Raputsoane, Leroi (2025): Global mineral companies size and corporate governance.
PDF
MPRA_paper_123203.pdf Download (367kB) |
Abstract
This paper analyses the relationship between the size of Global minerals companies and corporate governance. This is achieved by augmenting and comparing the corporate governance ratings of minerals companies in South Africa to that of the minerals companies world wide. The results show a statistically significant autonomous corporate governance as well as a statistically significant difference in corporate governance of the sampled companies' measures of transparency, comprising required disclosure and additional disclosure, based on size. The results, however, show no statistically significant difference in corporate governance between minerals companies in south Africa compared to the minerals companies in other parts of the world as well as no statistically significant difference in corporate governance of the companies measures of market value, market performance and financial performance. The paper, nevertheless, recommends a continued encouragement of good corporate governance to all companies, including those in the minerals industry, given the adverse consequences of the recent corporate scandals.
Item Type: | MPRA Paper |
---|---|
Original Title: | Global mineral companies size and corporate governance |
Language: | English |
Keywords: | Global minerals companies, Corporate governance, Companies size |
Subjects: | C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C13 - Estimation: General D - Microeconomics > D2 - Production and Organizations > D22 - Firm Behavior: Empirical Analysis G - Financial Economics > G3 - Corporate Finance and Governance L - Industrial Organization > L7 - Industry Studies: Primary Products and Construction |
Item ID: | 123203 |
Depositing User: | Dr Leroi Raputsoane |
Date Deposited: | 09 Jan 2025 01:56 |
Last Modified: | 09 Jan 2025 01:56 |
References: | Adel, C., Hussain, M. M., Mohamed, E. K., and Basuony, M. A. (2019). Is Corporate Governance Relevant to The Quality of Corporate Social Responsibility Disclosure in Large European Companies? International Journal of Accounting & Information Management, 27(2):301–332. Breusch, T. S. and Pagan, A. R. (1979). A Simple Test for Heteroscedasticity and Random Coefficient Variation. Econometrica, 47:1287–1294. Bruno, V. and Claessens, S. (2010). Corporate Governance and Regulation: Can There Be Too Much of a Good Thing? Journal of Financial Intermediation, 19(4):461–482. Byrne, D. (2024). What is a Corporate Governance Framework? Article, 22 July. Corporate Governance Institute (CFI). Chan, M. C., Watson, J., and Woodliff, D. (2014). Corporate Governance Quality and CSR Disclosures. Journal of Business Ethics, 125:59–73. Chen, J. (2023). Corporate Governance: Definition, Principles, Models, and Examples. Article, October. Investopedia. Coase, R. H. (1937). The Nature of the Firm. Economica, 4(16):386–405. Conmy, S. (2022). What is Corporate Governance? Article, August. Corporate Governance Institute (CFI). Fama, E. and Jensen, M. C. (1983a). Agency Problems and Residual Claims. Journal of Law and Economics, 26:327–349. Fama, E. and Jensen, M. C. (1983b). Separation of Ownership and Control. Journal of Law and Economics, 26:301–332. Fama, E. F. (1980). Agency Problems and the Theory of the Firm. Journal of Political Economy, 88(2):288–307. Glassman, C. A. (2005). Beyond the Myth of Anglo-American Corporate Governance. Speech. U.S. Securities and Exchange Commission (SEC). Goldfeld, S. M. and Quandt, R. E. (1965). Some Tests for Homoscedasticity. Journal of the American Statistical Association, 60(310):539–547. Gujarati, D. N. and Porter, D. C. (2009). Basic Econometric. McGraw-hill, 5th edition. Herbert, W. E. and Agwor, T. C. (2021). Corporate Governance Disclosure and Corporate Performance of Nigerian Banks. Journal of Research in Emerging Markets, 3(3):14–36. Institute of Directors South Africa (IODSA) (2016). King IV Report. Institute of Directors South Africa (IODSA), 4th edition. Ioannou, I. and Serafeim, G. (2017). The Consequences of Mandatory Corporate Sustainability Reporting. Working Paper Series, 11-100. Harvard Business School. Jensen, M. C. (1986). Agency Cost of Free Cash Flow, Corporate Finance, and Takeovers. American Economic Review, 76(2):323–329. Jensen, M. C. and Meckling, W. H. (1976). Theory of the Firm. Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4):305–360. Johannesburg Stock Exchange (JSE) (2024). Corporate Governance Framework. Article. Johannesburg Stock Exchange (JSE). Johnson, R., Erasmus, P. D., and Mans-Kemp, N. (2019). Assessing the Business Case for Environmental, Social and Corporate Governance Practices in South Africa. South African Journal of Economic and Management Sciences, 22(1):1–13. McKinsey & Company (2009). Valuing Corporate Social Responsibility. Surveys, February. McKinsey & Company. McKinsey & Company (2020). The ESG Premium: New Perspectives on Value and Performance. Surveys, February. McKinsey & Company. Morck, R. K. (2005). A History of Corporate Governance around the World. University of Chicago Press. Naciri, A. (2008). Corporate Governance around the World. Routledge. Organisation Economic Cooperation and Development (OECD) (2015). G20/OECD Principles of Corporate Governance. Organisation Economic Cooperation and Development (OECD) Publishing. Phillips, R. (2003). Stakeholder Theory and Organizational Ethics. Berrett-Koehler Publishers. Ramsey, J. B. (1969). Tests for Specification Errors in Classical Linear Least-Squares Regression Analysis. Journal of the Royal Statistical Society Series B: Statistical Methodology, 31(2):350–371. Ross, S. (2024). What Are Some Examples of Different Corporate Governance Systems? Article, May. Investopedia. Shapiro, S. S. and Wilk, M. B. (1965). An Analysis Of Variance Test for Normality (Complete Samples). Biometrika, 52(3-4):591–611. Solomon, J. (2020). Corporate Governance and Accountability. John Wiley & Sons. Ungureanu, M. (2012). Models and Practices of Corporate Governance Worldwide. Working Papers Series, 4(3a). Centre for European Studies (CES). Wernicke, G. (2018). Corporate Governance: How Does it Affect the Value of a Company? Private Sector & Development, December. HEC Paris. Wright, P. (2020). Significance of Corporate Governance and Best Practices for Small-Cap IROs. Article, December. Linkedin. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/123203 |