scholarly journals Female Directors, Family Ownership and Firm Performance in Jordan

2019 ◽  
Vol 11 (1) ◽  
pp. 206 ◽  
Author(s):  
Zaid Saidat ◽  
Claire Seaman ◽  
Mauricio Silva ◽  
Lara Al-Haddad ◽  
Zyad Marashdeh
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Public Firms ◽  
Female Directors ◽  
The Impact

This study examines the impact of female directors on the financial performance of family and non-family Jordanian firms. A sample of 103 Jordanian public firms listed on Amman Stock Exchange for the time period 2009-2015 was selected. The study had a quantitative approach and used a panel data methodology. The data analysis was conducted using Ordinary Least Square Regression. ROA and Tobin’s Q were deployed as measurement of financial performance. The appointment of female directors does not have any significant impact on the financial performance of family firms. However, with regard to non-family firms, female directors appeared to have a negative impact on the performance of these firms. The impact of female directors on family firm performance merits further research in the context of different countries and cultures. Appointments based on qualifications and expertise is more likely to have a positive impact. Jordan is an under-researched area where the impact of female directors on the firm performance would merit further research. Differentiating between the impact of female directors on family and non-family firms would also merit further research, especially in the context of the conditions under which they are appointed.

Corporate Social Responsibility and Earnings Management: The Moderating Role of Family Ownership

2019 ◽  
Vol 12 (1) ◽  
Author(s):  
Asif Saeed ◽  
Aijaz Mustafa Hashmi ◽  
Attiya Yasmin Javid
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Earnings Management ◽  
Family Firms ◽  
Negative Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Family Ownership ◽  
Corporate Social ◽  
The Impact

This study aims to explore the impact of family ownership on the relationship among corporate social responsibility (CSR) and earning management (EM) in Pakistan. Data is collected from nonfinancial listed firms on Pakistan Stock Exchange (PSE) for the period 2009-2017. Our results of pooled ordinary least square regression indicate that CSR has significant negative impact on EM. Furthermore, results also indicate that association between CSR and EM is moderated by family ownership. Family firms which perform CSR activities are less involved in EM as compare to nonfamily firms perform CSR activities. This variation in behavior of EM in family and non-family firms can possibly be explained by socioemotional wealth theory. Keywords: Corporate Social Responsibility, Earnings Management, Family Ownership

scholarly journals Impact of Corporate Governance on Dividend Policy: Evidence from Pakistan

2021 ◽  
Vol 3 (3) ◽  
pp. 353-366
Author(s):  
Abdul Hameed ◽  
Farheen Zahra Hussain ◽  
Khawar Naheed ◽  
Muhammad Sadiq Shahid
Keyword(s):  
Corporate Governance ◽  
Dividend Policy ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Payout Policy ◽  
Least Square ◽  
Political Connection ◽  
Dividend Payment ◽  
The Impact

Purpose: The objective of the paper is to examine the impact of corporate governance on the dividend payout policy of firms listed on the Pakistan stock exchange during 2010-2020. As Pakistani investors face issues regarding their return in the shape of dividends and depend upon the firm’s corporate governance strength. To test whether changes in firm code of corporate governance have a significant influence on dividend policy. Design/Methodology/Approach: The panel data has been used for the period 2010-2020 and panel least square has been applied. Further, to test the association, following factors such delisting risk, government tenure, political connection with institutional shareholding as many political firms hold corporate shares which influence the decision to pay dividends. Findings: Findings from the fixed effect model show that corporate governance has a negative impact on dividend policy while government tenure, politically connected firm has a positive impact on the dividend. The study also concludes that firm size, profitability, tax, asset turnover, leverage, and firm shareholding also influence firm dividend payment behavior. Implications/Originality/Value: The implication of study reveals that firms must focus on strong their governance and include more independent directors on the board which leads to favorable strategies regarding investors. The investor must invest in those firm where lower political connection, pay continuous dividend either high or low decease/increase delisting chances, strong corporate governance and firm specific factors also lead to make decision of dividend payment.

scholarly journals The Impact of Financial Structure Towards Performance of Non-Financial Companies Listed on Amman Stock Exchange

2021 ◽  
Vol 20 (1) ◽  
pp. 61-83
Author(s):  
Laith Fouad Alshouha ◽  
◽  
Wan Nur Syahida Wan Ismail ◽  
Mohd Zulkifli Mokhtar ◽  
Nik Mohd Norfadzilah Nik Mohd Rashid ◽  
...  
Keyword(s):  
Firm Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Financial Structure ◽  
Managerial Ownership ◽  
Data Set ◽  
Amman Stock Exchange ◽  
The Impact ◽  
The Relationship

The purpose of the current study was to investigate the relationship between financial structure towards the financial performance of companies listed on Amman stock exchange (ASE) as one of the emerging economies. This paper adopted a panel data set of 88 non-financial companies listed on the ASE over a period of 10 years from 2009 to 2018. According to empirical results that there is significant evidence to support the fact that debt repaying ability (DRAB), managerial ownership (MANOW), and foreign ownership (FOROW) are positively related to firm performance. Otherwise, the findings revealed no evidence to support the impact of the financial structure ability (FSA) towards firm performance. Moreover, the findings support the fact that firm size (SIZ) has a positive impact on firm performance of companies listed on the ASE. On the other hand, (AGE) has a negative impact on firm performance, while (GROWTH) has no impact on firm performance. The current study encourages managers to maintain a good percentage of debt repaying ability and owners to grant shares as managers’ incentives, and also to attract foreign investors. Future studies, should try applying the current study on the financial sector.

scholarly journals The Impact of Corporate Social Responsibility on the Financial Performance of Listed Companies in Thailand

2021 ◽  
Vol 13 (16) ◽  
pp. 8920
Author(s):  
Muttanachai Suttipun ◽  
Pankaewta Lakkanawanit ◽  
Trairong Swatdikun ◽  
Wilawan Dungtripop
Keyword(s):  
Financial Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Descriptive Analysis ◽  
Listed Companies ◽  
Annual Reports ◽  
Corporate Social ◽  
The Impact

This study aims to: (1) investigate the amount of corporate social and environmental responsibility (CSR) spending, awards, and activities of listed companies in the Stock Exchange of Thailand (SET) and in the Market for Alternative Investment (MAI); (2) test the impact of CSR spending, awards, and financial performance activities; and (3) examine the amount of CSR spending, awards, and activities between companies with and without a CSR committee. The sample included all the listed companies in the resource industry from the SET and the MAI. The data were collected from the companies’ annual reports from 2015 to 2019. Descriptive analysis, an independent-sample t-test, a correlation matrix, and an unbalanced panel data analysis were used to analyze the data. The average level of spending per activity was 2.2964 million baht. There were, on average, 2.1741 awards and 11.4178 activities during the studied period. Moreover, there was a significant negative impact of CSR spending, and a positive impact of CSR awards and activities, on corporate financial performance. Finally, there was a significantly different amount of CSR spending, awards, and activities between the companies with and without a CSR committee. The findings of this study demonstrate that legitimacy theory can be used to explain the benefit of CSR to Thai-listed companies, although CSR is still a voluntary corporate responsibility in Thailand.

scholarly journals The Effect of IAS-24 Disclosures on Governance Mechanisms and Ownership Structures in Pakistan

2016 ◽  
Vol 5 (1) ◽  
pp. 15-36
Author(s):  
Abdul Rafay Abdul Rafay ◽  
Ramla Sadiq ◽  
Mobeen Ajmal
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Reporting ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Governance Mechanisms ◽  
Ownership Structures ◽  
The Impact

IAS-24 of the International Financial Reporting Standards focuses on the concept and disclosures of related party transactions (RPTs) for a reporting entity. This study examines the interrelationship between RPTs (as disclosed under IAS-24), agency theory, ownership structures and firm performance. Our sample includes nonfinancial companies indexed by the KSE-100 of the Pakistan Stock Exchange during 2006–15. To run the regression models, we determine the regression assumptions, normality, heteroskedasticity, autocorrelation and multicollinearity. We investigate the impact of different RPTs, including cash inflows and outflows, whereas other studies generally look at the impact of RPTs on firm performance in totality. The empirical analysis suggests that institutional ownership has a positive, significant impact on firm performance. Related party purchases have a significant, negative impact on performance, resulting in the expropriation of institutional ownership. RPTs that generate revenues have a significant, positive impact on performance, such that institutional ownership has a propping-up effect with respect to the related parties. In practice, institutional ownership leads to strong corporate governance and contributes to firm performance. While other studies find family ownership responsible for the expropriation effect, we argue that institutional ownership has a propping-up and expropriation effect on related parties. Our study also suggests that certain ownership structures lead to weaker corporate governance mechanisms, resulting in greater agency problems. This, in turn, badly affects company performance and leads to the exploitation of minority shareholders.

scholarly journals EFFICIENCY OF USING ASSET AND FINANCIAL PERFORMANCE: THE CASE OF INDONESIA MANUFAKCTURING COMPANIES

2020 ◽  
Vol 10 (2) ◽  
pp. 180
Author(s):  
Miswanto Miswanto ◽  
Diczon Stevanus Oematan
Keyword(s):  
Financial Performance ◽  
Firm Value ◽  
Latent Variable ◽  
Stock Return ◽  
Negative Impact ◽  
Positive Impact ◽  
Shareholder Wealth ◽  
Partial Least Square ◽  
Least Square ◽  
The Impact

This study analyzes the impact of asset use efficiency on financial performance and the impact of financial performance on shareholders' wealth. By using a research sample of manufacturing firms listed on the Indonesia Stock Exchange (IDX), the purpose of this study is to test whether: 1) the efficiency of using asset has a positive impact on financial performance and 2) financial performance has a positive impact on the welfare of shareholders. The analytical method uses SEM (Structural Equation Model) –(PLS (Partial Least Square) using WarpPLS 5.0. The asset efficiency variable is measured by activity ratios and the shareholder wealth variable is measured by stock return and firm value. The analytical techniques that used are outer model and inner model analysis. The variables of asset efficiency and shareholder wealth are measured variables and the financial performance variable is latent variable. The proceeds of his study state that the activity ratio: 1) working capital turnover (WCT), receivable turnover RCT), inventory turnover (INT), total asset turnover (TAT) have a positive impact on financial performance, and 2)  cycle of cash conversion (CCC) has a negative impact on financial performance. The results of this study also states that financial performance positive impact on stock return and firm value. Thus, this study finds that the efficiency of using asset has a positive impact on financial performance, and performance of financial has a positive impact on stockholder wealth

scholarly journals Gender-Diversity, Financial Performance and Cash Holding in Family Firms

2018 ◽  
Vol 3 (4) ◽  
pp. 124-130
Author(s):  
Salehudin Eka Saputra Alrasidi, ST ◽  
Farida Titik Kristanti, S. E. M. Si
Keyword(s):  
Financial Performance ◽  
Family Firms ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Least Square ◽  
Cash Holding ◽  
Return On Assets ◽  
Independent Variables ◽  
Growth Opportunity ◽  
The Impact

Objective - This research aims to determine the presence of partial effects on gender-diversity and financial performance variables on the cash holding of family firms on the Indonesian Stock Exchange included in the Kompas100 index. Methodology/Technique - The approach used in this research was causal associative testing using a panel data regression with a General Least Square (GLS) method using six independent variables: size, growth opportunity, dividend, return on assets, leverage, and gender diversity. Meanwhile, cash holding acts as a dependent variable. Findings - The results of the research show that the independent variables of leverage have significantly negative relationships on cash holding on the Kompas100 index of Indonesia in the period of 2013-2016. Contrary to this, return on asset has a significantly positive relationship with cash holding. Novelty - Gender diversity is an important variable of boardroom; this paper reveals the impact of gender diversity and performance on family holding firms. These results can be used to assess the performance and fundamentals of a firm. Type of Paper Empirical Keywords: Cash Holding; Dividend; Gender Diversity; Growth Opportunity; Leverage; Return on Assets; Size. JEL Classification: M40, M41, M49.

scholarly journals Analisis Pengaruh Keterlibatan Keluarga terhadap Kinerja Perusahaan di Indonesia

Owner ◽  
2022 ◽  
Vol 6 (1) ◽  
pp. 359-368
Author(s):  
Santi Yopie ◽  
Chrislin Chrislin
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Family Firm ◽  
Cross Sectional ◽  
Firm Reputation ◽  
Family Presence ◽  
Study Results

Family businesses have steadily dominated the economy sector in recent decades. A number of scholars have focused on the link between management by family members and firm performance. However, the findings are not conclusive and vary. As a result, a re-examination is necessary. The goal of this research is to determine the possible influences caused by family presence, non-family shareholders, professional president directors, and founder-managed firms on firm performance, as well as the link between family presence and firm performance when family firm reputation is taken into the account. Firm performance was valued by measuring return on asset and equity, sales growth, and tobin’s q. This study examined 600 samples consisting 120 family firms in manufacturing and service sectors on Indonesia’s Stock Exchange beginning with the year 2016 – 2020. To make data analysis more straightforward, panel regression research (time series and cross-sectional data) was conducted utilizing PLS 3.0 software. The study results prove family presence, professional president directors, and founder-managed firms have positive impact on firm performance. Meanwhile, non-family shareholders showed negative impact towards firm performance. Furthermore, the findings of this study also show the favorable impact of family presence on firm performance may be bolstered by family firm reputation.

scholarly journals KOMITE AUDIT SEBAGAI PEMODERASI PENGARUH WORKLOAD DAN MASA PERIKATAN AUDIT PADA KUALITAS AUDITe

2016 ◽  
Author(s):  
Theresia Julina Rusli ◽  
I Dewa Nyoman Wiratmaja
Keyword(s):  
Audit Committee ◽  
Sampling Method ◽  
Audit Quality ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Quality Audit ◽  
Final Sample ◽  
The Impact

This  research  aims to find empirical evidence  about the impact  of  workload  and  audit tenure  on  audit quality  and  using audit  committee  as  a  moderating  variable. This  research  focused  on  manufacturing companies  that  listed  on  the  Indonesia Stock Exchange. Sample was collected using   purposive sampling method and resulted 31  companies as a final sample.  The  data are analyzed by using Moderated Regression Analysis (MRA). The results of  this research indicate  that the  workload  has a negative  impact on  audit quality.  Audit tenure has a positive impact on audit quality. Audit committee reduces the negative impact of workload on audit quality. And audit committee reduces the positive impact of audit tenure on audit quality.

scholarly journals The Impact of Innovation Strategy on the Financial, Social and Environmental Performance

2021 ◽  
Vol 1 (1) ◽  
pp. 33-39
Author(s):  
Hamid Saremi ◽  
Masoud Mahmoudi ◽  
Mojtaba Soltaninezhad ◽  
Mohammad Hosseinpour
Keyword(s):  
Financial Performance ◽  
Environmental Performance ◽  
Positive Impact ◽  
Stock Exchange ◽  
Social Performance ◽  
Point Of View ◽  
Innovation Strategy ◽  
Management Tools ◽  
Social And Environmental Performance ◽  
The Impact

The core purpose of this study is to investigate the effect of innovation strategy on financial, social and environmental performance of companies listed on the Tehran Stock Exchange (TSE). The information used is from 129 companies listed on TSE in different industries between 2011 and 2018 (1032 observations). In order to analyze the data, a multivariate regression test was used. The results showed a positive and significant relationship between innovation strategy on financial performance and environmental performance. Also, the relationship between innovation strategy and social performance has a positive but insignificant. Innovation tools are also among the few management tools that can have a positive impact on both financial performance and the company's environmental performance. In this research, an attempt has been made to look at the idea of innovation from a financial point of view, and its results in the long run indicate the right choice of management to invest in the company's research and development unit.

Sign in / Sign up

Export Citation Format

Share Document