Board composition and corporate governance–A multivariate analysis of listed Danish firms

The article conducts a multivariate analysis using a sample of listed Danish firms in order to examine what describes board composition. This issue also relates to corporate law that stipulates the legal boundaries of board composition. In recent years, several European countries, including Denmark, have issued various codes for good corporate governance, in the form of soft law. Such initiatives have been launched, even though the questions of what describes board composition, as well as, the legal profession's influence on board structure, have not been fully uncovered. This study shows that four factors explain Danish board structure. These factors can be interpreted by the following dimensions; the lawyer oriented, the business person oriented, the internationally oriented and finally the traditionally oriented board. Thus, the paper shows that a higher proportion of insider ownership increases the first dimension, whereas a higher remuneration increases the business person orientation of the board. If firm size increases, the international dimension of the board increases and if a firm experiences less growth board structure becomes more traditional. classification G32 . K22     

Assessment of Armenian local government corruption potential

Local government in many developing countries is prone to institutional and individual corruption. Using a set of questions developed for a Baseline Review of the status of procedures and practices of Armenian local governments, a general matrix was developed that may be applied to any local government in any country. The matrix looks at three broad areas where the potential for corruption has historically been high: awareness and reporting suspected corruption, procurement practices, and internal control practices and procedures. This article presents a methodology (the matrix questions) that will enable the development practitioner to rapidly assess the corruption potential and develop training or technical assistance to reduce the corruption potential. Copyright © 2009 John Wiley & Sons, Ltd.     

Enhancing government's policy management and decision‐making system: The case of Ghana's central governance reforms project

Countries around the world are investing in the improvement of policy capacity in their public services. Ghana has made similar investments during the last decade, in order to achieve the government's far‐reaching policy agenda of transforming Ghana's economy. The Ghana Central Governance Project was initiated during the year 2000 in order to develop a skilled civil service, capable of moving coherently and effectively from policy and strategy to detailed policy options, budgeted programs and concrete results. This reform was deemed essential to the realization of the government's ambitious agenda.     

American Federalism as American Exceptionalism

Americans paradoxically claim uniqueness for their politicalsystem, yet promote it as a model for others. This is especiallytrue of federalism, the clearest example of American exceptionalism.At its inception, American federalism was produced in an environmentclosely approximating what scholars have since distilled asoptimal conditions for fostering such a system. In other contexts,federalism has not flourished, because those preconditions areseldom approximated. Remarkably, American federalism has adjustedto meet drastically changed social, geographic, and politicalconditions, and the case for its continued adaptiveness andappropriateness remains strong. Although enclaved state differencesin economics and religion are no longer a reality, these andother differences are widespread especially on a regional basis.Even on a statewide basis, cultural mixes keep the country heterogeneous.The U.S. Constitution has been reinterpreted to permit rathermore nationalized control in accordance with this process ofeliminating differences. Indeed, this is to the point wherefederalism could become legally problematic, explaining theRehnquist court's recent decisions.     

Jordan: Between the Arab Spring and the Gulf Cooperation Council

The Arab Spring has fundamentally shifted the strategic balance in the Middle East. As all sides rush to ensure that their interests will be secured, the Hashemite Kingdom of Jordan has emerged as a key battleground between those who would like to see a more democratic region, and those who would like to maintain economic stability. On one side of this debate is the Gulf Cooperation Council, led by Saudi Arabia, that views democratic reform as a threat to economic stability. On the other side are the forces of the Arab Spring, which have called for political reform in states such as Egypt, Syria, and Libya, even if these reforms come at the expense of stability. This article examines the various forces, both domestic and international, that are attempting to influence Jordan, and through it, the balance of power in the Arab World.