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Board Composition Ownership Structure And Firm Performance
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Book Synopsis Board Composition, Ownership Structure and Firm Performance by : Santanu K. Ganguli
Download or read book Board Composition, Ownership Structure and Firm Performance written by Santanu K. Ganguli and published by . This book was released on 2016 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explores the impact of board composition and ownership structure on firm performance of Indian firms from 2009-2013 in presence of certain unique statutory provisions relating to independent directors and limits on ownership concentration. The results show that after controlling for various firm and industry level parameters, both accounting performance and market performance of firms are positively impacted by ownership concentration and board size but not by board independence. We record a two-way relationship and 'non-linearity' between market performance and ownership concentration . Very low and very high concentration negatively impact firm performance, the former being attributable to 'tunneling' , and the latter to 'illiquidity' and 'information asymmetry' associated with sale of holding by insiders to bring down concentration to permissible statutory limits. Larger board size impacting performance positively indicates that plurality of views and representation of various insiders' interest group might enhance performance but Independence has no such role because it may just be a 'myth'
Book Synopsis The Effect of Board Composition and Ownership Structure on Firm Performance by : Andy Yong Jin Lee
Download or read book The Effect of Board Composition and Ownership Structure on Firm Performance written by Andy Yong Jin Lee and published by . This book was released on 2004 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance and Organisational Performance by : Naeem Tabassum
Download or read book Corporate Governance and Organisational Performance written by Naeem Tabassum and published by Springer Nature. This book was released on 2020-06-28 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.
Book Synopsis Responsible Corporate Governance by : Maria Aluchna
Download or read book Responsible Corporate Governance written by Maria Aluchna and published by Springer. This book was released on 2017-05-10 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the tasks and functions of corporate governance in the light of current challenges and the dynamics that arise from a broader approach to company management and the integration of corporate governance with corporate social responsibility (CSR) and sustainability. Addressing the corporate governance shortcomings that are believed to have contributed to the recent financial crisis, it explores the interplay between corporate governance and CSR, and includes examples of company practice to show how such changes affect the practices of shareholders, boards of directors and regulators. In particular, the book examines shareholders’ activities, their different investment strategies, specific reporting expectations and the submission of proposals to the annual meeting. Further, for boards of directors it explores the need to revise their tasks with respect to the criteria for executive appointments, their corporate strategy, performance measures and diversity recommendations, while for directors it provides recommendations to reconsider the structure of executive pay and performance incentives. Lastly, for regulators the book investigates the need to introduce new laws addressing, for instance, the need for integrated reporting, limiting the voice of short term oriented shareholders and providing guidelines for executive compensation.
Book Synopsis Board Composition, Managerial Ownership, and Firm Performance by : Scott W. Barnhart
Download or read book Board Composition, Managerial Ownership, and Firm Performance written by Scott W. Barnhart and published by . This book was released on 2009 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simultaneous-equations techniques are being used more often in corporate governance research. However, when no formal theoretical model is present, misspecification in one or more of the first or second stage regression is likely, causing empirical results to be seriously biased. This paper investigates the combined effect of ownership structure and board composition on corporate performance, using an instrumental-variables approach that allows for sensitivity analysis. The results indicate that managerial ownership, board composition, and Tobin's Q are jointly determined. More importantly, final results are very sensitive to reasonable changes in both the overall model specification and to the set of instruments.The results strongly suggest that in corporate governance research, sensitivity analysis is essential, results should be interpreted cautiously, and ordinary least squares results should not be casually dismissed.
Book Synopsis Research in International Business and Finance by : Larry R. Lang
Download or read book Research in International Business and Finance written by Larry R. Lang and published by JAI Press Incorporated. This book was released on 1996-01-08 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses a variety of topics in the field of research in international business and finance.
Book Synopsis Ownership Structure, Board Composition and Firm Performance of Listed Companies in Malaysia by : Choon Seng Lim
Download or read book Ownership Structure, Board Composition and Firm Performance of Listed Companies in Malaysia written by Choon Seng Lim and published by . This book was released on 2008 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Ownership Structure and Executive Team Composition on Firm Performance by : Eva M. Meyerson
Download or read book The Impact of Ownership Structure and Executive Team Composition on Firm Performance written by Eva M. Meyerson and published by Coronet Books. This book was released on 1992 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a survey of 29 public companies conducted in 1980-1988.
Book Synopsis Ownership Structure, Board, and Manager Discretion on Performance by : Vincent Ongore
Download or read book Ownership Structure, Board, and Manager Discretion on Performance written by Vincent Ongore and published by LAP Lambert Academic Publishing. This book was released on 2011-02 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigated the combined effects of ownership structure, board effectiveness and managerial discretion on firm performance using agency theory as an analytical framework. Measures of performance used in the study were Return on Assets, Return on Equity and Dividend Yield. Using Pearson s Product Moment Correlation and Logistic Regression, Step-wise regression and ANOVA to analyze data obtained from companies listed at the Nairobi Stock Exchange, the study found out that Ownership Concentration and Government Ownership have significant negative relationships with firm performance. On the other hand, Foreign Ownership, Diffuse Ownership, Corporation Ownership, and Manager Ownership were found to have significant positive relationships with firm performance. The results of this study have indicted the Board of Directors for not playing any meaningful role in corporate governance in Kenya. On the other hand, the results support the need for managers to bear more responsibility of their mismanagement and also share in the residual income of the firms they manage.
Book Synopsis Governance Structure and Firm Performance in Private Family Firms by : Limei Che
Download or read book Governance Structure and Firm Performance in Private Family Firms written by Limei Che and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Post-Privatization Corporate Governance and Firm Performance by : Mohammed Omran
Download or read book Post-Privatization Corporate Governance and Firm Performance written by Mohammed Omran and published by . This book was released on 2009 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine and analyze the post-privatization corporate governance of a sample of 52 newly privatized firms from Egypt over the 1995-2005 period. We look at the ownership structure that results from privatization and its evolution; the determinants of private ownership concentration; and the impact of private ownership concentration, identity and board composition on firm performance. We find that the state gives up control over time to the private sector, but still controls, on average, more than 35 percent of these firms. We also document a trend in private ownership concentration over time, mostly for the benefit of foreign investors. Firm size, sales growth, industry affiliation, and timing and method of privatization seem to play a key role in determining private ownership concentration. Ownership concentration and ownership identity, in particular foreign investors, prove to have a positive impact on firm performance, while employees ownership concentration has a negative ones. The higher proportion of outside directors and the change in the board composition following privatization affect firm performance positively. These results could have some important policy implications; in which private ownership by foreign investors seem to add more value to firms; while selling state-owned enterprises (SOEs) to employees is not recommended. Also, the state is highly advised to relinquishes control and allow for changes in the board of director following privatization as changing ownership, per se, might not have an impact on firm performance unless it is coupled with new management style.
Book Synopsis The Relationship Between Board Composition, Leadership Structure and Firm Performance by : Ghulam Abid
Download or read book The Relationship Between Board Composition, Leadership Structure and Firm Performance written by Ghulam Abid and published by . This book was released on 2016 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Board of directors has been recognized as an important element of the governance mechanism in a firm; particularly after the high profile catastrophes like Enron, Andersen, AOL, Parmalat, WorldCom and many more around the globe; that led to huge economic losses; and ultimately resulting in devastation of financial sectors around the globe. These losses have raised serious concerns regarding governance issues in the corporate sector; particularly questioning the capability of the boards in terms of securing stockholders' wealth. As a result, majority of the corporate governance reforms (codes, practices, regulations, recommendations, etc.) have directly linked corporate governance practices to increased functioning of the board members. This study aims at advancing the global corporate research agenda by collecting fresh evidence from Pakistan. We shall be studying listed companies working under the corporate governance regime in Pakistan; and will be looking at the association between board compositions and firms' performance. The aim of this study is to look at the impact of board composition on two performance measures (return on assets and return on equity) of the firm. Using linear regression on actual sample of 100 listed companies on the Lahore Stock Exchange, Pakistan, we have found that board composition (i.e. independent directors and chairman elected from non-executive director) and leadership structure (CEO duality) significantly related to the firm performance. Furthermore, we found that two accounting measures demonstrate different results.
Book Synopsis Board Composition, Board Activity and Ownership Concentration, the Impact on Firm Performance by : Shiguang Ma
Download or read book Board Composition, Board Activity and Ownership Concentration, the Impact on Firm Performance written by Shiguang Ma and published by . This book was released on 2014 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a parallel investigation on the impact of board composition, board activity and ownership concentration on the performance of listed Chinese firms. We find that independent directors enhance firm performance effectively than other board factors. The frequency of shareholder meetings, rather than board meetings, is positively associated with firm value. Tradable share ownership concentration has a positive and linear relationship with firm value, while state and total share ownership concentration represent U(V) shapes. Importantly, companies with the highest levels of both total share and tradable share ownership concentration have a greater firm values than companies with the highest levels of only a single concentration.
Book Synopsis The Role of CEO, Board Composition and Firm Performance by : Dr. Md. Abdur Rouf
Download or read book The Role of CEO, Board Composition and Firm Performance written by Dr. Md. Abdur Rouf and published by . This book was released on 2015 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the role of CEO, board independent director as well as separate elements of corporate governance on firm performance for the listed non-financial companies in Dhaka Stock Exchange (DSE) 2008.Specific objective of this research is to examine the relationship between separation of CEO and the proportion of independent directors on firm performance as measured by return on assets (ROA) and return on equity (ROE). This paper is based on a sample of 93 listed companies and Used OLS as a method of estimation. The results suggest a positive association between ROA and separation of chief executive officer and between board independent director and ROA. The results further reveal a positive association between ROE and chief executive officer as well as board independent director. However, ownership structure is negative association with the firm performance measures (ROA and ROE) but not significant.
Book Synopsis Executive Compensation and Shareholder Value by : Jennifer Carpenter
Download or read book Executive Compensation and Shareholder Value written by Jennifer Carpenter and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has gained widespread public attention in recent years, with the pay of top U.S. executives reaching unprecedented levels compared either with past levels, with the remuneration of top executives in other countries, or with the wages and salaries of typical employees. The extraordinary levels of executive compensation have been achieved at a time when U.S. public companies have realized substantial gains in stock market value. Many have cited this as evidence that U.S. executive compensation works well, rewarding managers who make difficult decisions that lead to higher shareholder values, while others have argued that the overly generous salaries and benefits bear little relation to company performance. Recent conceptual and empirical research permits for the first time a truly rigorous debate on these and related issues, which is the subject of this volume.
Book Synopsis An Analysis of the Association between Firms' Investment Opportunities, Board Composition, and Firm Performance by : Marion R. Hutchinson
Download or read book An Analysis of the Association between Firms' Investment Opportunities, Board Composition, and Firm Performance written by Marion R. Hutchinson and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to agency theory the corporate board is an important internal governance mechanism. Critics of corporate governance suggest that board monitoring will be more effective if boards consist primarily of independent outside directors and from increased shareholdings of directors (Kren and Kerr, 1997). However, the results of previous studies testing board effectiveness have been mixed. The purpose of this paper is to identify the variables that influence the board structure adopted by firms and the subsequent relationship to the firm's performance. The results of this study of 229 Australian firms show that firms' investment opportunities are strongly associated with a higher proportion of executive directors on the board. When testing the efficiency of the board the results show that the negative relationship between a firm's investment opportunity set and firm performance is weakened at higher levels of non-executive director board domination. The results of this study have implications for policy setters and managers of firms with investment opportunities.
Book Synopsis Report of the Committee on the Financial Aspects of Corporate Governance by : Committee on the Financial Aspects of Corporate Governance
Download or read book Report of the Committee on the Financial Aspects of Corporate Governance written by Committee on the Financial Aspects of Corporate Governance and published by . This book was released on 1992 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
