Is there any requirement for the optimal governance system in Taiwan? Without focusing on the pure relationship with variable and index, the study started from developing a model to explain the sample in Taiwan We try to simulate the corporate governance mechanisms from the idea of John and Kedia (2003). The three primary forces came from (1)aligning the manager¡¦s incentives with that of shareholders,(2) monitored debt, and (3) takeovers. In the model, we divided the sample of Taiwan listed company in 1996-2004 into four groups: Alignment-Based(AB),Pre-Commitment-Based(PB),Intervention-Based(IB) and Well-Divided(WD). From our observation, the ratio of IB company is arising, AB and PB are decreasing. Therefore, we infer that the external governance mechanisms are well developing in Taiwan, like external shareholder and takeover markets. Also, we established the transformative model of governance system in order to explain the index variation result from changing in governance system. Past study indicated that the governance systems in Taiwan are family-based systems. We found that the external and intervening mechanism, growing with the developing financial market, could be more powerful in corporate governance today.

This thesis examines how power is constituted in hybrid polycentric systems of security governance. In particular, the thesis explores how legitimacy - as one form of power - is configured in Improvement Districts in South Africa, with a specific focus on three ways by which it is gained: through promoting public participation in decision-making; through transparent and accountable policing nodes; and through the delivery of effective security for the public good. Polycentric systems of security governance are usually composed of a number of policing or security nodes that are independent of each other, but take account of each other in relationships of co-operation or conflict and where no single node dominates all the rest. In other words, some or all of these nodes, may co-ordinate around specific security problems or events in a sustained manner. The functioning of polycentric security governance was explored in Improvement Districts in Cape Town and Johannesburg, as they are an exemplar of polycentricity in the way that they operate. Qualitative field research was employed using a nodal analytical framework and a collective case study approach. In-depth interviewing, participant and direct observation as well as documentary analysis were the primary research methods employed. The findings of the research reveal that polycentricity impacts on legitimacy in a number of ways. Legitimacy may originate from multiple sources and state and non-state policing nodes within polycentric security governance systems may undermine, enhance and/or co-produce democratic participation, accountability and security for the public interest. There are a number of factors or conditions that shape whether polycentric systems of governance are legitimate and how they derive this legitimacy. The main finding of the thesis is that for a polycentric system to be aligned to the public interest, it needs to be motivated by public, peer and political expectations, amongst other things. The findings of the thesis both challenge the normative tendency to associate democratic legitimacy with the state and contribute to the pressing question of how to theoretically account for the empirical reality of polycentric security governance systems.

Yes / This study develops a 'comply or explain' index which captures compliance and quality of explanations given for non-compliance with the corporate governance codes in UK and Germany. In particular, we explain, how compliance and quality of explanations provided in non-compliance disclosures, and various other internal corporate governance mechanisms, affect the market valuation of firms in the two countries. A dynamic generalised method of moments (GMM) estimator is employed as the research technique for our analysis, which enabled us to control for the potential effects of endogeneity in our models. The findings of our content analysis suggest that firms exhibit significant differences in compliance, board independence and ownership structure in both countries. The 'comply or explain' index is positively associated with the market valuation of UK firms suggesting that compliance and quality governance disclosure is value relevant in the UK. Institutional blockholders' ownership is however, negatively associated with the market value of firms, which raises questions about the monitoring role of institutional shareholders in both countries. We argue that both compliance and explanations given for non-compliance are equally important, as long as valid reasons and justifications for non-compliance are provided by the reporting companies. These findings thus imply that the 'comply or explain' principle is working well and that UK and German companies could benefit from the flexibility offered by this principle. With respect to the role of board size, board independence, ownership structure, and institutional ownership of firms, this study offers policy implications.

The introduction of the 2002 King Report on Corporate Governance for South Africa has placed new emphasis on companies to attain higher and more consistent standards of governance. Based on widely recognised and supported governance frameworks it also inspired a rising expectation of accountability and transparency across every aspect of society and also other types of organisations. Through the establishment of the guidelines found in the King II Report the doors have been opened to sport and its various bodies to draw from the experience of corporations and to make use of some of these guidelines in the development of their own guidelines aimed at their own respective needs and purposes. The sports industry and especially its governing bodies need guidelines for proper governance due to the raised level of interest and impact of sport lately. As a result of the corporatisation of sport and increased professionalism, a greater need for proper business management and governance models within sport becomes apparent. The government has also placed renewed emphasis on the need for sport to become more professional in the manner in which it governs itself. If the sports industry cannot achieve this by means of proactive voluntary action and self-regulation, it runs the risk of legislative regulation, which threatens to undermine the sanctity of flexibility and self-regulation which has been central in the development of sport. This study presents a first attempt to determine the levels of non-adherence by national sports federations of South Africa to the principles of best practice governance, identified as the pillars of good governance. These principles are taken from the King II Report, and also the guidelines developed during the first Governance-in-Sport conference. This, a national study in which all South African national sports federations were approached and asked to participate, carries the support of Sport and Recreation South Africa as well as the South African Sports Commission. / Dissertation (MAdmin)--University of Pretoria, 2004. / gm2014 / School of Public Management and Administration / unrestricted