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Article
Publication date: 1 April 2006

R.D. de Swardt and R. Oberholzer

E‐commerce has changed the way in which business is conducted. One instance of this is that it has made the digitisation of products possible. This shift has severe…

Abstract

E‐commerce has changed the way in which business is conducted. One instance of this is that it has made the digitisation of products possible. This shift has severe implications for traditional consumption taxes, which were developed under the premise of a physical presence in a tax jurisdiction. A large number of countries in the world that impose Value‐Added Tax (VAT) on the supply of goods and services, including South Africa, are affected by this shift. The Organisation for Economic Cooperation and Development (OECD) has suggested a number of principles that should apply to consumption taxes in e‐commerce. These principles are intended to provide fiscal climates in which e‐commerce can flourish and ensure taxation systems that secure individual countries’ tax bases. A comparison between the OECD principles and the rules pertaining to the imposition of VAT in South Africa on the supply of digitised products reveals several discrepancies and uncertainties. A baseline survey among VAT specialists in South Africa, conducted in order to substantiate these findings, confirmed these discrepancies and uncertainties in practice.

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Meditari Accountancy Research, vol. 14 no. 1
Type: Research Article
ISSN: 1022-2529

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

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Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Book part
Publication date: 1 December 2009

Carlos Henrique Kitagawa, Maisa de Souza Ribeiro and Paula Carolina Ciampaglia Nardi

Purpose of article – Board of Directors are characterized as essential elements in the structure of corporate governance. Hence, this study aimed at identifying the…

Abstract

Purpose of article – Board of Directors are characterized as essential elements in the structure of corporate governance. Hence, this study aimed at identifying the governance practices of Latin-American companies in relation to the fifth principle – “Responsibilities of the Board” – recommended by the Organization for Economic Cooperation and Development (OECD) for this region (Brazil, Argentina, Mexico, and Chile).

Design/methodology/approach – To that end, the legislation and corporate practices of companies in the four countries were studied so as to identify legal provisions on the subject and additional procedures adopted by such companies comparatively to OECD recommendations.

Findings – The results showed that Mexico was the country with the highest level of full compliance with OECD recommendations, followed by Argentina, Brazil, and lastly by Chile. They also showed that a lot of improvement still needs to be made so as to ensure the responsibilities of the board in terms of integrity, efficacy remuneration dissemination, and technical competence.

Research limitations/implications – This study was restricted to only four countries in Latin America: Brazil, Argentina, Mexico, and Chile. This procedure is justifiable by the fact that OECD designed its recommendations based on these four countries. It is also important to point out that this study has focused only on Principle V of OECD (2004), concerning the Responsibilities of the Board of Directors.

Originality/Value of article – This study is justified by the need to understand and disseminate Latin-American practices in face of the region-specific governance recommendations designed by OECD, notably on the behavior of the Board of Directors. This region has developing countries with an active stock market. The region presents great potential for economic development, hence the need for these types of studies.

Details

Accounting in Emerging Economies
Type: Book
ISBN: 978-1-84950-626-7

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Article
Publication date: 7 August 2017

Mirgul Nizaeva and Ali Uyar

The purpose of this paper is to comparatively analyze the corporate governance codes of transition economies, particularly five Eurasian Economic Union (EAEU) members…

Abstract

Purpose

The purpose of this paper is to comparatively analyze the corporate governance codes of transition economies, particularly five Eurasian Economic Union (EAEU) members (i.e. Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia). Specifically, the convergence or divergence of these countries’ corporate governance codes among themselves as well as relative to the best practices of the UK Corporate Governance Code (UK Code) and the OECD Principles of Corporate Governance are investigated.

Design/methodology/approach

Initially, the existing literature on corporate governance with special focus on transition countries is reviewed. Afterwards, benchmarking the international best practices, based on main chapters and contents, the corporate governance codes of all countries in the sample are analyzed.

Findings

The paper finds that even though some principles of the corporate governance codes of the countries in the sample differ in some aspects, they do converge to some extent. However, high misalignments between the UK Code and the OECD Principles and the codes of selected countries in some aspects were found.

Research limitations/implications

The conclusion and implications of the study characterize the corporate governance of selected developing countries; thus, they might not be generalizable to other countries.

Practical implications

The codes of the countries in the sample should be revised, and more specifications regarding the stakeholder, board structure, its subcommittees, independence, diversity and transparency issues need to be addressed.

Originality/value

The paper comprehensively analyzes the contents of corporate governance codes of transition countries; from both practical and academic point of view, it was important gap that needed to be fulfilled.

Details

Corporate Governance: The International Journal of Business in Society, vol. 17 no. 4
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 16 October 2007

Themistokles Lazarides

The goal of the paper is to detect any gaps in the legislator's and practitioner's approaches in information systems design and implementation and to evaluate their impact…

Abstract

Purpose

The goal of the paper is to detect any gaps in the legislator's and practitioner's approaches in information systems design and implementation and to evaluate their impact on an organizational and managerial level.

Design/methodology/approach

Basic information system requirements are presented for compliance with the Sarbanes‐Oxley Act. These requirements are compared with the provisions made by the vendors (like SAP, Microsoft, etc.) to address the issues raised by the legislators and the OECD's corporate governance principles and guidelines to provide a holistic approach to the problem of corporate governance system alignment.

Findings

The questions raised by the author are: did the legislators encapsulate the real essence of the OECD principles and did the ES designers manage to fully cover the letter and the spirit of the law or find a legalist‐normative solution to the problem of compliance (not alignment) with the laws and principles leading to a deviation from the original principles? It is shown that the latter is the case in a number of systems or modules designed to address the issue.

Practical implications

Practitioners, academics and developers‐vendors may alter their perspective of how an information system is placed within the context of the firm.

Originality/value

A new approach in designing information systems is needed in order to comply with the new legal‐regulatory framework and market needs.

Details

Information Management & Computer Security, vol. 15 no. 5
Type: Research Article
ISSN: 0968-5227

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Article
Publication date: 1 June 2009

Maria Bhatti and Ishaq Bhatti

This paper is an attempt to present legal issues of Islamic corporate governance (ICG) in the presence of global financial crises. It presents ICG model and discusses its…

Abstract

This paper is an attempt to present legal issues of Islamic corporate governance (ICG) in the presence of global financial crises. It presents ICG model and discusses its viability in today’s corporate structure. The model is based on institution of Hisbah which demands book keeping, disclosure, transparency based on Shariah principles of Islamic Finance Ethics.

Details

Journal of Economic and Administrative Sciences, vol. 25 no. 1
Type: Research Article
ISSN: 1026-4116

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Article
Publication date: 19 September 2019

Aws AlHares

This article aims to investigate the impact of corporate governance (CG) mechanisms on cost of capital (COC) in Organisation for Economic Co-operation and Development (OECD

Abstract

Purpose

This article aims to investigate the impact of corporate governance (CG) mechanisms on cost of capital (COC) in Organisation for Economic Co-operation and Development (OECD) countries.

Design/methodology/approach

Companies from 34 OECD countries were used between 2010 and 2017. Multiple regression analysis techniques is used to examine the relationships. The findings are robust to alternative measures and endogeneities.

Findings

The results show that CG index and director ownership are statistically negatively related to COC. In contrast, the results show that block ownership is statistically related to COC.

Originality/value

This study extends, as well as contributes to the extant CG literature by offering new evidence on the effect of CG mechanisms on COC. The findings will help regulators and policymakers in the OECD countries in evaluating the adequacy of the current CG reforms to prevent management misconduct and scandals.

Details

International Journal of Ethics and Systems, vol. 35 no. 4
Type: Research Article
ISSN: 2514-9369

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Article
Publication date: 17 August 2018

Shigufta Hena Uzma

This paper aims to study from three perspectives: the developed countries corporate governance (CG) practices, the role of OECD in the global convergence of CG standards…

Abstract

Purpose

This paper aims to study from three perspectives: the developed countries corporate governance (CG) practices, the role of OECD in the global convergence of CG standards and India as an emerging country.

Design/methodology/approach

The paper reviews the various CG codes and regulations enacted in the Indian paradigm with special reference to the Indian Companies Act 2013 (cited as Act 2013).

Findings

The Act 2013 endeavours to provide a governance landscape in India with reforms. The new CG codes comprehensively introduce more accountability, transparency and stringent disclosure requirements. However, these changes are affected by the ownership structure, the level of enforcement and regulatory compliance of CG disclosure practices imposed on companies.

Research limitations/implications

Further research can be carried out in three domains in emerging countries: ownership structure, the effect of legal and regulatory environment and impact of mandatory compliance.

Practical implications

Legal and regulatory environment are notable extent that can effectively govern the CG codes. An increase in the board size, investor protection and gender diversity, with strong governance structure, can enhance the transparency of companies.

Originality/value

The paper examines the prominence of CG norms with the ratification of the Indian Companies Act 2013, which is analogous with global CG policies and regulations.

Details

Qualitative Research in Financial Markets, vol. 10 no. 3
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 28 January 2020

Aws AlHares

The purpose of this study is to investigate the impact of corporate governance mechanisms on the cost of capital in Organisation for Economic Co-operation and Development …

Abstract

Purpose

The purpose of this study is to investigate the impact of corporate governance mechanisms on the cost of capital in Organisation for Economic Co-operation and Development (OECD) countries.

Design/methodology/approach

A panel data of 240 companies from Anglo-American and European countries between 2010 and 2017 were used. The ordinary least-squares multiple regression analysis was used to examine the relationships. The results were also robust to alternative measures and endogeneities.

Findings

The results showed that the corporate governance index and director ownership were negatively related to the cost of capital. Moreover, the study also reports a positive correlation between block ownership and the cost of capital.

Originality/value

This study extended the corporate governance literature by offering new evidence on the effect of corporate governance mechanisms on the cost of capital. Our findings will help regulators and policymakers in the OECD countries to evaluate the adequacy of the current corporate governance reforms to prevent management misconduct and scandals.

Details

International Journal of Accounting & Information Management, vol. 28 no. 1
Type: Research Article
ISSN: 1834-7649

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Book part
Publication date: 11 August 2016

Edmundo R. Lizarzaburu, Luis Berggrun and Kurt Burneo

Companies are wishing to incorporate good corporate governance practices into their organization in order to be more attractive to investors, knowing whether this…

Abstract

Companies are wishing to incorporate good corporate governance practices into their organization in order to be more attractive to investors, knowing whether this influences their financial indicators and profitability or not. This, in fact, is beneficial for investors so they know that a company who applies the principles of corporate governance (CG) presents best management practices and transparent information, safeguarding the interests of all its stakeholders, which helps their investment decision; reducing market uncertainty, making it more efficient and liquid. The research focuses on the companies listed in the Stock Exchange of Lima that had implemented CG strategies in their organizations.

Details

The Spread of Financial Sophistication through Emerging Markets Worldwide
Type: Book
ISBN: 978-1-78635-155-5

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