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Author : Joel Thomas Harper
Publisher :
ISBN 13 :
Total Pages : 222 pages
Book Rating : 4.:/5 (363 download)
Download or read book Ownership Structure and Its Effects on Operating Performance and Firm Value written by Joel Thomas Harper and published by . This book was released on 1996 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hoang N. Pham
Publisher : Routledge
ISBN 13 : 1000540332
Total Pages : 132 pages
Book Rating : 4.0/5 (5 download)
Download or read book Corporate Governance, Ownership Structure and Firm Performance written by Hoang N. Pham and published by Routledge. This book was released on 2022-01-24 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between ownership structure and firm performance has been studied extensively in corporate finance and corporate governance literature. Nevertheless, the mediation (path) analysis to examine the issue can be adopted as a new approach to explain why and how ownership structure is related to firm performance and vice versa. This approach calls for full recognition of the roles of agency costs and corporate risk-taking as essential mediating variables in the bi-directional and mediated relationship between ownership structure and firm performance. Based on the agency theory, corporate risk management theory and accounting for the dynamic endogeneity in the ownership–performance relationship, this book develops two-mediator mediation models, including recursive and non-recursive mediation models, to investigate the ownership structure–firm performance relationship. It is demonstrated that agency costs and corporate risk-taking are the ‘missing links’ in the ownership structure–firm performance relationship. Hence, this book brings into attention the mediation and dynamic approach to this issue and enhances the knowledge of the mechanisms for improving firm’s financial performance. This book will be of interest to corporate finance, management and economics researchers and policy makers. Post-graduate research students in corporate governance and corporate finance will also find this book beneficial to the application of econometrics into multi-dimensional and complex issues of the firm, including ownership structure, agency problems, corporate risk management and financial performance.
Author : Alqatan, Ahmad
Publisher : IGI Global
ISBN 13 : 1799848531
Total Pages : 425 pages
Book Rating : 4.7/5 (998 download)
Download or read book Corporate Governance and Its Implications on Accounting and Finance written by Alqatan, Ahmad and published by IGI Global. This book was released on 2020-09-25 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the global financial crisis, the topic of corporate governance has been gaining momentum in accounting and finance literature since it may influence firm and bank management in many countries. Corporate Governance and Its Implications on Accounting and Finance provides emerging research exploring the implications of a good corporate governance system after global financial crises. Corporate governance mechanisms may include board and audit committee characteristics, ownership structure, and internal and external auditing. This book is devoted to all topics dealing with corporate governance including corporate governance characteristics, board diversity, CSR, big data governance, bitcoin governance, IT governance, and governance disclosure, and is ideally designed for executives, BODs, financial analysts, government officials, researchers, policymakers, academicians, and students.
Author : Roberto Barontini
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Effect of Family Control on Firm Value and Performance. Evidence from Continental Europe written by Roberto Barontini and published by . This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the relation between ownership structure and firm performance in Continental Europe, using data from 675 publicly traded corporations in 11 countries. Our results confirm that families are the type of controlling shareholders that most recur to the control-enhancing devices which are associated with lower valuation and performance. However, even after taking into account that family-controlled corporations exhibit larger separation between control and cash-flow rights, our results do not support the hypothesis that family control hampers firm performance. Valuation and operating performance are significantly higher in founder-controlled corporations, and are at least not worse than average in descendants-controlled corporations. Thus, our results lead to the conclusion that family control is positive for firm value and operating performance in Continental European firms. This is true not only when the founder is still alive, but also when the controlling stake is held by descendants that sit on the board as non-executive directors. When a descendant takes the position of CEO, family-controlled companies are not statistically distinguishable from non-family ones in terms of valuation and performance.
Author : Dr. Shahira F. Abdel Shahid
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (129 download)
Download or read book Does Ownership Structure Affect Firm Value? Evidence from the Egyptian Stock Market written by Dr. Shahira F. Abdel Shahid and published by . This book was released on 2003 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance addresses the checks and balances placed in the system to prevent abuse of power. Such power may reside in a Chief Executive Officer, if ownership of a company is widely dispersed (as in the case of US or UK) or it may rest in the hands of an individual or a group(s) with controlling shareholding as more happens in markets dominated by family ownership. Thus, who owns the firm's equity and how does ownership affect firm value has been a topic investigated by researchers for decades. Thus, the impact of ownership structure on firm performance has been widely tackled in various developed markets and more recently in emerging markets, but was not addressed before, in Egypt. The paper aims to explore if there are dominant certain types of owners of actively listed and traded companies on Cairo amp; Alexandria Stock Exchanges. Further, it investigates whether the ownership type affects some key accounting and market performance indicators of listed firms. The 90 most actively listed companies on CASE, that constitute the bulk of trading, were chosen to constitute the sample of the study as of end of 2000. The findings indicate the presence of highly concentrated ownership structure in the Egyptian market. The results of the regression analyses indicate that the dispersed ownership percentage influences certain dimensions of accounting performance indicators (i.e. ROA and ROE) but not stock market performance indicators (i.e. P/E and P/BV ratios), which indicate that there might be other factors (economic, political, contextual) affecting firms performance other than ownership structure, which supports the findings of Heracleous (2001) that researches must develop methodologies that can account for multiple, systemic and multi-directional influences on firm performance and avoid models that attempt to correlate only one element such as ownership structure with firm performance.
Author : Vedat Mizrahi
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783845431871
Total Pages : 132 pages
Book Rating : 4.4/5 (318 download)
Download or read book Ownership Structure, Corporate Governance, and Firm Performance written by Vedat Mizrahi and published by LAP Lambert Academic Publishing. This book was released on 2011-08 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do corporate governance practices affect firm performance? Are shareholders willing to pay a premium for higher governance standards? How does the ownership structure of a firm affect its corporate governance practices and firm performance? This book investigates whether differences in the quality of firm-level corporate governance affects firm performance. Constructing a broad corporate governance index for listed Turkish companies, it is documented that there is a positive relationship between governance scores and Tobin's Q as a measure for firm performance. Firms with better corporate governance scores in the model used in this book have higher firm values, which implies that firms can increase shareholder value by restructuring their corporate governance standards. The analysis also sheds light on the impact of ownership structure on stock performance. Listed companies withhigher corporate governance scores and higher foreign ownership ratios experienced a smaller reduction in their share prices during the equity market crash in Turkey parallel to the global equity markets between 2008 and 2009.
Author : Jayesh Kumar
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (129 download)
Download or read book Does Ownership Structure Influence Firm Value? Evidence from India written by Jayesh Kumar and published by . This book was released on 2012 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance deals with the issue of how the suppliers of finance to various corporations assure themselves of getting a return on their investment. Several Studies have examined the relationship between ownership structure and firm performance. Using different data samples from different countries, most of the studies provide evidence that ownership in uence firm performance. This study examines empirically the effects of ownership structure on the firm performance for a panel of Indian corporate firms, from an 'agency perspective'. We examine the effect of interactions between corporate, foreign, institutional, and managerial ownership on firm performance. Using panel data framework, we show that a large fraction of cross-sectional variation, in firm performance, found in several studies, can be explained by unobserved firm heterogeneity. We also provide some evidence that the shareholding by institutional investors and managers affect firm performance, after controlling for observed firm characteristics and unobserved firm heterogeneity and the effect is non-linear.
Author : Cheng-Few Lee
Publisher : Springer Science & Business Media
ISBN 13 : 0387262849
Total Pages : 861 pages
Book Rating : 4.3/5 (872 download)
Download or read book Encyclopedia of Finance written by Cheng-Few Lee and published by Springer Science & Business Media. This book was released on 2006-07-27 with total page 861 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a major new reference work covering all aspects of finance. Coverage includes finance (financial management, security analysis, portfolio management, financial markets and instruments, insurance, real estate, options and futures, international finance) and statistical applications in finance (applications in portfolio analysis, option pricing models and financial research). The project is designed to attract both an academic and professional market. It also has an international approach to ensure its maximum appeal. The Editors' wish is that the readers will find the encyclopedia to be an invaluable resource.
Author : Soodong Kim
Publisher :
ISBN 13 :
Total Pages : 194 pages
Book Rating : 4.:/5 (318 download)
Download or read book Ownership Structure and Firm Value written by Soodong Kim and published by . This book was released on 2005 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eva M. Meyerson
Publisher : Coronet Books
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.3/5 (91 download)
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.
Author : Naeem Tabassum
Publisher : Springer Nature
ISBN 13 : 3030485277
Total Pages : 335 pages
Book Rating : 4.0/5 (34 download)
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.
Author : Jeffrey Pfeffer
Publisher : Stanford University Press
ISBN 13 : 080474789X
Total Pages : 336 pages
Book Rating : 4.8/5 (47 download)
Download or read book The External Control of Organizations written by Jeffrey Pfeffer and published by Stanford University Press. This book was released on 2003 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work explores how external constraints affect organizations and provides insights for designing and managing organizations to mitigate these constraints. All organizations are dependent on the environment for their survival. It contends that it is the fact of the organization's dependence on the environment that makes the external constraint and control of organizational behaviour both possible and almost inevitable. Organizations can either try to change their environments through political means or form interorganizational relationships to control or absorb uncertainty.
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264116052
Total Pages : 78 pages
Book Rating : 4.2/5 (641 download)
Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.
Author : Esra Memili
Publisher : MDPI
ISBN 13 : 3038427810
Total Pages : 174 pages
Book Rating : 4.0/5 (384 download)
Download or read book Performance and Behavior of Family Firms written by Esra Memili and published by MDPI. This book was released on 2018-03-23 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a printed edition of the Special Issue "Performance and Behavior of Family Firms" that was published in IJFS
Author : Kose John
Publisher : Emerald Group Publishing
ISBN 13 : 1783501219
Total Pages : 269 pages
Book Rating : 4.7/5 (835 download)
Download or read book Advances in Financial Economics written by Kose John and published by Emerald Group Publishing. This book was released on 2013-12-18 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Financial Economics Vol. 16 contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives.
Author : Krishna Dayal Pandey
Publisher : Taylor & Francis
ISBN 13 : 100092498X
Total Pages : 150 pages
Book Rating : 4.0/5 (9 download)
Download or read book Capital Structure, Equity Ownership and Corporate Performance written by Krishna Dayal Pandey and published by Taylor & Francis. This book was released on 2023-08-16 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides empirical insights into the relationship between capital and equity-ownership structure of Indian manufacturing companies and their financial performance. It discusses and analyses the basic theories and concepts associated with capital structure, debt financing, levered and unlevered firms, the various forms of ownership, agency problem and its kind and the exploitation of minority owners by the large and largest owners. The study employs a set of the most reliable and suitable econometric estimation techniques to draw meaningful inferences on the Indian manufacturing sector. The novelty of this book lies in three particular aspects: the depth and dimension with which the topic is addressed; the robust empirical evidence that it has produced and the simple and intelligible approach with which it is authored. It communicates the crucial relevance of corporate capital structure and equity-ownership to the moderation of agency relationship and shaping the internal governance mechanism, which ultimately results in increased or decreased operational efficiency and financial performance. It will enable readers to understand whether an increased amount of debt capital would bring about positive results for firms or create an extra burden on the management of their finances, preventing them from taking productive investment decisions due to the threat of liquidation. The book will find an audience among advanced students, scholars and researchers who are interested in understanding the corporate finance practices and governance mechanism of Indian organizations.
Author : Ettore Croci
Publisher : Springer
ISBN 13 : 3319966162
Total Pages : 167 pages
Book Rating : 4.3/5 (199 download)
Download or read book The Board of Directors written by Ettore Croci and published by Springer. This book was released on 2018-12-04 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Boards of directors are a central feature of any corporate governance regime. The role of directors and how they affect firm value and policies is examined in depth in academic literature. However, it is easy to get both lost and overwhelmed when searching through the literature review that investigates several characteristics, often one at the time. This book provides a careful and concise look at corporate finance literature, specifically with regard to the board of directors, summarizing the main findings and reconciling them. This book documents the pros and cons associated with the various attributes of the board and the directors as found in the current literature and provides sections geared specifically to practitioners in this space, as well, allowing for a better and more comprehensive description of this important corporate governance mechanism. The resulting book aims to facilitate the interpretation of changes in corporate governance through the lens of the recent academic literature.
