scholarly journals The Productivity and Efficiency of Vietnamese Securities Firms, 2009 to 2017

2020 ◽  
Vol 7 (4) ◽  
pp. 101
Author(s):  
My Tran ◽  
Malcolm Abbott
Keyword(s):  
Negative Correlation ◽  
Ownership Structure ◽  
Positive Impact ◽  
Significant Negative Correlation ◽  
Foreign Ownership ◽  
Productive Efficiency ◽  
Size Regulation ◽  
Institutional Shareholders ◽  
The Impact

This paper provides an examination of the impact of size, regulation and ownership structure on the productivity and efficiency of 53 securities firms in Vietnam in the years 2009 to 2017. The results show that the size of the firms and regulation has an impact on the performance of the firms. Foreign ownership also has a significant negative correlation with the firms’ efficiency, while majority ownership by domestic Vietnamese, individual shareholders (as opposed to ownership by institutional shareholders) has a positive impact. In contrast, there is no significant correlation between ownership by banks and the productive efficiency of the firms.

scholarly journals Ownership structure and corporate diversification decision: a study of Vietnamese listed firms

2016 ◽  
Vol 13 (3) ◽  
pp. 226-233 ◽  
Author(s):  
Duc Nam Phung ◽  
Thi Bich Nguyet Phan ◽  
Thi Lien Hoa Nguyen ◽  
Thi Phuong Vy Le
Keyword(s):  
Ownership Structure ◽  
Negative Impact ◽  
Positive Impact ◽  
Emerging Market ◽  
Foreign Ownership ◽  
State Ownership ◽  
Corporate Diversification ◽  
Diversification Strategy ◽  
Listed Firms ◽  
The Impact

This research examines the impact of the ownership structure on corporate diversification decision of listed firms in Vietnam over the period of 2007 and 2012. The empirical results from logit model show that while state ownership has positive impact on corporate diversification decisions of the firms, foreign ownership has negative impact on corporate diversification decision of the firms. This implies that government ownership tends to encourage corporate diversification strategy, while foreign ownership may plays monitoring role and discourage corporate diversification strategy in emerging market context.

scholarly journals Research on Foreign Ownership Applied in R&D Investment of Chinese GEM Companies

2016 ◽  
Vol 2 (1) ◽  
pp. 161
Author(s):  
Ying Wang
Keyword(s):  
Regression Model ◽  
Negative Correlation ◽  
Ownership Structure ◽  
Foreign Ownership ◽  
Company Size ◽  
Enterprise Performance ◽  
Correlation Relationship ◽  
Operating Income ◽  
The Impact ◽  
D Investment

This paper is to explore that if foreign ownership exactly affects on R&D investment of Chinese GEM companies. We use six variables, including RDS (the ratio of R&D and operating income), the proportion of foreign ownership, company size (the logarithm of total assets), gearing ratio, the proportion of the top five shareholders, and the location, to construct the regression model to verify the impact of foreign ownership on R&D investment for 153 listed firm sample during 2009-2014, which has removed companies without R&D investment. We find that foreign ownership and enterprise R&D investment indeed exists positive correlation, but not significantly; further investigation found that foreign ownership will not improve enterprise performance when it promotes R&D investment, but exist a negative correlation relationship. Therefore, such a relationship is important for company to control the proportion of foreign ownership to manage the ownership structure.

scholarly journals A Study on Ownership Structure and Financial Performance of Listed Beverage Food and Tobacco Companies in Sri Lanka

2017 ◽  
Vol 7 (2) ◽  
pp. 36
Author(s):  
Saseela Balagobei ◽  
Thirunavukkarasu Velnampy
Keyword(s):  
Sri Lanka ◽  
Financial Performance ◽  
Ownership Structure ◽  
Relevant Literature ◽  
Foreign Ownership ◽  
Study Data ◽  
Secondary Sources ◽  
Correlation And Regression Analysis ◽  
Corporate Governance Mechanisms ◽  
The Impact

The relevant literature suggests that ownership structure is one of the main corporate governance mechanisms influencing the scope of financial performance. The aim of this study is to investigate the relationship between ownership structure and financial performance of listed beverage food and tobacco companies for the period of 2010-2015. This study also examines the impact of ownership structure on financial performance. The sample consists of 10 listed beverage food and tobacco companies in Sri Lanka. In this study, data was collected from secondary sources and hypotheses are examined by using Pearson’s correlation and regression analysis. The results reveal that ownership concentration and foreign ownership structure are positively correlated with financial performance of listed beverage food and tobacco companies while institutional ownership structure isn’t significantly correlated with financial performance. It is also found that there is a significant impact of foreign ownership structure on financial performance. Higher the foreign ownership structure in listed beverage food and tobacco companies, the higher the financial performance which is preferable for the shareholders and it improves the wealth of companies.

scholarly journals Impact of the Ownership Structure on the Financial Performance of Banks: Comparative Study between Conventional and Islamic Banks

2019 ◽  
Vol 4 (2) ◽  
pp. 50-63
Author(s):  
Achraf Haddad ◽  
Anis El Ammari ◽  
Abdelfattah Bouri
Keyword(s):  
Financial Performance ◽  
Ownership Structure ◽  
Least Squares Method ◽  
Conflicts Of Interest ◽  
Positive Impact ◽  
Ordinary Least Squares ◽  
Performance Measure ◽  
Islamic Banks ◽  
Two Samples ◽  
The Impact

According to the literature of corporate governance, ownership structure is advanced as a non-dissociable mechanism of control intended to follow the stakeholders and especially used by shareholders to monitor the conflicts of interest and the opportunistic behavior of managers. Several previous studies have focused on the impact of ownership structure on financial performance separately in conventional or in Islamic banks. However, the comparative studies between these two impacts are non-existent. In this research, we compared the impacts of this governance mechanism on the financial performance in the two types of banks by using the Ordinary Least Squares method. Data relating to financial performance and ownership structure of banks come from 16 countries. Two samples were collected: the first one included 63 conventional banks, whereas the second one integrated 63 Islamic banks whose data are available over the period (2010-2018). Panel results showed that partial effect of each determinant of ownership structure on each measure of financial performance varied from one banks’ type to another and from one performance measure to another. Besides, the reconciliation of similar models revealed many differences between the same impacts’ signs. Therefore, we concluded that in both banks’ types the ownership structure has a positive impact on the financial performance. While, the negative part of the same impact is less significant in Islamic banks. JEL Classification:  F33, G20, G21, G24, G30.

scholarly journals Association of Internet Use with Attitudes Toward Food Safety in China: A Cross-Sectional Study

2019 ◽  
Vol 16 (21) ◽  
pp. 4162 ◽  
Author(s):  
Jiaping Zhang ◽  
Zhiyong Cai ◽  
Mingwang Cheng ◽  
Huirong Zhang ◽  
Heng Zhang ◽  
...  
Keyword(s):  
Food Safety ◽  
Negative Correlation ◽  
Information Acquisition ◽  
Internet Use ◽  
Safety Evaluation ◽  
Significant Negative Correlation ◽  
Cross Sectional ◽  
People’S Attitudes ◽  
The Impact ◽  
Food Safety Evaluation

A growing body of research has shown that people’s attitudes toward food safety is affected by their availability and accessibility to food risk information. In the digital era, the Internet has become the most important channel for information acquisition. However, empirical evidence related to the impact of Internet use on people’s attitudes towards food safety is inadequate. In this study, by employing the Chinese Social Survey for 2013 and 2015, we have investigated the current situation of food safety perceptions and evaluations among Chinese residents and the association between Internet use and individuals’ food safety evaluations. Empirical results indicate that there is a significant negative correlation between Internet use and people’s food safety evaluation in China. Furthermore, heterogeneity analysis shows that Internet use has a stronger negative correlation with food safety evaluation for those lacking rational judgment regarding Internet information. Specifically, the negative correlation between Internet use and food safety evaluations is more obvious among rural residents, young people, and less educated residents. Finally, propensity score matching (PSM) is applied to conduct a robustness check. This paper provides new evidence for studies on the relationship between Internet use and an individuals’ food safety cognition, as well as additional policy enlightenment for food safety risk management in the digital age.

scholarly journals Exploring the Impact of Ownership Structure on Earnings Predictability: Insights from Japan

2016 ◽  
Vol 9 (2) ◽  
pp. 97-121
Author(s):  
Mohammed Mehadi Masud Mazumder
Keyword(s):  
Ownership Structure ◽  
Earnings Quality ◽  
Insider Ownership ◽  
Listed Firms ◽  
Reporting Practices ◽  
Corporate Reporting ◽  
Earnings Predictability ◽  
Institutional Shareholders ◽  
The Impact ◽  
The Relationship

Using a very recent data over the period from 2007 to 2012 (sample period 2001–2012), this study estimates the relationship between ownership structure and earnings predictability in Japanese listed companies. In particular, this study investigates how three important categories of ownership (i.e., domestic institutional, foreign and insider ownership) are associated with earnings predictability in Japanese listed firms. The results show that higher domestic institutional (financial) ownership is associated with greater earnings predictability. The findings support the argument that institutional shareholders especially financial institutions ensure effective monitoring over corporate reporting practices which lead to better earnings quality. In sharp contrast, this study finds that incremental foreign institutional ownership in Japanese listed firms is associated with lower earnings predictability. Such finding is contrary to the oversimplifying assumption that increasing cross-border shareholdings is always associated with better earnings quality. This study demonstrates interesting insights regarding the impact of ownership structure on earnings predictability which surely carry significance for Japanese corporate policymakers and future researchers.

scholarly journals Impact of Ownership Structure on Bank Risk Taking: A Comparative Analysis of Conventional Banks and Islamic Banks of Pakistan

2021 ◽  
Vol 4 (1) ◽  
pp. 175-181
Author(s):  
ARIF HUSSAIN ◽  
DR. ALAM REHMAN ◽  
AQSA SIDDIQUE ◽  
HASEEB UR REHMAN
Keyword(s):  
Ownership Structure ◽  
Risk Taking ◽  
Positive Impact ◽  
Institutional Ownership ◽  
Foreign Ownership ◽  
Bank Risk ◽  
Managerial Ownership ◽  
Islamic Banks ◽  
Block Holders ◽  
Conventional Banks

This study is about the impact of ownership structure on bank risk taking with comparison between conventional banks and Islamic banks of Pakistan. Z-Score and SDROA are used as risk taking variables. While managerial ownership, institutional ownership, foreign ownership and block holders were taken as proxies for ownership structure. Ten private commercial banks and four Islamic banks were randomly selected and data have been collected from annual reports of these banks from 2010 to 2016. The result suggested that all the proxies of ownership structure i.e. managerial ownership, institutional ownership, foreign ownership and block holders have significant positive impact on Z-Score. On the other hand using SDROA as proxy for risk taking the proxies of managerial ownership has significant positive impact on SDROA and institutional ownership has significant negative impact on SDROA of banks in Pakistan. On the other hand foreign ownership and block holders have insignificant impact on SDROA. The result of BankID is significant which shows that ownership structure has significant impact on bank risk taking in conventional banks while in Islamic banks ownership structure doesn’t have any significant impact on bank risk.

scholarly journals The Role of Ownership Structure and Board Characteristics in Stock Market Liquidity

2021 ◽  
Vol 9 (4) ◽  
pp. 74
Author(s):  
Wajih Abbassi ◽  
Ahmed Imran Hunjra ◽  
Suha Mahmoud Alawi ◽  
Rashid Mehmood
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Ownership Structure ◽  
Positive Impact ◽  
Generalized Method Of Moments ◽  
Fixed Effect Model ◽  
Market Liquidity ◽  
Board Characteristics ◽  
Stock Market Liquidity ◽  
The Impact

Corporate governance plays a significant role in the value of shareholders and share prices, hence stock market liquidity is affected. Previous research has mainly focused on the issue in developed markets, whereas in developing countries there is a need to analyze the influence of corporate governance on stock market liquidity. Therefore, the present study aims to examine the impact of ownership structure and board characteristics on stock market liquidity of non-financial firms of South Asian countries such as Pakistan, Sri Lanka, Bangladesh, and India. The data in the study is collected from the DataStream for the 2011–2020 period. The study uses a fixed effect model for the analysis of the data and hypotheses testing and generalized method of moments (GMM) is used to check the robustness of the results. The findings of the study indicate that institutional ownership, board size, board independence, and CEO duality have a significant and positive impact on stock market liquidity, whereas managerial ownership has a significant and negative effect on stock market liquidity.

scholarly journals The Small Property Rights Housing Institution in Mainland China: The Perspective of Substitutability of Institutional Functions

Land ◽  
2021 ◽  
Vol 10 (9) ◽  
pp. 915
Author(s):  
Ziqi Zhou ◽  
Yung Yau
Keyword(s):  
Property Rights ◽  
Negative Correlation ◽  
Social Housing ◽  
Mainland China ◽  
Significant Negative Correlation ◽  
Combined Model ◽  
Commercial Housing ◽  
The Impact ◽  
The Relationship ◽  
Institutional Credibility

Despite its informal nature, small property rights housing (SPRH) proliferates in many Chinese cities. Given the institutional functions of the SPRH institution, it may not be desirable for the state to intervene in the SPRH sector. However, the institutional credibility and the institutional functions of SPRH are not completely endogenous, which contradicts the assumption of the credibility thesis. Based on the framework of the credibility thesis, this paper proposes the concept of the substitutability of institutional functions and develops a framework integrating the concepts of substitutability and credibility to examine the influence of functional substitutability on institutional credibility. Research hypotheses were tested with the data collected through a questionnaire survey on SPRH residents in Shenzhen and Chenzhou (n = 458). The analysis results of the combined model suggest that the supportive perceptions of actors for SPRH and the credibility of SPRH are significantly related to the substitutability of SPRH’s functions. The effect of the substitutability of social housing on credibility is found insignificant, while the impact of the substitutability of commercial housing on credibility is significant. However, the analysis results are city-specific. A significant negative correlation is found between the substitutability of formal housing institutions and the credibility of SPRH in Chenzhou but not in Shenzhen. This study attempted to refine the credibility thesis by clarifying the relationship between institutional functions and institutional credibility and examining the endogeneity of credibility.

The relationship between ownership structure and firm financial performance

2018 ◽  
Vol 25 (1) ◽  
pp. 319-333 ◽  
Author(s):  
Tariq Tawfeeq Yousif Alabdullah
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Emerging Economies ◽  
Ownership Structure ◽  
Foreign Ownership ◽  
Fiscal Year ◽  
Content Type ◽  
Firm Financial Performance ◽  
The Impact ◽  
Practical Implications

Purpose Previous studies that dealt with corporate governance have witnessed gradually significant growth that created some new trends. The purpose of this paper is to be involved in such trends through examining the link between ownership structure as one of the important corporate governance mechanisms and firm performance in Jordan as one of emerging economies. Design/methodology/approach The current study used the multiple regression method to analyze available data for non-financial firms listed in the Amman Stock Exchange for the fiscal year 2012. Findings The findings revealed that managerial ownership has a positive impact on performance. On the other hand, the findings surprisingly showed no evidence to support the impact of foreign ownership on performance. Moreover, there is a significant evidence to support the fact that company size has no impact on firm performance. The findings also revealed that industry type has no impact on firm performance. Practical implications The practical implications of the current study demonstrated that good corporate governance is imperative to all organizations and must be encouraged for the interest of all stakeholders. Unlike the majority of the previous studies, the current study unexpectedly found that foreign ownership is not significantly contributing to the firm performance. Thus, Jordanian Government and other related/responsible parties should formulate policies for the foreign investors. Originality/value Interestingly, from developed and developing countries perspective, the study is the first of its kind that exclusively chose the mechanisms of ownership structure in its relationship with firm performance represented by market share, where no previous study has tested foreign ownership in such relationship. In that, this study is the first study in emerging economies to investigate such a link. Such new insights on this relationship by current study provide helpful information that is of great value to the government, academics, policy makers, and other stakeholders.

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