scholarly journals The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy

2021 ◽  
Vol 7 (3) ◽  
pp. 711-723
Author(s):  
Muhammad Tasnim Khan ◽  
Sania Sarfraz ◽  
Muhammad Husnain
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Level Control ◽  
Corporate Leadership ◽  
Female Directors ◽  
Female Ceos ◽  
Leadership Structure ◽  
The Impact

Purpose: As per agency theory prospective, board gender diversity enhances the corporate leadership structure which mitigates agency conflicts among stakeholders. Therefore, this study investigates the impact of female directors on board, and female CEOs on firm performance. We also uses board size, and board independence as board level control, while leverage, firm size, capital expenditure & tangibility as firm level control. Design/Methodology/Approach: The study uses a panel data starting from 2005 to 2020 on annual basis. To resolve endogeneity and unobserved heterogeneity problems in panel data analysis, study uses static (fixed effect, & random effect) and dynamic (GMM) estimation techniques in Pakistan. Findings: Result shows the positive impact of female directors on board and female CEOs on firm performance. These findings are robust under alternative measures of firm performance. Implications/Originality/Value: The study suggests that female representation and female CEOs are the important attributes to enhance firm performance. Additionally, females are performing a significant role through monitor and control for excellent corporate leadership structure. Furthermore, this is the first study of its kind which analyzes this relationship in the emerging equity market of Pakistan. 

Analysis of Board Size and Firm Performance: Evidence from NSE Companies Using Panel Data Approach

2016 ◽  
Vol 9 (2) ◽  
pp. 148-172 ◽  
Author(s):  
Anjala Kalsie ◽  
Shikha Mittal Shrivastav
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Fixed Effect Model ◽  
Least Square ◽  
Empirical Literature ◽  
Board Size ◽  
Effect Model

This article seeks to examine the relationship between the board size and firm performance. Existing literature on board size is based on different theories of corporate governance. While agency theory and resource dependency theory suggest that the board size positively affects performance, stewardship theory favours smaller board size and argues that larger board size negatively impacts the firm performance. The present article adds to the empirical literature by employing panel data analysis of 145 non-financial companies listed in the NSE CNX 200 Index of India corresponding to 16 industries. The study is carried out for a period of five years from 2008 to 2012. The firm performance has been measured using Tobin’s Q and the market-to-book value ratio (MBVR) as market-based measures and return on assets (ROA) and return on capital employed (ROCE) as accounting-based measures. The fixed effect model, random effect model and feasible generalised least square (FGLS) regression models are applied to achieve the above-mentioned objectives. The results conclude that the board size has a positive and significant impact on the firm performance.

scholarly journals PRACTICING FRS AND AUDIT QUALITY SUPPORT FINANCIAL SUCCESS OF CONSTRUCTION FIRMS IN MALAYSIA

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Chia Hua Sim ◽  
Daw Tin Hla ◽  
Abu Hassan Md.Isa
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Financial Reporting ◽  
Audit Quality ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Financial Success ◽  
Reporting Standard ◽  
Construction Firms ◽  
The Impact

Prior research findings on the effect of financial reporting and audit quality on firm performance were mixed. The current study therefore, sought to examine the impact of audit quality and FRS practices of firms on their financial success. Samples firms listed on Malaysian stock market were selected from the construction sector for the period of 2010 to 2013. Data was collected from the published annual reports and notes to the financial statements. To assess the level of compliance with the regulations and provisions of the Financial Reporting Standard (FRS) in Malaysia, content analysis was carried out. Firm’s engagement with established audit firm is used as a proxy for audit quality, and return on assets is used as a measure of firm performance. Panel data analysis was employed in analysing the data and testing the stated hypotheses. The use of panel data reveals that practices of FRS by firms is significantly and positively related to their financial performance. The results also indicate that audit quality has a significant positive impact on business financial success. The study therefore recommends that the management of listed construction firms improve their practices of FRS and employ the service of established audit firms in support of financial success. Regular training may be organised to provide construction companies with practical guide for better compliance with the FRS in Malaysia.  

scholarly journals PENGARUH BELANJA PEMERINTAH PUSAT TERHADAP PENERIMAAN NEGARA BUKAN PAJAK PADA KEMENTERIAN NEGARA/LEMBAGA PERIODE 2012-2017

2021 ◽  
Vol 6 (3) ◽  
pp. 227-245
Author(s):  
Puji Wibowo ◽  
Yoopi Abimanyu ◽  
Heri Syafardi ◽  
Muhadi Prabowo ◽  
Iin Indrawati
Keyword(s):  
Panel Data ◽  
Central Government ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Tax Revenue ◽  
Purposive Sampling ◽  
Goods And Services ◽  
Effect Model ◽  
The Impact

Various studies evaluate the impact of budget on government revenue at sub national levels. There are few empirical findings that show how central government budget may influence federal revenue collected by ministries. This study aims to investigate the budget impact of non tax revenue across Indonesian line ministries/agencies in the 2012-2017 period prior to the implementation of Act 9 Year 2018 concerning Non Tax Revenue. By using purposive sampling method, we found there were 24 government institutions observed in this study. We conducted granger causality and panel data analysis by adopting random effect model to examine the effect of goods and services expenditure, capital expenditure, and employee expenditure on non-tax revenue. It is concluded that only government spending on goods and services significantly affects on non-tax revenue performance, while the two other variables have no impacts. Abstrak Sejumlah riset telah dilakukan untuk menguji pengaruh anggaran belanja terhadap pendapatan pemerintah pada level pemerintahan daerah. Sampai saat masih sedikit bukti yang mengungkapkan adanya pengaruh alokasi anggaran belanja pemerintah pusat terhadap pendapatan yang diperoleh Kementerian Negara/Lembaga (K/L). Riset ini bertujuan untuk mengungkapkan pengaruh alokasi anggaran terhadap realisasi Penerimaan Negara Bukan Pajak (PNBP) pada K/L selama periode 2012-2017, sebelum pemberlakuan UU Nomor 9 Tahun 2018 tentang Penerimaan Negara Bukan Pajak. Metode pengambilan sampel yang digunakan adalah purposive sampling, diperoleh 24 instansi pemerintah sebagai objek penelitian. Dengan menggunakan analisis granger dan panel data dengan pendekatan random effect model, penelitian ini menguji pengaruh belanja barang, belanja modal, dan belanja pegawai terhadap kinerja PNBP. Hasil studi ini menyimpulkan bahwa belanja barang berpengaruh signifikan terhadap capaian realisasi PNBP pada K/L, sementara kedua variabel belanja yang lain tidak berdampak signifikan  

scholarly journals The Effect of Audit Quality on Firm Performance: A Panel Data Approach

2019 ◽  
Vol 9 (1) ◽  
pp. 229 ◽  
Author(s):  
May M. Elewa ◽  
Rasha El-Haddad
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Audit Quality ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Auditor Independence ◽  
Return On Equity ◽  
Financial Firms ◽  
Big 4

This study attempts to examine the effect of audit quality on firm performance. It uses financial statements of non-financial firms listed as EGX 100. The population studied consists of thirty non-financial firms. The study covers a five year period 2010-2014. It applies panel data analysis. Independent Variables are Auditor Experience (measured by Big-4) and Auditor Independence (measured by auditor Rotation ROT). Dependent Variables are Return on Assets ROA and Return on Equity ROE. In accordance with the Random Effect Model results, BIG 4 and ROT have an insignificant impact on the ROA and ROE of the firm. External and internal financial statement users may benefit from the study only when dealing with high-profit firms.

Impact of own resources on municipalities’ investments expenditures in Benin

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bernard G. Hounmenou ◽  
Fabrice D. Degbedji
Keyword(s):  
Panel Data ◽  
Central Government ◽  
Local Development ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Well Being ◽  
Content Type ◽  
Explanatory Variables ◽  
Local Resources ◽  
The Impact

Purpose This paper aims to study the impact of municipalities’ own resources on their investments‘ expenditure. Design/methodology/approach Panel data analysis. A sample of 34 municipalities in Benin. Econometrics tests for the panel data models – estimation of the fixed-effect and random-effect models. Hausman test to identify the best model to explain the impact of the explanatory variables on local investments’ expenditures. Heteroskedasticity, normality and autocorrelation tests. Findings The results establish a positive and significant impact of own resources, state transfers and demographic variables on local investments’ expenses. Research limitations/implications As an implication, the results show the importance of local resources’ mobilization for the municipalities’ investment capacity building. They also show that the central government transfers continue to play a major place in local investments’ finance, even in a decentralization context. Limitation: Available data do not allow to well evaluate the impact of the electoral variable on municipalities’ investments’ expenditure. This situation does not allow to well analyze the public choice considerations in local authorities’ behaviors. Practical implications Local mobilization of financial resources must be encouraged to raise municipalities’ investments’ capacities. Strategies must be developed to reinforce local capacities in local resources mobilization. Social implications The results show the importance of local resources in local investments. They show the importance of citizens’ participation in their well-being construction, through local resource mobilization (ex: local fiscality). Originality/value Many authors assert in the literature that financial autonomy has a real impact on local development. However, empirically, it was not demonstrated. This paper contributes to correct this lack.

scholarly journals Corporate Governance Mechanism and Firm Performance as Determinants of CEO Compensation: A Panel Data Analysis of Pakistani Listed Companies

2013 ◽  
Vol 8 (4) ◽  
pp. 307-314
Author(s):  
Zahid Irshad Younas ◽  
Bilal Mehmood ◽  
Asal Ilyas ◽  
Haseeb Asif Bajwa
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Panel Data ◽  
Fixed Effects ◽  
Ceo Compensation ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Governance Mechanism ◽  
Board Size ◽  
The Impact

The purpose of this study is to investigate the impact of corporate governance, firm performance on CEO compensation. More specific, firm performance, board size and audit expenditure are linked with CEO compensation. Using panel data for 151 Pakistani firms listed on Karachi Stock Exchange (KSE), fixed effects regression has been performed. The results indicate firm performance is negatively associated with CEO compensation, which hold managerial power theory. While, board size and audit expenditure showed a positive relationship with CEO compensation, which reflects the presence of human capital theory. The results of study are in line with the prior studies done on CEO compensation.

scholarly journals The Importance of Maritime Transport for Economic Growth in the European Union: A Panel Data Analysis

2021 ◽  
Vol 13 (14) ◽  
pp. 7961
Author(s):  
Alexandra Fratila (Adam) ◽  
Ioana Andrada Gavril (Moldovan) ◽  
Sorin Cristian Nita ◽  
Andrei Hrebenciuc
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Maritime Transport ◽  
The European Union ◽  
Panel Data Regression ◽  
Green Investment ◽  
Port Infrastructure ◽  
The Impact

Maritime transport is one of the main activities of the blue economy, which plays an important role in the EU. In this paper, we aim to assess the impact of maritime transport, related investment, and air pollution on economic growth within 20 countries of the European Union, using eight panel data regression models from 2007 to 2018. Our results confirm that maritime transport, air pollutants (NOx and SO2) from maritime transport, and investment in maritime port infrastructure are indeed positively correlated with economic growth. In other words, an increase of 10% in these factors has generated an associated increase in economic growth rate of around 1.6%, 0.4%, 0.8%, and 0.7% respectively. Alongside the intensity of economic maritime activities, pollution is positively correlated with economic growth, and thus it is recommended that policymakers and other involved stakeholders act to diminish environmental impacts in this sector using green investment in port infrastructure and ecological ships, in accordance with the current European trends and concerns.

scholarly journals Tolerance, Cultural Diversity and Economic Growth: Evidence from Dynamic Panel Data Analysis

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 20
Author(s):  
Osama Alhendi ◽  
József Tóth ◽  
Péter Lengyel ◽  
Péter Balogh
Keyword(s):  
Panel Data ◽  
Cultural Diversity ◽  
English Language ◽  
Panel Data Analysis ◽  
Dynamic Panel Data ◽  
Policy Implications ◽  
Social Tolerance ◽  
Solow Model ◽  
Related Equation ◽  
The Impact

This study aims to examine the impact of social tolerance of cultural diversity, and the ability to speak widely spoken languages, on economic performance. Based on the literature, the evidence is still controversial and unclear. Therefore, the study used panel data relating to (99) non-English speaking economies during the time period between 2009 and 2017. Following the augmented Solow model approach, the related equation was expanded, in this study, to include (besides human capital) social tolerance, the English language (as a lingua franca) and the level of openness. The model was estimated using the two-step system GMM approach. The results show that social tolerance of diversity and English language competence have a positive, but insignificant impact on the economy. Regarding policy implications, government and decision-makers can avoid the costs deriving from cultural diversity by adopting democratic and effective institutions that aim to achieve cultural justice and recognition, which, in turn, enhance the level of tolerance, innovation and productivity in the economy. Moreover, to ease intercultural communication within heterogeneous communities, it is necessary to invest in enhancing the quality of second language education which is necessary to make society more tolerant and the country more open to the global economy.

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