This paper investigates the effect of governance practice on firm value. The extent of corporate governance practice being influenced by the firm value of the company is assessed. Adopting a descriptive research design, primary data were collected from 650 governance professionals. To identify the factors of corporate governance, the exploratory factor analysis technique is used, and to assess the effect of governance practice on firm value, structural equation modelling is applied. The results of the study conclude that there exist significant effects of governance attributes on firm value.
ABSTRACT This study investigated the impact of economic growth on Brazilian international reserves holdings in the context of Error Correction Mechanism using data over the 1980-2014 period. The results reveal that economic growth is highly significant. From the estimation of our model, we argue that economic growth and international reserves have positive long run relationship. Error correction estimates validated our model for error correction term is negative and statistically significant. Besides, our model suggested that economic growth has short run relationship too. The speed of adjustment is more than 40% which indicated that error correction term corrects previous year disequilibrium at the rate of 40.4%.
Swept along by the winds of change, corporations are now moving towards environmentally friendly production processes partly to ensure compliance with rules and regulations, and partly to reduce potential liabilities, exploit opportunities in new and emerging markets, and to respond effectively to competitive pressures. Today companies tend to be ranked not only on the basis of their financial performance but also on the basis of their environmental track record. Thus, while a defi nite trend in the direction of greening of corporate activities is clearly apparent, the present study seeks to identify the organizational factors which infl uence and contribute to the environmental performance of companies. Environmental performance for this purpose was evaluated with respect to the company's track record vis-à-vis the following components: existence of a separate environmental policy, concrete environmental action plan in the areas of energy saving, air pollution control, effluent treatment before discharge, solid waste management, ongoing environmental education programs for employees, giving priority to environmental impact in the selection of new technology, conducting life cycle analysis study on products, disclosure of environmental information relating to its products and services, availability of emission and material usage data, practice of environmental accounting, green supply chain management, green procurement policy and involvement of the company in local community activities.
