is any relationship between the degree of competition a firm faces and its corporate governance. We find that firms in competitive industries or with low market power tend to have weak corporate governance structures. Results are robust to various competition measures at firm and industry levels, even after controlling for firm-specific variables. We further find that corporate governance quality has a significant effect on performance only when product market competition is weak. The overall evidence suggests that product market competition has a substantial impact on corporate governance and that it substitutes for corporate governance quality. Finally, we provide evidence that the disciplinary force of competition on management is from the fear of liquidation.

  19. Financial Risk Ratios and Earnings Management: Reducing Uncertainties in Shariah-compliant Companies

    Directory of Open Access Journals (Sweden)

    Soheil Kazemian

    2018-01-01

    Full Text Available This study examines whether Shariah-compliant companies practice earnings management by investigating the relationship among the risk of financial distress, leverage, and free cash flow in discretionary accruals, which function as a substitute for earnings management. This empirical research is conducted on a sample of Malaysian Shariah-compliant companies from all industries in Bursa Malaysia from 2012 to 2014. Results show that Shariah-compliant companies are highly influenced by the risk of financial distress, leverage, and free cash flow. This study argues that working as either Shariah-compliant or non-Shariah-compliant does not affect the level of earnings management through financial distress, high leverage, and free cash flow by managers. Results should be of interest to stakeholders, shareholders, and regulatory bodies (i.e., the Shariah Advisory Council and the Securities Commission that oversee the accountability of corporate financial reporting to prevent earnings management in Shariah-compliant companies. Findings can also aid relevant authorities (i.e., the Shariah Advisory Council and the Security Commission in Malaysia in overcoming or reducing problems related to earnings management. This study is one of the most significant works in Malaysia in terms of sample size and methodology. It argues that the three elements of earnings management (i.e., financial distress, high leverage, and free cash flow influence better disclosure of reported earnings.

  20. RISK MANAGEMENT: AN INTEGRATED APPROACH TO RISK MANAGEMENT AND ASSESSMENT

    OpenAIRE

    Szabo Alina

    2012-01-01

    Purpose: The objective of this paper is to offer an overview over risk management cycle by focusing on prioritization and treatment, in order to ensure an integrated approach to risk management and assessment, and establish the ‘top 8-12’ risks report within the organization. The interface with Internal Audit is ensured by the implementation of the scoring method to prioritize risks collected from previous generated risk report. Methodology/approach: Using evidence from other research in ...

  1. The Energy Efficiency of Corporate Real Estate Assets: The Role of Professional Management for Corporate Environmental Performance

    OpenAIRE

    Markus Surmann; Wolfgang A. Brunauer; Sven Bienert

    2015-01-01

    Despite the rising information about the ecological footprint and greenhouse gas externalities of corporates' activities only little is known about the energy efficiency of corporate real estate assets. When considering achievements from the past, such as significant reduction of carbon emissions and towards carbon accounting, the energy consumption of corporate real estate assets is of emerging interest within the sustainability strategy of corporations. On the contrary to residential and co...

  2. Audit mode change, corporate governance

    OpenAIRE

    Limei Cao; Wanfu Li; Limin Zhang

    2015-01-01

    This study investigates changes in audit strategy in China following the introduction of risk-based auditing standards rather than an internal control-based audit mode. Specifically, we examine whether auditors are implementing the risk-based audit mode to evaluate corporate governance before distributing audit resources. The results show that under the internal control-based audit mode, the relationship between audit effort and corporate governance was weak. However, implementation of the ri...

  3. Commodity risk management

    Directory of Open Access Journals (Sweden)

    Hilary Till

    2016-09-01

    Full Text Available This article discusses the practical issues involved in applying a disciplined risk management methodology to commodity futures trading. Accordingly, the paper shows how to apply methodologies derived from both conventional asset management and hedge fund management to futures trading. The article also discusses some of the risk management issues that are unique to leveraged futures trading.

  4. "HIV is irrelevant to our company": everyday practices and the logic of relationships in HIV/AIDS management by Japanese multinational corporations in northern Thailand.

    Science.gov (United States)

    Michinobu, Ryoko

    2009-03-01

    Multinational corporations (MNCs) are important participants in workplace initiatives on HIV/AIDS as they collaborate with international organizations to globally promote various policies and guidelines. To date, MNCs have enacted the majority of such initiatives in North America, Europe and South Africa, but we have little information on how MNCs elsewhere, especially in Japan, have responded to the issue of HIV/AIDS in the workplace. This study examines the actual on the ground situation of HIV/AIDS management in Japanese MNCs, specifically investigating everyday corporate practices in the context of internal interactions and relationships and the resulting practices and outlook concerning HIV/AIDS. It is based on a secondary analysis of ethnographic case studies conducted in 10 Japanese-affiliated companies in northern Thailand. Japanese managers, Thai managers and ordinary Thai workers all considered HIV/AIDS to be "irrelevant" to their company and/or themselves. HIV/AIDS measures in the companies were limited to provision of information. This perception and management of HIV/AIDS developed from their everyday interactions governed by the logic of relationships in the companies. In these interactions, they categorized others based on their ascriptive status, primarily based on class, ethnicity and nationality. They sought scapegoat groups that were lower than them in the class- and ethnicity/nationality-based hierarchical system, and cast the risk of HIV infection upon the scapegoat groups, thus reducing their own sense of risk. The paper shows that the relational logic, not ideals or principles, influences their views of and actions concerning HIV/AIDS management in the companies. This is why Japanese companies are unable to deal with HIV/AIDS in terms of international policies and guidelines that are based on the logic of human rights and the logic of business principles. The results suggest a need for international policymakers to pay more attention to

  5. Internal Audit and Risk Management

    OpenAIRE

    Constantin Nicolae Vasile; Alexandru Georgiana

    2011-01-01

    Internal audit and risk management have the same goal: the control of risk. There are various roles for the internal audit in respect of risk management. The main limitations of internal audit in respect of risk management regards assuming risk management tasks. One of the main issues regarding risk management is to make sure that the key risks are taken into consideration and that the management and the board of the organization take action as needed. Internal audit could give advice to mana...

  6. Corporate Support of Education: Some Strings Attached

    Science.gov (United States)

    Malott, Robert H.

    1978-01-01

    Corporate self-interest should guide corporate giving. Managers of publicly held corporations have the right, the capability, and the obligation to establish a philosophical screen to use in determining how shareholders' money is to be donated. (Author/MLF)

  7. Toxicity potentials from waste cellular phones, and a waste management policy integrating consumer, corporate, and government responsibilities

    International Nuclear Information System (INIS)

    Lim, Seong-Rin; Schoenung, Julie M.

    2010-01-01

    Cellular phones have high environmental impact potentials because of their heavy metal content and current consumer attitudes toward purchasing new phones with higher functionality and neglecting to return waste phones into proper take-back systems. This study evaluates human health and ecological toxicity potentials from waste cellular phones; highlights consumer, corporate, and government responsibilities for effective waste management; and identifies key elements needed for an effective waste management strategy. The toxicity potentials are evaluated by using heavy metal content, respective characterization factors, and a pathway and impact model for heavy metals that considers end-of-life disposal in landfills or by incineration. Cancer potentials derive primarily from Pb and As; non-cancer potentials primarily from Cu and Pb; and ecotoxicity potentials primarily from Cu and Hg. These results are not completely in agreement with previous work in which leachability thresholds were the metric used to establish priority, thereby indicating the need for multiple or revised metrics. The triple bottom line of consumer, corporate, and government responsibilities is emphasized in terms of consumer attitudes, design for environment (DfE), and establishment and implementation of waste management systems including recycling streams, respectively. The key strategic elements for effective waste management include environmental taxation and a deposit-refund system to motivate consumer responsibility, which is linked and integrated with corporate and government responsibilities. The results of this study can contribute to DfE and waste management policy for cellular phones.

  8. Toxicity potentials from waste cellular phones, and a waste management policy integrating consumer, corporate, and government responsibilities.

    Science.gov (United States)

    Lim, Seong-Rin; Schoenung, Julie M

    2010-01-01

    Cellular phones have high environmental impact potentials because of their heavy metal content and current consumer attitudes toward purchasing new phones with higher functionality and neglecting to return waste phones into proper take-back systems. This study evaluates human health and ecological toxicity potentials from waste cellular phones; highlights consumer, corporate, and government responsibilities for effective waste management; and identifies key elements needed for an effective waste management strategy. The toxicity potentials are evaluated by using heavy metal content, respective characterization factors, and a pathway and impact model for heavy metals that considers end-of-life disposal in landfills or by incineration. Cancer potentials derive primarily from Pb and As; non-cancer potentials primarily from Cu and Pb; and ecotoxicity potentials primarily from Cu and Hg. These results are not completely in agreement with previous work in which leachability thresholds were the metric used to establish priority, thereby indicating the need for multiple or revised metrics. The triple bottom line of consumer, corporate, and government responsibilities is emphasized in terms of consumer attitudes, design for environment (DfE), and establishment and implementation of waste management systems including recycling streams, respectively. The key strategic elements for effective waste management include environmental taxation and a deposit-refund system to motivate consumer responsibility, which is linked and integrated with corporate and government responsibilities. The results of this study can contribute to DfE and waste management policy for cellular phones. 2010 Elsevier Ltd. All rights reserved.

  9. Managing risk in an unstable world.

    Science.gov (United States)

    Bremmer, Ian

    2005-06-01

    With emerging markets like China and politically unstable countries like Saudi Arabia figuring more than ever into companies' investment calculations, business leaders are turning to political risk analysis to measure the impact of politics on potential markets, minimize risks, and make the most of global opportunities. But political risk is more subjective than its economic counterpart. It is influenced by the passage of laws, the foibles of government leaders, and the rise of popular movements. So corporate leaders must grapple not just with broad, easily observable trends but also with nuances of society and even quirks of personality. And those hard-to-quantify factors must constantly be pieced together into an ongoing narrative within historical and regional contexts. As goods, services, information, ideas, and people cross borders today with unprecedented velocity, corporations debating operational or infrastructural investments abroad increasingly need objective, rigorous assessments. One tool for measuring and presenting stability data, for example, incorporates 20 composite indicators of risk in emerging markets and scores risk variables according to both their structural and their temporal components. The indicators are then organized into four equally weighted subcategories whose ratings are aggregated into a single stability score. Countries are ranked on a scale of zero (a failed state) to100 (a fully institutionalized, stable democracy). Companies can buy political risk analyses from consultants or, as some large energy and financial services organizations have done, develop them in-house. Either way, a complete and accurate picture of any country's risk requires analysts with strong reportorial skills; timely, accurate data on a variety of social and political trends; and a framework for evaluating the impact of individual risks on stability.

  10. COMPARATIVE ANALYSIS BETWEEN THE TRADITIONAL MODEL OF CORPORATE GOVERNANCE AND ISLAMIC MODEL

    Directory of Open Access Journals (Sweden)

    DAN ROXANA LOREDANA

    2016-08-01

    Full Text Available Corporate governance represents a set of processes and policies by which a company is administered, controlled and directed to achieve the predetermined management objectives settled by the shareholders. The most important benefits of the corporate governance to the organisations are related to business success, investor confidence and minimisation of wastage. For business, the improved controls and decision-making will aid corporate success as well as growth in revenues and profits. For the investor confidence, corporate governance will mean that investors are more likely to trust that the company is being well run. This will not only make it easier and cheaper for the company to raise finance, but also has a positive effect on the share price. When we talk about the minimisation of wastage we relate to the strong corporate governance that should help to minimise waste within the organisation, as well as the corruption, risks and mismanagement. Thus, in our research, we are trying to determine the common elements, and also, the differences that have occured between two well known models of corporate governance, the traditional Anglo – Saxon model and also, the Islamic model of corporate governance.

  11. China’s Insurance Regulatory Reform, Corporate Governance Behavior and Insurers’ Governance Effectiveness

    Science.gov (United States)

    Zhang, Hongliang; Qiu, Aichao

    2017-01-01

    External regulation is an important mechanism to improve corporate behavior in emerging markets. China’s insurance governance regulation, which began to supervise and guide insurance corporate governance behavior in 2006, has experienced a complex process of reform. This study tested our hypotheses with a sample of 85 firms during 2010–2011, which was obtained by providing a questionnaire to all of China’s shareholding insurance companies. The empirical study results generally show that China’s insurance governance effectiveness has significantly improved through strict regulation. Insurance corporate governance can improve business acumen and risk-control ability, but no significant evidence was found to prove its influence on profitability, as a result of focusing less attention on governance than on management. State ownership is associated with higher corporate governance effectiveness than non-state ownership. Listed companies tend to outperform non-listed firms, and life insurance corporate governance is more effective than that of property insurers. This study not only contributes to the comprehensive understanding of corporate governance effectiveness but also to the literature by highlighting the effect of corporate governance regulation in China’s insurance industry and other emerging economies of the financial sector. PMID:29039781

  12. China’s Insurance Regulatory Reform, Corporate Governance Behavior and Insurers’ Governance Effectiveness

    Directory of Open Access Journals (Sweden)

    Huicong Li

    2017-10-01

    Full Text Available External regulation is an important mechanism to improve corporate behavior in emerging markets. China’s insurance governance regulation, which began to supervise and guide insurance corporate governance behavior in 2006, has experienced a complex process of reform. This study tested our hypotheses with a sample of 85 firms during 2010–2011, which was obtained by providing a questionnaire to all of China’s shareholding insurance companies. The empirical study results generally show that China’s insurance governance effectiveness has significantly improved through strict regulation. Insurance corporate governance can improve business acumen and risk-control ability, but no significant evidence was found to prove its influence on profitability, as a result of focusing less attention on governance than on management. State ownership is associated with higher corporate governance effectiveness than non-state ownership. Listed companies tend to outperform non-listed firms, and life insurance corporate governance is more effective than that of property insurers. This study not only contributes to the comprehensive understanding of corporate governance effectiveness but also to the literature by highlighting the effect of corporate governance regulation in China’s insurance industry and other emerging economies of the financial sector.

  13. Hog Producers' Risk Management Attitudes and Desire for Additional Risk Management Education

    OpenAIRE

    Patrick, George F.; Peiter, Amy J.; Knight, Thomas O.; Coble, Keith H.; Baquet, Alan E.

    2007-01-01

    Hog producers in Indiana and Nebraska were surveyed about sources of risk, effectiveness of risk management strategies, and prior participation in and desire for additional risk management education. Ownership of hogs by the producer, size of the operation, and age did have significant effects on ratings of both sources of risk and effectiveness of risk management strategies. Probit analysis found age, prior attendance, knowledge and prior use of the tool, level of integration, and concern ab...

  14. A CASE OF CORPORATE DECEIT: THE ENRON WAY

    Directory of Open Access Journals (Sweden)

    Amol Gore

    2011-04-01

    Full Text Available This case documents the evolution of ‘fraud culture’ at Enron Corporation and vividly explicates the downfall of this giant organization that has become a synonym for corporate deceit. The objectives of this case are to illustrate the impact of culture on established, rational management control procedures and emphasize the importance of resolute moral leadership as a crucial qualification for board membership in corporations that shape the society and affect the lives of millions of people. The data collection for this case has  included various sources such as key electronic databases as well as secondary data available in the public domain. The case is prepared as an academic or teaching purpose case study that can be utilized to demonstrate the manner in which corruption creeps into an ambitious organization and paralyses the proven management control systems. Since the topic of corporate practices and fraud management is inherently interdisciplinary, the case would benefit candidates of many courses including Operations Management, Strategic Management, Accounting, Business Ethics and Corporate Law. In order to enhance the academic value, the in-class discussions could be initiated by elucidating the effects of mass unethical behaviour and conceptualisation of the management morality principles, delving into the implications for  managers.

  15. Influence of management style on employee views of corporate reputation. Application to audit firms

    Directory of Open Access Journals (Sweden)

    Isabel Olmedo-Cifuentes

    2014-10-01

    Full Text Available In the current economic context where the behaviour of firms is carefully examined by the markets, the corporate reputation which is generated by organisations among their stakeholders may facilitate their success. Since employees are actively involved in its shaping and influence the overall perception of the firm's corporate reputation, the aim of this research is to improve the management of the employee views of reputation in order to increase its global evaluation. To do this, we analyse whether the existence of a characteristic management style influences the employee views of reputation, studying the effect of control variables such as employee age, gender, level of education or job position. Using a sample of 148 employees of Spanish accounting audit firms, we develop a specific tool for measuring the reputation from the employee perspective of service SMEs, as well as confirming that a strong participative management style promotes a better perception of reputation by employees than a competitive style. Hence, this study reflects that men prefer a competitive management style. Also, a high level of education along with job position has a positive impact on the preference of a participative style with the job position being the main moderating variable of the proposed model.

  16. AN EMPIRICAL EXPLORATION OF CORPORATE ENTREPRENEURIAL ORIENTATION IN BIHOR COUNTY ROMANIA

    Directory of Open Access Journals (Sweden)

    Bucurean Mirela

    2014-12-01

    Full Text Available According to Schumpeter (1934 an entrepreneur is an individual who innovates and creates new combinations. Today entrepreneurship refers to a process of opportunity recognition and pursuit that leads to growth. It assumes an opportunistic approach to opportunities. It bears risks and it is associated with innovation’ (Hsu et al., 2011. Last two decades have witness the birth of entrepreneurship at organizational level or corporate entrepreneurship (Sciascia and Bettinelli, 2013. Greblikaite and Krisciunas (2012 have identifies the main features that compound the modern entrepreneurship in an enterprise. According to them corporate entrepreneurship has four main components: (a economic activity, (b managerial activity, (c social – cohesion activity and (d technological and environmental activity. As an economic activity corporate entrepreneurship assumes the framework of the resource – based and transaction – costs theories, focusing on eliminating transaction costs within existing constraints in order to maximize profitability (Antoncic and Prodan, 2008. Striving for profitability, effectiveness, competitiveness, risks management, value and jobs creation are several indicators measuring the construct named economic activity (Greblikaite and Krisciunas, 2012. A second construct underlines that corporate entrepreneurship has a managerial dimension. Consequently entrepreneurs must focus on innovation, knowledge creation, team work and networking. With the advent of the new EU social cohesion policy, corporate entrepreneurship is characterized by responsiveness to different shareholders, including the society and by friendliness to problematic social groups’ (Greblikaite and Krisciunas, 2012, p. 527. Finally appliance of technological and scientific research and focusing on renewable resources are the indicators of a forth component of corporate entrepreneurship, named Technological and Environmental activity. Synthetizing, the literature

  17. Corporate Reputation Management: Reaching Out to Financial Stakeholders

    NARCIS (Netherlands)

    Y. Wang (Yijing)

    2013-01-01

    textabstractCorporate reputation is important for firms’ long-term performance and competitive advantages. This dissertation sets out to understand the relationship between corporate reputation and a company’s attractiveness to financial stakeholders from different angles. Specifically, I examine

  18. Beyond takeovers: politics comes to corporate control.

    Science.gov (United States)

    Pound, J

    1992-01-01

    In the 1990s, politics will replace takeovers as the defining tool for corporate governance challenges, and a marketplace of ideas will replace the frenzied activity that once dominated the financial marketplace in the 1980s. In the transaction-driven market of the past, corporate raiders used junk bonds and other financial tools to take control of their targets. In the new marketplace of ideas, debate will replace debt as active shareholders press specific operating policies for their target corporations in a new politicized market for corporate control. John Pound, associate professor of public policy at the John F. Kennedy School of Government at Harvard, reports that investors are already using shadow management committees, independent director slates, and outside experts to influence management policy. Pound cites Carl Icahn's battle for control of USX as an example of the emerging trend. What began as a hostile takeover ended with a negotiated solution in which many constituencies ultimately played a role in the restructuring of the company. This political approach to governance gives management a chance to embrace a bargain that is in its long-term interest. By promoting politically based tactics, managers can generate political capital with their major investors. Managers in companies as diverse as Avon and Lockheed now meet regularly with investors, seeking their input on both financial and strategic decisions. In the new politicized market for corporate control, striking a bargain with long-term investors is ultimately in the best interest of the corporation.

  19. Specific risk factors and macroeconomic factor on profitability performance an empirical evidence of Top Glove Corporation Bhd

    OpenAIRE

    Loh, Choon Zhee

    2017-01-01

    The purpose of this study to conducted the overall performance of Top Glove Corporation with specific risk factors and macroeconomic factor on profitability performance. The data acquired from annual report of Top Glove Corporation starting from the year of 2011 until 2015. The measurement of liquidity ratio and operating ratio used to see the overall performance of Top Glove in 5 years which allegedly beyond benchmark. The additional measurement is the asset size, this variable has a negativ...

  20. Certification and risk management

    International Nuclear Information System (INIS)

    Villanueva Fernandez, M.

    2015-01-01

    Nowadays more organizations are increasingly aware of the importance of properly managing the uncertainty of its activities and build competitive advantages through the identification, assessment and management of risks that they face. Risk management is also an aspect of great importance within the new version of ISO fact it is one of the most innovative and also the most laborious, because an appropriate risk management achieves expected results and customer satisfaction. In conclusion, risk management is a new field of business and can be considered a cross-cutting component for other relevant factors of organizational change management. (Author)