scholarly journals Investor Sentiment, Government Control and Corporate Investment Efficiency

2019 ◽  
Author(s):  
Xiaoxi Chen ◽  
Lili Zhang ◽  
Yingming Wang
Keyword(s):  
Investor Sentiment ◽  
Corporate Investment ◽  
Investment Efficiency ◽  
Government Control

Firm Efforts to Improve Employee Quality and Corporate Investment Efficiency

2020 ◽  
Author(s):  
Seraina C. Anagnostopoulou ◽  
Argyro Avgoustaki ◽  
Beatriz Garcia Osma
Keyword(s):  
Corporate Investment ◽  
Investment Efficiency

Islamic banking and corporate investment efficiency: empirical evidence from Malaysia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Moncef Guizani ◽  
Ahdi Noomen Ajmi
Keyword(s):  
Empirical Model ◽  
Generalized Method Of Moments ◽  
Corporate Investment ◽  
Investment Efficiency ◽  
Islamic Banks ◽  
Agency Conflicts ◽  
Content Type ◽  
Listed Firms ◽  
Lower Effect

PurposeThe purpose of this paper is to examine whether and how Islamic banks' financing affects corporate investment efficiency.Design/methodology/approachTo achieve the research purpose, an empirical model was constructed to describe the relationship between Islamic banks' financing and corporate investment efficiency. The empirical model was tested through generalized method of moments (GMM) estimation technique using a panel data of 163 Malaysian listed firms for the period 2007–2017.FindingsThis study provides evidence that Islamic banks' financing plays an important role in enhancing investment efficiency and that this positive effect comes mainly from non-PLS contracts. Moreover, the results show that the effect of Islamic banks' financing in preventing suboptimal investments is stronger in the financial crisis period. The results also reveal that the contribution of Islamic banks' financing in reducing suboptimal investments is more prominent when firms face over-investment problems.Research limitations/implicationsThis research contributes to the debate on the financial implications of Islamic banks' financing modes by exploring their effect on corporate investment efficiency.Practical implicationsFrom a managerial perspective, the research findings are beneficial to Islamic bank managers to the extent that they highlight the role of Islamic financial contracts in improving corporate investment efficiency. In addition, the lower effect of PLS contracts on investment efficiency implies that policymakers in Malaysia should multiply their efforts to further expand the PLS financing.Originality/valueThis paper offers some insights on the role of Islamic banks' financing in mitigating agency conflicts and reducing asymmetric information problems. It is the first attempt focusing on the role of Islamic financing in fostering corporate investment decisions.

scholarly journals Female CEOs and corporate investment efficiency: Evidence from China

2020 ◽  
Author(s):  
Irfan Ullah ◽  
Muhammad Ansar Majeed ◽  
Hong- Xing Fang
Keyword(s):  
Corporate Investment ◽  
Investment Efficiency ◽  
Female Ceos

scholarly journals Does corporate investment efficiency affect corporate disclosure practices?

2020 ◽  
Vol 21 (2) ◽  
pp. 309-327
Author(s):  
Noha Elberry ◽  
Khaled Hussainey
Keyword(s):  
Voluntary Disclosure ◽  
Corporate Investment ◽  
Good News ◽  
Investment Efficiency ◽  
Corporate Disclosure ◽  
Content Type ◽  
High Level ◽  
The Impact ◽  
Practical Implications ◽  
Disclosure Practice

PurposeThe authors examine the impact of corporate investment efficiency on corporate voluntary disclosure for a sample of UK non-financial companies.Design/methodology/approachThe authors use a sample of FTSE All-Share firms for the period of 2007–2014. Disclosure scores are collected from Corporate Financial Information Environment (CFIE). They follow Biddle et al. (2009) and Chen et al. (2011) in measuring corporate investment efficiency.FindingsThe authors find that high level of performance-related disclosure is associated with high level of corporate investment efficiency, while high level of good news information is associated with low level of corporate investment efficiency. They also find evidence on a bidirectional relation between disclosure and corporate investment efficiency.Research limitations/implicationsThe authors’ findings would be of importance to stakeholders and corporations. Stakeholders' investment decisions could be facilitated by understanding the disclosures provided by their firms and how these firms' performance is presented. Corporations become aware of the language which must be used to signal their performance.Practical implicationsCorporations become aware of the language which must be used in their disclosures. As firms may reflect their efficient investments but not in the form of good news in order to avoid revealing their competitive advantage to competitors.Originality/valueThis paper adds to disclosure studies by introducing a new variable, corporate investment efficiency, as a determinant of corporate disclosure practice.

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