Ownership Structure Corporate Governance And Corporate Performance PDF Download
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Author | : Hoang N. Pham |
Publisher | : Routledge |
Total Pages | : 190 |
Release | : 2022-01-25 |
Genre | : Business & Economics |
ISBN | : 1000540278 |
Download Corporate Governance, Ownership Structure and Firm Performance Book in PDF, ePub and Kindle
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 | : Hoang N. Pham |
Publisher | : Routledge |
Total Pages | : 132 |
Release | : 2022-01-24 |
Genre | : Business & Economics |
ISBN | : 1000540332 |
Download Corporate Governance, Ownership Structure and Firm Performance Book in PDF, ePub and Kindle
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 | : Yan Wang |
Publisher | : |
Total Pages | : |
Release | : 1999 |
Genre | : |
ISBN | : |
Download Ownership Structure, Corporate Governance, and Corporate Performance: The Case of Chinese Stock Companies Book in PDF, ePub and Kindle
June 1997 Does the ownership structure of publicly listed firms in China affect their performance? Yes. Institutional shareholders seem to have a positive impact on corporate governance and performance; state ownership seems to lead to inefficiency; and an overly dispersed ownership structure can create problems in the Chinese setting. Xu and Wang investigate whether ownership structure significantly affects the performance of publicly listed firms in China and if so, in what way. With public listed stocks, one can quantify the ownership mix and concentration, which makes it possible to study this issue. The authors use the recent literature on the role of large institutional shareholders in corporate governance as a theoretical base. A typical listed stock company in China has a mixed ownership structure, with three predominant groups of shareholders- state, legal persons (institutions), and individuals- holding about 30 percent of the stock. (Employees and foreign investors together hold less than 10 percent.) Ownership is heavily concentrated: the five largest shareholders accounted for 58 percent of outstanding shares in 1995, compared with 57.8 percent in the Czech Republic, 42 percent in Germany, and 33 percent in Japan. Their empirical analysis shows that the mix and concentration of stock ownership do indeed significantly affect a company's performance: * There is a positive, significant correlation between concentration of ownership and profitability. * The effect of concentrated ownership is greater with companies dominated by institutions than with those dominated by the state. * The firms' profitability is positively correlated with the fraction of legal person (institutional) shares; it is either negatively correlated or uncorrelated with the fraction of state shares and with tradable A-shares held mostly by individuals. * Labor productivity tends to decline as the proportion of state shares increases. This paper- product of the Office of the Director, Economic Development Institute- part of a larger effort in the Bank to understand and disseminate various models of corporate governance. The study was funded by the Bank's Research Support Budget under the research project Ownership Structure, Corporate Governance, and Firm's Performance (RPO 681-08).
Author | : Vedat Mizrahi |
Publisher | : LAP Lambert Academic Publishing |
Total Pages | : 132 |
Release | : 2011-08 |
Genre | : |
ISBN | : 9783845431871 |
Download Ownership Structure, Corporate Governance, and Firm Performance Book in PDF, ePub and Kindle
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 | : Xiaonian Xu |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : 1997 |
Genre | : Corporate governance |
ISBN | : |
Download Ownership Structure, Corporate Governance, and Corporate Performance Book in PDF, ePub and Kindle
Author | : Apu Manna |
Publisher | : Emerald Group Publishing |
Total Pages | : 147 |
Release | : 2019-08-21 |
Genre | : Business & Economics |
ISBN | : 1789738490 |
Download Governance-Led Corporate Performance Book in PDF, ePub and Kindle
Governance-Led Corporate Performance explores the corporate governance system for developing economies, and provides a comprehensive analysis of the relationship between ownership structure, board composition, director multiplicity and CEO duality in relation to corporate performance.
Author | : Naeem Tabassum |
Publisher | : Springer Nature |
Total Pages | : 335 |
Release | : 2020-06-28 |
Genre | : Business & Economics |
ISBN | : 3030485277 |
Download Corporate Governance and Organisational Performance Book in PDF, ePub and Kindle
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 | : Sabri Boubaker |
Publisher | : Springer Science & Business Media |
Total Pages | : 625 |
Release | : 2014-04-01 |
Genre | : Business & Economics |
ISBN | : 3642449557 |
Download Corporate Governance in Emerging Markets Book in PDF, ePub and Kindle
This book fills the gap between theories and practices of corporate governance in emerging markets by providing the reader with an in-depth understanding of governance mechanisms, practices and cases in these markets. It is an invaluable resource not only for academic researchers and graduate students in law, economics, management and finance but also for people practicing governance such as lawmakers, policymakers and international organizations promoting best governance practices in emerging countries. Investors can benefit from this book to better understand of these markets and to make judicious investment decisions.
Author | : Rejie George Pallathitta |
Publisher | : |
Total Pages | : 235 |
Release | : 2005 |
Genre | : Corporate governance |
ISBN | : 9789056681456 |
Download Corporate Governance and Firm Performance Book in PDF, ePub and Kindle
Author | : Esra Memili |
Publisher | : MDPI |
Total Pages | : 174 |
Release | : 2018-03-23 |
Genre | : Business & Economics |
ISBN | : 3038427810 |
Download Performance and Behavior of Family Firms Book in PDF, ePub and Kindle
This book is a printed edition of the Special Issue "Performance and Behavior of Family Firms" that was published in IJFS