Attitudes of stock brokerage employees on Philippine corporate governance reforms

• Main Author: Almonte, Catherine Kalayaan S.
• Format: text
• Published: Animo Repository 2005
• Subjects: Corporate governance > Philippines; Stockbrokers > Philippines; Business Administration, Management, and Operations
• Online Access: https://animorepository.dlsu.edu.ph/faculty_research/12089
• Institution: De La Salle University

An exploratory study on the attitudes of stock brokerage employees on Philippine corporate governance reforms was made. Five respondents were interviewed. The following were the results of the study: (1) there is no common definition of corporate governance although the various definitions have similarities, (2) opinions vary with regards to increasing the minimum float requirement for IPOs, (3) independent directors are not really "independent", (4) reportorial requirements have increased the costs of brokerage firms but it also sends the signal that the market is transparent (however, there is a content with regards to the accuracy of the information submitted by the stock brokerage firms, (5) stock brokerage firms are audited once a year, (6) the BW scandal made investors uncertain about investing in Philippine stocks, (7) there is room for improving Philippine governance reforms, (8) the reputation of the controlling family matters when investing in publicly listed firms in the Philippines (there is an Ayala Premium and a Gokongwei Discount), and (9) all of the respondents practice "Client First".