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Book The Relationship Between Board Composition Leadership Structure and Firm Performance

Download or read book The Relationship Between Board Composition Leadership Structure and Firm Performance written by Ghulam Abid and published by . This book was released on 2016 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Board of directors has been recognized as an important element of the governance mechanism in a firm; particularly after the high profile catastrophes like Enron, Andersen, AOL, Parmalat, WorldCom and many more around the globe; that led to huge economic losses; and ultimately resulting in devastation of financial sectors around the globe. These losses have raised serious concerns regarding governance issues in the corporate sector; particularly questioning the capability of the boards in terms of securing stockholders' wealth. As a result, majority of the corporate governance reforms (codes, practices, regulations, recommendations, etc.) have directly linked corporate governance practices to increased functioning of the board members. This study aims at advancing the global corporate research agenda by collecting fresh evidence from Pakistan. We shall be studying listed companies working under the corporate governance regime in Pakistan; and will be looking at the association between board compositions and firms' performance. The aim of this study is to look at the impact of board composition on two performance measures (return on assets and return on equity) of the firm. Using linear regression on actual sample of 100 listed companies on the Lahore Stock Exchange, Pakistan, we have found that board composition (i.e. independent directors and chairman elected from non-executive director) and leadership structure (CEO duality) significantly related to the firm performance. Furthermore, we found that two accounting measures demonstrate different results.

Book The Impact of Ownership Structure and Executive Team Composition on Firm Performance

Download or read book The Impact of Ownership Structure and Executive Team Composition on Firm Performance written by Eva M. Meyerson and published by Coronet Books. This book was released on 1992 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a survey of 29 public companies conducted in 1980-1988.

Book Board Composition Board Activity and Ownership Concentration the Impact on Firm Performance

Download or read book Board Composition Board Activity and Ownership Concentration the Impact on Firm Performance written by Shiguang Ma and published by . This book was released on 2014 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a parallel investigation on the impact of board composition, board activity and ownership concentration on the performance of listed Chinese firms. We find that independent directors enhance firm performance effectively than other board factors. The frequency of shareholder meetings, rather than board meetings, is positively associated with firm value. Tradable share ownership concentration has a positive and linear relationship with firm value, while state and total share ownership concentration represent U(V) shapes. Importantly, companies with the highest levels of both total share and tradable share ownership concentration have a greater firm values than companies with the highest levels of only a single concentration.

Book Board Composition Managerial Ownership and Firm Performance

Download or read book Board Composition Managerial Ownership and Firm Performance written by Scott W. Barnhart and published by . This book was released on 2009 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simultaneous-equations techniques are being used more often in corporate governance research. However, when no formal theoretical model is present, misspecification in one or more of the first or second stage regression is likely, causing empirical results to be seriously biased. This paper investigates the combined effect of ownership structure and board composition on corporate performance, using an instrumental-variables approach that allows for sensitivity analysis. The results indicate that managerial ownership, board composition, and Tobin's Q are jointly determined. More importantly, final results are very sensitive to reasonable changes in both the overall model specification and to the set of instruments.The results strongly suggest that in corporate governance research, sensitivity analysis is essential, results should be interpreted cautiously, and ordinary least squares results should not be casually dismissed.

Book Board Composition Ownership Structure and Firm Performance

Download or read book Board Composition Ownership Structure and Firm Performance written by Santanu K. Ganguli and published by . This book was released on 2016 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explores the impact of board composition and ownership structure on firm performance of Indian firms from 2009-2013 in presence of certain unique statutory provisions relating to independent directors and limits on ownership concentration. The results show that after controlling for various firm and industry level parameters, both accounting performance and market performance of firms are positively impacted by ownership concentration and board size but not by board independence. We record a two-way relationship and 'non-linearity' between market performance and ownership concentration . Very low and very high concentration negatively impact firm performance, the former being attributable to 'tunneling' , and the latter to 'illiquidity' and 'information asymmetry' associated with sale of holding by insiders to bring down concentration to permissible statutory limits. Larger board size impacting performance positively indicates that plurality of views and representation of various insiders' interest group might enhance performance but Independence has no such role because it may just be a 'myth'

Book Ownership Structure Board Composition and the Market for Corporate Control in the UK

Download or read book Ownership Structure Board Composition and the Market for Corporate Control in the UK written by Charlie Weir and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the board composition and ownership structures of a sample of companies that have been acquired and those of a control sample that have not. We find significant governance differences between acquired firms and the control sample. Firms with the following characteristics were more likely to be acquired: they had the same person acting as CEO and chair, a higher proportion of non-executive directors, larger institutional shareholders and higher director shareholdings. An analysis of small firms also found evidence of higher CEO shareholdings. We also find that treating all take-overs as a single group leads to model mis-specification which does not identify the incentive effects of board and CEO shareholdings present in non-hostile acquisitions. These results are consistent with two agency-derived hypotheses, financial incentives and effective monitoring. We also find that targets exhibit lower growth potential but do not have worse accounting performance.

Book For Whom the Firm Toils

Download or read book For Whom the Firm Toils written by Sujit Sur and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Corporate Governance and Leadership

Download or read book Corporate Governance and Leadership written by Monique Cikaliuk and published by Cambridge University Press. This book was released on 2020-08-27 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Element deals with leadership and governance of corporations from the point of view of the board. We expand our understanding of board leadership by focusing on the modern company as a legal person comprised of a capital fund and the relationships among directors, shareholders, management and stakeholders. We propose a model which integrates insights from the fields of leadership and corporate governance and establishes a theoretical link illustrated by empirical findings in three intersections: team leadership on the board, the chair's leadership of the board, and strategic leadership by the board. We maintain this integrative model provides a powerful means to further an understanding of the board as the nexus of leadership and governance. We close this Element by identifying the new research directions that our integrative model opens up. We also identify the implications for practice for those who either serve on boards or provide support to them.

Book Handbook of Research on IPOs

Download or read book Handbook of Research on IPOs written by Mario Levis and published by Edward Elgar Publishing. This book was released on 2013-11-29 with total page 599 pages. Available in PDF, EPUB and Kindle. Book excerpt: The chapters offer some important new insights into issues that will be of interest not only to the academic community but also to professionals involved in the preparation, structure and execution of such transactions, market regulators, and private a

Book The SAGE Handbook of Family Business

Download or read book The SAGE Handbook of Family Business written by Leif Melin and published by SAGE. This book was released on 2013-11-15 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SAGE Handbook of Family Business captures the conceptual map and state-of-the-art thinking on family business - an area experiencing rapid global growth in research and education since the last three decades. Edited by the leading figures in family business studies, with contributions and editorial board support from the most prominent scholars in the field, this Handbook reflects on the development and current status of family enterprise research in terms of applied theories, methods, topics investigated, and perspectives on the field′s future. The SAGE Handbook of Family Business is divided into following six sections, allowing for ease of navigation while gaining a multi-dimensional perspective and understanding of the field. Part I: Theoretical perspectives in family business studies Part II: Major issues in family business studies Part III: Entrepreneurial and managerial aspects in family business studies Part IV: Behavioral and organizational aspects in family business studies Part V: Methods in use in family business studies Part VI: The future of the field of family business studies By including critical reflections and presenting possible alternative perspectives and theories, this Handbook contributes to the framing of future research on family enterprises around the world. It is an invaluable resource for current and future scholars interested in understanding the unique dynamics of family enterprises under the rubric of entrepreneurship, strategic management, organization theory, accounting, marketing or other related areas.

Book Ownership Structure and Board Composition

Download or read book Ownership Structure and Board Composition written by Jiatao Li and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patterns of corporate governance and control differ significantly across countries because of national differences in structures of ownership and composition of boards of directors. Based on agency theory, we examine the relationship between ownership structure and the composition of the board of directors of 390 large manufacturing firms based in Japan, Western Europe and the United States. In particular, we examine how ownership concentration, bank control and state ownership affect the percentage of outside directors on the corporate boards. The results show that, consistent with predictions of agency theory, ownership structure has significant effects on board composition.

Book Ownership Structure Board Composition and Dividend Policies Evidence from Saudi Arabia

Download or read book Ownership Structure Board Composition and Dividend Policies Evidence from Saudi Arabia written by Mohammed Soliman and published by . This book was released on 2013 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The opinions about the relative importance of different determinants of corporate dividend policies vary across both scholars and financial mangers. This study seeks to examine the effect of ownership structure and board of directors' composition on dividend policies in Saudi Arabia, using pooled cross-sectional observations from the listed Saudi firms for three years between 2006 and 2008. It is found that there is a significant positive association between institutional ownership, board size, firm performance, and both dividend decision and payout ratio. The results confirm that firms with higher earnings per share and a higher institutional ownership distribute higher levels of dividend. No significant association was found between other board composition factors and dividend decisions or ratios.

Book The Moderating Effect of CEO Power on the Board Compositionfirm Performance Relationship

Download or read book The Moderating Effect of CEO Power on the Board Compositionfirm Performance Relationship written by James G. Combs and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior studies of the relationship between the composition of boards of directors and firm performance offer equivocal results. Drawing on agency and power circulation theories, we attempt to reduce this equivocality by asserting that CEO power moderates the relationship. Specifically, an outside director dominated board is needed to check a powerful CEO, but monitoring by other executives provides sufficient constraints on CEOs with low power. We used event study methodology to test the effects of the interaction between board composition and CEO power on stock market reaction to 73 unexpected CEO deaths. We found support for our theorizing among two of three sources of CEO power. Thus, although regulatory trends increasingly support outside director dominated boards, our findings indicate that this may not always benefit shareholders and that CEO power should be considered when constructing boards.