Download or read book Examining Corporate Governance Impact on Capital Structure in Publicly Traded Companies written by Corey David Cole and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investigating the Impact of Corporate Governance on Capital Structure written by Aamer Shahzad and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigates the impact of multidimensional aspects of corporate governance on capital structure of manufacturing firms listed on the Karachi Stock Exchange (KSE), Pakistan during the period 2007-2012. All the manufacturing firms covered in KSE 100 index have been considered for analysis. The findings of the study suggest that the Corporate Governance Index (CGI) is statistically significant and negatively related to both measures of capital structure (i.e., total debt ratio and long-term debt ratio). This implies that sound corporate governance firms pursue lower leverage to avoid financial risk and dilution of powers. The findings of the study will help the firm managers in achieving an optimal level of capital structure. It also helps the regulatory authorities in making laws and providing institutional support to make corporate governance mechanisms more effective.

Download or read book Corporate Governance Ownership Structure and Capital Structure written by Yi Feng and published by . This book was released on 2020 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose - This paper seeks to contribute to the existing capital structure and board structure literature by examining the relationship among corporate governance, ownership structure and capital structure.Design/methodology/approach - The paper employs a panel data of 595 firm-year observations from a unique and comprehensive data set of 119 Chinese real estate listed firms from 2014 to 2018. It uses fixed effect and random effect regression analysis techniques to examine the hypotheses.Findings - The results show that the board size, ownership concentration and firm size have positive influences on capital structure. State ownership and firm profitability have inverse influences on capital structure. Research limitations/ implications - The findings suggest that better-governed companies in the real estate sector tend to have better capital structure. These findings highlight the unique Chinese context and also offer regulators a strong incentive to pursue corporate governance reforms formally and jointly with ownership structure. Lastly, the results suggest investors the chance to shape detailed expectations about capital structure behavior in China. Future research could investigate capital structure using different arrangement, conducting face-to-face meetings with the firm's directors and shareholders. Practical implications- The findings offer support to corporate managers and investors in forming or /and expecting an optimal capital structure, and to policymakers and regulators for ratifying laws and developing institutional support to improve the effectiveness of corporate governance mechanisms.Originality / value - This paper extends, as well as contributes to the current capital structure and corporate governance literature, by proposing new evidence on the effect of board structure and ownership structure on capital structure. The results will help policymakers in different countries in estimating the sufficiency of the available corporate governance reforms to improve capital structure management.

Download or read book Corporate Governance in Global Capital Markets written by Janis Sarra and published by UBC Press. This book was released on 2011-11-01 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent failures of Enron, WorldCom, and other large publicly traded corporations have catapulted the issue of corporate governance onto the international stage. In this timely book, Janis Sarra draws together the work of legal scholars and practitioners from across North America to provide a comprehensive analysis of corporate governance issues in global capital markets. The contributors to this collection explore the theoretical underpinnings of corporate governance and provide concrete illustration of different models and their outcomes. While the perspectives of the authors sometimes differ, their common project is to explore different normative conceptions of the corporation in order to contribute to an analysis of global trends in corporate governance.

Download or read book Corporate Governance in Central Europe and Russia written by Maria Aluchna and published by Springer Nature. This book was released on 2020-03-04 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines corporate governance through a holistic lens that integrates financial, social and environmental goals, e.g. increasing transparency and disclosure. In addition, it investigates the theoretical assumptions guiding the current corporate governance practices adopted by companies in Central Europe and Russia. The book presents a dynamic study on the evolution of corporate governance systems, which were practically non-existent just 30 years ago. In turn, it addresses criticism leveled at corporate governance, its impact on the outbreak of the financial crisis, and recommendations for changes after the crisis. The book employs a regional focus, exploring a group of countries that have often been neglected in corporate governance research. Carefully selected data and a variety of case studies prepared by leading authors from the region provide evidence to support the analysis.

Download or read book The Effect of Corporate Governance and Capital Structure on Firms Performance written by Kamran Nawaz and published by . This book was released on 2017 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The attempt of the research is to realize the key factors and examine the effect of corporate governance and capital structure on firms' financial performance belonging to petroleum sector which are registered on Pakistan Stock Exchange (PSX). The study focuses on data gathered from five companies of petroleum sector keeping in view the present situation of Pakistan and current economic, political and legislative environment to evaluate and judge the challenges and risks affecting the firms' performance. Only a single source of data is used which is secondary. The sample employed in the current research is comprised of five firms listed in the PSX index under the petroleum sector. The sample size selected for the purpose of this research is consisting of nine years annual data of the variables starting from year 2007 to year 2015 used. Multiple Regression model is used as the statistical technique and SPSS statistics has been used for examination of hypotheses. The empirical results investigated that Short term debt ratio and Long term debt ratio has significantly negative correlation with ROA. The firms with lesser STD & LTD ratio lead to higher financial performance. Consequently, board size and no. of shareholders has insignificant relationship with ROA. Furthermore, the study investigated that ROE has insignificant either negative or positive relationship with all the independent variables namely Board size, No. of shareholders, Short-term debt ratio and Long-term debt ratio.

Download or read book Corporate Governance Ownership Structure and Firm Performance written by Hoang N. Pham and published by Routledge. This book was released on 2022-01-25 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Moderating Influence Of Corporate Governance written by John Wanga Juma and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the intervening role of corporate governance on the relation between capital structure and firm value of companies quoted in the Nairobi Stock Exchange. Local stream of studies of the influence of corporate governance on the relation between Capital Structure and firm value have adopted duality approach in examining the relations among the three study constructs: the relation between firm value and capital structure, the relation between capital structure and corporate governance and the relation between corporate governance and firm value but ignores the mediating (moderating) role of corporate governance, leading to controversial empirical results on studies carried on the topic. The book assesses how the adoption of corporate governance structures influences the financing decisions of firms and the impact on the firm value. The discussions provide a basis for future research and verification of the validity of this model through application of the analysis to a wide sample of firms. The author provides insights on how to improve previous controversial analysis on the topic. The book is recommended for graduate students and reseachers in Finance field.

Download or read book Corporate Governance written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2010-08-20 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed look at the importance of corporate governance in today's business world The importance of corporate governance became dramatically clear at the beginning of the twenty-first century as a series of corporate meltdowns from managerial fraud, misconduct, and negligence caused a massive loss of shareholder wealth. As part of the Robert W. Kolb Series in Finance, this book provides a comprehensive view of the shareholder-manager relationship and examines the current state of governance mechanisms in mitigating the principal-agent conflict. This book also offers informed suggestions and predictions about the future direction of corporate governance. Relies on recent research findings to provide guidance through the maze of theories and concepts Uses a structured approach to put corporate governance in perspective Addresses essential issues related to corporate governance including the idea of principal-agent conflict, role of the board of directors, executive compensation, corporate monitoring, proxy contests and corporate takeovers, and regulatory intervention Corporate governance is an essential part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

Download or read book Responsible Leadership in Corporate Governance written by Monique Cikaliuk and published by Taylor & Francis. This book was released on 2022-10-31 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Responsibly led boards of directors make it possible for modern companies to survive and prosper under conditions of change. Despite the importance of boards of directors, their activities are often lionised or vilified by shareholders and stakeholders which obscures how boards enact responsible leadership. Responsible Leadership in Corporate Governance: An Integrative Approach introduces an integrative model of responsible leadership in governance that positions the board as a nexus of all corporate participants. In this model, responsibly led boards seek to make decisions in the best interests of the modern company as an entity that operates in a dynamic business environment. This book provides a timely focus on in-depth cases of board led responsible leadership. Examining boards of directors in listed companies, state-owned enterprises, and private companies, the book connects insights from corporate governance and leadership to behaviours that affect boards’ relationships with shareholders and stakeholders. In addition, these insights underscore key requirements and challenges of responsible leadership in governance: from the importance of purpose and the crucial role of value creation to the difficulties of ownership transition and accountability. Far-sighted and experienced-based, this book will not only help students connect to real world situations but also will benefit those that interact with and support boards of directors.

Download or read book Corporate Governance and Performance of Peer Firms written by Gul Rukh and published by GRIN Verlag. This book was released on 2018-03-20 with total page 131 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 The Influence of Board Independence on Ability to Operate and Capital Structure Through Corporate Governance Disclosure of Companies Listed on the Stock Exchange of Thailand written by Senee Puangyanee and published by . This book was released on 2018 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this study is to investigate the influence of board structure on corporate governance, profitability and capital structure of 254 listed companies in the stock exchange of Thailand. By analyzing data based on Multiple Indicators and Multiple Causes (MIMIC) Model. The findings reveal a harmony between hypothetical assumption and empirical analysis with the results of statistical tests. It can be concluded that the research, board structure of independent director (BSOI) and director's relative (DTRT) has a positive influence on corporate governance disclosure (CGRD) at coefficient value of 0.26 with a significance level of .05 and 0.27 with a significance level of .01 . Also, corporate governance disclosure (CGRD) positively effect on profitability (PFBR) and capital structure (CPTS) at coefficient values of 0.33 with a significance level of .05 and 0.20 with a significance level of .01 respectively.

Download or read book Corporate Governance Matters written by David Larcker and published by FT Press. This book was released on 2011-04-14 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions.

Download or read book Corporate Governance and Expected Stock Returns written by Andreas Schillhofer and published by Springer-Verlag. This book was released on 2003-08-28 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of several high profile corporate collapses the discussion about corporate governance has intensified and professional investors have become more conscious of their rights of control in the portfolio companies. Whereas Anglo-American authors have done excellent work on the relationship between corporate governance and firm valuation, there is little empirical evidence on this topic in Germany. But recent works suggest that a stricter legal environment leads to lower expected rates of return in an international cross-section of countries. Andreas Schillhofer investigates whether differences in firm-specific corporate governance also help to explain expected returns in a cross-section of firms within a single jurisdiction. Based on his Corporate Governance Rating (CGR) for German firms, the author documents a positive relationship between the CGR and firm value. In addition, there is strong evidence that expected returns are negatively correlated with the CGR if dividend yields and price-earnings ratios are used as proxies for the cost of capital.

Download or read book Corporate Governance in the US and Global Settings written by Kose John and published by Emerald Group Publishing. This book was released on 2014-11-20 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 17 of Advances in Financial Economics, entitled "Corporate Governance in the US and Global Settings" will provide further insights into corporate governance in the US & global economic and financial environment by publishing international, within-country and cross-country comparative studies.

Download or read book The Board of Directors written by Ettore Croci and published by Springer. This book was released on 2018-12-04 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Boards of directors are a central feature of any corporate governance regime. The role of directors and how they affect firm value and policies is examined in depth in academic literature. However, it is easy to get both lost and overwhelmed when searching through the literature review that investigates several characteristics, often one at the time. This book provides a careful and concise look at corporate finance literature, specifically with regard to the board of directors, summarizing the main findings and reconciling them. This book documents the pros and cons associated with the various attributes of the board and the directors as found in the current literature and provides sections geared specifically to practitioners in this space, as well, allowing for a better and more comprehensive description of this important corporate governance mechanism. The resulting book aims to facilitate the interpretation of changes in corporate governance through the lens of the recent academic literature.

Download or read book Investor Protection and Corporate Governance written by Alberto Chong and published by World Bank Publications. This book was released on 2007-06-26 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level the first such data in the region and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.