scholarly journals Family ownership, premiums paid and performance: Evidence from corporate take-overs in Malaysia

2007 ◽  
Vol 4 (2) ◽  
pp. 89-99 ◽  
Author(s):  
Saw-Imm Song ◽  
Ruhani Ali ◽  
Subramaniam Pillay
Keyword(s):  
Interaction Effect ◽  
Agency Problem ◽  
Developed Countries ◽  
Curvilinear Relationship ◽  
Family Ownership ◽  
Listed Firms ◽  
And Performance ◽  
The Relationship

This study examines the relationship between ownership identity of the largest shareholders, premiums paid and take-over performance, with reference to 63 large acquisitions by Malaysian public listed firms from 1990 to 1999. It is found that the premiums paid are much higher than those in developed countries. It has a curvilinear relationship with take-over performance. At lower to moderate levels of premiums, it improves post-take-over performance while excessive premium drags down the performance of the bidding firms. The finding shows that there is an interaction effect between family ownership and premiums paid which has contributed positively to the post-take-over performance. The evidence suggests that family ownership mitigates agency problem in corporate take-overs

scholarly journals The relation between conscientiousness, empowerment and performance

2007 ◽  
Vol 5 (2) ◽  
pp. 62 ◽  
Author(s):  
Riëtte Sutherland ◽  
Gideon P. De Bruin ◽  
Freddie Crous
Keyword(s):  
Information Technology ◽  
Job Performance ◽  
Customer Service ◽  
Employee Empowerment ◽  
Information Technology Professionals ◽  
Curvilinear Relationship ◽  
Social Desirability Scale ◽  
And Performance ◽  
The Relationship ◽  
Service Engineer

This study examined the relationship between conscientiousness, empowerment and job performance among information technology professionals. An Employee Empowerment Questionnaire (EEQ), a Conscientiousness Scale and a Social Desirability Scale were administered to 101 information technology customer service engineers. Managers completed a Performance Evaluation Questionnaire (PEQ) for each customer service engineer. The results indicated a significant relationship between conscientiousness and empowerment. A curvilinear relationship was found between empowerment and performance. The practical and theoretical implications of the findings are discussed.

scholarly journals Debt financing and firm performance: The moderating role of board independence

2020 ◽  
Vol 45 (3) ◽  
pp. 141-151
Author(s):  
Hanh Song Thi Pham ◽  
Duy Thanh Nguyen
Keyword(s):  
Emerging Market ◽  
Debt Financing ◽  
Board Independence ◽  
Data Set ◽  
Listed Firms ◽  
Negative Effect ◽  
And Performance ◽  
The Relationship ◽  
Moderating Role

This article investigates the moderating role of board independence in the relationship between debt financing and performance of emerging market firms. We have used an empirical model in which the firm’s accounting profitability is a dependent variable and the independent variables are debt financing, board independence, the interaction variable made of debt financing and board independence as well as various control variables. Our analysis is based on a panel data set of 300 listed firms in Vietnam between 2013 and 2017. Our study finds that debt financing has a significantly negative effect and that board independence reduces the adverse impact of debt financing on accounting profitability. Our results are consistent across different estimation models and methods.

scholarly journals Exploring the moderating effect of family CEO on the association between family ownership and firm value: An empirical analysis of top Indian family firms

2015 ◽  
Vol 12 (2) ◽  
pp. 349-361
Author(s):  
Lakshmi Kalyanaraman
Keyword(s):  
Family Member ◽  
Empirical Analysis ◽  
Interaction Effect ◽  
Firm Value ◽  
Family Firms ◽  
Stock Exchange ◽  
Moderating Effect ◽  
Market Valuation ◽  
Family Ownership ◽  
The Relationship

We study 288 family firms included in the NSE CNX 500 index of the National Stock Exchange of India. We find an entrenchment-alignment-entrenchment relationship between family ownership and firm value. We show that family CEO has a negative moderating effect on the relationship between family ownership and firm value. When the interaction effect of Family CEO on family ownership is controlled, only family shareholding in the alignment range is found to be statistically significant. The study shows that family firms with family CEO suffer from a decrease in market valuation. This finding is extremely valuable given the fact that India is dominated by family firms and majority of family firms appoint a family member as CEO

scholarly journals The Influence of Debt Financing on Firms’ Performance: Empirical Evidence from Malaysia

2021 ◽  
Vol 5 (1) ◽  
pp. 76-87
Author(s):  
Yien Yien Lee
Keyword(s):  
Fixed Effect Model ◽  
Short Term ◽  
Return On Assets ◽  
Causality Test ◽  
Listed Firms ◽  
Effect Model ◽  
Lm Test ◽  
And Performance ◽  
The Relationship

This study investigated the relationship between the listed firms’ debt level and performance in Bursa Malaysia during a five-year period. Based on the results of the Hausman test and Breusch-Pagan LM test, the fixed-effect model is the most appropriate model that used to analyze the panel data of 50 Malaysian listed companies within the property sector from the year 2015 to 2019. The results indicated that the short-term debt (STD) and long-term debt (LTD) have positive and insignificant effects on return on asset (ROA), which means that the increase in the short-term debt and long-term debt will lead to an increase in the return on assets. Besides that, account payables (AP) has a negative and insignificant effect on the profitability of property sector companies. According to the outcome of the Granger Causality test, the return on assets does not affect by the account payables, short-term debt, long-term debt and firm size. There is only one unidirectional causality relationship that proves that short-term debt is affected by long-term debt. Additionally, this study focuses on enhancing the existing empirical knowledge of debt financing's influence on the profitability of the listed firms in the property sector.

scholarly journals Some empirical evidence on the relationship between inventory management and social responsibility

2013 ◽  
Vol 2 (3) ◽  
pp. 98-106 ◽  
Author(s):  
Khaled Elsayed
Keyword(s):  
Supply Chain ◽  
Social Responsibility ◽  
Empirical Evidence ◽  
Inventory Management ◽  
Emerging Market ◽  
Developed Countries ◽  
Listed Firms ◽  
Corporate Social ◽  
The Cost ◽  
The Relationship

Despite the crucial role that inventory plays in supply chain management (SCM), research that examines the relationship between inventory and corporate social responsibility (CSR) is rare. This is surprising given the evidence that inventory represents a huge source of cost, a matter that is often reported as a major impediment in practicing social responsibility in SCM. As such, this paper fills this gape in literature by examining directly the effect of inventory management on CSR. Maximum-likelihood ordered logistic regression was performed on a sample of 38 Egyptian listed firms during the period from 2007 to 2010. The results demonstrate that inventory management exerts a positive and significant coefficient on CSR. Further analysis shows that inventory management cannot be safely dropped from model of analysis. Rather, inventory management does add something unique in explaining differences in CSR. For practitioners interested in optimizing their firms’ values, thinking in managing supply chain imperatives, and specially inventory, in terms of social responsibility may guide them to build up a stock of reputational capital that can be used, in turn, to increase the cost of their rivals. This study, to the best of knowledge, is the first one that offers empirical evidence regarding the effect of inventory management on CSR. Moreover, the paper adds to both SCM and CSR literature by providing empirical evidence from Egypt as an emerging market, where much of the existing evidence reflects experience from developed countries

scholarly journals Business Intelligence Capability, Complementary Resources and Performance among Public Listed Firms in Kenya

2020 ◽  
Vol 15 (9) ◽  
pp. 66
Author(s):  
Edward Buhasho ◽  
Agnes Wausi ◽  
James Njihia
Keyword(s):  
Business Intelligence ◽  
Mixed Methods Research ◽  
Capital Expenditure ◽  
Future Research ◽  
Cross Sectional ◽  
Listed Firms ◽  
Complementary Resources ◽  
Improved Performance ◽  
And Performance ◽  
The Relationship

Whereas Business Intelligence initiative has been a primary focus many organisations globally for several years and accounting for billions of dollars in capital expenditure, empirical research remains sparse on the actual impact derived from this investment. Even when the benefits are established, its indirect and delayed impact on business results make it difficult to assess its value. Available literature on how insights triggered by Business Intelligence are transformed into profitable business learning is vague and fragmented. Hence, the main objective of this study was to establish the influence of complementary resources on the relationship between Business Intelligence capability and firm performance. The study used interdisciplinary theories to achieve the research objective, namely, Information systems capability theory and organisational learning. The study was performed using a mixed methods research methodology and cross-sectional approach. Data was collected from 64 public listed companies in Kenya. Findings indicated that complementary resources have a positive and significant impact on the relationship between Business Intelligence capability and performance. The study contributed to theory by building a framework for business intelligence assessment, including factors that significantly lead to improved performance. The results also provide new insights into the existing literature and suggest directions for future research with implications for academia, policymakers and management.

IS Project Characteristics and Performance

2002 ◽  
pp. 290-303
Author(s):  
Adel M. Aladwani
Keyword(s):  
Developed Countries ◽  
Systems Development ◽  
Future Research ◽  
Management Support ◽  
Developing Regions ◽  
Development Tools ◽  
Project Characteristics ◽  
And Performance ◽  
The Relationship ◽  
Is Projects

Empirical research on project-level success of systems development in developing regions is lacking. Managers cannot rely on prescriptions suggested by IS projects research in developed countries to understand IS projects in developing countries without empirical evidence supporting the applicability of these guidelines. We collect data from 61 IS project leaders to test eight research hypotheses tapping the relationship between IS project characteristics and performance in a developing country. Our analyses reveal that adequacy of development tools, formal planning, management support, and participation are positively related to IS project performance. However, the data find no support for a significant relationship between members’ abilities, project uncertainty, and conflict and performance. Contrary to previously reported findings, our data highlight the possible damaging effect of increased horizontal coordination in IS projects. We discuss these results and suggest directions for future research.

Should the CEO Also Be Chair of the Board? An Empirical Examination of Family-Controlled Public Firms

2007 ◽  
Vol 20 (2) ◽  
pp. 111-126 ◽  
Author(s):  
Michael Braun ◽  
Anurag Sharma
Keyword(s):  
Firm Performance ◽  
Family Ownership ◽  
Stewardship Theory ◽  
Empirical Examination ◽  
Shareholder Returns ◽  
Ceo Duality ◽  
Board Chair ◽  
Public Firms ◽  
And Performance ◽  
The Relationship

Using the competing agency theoretic and stewardship theory perspectives, we empirically examine the relationship between CEO duality and firm performance in family-controlled public firms (FCPFs). We find that duality by itself does not influence firm performance in FCPFs. However, our results show that the relationship between duality and performance is contingent on the family's ownership stake in the firm. In nondual firms, performance is inversely related to family ownership level. Dual FCPFs do not exhibit any changes in performance dependent on family ownership levels. Our findings reveal, in short, that when family ownership is low, the separation of CEO and board chair roles is beneficial in terms of shareholder returns. Having different persons occupy the CEO and board chair positions is a useful governance control as the risk of family entrenchment increases.

scholarly journals The CSR–CFP relationship in the presence of institutional voids and the moderating role of family ownership

2021 ◽  
Author(s):  
James J. Cordeiro ◽  
Ambra Galeazzo ◽  
Tara Shankar Shaw
Keyword(s):  
Family Firms ◽  
Developed Countries ◽  
Curvilinear Relationship ◽  
Institutional Voids ◽  
Weak Institutions ◽  
Stakeholder Influence ◽  
Institutional Contexts ◽  
Corporate Social ◽  
The Relationship

AbstractIn weak institutional contexts characterized by institutional voids, firms often struggle to demonstrate their ethical conduct. They are seen as raising the costs of influencing stakeholders and correspondingly the level of investment needed in stakeholder influence capacity in order to achieve corporate financial performance (CFP). We hypothesize and find support for a U-shaped curvilinear relationship between corporate social responsibility (CSR) engagement level and CFP in the context of India—a country characterized by relatively weak institutions. We also investigate whether family firms can help overcome the drawbacks of weak institutional contexts and thus influence the relationship between CSR and CFP. We adopt a large sample, panel data approach to test our theoretical model. We observe a U-shaped relationship, consistent with earlier findings in developed countries. However, we find that this significant U-shaped relationship is observed only in the case of family firms in our sample.

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