Empirical Study on the Independent Director System' Effectiveness on the Corporate Performance of Listed Companies in Shenzhen Stock Exchange

2012 ◽  
Vol 468-471 ◽  
pp. 1595-1598
Author(s):  
De Lu Wang ◽  
Ping Juan Liang
Keyword(s):  
Empirical Study ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Listed Companies ◽  
Independent Directors ◽  
Independent Director ◽  
System Effectiveness

This essay has chosen 568 companies listed in Shenzhen Stock Exchange (SZSE) as research samples. And it empirically analyzed the independent director system' effectiveness on the corporate performance. The result indicates that the proportion of independent directors is not significantly correlated with corporate performance, and that the independent directors' compensation is significantly positively correlated with the company’s performance and that the meeting attendance of independent directors is not significantly positively correlated with firm’s performance. At last, two proposals are put forward: firstly, broaden the company information's delivery channels to independent directorst; secondly, perfect the incentive and constraint mechanism of independent directors

scholarly journals The resource provision capability of independent directors in family-controlled, publicly-listed companies in Malaysia

2016 ◽  
Vol 13 (4) ◽  
pp. 403-413 ◽  
Author(s):  
Saeed Pahlevan Sharif ◽  
Ken Kyid Yeoh
Keyword(s):  
Stock Exchange ◽  
Listed Companies ◽  
Annual Reports ◽  
Independent Directors ◽  
Independent Director ◽  
Government Contracts ◽  
Capability Index ◽  
Wide Range ◽  
Comprehensive Measurement ◽  
Director Characteristics

To develop a comprehensive measurement index that captures a wide range of independent director characteristics that collectively reflect their overall resource provision capability in the context of Malaysian publicly-listed companies. A detailed content analysis of independent director-related disclosures in the annual reports of 217 family-controlled companies listed on the Malaysian stock exchange (Bursa Malaysia). Ten distinctive types of ‘resource’ that independent directors bring to their respective companies were identified. These resources (e.g. government contracts, networks, loans, expertise, etc.) are then utilized to develop a resource provision capability index. The resultant index provides a fair indication of independent directors’ contribution to enhancing/sustaining their respective companies’ performance. The developed comprehensive resource provision capability index can be used to explore as well identify the specific nature of independent director contribution to their respective firms. This study makes a contribution to the governance literature by elaborating on independent directors’ resource provision role that has been generally ignored in “Western” studies. More specifically, not only we are proposing that independent directors’ role transcends the classic, Western-inspired monitoring role, we provide evidence of other specific means by which they can contribute to their respective firms and offer a framework to capture all such capability in a concurrent manner

scholarly journals Independent Director, Executives Compensation and Corporate Performance-Correcting Self-Selection Bias by Matching Methods

2016 ◽  
Vol 8 (8) ◽  
pp. 156
Author(s):  
Yuan Chang ◽  
Pang-Tien Lieu
Keyword(s):  
Executive Compensation ◽  
Selection Bias ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Sample Selection ◽  
Board Independence ◽  
Independent Director ◽  
Economic Consequence ◽  
Self Selection ◽  
Two Step Estimation

Based on data of listed companies on Taiwan Stock Exchange (TWSE) through 2001~2011, this paper examines whether board independence has effects on executive compensation and corporate performance. Existing studies lacked of considering self-selection of board independence in evaluating the effects of board independence on economic consequence. This may incur estimation bias because systematic factors determining firm’s introducing independent director also have influences on economic consequence. While Heckman (1979)’s two-step estimation addressed selection duo to unobservables, this paper employs propensity score matching (PSM) from Rosenbaum and Rubin (1983, 1985a,b) to address sample selection duo to observables, and forms two groups of samples, namely, firms with independent director and firms without independent director but share similar characteristics with the former. Empirical evidence from regression estimation shows divergent outcomes under before-matching versus after-matching samples. Before matching, greater degree of board independence is associated with higher profitability and higher level of total and average executive compensation. After matching, outperformance as well as overpay on executive compensation of firm with greater board independence is vanished. After controlling selection bias duo to observables versus unobservables, our evidence concludes that greater board independence is uncorrelated with greater corporate performance and executive compensation overpay.

scholarly journals The Relationship between Corporate Performance and Ownership Structure: Evidence from Turkey

2015 ◽  
Vol 5 (2) ◽  
pp. 9-18
Author(s):  
Hicabi Ersoy ◽  
Ayben Koy
Keyword(s):  
Ownership Structure ◽  
Significant Relationship ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Listed Companies ◽  
Main Hypothesis ◽  
Statistical Population ◽  
Istanbul Stock Exchange ◽  
Negative Effect ◽  
The Relationship

This study investigates the effects of ownership structure on the performance of the listed companies in Borsa Istanbul Stock Exchange 30 Firms (BIST 30). The main hypothesis of our study is that there is a significant relationship between companies' performances and their ownership structures.The statistical population includes 19 non-financial companies in the period of years between 2008 and 2013. The results show that the concentration of the large shares of companies one or a few share holders has a negative effect on related firm’s performance.

scholarly journals Earning Management AND International Financial Reporting Standard (IFRS) Implementation Process: Empirical Study

2020 ◽  
Vol 9 (2) ◽  
pp. 603
Author(s):  
Omar Alhawatmeh
Keyword(s):  
Empirical Study ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Implementation Process ◽  
Listed Companies ◽  
Earning Management ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Amman Stock Exchange ◽  
Jones Model

This research came for studying the implementation IFRSs and its impact on earning management in Jordan .The data onto analysis will be the  listed companies of Amman Stock Exchange (ASE) for period is from 2001-2018, and to find value earning management (EM), we used modified Jones model .the result shows the implementation IFRS have negatively effects on earning management.

scholarly journals The measurement of intellectual capital by market capitalization method: Empirical study of Polish listed companies

2017 ◽  
Vol 5 (2) ◽  
pp. 106-115
Author(s):  
Salome Svanadze ◽  
Magdalena Kowalewska
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Market Value ◽  
Financial Statements ◽  
Listed Companies ◽  
Future Research ◽  
Book Value ◽  
Warsaw Stock Exchange

Intellectual capital has become a fundamental source for enterprises, but its measurement and reporting remain a major challenge for managers and researchers. The purpose of this paper is to examine and report the differences in the Intellectual Capital (IC) Market Value (MV) to Book Value (BV) of the Polish WIG 20 indexed companies from Warsaw Stock Exchange. The data necessary to perform the calculations in accordance with the MV/PV method came from the financial statements for the period 2010-2014 of 20 Polish companies. The MV/BV method provides the means to measure intellectual capital in a precise and timely calculation and is particularly useful for the companies that are listed on the stock market. Results are presented and followed by discussion and implication for future research.

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