Corporate Governance Disclosure and Ownership Concentration in Non-Financial Listed Firms in Kuwait Stock Exchange (KSE)

Al‐Saidi, Mejbel

doi:10.5539/ijef.v13n1p1

Cited by 2 publications

(1 citation statement)

References 41 publications

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“…This study uses a data set of manufacturing companies listed on the DSE for the years 2015-2019 to explore the hypotheses presented in the previous section. Since the nature of these businesses differs from businesses in other industrial sectors in terms of regulations, financial statement profitability measures, and liquidity assessment, all banks, insurance companies, and other financial institutions are excluded from this study (Zeitun & Tian, 2007;Pınar & Guluzar, 2010;Al-Saidi, 2020;and Soliman, 2013). Data concerned with companies" ownership concentration are gathered from Dhaka Stock Exchange (DSE); and board characteristics and firms" performance are taken from its published annual reports.…”

Section: Sample and Time Framementioning

confidence: 99%

Ownership Structure, Board Characteristics and Firm Performance: Evidence from Bangladesh

Salema¹

2023

IJEF

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Using a panel of listed manufacturing companies in Bangladesh, this paper intends to empirically assess the relationship between firm-level governance mechanisms and firm performance using an integrated theoretical framework. For this purpose, data has been compiled from Dhaka Stock Exchange (DSE); and published yearly annual reports of particular organizations. The empirical findings of this paper shed light on the impact of ownership structure and board characteristics on its firm’s performance measure by the accounting rate of the return on assets. Although these results are in line with the majority of the literature, this model can still be examined using other proxy measures of firm performance and/or more years of observation. Findings of this study can be useful to managers, investors, and regulators, especially those who want to change their company’s ownership structure and board composition to increase its performance on the stock market.

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Section: Sample and Time Framementioning

confidence: 99%

Ownership Structure, Board Characteristics and Firm Performance: Evidence from Bangladesh

Salema¹

2023

IJEF

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Demystifying the nexus between ownership structure and performance: A study of the emerging market

Debnath

Dey

Mazumdar

et al. 2022

CBSR

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The main aim of this research is to study the effect of ownership structure (OS) on corporate performance after the application of the Companies Act, 2013 considering fast-moving consumer goods (FMCG) sector firms listed on the Bombay Stock Exchange. This study applies the regression technique on panel data for five years, from FY 2015–2016 to FY 2019–2020. The study has used market-based performance (market capitalization) and accounting-based performance (return on capital employed) as dependent variables to investigate the impact of OS (ownership concentration (OC) and owners’ identity (OI)) on firm performance. The findings demonstrate that OC measured by Hirschman–Herfindahl index (HHI) proposed by Demsetz and Lehn (1985) has a significant positive impact on accounting and market-based performance. The comparative analysis revealed that OI has a more significant impact on market-based performance than accounting performance. The result further reported that promoter ownership, institutional ownership, and body corporate holdings positively correlate with market-based performance. This study contributes to the existing corporate governance literature by evaluating the nexus between OS and corporate performance in the Indian context and enriches the existing literature, which will be important input for regulators, investors, and policymakers to take an informed decision. The study symbolizes the emerging market, one of the most attractive destinations for cross-country capital investment where corporate ownership structure differs from developed markets.

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Corporate Governance Disclosure and Ownership Concentration in Non-Financial Listed Firms in Kuwait Stock Exchange (KSE)

Cited by 2 publications

References 41 publications

Ownership Structure, Board Characteristics and Firm Performance: Evidence from Bangladesh

Ownership Structure, Board Characteristics and Firm Performance: Evidence from Bangladesh

Demystifying the nexus between ownership structure and performance: A study of the emerging market

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