Forthcoming and Online First Articles

International Journal of Corporate Governance

International Journal of Corporate Governance (IJCG)

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International Journal of Corporate Governance (5 papers in press)

Regular Issues

  • Determinants of board roles in the banking sector - Bangladesh perspective   Order a copy of this article
    by Mohammad Tazul Islam, Mohammed Mohi Uddin 
    Abstract: The study examines the determinants of board roles (BR) in the banking sector from a developing country - Bangladesh perspective. A measurement instrument is designed based on a comprehensive literature review. Board qualification (BQ), board composition (BC), board independence (BI), governance regulations (GR), and board conflict of interest (BCOI) have been used as determinants for BR. Nineteen latent variables of six constructs have been extracted using factor analysis. The study analyses 728 questionnaire survey responses by using the structural equation modelling (SEM) and finds that BQ, BC, BI, and GR are statistically significant and positively affect BR which indicates these determinants help improve the effectiveness of bank boards. Most importantly, the study finds that BCOI is negatively significant and adversely affects BR and organisational performance (OP) directly and indirectly. This study demonstrates that BCOI is a significant determinant of BR and bank performance in the banking sector of Bangladesh.
    Keywords: board roles; BR; determinants of board roles; corporate governance; conflict of interest; COI; developing country; Bangladesh.
    DOI: 10.1504/IJCG.2022.10053053
     
  • Do interlocking directorates influence corporate diversification strategies? Evidence from Indian firms   Order a copy of this article
    by Deepali Dhingra, Neeraj Dwivedi 
    Abstract: Whether or not to diversify is one of the crucial decisions a board makes. This decision is heavily dependent on the composition of the board. Interlocking directorships on corporate boards are well-known to affect how the boards work. Board interlocks literature has attracted the attention of many researchers working towards board composition, and a positive impact of interlocks on firm performance is noticed. This study examines the role of board interlocks in the choice to diversify a company's portfolio. We hypothesise that boards with interlocking directors possess access to latent market information via networking, influencing the degree of corporate diversification. The paper further explores if this relationship is moderated by the interlocked directors' experience and the business group affiliation of the interlocking firms. A composite measure comprising product and geographical diversification is used to measure corporate diversification. The paper finds a significant positive association between interlocked boards and corporate diversification based on a sample of 376 Indian firms listed on the national stock exchange (NSE). Further, it is found that this relationship is positively moderated by the experience level of the interlocked directors. However, business group affiliation is found to moderate the interlocks-diversification relationship negatively.
    Keywords: corporate diversification; board interlock; network theory; resource dependence theory; social capital.
    DOI: 10.1504/IJCG.2022.10051771
     
  • CEO age and working capital management: evidence from China   Order a copy of this article
    by Md. Jahidur Rahman, Wanting Gui, Naznin Sultana Chaity, Md. Moazzem Hossain 
    Abstract: Previous literature uncovered the important relationship between working capital management (WCM) and top executives' personal characteristics. This study explores the impact of chief executive officers' age on firms' WCM choices in China. This study uses 2,154 firm-year observations of Chinese firms as the sample, which is collected from 2010 to 2020. Net operating working capital (NOWC) is used to measure WCM. CEO age is measured with the natural logarithm of CEO age. This study uses fixed-effects regressions to explore the connection between CEO age and working capital management in Chinese firms. Result reveals that young managers are inclined to offer customers large trade credits but fail to uncover robust corroborations where entities with young executives are inclined to choose conservative corporate WCM strategies (conservative strategy hypothesis). Although the result is unexpected, this study provides novel insights to future researchers who are interested in this area, including investors and directors who are interested in the Chinese market.
    Keywords: working capital management; WCM; CEO age; aggressive strategy; conservative strategy; Chinese market; career concern level; China.
    DOI: 10.1504/IJCG.2022.10052379
     
  • Trends and convergence analysis of executive remuneration in the Indian banking industry   Order a copy of this article
    by Madhur Bhatia, Rachita Gulati 
    Abstract: This paper empirically examines the trends and convergence in the remuneration of executive directors in the Indian banking industry and across bank groups from 2005 to 2018. The study adopts Barro et al 's (1991) σ- and β-concepts of convergence in the dynamic panel econometric specification and Phillips and Sul's (2007, 2009) club clustering algorithm to investigate the convergence in executives' remuneration. The empirical results show evidence of β-convergence in remuneration paid to bank executives, implying the existence of a catching-up phenomenon in pay levels in the Indian banking industry and across ownership groups. However, a significant decline in the dispersion in executive pay is not observed. The club convergence identifies two convergent clubs and one divergent club in the industry with a considerably huge gap in the average pay across clubs. Our study offers sound policy implications to promote ongoing governance reforms toward an optimal pay-setting process.
    Keywords: executive remuneration; governance; β- and σ-convergence; club clustering; Indian banks.
    DOI: 10.1504/IJCG.2022.10052879
     
  • Environmental disclosure and CSR committee: an empirical investigation in emerging market   Order a copy of this article
    by Najul Laskar 
    Abstract: This study examines the empirical association between CSR committee and environmental disclosure both in terms of level and quality. We have employed manual content analysis of published sustainability report, governance report and environmental report of top 200 companies listed in Bombay Stock Exchange (BSE) from 2016-2017 to 2021-2022 to construct the disclosure index both in terms of level and quality of environmental disclosure. For carrying out the task of content analysis, we have used the latest version of GRI framework (i.e., G4). Based on the OLS model, panel data model and system GMM model, we find that impact of CSR committee on the environmental disclosure is positive and significant. Additionally, we also use system GMM model to not only to check the robustness of our findings but also to ensure that there is no endogeneity issue.
    Keywords: environmental disclosure; CSR committee; content analysis; GRI framework; BSE 200 Index.
    DOI: 10.1504/IJCG.2022.10052705