Internal corporate governance mechanisms as drivers of firm value: panel data evidence for Chilean firms

Hoffmann, Paolo Saona

doi:10.1007/s11846-013-0115-3

Cited by 23 publications

(13 citation statements)

References 56 publications

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“…However, the company's dividends increase, the company's value also increases. This is in accordance with (Hoffmann's, 2014), where the value of companies tends to increase if the company increases its dividends. In general, if a company often provides dividends, investors will be interested in buying shares in the company.…”

Section: Resultssupporting

confidence: 87%

The Characteristics Of Users Derivative Company Towards The Company’s Value

Ekadjaja

2019

Jurnal Akuntansi

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The use of derivative instruments can be used to control financial risk to be able to drive an increase in company value. The contribution of this study is to seek the relationship between variables that can increase company value, then increasing the value of the company can achieve the company's goal of increasing shareholder prosperity. The population in this study are all companies listed in the Sharia Stock Index on the Indonesia Stock Exchange in 2014-2016. Multiple linear regression analysis is used to test the hypothesis. The result of the test showed that the Return On Asset and firm size variables have a significant positive effect on the firm value of derivative users. While capital expenditure and dividend yield showed that there is no significant effect on firm value and the leverage variable showed a significant negative effect on firm value.

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Section: Resultssupporting

confidence: 87%

The Characteristics Of Users Derivative Company Towards The Company’s Value

Ekadjaja

2019

Jurnal Akuntansi

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“…It is also more powerful in controlling unobservable heterogeneity and omitted variable bias (Campbell and Mínguez-Vera, 2007). Keeping in view the nature of data, fixed effects, random effects and pooled ordinary least square models have been applied to analyze the relationship (Andreas et al 2010;Hoffmann, 2013;Ararat et al, 2017) To be a part of the sample used in this study, the firms have to meet the following criteria:…”

Section: Corporate Governance Attributesmentioning

confidence: 99%

Impact of corporate governance attributes on cost of equity

Srivastava

Das

Pattanayak

2019

MAJ

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Purpose The purpose of this study is to construct a comprehensive Indian corporate governance index in light of the recently introduced Companies Act, 2013, which is further validated by analyzing its impact on the cost of equity of a firm. Design/methodology/approach Based on the hand-collected data from firms listed on S&P BSE 500 from 2001 to 2016, this index comprises seven equally weighted sub-indices, comprising a total of 43 corporate governance attributes. This index and the sub-indices have further been regressed with the cost of equity of a firm. Findings The results suggest a negative significant relationship between the overall corporate governance and the cost of equity. The study also suggests that among all the sub-indices, board composition predicts the cost of equity to a greater extent. Other than this, the audit committee sub-index has a negative significant association with the cost of equity. The findings imply that a well-governed firm enjoys ease of access to equity finance from the market. Originality/value The corporate governance index is based on the recent regulatory reforms introduced in India. The index, with certain changes suitable to the local context, can be applied to similar emerging economies as well. The causal relationship tested using this method is the first one done in India. This study adds to the domain of corporate governance literature with special focus on the construction of an index for an emerging economy.

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“…e) The limited number of MEGA companies, with a capitalization greater than 10 billion USD, which constitute the samples studied, may reduce the representativeness of the industry samples, creating the risk of inconsistent results. Some possible directions for future research could include the investigation of the relationship between financial statement factors, such as cost of sales, taxes and capital structure as shown by Hoffmann (2014), which may vary from company to company, in the deterministic, libertarian and compatibilist industries, and performance. Future research could also enhance our knowledge of the role that strategic choice and determinism play in determining organizations' internal environments, thus affecting, as the research has shown, performance indicators.…”

Section: Limitations and Future Directionsmentioning

confidence: 99%

A choice and inevitability framework in strategic management: empirical evidence of its real-life existence

2020

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In the context of strategic management, strategic choice and determinism are presented as two distinct planning approaches. When treated as two distinct variables, they are responsible for the creation of a framework of analysis, in which it is possible to identify the four different human agency philosophical ontological perspectives, of determinism, hard incompatibilism, libertarianism and compatibilism, each perspective characterized by different amounts of strategic choice and determinism. By drawing on the theoretical context of the aforementioned perspectives, we provide empirical evidence of their real-life existence. The strategic framework not only reduces theoretical fragmentation, but also provides a link between the philosophical debate on free will/determinism and strategic management and can help to reduce uncertainty in planning.

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Internal corporate governance mechanisms as drivers of firm value: panel data evidence for Chilean firms

Cited by 23 publications

References 56 publications

The Characteristics Of Users Derivative Company Towards The Company’s Value

The Characteristics Of Users Derivative Company Towards The Company’s Value

Impact of corporate governance attributes on cost of equity

A choice and inevitability framework in strategic management: empirical evidence of its real-life existence

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