Ownership Structure Effects On Financial Performance

Author : Temesgen Kabeta, Manduku Daniel Ogwoka, Damaris W. W. Muhika, Zulekha Ndurukia, Fredrick Kiprop Lagat
Publisher : AJPO Journals USA LLC
Page : 172 pages
File Size : 45,6 Mb
Release : 2023-02-08
Category : Business & Economics
ISBN : 9789914745528

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Ownership Structure Effects on Financial Performance by Temesgen Kabeta, Manduku Daniel Ogwoka, Damaris W. W. Muhika, Zulekha Ndurukia, Fredrick Kiprop Lagat Pdf

TOPICS IN THE BOOK Review of Microfinance and Women Empowerment in Ethiopia Influence of Ethical Investor Relations on the Financial Performance of Listed Firms in Kenya Influence of Tax Compliance Requirement on Formalizing Small and Medium Enterprises in Kenya The Determinants of Demand for Micro Insurance Services in Kenya Effects of the Ownership Structure on the Relationship between Risk Management Practices and Financial Performance of Financial Institutions in Kenya

Author : Alqatan, Ahmad,Hussainey, Khaled,Khlif, Hichem
Publisher : IGI Global
Page : 425 pages
File Size : 40,6 Mb
Release : 2020-09-25
Category : Business & Economics
ISBN : 9781799848530

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Corporate Governance and Its Implications on Accounting and Finance by Alqatan, Ahmad,Hussainey, Khaled,Khlif, Hichem Pdf

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 : Hoang N. Pham,Sardar M. N. Islam
Publisher : Routledge
Page : 190 pages
File Size : 51,8 Mb
Release : 2022-01-25
Category : Business & Economics
ISBN : 9781000540277

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Corporate Governance, Ownership Structure and Firm Performance by Hoang N. Pham,Sardar M. N. Islam Pdf

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 : Christian Funke
Publisher : GRIN Verlag
Page : 109 pages
File Size : 51,6 Mb
Release : 2007-07
Category : Electronic
ISBN : 9783638702256

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Ownership Structure as a Determinant of Capital Structure - An Empirical Study of DAX Companies by Christian Funke Pdf

Diploma Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,1 (A), European Business School - International University Schlo Reichartshausen Oestrich-Winkel (Endowed-Chairf for Corporate Finance and Capital Markets), language: English, abstract: The idea that the general characteristics of a firm's ownership structure can affect performance has achieved considerable attention and related research brought forward relatively consistent empirical evidence e.g. on the positive impact of managerial ownership on firm performance. However, the evidence on the relation between ownership and capital structure is less consistent and numerous, although there are good reasons to believe that there may be such a relationship. Since the capital structure irrelevance propositions of MODIGLIANI/MILLER economists have devoted considerable time to studying cross-sectional and time-series variations in capital structure. More recent work following the seminal contribution by JENSEN/MECKLING has employed an agency theory perspective in the search for an explanation of capital structure variations. With this managerial perspective capital structure is not only explained by variations in internal and external contextual factors of the firm, but also by the values, goals, preferences and desires of managers. Corporate financing decisions are influenced by managers' incentives and the incentives for managers to act opportunistically can be influenced by the ownership structure of the firm. However, most empirical work analyzing a firm's capital structure in cross-sectional and time-series studies ignores the equity ownership structure as a possible explanatory variable. This can be partly explained by problems associated with the availability of ownership data, when compared to readily available accounting and market data on other relevant variables. Notwithstanding, it entails a problem of model misspecification as omitting a relevant variable

Author : Arvin Ghosh
Publisher : Routledge
Page : 140 pages
File Size : 55,6 Mb
Release : 2017-07-05
Category : Business & Economics
ISBN : 9781351530170

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Capital Structure and Firm Performance by Arvin Ghosh Pdf

Capital structure theory is one of the most dynamic areas of finance and forms the basis for modern thinking on the capital structure of firms. Much controversy has resulted from comparisons of the theory of capital structure originally developed by Franco Modigliani and Merton Miller to real-world situations. Two competing theories have emerged over the years, the optimal capital structure theory and the pecking order theory.Arvin Ghosh begins with an overview of the controversies regarding capital structure theories, and then statistically tests both the optimal capital structure and pecking order theories. Using the binomial approach he analyzes the determinants of capital structure while discussing the role of market power in determining capital structure decisions. Ghosh probes the questions of new stock offerings and stockholders' returns, and analyzes capital structure and executive compensation. He then looks into debt financing ownership structure, and the controversal relationship between capital structure and firm profitability. Finally, he discusses the latest developments in the field of capital structure.A concise overview of a major issue in business economics and finance, this volume provides a fuller understanding of capital structure influence on the financial performance of firms, and will certainly stimulate further debate. While hundreds of scholarly articles have been written on the subject this is the first book to test competing theories against measurements of firms' performance and their underlying capital structure.

Author : Kerstin Groß
Publisher : Springer Science & Business Media
Page : 380 pages
File Size : 51,8 Mb
Release : 2007-05-06
Category : Business & Economics
ISBN : 9783790819342

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Equity Ownership and Performance by Kerstin Groß Pdf

The empirical studies presented in this book model the endogeneity by applying the simultaneous equations methodology on the relation of ownership and financial performance as well as on different ownership dimensions themselves. Its final model comprises a four equations system containing performance, general ownership concentration, managerial and institutional ownership.

Author : Esra Memili
Publisher : MDPI
Page : 174 pages
File Size : 55,9 Mb
Release : 2018-03-23
Category : Electronic book
ISBN : 9783038427810

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Performance and Behavior of Family Firms by Esra Memili Pdf

This book is a printed edition of the Special Issue "Performance and Behavior of Family Firms" that was published in IJFS

Author : Krishna Dayal Pandey,Tarak Nath Sahu
Publisher : Taylor & Francis
Page : 135 pages
File Size : 48,8 Mb
Release : 2023-08-16
Category : Business & Economics
ISBN : 9781000924978

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Capital Structure, Equity Ownership and Corporate Performance by Krishna Dayal Pandey,Tarak Nath Sahu Pdf

This book provides empirical insights into the relationship between capital and equity-ownership structure of Indian manufacturing companies and their financial performance. It discusses and analyses the basic theories and concepts associated with capital structure, debt financing, levered and unlevered firms, the various forms of ownership, agency problem and its kind and the exploitation of minority owners by the large and largest owners. The study employs a set of the most reliable and suitable econometric estimation techniques to draw meaningful inferences on the Indian manufacturing sector. The novelty of this book lies in three particular aspects: the depth and dimension with which the topic is addressed; the robust empirical evidence that it has produced and the simple and intelligible approach with which it is authored. It communicates the crucial relevance of corporate capital structure and equity-ownership to the moderation of agency relationship and shaping the internal governance mechanism, which ultimately results in increased or decreased operational efficiency and financial performance. It will enable readers to understand whether an increased amount of debt capital would bring about positive results for firms or create an extra burden on the management of their finances, preventing them from taking productive investment decisions due to the threat of liquidation. The book will find an audience among advanced students, scholars and researchers who are interested in understanding the corporate finance practices and governance mechanism of Indian organizations.

Author : Mr.David Coady,Allan Dizioli
Publisher : International Monetary Fund
Page : 23 pages
File Size : 42,6 Mb
Release : 2017-05-26
Category : Business & Economics
ISBN : 9781484302132

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Income Inequality and Education Revisited by Mr.David Coady,Allan Dizioli Pdf

This paper presents new results on the relationship between education expansion and income inequality. While human capital theory suggests that income inequality increases with inequality of education outcomes, the expected relationship between income inequality and the level of education is ambiguous. Consistent with these theoretical priors, when dynamic panel estimation techniques are used to address issues of persistence and endogeneity we find a large, positive, statistically significant and stable relationship between education inequality and income inequality, especially in emerging and developing economies and among older age cohorts. The relationship between income inequality and education levels is positive but small and not always statistically significant, but we find a statistically significant negative relationship with schooling levels of younger cohorts. Statistical tests indicate that our dynamic estimators are consistent and that our identifying instruments are valid. Policy simulations suggest that education expansion will continue to be inequality reducing but that this role will diminish as countries develop.

Author : Alan Bryman,Duncan Cramer
Publisher : Psychology Press
Page : 313 pages
File Size : 51,9 Mb
Release : 1997-01
Category : Social Science
ISBN : 0415147190

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Quantitative Data Analysis with SPSS for Windows by Alan Bryman,Duncan Cramer Pdf

Quantitative Data Analysis with SPSS for Windows explains statistical tests using the latest version of SPSS, the most widely used computer package for analysing quantitative data. Using the same formula-free, non-technical approach as the highly successful non-windows version, it assumes no previous familiarity with either statistics or computing, and takes the reader step-by-step through each of the techniques for which SPSS for Windows can be used, including: correlation simple and multiple regression multivariate analysis of variance and covariance factor analysis The book also contains a comprehensive range of exercises with answers, and covers issues such as sampling, statistical significance, and the selection of appropriate tests.

Author : Jeffrey Pfeffer,Gerald R. Salancik
Publisher : Stanford University Press
Page : 336 pages
File Size : 55,5 Mb
Release : 2003
Category : Business & Economics
ISBN : 9780804747899

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The External Control of Organizations by Jeffrey Pfeffer,Gerald R. Salancik Pdf

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 : derek c. jones, panu kalmi and niels mygind
Publisher : Unknown
Page : 52 pages
File Size : 48,5 Mb
Release : 2003
Category : Electronic
ISBN : UOMDLP:b209096x:0001.001

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choice of ownership structure and firm performance by derek c. jones, panu kalmi and niels mygind Pdf

Author : Kose John,Anil K. Makhija,Stephen P. Ferris
Publisher : Emerald Group Publishing
Page : 250 pages
File Size : 46,9 Mb
Release : 2013-12-18
Category : Business & Economics
ISBN : 9781783501212

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Advances in Financial Economics by Kose John,Anil K. Makhija,Stephen P. Ferris Pdf

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.

Author : John Joseph
Publisher : GRIN Verlag
Page : 32 pages
File Size : 46,8 Mb
Release : 2018-06-22
Category : Business & Economics
ISBN : 9783668733077

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The Leverage Effect on Financial Performance. A Review of Empirical Evidence by John Joseph Pdf

Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, , language: English, abstract: The International Financial Reporting Standards (IFRS) is a high quality and principle based reporting standards that remove many accounting alternatives. It is therefore, consequently expected to limit the management’s discretion and lessen practices on earnings management. Quite the opposite, some researchers argue that the flexibility in IFRS and its fair value pre-eminence might afford greater opportunities for firms to manage earnings. It is this inaptness which incited and aggravated the conduct of this study. This study applies a desktop review to investigate the worldwide existing empirical research evidence on the effect of IFRS on earnings management post- IFRS adoption and in relation to other reporting standards and reports whether the results are indistinguishable between developed and developing economies. Accounting research in developed economies has long identified earnings management as a means by which managers manipulate financial reports to mislead other stakeholders on the underlying economic performance of the firm. However, earnings management research did not receive much attention in developing countries such as Nigeria until recently. The findings reveal that the existing empirical crams and conclusions there on are mixed, inconsistent and difficult to generalise. This indicates the pressing need for country, especially Nigeria to engage on studies of this nature. The study further, stumbles on the fact that IFRS can indistinctly benefit both developing and developed markets when coupled with appropriate effective enforcement machinery. Substantially, the results entail that IFRS is a critical determinant for quality reporting but not a ‘prima facie’ guarantor for quality reporting.

Author : N. Capon,John U. Farley,S. Hoenig
Publisher : Springer Science & Business Media
Page : 414 pages
File Size : 40,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401153805

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Toward an Integrative Explanation of Corporate Financial Performance by N. Capon,John U. Farley,S. Hoenig Pdf

This volume is a milestone on our journey toward developing a more comprehensive understanding of the underpinnings of corporate financial performance. Weare concerned with both the factors that cause the financial performance of some firms to be better than others at a point in time and those factors that influence the trajectory of firm financial performance over time. In addressing these issues, we consider theoretical and empirical work on financial performance, drawn from several literatures, as well as present the results from our own empirical study. The review of the theoretical and empirical work is contemporary; the major portion of data comprising the empirical study was collected in the early 1980s as part of the Columbia Business School project on corporate strategic planning, but some data sequences extend into the mid-1980s and early 1990s. Our goals are to improve understanding of firm financial performance by developing a more integrated framework and to develop a research agenda based on what we have learned. This volume consists of four chapters, 12 appendices that provide detailed technical support and development for various portions of the discussion and an extensive set of references. It interweaves results from published literature in various fields with our original empirical work and develops an integrative approach to the study of firm fmancial performance.