Keywords : Corporate Governance

Family firms, expropriation and firm value: Evidence of the role of independent directors’ tenure in Malaysia

Chee Yoong Liew; Ervina Alfan; Susela Devi

International Journal of Organizational Leadership, Volume 6, Issue 1, Pages 42-64
DOI: 10.33844/ijol.2017.60195

This paper was conducted to examine whether there was a negative relationship between independent directors’ tenure and firm value which indicated the existence of expropriation due to long tenure of independent directors and whether controlling shareholders’ ownership moderated this relationship among Malaysian firms. The results revealed that there was a negative relationship between independent directors’ tenure and firm value. It also showed there was a significant positive moderating effect of controlling shareholders’ ownership on the relationship among Malaysian family firms in exclusive industries. However, there was inconclusive evidence that this negative relationship and positive moderating effect were stronger amongst the family firms compared with non-family firms.

Building and Maintaining an Effective Compliance Program

Ing. Lucie Andreisová

International Journal of Organizational Leadership, Volume 5, Issue 1, Pages 24-39
DOI: 10.33844/ijol.2016.60259

The ethics, corporate compliance and anti-fraud functions have faced a rapid growth in the last few years. Such a growth was explained as a kind of response to several high profile governance failures and subsequent regulatory reforms. Organizations throughout the whole world are now making huge investments in compliance, ethics and fraud prevention, launching their compliance programs, building risk management systems, rolling out comprehensive mandatory trainings and communication plans, designing and distributing compliance standards and procedures, and engaging their employees through so called tone from the top. This trend has touched companies from various industries and markets even from those that are traditionally receiving less regulatory attention. Nowadays, when most of the organizations have already established some basic level of compliance, anti-fraud, and ethics infrastructure, many of them begin to evaluate whether these are effective enough. This paper sets forth several ideas, tools, examples, and solutions tending to help and support the organizations in either building or preserving their effective compliance programs.

Cultural background of governance style and quality in Turkey: An introduction

Murat Ertugrul

International Journal of Organizational Leadership, Volume 4, Issue 4, Pages 484-492
DOI: 10.33844/ijol.2015.60325

Governance is a term that has gained popularity and has been used by academics and institutions such as UN, IMF and World Bank since 1990s. The term may be defined in a broad manner as "the processes of interaction and decision-making among the parties involved in a collective problem”. There are different governance perspectives for different aims. Corporate governance, for example, consists of the processes, customs, policies, laws, and institutions affecting the way people direct, administer or control a corporation. Corporate governance may play an important role especially for the developing countries. They need capital inflows that is affected by sound corporate governance considerably. Turkey is one of the most highlighted emerging economies. In practice, there are some shortcomings in corporate governance compliance in Turkey. In this study, it is aimed to go further than current literature done towards cultural and historical roots which has potentially big impact on the present understanding and compliance of corporate governance in Turkey. The main tool adopted for this aim is closing the gap between respectable studies on the cultural roots of economic understanding of Turkey and studies on corporate governance in Turkey. This paper is presented to share first impressions of this effort.