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New Issue Of the ‘Corporate Board: Role, Duties and Composition’ Journal Is Published

The recent issue of the journal Corporate Board: role, duties and composition pays attention to issues of organizational effectiveness, people relationships, corporate governance, financial statements, bankruptcy etc. More detailed issues are given below:

Patsy Govender and Sanjana Brijball Parumasur use an integrated system evaluation process to diagnose the extent to which key tasks, structure, people relationships, motivation, support, management leadership, attitude towards change and performance impact on organizational effectiveness respectively. The population for the study comprised of all staff in a provincial trade and investment promotion agency in South Africa and a consensus approach was used through a cluster sampling technique, which secured an 85.4% response rate. In this quantitative, cross-sectional study data was collected using questionnaires and analyzed using both descriptive and inferential statistics. The results reflect that the diagnostic variables impact on organizational effectiveness in varying degrees.

Wadesango N. and Wadesango V.O. review relevant literature in order to determine the extent to which Financial Statements disclose true business performance to stakeholders. Literature reviewed established that management fraudulent reporting, relevance of reports and reliability of information are to be taken into account when assessing level of reliance that can be placed on financial statements on disclosing business performance. The study concludes that management fraudulent reporting, relevance of reports, reliability of information and source of information are to be taken into account when assessing level of reliance that can be placed on financial statements to determine their ability to disclose business performance.

Ntoung A. T. Lious, Santos de Oliveira H. M. and Pereira Cláudia M. F. test whether cash flow components is more useful in classifying bankrupted and non-bankrupted of small and unlisted firms in Spain. The results of this study suggest that cash flows components are superior to financial ratios for classifying small failed and non-failed companies with the logit model. Particularly most failing firms reduce or avoid paying dividend to their owner. This reduction or the absence of dividend payments as a proportion of total outflow is often related to either a significant decrease in the net operating inflow and/or an increase in the relative outflow to fixed charges resulting from increased external debt financing.

Carlos S. Garcia, Jimmy A. Saravia and David A. Yepes support the proposition that the WACC of younger firms is higher than that of mature firms. Thus, the authors find that the mature firm overinvestment problem is not intensified by a higher cost of capital, on the contrary, our results suggest that mature firms manage to invest in negative net present value projects even though they have access to cheaper capital. This finding sheds new light on the magnitude of the corporate governance problems found in mature firms.

Mohammad Muflih Alhadab aims to investigate the relationship between audit quality and IPO underpricing for IPO firms that went public on the Alternative Investment Market (AIM) of the London Stock Exchange in the UK. Prior research has examined this relationship; however, there has been no work investigates this relation for IPO firms that went public on the AIM market. Based on a sample of 413 IPOs, the findings of the current study reassure prior literature that high quality auditors are associated with a lower level of IPO underpricing. The findings show that high quality audit firms help to reduce the level of information asymmetry around the IPO and, therefore, this leads to reduce the level of IPO underpricing. Further, size, liquidity ratio, and high litigation industries are found to contribute the IPO underpricing on the AIM market.

To browse the papers please visit this page.

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