Corporate Governance And Firm Financial Performance
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| Author | : Mark Hirschey |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 268 |
| Release | : 2009-04-16 |
| Genre | : Business & Economics |
| ISBN | : 1848555377 |
Focuses on corporate governance, broadly defined as the system of controls that helps corporations and other organizations effectively manage, administer, and direct economic resources. This book focuses on: the impact of deregulation and corporate structure on productive efficiency; and the effectiveness of the fraud triangle and SAS.
| Author | : Hoang N. Pham |
| Publisher | : Routledge |
| Total Pages | : 190 |
| Release | : 2022-01-25 |
| Genre | : Business & Economics |
| ISBN | : 1000540278 |
The relationship between ownership structure and firm performance has been studied extensively in corporate finance and corporate governance literature. Nevertheless, the mediation (path) analysis to examine the issue can be adopted as a new approach to explain why and how ownership structure is related to firm performance and vice versa. This approach calls for full recognition of the roles of agency costs and corporate risk-taking as essential mediating variables in the bi-directional and mediated relationship between ownership structure and firm performance. Based on the agency theory, corporate risk management theory and accounting for the dynamic endogeneity in the ownership–performance relationship, this book develops two-mediator mediation models, including recursive and non-recursive mediation models, to investigate the ownership structure–firm performance relationship. It is demonstrated that agency costs and corporate risk-taking are the ‘missing links’ in the ownership structure–firm performance relationship. Hence, this book brings into attention the mediation and dynamic approach to this issue and enhances the knowledge of the mechanisms for improving firm’s financial performance. This book will be of interest to corporate finance, management and economics researchers and policy makers. Post-graduate research students in corporate governance and corporate finance will also find this book beneficial to the application of econometrics into multi-dimensional and complex issues of the firm, including ownership structure, agency problems, corporate risk management and financial performance.
| Author | : Ahmadu Sanda |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 2005 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Constantin Zopounidis |
| Publisher | : World Scientific |
| Total Pages | : 340 |
| Release | : 2023-02-10 |
| Genre | : Business & Economics |
| ISBN | : 9811260516 |
This book focuses on corporate governance and proposes a novel framework for combining the Corporate Governance Framework (CGF) with current corporate finance issues arising in the Contemporary Business Environment (CBE) and cointegrating them with today's business needs. It consists of a good collection of state-of-the-art approaches that will be useful for new researchers and practitioners working in this field, helping them to quickly grasp the current state of corporate governance and corporate financial performance.Good corporate governance is not only important for companies, but also for the society. To begin with, good corporate governance strengthens the public's faith and trust in corporate governance. Legislative processes were developed to protect the society from known threats and prevent problems from occurring or recurring. Recent corporate scandals shed light on the impact that corporations have on social responsibility. The new focus on the corporate governance framework increases the responsibility and accountability of companies to their stakeholders and provides a solid framework for enhancing corporate performance.
| Author | : Naeem Tabassum |
| Publisher | : Springer Nature |
| Total Pages | : 335 |
| Release | : 2020-06-28 |
| Genre | : Business & Economics |
| ISBN | : 3030485277 |
Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.
| Author | : Jonathan Karpoff |
| Publisher | : Blackwell Publishing |
| Total Pages | : 33 |
| Release | : 2000-11-09 |
| Genre | : Business & Economics |
| ISBN | : 9780943205281 |
Many studies indicate that a company's stock price decreases when the company adds restrictions regarding corporate governance to its charter or bylaws. The authors of this monograph analyzed the effect of 20 different governance provisions and report that companies with the fewest restrictive provisions in their industries have the best industry-adjusted performance.
| Author | : Adetunji Monsurudeen Idowu |
| Publisher | : |
| Total Pages | : |
| Release | : 2018 |
| Genre | : |
| ISBN | : |
| Author | : Barbara Sveva Magnanelli |
| Publisher | : Springer Nature |
| Total Pages | : 176 |
| Release | : 2020-10-02 |
| Genre | : Business & Economics |
| ISBN | : 3030561208 |
This book explores diversity in boardrooms to highlight the link between the heterogeneous dimensions of board diversity and their impact on the firms. The book provides a brief definition of corporate governance and focuses on the role and functions of the board of directors. The work contributes to the literature enriching the empirical findings about board diversity. After a deep review of the literature within several theoretical frameworks, such as agency, stakeholder, stewardship, resource dependence, and the institutional theory, the focus moves on the impact on financial performance. The board diversity effects are tested through an empirical analysis conducted on a sample of European listed companies, performing both a single and a joint diversity index analysis. Practitioners and academics will find this book particularly timely and useful as it combines both a review of the literature and robust empirical investigation. It will be an excellent reading for academics and practitioners interested in firm performance, corporate governance and stakeholder theory.
| Author | : Kristína Zimanová |
| Publisher | : |
| Total Pages | : 95 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
Das Ziel dieser Studie ist es, die Beziehung zwischen Corporate Governance und Finanzleistung zu ermitteln. Generell ist eine gute Unternehmensführung mit einer besseren finanziellen Leistung verbunden. In Bezug auf die Corporate Governance wurden zehn Governance-Determinanten (Größe des Verwaltungsrats, Unabhängigkeit des Verwaltungsrats, Verwaltungsratssitzungen, Anwesenheit des Verwaltungsrats, Dauer des Verwaltungsrats, Dualität des CEO, klassifiziertes Verwaltungsratsystem, Stammaktien, Prüfungsgröße und unabhängiger Vorsitzender) als unabhängige Variablen ausgewählt die hypothetische Beziehung zwischen Corporate Governance und fester finanzieller Leistung. Andererseits wurde die Finanzleistung als abhängige Variable anhand der Kapitalrendite gemessen. Zur Prüfung wurden zehn Hypothesen, deskriptive und multiple Regressionsanalysen zusammen mit geeigneten Modellauswahlkriterien verwendet. Die Ergebnisse zeigten, dass es sicherlich eine Beziehung gibt, die einzige Frage ist, ob positiv oder negativ. Die Beziehung wurde durch fünf unabhängige Variablen bestätigt, wie zum Beispiel Vorstandssitzungen, Dualität des CEO, klassifiziertes Vorstandssystem, Stammaktien und unabhängiger Vorsitzender. Die Ergebnisse sind robust für die Erklärung des signifikanten Zusammenhangs zwischen Corporate Governance und fester finanzieller Leistung.*****The purpose of this study is to identify the relationship between corporate governance and firm financial performance. Generally speaking, good corporate governance is associated with better financial performance. Regarding to corporate governance, ten governance determinants (board size, board independence, board meetings, board attendance, board duration, CEO duality, classified board system, common shares, audit size, and independent chairperson) as the independent variables, were chosen to analyse the hypothesized relationship between corporate governance and firm financial performance. On the other hand, financial performance as
| Author | : Rajeswarar S. Chaganti |
| Publisher | : Bloomsbury Publishing USA |
| Total Pages | : 172 |
| Release | : 1998-08-27 |
| Genre | : Business & Economics |
| ISBN | : 0313007837 |
The ability to implement change quickly is crucial to an organizations's success—not only in traditionally sedate industries, but also in today's fast-moving hi-tech ones. Sherman and Chaganti, from their study of 100 American corporations, half in stable industries, half in volatile ones, find that a firm's structure of governance bears heavily on the speed with which the firm can reorient itself. What are the characteristics of firms that change quickly? What inhibits others? And what, precisely, is the impact of a firm's stockholders, board and top management on its ability to adapt? Sherman and Chaganti provide answers to these and other questions, in the first book yet to focus entirely on the determinants of time in corporate reorientations. In order for a firm to develop or sustain a competitive advantage, it must not only adapt correctly to environmental change, but also adapt quickly. This study examines the factors associated with the time a firm takes to initiate reorientation. The results of the research indicate that even in relatively large organizations, reorientations are not rare and occur routinely. Further, deterioration of a firm's financial condition tends to hasten its initiation of reorientation. However, the determinants of time taken to initiate reorientation differ in firms with relatively high prior performance and firms with relatively low prior performance.
