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The purpose of this study is to examine the impact of multiple large ownership structure (MLS) and audit committee activity (ACA) on audit pricing for a sample of UK listed companies.

One way analysis of variance (ANOVA) and cross sectional multiple regression analysis of a sample of UK listed companies showed statistically significant differences in the audit fees, firm size and audit committee activities of these firms when they are categorised based on the number of MLS.

The study finds a significant negative relationship between audit fees and number of MLS, but a surprising positive relationship with ACA. The findings confirm the beneficial effects of more active institutional investors’ monitoring, but also show that increasing monitoring by audit committees is associated with increase in audit fees.

The results reported in this research are based on cross sectional data. It is likely that the result may be different if the issue is examined over a relatively longer period.

The study showed that monitoring intensity of the large shareholders can be captured through their number and not simply through their shareholding. It also confirms the suggestion in previous studies that audit committees’ members protect themselves from depletion in human capital, litigation and reputational risk by buying more audit related services from their auditors.

The study empirically examined the impact of multiple large ownership structure on audit pricing and thereby extends the practical and theoretical understanding on the monitoring roles of large shareholders as well as the audit committees.

The purpose of this paper is to examine the dichotomy of radicalism and reformism in the corporate social responsibility (CSR)/sustainability literature, where the reform position is described as mainstream, where sustainability is delivered by governance mechanisms, regulation and planning, internalising costs, and redesigning industrial processes. Radical critiques of this position argue that reformists have “claimed” the CSR debate and therefore disempowered those who would bring about more fundamental changes. The alternative radical position is described as a countercurrent, an ecocentric approach requiring change in economic and political systems.

The paper reviews some of the thinking in this area to assess whether a truly radical position is possible to affect change or whether the forces of incrementalism allow gentle resistance to the status quo, which will be more effective in closing the sustainability gap.

The paper maps some of the models described within it to assess where each lies in the radical‐reformist continuum.

The findings should allow an assessment of the possibilities for CSR to become more radical in approach. However, this needs further empirical testing.

The mapping is an original contribution to the area.

The purpose of this paper is to investigate several variables that are theoretically associated with the internal audit function (IAF) having an active role in corporate governance.

The paper uses responses from 782 US Chief Audit Executives (CAEs) in the CBOK (2006) database for the investigation. The paper makes the assumption that an IAF has only one CAE, thus the dataset represents 782 US IAFs.

It is found that an IAF having an active role in corporate governance is significantly and positively associated with the use of a risk‐based audit plan, existence of a quality assurance and improvement program, and audit committee input to the audit plan. Control variables such as stock exchange listing, firm size, the existence of an internal control framework, and a CAE with an internal auditing qualification also are positively associated with the IAF having an active role in corporate governance.

A limitation of this study is that CAE perceptions may deviate from actual practice. Also, the sample is limited to the US CAEs who are also IIA members, thus it may not reflect the views of non‐members and the CAEs from other countries.

The results have implications for CAEs who wish to increase the chance for their IAFs to play an active role in corporate governance. The IIA may benefit from these results in its supporting role for the internal auditing profession.

The study is complementary to the literature on the existence and size of the IAF and reveals several avenues for further research.

The purpose of this study is to examine whether corporate community involvement disclosures (CCID) in annual reports can be construed as a measure of corporate community development (CCD) or a mere signal of corporate social responsibility (CSR) observance.

Using content analysis and a quality score index, the study examined a panel data set covering the period from 1999 to 2008. The data was collected from a sample of 270 annual reports of 27 UK companies taken from the top 100 companies for corporate responsibility (BITC ranking, 2008). The research framework involves the use of signalling theory to investigate the information content of CCID.

It is found that the volume of corporate community disclosure (CCID) has a significant association with its total quality score (TQS) although the impact was found to be very small. CCID was also found to be strongly and positively associated with the volume of total CSR disclosed in annual reports. Hence the quantity and quality of CCID in annual reports increased significantly as the quantity of CSR disclosure also increased. Furthermore, the TQS was found to respond to company size and Corporate Governance measures such as audit committee size and board composition, and the existence of standalone CSR Reports, while other measures of public pressure such as leverage, profitability and industrial sector were not statistically significantly related with TQS.

This paper contributes to CSR literature in general and CCID literature in particular. The originality stems from the fact that it employs a signalling framework and a panel study approach as opposed to cross‐sectional only or time‐series only data to examine a less researched social disclosure – corporate community involvement.

The purpose of this study is to examine the impact of corporate governance mechanisms on corporate financial decisions in one of the emerging economies, United Arab Emirates (UAE). In particular, the paper examines the degree to which internal corporate governance mechanisms and an external corporate governance mechanism affect UAE firms’ capital structure.

The paper uses a multiple regression analysis to examine the association between corporate governance and capital structure for a sample of 71 UAE firms listed either in the Dubai financial market or the Abu Dhabi securities market during 2006.

The paper finds that institutional investors have a negative impact on debt‐to‐equity ratio. This result does not support the “active monitoring hypotheses” where institutional investors are expected to exercise their voting rights effectively in order to prevent managers from reducing their “employment risk” at the expense of the interests of shareholders. It also finds that dividend policy is negatively associated with debt‐to‐equity ratio, while firms’ size is positively associated with debt‐to‐equity ratio.

Empirical analysis suggests that corporate governance mechanisms have important implications for UAE firms’ financial policies. UAE managers should be aware of the benefits of the implementation of effective internal and external corporate governance mechanisms while embracing international corporate governance standards. An effective implementation of the codes of corporate governance should improve the efficiency and effectiveness of UAE firms and the UAE stock markets.

To the best of the authors’ knowledge, there is no study that has yet empirically examined the effect of the corporate governance mechanisms on capital structure in UAE or Middle Eastern countries. This study offers the first evidence of the impact of corporate governance mechanisms on capital structure in UAE.

The purpose of this paper is to revisit the determinants of audit committee activity in UK listed companies after over a decade since the last investigation of this matter and with numerous significant changes in the regulatory and corporate governance framework globally.

Underpinned by agency theory, the study undertakes a multiple regression analysis of listed companies in the UK in order to determine the determinants of the activity of the audit committees in these companies.

The study finds that audit committee activity is an increasing function of boards' independence and diligence. Interestingly, it also finds a significant negative relationship between audit committee activity and ownership structure. A higher number of large shareholders with at least 3 percent of the firm's issued equity share capital are associated with a decrease in a committee's activity. Audit committee expertise, size and the availability of an audit committee charter were not significant determinants of audit committee activity.

The findings from the study suggest the need for more research into the factors that can explain the determinants of the activity of the audit committees in the UK and elsewhere. It also opens up the discussion on the effects of changing global corporate behaviors on corporate governance mechanisms.

This study shows that there is a positive relationship between board independence and the activity of the audit committees. In other words, to improve the performance of the audit committees in UK listed companies, board independence should be increased. There also seems to be substitution between governance mechanisms. The presence of large shareholders slowed the activity of the audit committees, as evidenced in a significant negative relationship.

The study revisits the determinants of the audit committees after over a decade since the initial investigation in the UK. However, the study is undertaken in a very different context with far‐reaching changes in the corporate landscape and regulations.

This paper attempts to provide a critique of the Commitment to Africa report in an effort to understand how one large transnational corporation sees its role in the continent and to explain its social responsibility and its approach to citizenship.

The critique analyses sections of the report by identifying the key messages contained therein and reflects on these in the light of other evidence and viewpoints. For instance: On what does Nestlé base its corporate citizenship? What contribution does Nestlé make to economic development in Africa? What wider social issues does Nestlé embrace? How does the report discharge Nestlé's accountability to its stakeholders?

The report prioritises economic development and indicates that this is the means of achieving poverty alleviation in Africa. There is some engagement with the Millennium Development Goals by the company, which indicates a philanthropic model of corporate social responsibility.

The study is limited to one company but there are implications for other transnational companies as many of these produce reports in a similar vein. The research could therefore be replicated by examining further reports.

The paper adds to the knowledge on the relationship between corporate social responsibility and poverty alleviation. It also provides additional evidence on the role of transnational enterprises in globalisation processes.

The purpose of this paper is to investigate as to whether post‐Apartheid South African (SA) listed corporations voluntarily comply with and disclose recommended good corporate governance (CG) practices and, if so, the major factors that influence such voluntary CG disclosure behaviour.

The paper constructs a broad voluntary CG disclosure index containing 50 CG provisions from the 2002 King Report using a sample of 169 SA listed corporations from 2002 to 2006. The authors also conduct regression analysis to identify the main drivers of voluntary CG disclosure.

The results suggest that while compliance with, and disclosure of, good CG practices varies substantially among the sampled companies, CG standards have generally improved over the five‐year period examined. The authors also find that block ownership is negatively associated with voluntary CG disclosure, while board size, audit firm size, cross‐listing, the presence of a CG committee, government ownership and institutional ownership are positively related to voluntary CG disclosure.

These findings have important implications for policy‐makers and regulators. Evidence of improving CG standards implies that efforts by various stakeholders at improving CG standards in SA companies have had some positive impact on CG practices of SA firms. However, the substantial variation in the levels of compliance implies that enforcement may need to be strengthened further.

There is a dearth of evidence on the level of compliance with the King Report. This study fills this gap by providing evidence for the first time on the level of compliance achieved, as well as contributing generally to the literature on compliance with codes of good governance and voluntary disclosure.