https://www.um.edu.mt/library/oar/handle/123456789/66901 2026-04-27T10:38:58Z https://www.um.edu.mt/library/oar/handle/123456789/67066 Title: Journal of Corporate Governance, Insurance and Risk Management : volume 3 : issue 2 Editors: Todorović, Igor; Grima, Simon; Özen, Ercan; Tipurić, Darko Abstract: 1/ Peter J Baldacchino, Amy Camilleri, Isabel Cutajar, Simon Grima, Frank H Bezzina - The participation of the small shareholder in the annual general meeting : a reflection of good corporate governance?; 2/ Kenneth Högholm, Johan Knif - Short term announcement returns to the bidder; 3/ Ladislav Suhányi, Alžbeta Suhányiová, Jarmila Horváthová, Martina Mokrišová - Research in the field of economic crime in Slovakia; 4/ Lira Peter Sekantsi - Determinants of real private consumption expenditure in Lesotho; 5/ Darko Tomaš, Igor Todorović - Modelling fraud prevention process; 6/ Ardita Todri - Approaching EUR/CHF exchange rate volatility in Albanian market; 7/ Muafi, Ninik Probosari, Anis Siti Hartati - Are there relationship among stressor, behavior, and employee performance? : a case of civil servants in Bantul, DIY, Indonesia; 8/ Can Biçer, Kemal Yaman - The impact of the iron and steel industry to Karabuk and Sheffield : a historical background 2016-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/67050 Title: The participation of the small shareholder in the annual general meeting : a reflection of good corporate governance? Authors: Baldacchino, Peter J.; Camilleri, Amy; Cutajar, Isabel; Grima, Simon; Bezzina, Frank Abstract: This paper analyses the level of small shareholder (SS) participation in the Annual General Meeting (AGM), assessing how this reflects upon the corporate governance of listed entities. It focuses on SS attendance, voting and proposals (excluding those of institutional and majority shareholders), improving SS participation and the significance of such AGM proceedings to listed company corporate governance. Empirical mixed methodology research is carried out in a Maltese listed company (LC) setting by means of semi-structured interviews with seventeen LC secretaries, five stockbrokers, an online questionnaire responded by fifty-four shareholders in different LCs, as well as the analysis of company notices and documentation relating to the AGM. Results indicate that SS participation is weak. Attendance is poor, and is often spurred both by legitimate factors such as information on current financial performance and by questionable ones such as refreshments served and venue. Shareholders seem uncomfortable in asking management formal questions and even in voting by show of hands, and therefore opt for informal interaction with management and for voting by poll, the latter often rendering attendance fruitless and even unnecessary by permitting proxies. As for proposals, they could induce management’s later action despite seldom, if ever, being approved, but their submission is rare and mostly frivolous, commonly hampered by a lack of financial knowledge. The study concludes that the current level of SS participation does not render the AGM a tool reflecting good corporate governance, as it does not keep in balance the interests of this shareholder with those of other stakeholders. For the sake of better direction and control, and, in particular, for more transparency and accountability, the AGM has to be less stage-managed, as well as more interactive and engaging towards such shareholder. This calls for increased management commitment, particularly towards more investor education and guidance. 2016-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/67049 Title: Short term announcement returns to the bidder Authors: Hogholm, Kenneth; Knif, Johan Abstract: In this paper we investigate the short term abnormal return to the bidding firm’s shareholders in takeover transactions in Finland during the time period from January 2000 to December 2013. Specific features of the market for corporate acquisitions in Finland are that almost all of the transactions are friendly acquisitions and usually aim for 100 % of the target company. We estimate the abnormal return around 314 individual takeover announcements and investigate determinants of the abnormal returns. Our results show that the takeover announcement on average yields a positive abnormal return to the bidding firm’s shareholders, thus, support the value creating hypothesis. The announcement effect on the announcement day is 1.4 % and statistically significant. Both pre-event and post-event abnormal returns are statistically insignificant, although there is sign of a negative revaluation in the post-event period. Among the takeover characteristics, we document a significant impact on the bidder’s abnormal return on the announcement day for small deals yielding a higher abnormal return, but a positive relationship between the announcement effect and the relative size of the deal, cross-border deals giving a smaller abnormal return, and indication of diversification deals giving a higher abnormal return to the bidder’s shareholders. 2016-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/67012 Title: Research in the field of economic crime in Slovakia Authors: Suhanyi, Ladislav; Suhanyiova, Alzbeta; Horvathova, Jarmila; Mokrisova, Martina Abstract: Consequences of the crime influence the life of the whole society, it permeates to all areas of social life, as well as it penetrates into the lives of ordinary citizens of Slovakia. One of the most significant crimes is the economic crime. The relevance and the seriousness of the economic crime are expressed by its immediate threat of economic life and of the prosperity of society. The relevance of this issue is underlined by the fact that in the recent years there is an increase of new and more dangerous forms of crime. The aim of this paper is to examine the overall number of economic crime and the damages caused by these criminal activities in Slovakia during the last ten years. The emphasis will be put on the analysis of the number of business entities influenced by the economic crime, on the analysis of economic crime by the sectors of national economy and by the forms of economic crime in Slovakia. We will analyse the most common ways of committing tax frauds and accounting frauds, that distorts the business environment and it represents also a significant threat to the public finances. The complex accounting and tax issues enable the defrauders to commit accounting frauds and tax frauds; this is because of the deficiencies in the legislation, inefficient control processes and complexity of management. After that we analyse the number of Slovak companies with the owner from a tax haven. Within the analysis of secondary data in this paper appropriate mathematical and statistical methods will be used. Based on the evaluation of the results of research, conclusions and suggestions will be drawn. 2016-01-01T00:00:00Z