Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization
The present study seeks to develop the board of director's principle and its effectiveness on the corporate governance instructions of Securities and Exchange Organization of Iran. After reviewing the theoretical literature on the composition and characteristics of the board of directors in the...
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| Format: | Article |
| Language: | fas |
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Alzahra University
2022-07-01
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| Series: | پژوهشهای تجربی حسابداری |
| Subjects: | |
| Online Access: | https://jera.alzahra.ac.ir/article_6378_95313b3134a6cdc9bc56e3779e64fb9d.pdf |
| _version_ | 1797955958096265216 |
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| author | meysam amiri javad shekarkhah mohammad hasan ebrahimi sarv olya hamid mozafari |
| author_facet | meysam amiri javad shekarkhah mohammad hasan ebrahimi sarv olya hamid mozafari |
| author_sort | meysam amiri |
| collection | DOAJ |
| description | The present study seeks to develop the board of director's principle and its effectiveness on the corporate governance instructions of Securities and Exchange Organization of Iran. After reviewing the theoretical literature on the composition and characteristics of the board of directors in the corporate governance principles of New York Stock Exchange, London Stock Exchange and Malaysia Stock Exchange and considering the social, economic, political and cultural conditions of Iran, dimensions and components of effective composition and characteristics of the board are determined. These are including Board Roles, Responsibility Separation, Chairman of the Board, Non-Executive Board Members, Board Composition, Board Commitment, Board Development and Improvement, Board Information and Communication, Board Evaluation, Re-Selection of Board Members and board compensation. Then, opinion of 30 experts are gathered and analyzed using the triangular fuzzy Delphi method, and finally the dimensions and components of the composition and the characteristics of an effective board are extracted. The results show that the principle of the Board and CEO included in the corporate governance instructions developed by the Securities and Exchange Organization of Iran has some bugs including the definition of a major shareholder and characteristics of an independent board member. Also, Components such as the definition of an independent senior member, disclosure of the number of meetings of the board of directors and committees, determining the training needs of board members, evaluating the performance of board members, etc. are not considered and require the consensus results of the present study. |
| first_indexed | 2024-04-10T23:42:25Z |
| format | Article |
| id | doaj.art-3cd774d68949428d8652a1944c8e452b |
| institution | Directory Open Access Journal |
| issn | 2251-8509 2538-1520 |
| language | fas |
| last_indexed | 2024-04-10T23:42:25Z |
| publishDate | 2022-07-01 |
| publisher | Alzahra University |
| record_format | Article |
| series | پژوهشهای تجربی حسابداری |
| spelling | doaj.art-3cd774d68949428d8652a1944c8e452b2023-01-11T06:12:44ZfasAlzahra Universityپژوهشهای تجربی حسابداری2251-85092538-15202022-07-0112213115010.22051/jera.2020.31641.26896378Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organizationmeysam amiri0javad shekarkhah1mohammad hasan ebrahimi sarv olya2hamid mozafari3Assistant Professor, Department of Finance and Banking, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, IranAssistant Professor, Department of Accounting, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, IranAssistant Professor, Department of Finance and Banking, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, IranPhD, Department of Finance and Banking, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, IranThe present study seeks to develop the board of director's principle and its effectiveness on the corporate governance instructions of Securities and Exchange Organization of Iran. After reviewing the theoretical literature on the composition and characteristics of the board of directors in the corporate governance principles of New York Stock Exchange, London Stock Exchange and Malaysia Stock Exchange and considering the social, economic, political and cultural conditions of Iran, dimensions and components of effective composition and characteristics of the board are determined. These are including Board Roles, Responsibility Separation, Chairman of the Board, Non-Executive Board Members, Board Composition, Board Commitment, Board Development and Improvement, Board Information and Communication, Board Evaluation, Re-Selection of Board Members and board compensation. Then, opinion of 30 experts are gathered and analyzed using the triangular fuzzy Delphi method, and finally the dimensions and components of the composition and the characteristics of an effective board are extracted. The results show that the principle of the Board and CEO included in the corporate governance instructions developed by the Securities and Exchange Organization of Iran has some bugs including the definition of a major shareholder and characteristics of an independent board member. Also, Components such as the definition of an independent senior member, disclosure of the number of meetings of the board of directors and committees, determining the training needs of board members, evaluating the performance of board members, etc. are not considered and require the consensus results of the present study.https://jera.alzahra.ac.ir/article_6378_95313b3134a6cdc9bc56e3779e64fb9d.pdfcorporate governancecorporate governance principlescomposition and characteristics of the board of directors |
| spellingShingle | meysam amiri javad shekarkhah mohammad hasan ebrahimi sarv olya hamid mozafari Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization پژوهشهای تجربی حسابداری corporate governance corporate governance principles composition and characteristics of the board of directors |
| title | Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization |
| title_full | Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization |
| title_fullStr | Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization |
| title_full_unstemmed | Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization |
| title_short | Development of the Board of Directors Principle and its Effectiveness on Corporate Governance Instructions of Securities and Exchange Organization |
| title_sort | development of the board of directors principle and its effectiveness on corporate governance instructions of securities and exchange organization |
| topic | corporate governance corporate governance principles composition and characteristics of the board of directors |
| url | https://jera.alzahra.ac.ir/article_6378_95313b3134a6cdc9bc56e3779e64fb9d.pdf |
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