Sound practices of corporate governance help firms to lift their performance and bring in investors" confidence while enabling shareholders" rights protection, qualifying the legal requirements and spotlight the vast public image about how they are operating their business. Most of the previous literature on agency theory in Pakistan has demonstrated connection among ownership structure on firm performance, value and profitability. This study extends the literature by proposing the effect of change in leverage & insider equity ownership on agency cost mitigation. Proxy is used to measure agency cost: Expense ratio: Operating expense / annual sales. We applied "Fixed effect" method on sample of 41 non-financial firms from four economic groups listed in Pakistan Stock Exchange from the period of
Sustainable Development Goals (SDGs) are important phenomena in public administration and many reforms have been introduced in Pakistan to ensure the achievement of SDGs committed by the political leaders. This study targets SGD 11 that relates to sustainable urban development through effective municipal corporations. For this purpose, the study explores the HR practices of public organizations operating under the Lahore Municipal Corporation and explains the institutional complexity of these practices. This complexity arises from the lack of implementation of new HR practices that are at odds with the prevailing bureaucratic logic. The study supports the argument of the institutional logic perspective that multiple institutional logics co-exist in organizations resulting in contrasting and contradictory practices.
The objective of this study is to test the influence of value relevance of accounting information (EPS, BV, CF, ROE) on the market share value of non-financial sector of Pakistan Stock Exchange (PSX) listed firms in the Pre & Post IFRS implementation period and transition regime. The study analyses the effectiveness of the quality measures of accounting information for the future prediction of market stock price and for investors to make better decisions for future investment. The targeted population of this study is the non-financial sector of PSX. The targeted sample is based on 41 non-financial public listed companies of PSX. The sample is based on those reported companies whose data is consecutively available for 18 years from 2001 to 2018. This study period has been chosen because this period covers the Pre and Post IFRS application period of Pakistan’s firms. The panel data and Ohlson (1995) price model are applied in the study. The findings conclude that the R-Square value of GLS analysis for post IFRS and Transition period is higher than pre-IFRS. It indicates that the Post IFRS application and transition regime periods indicate the quality measure of value relevant accounting information than the Pre IFRS application period. These both Post IFRS application period and transition regime show more valuable accounting measures for listed non-financial firms of PSX. This study concluded that the concurrent period of IFRS standards for non-financial listed firms impacts the value relevant accounting information to describe market share value.
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