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Author: Jihane Nicolas Assaf
Publisher:
ISBN:
Category :
Languages : en
Pages : 126
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Book Description
Corporate Governance is currently a subject of great international concern and debate. Ownership structure is one major aspect of it that varies widely among d ifferent systems. Many literatures have been written on the subject but academics still a rgue that there is a tradeoff between large ownership concentration and liquidity. This study examines the relationship between ownership structure and financial performance. The variables used to represent ownership structure in te rms of ownership concentration and shareholders' identity are: Percentage of shares hel d by insiders and 5% owners, Percentage of shares held by institutions, Percentage of shares held by the major shareholder, four dummy variables indicating whether the major shareholder is an institution, a beneficial owner, the CEO, or an insider other than the CEO. Other control variables, which are the size of the firm, debt- to- equity r atio, and capital intensity, are used in order to capture the variability of firms' charac teristics and obtain a solid regression model. Financial performance is represented by both accounting and financial measures, which are: ROA, Market to Book Ratio, and Returns on Stocks on both the short and long- run. This study results in: * A positive relationship exists between the Percentage of Shares Held by Institutions & Mutual Funds Owners and ROA. * Having an insider as the major shareholder affects positively ROA. * Having the COE as the major shareholder has a positive impact on the Market To Book Ratio. * A positive relationship exists between the Percentage of Shares Held by Institutions & Mutual Funds Owners and the Five- Year Returns on Stocks. * A positive relationship exists between the Percentage of Shares Held by Insiders & 5% Owners and the Five- Year Returns on Stocks. * A negative relationship exists between the Number of Ownership Blocks exceeding 5% and The Five- Year Returns on Stocks. * Having an institution as the major shareholder affects negatively the Five-Yea r Returns on Stocks.
Author: Jihane Nicolas Assaf
Publisher:
ISBN:
Category :
Languages : en
Pages : 126
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Book Description
Corporate Governance is currently a subject of great international concern and debate. Ownership structure is one major aspect of it that varies widely among d ifferent systems. Many literatures have been written on the subject but academics still a rgue that there is a tradeoff between large ownership concentration and liquidity. This study examines the relationship between ownership structure and financial performance. The variables used to represent ownership structure in te rms of ownership concentration and shareholders' identity are: Percentage of shares hel d by insiders and 5% owners, Percentage of shares held by institutions, Percentage of shares held by the major shareholder, four dummy variables indicating whether the major shareholder is an institution, a beneficial owner, the CEO, or an insider other than the CEO. Other control variables, which are the size of the firm, debt- to- equity r atio, and capital intensity, are used in order to capture the variability of firms' charac teristics and obtain a solid regression model. Financial performance is represented by both accounting and financial measures, which are: ROA, Market to Book Ratio, and Returns on Stocks on both the short and long- run. This study results in: * A positive relationship exists between the Percentage of Shares Held by Institutions & Mutual Funds Owners and ROA. * Having an insider as the major shareholder affects positively ROA. * Having the COE as the major shareholder has a positive impact on the Market To Book Ratio. * A positive relationship exists between the Percentage of Shares Held by Institutions & Mutual Funds Owners and the Five- Year Returns on Stocks. * A positive relationship exists between the Percentage of Shares Held by Insiders & 5% Owners and the Five- Year Returns on Stocks. * A negative relationship exists between the Number of Ownership Blocks exceeding 5% and The Five- Year Returns on Stocks. * Having an institution as the major shareholder affects negatively the Five-Yea r Returns on Stocks.
Author: Michael J. Rubach
Publisher: Routledge
ISBN: 1000525007
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
First Published in 2000. This book examines the shareholder activism of institutional investors and the effect of shareholder activism on portfolio performance. Institutional shareholder activism includes both traditional mechanisms of influence (e.g., filing shareholder proposals) and relationship investing (e.g., long-term interorganizational contacts between owners and a corporation’s top managers).
Author: Michael J. Rubach
Publisher: Taylor & Francis
ISBN: 9780815335023
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
First Published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.
Author: David L. Kang
Publisher:
ISBN:
Category :
Languages : en
Pages : 84
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Book Description
The study explores how power relationships between large-block shareholders and professional managers affect performance in public corporations. Certain types of shareholders with large ownership stakes are hypothesized to have formal authority, social influence and expertise that enables them to control public corporations, resulting in superior corporate performance. This idea is tested in a study of the U.S. textile industry from 1983-1992, an industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, public corporations with outside-director owners, sustained owners and family owners each enjoy increased firm performance relative to industry competitors. These results suggest that large-block owners are not homogenous and that certain types of owners have a disproportionately large amount of influence in corporate governance.
Author: Jennifer G. Hill
Publisher: Edward Elgar Publishing
ISBN: 1782546855
Category : Law
Languages : en
Pages : 638
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Book Description
Much of the history of corporate law has concerned itself not with shareholder power, but rather with its absence. Recent shifts in capital market structure require a reassessment of the role and power of shareholders. These original, specially commiss
Author: Laixiang Sun
Publisher: Springer
ISBN: 1403943907
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
Conventional wisdom recommends the superiority of private ownership of enterprises. The reality confronts it with a rich diversity in ownership and governance structures. This volume examines five types of unorthodox ownership and governance form emerging in the industrial sector across major economies. It analyzes two cases to demonstrate that there are alternative ways to harden budget constraints of state-owned enterprises. It investigates the driving forces behind these evolving dynamics and explores policy implications for developing and transition economies.
Author: Muji Setiyo
Publisher: European Alliance for Innovation
ISBN: 1631903152
Category : Social Science
Languages : en
Pages : 1516
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Book Description
The Covid-19 pandemic has changed our activities, like teaching, researching, and socializing. We are confused because we haven’t experienced before. However, as Earth's smartest inhabitants, we can adapt new ways to survive the pandemic without losing enthusiasm. Therefore, even in pandemic conditions, we can still have scientific discussions, even virtually. The main theme of this symposium is "Reinforcement of the Sustainable Development Goals Post Pandemic" as a part of the masterplan of United Nations for sustainable development goals in 2030. This symposium is attended by 348 presenters from Indonesia, Malaysia, UK, Scotland, Thailand, Taiwan, Tanzania and Timor Leste which published 202 papers. Furthermore, we are delighted to introduce the proceedings of the 2nd Borobudur Symposium Borobudur on Humanities and Social Sciences 2020 (2nd BIS-HSS 2020). We hope our later discussion may result transfer of experiences and research findings from participants to others and from keynote speakers to participants. Also, we hope this event can create further research network.
Author: Jinesh N. Panchali
Publisher:
ISBN:
Category : Corporate governance
Languages : en
Pages : 14
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Book Description
Author: Mike Wright
Publisher: OUP Oxford
ISBN: 0191649368
Category : Business & Economics
Languages : en
Pages : 832
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Book Description
The behavior of managers-such as the rewards they obtain for poor performance, the role of boards of directors in monitoring managers, and the regulatory framework covering the corporate governance mechanisms that are put in place to ensure managers' accountability to shareholder and other stakeholders-has been the subject of extensive media and policy scrutiny in light of the financial crisis of the early 2000s. However, corporate governance covers a much broader set of issues, which requires detailed assessment as a central issue of concern to business and society. Critiques of traditional governance research based on agency theory have noted its "under-contextualized" nature and its inability to compare accurately and explain the diversity of corporate governance arrangements across different institutional contexts. The Oxford Handbook of Corporate Governance aims at closing these theoretical and empirical gaps. It considers corporate governance issues at multiple levels of analysis-the individual manager, firms, institutions, industries, and nations-and presents international evidence to reflect the wide variety of perspectives. In analyzing the effects of corporate governance on performance, a variety of indicators are considered, such as accounting profit, economic profit, productivity growth, market share, proxies for environmental and social performance, such as diversity and other aspects of corporate social responsibility, and of course, share price effects. In addition to providing a high level review and analysis of the existing literature, each chapter develops an agenda for further research on a specific aspect of corporate governance. This Handbook constitutes the definitive source of academic research on corporate governance, synthesizing studies from economics, strategy, international business, organizational behavior, entrepreneurship, business ethics, accounting, finance, and law.
Author: Thomas Clarke
Publisher: SAGE Publications
ISBN: 1412929814
Category : Business & Economics
Languages : en
Pages : 681
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Book Description
A timely and definitive intellectual map of a key emerging discipline, the SAGE Handbook of Corporate Governance critically overviews the key themes, theoretical controversies, current research and emerging concepts that frame the field. Consisting of original substantive chapters by leading international scholars, and examining corporate governance from an inter-disciplinary basis, the text highlights how critical governance issues are to the formation, growth, financing, structural development, and strategic direction of companies and how corporate governance institutions in turn influence the innovation and development of industrial and economic systems globally. Comprehensive, authoritative and presented in a highly accessible framework, the Handbook is a significant resource to those with an interest in understanding this important emerging field.
