Board independence, investment opportunity set and performance of South African firms

Muniandy, Balachandran; Hillier, John

doi:10.1016/j.pacfin.2014.11.003

Cited by 53 publications

(46 citation statements)

References 63 publications

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“…However, the effectiveness of the board of directors is tied to its independence, both in relation to the controller and on the management itself (Muniandy & Hillier, 2015). In general, independent directors, i.e.…”

Section: Corporate Governancementioning

confidence: 99%

Efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas

Ferreira

Vicente

2020

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O conselho de administração é um importante mecanismo interno de governança corporativa, já que tem como função primordial monitorar as ações da diretoria executiva, o que reduz possíveis falhas gerenciais. Nesse sentido, este estudo objetiva verificar o efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas no período entre 2010 e 2018. Os dados foram analisados por meio de regressões múltipla e quantílica e os resultados apontaram que a independência, a dualidade de papéis e o tamanho do conselho de administração afetam positivamente o montante de caixa retido pelas companhias abertas.

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Section: Corporate Governancementioning

confidence: 99%

Efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas

Ferreira

Vicente

2020

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“…More so, there is little or no consideration at all given to the influence that corporate governance has on SMEs' competitiveness and performance particularly in the Gauteng Province. In reality, much literature has dwelt heavily on dominant firms because of the misapprehension that corporate governance is relevant for just the superior firms that struggle with the agency problem (Kim & Lu 2013;Mangena & Chamisa 2008;Molokwu, Barreria & Urban 2013;Muniandy & Hillier 2015;Ntim, Lindop & Thomas 2013). Nevertheless, corporate governance might be of high significance also to the underrated SMEs, operated by a sole proprietor or owner who also acts as the manager and director (Ansong 2015).…”

Section: Introductionmentioning

confidence: 99%

The impact of corporate governance on firm competitiveness and performance of small and medium enterprises in South Africa: A case of small and medium enterprises in Vanderbijlpark

2017

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Orientation: Corporate governance adoption and compliance are an issue augmenting in importance recently and have been extended to business enterprises of any size including small and medium enterprises (SMEs).Research purpose: This study seeks to examine the impact of corporate governance adoption on the firm competitiveness and performance of SMEs in Vanderbijlpark.Research design, approach and method: The study employs a cross-sectional research design, which employed quantitative methods. One hundred fifty-two SME owners or managers were selected from Vanderbijlpark in Gauteng, South Africa. The collected data were analysed using a structural equation modelling system by using Smart PLS software.Main findings: The principal findings of this study revealed that the implementation of corporate governance by SMEs significantly and positively affected their competitiveness and performance.Practical and managerial implications: The paper provided practical implications and made some recommendations.Contribution or value-added: This article bridges the gap between theory and practice because it has both an economic and commercial impact in practice. It can be used in influencing public policy, teaching and research (because it contributes to the body of knowledge, particularly regarding SME corporate governance in emerging markets). An important aspect of this article is that it gives a framework for additional similar studies in other locations within emerging markets to test the generalisability of the findings. For teaching purposes, it provides a template for how to assess the link that exists between corporate governance and SME performance. Lastly, the article gives a unique empirical analysis of the relationship that exists between corporate governance compliance and performance of firms in South Africa, and thereby giving a valid contribution to corporate governance literature.

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“…(2013) study a sample of 50 large Chinese banks; find that the proportion of independent directors has a significant impact on both bank performance and asset quality. Muniandy & Hillier (2015) examine the impact of board independence on firm performance using a sample of 151 South African firms and find a positive relationship between firm performance and independent directorship. Liu et al (2015) conclude that independent directors have an overall positive effect on firm operating performance in China.…”

Section: Literature Review On Independence Of Directorsmentioning

confidence: 99%

Corporate Governance Practices and Bank Performance: Evidence from Indian Banks

Brahmaiah

2020

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The study examines the corporate governance practices and analyzes the role of the board characteristics (size of the board, the composition of the board, and functioning of the board) on the performance and asset quality of banks. We use a sample of 34 commercial banks consisting of 19 public sector banks and 15 private sector banks from 2009 to 2018 accounting for 93 percent of the total banking industry in India. The study finds that busy directors and the number of meetings have a positive significance on bank performance. The percentage of independent directors and the percentage of busy directors influence a significant negative relationship on the net non-performing assets ratio. The board size and number of meetings are associated negatively with Tobin's Q significantly and the percentage of busy directors is a significantly positive impact on Tobin's Q. The board size has a significantly negative impact on bank performance. The research findings provide some insights into corporate governance to the RBI for considering appropriate policy guidelines on corporate governance in the banking industry in India. The paper adds to the existing literature on corporate governance mechanisms and banking industry performance.

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Board independence, investment opportunity set and performance of South African firms

Cited by 53 publications

References 63 publications

Efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas

Efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas

The impact of corporate governance on firm competitiveness and performance of small and medium enterprises in South Africa: A case of small and medium enterprises in Vanderbijlpark

Corporate Governance Practices and Bank Performance: Evidence from Indian Banks

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