scholarly journals Board structure and firm performance: Some evidence from malaysian government linked companies

2014 ◽  
Vol 12 (1) ◽  
pp. 345-351
Author(s):  
Tee Chwee Ming ◽  
Lee Lee Chong
Keyword(s):  
Firm Performance ◽  
Positive Association ◽  
Board Structure ◽  
High Performing ◽  
Green Book ◽  
Board Reform ◽  
The Impact ◽  
Malaysian Government

This paper examines the impact of Green Book high performing board reform on GLCs fim performance. Based on a sample of 220 firm-year observations of listed GLCs from 2006 till 2012, this study shows that (i) there is a positive association between multiple chairmanships and firm performance, (ii) total directorships is positively associated with higher firm performance and, (iii) board connectivity is positively associated with higher firm performance. Overall, our finding suggests that multiple chairmanship and directorship to a certain extent leads to better firm performance. We conjecture that interlocked chairman and director can maximize their good business connection and networking to add value to GLCs.

scholarly journals CORPORATE GOVERNANCE AND FIRM PERFORMANCE NEXUS: A CASE OF CEMENT INDUSTRY OF PAKISTAN

2018 ◽  
Vol 1 (1) ◽  
pp. 1-6 ◽  
Author(s):  
Abdul Ghafoor Kazi ◽  
Muhammad Asad Arain ◽  
Payal Devi Sahetiya
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Ownership Structure ◽  
Significant Relationship ◽  
Stock Exchange ◽  
Study Data ◽  
Cement Industry ◽  
Annual Reports ◽  
Board Structure ◽  
The Impact

Corporate governance is the system of rules, practices and method by that business corporations are directed and controlled. The aim of this research is to examine the impact of the corporate governance on the financial performance of the enlisted cement industry on the Pakistan Stock Exchange from the year 2013-17. This research is a “quantitative research” which focuses on numbers and results based on empirical analysis of actual data and logic. Ten out of seventeen cement firms listed at PSX from the period 2013-17 are selected as sample of the study. Data was collected from documents and records. Descriptive statistics, Pearson’s correlation and multiple regressions were used for data analysis. The results showed that there is no significant relationship between leverage and firm performance, the board structure has no significant relationship with firm performance, and firm size has an insignificant relationship with firm performance. The results however suggested that ownership structure has significant relationship with firm performance. The future investors in cement industry of Pakistan must consider above factors before investments. This study helps shareholders and management in decision making about the effect of ownership structure on firm performance and how these can change ownership structure. This study helps students to gain knowledge and understanding about good corporate governance and its impact on firm performance. It will also help them to go through the annual reports of companies and to analyse the financial statements so that they could learn how to analyse the performance of the firm in terms of ROE. Moreover, the study would also be a direction for future researchers and students to further add value to the subject of corporate governance and firm performance.

scholarly journals The Relationship between Extent of Internationalization and Firm Performance (Taiwan 1992–2017)

2021 ◽  
Vol 2021 ◽  
pp. 1-20
Author(s):  
Shih-Yung Wei ◽  
Li-Wei Lin
Keyword(s):  
Firm Performance ◽  
Operating Performance ◽  
Board Structure ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Moderating Variables ◽  
Average Operating ◽  
And Performance ◽  
And Control ◽  
The Impact

The purpose of this study was to discuss the impact of the extent of internationalization on firm performance measured for firms with a high Tobin’s Q (firms with good operating performance), a median Tobin’s Q (firms with average operating performance), and a low Tobin’s Q (firms with poor operating performance). In addition to discussion on the impact of internationalization on firm performance, this study also discussed the impact of corporate proprietary assets (using assets, R&D, marketing, and management-related variables as moderating variables) and control variables (scale of company, debt-asset ratio, firm age, board structure, and proportion of pledged shares by directors) on firm performance. The research results showed that there is an S-shaped relationship between extent of internationalization and firm performance. However, further discussion found that there is an S-shaped relationship between extent of internationalization and performance for firms with a high Tobin’s Q but a slight decline in the middle of the S-shaped curve, as well as a general linear negative correlation between extent of internationalization and performance for firms with a median Tobin’s Q and an inverted U-shaped correlation between extent of internationalization and performance for firms with a low Tobin’s Q.

scholarly journals The impact of corporate governance on firm performance in the Zimbabwean manufacturing sector

2015 ◽  
Vol 12 (4) ◽  
pp. 779-790
Author(s):  
Patience Siwadi ◽  
Collins Miruka ◽  
Florence Achieng Ogutu
Keyword(s):  
Corporate Governance ◽  
Regression Analysis ◽  
Firm Performance ◽  
Multivariate Regression ◽  
Manufacturing Sector ◽  
Multivariate Regression Analysis ◽  
Independent Directors ◽  
Bivariate Analysis ◽  
Board Structure ◽  
The Impact

Corporate governance studies in Zimbabwe have concentrated on existence of frameworks that control firms. This study focused on the corporate governance factors that are associated with firm performance in the Zimbabwean manufacturing sector. We investigated a sample of 88 companies which were operating at least 80% capacity from 2009 to 2012.Using Return on Assetst (ROA) as a measure of performance and the dependent variable, and 14 corporate governance proxies encompassing board structure, board composition and board procedures as the independent variables, a bivariate and multivariate regression analysis was performed. The results indicated that shareholder concentration, proportion of independent directors, board tenure and access to financial statements are positive and significant to firm performance in the bivariate analysis. On the multivariate regression analysis however, independent directors was positive but not significant. Researchers have not been able to agree on these factors and since corporate governance is largely endogenously determined it can be concluded that factors are influenced by country effects. Thus further studies focusing on similar countries need to be undertaken.

scholarly journals Board meeting and firm performance: Evidence from the Amman stock exchange

2016 ◽  
Vol 12 (2) ◽  
pp. 6-11 ◽  
Author(s):  
Khaleel Ibrahim Al-Daoud ◽  
Siti Zabedah Saidin ◽  
Shamharir Abidin
Keyword(s):  
Firm Performance ◽  
Stock Exchange ◽  
Generalized Method Of Moments ◽  
Positive Association ◽  
Corporate Board ◽  
Board Meeting ◽  
Estimation Model ◽  
Amman Stock Exchange ◽  
Lagged Dependent Variable ◽  
The Impact

This study examines the impact of board meeting frequency on the firm performance of the firms listed on the Amman Stock Exchange from industry and service sectors for the 2009-2013 period. The study controls for endogeneity and simultaneously problems using the dynamic panel technique of Generalized Method of Moments (GMM). The findings of the study suggest that a positive association between the frequency of corporate board meetings and firm performance. This suggests that through meetings, board members determine operational issues through discussing and engaging with each other frequency meetings enhancing the decision making process, and consequently the performance of the firms. The findings also show that lagged dependent variable in the estimation model is important in explaining the relationship, which further indicates the appropriateness of the estimation models in our study. This study provides insightful evidence to policy makers on the effectiveness of the of the 2009 Code of Corporate Governance

The Impact of Business Strategy on Firm Performance of Listed Firms in Vietnam

2020 ◽  
Vol 36 (5E) ◽  
Author(s):  
Khuong Nguyen Vinh ◽  
Le Phan Minh Thu ◽  
Luong Bao Han ◽  
Nguyen Thuy Minh Dan ◽  
Pham Truc Mai ◽  
...  
Keyword(s):  
Firm Performance ◽  
Business Strategy ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Positive Association ◽  
Listed Firms ◽  
Differentiation Strategy ◽  
Leadership Strategy ◽  
The Impact ◽  
Cost Leadership Strategy

This study was conducted to contribute empirical evidence of the impact of Michael Porter’s business strategy on performance in Vietnamese listed firms. Based on data from 620 firms on the Vietnamese stock exchange from 2010 to 2019, we use a quantitative research method to demonstrate the positive association between performance and differentiation strategy. We found cost leadership strategy has no meaning. Based on the results, we make implications for listed firms and regulatory agencies which will contribute to improving firm performance.

The Impact of Ownership Structure on Firm Performance

2016 ◽  
Vol 3 (1) ◽  
pp. 36-54
Author(s):  
Qaiser Rafique Yasser ◽  
Abdullah Al Mamun
Keyword(s):  
Firm Performance ◽  
Ownership Structure ◽  
Positive Association ◽  
Performance Measure ◽  
Efficient Markets ◽  
Significant Positive Association ◽  
Economic Profit ◽  
Market Monitoring ◽  
Jel Code ◽  
The Impact

The connection between ownership structure and firm performance has attracted much attention, especially in emerging markets, yet yielded many inconsistent empirical results. This paper presents an analysis of the association between eight categories of ownership, HHI Index, GINI index and firm performance in Pakistan. Some researchers argue that ownership concentration can improve firm performance by making the owners more willing or able to monitor agents. In contrast, others argue that in the presence of efficient markets, market monitoring will discipline the managers. The author's results show that there is significant positive association with ownership structure and market based performance measure and economic profit. The ownership proportion of the institutional shareholding and foreign shareholding are also positively associated with firm performance. JEL Code: G32.

scholarly journals The impact of corporate governance on firm performance in Egyptian listed companies

2013 ◽  
Vol 11 (1) ◽  
pp. 691-705 ◽  
Author(s):  
Ehab K. A. Mohamed ◽  
Mohamed A. Basuony ◽  
Ahmed A. Badawi
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Listed Companies ◽  
Board Independence ◽  
Board Structure ◽  
Cross Sectional ◽  
Book Value ◽  
The Impact

This paper examines the impact of corporate governance on firm performance using cross sectional data from non-financial companies listed in the Egyptian Stock Exchange. The 88 non-financial companies on EGX100 index of listed companies on the Egyptian Stock Market are studied to examine the relationship between ownership structure, board structure, audit function, control variables and firm performance by using OLS regression analysis. The results show that ownership structure has no significant effect on firm performance. The only board structure variable that has an effect on firm market performance is board independence. Firm book value performance is affected by both board independence and CEO duality. Firm size and leverage have varying effects on both market and book value performance of firms

scholarly journals IMPACT OF BOARD STRUCTURE ON FIRM PERFORMANCE IN THE NIGERIAN MANUFACTURING SECTOR

2018 ◽  
Vol 3 (1) ◽  
pp. 56-65
Author(s):  
Rogers A. Akinsokeji
Keyword(s):  
Firm Performance ◽  
Firm Size ◽  
Fixed Effects ◽  
Manufacturing Sector ◽  
Manufacturing Firms ◽  
Board Structure ◽  
Board Size ◽  
General Behaviour ◽  
Panel Data Estimation ◽  
The Impact

In this study, the impact of board structure on firm performance is empirically examined using a large cross section of 50 manufacturing firms in Nigeria and the panel data estimation technique. Both the random and fixed effects methods are adopted to provide robust estimates from the pooled data for the firms over a ten-year period (2005-2014) and the estimations are performed using two measures of firm performance and three measures of board structure. The empirical results from the analysis show that board structure has a significant impact on performance of manufacturing firms in Nigeria. The main source of the impact is through board independence and faintly through board size. However, board composition seems to exert very little effect on firm performance for the sample in the study. Also, firm size is shown to be an essential factor in explaining the general behaviour of firm performance and the pattern of effect that board structure has on firm performance. The effect of size is observed by controlling for it in the performance estimations. The study shows that firm size tends to improve the effect of board structure on performance, apart from EPS. The optimization of board size and composition is desirable for performance especially in a setting like Nigeria with diverse firm characteristics.

scholarly journals Corporate governance: the impact of director and board structure, ownership structure and corporate control on the performance of listed companies on the Ghana stock exchange

2016 ◽  
Vol 16 (2) ◽  
pp. 259-277 ◽  
Author(s):  
Josephine Darko ◽  
Zakaria Ali Aribi ◽  
Godfrey C. Uzonwanne
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Ownership Structure ◽  
Audit Committee ◽  
Corporate Control ◽  
Sub Saharan Africa ◽  
Board Structure ◽  
Content Type ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to examine the relationship between corporate governance and firm performance of listed Ghanaian companies. Design/methodology/approach The paper adopts a longitudinal and cross-sectional data set of 20 sampled companies over a period of five years. The data were analyzed using a panel regression and ANOVA analysis to establish the relationship between corporate governance and firm performance. Corporate governance is defined in terms of three indices – board structure, ownership structure and corporate control, while firm performance is measured by return on assets, return on equity, net profit margin and Tobin’s Q. Findings The empirical results show that ownership concentration and female representation on board have a positive impact on performance. Although the results revealed no evidence to support the impact of board size and audit committee size on performance, there is significant evidence to support the fact that independent directors and audit committee frequency both adversely affect firm performance. Research limitations/implications The scope of this paper can be expanded to include non-listed firms. In addition, other corporate governance mechanisms could be considered to broaden the scope of the paper. Originality/value This paper contributes to the scarce literature on corporate governance and firm performance in developing countries, especially in sub-Saharan Africa. The paper provides useful information that is of great value to policymakers, academics and other stakeholders.

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