The Relationship between the Internal Governance and the Corporate Value of the Listed Companies

2011 ◽  
pp. 48-53
Author(s):  
Helin Wang
Keyword(s):  
Listed Companies ◽  
Corporate Value ◽  
Internal Governance ◽  
The Relationship

scholarly journals Multiple large shareholders and corporate fraud: evidence from China

2021 ◽  
Vol 15 (1) ◽  
Author(s):  
Xibo Zhao ◽  
Dan Yang ◽  
Zhengguang Li ◽  
Lynda Song
Keyword(s):  
Information Disclosure ◽  
Listed Companies ◽  
Corporate Fraud ◽  
Internal Governance ◽  
Controlling Shareholders ◽  
Mediating Role ◽  
Chinese Listed Companies ◽  
Large Shareholders ◽  
Control Right ◽  
The Relationship

AbstractThis study tests the effect of multiple large shareholders on the level of corporate fraud using the data of Chinese listed companies from 2010 to 2018. We find lower probabilities and lower corporate fraud frequencies when there are multiple large shareholders in Chinese listed companies, indicating that their presence plays a supervisory role in internal governance. These results persist after we control for endogeneity. Moreover, the effect of multiple large shareholders on corporate fraud is strengthened with the separation of control right and cash flow right. Further analyses reveal that companies with multiple large shareholders experience considerably reduced information disclosure fraud but no reduction in operating or leader frauds. Additionally, information asymmetry and the capital occupation of controlling shareholders both play a mediating role in the relationship between multiple large shareholders and the level of corporate fraud. This study enriches the literature on the determinants of corporate fraud and the effects of multiple large shareholders. Our findings also provide implications for companies and regulators regarding ways to reduce fraud.

scholarly journals The Relationship between Social Responsibility and Majority Shareholders’ Stock Selling: Considering the Mediation of Investors Tendency

2018 ◽  
Vol 6 (1) ◽  
pp. 12 ◽  
Author(s):  
Chuan Lin ◽  
Huan Chang ◽  
Huimin Zhu
Keyword(s):  
Stock Market ◽  
Social Responsibility ◽  
Listed Companies ◽  
Securities Market ◽  
Mediation Effect ◽  
Internal Governance ◽  
Inhibition Effect ◽  
The Social ◽  
The Relationship ◽  
Post Period

<p><em>Based on the research object of majority shareholders’ stock selling at the post period of equity division reform, this paper takes 8019 A-share listed companies in Shanghai and Shenzhen stock market from 2007-2013 as sample, empirically analysis the relationship between social responsibility and majority shareholders’ stock selling, and consider mediation effect of the investor tendency. The study found that from the point of internal governance effect, the better of social responsibility, the lower possibility of majority shareholders’ stock selling. At the same time, the lower of market reduction premium, the lower possibility of majority shareholders’ stock selling, after considering the influence of investors’ tendency, the inhibition effect of social responsibility will be magnified, which means securities market identity with the inhibition effect that comes from the social responsibility caused by listed companies’ internal. Further study found that majority shareholders will avoid stock selling during the period of the social responsibility reporting, and market investors will hold different attitudes toward majority shareholders for their first and continuous stock selling, and on their view, continuous stock selling is a “bad” event.</em></p>

Intellectual capital and performance of listed companies: empirical evidence from Italy

2014 ◽  
Vol 18 (1) ◽  
pp. 22-35 ◽  
Author(s):  
Domenico Celenza ◽  
Fabrizio Rossi
Keyword(s):  
Explanatory Power ◽  
Value Added ◽  
Listed Companies ◽  
Cross Sectional ◽  
Content Type ◽  
Accounting Performance ◽  
And Performance ◽  
The One ◽  
Two Stages ◽  
The Relationship

Purpose – The aim of this paper is to investigate the relationship between corporate performance and Value Added Intellectual Coefficient (VAICTM) on the one hand, and the relationship between the variations in market value and the variations in VAIC on the other hand. Design/methodology/approach – Starting from the VAIC model, 23 Italian listed companies were examined with the aim of investigating the relationship between VAIC and the performance of the firms in the sample. The analysis was divided into two stages. In the first stage, eight models of linear regression were estimated to verify the presence of a positive and statistically significant relationship between M/BV and VAIC and between accounting performance indicators (ROE, ROI, ROS) and the VAIC. In the second stage, six other models were tested, considering as an independent variable the variations in VAIC and the variations in profitability indicators. Findings – The outcomes of the application stress the importance of VAIC in the explanation of the variations in MV and its role as “additional coefficient” in the analysis of equity performance. Originality/value – This methodology highlights some very interesting aspects. In particular, whereas the relationship between M/BV and VAIC and between profitability indicators (ROI, ROE, ROS) and VAIC is statistically insignificant, the subsequent analysis highlights the importance of VAIC as a variable capable of increasing the explanatory power of the regression in a cross-sectional perspective.

scholarly journals Monitoring Mechanisms, Gender, and Information System Structure in Nigerian Non-Financial Listed Companies

2016 ◽  
Vol 11 (5) ◽  
pp. 129 ◽  
Author(s):  
Oluyemisi Rachael Arowolo ◽  
Ayoib Che-Ahmad
Keyword(s):  
Information System ◽  
Listed Companies ◽  
System Structure ◽  
Annual Reports ◽  
Internal Auditing ◽  
Minority Shareholders ◽  
Organizational Attributes ◽  
The Board Of Directors ◽  
Sub Saharan ◽  
The Relationship

Monitoring mechanisms are tools for companies to protect the interests of the shareholders, most especially, the minority shareholders from the deviant behaviour of the management and board members. This study examines the relationship between monitoring mechanisms (directorship, internal and external auditing), gender and information system structure in Nigerian non-financial listed companies. The empirical tests for the study are by quantitative analysis approach with data from annual reports and questionnaires (for information system structure and internal auditing not obtainable from annual reports). The findings reveal that both gender and information system structure significantly relates to monitoring mechanisms (directorship, internal auditing and external auditing). This empirical study adds to the literature on the antecedents of organizational attributes in respect of gender and information system structure as related to monitoring mechanisms, particularly in Sub-Saharan African. Likewise, the findings suggest policy implication for the board of directors regarding appropriate board composition and structuring of the information system of a company to mitigate agency problems.

Relationship between corporate governance and audit switching: Iranian evidence

2017 ◽  
Vol 59 (5) ◽  
pp. 673-686
Author(s):  
Mahdi Salehi ◽  
Ali Asgar Alinya
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Stock Exchange ◽  
Listed Companies ◽  
Panel Analysis ◽  
Cross Sectional ◽  
Content Type ◽  
Effective Factors ◽  
Dependent Variables ◽  
The Relationship

Purpose This paper aims to investigate the relationship between corporate governance and auditors switching of listed companies on the Tehran Stock Exchange. Design/methodology/approach To achieve the objectives of this study, 12 hypotheses developed which and tests the relationship between corporate governance and selecting and switching auditors in Iran during 2008-20014 by selecting 116 listed companies on the Tehran Stock Exchange. To test the hypotheses, the cross-sectional time-series nature of research variables data, panel analysis is used. Also, to investigate the relationship between independent and dependent variables in each year, the logistic regression is used. Findings The results of the study indicate that there is a weak relationship between corporate governance auditors switching. Therefore, it could be concluded that there are some other effective factors on which selecting and switching auditors in studied companies are more dependent. Originality/value The current study is almost the first study which has been conducted in Iran, so the results of the study may be beneficial to the Iranian conditions as well as other developing countries.

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