Transparency and disclosure as an internal corporate governance mechanism and corporate performance: Egypt’s case

Hassouna, Dina; Ouda, Hassan; Hussainey, Khaled

doi:10.22495/cocv14i4c1art1

Cited by 17 publications

(3 citation statements)

References 46 publications

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“…Table 1 shows that CG has a positive but insignificant influence on both ROE and Tobin's Q of non-financial firms, which is consistent with prior studies by Hassouna et al. (2017) in Egypt, Braendle (2019) in Austria and Yagl and Unlu (2017) in Turkey.…”

Section: Empirical Results and Discussionsupporting

confidence: 88%

“…The direct effects of CG and CS on FP. Table 1 shows that CG has a positive but insignificant influence on both ROE and Tobin's Q of non-financial firms, which is consistent with prior studies by Hassouna et al (2017) in Egypt, Braendle (2019) in Austria and Yagl and Unlu (2017) in Turkey. These findings do not support our hypotheses H1a and H1b because of their insignificant effects.…”

Section: 12supporting

confidence: 88%

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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: Empirical Results and Discussionsupporting

confidence: 88%

Section: 12supporting

confidence: 88%

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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“…A good CG is commonly acknowledged to improve FP (Padachi et al 2017 ; Bhatt and Bhatt 2017 ; Sheaba Rani and Adhena 2017 ; Mansour et al 2022 ). Other researchers, such as Rajput and Joshi ( 2014 ) in India and Adegboye et al ( 2019 ) in Nigeria, find a negative connection between CG and FP, or no relationship by Hassouna et al ( 2017 ) in Egypt, and Braendle ( 2019 ) in Austria, or find mixed results by Tariq et al ( 2018 ) in Pakistan, Shao ( 2018 ) in China, Griffin et al ( 2018 ) in various countries, and Dao and Nguyen ( 2020 ) in Vietnam. In Mauritius, Appasamy et al .…”

Section: Literature Reviewmentioning

confidence: 94%

Corporate governance, capital structure, and firm performance: a panel VAR approach

Ronoowah

Seetanah

2022

SN Bus Econ

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This study aims to examine the interrelationships and interdependencies between corporate governance (CG), capital structure (CS), and firm performance (FP) of companies listed on the Stock Exchange of Mauritius from 2009 to 2019 along with a comparison between financial and non-financial firms. A panel vector autoregression (PVAR) approach is used in this study to determine the relationship dynamics between CG, CS and FP. The findings reveal a positive and significant bidirectional association between CS and FP, supporting the trade-off theory. The results also show that CG and FP jointly help to increase CS while CG and CS jointly boost the profitability of firms. A strong bidirectional relationship with varied signs between CG and CS is found only for financial firms. The results of the forecast error variance decomposition analysis support the selection of FP as the most endogenous variable. Robustness tests also support the findings. This study is the first to examine the dynamic and interdependent relationships using a PVAR model between CG, CS and FP that presents new contributions to the existing CG and CS literature with insights from an emerging economy.

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Corporate Governance Practices Affecting Performance: A Case Study of Malaysian Elderly Care Centres NGOs

Fadzlyn,

Isa,

Mohamad

2023

Contributions to Management Science

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Transparency and disclosure as an internal corporate governance mechanism and corporate performance: Egypt’s case

Cited by 17 publications

References 46 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

Corporate governance, capital structure, and firm performance: a panel VAR approach

Corporate Governance Practices Affecting Performance: A Case Study of Malaysian Elderly Care Centres NGOs

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