The moderating effect of the board of directors on firm value and tax planning: Evidence from European listed firms

Ftouhi, Khaoula; Moez, Dabboussi

doi:10.1016/j.bir.2019.07.005

Cited by 60 publications

(53 citation statements)

References 71 publications

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“…Result presents a positive relationship between firm efficiency and Islamic firm value. This finding is in-line with some previous studies that supported our result (Khaoula & Moez, 2019;Kasmiati & Santosa, 2019;Sugiarto & Santosa, 2018). This suggests that they are controlled by managers who are deemed pursuing opportunistic goals.…”

Section: End Ofsupporting

confidence: 94%

The Moderating Role of Firm Size on Financial Characteristics and Islamic Firm Value at Indonesian Equity Market

Santosa

2020

Business: Theory and Practice

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This study aims to understand the moderating role of firm size on financial characteristics and Islamic firm value. Then study how the influence of firm size moderation on the relationship of financial characteristics and corporate governance with firm value. This study uses secondary data from financial statements and analyzed by the panel data method for six years. The sample selection is arranged by the purposive sampling method with Islamic index constituent population. Conclusion: leverage, profitability, and efficiency have a significant positive effect on Islamic firm value, but the liquidity and audit committee do not affect. Firm size moderators provide a reinforcing effect for all independent variables so that liquidity and audit committees have a positive effect on firm value. Implications: Islamic firm investors in the equity market should consider the crucial variable, namely firm size, in addition to firm and corporate governance characteristics. These conclusions provide important implications for managers and relevant authorities to enhance financial market information related to firm value and further attention to corporate governance mechanisms.

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Section: End Ofsupporting

confidence: 94%

The Moderating Role of Firm Size on Financial Characteristics and Islamic Firm Value at Indonesian Equity Market

Santosa

2020

Business: Theory and Practice

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“…Board gender diversity is one of the most important issues in corporate governance and there has been a great concern raised by regulatory bodies to ensure women's appearance on board (Lim et al , 2019). Increasing the number of female board members closely reflects the strong awareness of shareholders and offers benefits and additional knowledge (Khaoula and Moez, 2019). Moreover, diversity of companies brings new ideas that help in solving problems, improving strategic planning and new opinions and experience (Lim et al , 2019).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…Van der Walt and Ingley (2003) define board diversity as a combination of different qualities, characteristics and expertise of individual members in decision-making and other board processes. The Higgs report in the United Kingdom argues that diversity improves board efficiency and specially recommends that companies may benefit from including women on the board (Khaoula and Moez, 2019). Noticeably, Securities Commission Malaysia in its latest corporate governance code has directed companies that there must be 30% women appearance on corporate boards of large companies.…”

Section: Introductionmentioning

confidence: 99%

Do women on corporate boardrooms influence remuneration patterns and socially responsible practices? Malaysian evidence

Karim

2021

EDI

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PurposeThe prime objective of this study is to investigate the moderating influence of executive and independent female directors on the relationship between remuneration packages (CEO and executive director) and socially responsible practices (marketplace, environment, community, workplace and money spent on CSR) of 483 Malaysian listed firms during 2006–2017.Design/methodology/approachThe dynamic estimator, namely, system generalized method of moments (GMM) given by Blundell and Bond (1998) has been employed on the dataset to control dynamic endogeneity, unobserved heterogeneity and simultaneity problems.FindingsFindings indicate that there is a significant relationship between remuneration patterns of CEOs and executive directors and socially responsible activities. In the same way, executive board gender diversity significantly, whereas independent board gender diversity insignificantly moderates the remuneration and CSR nexus.Practical implicationsThis study is particularly significant for regulatory bodies of Malaysia, e.g. Securities Commission Malaysia, Bursa Malaysia, policy makers, investors and managers. For academia, this study fetches support from agency theory, stakeholder theory and upper echelons theory and presents integrated theoretical approach to be considered for future research.Originality/valueThis paper is unique in providing empirical evidence on the moderating effect of both executive and independent women directors on the relationship between remuneration patterns of CEOs and executive directors and independent CSR activities for the first time. Moreover, this study has sourced several theoretical and practical implications. And, the study employs dynamic estimator for precise and concrete results.

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“…An effective board of directors composed of independent (neutral) members with ample experience and repute would effectively safeguard the interests of all stakeholders (Khaoula & Moez, 2019). Due to their effective monitoring, the boards in group firms are expected to control expropriation and rules violation-oriented TA activities and shall positively influence value of firms (Adams & Ferreira, 2007;and Masulis & Mobbs, 2011).…”

Section: Board Independence Ta and Value Of Firmmentioning

confidence: 99%

Tax Aggressiveness, Tunneling and Firm Value: Interactive Effect of Corporate Governance in Business Groups

Ullah

Shah

Khan

2021

JAEBS

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This study extends the literature on tax aggressiveness (TA) from agency perspectives in the rarely discussed case of group firms. More specifically, the study investigates the relationship between firms TA, tunnelling and value of firm. Moreover, the study also investigates the impact of the moderating role of corporate governance (CG) in counterfeiting the conflicts of interests in group firms. For this purpose, sample data of 160 non-financial Pakistani firms belonging to groups for the period from 2009 to 2018 is analyzed through two Stages Least Square Regression (2SLS) models. The findings reveal that tunneling, group ownership and managerial ownership show direct association with TA. While CG agents, board and audit committee independence and external audit quality exhibits an indirect relationship with TA. Moreover, the tunneling-related TA has a negative effect on the firm value. However, the estimated interaction effects show that CG mitigates this negative relationship between the tunneling-related TA and firm value. Thus, good CG ameliorates the expropriations by the controlling shareholders and TA becomes a value enhancing activity in business groups. Keywords: Tax Aggressiveness, Firm Value, Business Groups, Corporate Governance, External Audit Quality

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The moderating effect of the board of directors on firm value and tax planning: Evidence from European listed firms

Cited by 60 publications

References 71 publications

The Moderating Role of Firm Size on Financial Characteristics and Islamic Firm Value at Indonesian Equity Market

The Moderating Role of Firm Size on Financial Characteristics and Islamic Firm Value at Indonesian Equity Market

Do women on corporate boardrooms influence remuneration patterns and socially responsible practices? Malaysian evidence

Tax Aggressiveness, Tunneling and Firm Value: Interactive Effect of Corporate Governance in Business Groups

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