scholarly journals Board Independence and Firm Financial Performance: Context of Publicly Traded Manufacturing Companies in Bangladesh

2019 ◽  
Keyword(s):  
Financial Performance ◽  
Board Independence ◽  
Manufacturing Companies ◽  
Publicly Traded ◽  
Firm Financial Performance ◽  
Performance Context

scholarly journals Relation of Corporate Governance with Financial Performance

2014 ◽  
Vol 40 ◽  
pp. 35-40
Author(s):  
Naveed Ahmad ◽  
Nadeem Iqbal ◽  
Muhammad Sulaman Tariq
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Audit Committee ◽  
Insurance Industry ◽  
Board Independence ◽  
Positive Direction ◽  
Ceo Duality ◽  
Return On Equity ◽  
Firm Financial Performance

The intention of the work is to prove that corporate governance is essential to uninterrupted operation of any corporation, while more consideration to the process such that governance. Hence it is transparent what is commonly intermediate by corporate governance. This work proves a link with the corporate governance and firm financial performance in insurance industry of Pakistan. It included three variables which are Audit committee independence, board independence and CEO duality for corporate governance. The degree of firm’s performance is limited by return on equity and asset. This work gives a positive direction for exploring this concept.

FURTHER EVIDENCE ON THE LINK BETWEEN FIRM’S CONTROL MECHANISMS AND FIRM FINANCIAL PERFORMANCE: SULTANATE OF OMAN

2020 ◽  
Vol 4 (1) ◽  
pp. 1-6
Author(s):  
Essia Ries Ahmed ◽  
Tariq Tawfeeq Yousif Alabdullah ◽  
Muhammad Shabir Shaharudin ◽  
Eskasari Putri
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Audit Committee ◽  
Board Independence ◽  
Control Mechanisms ◽  
Sultanate Of Oman ◽  
Firm Financial Performance ◽  
Corporate Social

Based on the agency theory perspective and its corporate governance problem, the current study investigated how control mechanisms affect firm financial performance with special concentrate on the role of audit committee on the enhancement of firm financial performance. The empirical findings of this study based on the listed companies in the Sultanate of Oman revealed that the control mechanisms, including committee size and board independence, positively enhance financial performance represented by ROE and therefore this leads to encourage firms to focus on such mechanisms. By contrast, audit size, board size and board independence are totally not motivated to engage with financial performance due to the insignificant link with ROA. On the other hand, a negative correlation has been found between board meeting and financial performance represented by ROE. The practical evidence of the implications  by the current study found that for improvement of firm financial performance; that even though if most of the GCC governments recently have focused on corporate social responsibility because largely voluntary nature of corporate social responsibility, they should focus of the control mechanisms that suggested by the current study to play a significant role for enhancing firm financial performance.

scholarly journals Effect of Corporate Financial Leverage on Financial Performance: A Study on Publicly Traded Manufacturing Companies in Bangladesh

2018 ◽  
Vol 14 (12) ◽  
pp. 124 ◽  
Author(s):  
Ripon Kumar Dey ◽  
Syed Zabid Hossain ◽  
Rashidah Abdul Rahman
Keyword(s):  
Financial Performance ◽  
Empirical Studies ◽  
Order Theory ◽  
Manufacturing Companies ◽  
Financial Leverage ◽  
Publicly Traded ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Debt Capital ◽  
Equity Ratio

The study strives to examine the effect of financial leverage on financial performance in a developing country context using two OLS regression models based on panel data consisting of 816 cases (48 companies x 17 years). Financial performance is measured using ROA, ROE, EPS, and Tobin’s Q, and financial leverage is measured using the debt-assets ratio and debt-equity ratio. It is observed that ROA and Tobin’s Q are negatively correlated with financial leverage, which is in line with the assumptions of the pecking order theory, market timing theory, and many empirical studies. However, financial leverage has a positive effect on ROE and no effect on EPS. These results are also consistent with the MM theorem, static trade off theory and many other empirical studies. Yet again, the two OLS models have put forward conflicting results while taking EPS as the dependent variable. The results corroborate the inefficient use of debt capital and suggest the need to improve the reliability of accounting information.

scholarly journals FURTHER EVIDENCE ON THE LINK BETWEEN FIRM'S CONTROL MECHANISMS AND FIRM FINANCIAL PERFORMANCE: SULTANATE OF OMAN

2020 ◽  
Vol 4 (1) ◽  
pp. 6-11
Author(s):  
Essia Ries Ahmed ◽  
Tariq Tawfeeq Yousif Alabdullah ◽  
Muhammad Shabir Shaharudin ◽  
Eskasari Putri
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Audit Committee ◽  
Board Independence ◽  
Control Mechanisms ◽  
Sultanate Of Oman ◽  
Listed Firms ◽  
Firm Financial Performance ◽  
Corporate Social

Based on the agency theory perspective and its corporate governance problem, the current study investigated how control mechanisms affect firm financial performance with a special concentrate on the role of the audit committee on the enhancement of firm financial performance. The empirical findings of this study based on the listed firms in the Sultanate of Oman revealed that the control mechanisms, including committee size and board independence, positively enhance financial performance represented by ROE and therefore this leads to encouraging firms to focus on such mechanisms. By contrast, audit size, board size and board independence are totally not motivated to engage with financial performance due to the insignificant link with ROA. On the other hand, a negative correlation has been found between a board meeting and financial performance represented by ROE. The practical evidence of the implications  by the current study found that for improvement of firm financial performance; that even though if most of the GCC governments recently have focused on corporate social responsibility because largely voluntary nature of corporate social responsibility, they should focus of the control mechanisms that suggested by the current study to play a significant role for enhancing firm financial performance

scholarly journals Corporate Governance and Financial Performance of Listed Healthcare Sector Companies in Nigeria

2020 ◽  
pp. 174-182
Author(s):  
Lyndon M. Etale ◽  
Seth W. Tueridei
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Sampling Technique ◽  
Governance Structure ◽  
Least Square ◽  
Healthcare Sector ◽  
Board Independence ◽  
Managerial Ownership ◽  
Firm Financial Performance ◽  
Ex Post

The Healthcare sector companies are veritable investment companies on the Nigerian Stock Exchange. The study aimed to investigate the effect of corporate governance and financial performance of listed healthcare sector companies in Nigeria. It employed the ex-post facto research design and equally used secondary data generated from the annual report and accounts of all eight (8) sampled listed healthcare sector companies in Nigeria from 2008 to 2019. The sample size was arrived at by using a purposive sampling technique. The study analysed the data using least square, descriptive and covariance techniques. It adopted Tobin-Q as a measure for firm financial performance, whereas corporate governance variables include board size, board independence and managerial ownership. From the empirical results, the study concludes that there are some level of significance between financial performance and two out of the three corporate governance variables (board independence and managerial ownership). However, the correlation result shows no relationship among the variables examined. The study, therefore, recommends that companies in the healthcare sector should as a matter of necessity embrace complete compliance to corporate governance structure in order to attract the tremendous benefits and improve corporate financial performance therein. This could be done simultaneously with the governance structure at the district, state or hospital level to achieve greater performance. More so, further studies could examine other corporate governance variables together with the already examined variables in this study. Other financial performance variable could also be employed to ascertain any relation or significance among them for the healthcare sector companies.

scholarly journals Intellectual Capital Utilization And Intellectual Capital Growth In Improving Current And Future Financial Performance In Asean In The Era Of Asean Economic Community

2020 ◽  
Vol 21 (01) ◽  
Author(s):  
Bima Cinintya Pratama ◽  
Hardiyanto Wibowo ◽  
Maulida Nurul Innayah ◽  
Fatmah Bagis
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Emerging Market ◽  
Manufacturing Companies ◽  
Firm Financial Performance ◽  
Rate Of Growth ◽  
Current Period ◽  
Future Performance ◽  
Asean Countries ◽  
Asean Economic Community

This paper examines the association between intellectual capital (IC), rate of growth of intellectual capital (ROGIC), and firm financial performance in an emerging market context, which is ASEAN. The effect of Intellectual Capital and the rate of growth of Intellectual capital is tested towards firm financial performance, namely current financial performance and future financial performance. Panel data regression model analysis is used for a sample of manufacturing companies in ASEAN countries, namely Indonesia, Malaysia, Philippines, Thailand, and Singapore during 2015-2018. The results showed that intellectual capital and ROGIC has a positive effect on firm financial performance, both current and future performance. This result indicates that intellectual capital can generate higher financial performance for the firms, both in the current period and until the future period. A similar result also found in the relationship between ROGIC which is the rate of growth of IC toward firm financial performance. This result implies that firms should utilize and maintain intellectual capital together with maintaining IC growth (ROGIC) to maintain and preserve its performance in the current and future term.

scholarly journals Sustainable supply chain management and financial performance: An empirical analysis of Turkish manufacturing companies

2021 ◽  
Vol 9 (3) ◽  
pp. 908-921
Author(s):  
Deniz Özbay
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Financial Performance ◽  
General View ◽  
Sustainable Supply Chain ◽  
Manufacturing Companies ◽  
Chain Management ◽  
Sustainable Supply Chain Management ◽  
Firm Financial Performance ◽  
The Relationship

The linkage between sustainable supply chain management (SSCM) and financial performance has attracted increasing interest from both researchers and practitioners. Although many have argued that the SSCM practices improve financial performance, empirical studies have produced mixed results, and the direction of the relationship is still unclear.  This study examined the relationship between SSCM and financial performance for Turkish manufacturing companies. Financial performance was measured using ROA, ROE and price to book ratio, while SSCM performance was measured with a new multivariable performance indicator. Financial performance data were obtained from the Bloomberg Database, while SSCM data were collected from non-financial reports using content analysis. The total sample included 47 manufacturing companies listed in Borsa İstanbul, covering 584 firm-year observations for 2007-2019. Panel data regression analysis was used to test the relationship between SSCM and financial performance. Similar to the literature's general view, the findings support a positive linear relationship between SSCM and firm financial performance.

scholarly journals A Relationship between Supply Chain Practices, Environmental Sustainability and Financial Performance: Evidence from Manufacturing Companies in Jordan

2021 ◽  
Vol 13 (4) ◽  
pp. 2152
Author(s):  
Luay Jum’a ◽  
Dominik Zimon ◽  
Muhammad Ikram
Keyword(s):  
Sustainable Development ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Financial Performance ◽  
Environmental Sustainability ◽  
Management Practices ◽  
Manufacturing Companies ◽  
Chain Management ◽  
Firm Financial Performance ◽  
The Impact

Pursuing sustainable development creates competitiveness for manufacturing firms in the market, however the financial pressure of adopting sustainable environmental practices is still a major concern. Few studies were found on the inter-relationships between supply chain management practices, environmental sustainability, and firm financial performance. Moreover, manufacturing companies are compelled by different pressure groups across the globe to maintain environmental standards while conducting their business and supply chain activities. Therefore, the current study aims to investigate the impact of supply chain practices on environmental sustainability and financial performance. In addition, the role of environmental sustainability as a mediator between supply chain management and financial performance was analyzed to improve sustainable development. A well-designed questionnaire was administered to manufacturing companies in Jordan for data collection. A total of 376 responses were analyzed and the proposed hypotheses were tested by using Structural Equation Modelling (SEM) approach. The results reveal that environmental sustainability was tested significantly and influenced by supply chain practices such as relationship with customers, postponement, level of information sharing, and information quality. Whereas environmental sustainability had a significant direct effect on financial performance. Finally, environmental sustainability mediated the relationship of all supply chain management practices with financial performance except strategic supplier partnership dimension. The study provides policy guidelines to decision makers while simultaneously assists the managers to improve sustainability practices in manufacturing companies.

Board Characteristics and Financial Performance of Government-Owned Sugar Manufacturing Companies in Kenya

2021 ◽  
Vol 5 (4) ◽  
pp. 41-56
Author(s):  
Yvonne Nyaundha Odhiambo ◽  
Keyword(s):  
Financial Performance ◽  
Board Members ◽  
Board Independence ◽  
Manufacturing Companies ◽  
Board Size ◽  
Board Diversity ◽  
Board Characteristics ◽  
The Board Of Directors ◽  
The Relationship ◽  
Firm Attributes

The board of directors is tasked with the obligation and the responsibility of administering changes and operations that support the mission of the organization to realize its vision. Kenya in the recent past, has witnessed a number of organizations listed in the NSE collapsing with the board of directors taking the blame. Specifically, the study sought to establish the association between; board diversity, board independence, board size and financial performance of government-owned sugar manufacturing companies in Kenya. The study sought to determine whether firm attributes have a moderating impact on the relationship between board characteristics and financial results of Kenyan government-owned sugar manufacturing companies. The study adopted the Agency Theory and Stewardship Theory. The study targeted the Government-Owned Sugar manufacturing companies in Kenya during the years 2000 to 2016 when the companies were operational. The study used secondary data where panel data was used. The findings indicated that board diversity and financial performance of government-owned sugar manufacturing companies. In addition, board independence and financial performance of government-owned sugar manufacturing companies was also significant. Board Size had a positive but insignificant relationship with financial performance of government-owned sugar manufacturing companies in Kenya. Firm attributes had no significant moderating effect on the relationship between board characteristics and financial performance of government-owned sugar manufacturing companies. The study recommended that the board members should consist of at least half gender diversity of the board members as determined by the board based on the requirements stipulated by the trade authority. Further, the study recommended that the board members must be independent directors, and their independence should be continuously maintained and reviewed at least annually. Keywords: Board Diversity, Board Independence, Board Size, Firm Attributes & Financial Performance

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