The Moderating Role of CSR on the Relationship between Derivatives and Firm Value

2019 ◽  
Vol 32 (3) ◽  
pp. 1289-1311
Author(s):  
Hyun-Jung Nam ◽  
Yu-Tea Lee ◽  
Gun-Woo Jin
Keyword(s):  
Firm Value ◽  
The Relationship ◽  
Moderating Role

scholarly journals Capital Structure-Firm Value Nexus: Moderating Role of Profitability

2020 ◽  
Vol 11 (2) ◽  
pp. 375-386
Author(s):  
Hamed Ahmad Almahadin ◽  
Yazan Salameh Oroud
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Panel Data Analysis ◽  
Policy Implications ◽  
Ample Evidence ◽  
Functional Models ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role

This study aims to investigate the moderating role of profitability in the relationship between capital structure and firm value in Jordan, as an example of an emerging economy. For this purpose, two functional models were formulated to capture the direct relationship as well as the interaction impact of capital structure on firm value. The robust empirical findings of panel data analysis provide strong evidence of an adverse relationship between capital structure and firm value. The findings confirm that the impact of capital structure appears to be complicated in nature and difficult to examine without controlling for the interaction of profitability as one of the major determinants. Therefore, studying the interaction effect provides ample evidence and enhances the understanding of the link between firm value and capital structure. The empirical results of the study may provide important insights and policy implications to decision-makers.

scholarly journals Impact of Intellectual Capital on Firm Value: The Moderating Role of Managerial Ownership

2019 ◽  
Author(s):  
Aftab Ahmed ◽  
Muhammad Kashif Khurshid ◽  
Muhammad Usman Yousaf
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Market Competition ◽  
Value Added ◽  
Sampling Technique ◽  
Systematic Sampling ◽  
Managerial Ownership ◽  
The Relationship ◽  
Moderating Role

Rapidly changing dynamics of globalization and increasing market competition are causing the companies all around the world confronting several new challenges and opportunities. To be competitive and successful apart from relative importance of physical resources, companies must adapt modern strategies and policies regarding market flexibility and development. The purpose of this study is to empirically investigate the relationship between intellectual capital and firm value. Furthermore, the moderating role of managerial ownership has been evaluated with the help of regression analysis. The sample included the panel data taken from non-financial firms listed on Pakistan stock exchange (PSX) covering the period 2010-2015. A sample of 79 firms out of 384 firms have been selected with the help of systematic sampling technique. VAIC (Value Added Intellectual Coefficient) model has been used for the calculation of intellectual capital. Tobin's Q has been taken as a measure of firm value. Managerial ownership has been tested as moderator. Based on data analysis, it is concluded that the relationship between intellectual capital and firm value is positively significant. It is also concluded that managerial ownership moderates the relationship between intellectual capital and firm value negatively.

scholarly journals Does Gender Heterogeneity Matters: The Moderating Role of Women Directors' Independence in the Indian Corporate Sector

2021 ◽  
Vol 14 (28) ◽  
pp. 87-105
Author(s):  
Pradeep KAUR ◽  
◽  
Poonam MAHAJAN
Keyword(s):  
Firm Value ◽  
Fixed Effects ◽  
Negative Impact ◽  
Generalized Method Of Moments ◽  
Independent Directors ◽  
Women Directors ◽  
Role Of Women ◽  
The Relationship ◽  
Moderating Role

This study aims to examine the moderating role of the independent status of women directors on the relationship between gender heterogeneity and firm value. The empirical analysis is performed on the panel data of BSE 100 companies for the period of 10 years from the year 2009 to 2018. Generalized Method of Moments is employed along with Fixed Effects Model while controlling for firm and board-specific variables to examine the relationship between gender heterogeneity and firm value. Moderation impact on this relationship is also analyzed empirically as well as graphically. Results show a negative impact of board gender heterogeneity on the value of a firm. Also, there is a negative moderation effect of women independent directors on the relationship between gender heterogeneity and firm value. Empirical findings of the present study contribute to the current discourse of gender heterogeneity and depict the Indian scenario of corporate boards in this context. This is the first study examining the moderating role of women independent directors on the relationship between board gender heterogeneity and the value of a firm in the Indian climate.

Does family matter? The moderating role of family involvement on the relationship between CSR and firm performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jihwan Yeon ◽  
Michael S. Lin ◽  
Seoki Lee ◽  
Amit Sharma
Keyword(s):  
Firm Performance ◽  
Family Involvement ◽  
Firm Value ◽  
Family Ownership ◽  
Content Type ◽  
Founding Family ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role

Purpose The purpose of this study is to investigate the moderating role of family involvement on the corporate social responsibility (CSR)-firm performance (FP) relationship in the US hospitality industry. Building on agency theory, this study examines how family ownership, management and board control influence the relationship between CSR and FP. Design/methodology/approach To examine the moderating effect of family ownership, family management and family board control, this study adopts the two-way fixed-effects model and performs a panel regression analysis with robust standard errors. The sample period spans 1994–2018 and 565 firm-year observations are included. Findings This study finds that the impact of CSR on FP is positively moderated by the extent of a firm’s family member involvement. In specific, all three aspects of corporate governance (i.e. ownership, management and board control) positively moderate the relationship between CSR and FP. Research limitations/implications Findings of this study yield several recommendations for hospitality managers, including shaping strategic decisions for implementing CSR, by providing a unique perspective that the involvement of founding family members can be helpful in enhancing firm value through CSR activities. Originality/value This study sheds light on the further understanding of the CSR-FP link in the hospitality literature. In addition, this study provides practical guidelines for hospitality firms in the context of CSR by revealing possible advantages of strengthened founding family involvement.

Context influences on the relationship between views of aging and subjective age: The moderating role of culture and domain of functioning.

2017 ◽  
Vol 32 (5) ◽  
pp. 419-431 ◽  
Author(s):  
Thomas M. Hess ◽  
Erica L. O'Brien ◽  
Peggy Voss ◽  
Anna E. Kornadt ◽  
Klaus Rothermund ◽  
...  
Keyword(s):  
Subjective Age ◽  
The Relationship ◽  
Moderating Role

Moderating Role of Stress, Anxiety, and Depression in the Relationship Between Tinnitus and Hearing Loss Among Patients

2020 ◽  
Vol 34 (4) ◽  
pp. 753-772
Author(s):  
Ammar Ahmed ◽  
Muhammad Aqeel ◽  
Tanvir Akhtar ◽  
Sammeen Salim ◽  
Bashir Ahmed
Keyword(s):  
Hearing Loss ◽  
Psychological Problems ◽  
Anxiety And Depression ◽  
Adaptation Level ◽  
Depression Anxiety Stress Scale ◽  
Neuropsychological Theory ◽  
Anxiety Depression ◽  
The Relationship ◽  
Moderating Role

Adaptation level theory of tinnitus and neuropsychological theory of tinnitus are extensively used frameworks for understanding emotional and psychological distress among tinnitus sufferers. Objective of the present study was to investigate potential associations between hearing loss, tinnitus, anxiety, depression, and stress. The Tinnitus Handicap Inventory (Newman, Jacobson, & Spitzer, 1996) and the Depression, Anxiety, Stress Scale (Lovibond & Lovibond, 1995)scales were administered to a sample of 110 tinnitus outpatients recruited from Audiology departments of Lahore and Rawalpindi hospitals. Results revealed tinnitus was positively linked with psychological problems. Additionally, it was established that tinnitus is a positive significant predictor for anxiety, stress and depression. The moderation models related to the interactions between psychological problems and hearing loss were negative significant predictors for tinnitus symptoms. Moreover, the comparative analysis between gender differences revealed a significant diversity in the levels of stress, anxiety, and depression. Results also elucidated that patients at initial stages of hearing loss were more prone towards reporting tinnitus symptoms along with emerging psychological problems.

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