scholarly journals Determining firm characteristics and the level of voluntary corporate governance disclosures among Malaysian listed property companies

2018 ◽  
Vol 150 ◽  
pp. 05010
Author(s):  
Shabana Talpur ◽  
Mohd Lizam ◽  
Nazia Keerio
Keyword(s):  
Corporate Governance ◽  
Firm Size ◽  
Good Governance ◽  
Listed Companies ◽  
Annual Reports ◽  
Firm Characteristics ◽  
Firm Age ◽  
Governance Practices ◽  
Size Firm ◽  
Governance Disclosure

This study examined the level of voluntary corporate governance disclosures and the influence of firm characteristics (i.e., firm size, firm age, and firm market listing) on the level of these disclosures among Malaysian property listed companies. The check-list to measure the voluntary corporate governance disclosures was adopted from Malaysian corporate governance index 2011 by Minority Shareholder Watchdog Group (MSWG). The voluntary corporate governance disclosure practices and firm specific characteristics were obtained from annual reports of property listed companies on Bursa Malaysia for the period of 2012 to 2015. The findings suggested an improving voluntary corporate governance reforms in Malaysia. However, the firm size was found as an inflicting factor in determining the level and quality of voluntary corporate governance disclosure practices. On the contrary, the results found were contradicting the hypothesis related to firm age and firm market listing, as no relation of voluntary corporate governance disclosures and firm age and firm market listing. The study has made an interesting contribution toward the disclosure and corporate governance by contributing in understanding the importance of quality disclosure and good governance practices.

A theoretical and econometric evaluation of corporate governance and capital structure in JSE-listed companies

2019 ◽  
Vol 19 (5) ◽  
pp. 1063-1081 ◽  
Author(s):  
Navitha Singh Sewpersadh
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Audit Committee ◽  
Firm Growth ◽  
Listed Companies ◽  
Annual Reports ◽  
Ceo Duality ◽  
Content Type ◽  
Governance Practices ◽  
Director Ownership

PurposeA vital resource for attracting investments and boosting economic growth is compliance with corporate-governance practices. To achieve firm growth, businesses often rely on leverage as a source of finance, which has tax-saving benefits but could attract financial distress costs. In this context, this study aims to examine the relationship between corporate governance and the use of debt financing in Johannesburg Stock Exchange (JSE)-listed companies.Design/methodology/approachThis study used a six-year period to examine 713 annual reports in an unbalanced panel of 130 JSE-listed companies from 2011 to 2016. The empirical econometric methodology used was the two-step difference generalised method of moments estimation model, which is robust in controlling endogeneity and potential bi-directional causality between leverage and corporate governance.FindingsThis study illustrated that corporate governance practices and firm-specific variables such as profitability, firm size and firm age have a significant influence on the capital structure decisions of JSE-listed firms. This study found support for four out of the six hypotheses. CEO duality and director ownership are positively correlated with leverage, whereas audit committee independence and board size are negatively correlated with leverage. This study also found contraventions of board independence, audit committee independence and CEO duality. The technology sector was the least compliant, with only 40 per cent of their boards being independent. The consumer-services sector had the maximum presence of CEO duality (7 per cent). The industrial sector had the highest average director ownership (18 per cent). The heath-care sector had 28 per cent of their audit committees in contravention of the independence rule.Practical implicationsA useful analysis of the theoretical frameworks used by academic writers are provided. This study revealed the governance practices contravened by the relevant sectors, as well as the associations between corporate governance and leverage.Originality/valueThe study contributes to the literature on capital structure and corporate governance by an emerging economy such as South Africa (SA) which has not been explored. This study’s results have key implications for policy-makers, practitioners, investors and regulatory authorities. This study informs these constituencies about a set of governance attributes that are catalysts and/or inhibitors of leverage.

scholarly journals DO FINANCIAL RATIOS, FIRM CHARACTERISTICS AND CORPORATE GOVERNANCE AFFECT FIRM PERFORMANCE?

2019 ◽  
Vol 20 (1) ◽  
pp. 45-50
Author(s):  
JENNY ◽  
SILVY CHRISTINA
Keyword(s):  
Regression Analysis ◽  
Firm Performance ◽  
Firm Size ◽  
Stock Exchange ◽  
The Other ◽  
Debt Ratio ◽  
Firm Characteristics ◽  
Firm Age ◽  
Board Size ◽  
Size Firm

The purpose of this research is to provide evidence about variables that influence firm performance. These variables are board size, debt ratio, firm size, firm age, return on asset, and independent board. Sample of this research are 67 manufactured companies listed in Indonesia Stock Exchange. The sample selected using purposive method, during the 2013 until 2015. Hypothesis tested by using multiple regression analysis. In this research, firm performance were measured by Tobin’s Q. The result of this research shows that debt ratio, firm size, return on asset and independent board have influence on firm performance. The other variables such as board size and firm age have no influence on firm performance.

Effect of Firm Characteristics and Corporate Governance Practices on Earnings Management: Evidence from Publicly Listed Property Sector Firms in the Philippines

2020 ◽  
pp. 097226292095342
Author(s):  
Cynthia P. Cudia ◽  
Aeson L. Dela Cruz ◽  
Madeleine B. Estabillo
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Firm Size ◽  
Audit Quality ◽  
Discretionary Accruals ◽  
Cash Flows ◽  
The Philippines ◽  
Firm Characteristics ◽  
Ceo Duality ◽  
Governance Practices

Two types of earnings management (EM), opportunistic and efficient motive, were presented in the literature. This article aimed to investigate the type of EM employed by publicly listed property sector firms in the Philippines. Furthermore, the study also examined the effect of firm characteristics and corporate governance practices on firm’s level of EM using discretionary accruals. In conducting this study, panel data econometric technique, particularly the ordinary least squares was used to determine which among the firm-specific characteristics (profitability, leverage, cash flows from operations and firm size) or corporate governance mechanisms (CEO duality, board size, board independence and audit quality) significantly influence publicly listed property sector firms’ EM activities using discretionary accruals. Results show that these firms employ efficient type of EM. Also, cash flows from operations, firm size and CEO duality are statistically significant predictors of EM for property firms. Except for cash flows from operations, these results contradict with prior studies when the same model was subjected for industrial firms. Such similarities and differences from previous studies warrant for further analysis on the peculiarities and intrinsic characteristics of the industrial and property sector in the Philippines. Such will point to certain policy frameworks in enabling EM to be harnessed in satisfying the firms’ bottom lines.

scholarly journals Roles of board of directors: Evidence from Malaysian listed companies

2009 ◽  
Vol 5 (1) ◽  
pp. 22-36 ◽  
Author(s):  
Hasnah Kamardin ◽  
Hasnah Haron
Keyword(s):  
Firm Performance ◽  
Board Of Directors ◽  
Firm Size ◽  
Descriptive Analysis ◽  
Listed Companies ◽  
Annual Reports ◽  
Outside Directors ◽  
Test Analysis ◽  
Governance Practices ◽  
The Board Of Directors

This study examines the extent of roles played by the board of directors (BOD) in Malaysian listed companies and the significant differences on the roles based on the company characteristics and board characteristics: firm size, leverage, growth, firm performance (ROA), family controlled companies, and CEO duality. Data are gathered from two sources whereby questionnaires are used to ascertain the extent of BOD participation in the board roles in the financial year 2006 and companies’ annual reports are used to gather financial and board data. Using a sample of 112 companies, descriptive analysis shows that BOD mostly performs greater monitoring roles, other than performance evaluation. Strategy roles focus more on reviewing company’s strategic plan and defining company’s vision. Outside directors are required to focus on protecting shareholders’ interests, provide a balanced view, and have strategic thinking capabilities. The results of t-test analysis indicate that to some extent the roles played by the BOD are significantly different in terms of firm size, firm performance and family companies. The results have some implications to the corporate governance practices.

scholarly journals THE IMPACT OF CORPORATE GOVERNANCE ON FINANCIAL PERFORMANCE OF LEBANESE BANKS

2021 ◽  
pp. 70-85
Author(s):  
Bilal Jibai
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Direct Relationship ◽  
Annual Reports ◽  
Quantitative Methodology ◽  
Substantial Evidence ◽  
New Knowledge ◽  
Governance Practices ◽  
The Impact ◽  
Governance Disclosure

The aim of this research is to study the impact of corporate governance disclosure on the financial performance of Lebanese banks. The impacts of corporate governance consequences on financial performance are the problem being faced by many firms. This research applies a quantitative methodology to the data from 29 banks’ annual reports for the year 2018. This data was analyzed using regression analysis means. This empirical study intends to find substantial evidence which would help acquire new knowledge and better understanding of how virtuous corporate governance practices and disclosures may help improve banks’ performance. In particular, validation of our research hypotheses may help with assessing the importance of corporate governance disclosure for the financial performance of Lebanese banks. The research proves there is a direct relationship between diversity on board and financial performance, as well as, between frequency of Board meetings and financial performance.  

PENGARUH STRATEGI BISNIS DAN KARAKTERISTIK PERUSAHAAN TERHADAP MANAJEMEN LABA

2018 ◽  
Vol 13 (2) ◽  
pp. 91
Author(s):  
Dewi Kusuma Wardani ◽  
Pipit Dayu Isbela
Keyword(s):  
Earnings Management ◽  
Firm Size ◽  
Business Strategy ◽  
Stock Exchange ◽  
Industrial Sector ◽  
Firm Characteristics ◽  
Firm Age ◽  
Negative Effect ◽  
Size Firm ◽  
Positive Effect

ABSTRACTThis study aims to examine and analyze the influence of business strategy and firm characteristics (firm size, leverage, age of company and profitability) to earnings management. Population in this research is manufacturing company of industrial sector of consumer goods listed in Indonesia Stock Exchange year 2012 until 2016. Selection of sample by using purpsive sampling method and there are 16 companies that meet the required sample criteria. The method used in this study is multiple regression. The results of this study indicate that leverage has a significant positive effect on earningsmanagement and firm age has a significant negative effect on earnings management, while firm size, firm age and profitability have no significant effect on earnings managementABSTRAKPenelitian ini bertujuan untuk menguji dan menganalisis pengaruh dari strategi bisnis dan karakteristik perusahan (ukuran perusahaan, leverage, umur perusahaandan profitabilitas) terhadap manajemen laba. Populasi dalam penelitian ini adalah perusahaan manufaktur sektor industri barangkonsumsi yang terdaftar di Bursa Efek Indonesia tahun 2012 sampai 2016. Pemilihan sampel dengan menggunakan metode purpsive sampling dan terdapat 16 perusahaan yang memenuhi kriteria sampel yang dibutuhkan. Metode yang digunakan dalam penelitian ini adalah regresi berganda. Hasil penelitian ini menunjukkan bahwa leverage berpengaruh signifikan positif terhadap manajemen laba dan umur perusahaan berpengaruh signifikan negatif terhadap manajemen laba, sedangkan ukuran perusahaan, umur perusahaan dan profitabilitas tidak berpengaruh signifikan terhadap manajemen laba.

Corporate Governance Practices and Firm Performance in Emerging Markets: Empirical Insights from India and Gulf Countries

2021 ◽  
pp. 097226292110257
Author(s):  
Waleed M. Al-ahdal ◽  
Faozi A. Almaqtari ◽  
Mosab I. Tabash ◽  
Abdulwahid Abdullah Hashed ◽  
Ali T. Yahya
Keyword(s):  
Corporate Governance ◽  
Positive Impact ◽  
Emerging Market ◽  
Secondary Data ◽  
Listed Companies ◽  
Annual Reports ◽  
Board Structure ◽  
Gulf Countries ◽  
Governance Practices ◽  
The Impact

The purpose of this article is to analyse the impact of corporate governance practices on the performance of listed firms from countries like India and the Gulf countries. This research study relies on secondary data collected from annual reports of 100 companies covering 8 years, from 2010 to 2017, using manual content analysis. Fifty non-financial listed companies from each emerging market were selected; the selection is based on the market capitalization. Findings from countries’ dummy indicate that Indian companies perform better in corporate governance practices than Gulf countries. Moreover, corporate governance practices negatively impact Indian and Gulf countries’ firms’ performance measured by return on assets (ROA), except for governance effectiveness (GE) that has a positive impact. In contrast, corporate governance measured by board structure (BS) is negatively affected by the performance of Indian and Gulf countries’ listed companies measured by Tobin’s Q (TQ), whereas transparency and disclosure (TD), leverage (LEV) and GE have a positive impact. The results have implications for managers and policyholders to understand the corporate governance practices and their relationships with performance. Based on the best knowledge of the authors, this is one of the first studies that addresses the comparison between India and Gulf Cooperation Council (GCC) countries.

PENGARUH KARAKTERISTIK PERUSAHAAN DAN CORPORATE GOVERNANCE (CG) TERHADAP PENGUNGKAPAN SUSTAINABILITY REPORT

2012 ◽  
Author(s):  
Gita Maya Safira ◽  
Novia Rahmawati
Keyword(s):  
Corporate Governance ◽  
Quantitative Analysis ◽  
Firm Size ◽  
Audit Committee ◽  
Stock Exchange ◽  
Corporate Sustainability ◽  
Firm Age ◽  
Sustainability Disclosure ◽  
Size Firm ◽  
Sustainability Report

This study aims to determine the influence of company characteristics and disclosure practices of corporate governance to corporate sustainability report on manufacturing in Indonesia Stock Exchange. In this study the sample was 48 companies manufacturing in Indonesia Stock Exchange. Type of data used secondary adala obtained from the Indonesian Capital Market of Directory (ICMD) and the Annual Report. Observation period is used of the year 2006 to 2010. In this study the researchers classifying the research variables menjad two main groups. The first independent variable consisting of leverage, aktitas ratio, firm size, firm age and the audit committee. The second is the dependent variable is the practice of sustainability disclosure report. The method used is a quantitative analysis that is processed by using the method of quantitative analysis. Based on the results of hypothesis testing study found that each used variable is leverage, activity ratio, firm size, firm age and the audit committee had no significant effect on the sustainability report disclosure practices of manufacturing firms in Indonesia Stock Exchange.

scholarly journals An analysis of corporate governance information disclosure by Canadian banks

2008 ◽  
Vol 5 (2) ◽  
pp. 225-236 ◽  
Author(s):  
Michael Maingot ◽  
Daniel Zeghal
Keyword(s):  
Corporate Governance ◽  
Web Sites ◽  
Information Disclosure ◽  
Complete Information ◽  
Annual Reports ◽  
Online Information ◽  
Web Page ◽  
Governance Practices ◽  
Corporate Web Sites ◽  
Governance Disclosure

The study reports on the disclosure of governance information by Canadian banks. The information was found through their corporate Web sites. The online information was taken from the Corporate governance Web page and through the annual reports and the proxy circulars. We focused on the disclosure of the corporate governance practices implemented by our sample of 8 banks. A coding sheet was developed to evaluate the corporate governance disclosure of our sample. Our analysis indicates that the bigger the bank, the more disclosure there is. Overall, our results suggest that the choices to disclose and the extent of disclosure are influenced by the strategic considerations of management. We also found that, to be able to find full and complete information on governance, the investor should refer to the annual reports and the proxy circulars and not only focus on the corporate governance Web page.

scholarly journals Corporate Governance and Cash Holdings: Empirical Evidence from an Emerging Country, Sri Lanka

2017 ◽  
Vol 7 (2) ◽  
pp. 112 ◽  
Author(s):  
Alagathurai Ajanthan ◽  
KGA Udhaya Kumara
Keyword(s):  
Corporate Governance ◽  
Financial Management ◽  
Gender Diversity ◽  
Cash Holdings ◽  
Listed Companies ◽  
Annual Reports ◽  
Sri Lankan ◽  
Cash Holding ◽  
Governance Practices ◽  
And Gender

This study examines the influence of corporate governance practices on cash holdings of Sri Lankan listed companies. It develops hypotheses about the relationship between cash holding and corporate governance practices such as size, frequency of meetings, independence, independent chair and gender diversity. Using multiple regression analysis on data collected from the corporate annual reports of 90 listed companies, the study finds that corporate governance practices such as board size and gender diversity have a significant negative influence on cash holdings as well as independent chair has a significant positive influence on cash holdings. However, there is no evidence that board meetings affect cash holding in Sri Lankan companies. The study contributes to the literature on the factors that make variation in the amount of cash holding of the listed company and it may be useful for financial managers, business analyst, financial controller, operations managers, investors, financial management consultants and other stakeholders.

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