Accounting
Raihan Sobhan
Abstract
The main objective of this study is to find out the effects of board characteristics on firm performance in the listed companies of non-banking financial institutions industry of Bangladesh. This study has considered five board characteristics namely board size, the proportion of independent directors, ...
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The main objective of this study is to find out the effects of board characteristics on firm performance in the listed companies of non-banking financial institutions industry of Bangladesh. This study has considered five board characteristics namely board size, the proportion of independent directors, the proportion of female directors, the number of board meetings and percentage of directors’ ownership. ROA has been taken as the performance indicator. The regression results show that board size and female directors are positively and significantly related to firm performance. On the other hand the proportion of independent directors, the number of board meetings and the percentage of directors’ ownership do not have any significant impact on firm performance. The findings of this study will help the regulators and policymakers to understand the existing weakness of corporate governance structure in the financial institution industry and will aid in their quest for harmonizing the practice of corporate governance of Bangladesh with that of developed countries.
James Ilaboya; Tina Ashafoke
Volume 4, Issue 10 , October 2017, , Pages 1002-1019
Abstract
The study examines the relationship between board diversity and firm performance in Nigeria. The study adopted the cross-sectional research design using data from all the banks quoted on the Nigerian Stock Exchange from 2010-2015. The multiple regression technique is the basis of the data analysis, specifically ...
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The study examines the relationship between board diversity and firm performance in Nigeria. The study adopted the cross-sectional research design using data from all the banks quoted on the Nigerian Stock Exchange from 2010-2015. The multiple regression technique is the basis of the data analysis, specifically the ordinary least square regression (OLS) technique to estimate the coefficients of the variables in the model specified. The study found a negative and insignificant relationship between ethnic diversity and frim performance; in the same vein, a negative and insignificant relationship was observed between nationality diversity and firm performance; Gender diversity exhibit a negative and significant relationship with firm performance. We recommend that since gender diversity is significant but negative, management and regulatory bodies should make policy statements towards the inclusion of more women to attain the optimum number that will enhance the performance of the firm going by the time-tested theory of critical mass.
Athula Ekanayake; Ravindra Hewa Kuruppuge
Volume 4, Issue 10 , October 2017, , Pages 1020-1039
Abstract
Following the notions of agency and stewardship theories, this study examined the empirical validity of the relationship between governance of family owned businesses and firm performance, employing a sample of 82 family businesses in 5 main commercial districts in Sri Lanka. Governance variables related ...
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Following the notions of agency and stewardship theories, this study examined the empirical validity of the relationship between governance of family owned businesses and firm performance, employing a sample of 82 family businesses in 5 main commercial districts in Sri Lanka. Governance variables related to family ownership, involvement in management and experience were examined in order to assess their influence on firm performance, measured in both financial and non-financial terms. Whilst sales growth was used to measure financial performance, 5-point Likert scale, ranging from much lower to much higher, has been used to assess respondents’ views on non-financial performance of their firms, controlling the cultural factors. The results were in favour of family ownership and family involvement in management both of which influence significantly on financial and non-financial performance of the family owned businesses. But, the study did not support to prove the relationship between experience of owner managers and firm performance.
Abdul Basit; Zubair Hassan
Volume 4, Issue 2 , February 2017, , Pages 118-135
Abstract
The purpose of this study is to investigate Debt to Equity ratio to determine firm performance of Pakistani companies listed in Chemical, Food and Care products, Cement, Pharmaceutical, Auto assembler and Textile sector. The research done on 50 companies listed under Karachi Stock exchange covered the ...
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The purpose of this study is to investigate Debt to Equity ratio to determine firm performance of Pakistani companies listed in Chemical, Food and Care products, Cement, Pharmaceutical, Auto assembler and Textile sector. The research done on 50 companies listed under Karachi Stock exchange covered the period of 2010-2014, total observations of 250 firms-years. The independent variable is Debt to Equity and dependent variables are Size, Earnings per Share, Return on Assets, Return on Equity and Marketing. The research employed Descriptive Statistics, Pearson correlation coefficient and multiple linear regressions and the findings shows Earnings per share, Return on Equity and Return on Assets are significantly correlated to Debt to Equity ratio. While Debt to equity ratio founds a significant impact on Size and Return on Assets. Furthermore, it is recommended that other firm specific factors can also be used with a more wider time span like Dividends, Taxes etc to gauge the impact and end with a more accurate outcome. This Study will eventually benefit the finance mangers to define an optimal capital structure and also the research community by providing new knowledge regarding the impacts of capital structure. Though, other major economies can also be examined with different other industries to check the deviation of capital structure formation.
Nafiseh Gholamreza Tehrani
Volume 3, Issue 7 , July 2016, , Pages 444-452
Abstract
In general, corporate governance (CG) includes legal, cultural, and institutional arrangements that will determine companies’ future direction and performance. The current research mainly tries to evaluate the impact of corporate governance system quality on the performance of the companies listed ...
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In general, corporate governance (CG) includes legal, cultural, and institutional arrangements that will determine companies’ future direction and performance. The current research mainly tries to evaluate the impact of corporate governance system quality on the performance of the companies listed in Tehran Stock Exchange. In the current research, the quality of corporate governance system is considered as the independent variable to be able to examine its impact on the dependent variables including return on assets (ROA), return on equity (ROE), economic value added (EVA), and market value added (MVA). The research statistical population is composed of all of the companies listed in Tehran Stock Exchange within 2008 to 2014, and the sample size based on screening method and after the removal of outlier observations was obtained to be 112 firms. In the research, integrated data and also panel data with fixed and random effects were used. The results from the companies’ data analysis using multivariate regression at the confidence level of 95% shows that the quality of corporate governance system has a direct and positive impact on the dependent variables including ROA, ROE, EVA, and MVA.
Morteza Kazempour; Mohammad Ali Aghaei
Volume 2, Issue 2 , February 2015, , Pages 149-152
Abstract
This study investigated the relationship between capital structure and firm performance in firms operating on the Tehran Stock Exchange (TSE). Capital structure was measured by debt leverage. Firm performance was measured using the Tobin’s Q. The sample size was 100 companies operating on the exchange ...
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This study investigated the relationship between capital structure and firm performance in firms operating on the Tehran Stock Exchange (TSE). Capital structure was measured by debt leverage. Firm performance was measured using the Tobin’s Q. The sample size was 100 companies operating on the exchange during 2008-2013. The results showed a significant positive relationship between capital structure and firm performance.
