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Author: Farman Khan Publisher: ISBN: Category : Languages : en Pages : 23
Book Description
In Pakistan, the ownership of majority of the firms is characterized by the concentration of different groups including family members, associated firms, institutional investors and insiders. The present study aims to investigate whether different ownership structure including family ownership, associated ownership, institutional ownership, concentrated ownership, managerial ownership, block holding, and foreign ownership contribute to the financial performance of non- financial firms listed at the Pakistan Stock Exchange (PSX). Findings suggest that a firm's performance increases significantly in the presence of associated ownership, concentrated ownership, institutional ownership and block holding. This indicates that these ownership structures add value and help in reducing agency problems. On the other hand, family and managerial ownership have a negative relationship with firm performance. These findings are consistent with the hypothesis of minority shareholder expropriation which states that when family ownership and managers' involvement is higher in a firm, they exploit the funds of minor shareholders. Similarly, foreign ownership also does not add value.
Author: Farman Khan Publisher: ISBN: Category : Languages : en Pages : 23
Book Description
In Pakistan, the ownership of majority of the firms is characterized by the concentration of different groups including family members, associated firms, institutional investors and insiders. The present study aims to investigate whether different ownership structure including family ownership, associated ownership, institutional ownership, concentrated ownership, managerial ownership, block holding, and foreign ownership contribute to the financial performance of non- financial firms listed at the Pakistan Stock Exchange (PSX). Findings suggest that a firm's performance increases significantly in the presence of associated ownership, concentrated ownership, institutional ownership and block holding. This indicates that these ownership structures add value and help in reducing agency problems. On the other hand, family and managerial ownership have a negative relationship with firm performance. These findings are consistent with the hypothesis of minority shareholder expropriation which states that when family ownership and managers' involvement is higher in a firm, they exploit the funds of minor shareholders. Similarly, foreign ownership also does not add value.
Author: Alqatan, Ahmad Publisher: IGI Global ISBN: 1799848531 Category : Business & Economics Languages : en Pages : 425
Book Description
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: Hassan Raza Syed Publisher: ISBN: Category : Languages : en Pages :
Book Description
This study deals with ownership concentration and mix and shows their effects on financial and market performance of firm. The analysis is performed on the data from listed companies of Karachi Stock Exchange of Pakistan. By using OLS regression model and descriptive statistics, firstly it is found that ownership concentration has positive but insignificant effect on financial performance of firms, whereas it has negative and significant effect on the market performance of firms. Secondly, It is revealed that the fraction of state ownership, legal person ownership and the individual person ownership is irrelevant to the firm performance as all has the same effects.
Author: Christian Funke Publisher: GRIN Verlag ISBN: 3867469660 Category : Business & Economics Languages : en Pages : 105
Book Description
Diploma Thesis from the year 2004 in the subject Business economics - Business Management, Corporate Governance, grade: 1.1, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: Empirische Diplomarbeit die mit einer multivariaten Regression untersucht, ob sich die beobachtete Variabilität der Kapitalstrukturen von Unternehmen durch unterschiedliche Eigentümerstrukturen erklären lässt.
Author: Jan Khan Publisher: ISBN: Category : Languages : en Pages : 30
Book Description
This study primarily investigates the impact of ownership structure on capital structure and dividend policy in Pakistan. Data is drawn from 50 non-financial companies included in KSE 100 Index for the period 2006 to 2014. In this study leverage and dividend payout are used as dependent variables, while managerial ownership and institutional ownership are explanatory variables. Profitability, sales growth and size of firm are used as control variables. Results of this study reveal that institutional ownership has significant and negative impact on capital structure but significant and positive impact on dividend payout ratio. On the other hand results suggest that managerial ownership negatively affects dividend payout ratio. Moreover results reveal that both of these strategic decisions affect each other negatively.Most of the researchers in Pakistan analyzed the impact of ownership structure on these two strategic decisions separately. But in this study, an advanced empirical technique - two stage least square (2SLS) - is used to find out the impact of ownership structure on both of these strategic decisions (Capital structure and Dividend policy). This technique also helps to determine the two-way relationship between these two strategic decisions.
Author: Kamran Nawaz Publisher: ISBN: Category : Languages : en Pages : 18
Book Description
The attempt of the research is to realize the key factors and examine the effect of corporate governance and capital structure on firms' financial performance belonging to petroleum sector which are registered on Pakistan Stock Exchange (PSX). The study focuses on data gathered from five companies of petroleum sector keeping in view the present situation of Pakistan and current economic, political and legislative environment to evaluate and judge the challenges and risks affecting the firms' performance. Only a single source of data is used which is secondary. The sample employed in the current research is comprised of five firms listed in the PSX index under the petroleum sector. The sample size selected for the purpose of this research is consisting of nine years annual data of the variables starting from year 2007 to year 2015 used. Multiple Regression model is used as the statistical technique and SPSS statistics has been used for examination of hypotheses. The empirical results investigated that Short term debt ratio and Long term debt ratio has significantly negative correlation with ROA. The firms with lesser STD & LTD ratio lead to higher financial performance. Consequently, board size and no. of shareholders has insignificant relationship with ROA. Furthermore, the study investigated that ROE has insignificant either negative or positive relationship with all the independent variables namely Board size, No. of shareholders, Short-term debt ratio and Long-term debt ratio.
Author: Arunima Haldar Publisher: ISBN: Category : Languages : en Pages : 8
Book Description
Researchers have come up with varied assertions with regard to the relationship between ownership structure and firm performance. Positive as well as negative relationships at differing levels of equity holdings by managers have been suggested by researchers leading to inconclusive results. Findings suggests that promoter controlled firm's performance is better than manager controlled ones, but empirical assertion for the same has been lacking in developing countries. This research focuses on investigating empirically the efficacy of ownership groups in enhancing corporate performance in India, a developing nation. The study analyzes large cap firms (BSE 500) for the period 2000-2008 using fixed effect technique by taking into account both accounting as well as market based measures of performance. Findings suggest that promoter's are the major contributors in the firm performance whereas non promoter's hinders the firm performance.
Author: Jae K. Shim Publisher: Routledge ISBN: 1135962014 Category : Business & Economics Languages : en Pages : 326
Book Description
The International Handbook of Electronic Commerce covers that hot topic - e-commerce! It is designed to assist managers in implementing electronic commerce in their organizations, improving its efficiency and viability, and safeguarding and maintaining e-commerce systems. The book is designed as a practical how to guide, offering extensive examples to illustrate practical applications. The tools and techniques in this handbook can be adapted outright or modified to suit individual needs. Checklists, email and website addresses, exhibits, illustrations, and step-by-step instructions enhance the handbook's practical use. Among the topics discussed are: what electronic commerce is all about; the Internet and access provider industry; Intranets and Extranets; marketing and advertising; electronic data interchange; electronic banking and payment systems; network security; legal, taxation, and accounting issues of e-commerce. The combination of growth in the commercial utilization of the Internet, the rapid changes in technology, and the complexity of management have expanded the scope of duties of business managers. To remain competitive, businesses and their managers must maintain a presence on the Internet. The International Handbook of Electronic Commerce provides readers with a compendium of the latest in current technologies and applications.
Author: Zahid Bashir Publisher: LAP Lambert Academic Publishing ISBN: 9783659356575 Category : Languages : en Pages : 184
Book Description
Debt financing decision is the most important and crucial decision in the study of capital structure and financial structure because it leads to firm's performance. The current Study empirically investigated a number of factors affecting debt financing decision and firm's performance for the non-financial companies listed in Karachi Stock Exchange of Pakistan for the period of 2005-2010. The financial theories like Tradeoff theory (TOT) and Packing order theory (POT) has also been tested in order to see the consistency of factors affecting the debt financing behavior in the current study with above said theories. A Panel data of 341 firms has been used for empirical analysis of the current Study. The variation in debt financing is measured by short-term, long term and total debt while the variation in firm's performance is measured by profitability and Return on Assets. The current study empirically examined the effect of firm's specific factors by econometric practice "one way-fixed effect regression model." The Current study will help the reader for understanding how the different factors affects debt financing and firm performance in non-financial sector of Pakistan
Author: Farman Khan
Author: Farman Khan
Author: Alqatan, Ahmad
Author: Hassan Raza Syed
Author: Christian Funke
Author: Jan Khan
Author: Kamran Nawaz
Author: Arunima Haldar
Author: Jae K. Shim
Author: derek c. jones, panu kalmi and niels mygind
Author: Zahid Bashir