The Effect of Board Composition and Ownership Structure on Firm Performance PDF Download

Author: Andy Yong Jin Lee
Publisher:
ISBN:
Category : Boards of directors
Languages : en
Pages : 268

View

Book Description

Author: Naeem Tabassum
Publisher: Springer Nature
ISBN: 3030485277
Category : Business & Economics
Languages : en
Pages : 335

View

Book Description
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: Santanu K. Ganguli
Publisher:
ISBN:
Category :
Languages : en
Pages : 31

View

Book Description
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'

Author: Maria Aluchna
Publisher: Springer
ISBN: 3319552066
Category : Business & Economics
Languages : en
Pages : 304

View

Book Description
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.

Author: Scott W. Barnhart
Publisher:
ISBN:
Category :
Languages : en
Pages : 16

View

Book Description
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.

Author: Barbara Sveva Magnanelli
Publisher: Springer Nature
ISBN: 3030561208
Category : Business & Economics
Languages : en
Pages : 176

View

Book Description
This book explores diversity in boardrooms to highlight the link between the heterogeneous dimensions of board diversity and their impact on the firms. The book provides a brief definition of corporate governance and focuses on the role and functions of the board of directors. The work contributes to the literature enriching the empirical findings about board diversity. After a deep review of the literature within several theoretical frameworks, such as agency, stakeholder, stewardship, resource dependence, and the institutional theory, the focus moves on the impact on financial performance. The board diversity effects are tested through an empirical analysis conducted on a sample of European listed companies, performing both a single and a joint diversity index analysis. Practitioners and academics will find this book particularly timely and useful as it combines both a review of the literature and robust empirical investigation. It will be an excellent reading for academics and practitioners interested in firm performance, corporate governance and stakeholder theory.

Author: Committee on the Financial Aspects of Corporate Governance
Publisher:
ISBN:
Category : Benchmarking (Management)
Languages : en
Pages : 108

View

Book Description

Author: Eva M. Meyerson
Publisher: Coronet Books
ISBN:
Category : Business & Economics
Languages : en
Pages : 192

View

Book Description
Based on a survey of 29 public companies conducted in 1980-1988.

Author: Jeffrey Pfeffer
Publisher: Stanford University Press
ISBN: 080474789X
Category : Business & Economics
Languages : en
Pages : 336

View

Book Description
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: Kose John
Publisher: Emerald Group Publishing
ISBN: 1783501219
Category : Business & Economics
Languages : en
Pages : 269

View

Book Description
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.