Maximizing Stockholder Wealth under Corporate Governance Mechanisms: Evidence from EGX

Wagdi, Osama; Salman, Eman; Abouzeid, Walid

doi:10.5539/ijef.v13n4p1

Cited by 5 publications

(4 citation statements)

References 37 publications

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“…According to EGX's governance practices, the board corresponds with the general meetings over the closure of the fiscal year and the allocation of financial incentives for executive management while focusing on the multiple functions for which it is responsible. It is able to discuss whether there is an effective executive management, as well as the interactions between executive management and shareholders (Wagdi et al, 2021).…”

Section: Enhancing the Composition And Effectiveness Of The Boardmentioning

confidence: 99%

An Integrated Framework of Good Corporate Governance in the Egyptian Stock Exchange

Samir Abdelaziz

2024

المجلة العلمية للدراسات التجارية والبيئية

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Section: Enhancing the Composition And Effectiveness Of The Boardmentioning

confidence: 99%

An Integrated Framework of Good Corporate Governance in the Egyptian Stock Exchange

Samir Abdelaziz

2024

المجلة العلمية للدراسات التجارية والبيئية

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Section: The Modified Value Added Intellectual Capital (Mvaic) Modelmentioning

confidence: 99%

“…The current study includes four control variables. Controlling variables was financial leverage (FL), corporate size (CZ), industry (I), and dividend policy (DP)(Fama and French, 2015;Wagdi et al, 2021).3. Sample and data analysis 3.1 Study sampleThe study sampled 24 corporates listed on the Egyptian Stock Exchange during the period 2014 to 2021, see in table no.…”

mentioning

confidence: 99%

The Impact of Intellectual Capital on Shareholders’ Wealth in Emerging Markets: Evidence from EGX

Wagdi

Albanna

2023

المجلة العلمیة للدراسات التجاریة والبیئیة

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Since the third industrial revolution, there have been changes in the sources of value creation for both companies and shareholders, which led to changes in the characteristics of the business environment not at the local level but also at the international level, which included emerging markets. Changes in the business environment have become faster with the Fourth Industrial Revolution. The study proposes an intellectual capital (IC) framework for shareholders' wealth maximization in emerging markets. It measured intellectual capital, within five control variables. Those variables are corporate financial leverage, size, industry and dividend policy. But Shareholders' wealth (dependent variable) was measured according to the modified value added intellectual capital (MVAIC) model. The study found contribution of IC to shareholders' wealth maximization according to value creation, taking into account the characteristics of the The Impact of Intellectual Capital on Shareholders' Wealth in Emerging … DR/ Osama Wagdi & DR/ Hatem Albanna ‫االول‬ ‫العدد‬ ‫عشر‬ ‫الرابع‬ ‫المجلد‬ -‫يناير‬ 0202 683 corporation. Based on inferential analysis, this explains the change in shareholders' wealth at the Egyptian corporation. Human capital efficiency (HCE), structural capital efficiency (SCE), capital employed efficiency (CEE) under financial leverage (FL) and corporate size (CZ), affected (97.9%) of value creation for shareholders in Egyptian exchange. Thus, this study extends the IC concept to cost, growth, risk and profitability for corporation in emerging markets.

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“…This is based on their ability to convert securities into cash without incurring any capital loss in the securities' value (Ma, Anderson, & Marshall, 2019). Maximizing corporation value is the primary purpose that management seeks to achieve under corporate governance (Wagdi, Salman, & Abouzeid, 2021). This is achieved by creating cash flows for the corporation…”

Section: Introductionmentioning

confidence: 99%

The mediating role of common stock's liquidity between ownership structure characteristics and corporation's value: Evidence from emerging markets

Wagdi,

Farouk,

Abdou

2023

IJAEFA

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The study investigated the mediating role of common stock liquidity between ownership structure characteristics and a corporation's value in emerging markets. A quantitative approach was adopted for seventy non-financial listed corporations from seven markets, including Brazil, Egypt, India, Russia, Saudi Arabia, South Africa, and Turkey. The data was collected annually from 2012 to 2021. After removing the outliers using winnowing at 1% and testing the stationary data, the study discovered that ownership structure characteristics and Common Stock’s Liquidity, under the control variables, determine the corporation's value in emerging markets by 69.35% according to panel data analysis but by 69.1% according to hierarchical regression analysis. Finally, the study found that Common Stock Liquidity played a significant mediating role, resulting in an average increase of 47.7% in interpreting the change in the value of the corporation in emerging markets. Therefore, common stock liquidity has a significant impact on the value of a corporation and should not be overlooked by top management and investors when making investment decisions in the stock exchange. Thus, common stock liquidity is one of the factors that create value for shareholders in emerging markets.

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Maximizing Stockholder Wealth under Corporate Governance Mechanisms: Evidence from EGX

Cited by 5 publications

References 37 publications

An Integrated Framework of Good Corporate Governance in the Egyptian Stock Exchange

An Integrated Framework of Good Corporate Governance in the Egyptian Stock Exchange

The Impact of Intellectual Capital on Shareholders’ Wealth in Emerging Markets: Evidence from EGX

The mediating role of common stock's liquidity between ownership structure characteristics and corporation's value: Evidence from emerging markets

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