This study investigates the effects of corporate monitoring mechanisms on firm performance and their substitution and complementary effects under different conditions of agency conflict. / Thesis (PhD)--University of South Australia, 2008

The East Asian financial crisis and the failures of Enron and Worldcom in the United States of America have put corporate governance and risk management in the forefront of the corporate scenes. McKinsey's global investor opinion survey on corporate governance carried out in 2000 indicated that majority of investors were prepared to pay a premium for companies exhibiting high governance standards. Central to corporate governance is risk management as can be seen from the various codes on corporate governance, namely, Malaysian Code on Corporate Governance and the United Kingdom's Combined Code on Corporate Governance. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2005.

The financial /economic crisis in 1997 brought to the foreground weak corporate governance structures and practices in Malaysia. Allegations of cronyism, inequitable transaction, lack of transparency and weak enforcement were amongst the many weaknesses highlighted. These led to the poor perception of the Malaysian capital market. Malaysia joined in the global corporate governance reform movement and corporate governance reforms were carried out to rectify the weaknesses highlighted. The Malaysian Code on Corporate Governance (Malaysian Code) was launched in 2000. This study briefly traced the corporate governance reforms in Malaysia which was very much influenced by the Anglo-American model. / To provide a better appreciation of the corporate governance mechanism, this study examined the concept of corporate governance and its origin, the existence of the four governance models in the world today and the different market characteristics with their different institutional and corporate context. / The thrust of the corporate governance reform movement in Malaysia was to increase transparency and corporate disclosure, improve accountability and responsibility of the board and to promote shareholder activism. One of the key recommendations from the Anglo-American model adopted by the Malaysian Code, to improve transparency and accountability, was to have a sufficient number of independent non-executive directors on the board. Arguments that supported the importance and the roles of independent non-executive directors as a control mechanism and their contribution towards better governance and financial performance were presented. The study also discussed the equally strong arguments and evidence against independent non-executive directors as an effective control mechanism. / Another key player identified by the Malaysian Code to enhance good corporate conduct was the company secretary. This study examined the roles that these independent non-executive directors and company secretaries were expected to play in the Malaysian context and the issues related to these two key players as internal enforcers for good governance practices. / Though these two players were expected to play key roles in enhancing good corporate conduct in the corporate governance reforms in Malaysia, as far as is known, their perspectives have not been widely researched or compiled in the Malaysian context. This study aimed to provide some insights into the views and opinions of these two important groups of people. A sample of independent non-executive directors and company secretaries were selected for interviews with the aid of two different sets of standard questionnaires, one for each group. The questionnaires were designed to seek their response on a few key issues on corporate governance practices in Malaysia. Their standpoints were compiled, quoted and presented in this study. Both groups have been found to agree that independent non-executive directors have a role to play and are important to enhance good corporate conduct. Factors that contributed or inhibited their effectiveness were discussed and the divergent views on certain issues within each group or between the two groups were presented. Their views on how corporate governance practices can be further improved in Malaysia were also presented. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2005.

University of Technology, Sydney. Faculty of Business. / Recent regulatory changes in developed economies have sought to apply uniform standards for corporate governance following a series of high profile corporate collapses between 2000 and 2002. The various regulatory responses raised questions in the governance literature on the appropriateness of a “one size fits all” approach. However, empirical outcomes in this literature do not provide a consistent picture on how, or even whether, governance choices vary with firm characteristics. This thesis addresses the lack in empirical direction by investigating the discriminatory power of a fundamental firm variable, the price-to-book ratio (P/B), that is often applied in Australian and other studies to predict governance outcomes. It evaluates how a joint price-to-book, price-to- earnings, firm classification (P/B, P/E) captures variations in governance choices by Australian firms and compares the results with those using a conventional P/B classification. Choices for two key mechanisms – the level of independence of the board of directors and the quality of its external auditors, are examined as they feature prominently in regulatory reforms. The results show that a joint P/B, P/E classification captures significant differences in the use of both mechanisms confirming that governance frameworks vary with firm characteristics. Consistent with expectations, these differences are recorded for board independence within high and within low P/B firms. Significant variations are also identified in the choice of auditor quality within both P/B classes of firms. By enabling a more parsimonious analysis of firm characteristics through the joint P/B, P/E framework, these results enhance our understanding of the choice of independent directors and high quality auditors. They also lend support to the general proposition that a “one size fits all” governance framework could lead to unnecessary costs for firms as they seek optimal governance arrangements that suit their specific information environments.

This study investigates the effects of corporate monitoring mechanisms on firm performance and their substitution and complementary effects under different conditions of agency conflict. / Thesis (PhD)--University of South Australia, 2008

This study investigates the effects of corporate monitoring mechanisms on firm performance and their substitution and complementary effects under different conditions of agency conflict. / Thesis (PhD)--University of South Australia, 2008

The primary objective of this dissertation is to examine the role of corporate governance in the performance of publicly listed corporations. The normative research suggests that stronger corporate governance should lead to better market performance and a firm’s governance practice should have a positive effect on its market value. This research focuses on Chinese capital markets because of their unique characteristics with respect to elements of corporate governance.

Thesis (Ph.D.)--Hong Kong Baptist University, 2007. / Adviser: Zhijun Lin. Includes bibliographical references.

Thesis (Ph. D.)--Washington State University, December 2007. / Includes bibliographical references (p. 119-148).

Zugl.: Potsdam, Univ., Diss., 2005