A Study on Board Characteristics and Corporate Performance of Indian Oil and Gas Upstream Companies - Evolving a Board Performance Culture Maturity Model

But knowing the unknown and therefore estimating the relationship between accounting information quality and corporate performance are still a difficult task. The aim of this empirical study is to explore the relationship between the accounting information quality and corporate performance of oil and gas companies in Nigeria. Data on different types of accounting information quality and return on equity were primarily collected from the respondents and analyzed using ordinary least square regression analysis the data with the aid of statistical package for social sciences version 25.0. The empirical result indicates that accounting information quality significantly relate to return n equity; explaining about 85.1% of the total variation in return and equity. Relevance, faithful representation was each found to significantly relate to return on equity. The study empirically conclude that accounting information quality has the potency to make significant contribution to quoted financial performance of oil and gas companies and recommends that having investigated theoretical and empirical issues, also considering the findings and conclusion, the following recommendations were made: There should be need for preparers of accounting information to improve on the accounting information quality devoid of window dressing and creative accounting, regular disclosure, transparency and accountability of such accounting information is required since investors are sensitive to qualitative and quantitative accounting information in assessing the performance of quoted oil companies in and outside Nigeria. Also in line with qualitative and quantitative of accounting information quality, financial statements of quoted oil companies in Nigeria should be prepared and presented according to laid down regulations and ethical standards duly observed to ensure accounting information presented for among users, most and public consumption do represent the oil companies’ economic reality during reported periods.

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Effects of board characteristics, audit committee and risk management on corporate performance: evidence from Palestinian listed companies

International Journal of Islamic and Middle Eastern Finance and Management ◽

10.1108/imefm-12-2017-0347 ◽

2020 ◽

Vol 13 (4) ◽

pp. 691-706

Author(s):

Sami R.M. Musallam

Keyword(s):

Risk Management ◽

Audit Committee ◽

Corporate Performance ◽

Emerging Market ◽

Chief Executive ◽

Least Square Method ◽

Listed Companies ◽

Least Square ◽

Content Type ◽

Board Characteristics

Purpose This paper aims to investigate the effects of board characteristics, audit committee and risk management on corporate performance. Design/methodology/approach Using a sample of 31 Palestinian non-financial listed companies from 2010 to 2016, this study uses a generalized least square method. Findings The results show that the effects of board ownership, board independence, audit committee meeting, audit committee size, audit committee financial expertise and risk management are positive and significant on corporate performance while the effects of chief executive officer duality and audit committee size are negative and significant on corporate performance. Practical implications The results of this paper are important to policymakers, shareholders and directors of companies to make appropriate choices about the board, audit committee characteristics and risk management to protect the interest of different stakeholders, increase the flow of capital and foreign investment into non-financial companies. Social implications This paper fills a gap in the corporate governance literature by investigating the effects of board characteristics, audit committee and risk management on corporate performance in Palestine as one of the youngest stock exchanges in a region that assists in testing the validity of agency theory in a young and small emerging market context. Originality/value This paper is the first to investigate the effects of board characteristics, audit committee and risk management collectively on corporate performance in Palestine as prior research on these topics has been investigated separately.

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Systems thinking and CMM for continuous improvement in the construction industry

International Journal of Productivity and Performance Management ◽

10.1108/ijppm-11-2018-0417 ◽

2019 ◽

Vol 69 (2) ◽

pp. 271-296 ◽

Cited By ~ 2

Author(s):

Temitope Seun Omotayo ◽

Prince Boateng ◽

Oluyomi Osobajo ◽

Adekunle Oke ◽

Loveline Ifeoma Obi

Keyword(s):

Continuous Improvement ◽

Financial Risk ◽

System Thinking ◽

Management Policy ◽

Maturity Model ◽

Structured Interviews ◽

Content Type ◽

Performance Culture ◽

Construction Companies ◽

Capability Maturity

Purpose The purpose of this paper is to present a capability maturity model (CMM) developed to implement continuous improvement in small and medium scale construction companies (SMSCC) in Nigeria. Design/methodology/approach A multi-strategy approach involving qualitative studies of SMSCC in Nigeria was conducted. Semi-structured interviews were conducted with purposively selected construction experts in Nigeria to identify variables essential for continuous improvement in SMSCC. Data collected were thematically analysed using NVIVO. Subsequently, a system thinking approach is employed to design and develop the CMM for implementing continuous improvement SMSCC, by exploring possible relationships between the variables established. Findings CMM provided a five-level approach for the inclusion of investigated variables such as team performance; culture; structure; post-project reviews, financial risk management, waste management policy and cost control. These variables are factors leading to continuous improvement in SMSCC, implementable within a six to seven and a half years’ timeline. Practical implications The system thinking model revealed cogent archetypes in the form of reinforcing loops that can be applied in developing the performance of SMSCC. Continuous improvement is feasible. However, it takes time to implement. Further longitudinal studies on the cost of implementing continuous improvement through CMM a knowledge transfer project can be initiated. Originality/value A methodical strategy for enhancing the effectiveness and operations of SMSCC in developing countries can be extracted from the causal loop diagram and the CMM.

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Building a High Performance Culture in a New Oil and Gas Joint Venture

10.2118/172701-ms ◽

2015 ◽

Author(s):

Marwah Al Saad

Keyword(s):

High Performance ◽

Joint Venture ◽

Oil And Gas ◽

Performance Culture

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Effect of board characteristics on firm value: evidence from India

South Asian Journal of Business Studies ◽

10.1108/sajbs-08-2016-0073 ◽

2018 ◽

Vol 7 (1) ◽

pp. 41-72 ◽

Cited By ~ 4

Author(s):

Rakesh Kumar Mishra ◽

Sheeba Kapil

Keyword(s):

Corporate Governance ◽

Firm Performance ◽

Firm Value ◽

Structural Equation ◽

Corporate Performance ◽

Equation Modeling ◽

Significant Positive Association ◽

Data Set ◽

Content Type ◽

Board Characteristics

Purpose The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies. Design/methodology/approach Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Structural equation modeling methodology has been employed on data for five financial years from 2010 to 2014 for selected companies. Market-based measure (Tobin’s Q) and accounting-based measure (return on asset) have been employed for measuring firm performance. Findings Empirical findings indicate that there is significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of CEO and chairman of the board is found to be value creating and overburdened directors affect firm performance adversely. Findings also suggest that the governance-performance relationship is also dependent upon the type of performance measures used in the study. Research limitations/implications Limitations of this study are in terms of data methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decisions-making process adopted by the boards to fight competition or to increase market share is not available in public domain easily. The decision-making processes and monitoring for implementation of these decisions could impact corporate governance-performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. However, the same could have thrown more light on governance-performance relationship. Originality/value The paper adds to the emerging body of literature on corporate governance-performance relationship in the Indian context using a reasonably wider and newer data set.

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A Critical Review of Smart Manufacturing & Industry 4.0 Maturity Models: Applicability in the O&G Upstream Industry

10.3233/atde210060 ◽

2021 ◽

Author(s):

Chinedu Onyeme ◽

Kapila Liyanage

Keyword(s):

Industry 4.0 ◽

Manufacturing Industry ◽

Oil And Gas ◽

Manufacturing Sector ◽

Transition Process ◽

Smart Manufacturing ◽

Maturity Model ◽

Business Organizations ◽

Initial State ◽

Maturity Models

The shift towards Industry 4.0 is a fundamental driver of improved changes observed in today’s business organizations. The difficulties in adapting to this new approach pose challenges for many companies especially in the oil and gas (O&G) upstream sector. To make this path much feasible for companies in this industry, Maturity Models (MMs) are very useful tools in achieving this following their use in evaluation of the initial state of a company for planned development journey towards Industry 4.0 (I4.0) readiness and implementation. Study shows that only a limited number of O&G specific roadmaps, MMs, frameworks and readiness assessments are available today. This paper aims to review the currently available Industry 4.0 MMs for manufacturing industries and analyze their applicability in the O&G upstream sector using the systematic literature review (SLR) methodology, recognizing the specific requirements of this industry. The study looks at the key characteristic for O&G sector in relation to the manufacturing sector and identifies research gaps needed to be addressed to successfully support the O&G sector in readiness for Industry 4.0 implementation. An Industry 4.0 maturity model that reflects the industrial realities for the O&G upstream sector more accurately from insights drawn from the reviews of existing MMs is proposed. This reduces the challenges of the transition process towards Industry 4.0 and provides support for the critical change desired for improved efficiency in the sector.

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Study on Executives' Replacement, Corporate Performance, and Board Characteristics of Real Estate Listed Companies

ICCREM 2013 ◽

10.1061/9780784413135.079 ◽

2013 ◽

Author(s):

Yufen Xie ◽

Ying Chang ◽

Cong Li

Keyword(s):

Real Estate ◽

Corporate Performance ◽

Listed Companies ◽

Board Characteristics

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Board characteristics and firm value for Indian companies

Journal of Indian Business Research ◽

10.1108/jibr-07-2016-0074 ◽

2018 ◽

Vol 10 (1) ◽

pp. 2-32 ◽

Cited By ~ 4

Author(s):

Rakesh Kumar Mishra ◽

Sheeba Kapil

Keyword(s):

Decision Making ◽

Corporate Governance ◽

Firm Performance ◽

Firm Value ◽

Corporate Performance ◽

Strategic Decision ◽

Tobin’S Q ◽

Tobin's Q ◽

Content Type ◽

Board Characteristics

Purpose This paper aims to explore the relationship between board characteristics and firm performance for Indian companies. Design/methodology/approach Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on asset [ROA]). Findings The empirical findings indicate that the market-based measure (Tobin’s Q) is more impacted by corporate governance than the accounting-based measure (ROA). There is a significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of chief executive officer and chairman of the board is found to be value-creating, and overburdened directors affect firm performance adversely. Research limitations/implications Limitations of the study are in terms of methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decision-making process adopted by the boards to fight competition or to increase market share is not easily available in public domain. The decision-making processes and monitoring for implementation of those decisions could impact corporate governance performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. Originality/value The paper adds to the emerging body of literature on corporate governance performance relationship in the Indian context by using a reasonably wider and newer data set.

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