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Disertacijoje analizuojamos trys bendrovių valdymo reguliavimo problemos. Visų pirma Lietuvoje yra sąlyginai nedaug teismų praktikos, kuri analizuotų atskirų fiduciarinių pareigų turinį. Teisės reguliuojamiems subjektams (šiuo atveju bendrovių valdymo organų nariams) fiduciarinių pareigų turinys turi būti išaiškintas ex ante. Šiuo tikslu siūloma remtis Bendrovių valdymo kodeksu, kaip antriniu teisės šaltiniu. Kita analizuojama sritis yra valstybės valdomų įmonių valdymo klausimai. Valstybė Lietuvoje yra svarbi (stambi) komercinę veiklą vykdančių bendrovių akcininkė. Tačiau valstybės tarnautojai, kurie jai atstovauja, kaip akcininkei, neturi tiesioginės finansinės motyvacijos, kuri skatina privataus sektoriaus akcininkus. Galiausiai reguliuojamuose sektoriuose (pašto paslaugos, energetika, transportas) valstybė veikia tiek kaip sektoriaus reguliuotojas, tiek kaip finansinės naudos siekiantis akcininkas. Trečia analizuojame darbe sritis yra bendrovių valdymo organų narių atlyginimo nustatymo klausimai. Reaguodama į pasaulinę finansų krizę Europos Komisija priėmė rekomendacijas dėl bendrovių valdymo organų narių atlyginimų. Lietuvoje nebuvo problemos, kad valdymo organų narių atlyginimai yra pernelyg dideli ar skatinantys riziką (kas buvo aktualiausia Europos Komisijai). Tačiau Lietuvoje apskritai nėra jokių tradicijų ar praktikos skiriant atlyginimus ir problema yra ta, kad valdybos nariams atlyginimų bendrovės apskirtai nemoka (ar moka tik jo dalį), o atlyginimą moka konkretų... [toliau žr. visą tekstą] / The dissertation addresses three problems of corporate governance regulation. First of all, Lithuania lacks court practice which would analyse the content of different fiduciary duties. However the subjects regulated by law (in this case members of corporate management bodies) need to know the content of fiduciary duties ex ante. Therefore the author of this dissertation proposes to rely on the Corporate governance code as the secondary source of law. The corporate governance of the State owned enterprise is another area which is analysed. The State is an important shareholder of the entities rendering commercial activities in Lithuania. However the State servants that represent the State as the shareholder do not have direct financial motivation similar to that of the private sector shareholders. Further the State acts both as a regulator and as a shareholder seeking for financial results in regulated sectors (postal services, energy and transportation). The third field examined by the author is the regulation of managerial pay. Reacting to the global financial crisis the European Commission has adopted recommendations on managerial pay. Lithuania did not face problems that the managerial pay is excessive or risk promoting (which was the relevant issue for the European Commission). However Lithuania does not have any traditions on setting managerial pay and the problem is that the members of the board do not receive any salary (or receive only part of the salary) from the... [to full text]

Disertacijoje analizuojamos trys bendrovių valdymo reguliavimo problemos. Visų pirma Lietuvoje yra sąlyginai nedaug teismų praktikos, kuri analizuotų atskirų fiduciarinių pareigų turinį. Teisės reguliuojamiems subjektams (šiuo atveju bendrovių valdymo organų nariams) fiduciarinių pareigų turinys turi būti išaiškintas ex ante. Šiuo tikslu siūloma remtis Bendrovių valdymo kodeksu, kaip antriniu teisės šaltiniu. Kita analizuojama sritis yra valstybės valdomų įmonių valdymo klausimai. Valstybė Lietuvoje yra svarbi (stambi) komercinę veiklą vykdančių bendrovių akcininkė. Tačiau valstybės tarnautojai, kurie jai atstovauja, kaip akcininkei, neturi tiesioginės finansinės motyvacijos, kuri skatina privataus sektoriaus akcininkus. Galiausiai reguliuojamuose sektoriuose (pašto paslaugos, energetika, transportas) valstybė veikia tiek kaip sektoriaus reguliuotojas, tiek kaip finansinės naudos siekiantis akcininkas. Trečia analizuojame darbe sritis yra bendrovių valdymo organų narių atlyginimo nustatymo klausimai. Reaguodama į pasaulinę finansų krizę Europos Komisija priėmė rekomendacijas dėl bendrovių valdymo organų narių atlyginimų. Lietuvoje nebuvo problemos, kad valdymo organų narių atlyginimai yra pernelyg dideli ar skatinantys riziką (kas buvo aktualiausia Europos Komisijai). Tačiau Lietuvoje apskritai nėra jokių tradicijų ar praktikos skiriant atlyginimus ir problema yra ta, kad valdybos nariams atlyginimų bendrovės apskirtai nemoka (ar moka tik jo dalį), o atlyginimą moka konkretų... [toliau žr. visą tekstą] / The dissertation addresses three problems of corporate governance regulation. First of all, Lithuania lacks court practice which would analyse the content of different fiduciary duties. However the subjects regulated by law (in this case members of corporate management bodies) need to know the content of fiduciary duties ex ante. Therefore the author of this dissertation proposes to rely on the Corporate governance code as the secondary source of law. The corporate governance of the State owned enterprise is another area which is analysed. The State is an important shareholder of the entities rendering commercial activities in Lithuania. However the State servants that represent the State as the shareholder do not have direct financial motivation similar to that of the private sector shareholders. Further the State acts both as a regulator and as a shareholder seeking for financial results in regulated sectors (postal services, energy and transportation). The third field examined by the author is the regulation of managerial pay. Reacting to the global financial crisis the European Commission has adopted recommendations on managerial pay. Lithuania did not face problems that the managerial pay is excessive or risk promoting (which was the relevant issue for the European Commission). However Lithuania does not have any traditions on setting managerial pay and the problem is that the members of the board do not receive any salary (or receive only part of the salary) from the... [to full text]

The primary purpose of this study is concerned with providing improved understanding of both accounting and management systems through the use of case study based research. To provide this improved understanding, this research study is based upon several key assumptions which are also key conclusions. Firstly, that management and accounting systems and practices exist in organisation contexts. Secondly, that these systems and practices obtain their meaning, in part, from the organisation contexts in which they are situated. Thirdly, that accounting knowledge and management theory, to-date, has failed to provide adequate descriptions and prescriptions for the organisations. Fourthly, that the key problem in accounting knowledge and management theory which has prevented adequate understanding is to do with the ontological issues which underlies such knowledge. The contents of this study can be seen to be divided into three parts. The first outlines the nature of management accounting knowledge paying particular attention to the ontological and epistemological assumptions. Through analysis of these assumptions, the importance of understanding the complexity of social reality is introduced. A model of a 'temporal-spatial' reality is introduced and described. The conclusion from this part is that the main problem in understanding accounting practices is linked with the ontological issues and that a more complex subjective reality needs to be explored. Part two provides the description of the case-study utilised to understand accounting practices in an organisational context. Part three provides an analysis of the use of the management and accounting systems by providing an understanding of the social-reality of the dominant decision-makers within the case-study. The conclusion forthcoming from this study is four-fold and stated in paragraph one. However, these have major considerations to the development of accounting knowledge and require major shifts in the dominant methodology of accounting thought. ix.

The animated film in Canada has come of age and may be regarded as a distinct genre in Canadian cinema. Animated films produced in Canada can now be ranked with the works of other artists, including docudrama films. In this study, we show that, during their formative periods, Canadian authors of animated films shared a number of preoccupations with their fellow Quebec literary and pictorial artists, and cinematographers, the most important of which was a commitment to social protest. / This study is a detailed analysis of some 250 short animated films produced at the National Film Board between 1950 and 1984. In their choice of themes, frequent didactic stance and experiments with image and sound, almost all animated film creators are seen to be engaged in questioning the status quo and/or calling for social and political change. Their films might be best characterized as exploratory, informative and persuasive. The analysis permits us to further classify the films as contributions made by Canadian men or women, English- or French-speaking animators, and foreign guests. / In this study we have paid particular attention to the historical, esthetic and socio-cultural influences on the development of the contemporary animated film in Quebec during the different stages of its evolution.

This thesis examines the empirical relationship between a set of board characteristics (i.e. independence, diligence and expertise), audit committee (existence, characteristics and status within the board), and audit fees in a sample of Nasdaq OMX Stockholm-listed companies. The author investigates the relationship using a sample of 187 company-year observations for year 2011. Through multivariate regression analysis, the author found that more independent boards are associated with lower audit fees, while more expert boards and audit committee existence are associated with higher audit fees at the conventional levels. Results as such suggest that board independence, expertise and audit committee existence can influence the demand for audit coverage. Through further analyzing a subsample of 116 companies with audit committees, the author additionally found that more audit committee meetings are associated with higher audit fees, while wholly independent audit committees and an increase in the relative size of audit committee to nomination committee are associated with lower audit fees at the conventional levels. These findings are supportive for the Swedish regulatory requirement of adopting audit committees in the Nasdaq OMX Stockholm-listed companies effective from 2009 and have implications for enhancing board- and audit committee effectiveness in the Swedish listed companies.

This research uses a grounded theory approach to explore the term ‘experienced Board Member’ with research into the learning experiences which bridge the gap between an inexperienced Board Member and an experienced Board Member. The purpose of this research is to identify repeatable/reportable patterns which could be utilised and developed to improve Board Member learning. Data is derived from interviews with nine (current and past) New Zealand Board Members. A common set of attributes of an experienced Board Member emerged from the study. The linking theme of the attributes is that they support the process of reaching a quality agreement or decision. The results of this study suggest that an experienced Board Member is perceived to be a Board Member who contributes to achieving a quality agreement and decision, using attributes associated with: • Contribution to Board processes • Understanding and Knowledge (governance and business acumen) • Internal Drivers • Making Hard Decisions. Formative Board Member learning is associated with developing self confidence, understanding what content is perceived to be (or not to be) relevant, understanding the Boardroom protocols and processes, and understanding the responsibility of the role. The primary mechanism in Board Member learning is observation. Board Member learning was most often the development of tacit understanding through observing events internal to the Board. Learning events for Board Members are likely to arise as part of the dismissal/departure of the CEO or from internal Board dissension. The results also indicate that current NZ Board Members are unlikely to have had any formal preparation for the Board Member role, and learning for the role is likely to be ad-hoc and vicarious. This research suggests that the successful development of experienced Board Members will require a fundamental change in the perception and practice of Board Member development within organisations and at Board level. A Capability and Maturity Model is presented as a framework for assessing an organisation’s capability and maturity in terms of the development of its Board Members. This study builds on corporate governance theory by identifying attributes considered indicative of an experienced Board Member. This study adds to Learning Organisation and Knowledge theories by providing examples and comment on the place of Communities of Practice, and knowledge development within the development of Board Member experience.

This research uses a grounded theory approach to explore the term ‘experienced Board Member’ with research into the learning experiences which bridge the gap between an inexperienced Board Member and an experienced Board Member. The purpose of this research is to identify repeatable/reportable patterns which could be utilised and developed to improve Board Member learning. Data is derived from interviews with nine (current and past) New Zealand Board Members. A common set of attributes of an experienced Board Member emerged from the study. The linking theme of the attributes is that they support the process of reaching a quality agreement or decision. The results of this study suggest that an experienced Board Member is perceived to be a Board Member who contributes to achieving a quality agreement and decision, using attributes associated with: • Contribution to Board processes • Understanding and Knowledge (governance and business acumen) • Internal Drivers • Making Hard Decisions. Formative Board Member learning is associated with developing self confidence, understanding what content is perceived to be (or not to be) relevant, understanding the Boardroom protocols and processes, and understanding the responsibility of the role. The primary mechanism in Board Member learning is observation. Board Member learning was most often the development of tacit understanding through observing events internal to the Board. Learning events for Board Members are likely to arise as part of the dismissal/departure of the CEO or from internal Board dissension. The results also indicate that current NZ Board Members are unlikely to have had any formal preparation for the Board Member role, and learning for the role is likely to be ad-hoc and vicarious. This research suggests that the successful development of experienced Board Members will require a fundamental change in the perception and practice of Board Member development within organisations and at Board level. A Capability and Maturity Model is presented as a framework for assessing an organisation’s capability and maturity in terms of the development of its Board Members. This study builds on corporate governance theory by identifying attributes considered indicative of an experienced Board Member. This study adds to Learning Organisation and Knowledge theories by providing examples and comment on the place of Communities of Practice, and knowledge development within the development of Board Member experience.

Zugl.: Münster (Westfalen), Univ., Diss., 2006