Gender Diversity, Political Connections and Environmental, Social and Governance Performance in China: The Moderating Role of Tenure

2021 ◽  
Vol 39 (10) ◽  
Author(s):  
Zhang Xiaomei ◽  
Mohd Rashdan Sallehuddin ◽  
Rosli Mohd Saad ◽  
Zhou Lu
Keyword(s):  
Corporate Governance ◽  
Gender Diversity ◽  
Fixed Effect ◽  
Political Connections ◽  
Political Connection ◽  
Cross Sectional ◽  
Variable Approach ◽  
The Impact ◽  
Moderating Role

This study focuses on the two corporate governance variables of gender diversity and political connections and their effects on Environmental, Social and Governance (ESG) Performance in China with the moderating role of tenure.  To examine these effects, this study uses a hierarchical regression analysis to check the effects of a firm's corporate governance on ESG performance.  This analysis is based on a sample of 143 listed firms that have ESG scores in China over the four years 2015–2018. In specifically, the fixed-effect regression with Driscoll-Kraay (1998) standard errors is used to correct heteroskedasticity-autocorrelation and cross-sectional correlation. Moreover, this study considered the time fixed effect and utilized the instrumental variable approach to control the model's endogeneity. The empirical results from this analysis show that gender diversity and political connection can significantly and positively affect ESG performance.  As example of moderating results, Chairman’s tenure inhibits the effects of gender diversity and the political connection on ESG performance. To our knowledge, this study examines for the first time the moderating role of chairman's tenure in the impact of corporate governance on the ESG performance in the context of a weaker regulatory environment. This study's results provide a guide for investors and policymakers to make decisions about investment and ESG policy.

scholarly journals Foreign Shareholdings Impact on Banks Efficiency and Moderating Role of Corporate Governance

2019 ◽  
Vol 8 (2S9) ◽  
pp. 414-425
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Country Of Origin ◽  
Developed Countries ◽  
Moderating Effect ◽  
Due Diligence ◽  
The Board Of Directors ◽  
The Impact ◽  
Moderating Role

The research investigate the impact of foreign shareholding originated from developed and developing countries on the efficiency of acquired local banks in Indonesia during 2007-2017 by including Corporate Governance as a moderating variable. Methodology: Using the secondary aggregate data of 29 commercial banks acquired by foreign shareholders, a panel regression model using econometrics methods of GLS, and DEA were applied to examine the effects of percentage of foreign shareholdings on efficiency of the acquired local banks. The main findings; First, percentage of foreign shareholdings positively affecting efficiency of acquired local banks only if the foreign shareholders is originated from developed countries. Second, the level of economic advancement of the country of origin of foreign shareholders has significant effects on the efficiency of the acquired local banks. Third, the increase in the size of the Board of Directors tends to decrease the efficiency of the acquired local banks and fourth, the presence of Foreign Director has a positive moderating effect on strengthening the effect of percentage of foreign shareholdings on the efficiency of the acquired local banks. Overall, the originality of this studies is that the percentage of foreign shareholdings and its country of origin are two combined factors that cannot be separated in affecting the level of efficiency of its acquired local bank and the fact of significant positive moderating effect of Foreign Director. As policy consideration, monetary authority need to perform strict due diligence on prospective foreign shareholders specifically originated from developing countries, advise banks to maintain the existence of Foreign Director and to encourage small local banks to be merged prior to the acquisition by foreign shareholders.

scholarly journals Corporate Social Responsibility and Financial Performance: The Moderating Role of Ownership Concentration in Turkey

2019 ◽  
Vol 11 (13) ◽  
pp. 3643 ◽  
Author(s):  
Elif Akben-Selcuk
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Ownership Concentration ◽  
Firm Financial Performance ◽  
Variable Approach ◽  
Corporate Social ◽  
The Impact ◽  
Moderating Role

The objective of this study is to investigate the impact of corporate social responsibility (CSR) engagement on firm financial performance in a developing country, Turkey, and to analyze the moderating role of ownership concentration in the CSR–financial performance relationship. The sample consists of non-financial public firms listed on the Borsa Istanbul (BIST)-100 index and covers the period between 2014 and 2018. Empirical results using an instrumental variable approach show that corporate social responsibility has a positive relationship with financial performance. Furthermore, findings indicate that this relationship is negatively moderated by ownership concentration even when endogeneity is controlled for.

scholarly journals The moderating role of board gender diversity between power-based corporate governance and tax aggressiveness

2021 ◽  
Vol 10 (2) ◽  
pp. 104-147
Author(s):  
Farzan Yahya ◽  
Abdul Manan ◽  
Muhammad Wasim Jan Khan ◽  
Muhammad Sadiq Hashmi
Keyword(s):  
Corporate Governance ◽  
Gender Diversity ◽  
Tax Avoidance ◽  
Ceo Power ◽  
Tax Aggressiveness ◽  
Concentrated Ownership ◽  
Board Gender Diversity ◽  
The Relationship ◽  
Moderating Role

The purpose of this study is to explore the moderating effect of board gender diversity on the relationship between power-based corporate governance (CEO power and concentrated ownership) and tax aggressiveness. The sample of this study is based on 2,071 firm-year observations over the period 2010 to 2018. We employed two-step GMM estimations to account for endogeneity and other statistical biases. The results show that CEO power increases the likelihood of tax aggressiveness while the link between the large controlling shareholders and tax-avoidance activities is not statistically significant. Lastly, the findings suggest that powerful CEOs manipulate female directors to promote tax aggressiveness behavior. 

scholarly journals Finance Impact of corporate governance on the valuation of IPOs in Pakistan stock exchange listed Firms. A moderating role of the family Ownership.

2021 ◽  
Vol 2 (1) ◽  
pp. 101-112
Author(s):  
Muhammad Waris ◽  
Dr. Badariah Haji Din
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Moderating Effect ◽  
Family Ownership ◽  
Board Independence ◽  
Ipo Performance ◽  
The Family ◽  
The Impact

The objective of our study is to investigate the impact of the corporate governance on the IPO performance with moderating impact of the family ownership. To investigate that relationship, we used the data of IPOs registered from 2008 to 2017 in Pakistan Stock exchange. We used the OLS methods to analysis of the data. Our findings shows that Board independence (BIND) has positive significant relationship with IPO return, it means that independent directors have the more technical knowledge and experience in maintaining the IPO return and making the strong policy for the organizations. CEO duality has the significant negative relationship with IPO return with (P=0.0833), it means that when CEO has the combine rule then decisions are not distributed, and monopoly existed in decisions that leads to the negative impact on the IPO performance. Board diligence, Board size, ownership concentration and gender diversity have no impact are being seen in our analysis. In the moderating effect of the family ownership in reference to board diligence (BD) the results changed to significant positive relationship, it means that with the family-owned firms when board meetings increased then increased in the IPO return due to some factors. With the moderation of the family ownership the results of the Board independence also improved that shows the role of the family-owned firm in between them. Women in the board that means the gender diversity has no impact but with the moderating effect of the family ownership women in the board has significant positive impact. This study is helpful for the financial managers, investors, and the finance students and also for the government, in maintaining the code of the corporate governance.

scholarly journals The role of corporate governance on CSR disclosure and firm performance in a voluntary environment

2019 ◽  
Vol 20 (2) ◽  
pp. 294-306 ◽  
Author(s):  
Aruoriwo Marian Chijoke-Mgbame ◽  
Chijoke Oscar Mgbame ◽  
Simisola Akintoye ◽  
Paschal Ohalehi
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Developed Countries ◽  
Economic Benefits ◽  
Data Set ◽  
Content Type ◽  
Csr Disclosure ◽  
The Impact ◽  
Moderating Role

Purpose This study aims to investigate the impact of corporate social responsibility disclosure (CSRD) on firm performance and the moderating role of corporate governance on the CSRD–firm performance relationship of listed companies in Nigeria. Design/methodology/approach The paper uses a panel data set comprising 841 firm-year observations for the period covering 2007-2016. Fixed effect regression analysis was used to examine the relationship between CSRD and firm performance, and the moderating role of corporate governance in the CSRD–firm performance relationship. Findings The results of the study show that there are positive performance implications for firms that engage in CSRD. Although this study finds no effect of board size on the CSRD–firm performance relationship, it provides a strong evidence of a positive effect of board independence on the CSR–firm performance relationship. Practical implications The study contributes to the understanding of CSRD–firm performance relationship by providing evidence of the moderating role of corporate governance. It is, therefore, recommended that a stronger regulation be put in place for CSR engagement and the disclosure of same in Nigeria as well as robust measures for the enforcement of corporate governance mechanisms because there are economic benefits to be derived. Originality/value The findings contribute to the literature by providing up-to-date and original insights on the CSRD–firm performance relationship within a developing country context. It also uses an uncommon method of measuring CSRD, taking into account the institutional biases that may arise from other methods used in studies on developed countries.

The Role of Corporate Governance and Environmental Committees on Greenhouse Gas Disclosure

2019 ◽  
Vol 9 (7) ◽  
pp. 1403
Author(s):  
Daniel T. H MANURUNG ◽  
Andhika Ligar HARDIKA ◽  
Dini W. HAPSARI ◽  
Minda Maulina SEBAYANG
Keyword(s):  
Corporate Governance ◽  
Greenhouse Gases ◽  
Greenhouse Gas ◽  
Sampling Method ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Manufacturing Companies ◽  
And Gender ◽  
The Impact

The study aims to determine the impact of corporate governance (board of commissioners, directors and gender diversity) and environmental committees in greenhouse gas disclosure. The sampling method in this study using purposive sampling method with a total of 26 manufacturing companies listed in Indonesia Stock Exchange by using multiple regression analysis. The results show that the role of the board of commissioners has not been able to provide control over the reduction of greenhouse gases on the company, the board of directors has no effect on the disclosure of greenhouse gases refuse to make emission gas reduction due to litigation pressure and expenditure, gender diversity has not been able to control the role of women and men in decision-making and risk and environmental committees have been little able to contribute to the disclosure of greenhouse gases as it is expected that the establishment of an environmental committee on the company.

Environment uncertainty and a firm’s strategic change the moderating role of political connection and family ownership

2019 ◽  
Vol 10 (4) ◽  
pp. 313-327
Author(s):  
Kai Wang ◽  
Massimiliano Matteo Pellegrini ◽  
Jiaan Xue ◽  
Cizhi Wang
Keyword(s):  
Strategic Change ◽  
Stock Exchange ◽  
Environmental Uncertainty ◽  
Family Ownership ◽  
Political Connection ◽  
Content Type ◽  
Strategic Changes ◽  
The Impact ◽  
Moderating Role

Purpose Strategic change is integral to the survival and development of firms. The purpose of this paper is to analyze the impact of environmental uncertainty on a firm’s strategic change and further demonstrates the moderating role of political connection and family ownership on the relationship between environmental uncertainty and a firm’s strategic change. Design/methodology/approach This paper uses the population sample of Chinese firms listed on the Shenzhen Stock Exchange and the Shanghai Stock Exchange from 2008 to 2014 and quantitatively tests hypotheses through correlation analysis, regression analysis and other methods. Findings Environmental uncertainty has a positive effect on the degree of strategic changes made. Political connection and family ownership negatively moderate the impact of the two dimensions of environmental uncertainty (environmental dynamism and environmental munificence) on strategic changes. Originality/value Conclusions enrich the research of other studies on firms’ strategic changes. From an open systems perspective, this paper reveals the influences of external environmental factors on firms’ strategic changes. In addition to this, in analyzing the ways in which environmental uncertainty affects a firm’s strategic change, the research expands the application scope of information processing theory and resource-based view. This paper also provides significant practical observations on firms’ strategic decision making in this area.

scholarly journals A ROLE A CORPORATE GOVERNANCE AND FIRM’S ENVIRONMENTAL PERFORMANCE: A MODERATING ROLE OF INSTITUTIONAL REGULATIONS

2019 ◽  
Author(s):  
Farheen Akram ◽  
Muhammad Abrar-ul-Haq ◽  
Saqlain Raza
Keyword(s):  
Climate Change ◽  
Corporate Governance ◽  
Environmental Performance ◽  
Global Scale ◽  
Manufacturing Companies ◽  
State Regulations ◽  
Governance Environment ◽  
The Impact ◽  
Moderating Role

Climate change has become one of the biggest issue across the globe as most countries have been bearing the consequences of this phenomenon on a global scale. Countries have been drafting environmental regulations to help mitigate the environmental pollution caused by climate change. Therefore, the implications of environmental policies in various sectors of the economy are dependent on state regulations. The main objective of this study is to investigate the impact of corporate governance on environmental performance. Furthermore, this study examines the impact of institutional regulations on the relationship of corporate governance and firms’ environmental performance. The data was collected from the top 120 manufacturing companies that are based in Pakistan, India, China and Bangladesh. The binary logit regression methodology was employed in this study. The results indicate that the attributes of corporate governance have a positive and significant impact on green performance. In addition, the results were also positive and significant on the moderating role of institutional regulation for corporate governance and firm performance. Hence, based on the empirical findings, this study recommends strict environmental institutional regulations to further enhance environmental performance. Keywords:Green performance, corporate governance, environment, institutional policies

scholarly journals Synergistic Integrated Business Model-Sustainability-Technology of Top Malaysian Oil and Gas PLCs: The Moderating Role of United Nations SDG 5

2021 ◽  
Vol 12 (2) ◽  
pp. 83
Author(s):  
Dayana Mastura Baharudin ◽  
Maran Marimuthu
Keyword(s):  
Corporate Governance ◽  
Business Model ◽  
Sampling Method ◽  
Oil And Gas ◽  
Annual Reports ◽  
Main Determinants ◽  
Code Of Corporate Governance ◽  
The Impact ◽  
Moderating Role

Purpose – This study investigates the impact of the three main determinants of strengthening the sustainability practices of the oil and gas public listed companies of Bursa Malaysia (PLCs) through the Business Model, Sustainability and Technology synergistically compared between pre and post Malaysian Code of Corporate Governance 2017 (MCCG 2017).Design/methodology/approach – The study has followed the purposive sampling method followed by descriptive statistics, regression analysis and content analysis derived from the Malaysian Code of Corporate Governance 2012 (MCCG 2012) and the MCCG 2017 together with previous studies of the analysis of the annual reports and integrated reports in order to explore the reporting of the business model, sustainability and technology as a synergy.

scholarly journals Does Energy Efficiency Affect Ambient PM2.5? The Moderating Role of Energy Investment

2021 ◽  
Vol 9 ◽  
Author(s):  
Cunyi Yang ◽  
Tinghui Li ◽  
Khaldoon Albitar
Keyword(s):  
Energy Efficiency ◽  
Technical Efficiency ◽  
Fixed Effect ◽  
Scale Efficiency ◽  
Efficiency Change ◽  
Energy Investment ◽  
The Impact ◽  
Moderating Role ◽  
Pm2.5 Concentration

The difficulty of balance between environment and energy consumption makes countries and enterprises face a dilemma, and improving energy efficiency has become one of the ways to solve this dilemma. Based on the data of 158 countries from 1980 to 2018, the dynamic TFP of different countries is calculated by means of the Super-SBM-GML model. The TFP is decomposed into indexes of EC (Technical Efficiency Change), TC (Technological Change) and EC has been extended to PEC (Pure Efficiency Change) and SEC (Scale Efficiency Change). Then the fixed effect model and the fixed effect panel quantile model are used to analyze the moderating effect and the exogenous effect of energy efficiency on PM2.5 concentration on the basis of verifying that energy efficiency can reduce PM2.5 concentration. We conclude, first, the global energy efficiency has been continuously improved during the sample period, and both technological progress and technical efficiency have been improved. Second, the impact of energy efficiency on PM2.5 is heterogeneous which is reflected in the various elements of energy efficiency decomposition. The increase in energy efficiency can inhibit PM2.5 concentration and the inhibition effect mainly comes from TC and PEC, but SEC promotes PM2.5 emission. Third, energy investment plays a moderating role in the environmental protection effect of energy efficiency. Fourth, the impact of energy efficiency on PM2.5 concentration is heterogeneous in terms of national attribute, which is embodied in the differences of national development, science and technology development level, new energy utilization ratio, and the role of international energy trade.

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