Complex Pyramid Structure, Judicial Efficiency and Firm Performance A Comparative Analysis of Chinese and Pakistani Listed Companies

Shah, Muhammad Hashim; Xiao, Zuo Ping; Abdullah,; Quresh, Shakir

doi:10.2139/ssrn.3319269

Cited by 3 publications

(2 citation statements)

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“…Several indicators used to measure the efficiency of the judicial system of a nation are captured under “enforcing contracts”. Some of the indicators are: the time in days spent in resolving a judicial case from the point of instituting the case until implementing the final decision by a court (Wang, Wang & Li, 2014; Shah, Shah, Smith & Labianca, 2017; Shah, Xiao & Quresh, 2019); the number of procedures followed to solve a case from the point of case initiation until the decision is implemented by the court (Shah, Shah, Smith & Labianca, 2017); enforcement of judgment days; attorney fees; court fees; enforcement fees; quality of judicial process, court structure and proceedings; cost as a percentage of claim, among others. Following Wang, Wang and Li (2014) and Shah, Shah, Smith and Labianca (2017), we measure judicial efficiency as cost as a percentage of claim.…”

Section: Methodsmentioning

confidence: 99%

Effect of board gender diversity on the financial performance of microfinance institutions: Does judicial efficiency matter?

Sarpong‐Danquah

Adusei

Frimpong

2022

Ann Public Coop Econ

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The impact of board gender diversity on the financial performance of firms is not known. This is because empirical investigations have yielded inconclusive outcomes. This study engages data from 408 microfinance institutions (MFIs) covering the period 2010-2018 from the six microfinance regions to investigate this impact using the Least Squares Dummy Variable (LSDV) and the System Generalized Method of Moments (SYS-GMM) estimation techniques. The study also explores whether judicial efficiency exerts any significant effect on the board gender diversity-financial performance nexus. The study observes that board gender diversity exhibits a strong negative effect on the financial performance of MFIs. The study also observes that the effect of board gender diversity on the financial performance of MFIs escalates in the presence of judicial inefficiency. The study, therefore, unveils the judicial system as a channel through which gender diversity drives the financial performance of MFIs negatively.

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Section: Methodsmentioning

confidence: 99%

Effect of board gender diversity on the financial performance of microfinance institutions: Does judicial efficiency matter?

Sarpong‐Danquah

Adusei

Frimpong

2022

Ann Public Coop Econ

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“…Corporate governance is treated as a basic element in developing countries. As corporate governance code of Pakistan are determined by the Security and Exchange Commission of Pakistan (SECP) in March 2002 (Kazi, Arain, & Sahetiya, 2018) and stated that ownership structure and board characteristics are essential elements in firm performance in the corporate governance perspectives (Shah, Xiao, & Quresh, 2019). Firm ownership and management are considered primary indicators which can be helpful in controlling and monitoring effectively the plans, authority control, resource allocation and many other indicators which are useful for firm performance (Carney, 2005; Daily, Dalton, & Cannella Jr, 2003; Daspit, Chrisman, Sharma, Pearson, & Mahto, 2018).…”

Section: Introductionmentioning

confidence: 99%

Do ownership and board characteristics enhance firm performance? A corporate governance perspective

Murtaza

Habib

Khan

2020

Journal of Public Affairs

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The main aim of the current study is to examine the relationship of ownership and board characteristics with firm performance of Pakistan non‐financial firms. This study employed panel data and collected from the annual reports of Pakistan for the period of 2010–2017 and used the regression model. The findings of this study state that the managerial ownership and foreign ownership have a significant positive impact on firm performance measured by market share. Duality has a significant negative and board independent is negative but not significant impact. Board size also has a significant positive relationship with firm performance. The good corporate governance is important which reduce the agency conflicts and enhance the stakeholder's interest. This study explores the link of ownership and board characteristics with firm performance examined by market share. The findings of this study will be helpful to the stakeholders, policymakers, government and practitioners.

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Role of Ownership Concentration and Dividend Policy on Firm Performance

Murtaza

Noor-Ud-Din

Aguir

et al. 2020

SJOM

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Purpose- The main aim of this study is to determine the role of ownership concentration and dividend policy on the firm performance of chemical sector firms of Pakistan. Design/Methodology- This research used the secondary data collected from the annual reports of the companies listed at the Karachi Stock Exchange (KSE). However, inclusion criteria are the 26 listed firms from 2012 to 2017, giving a total of 156 observations. This study used the Generalized Least Squares Model. Findings- The findings reveal that ownership concentration has a significant positive association with firm financial performance. This stated that larger shareholders could attribute to the alignment of managerial incentives with shareholder interests. They also monitor the team very effectively and efficiently. The dividend policy has a significant positive relationship with ROA. Leverage and tangibility have a significant negative relationship with firm performance. Practical Implications- These results potentially can be relevant for policymakers and academic research as well as also helpful for managers and policymakers.

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Complex Pyramid Structure, Judicial Efficiency and Firm Performance A Comparative Analysis of Chinese and Pakistani Listed Companies

Cited by 3 publications

References 0 publications

Effect of board gender diversity on the financial performance of microfinance institutions: Does judicial efficiency matter?

Effect of board gender diversity on the financial performance of microfinance institutions: Does judicial efficiency matter?

Do ownership and board characteristics enhance firm performance? A corporate governance perspective

Role of Ownership Concentration and Dividend Policy on Firm Performance

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