Corporate governance and capital structure in Latin America: empirical evidence

Junior, Dermeval Martins Borges

doi:10.1108/jcms-03-2022-0010

Cited by 7 publications

(7 citation statements)

References 47 publications

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“…In this context, CG stands out as a tool that facilitates the alignment of interests between the agent and the principal. There are grounds to believe that CG and CS are related (Borges J unior, 2022). This is because agency conflict is influenced by CG mechanisms, and these mechanisms are linked to choices concerning the composition of a firm's funding sources.…”

Section: Literature Reviewmentioning

confidence: 99%

The moderating and mediating effects of corporate governance and capital structure on firm performance: empirical evidence from an emerging market

Ronoowah¹,

Seetanah²

2023

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PurposeThis study aims to focus on the direct, mediating and moderating effects of corporate governance (CG) and capital structure (CS) in their relationships with firm performance (FP).Design/methodology/approachMultivariate panel data regression techniques are employed to analyse the direct, mediating and moderating impacts of the CG and CS on FP of 38 listed Mauritian non-financial companies from 2009 to 2019.FindingsThis study shows that CG has a positive but insignificant influence on return on equity (ROE) and Tobin's Q. CS has a significant negative impact on both ROE and Tobin's Q and supports the pecking order theory (POT). The interaction of CG and CS influences FP, but the strength of the moderating effects depends on the performance measure being used. Both CS and CG have no mediation effects in their relationship with FP measured by ROE and Tobin's Q.Practical implicationsThe results indicate that the combination of the high leverage ratio and good governance practices of companies can improve FP and increases investor confidence resulting in a positive reaction on their market share prices.Originality/valueThis paper contributes to the CG and CS literature by introducing a more precise and comprehensive research approach and is the first to attempt to extend CG and CS in their associations with FP by incorporating both CG and CS as profound moderator and mediator variables simultaneously in the same study.

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Section: Literature Reviewmentioning

confidence: 99%

The moderating and mediating effects of corporate governance and capital structure on firm performance: empirical evidence from an emerging market

Ronoowah¹,

Seetanah²

2023

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“…Governance is a set of mechanisms from internal and external companies with the aim of aligning the interests of managers and shareholders (Borges Júnior, 2022). The existence of a governance mechanism can reduce the level of agency conflict between shareholders and managers to increase control over company operations and management.…”

Section: Previous Study and Hypothesis Corporate Governancementioning

confidence: 99%

Does Corporate Governance, Liquidity, and Bank Size Affect the Efficiency of Sharia Banks in Indonesia?

Ghifar,

Zakariyya,

Tristianto

2023

JEBA

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Introduction: The aim of this research was carried out in order to show whether corporate governance, liquidity, and business size might impact the efficiency of an Islamic bank in Indonesia prior to the merger of three Islamic banks, namely BNI Syariah, BRI Syariah, and Bank Syariah Mandiri, and from 2016 to 2021. Methods: Sharia governance is measured using CEO duality proxies and board size, whereas liquidity is measured using DAR, bank size is calculated using the logarithm of total assets, and bank efficiency is measured using three proxies: managerial efficiency, expenses, and profits. The information was compiled from annual financial reports 2016–2021 of 14 Indonesian Islamic commercial banks. Multiple linear regression and testing of conventional hypotheses are used to process the data in SPSS 25. Results: The results of the hypothesis testing indicate that factors affecting management effectiveness are board size, CEO duality, bank size, and liquidity. Conclusion and suggestion: The observation period of the previous five years can be used in future studies to add measurement indicators to corporate governance factors. In order to acquire more varied results with distinct settings of bank efficiency between conventional banks and Islamic banks, study samples might be used that come from conventional banks in addition to these other choices.

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“…Some authors indicate that corporate governance is an essential factor for the success and sustainable performance of an organisation regardless of its size [33,34]; they also suggest that effective and quality governance can improve the productivity of organisations, provide an enabling environment for sustainable success, improve management efficiency, and reduce the adverse effects of economic shocks [35].…”

Section: Theoretical Background 21 Corporate Governancementioning

confidence: 99%

Governance and Corporate Management System Supported by Innovation, Technology, and Digital Transformation as a Driver of Change

Guerrero-Avendaño,

Nieto Bernal,

Luna Amaya

2023

Sustainability

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Governance and Corporate Management Systems have become key tools for the comprehensive management of organizations, which, when implemented, guarantee corporate success, which can materialize in obtaining corporate goals, strategic objectives, KPIs, and KRP. This paper is the product of research exercises where a Governance and Corporate Management System is exposed, supported by three main pillars: Technology Management, Innovation Management, and Digital Transformation, which we will call GCMS+ from now on. The work developed is based on a quasi-experimental longitudinal research methodology, in which three key phases are addressed; the first phase corresponds to the systematic review of the literature, which allows the identification of the key components of the proposed GCMS+ system. The second phase of the methodology focused on the modelling of the GCMS+ system, which visually and descriptively describes the structural components, flows, and control mechanisms. The third phase of the methodology focuses on the validation of the GCMS+ system proposed from the discussed literature and contrasting the position of the authors, which is identified through a conceptual discussion. In this case, it seeks to validate the structural elements of GCMS+, the constraints, adoption of good practices, integration of standards, adoption of principles, integration of drivers, strategic taxonomy, organizational structures, governance and management approach, as well as methodologies, roles, initiatives, metrics, and indicators.

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Corporate governance and capital structure in Latin America: empirical evidence

Cited by 7 publications

References 47 publications

The moderating and mediating effects of corporate governance and capital structure on firm performance: empirical evidence from an emerging market

The moderating and mediating effects of corporate governance and capital structure on firm performance: empirical evidence from an emerging market

Does Corporate Governance, Liquidity, and Bank Size Affect the Efficiency of Sharia Banks in Indonesia?

Governance and Corporate Management System Supported by Innovation, Technology, and Digital Transformation as a Driver of Change

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