scholarly journals Corporate Governance Structure and Performance in the Tourism Industry in the COVID-19 Pandemic: An Empirical Study of Chinese Listed Companies in China

2021 ◽  
Vol 13 (21) ◽  
pp. 11722
Author(s):  
Shanyue Jin ◽  
Yuying Gao ◽  
Shufeng (Simon) Xiao
Keyword(s):  
Governance Structure ◽  
Tourism Industry ◽  
Control Group ◽  
Operating Pressure ◽  
Difference In Differences ◽  
Corporate Governance Structure ◽  
Public Health Emergencies ◽  
Chinese Listed Companies ◽  
Tourism Enterprises ◽  
And Performance

All industries around the world have been greatly impacted by the 2019 COVID-19 outbreak. China’s tourism market was almost suspended. Tourism enterprises generally face difficulties in the form of low capital turnover and increased operating pressure, and the overall tourism industry is showing a downturn in its development. In this study, we construct a quasi-natural experiment with the COVID-19 pandemic in public health emergencies using a propensity score matching difference in differences model (PSM-DID) to match the treatment group of tourism enterprises and the control group of non-tourism enterprises. We empirically test that the COVID-19 pandemic has produced a more severe impact on the performance of tourism enterprises than other industries. Further analysis shows that given different enterprise equity natures, the characteristics of the board, supervision, and executive salary incentive levels, the COVID-19 pandemic has a heterogeneous impact on the operating performance of tourism enterprises.

scholarly journals Corporate governance and performance: A study of the reform of cooperative credit system in Italy

2020 ◽  
Vol 18 (1, Special Issue) ◽  
pp. 370-381
Author(s):  
Elena Bruno ◽  
Giuseppina Iacoviello
Keyword(s):  
Corporate Governance ◽  
Radical Change ◽  
Governance Structure ◽  
Credit System ◽  
Corporate Governance Structure ◽  
Control Functions ◽  
Pilot Model ◽  
And Performance ◽  
Universal Applicability

The aim of the paper is to identify and discuss the suitability of the corporate governance structure of the Cooperative Banking Group (CBG) for preserving the distinctive characteristics of the cooperative credit banks (CCBs), such as mutuality and localism, as well as for guaranteeing the levels of capitalization, respecting the overall performance objectives. The analysis methodology uses a case study. The paper provides some reflections on the possible impacts of a radical change in the Italian cooperative credit system following the 2016 reform. The pilot model needs further adjustments in itinere, based on rigorous empirical tests conducted to confer on it the characteristics of universal applicability in the context of the CCBs. The major contribution of the paper is evident from the resulting interpretative process; the analysis conducted on a case study allows us to highlight the importance of the organizational dimension in the CCBs; the performances achieved by these, although with some distinctions throughout the Italian territory, are the result of the adequacy of the governance structures and the corporate control functions, which, even when partly outsourced, are always rigorously inspired by the logic of interconnection among those responsible for the functions themselves

scholarly journals Corporate governance and corporate performance: evidence from Kuwait

2009 ◽  
Vol 7 (1) ◽  
pp. 334-349 ◽  
Author(s):  
Bader Al-Shammari ◽  
Waleed Al-Sultan
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Governance Structure ◽  
Board Size ◽  
Corporate Governance Structure ◽  
Accounting Performance ◽  
Corporate Scandals ◽  
Kuwait Stock Exchange ◽  
And Performance ◽  
The Relationship

An increasing number of recent corporate scandals and failures worldwide give rise to interest in the corporate governance structure in the performance of companies. This study investigates the relationship between corporate governance characteristics and performance of 66 non-financial companies listed on the Kuwait Stock Exchange (KSE) during the years 2004-2007. The findings of this study show that corporate governance characteristics such as board size, role duality, and less concentrated share ownership were positively associated with market performance, whereas only board size and role duality were positively related to accounting performance. The result is robust with respect to controls for company size, leverage, and industry.

Impact of Lifestyle-Oriented Motivation on Small Tourism Enterprises’ Social Responsibility and Performance

2018 ◽  
Vol 58 (7) ◽  
pp. 1146-1160 ◽  
Author(s):  
Caiping Wang ◽  
Gang Li ◽  
Honggang Xu
Keyword(s):  
Social Responsibility ◽  
Small Businesses ◽  
Structural Equation ◽  
Tourism Industry ◽  
Equation Modeling ◽  
Small Enterprises ◽  
Managerial Implications ◽  
Tourism Enterprises ◽  
And Performance ◽  
Corporate Social

Lifestyle-oriented motivation (LOM) is the reason that the owners of many small enterprises start and operate businesses in the tourism industry. Using a sample of guesthouses in historic Chinese towns, this study examines how LOM affects these small businesses’ corporate social responsibility (CSR), performance, and owners’ intentions to sustain operations. Applying the structural equation modeling approach to a sample of 154 guesthouses, this study finds that LOM positively influences CSR, performance, and owners’ operational intentions. Specifically, LOM promotes each dimension of CSR activities (product, environment, community, employees, and heritage protection); however, it only increases firms’ subjective performance and has no significant influence on their objective performance. The mediating effects of CSR and performance on the path from LOM to owners’ operational intentions are also demonstrated. Lastly, the theoretical and managerial implications of the findings are discussed.

scholarly journals Director remuneration, corporate governance and performance: A comparison between government linked companies vs non government linked companies

2014 ◽  
Vol 10 (2) ◽  
pp. 46-63
Author(s):  
Nazrul Hisyam Ab Razak
Keyword(s):  
Corporate Governance ◽  
Governance Structure ◽  
Matched Pair ◽  
Company Performance ◽  
Government Control ◽  
Government Ownership ◽  
Corporate Governance Structure ◽  
Significant Relationships ◽  
And Performance ◽  
The Impact

This study has examined the relationship between director’s remuneration, corporate governance structure and performance of a sample of 150 companies listed on the Bursa Malaysia from year 2008 until 2013. The sample was selected to provide matched-pair of government linked companies (GLCs) and non-government linked companies (non-GLCs), as it was anticipated that these group would have different governance structure, the key difference being government ownership. The result holds even when we control for company specific characteristic such as corporate governance, company size, leverage, director’s remuneration, board size and auditors. This study uses panel based regression model to examine the impact of government control mechanism on company performance using two important measurers. These are accounting based measure proxies by ROA and non-accounting based measures by Tobin’s Q. Statistically significant relationships were found across the groupings and for different performance measures. Findings appear to suggest that there is a significant impact of government ownership on company performance after controlling for company specific characteristics.

scholarly journals The corporate governance structures of GLCs and NGLCs and firm performance in Malaysia

2011 ◽  
Vol 8 (2) ◽  
pp. 1
Author(s):  
Azmi Abd. Hamid
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Univariate Analysis ◽  
Governance Structure ◽  
Governance Structures ◽  
Return On Assets ◽  
Corporate Governance Structure ◽  
Return On Equity ◽  
Significant Relationships ◽  
And Performance

This study examines the relationship between corporate governance structures and the performance of matched-pairs of Government Linked Companies (GLCs ) and Non-Government Linked Companies INGLCs). The empirical results indicate that there are eight statisticallv significant differences between the corporate governance structures of GLCs and NGLCs, thus providing a rationale for examining the association between corporate governance structure and firm performance of these two distinct groups. Accordingly, univariate and multivariate analyses were performed on two sample sets: GLCs and NGLCs. In the univariate analysis, only Board size (BSZ) exhibited a significant relationship with respect to firm performance, in contrast the multivariate analysis found no empirical evidence of a consistent relationship between corporate governance structure and performance, which was measured in relation to return On Assets (ROA) and Return On Equity (ROE) in GLCs and NGLCs over the same period. Statistically significant relationships were found across groupings and for different performance measures, but were not sustained across all the years considered. The results indicate that despite the identification of eight differences in the governance structures of GLCs and NGLCs, the observed differences in firm performance cannot be explained by governance structure. This finding supports the view that governance structures purely provide appropriate means to monitor company management rather than improve performance.

scholarly journals Corporate Governance and Performance of Financial Institutions in Pakistan: A Comparison between Conventional and Islamic Banks in Pakistan

2010 ◽  
Vol 49 (4II) ◽  
pp. 461-475 ◽  
Author(s):  
Ramiz Ur Rehman Ramiz Ur Rehman ◽  
Inayat Ullah Mangla
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Financial Institutions ◽  
Governance Structure ◽  
Islamic Banks ◽  
Corporate Governance Structure ◽  
And Performance ◽  
Monitoring Performance ◽  
Conventional And Islamic Banks ◽  
The Way

Corporate Governance refers to the way an organisation is directed, administrated or controlled. It includes the set of rules and regulations that affect the manager’s decision and contribute to the way company is perceived by the current and potential stakeholders. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation such as; boards, managers, shareholders and other stakeholders and spells out the rules and procedures and also decision-making assistance on corporate affairs. By doing this, it also provides the structure through which the company’s objectives are set and the means of obtaining those objectives and monitoring performance. Corporate governance may be the ways of bringing the interests of investors and managers into line and ensuring that firms are run for the benefit of investors.

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