Implementation of corporate governance mechanisms in tourism

Governance Mechanisms and Corporate Disclosure∗

This paper explores a firm’s reliance on internal and external governance mechanisms as part of the firm’s overall governance policy. We argue that firms’ disclosure policies, by promoting greater transparency, foster external scrutiny and thus activity in the market for corporate control. Takeovers and internal board monitoring are therefore substitute instruments for corporate governance. How...

The Role of Corporate Governance Mechanisms and the Auditor's Specialty in Debt Contract Strictness

Objective: Violation of contractual conditions leads to the transmission of bad news due to poor performance and the expertise of auditors and regulatory mechanisms can be a factor in adjusting it. In this article, the purpose is to examine the role of strictness in the debt contract and the auditor's expertise. Research Method: In order to study the subject based on the logistic regression mo...

The effectiveness of corporate governance mechanisms and leadership structure

Sharing of Control versus Monitoring as Corporate Governance Mechanisms∗

Do large shareholders monitor firms on behalf of minority shareholders, or share control with other insiders to maximize the gains of the controlling group? We show how firm characteristics and governance laws determine the role of large shareholders in corporate governance. If the value of investment opportunities are hard for insiders to evaluate, letting a large shareholder monitor a single ...

Inefficiency of public road transport and internal corporate governance mechanisms

The aim of this paper is to determine the incidence of internal corporate governance on the efficiency of public transport operators. We use a stochastic analysis frontier model of a sample of 54 public road transport firms, during the period of 2000–2011. We also explain the inefficiency of public transport operators by the internal corporate governance. The stochastic frontier approach is use...