Download or read book Corporate Governance Practices and Firm Performance of Listed Companies in Sri Lanka written by Kumudini Heenetigala and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study was to examine the relationship between corporate governance practices and firm performance in Sri Lanka, as a result of the adoption of code of best practice on corporate governance in 2003 and the extent of changes to corporate governance practices four years after (2007). During this period, the firms that operated in Sri Lanka were affected by political and economic instability. However, the stock market performed well.
Download or read book Corporate Governance Practices and Firm Performance written by Sivapalan Achchuthan and published by . This book was released on 2014 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance received much attention during the last two decades owing to certain economic reforms in countries and accidents of economic history such as regional market crisis and large corporate debacles. The main objective of the study is to find out the significant difference between corporate governance practices on Firm performance. And the secondary objective is to suggest the listed manufacturing firms in Sri Lanka to get the efficiency in the firm performance through the best corporate governance practices. Twenty eight listed manufacturing firms were selected as sample size in Colombo Stock Exchange for the periods 2007, 2008, 2009, 2010 and 2011. Independent sample one-way Anova (f-test) and Independent sample t-test have been utilized to find out the significant difference between corporate governance practices on firm performance. Finding revealed that, there is no significant mean different between the firm performance among corporate governance practices as board leadership structure, board committees, board meetings and proportion of non executive directors. We have suggested that, corporate governance practices should be reviewed in the systematic way to frame the best practices in the current Sri Lankan context.
Download or read book The relationship between corporate governance practices and firm performance in Malaysian Public Listed Companies written by and published by . This book was released on 2014 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Degree of Compliance with Corporate Governance Best Practices and Corporate Financial Performance of Public Listed Companies in Sri Lanka written by G.S Mapitiya and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of corporate governance became very clear as a result of many corporate scandals, failures, frauds, bankruptcies and disasters took place around the world in recent times. It is generally believed that a lack of sound corporate governance practices was one of the major reasons for these economic crises led to ruin shareholders wealth, loss of thousands of jobs, criminal investigation against executives, and a lot of bankruptcy filings in the United States of America, the United Kingdom, Japan, East Asian countries and all other parts of the world including large corporate failures in Sri Lanka. These issues have raised concerns about the reform of corporate governance practices throughout the world and have recently received much attention from policy-makers, regulators and the public. Considering the role of corporate governance practices through the lens of agency theory of Jensen & Meckling, this paper contributes to the existing knowledge in the field of corporate governance by exploring the relationship between corporate governance practices and corporate financial performance in terms of Return on Assets (ROA) and Return on Equity (ROE) specially paying attention on developing an index for measuring the degree of compliance with corporate governance practices. The study was conducted as a quantitative study based on secondary data collected from annual reports of fifty two public listed companies in Sri Lanka for the period 2009-2013. The unit of analysis of the study was a firm-year. Panel data regression analysis was used to test the hypothesis. The analysis indicates that compliance with corporate governance practices have a significant positive relationship with corporate financial performance in terms profitability of public listed companies in Sri Lanka.
Download or read book Compliance with Disclosure Principles and Financial Performance written by Hiranya Dissanayake and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study attempts to examine the relationship between the quality of a firm's disclosure principles related to corporate governance practices and such firm's financial performance, through the construction of a broad firm-specific Information and Disclosure Index (IDI) for a sample of 130 listed companies in Sri Lanka for the period of 2009 to 2016. The Signalling theory indicates that better disclosure is related to superior performance of firms, and thus has been used as the theoretical basis of this study in addition to the Agency theory. The data required for the study was collected using secondary sources, i.e., using the audited annual report data and articles of associations of respective companies. IDI was constructed using fifteen components to measure the compliance level of disclosures related corporate governance principles as stipulated in the CA Sri Lanka, OECD and UK codes of best practices on corporate governance, which was then used to score each company on a dichotomous scale. Financial Performance was measured by Return on Equity (internal financial performance of a firm) and Tobin's Q (to present the external market performance of a firm). In order to examine the relationship between the disclosures (IDI) and financial performance, both a Pearson's correlation and panel regression analyses (including the Hausman testing) were performed after data screening and cleaning as well as the diagnostics tests. In terms of the main findings, the descriptive analysis indicates that more than 70% (mean) of Sri Lankan firms have complied with disclosure principles of corporate governance practices, and the panel regression analysis indicated that firms with sound corporate governance disclosure (i.e., higher IDI) have significantly superior internal financial performance (measured via ROE). Thus, this study provides empirical support for the Signaling and Agency theoretical perspectives in the context of compliance requirements of disclosure, which leads to higher financial performance. Accordingly, as policy implications, regulators and policymakers need to establish monitoring mechanisms to ensure that firms comply with governance principles via formal institutional changes leading to stricter enforcement.
Download or read book Impact of Corporate Governance Practices on Firm Capital Structure and Profitability written by Ajanthan Alagathurai and published by . This book was released on 2014 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance issues have been a growing area of management research especially among large listed firms. Good corporate governance practices are regarded as important in reducing risk for investors, attracting investment capital and improving the performance of companies. Companies need financial resources and better earnings to promote their objectives. Therefore, factors may affect the capital structure and profitability of companies should be considered carefully. The purpose of the present study is to investigate whether there is any relationship among some specific characters of corporate governance, capital structure and profitability of listed Hotels &Restaurant companies in Colombo Stock Exchange (CSE). To do so, 18 companies were selected from those which were listed in CSE during the 2007-2012. The 'Board Composition(BC)', 'Board Size (BS)' and 'CEO Duality (CEOD)' were considered as independent variables, whereas,' Debt Ratio (DR)','Debt-to-Equity Ratio (DER)','Returns on Equity (ROE)',and 'Return on Assets (ROA)' as dependent variable. The results indicate a positive relationship between 'BS; BC; CEOD; ROE; ROA and DER whereas negative relationship between BS; BID and DR. In addition CEOD have a positive relationship with DR. In addition, none of the variables have a significant relationship with capital structure and profitability.
Download or read book Corporate Governance Innovation and Firm Performance written by Abdul Hadi Zulkafli and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Horizons in Management Leadership and Sustainability written by Satinder Dhiman and published by Springer Nature. This book was released on 2021-05-17 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing upon research and practitioner narratives from management, leadership, organizational studies, entrepreneurship and sustainable business domains, this book explores the many pathways that enable emerging countries to transform knowledge into action to achieve economic and sustainable development. The authors take a holistic approach to ‘transforming knowledge’ that goes beyond the mere ‘application of knowledge’ to include the assimilation, adaptation, and contextualization of knowledge to suit the unique contexts, needs and conditions existing in emerging countries. They then presents success stories and case studies comprising innovative solutions for emerging economies that practitioners can utilize. Current research in management is highlighted by bringing together academics, practitioners, policy-makers and interest groups from diverse regions and perspectives.
Download or read book Corporate Governance and Firm Performance written by Mark Hirschey and published by Emerald Group Publishing. This book was released on 2009-04-16 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on corporate governance, broadly defined as the system of controls that helps corporations and other organizations effectively manage, administer, and direct economic resources. This book focuses on: the impact of deregulation and corporate structure on productive efficiency; and the effectiveness of the fraud triangle and SAS.
Download or read book Corporate Governance and Firm Performance written by Abdullah Mohammed Alzahrani and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance Practices and Firm s Performance Among Public Listed Companies in Malaysia written by Sarimah Ramthandin and published by . This book was released on 2007 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Firm Performance Evidence from Indian Listed Companies written by Amitava Roy and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The belief that better CG leads to superior firm performance is widespread. Extant literature, however, has not consistently identified a relationship between CG and performance. The aim of this paper is to provide an exploratory inquiry into the dimensions and measurement of CG and to understand how it influences firm performance using principal component analysis (PCA). Our data consist of 58 listed Indian firms over the five year period from 2007-08 to 2011-12. Our measurement analysis begins with a broad sample of 37 structural indicators of CG relating to the board of directors, boards committees, audit considerations, ownership and capital structure characteristics, and control variables. We regressed ROA and MTBV, as measures of firm performance, against the factor scores generated in PCA. Firm performance, measured by ROA, resulted in R-square of 43.7%, and was significantly influenced by the 7 factors. Firm performance, measured by MTBV, resulted in R-square of 34.5%, and was significantly influenced by the 8 factors. We conclude that firm performance and value is strongly influenced by the CG structure of the firm.
Download or read book Corporate Governance and Financial Performance written by Pratheepkanth Puwanenthiren and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyses the correlation between Board attributes and company performance in a sample of 100 Australian and 100 Sri Lankan firms. The analysed Board attributes include size; gender ratio; fraction of non-independent members; and experience. The level of economic development considered to have a potential confounding effect on the outcomes. The analysis of the data suggest that: Boards in Australia are much larger than Boards in Sri Lanka; Boards are male dominated in both nations; and while Board structure provides predictive insight into firm performance, only a few individual attributes are significant. Important finding of this research is that the larger Boards of Australia have a significantly stronger influence on firm performance than the relatively smaller Boards of Sri Lanka. Future research should extend the review of the effects of Board size on corporate performance.
Download or read book A Study of Impact of Corporate Governance Practices on Firm Performance in Indian Japanese and South Korean Companies written by Pooja Gupta and published by . This book was released on 2013 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance exists today at a complex intersection of law, morality, and economic efficiency. Governance issue arises whenever a corporate entity acquires a life of its own and the ownership of the enterprise is separated from the management. Corporate Governance is needed to create a corporate culture of consciousness, transparency and openness. It enables a company to maximize the long term value of the company which is seen in terms of performance of the company. In this context, an attempt is made in this paper to study various Corporate Governance practices followed by companies in India, Japan and South Korea. A sample of five multinational companies from each country is studied based on the Corporate Governance practices that are being followed by them. This will include parameters like Board Constitution, Board Structure, Different Committees, Independent Directors and their roles, Conflict of interest and Disclosure of information. The objective is to determine if there is a relationship between corporate governance and firm performance. The study will check whether higher and better corporate governance scores lead to better performance of the companies. It is found in the study that corporate governance practices have limited impact on both the share prices of the companies as well as on their financial performance.
Download or read book Corporate Governance and Performance of Peer Firms written by Gul Rukh and published by . This book was released on 2018-03-21 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project Report from the year 2014 in the subject Business economics - General, grade: A, language: English, abstract: In this study we elaborate the effects of corporate governance practices which recently practiced in Pakistani firms and also examine the relationship among corporate governance mechanisms, capital structure, dividend policy and firm performance. Those researchers who could not find significant link between corporate governance and firm performance suggest that good corporate governance has at least indirect effect on performance. This research attempts to prove that corporate governance effects firm performance directly; relatively it exerts its effects on firm performance through other factors such as capital structure decisions and dividend policy. This research study develops a multilevel model linking corporate governance, capital structure, dividend policy and firm performance then proves it through structural equation modeling (SEM). Corporate governance has been measured and conceptualized through Board Size, Board Composition, CEO Duality, Audit Committee Size and Annual General Meetings. Capital structure has been measured through it standardized proxy that is debt to equity ratio, while dividend policy is measured by dividend payout ratio. Firm performance has measured by two ratios return on assets (ROA) and return on equity (ROE) both are used as accounting and financial measure in the literature review.
Download or read book Corporate Governance and Ethics written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2008-06-16 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to present a comprehensive framework of the theory and practice of corporate governance and business ethics by focusing on the four cornerstones promoted by the AACSB. Readers will quickly gain an understanding of the main themes, perspectives, frameworks, concepts, and issues pertaining to corporate governance and business ethics from historical, global, institutional, commercial, best practices, and regulatory perspectives. Additionally, there is also complete coverage of all oversight functions of corporate governance.
Download or read book Corporate Governance Firm Profitability and Share Valuation in the Philippines written by Asian Development Bank and published by Asian Development Bank. This book was released on 2019-06-01 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines 73 publicly listed companies in the Philippines to determine the relationship between the quality of corporate governance practices and company performance. It concludes that as a company's corporate governance practices improve, there is likely to be positive and significant impacts on its market capitalization, market valuation, and profitability. The study was jointly conducted by the Asian Development Bank, the Institute of Corporate Directors, and the University of Asia and the Pacific.
