Corporate Governance and Tobin's <i>Q</i> as a Measure of Organizational Performance

Singh, Satwinder; Tabassum, Naeem; Darwish, Tamer K.; Batsakis, Georgios

doi:10.1111/1467-8551.12237

Cited by 210 publications

(212 citation statements)

References 120 publications

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“…This supports the dividend relevance theory (Gordon, 1963;Walter, 1963). BSZ is significant positively influenced by the firm performance at 1% (Dalton, Daily, Johnson, & Ellstrand, 1999;Lipton & Lorsch, 1992;S. Singh, Tabassum, Darwish, & Batsakis, 2018).…”

Section: Panel Regression Analysissupporting

confidence: 68%

Role of Ownership Concentration and Dividend Policy on Firm Performance

Murtaza

Noor-Ud-Din

Aguir

et al. 2020

SJOM

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Purpose- The main aim of this study is to determine the role of ownership concentration and dividend policy on the firm performance of chemical sector firms of Pakistan. Design/Methodology- This research used the secondary data collected from the annual reports of the companies listed at the Karachi Stock Exchange (KSE). However, inclusion criteria are the 26 listed firms from 2012 to 2017, giving a total of 156 observations. This study used the Generalized Least Squares Model. Findings- The findings reveal that ownership concentration has a significant positive association with firm financial performance. This stated that larger shareholders could attribute to the alignment of managerial incentives with shareholder interests. They also monitor the team very effectively and efficiently. The dividend policy has a significant positive relationship with ROA. Leverage and tangibility have a significant negative relationship with firm performance. Practical Implications- These results potentially can be relevant for policymakers and academic research as well as also helpful for managers and policymakers.

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Section: Panel Regression Analysissupporting

confidence: 68%

Role of Ownership Concentration and Dividend Policy on Firm Performance

Murtaza

Noor-Ud-Din

Aguir

et al. 2020

SJOM

View full text Add to dashboard Cite

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“…This support to the dividend relevance theory (Gordon, 1963;Walter, 1963). BSZ is significant positively influenced on firm performance at 1% (Dalton, Daily, Johnson, & Ellstrand, 1999;Lipton & Lorsch, 1992;S. Singh, Tabassum, Darwish, & Batsakis, 2018).…”

Section: 3-panel Regression Analysissupporting

confidence: 54%

Ownership Concentration, Dividend Policy and Firm Performance in Pakistan

Aguir¹

2019

RJFA

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Data is drawing from a sample of Chemical firms listed at Karachi Stock Exchange of Pakistan over the period 2002-2017, this paper investigates the relationship between ownership concentration and dividend policy on firm financial performance. Using panel data analysis, the evidence is found to support the assumption of a significant relationship between ownership concentration and dividend policy on firm financial performance. The findings reveal that ownership concentration has a significant positive association with firm financial performance. This stated that larger shareholders can attribute to the alignment of managerial incentives with shareholder interests. They also monitor the team very effectively and efficiently. Dividend policy has a significant positive relationship with ROA. Leverage and Tangibility have a significant negative relationship with financial performance. Board size also has a significant positive impact on firm performance. These results potentially can be relevant for policymakers and academic research.

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“…So if dMTBV is greater than zero investors have faith in company's future, if not they think that the company is going to face difficulties. A similar approach is used by Singh, Tabassum, Darwish, and Batsakis (2018) and Erickson and Whited (2012) to providing robustness towards to an unbalanced panel-data and to address specific autocorrelation.…”

Section: Methodsmentioning

confidence: 99%

The Impact of Esg Factors on Market Value of Companies From Travel and Tourism Industry

Ionescu

Firoiu

Pîrvu

et al. 2019

Technological and Economic Development of Economy

104

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The aim of this paper is to investigate the relationship between environmental, social, and governance (ESG) factors and firm market value for the companies from travel and tourism industry and, in the same time, to investigates the question if the association between good ESG scores for travel and tourism companies and their market value can be used as a performance predictor. The impact of extra-financial ESG performance on market value of the companies was estimated using the modified version of the Ohlson (1995) model, based on a sample of 73 listed companies, worldwide distributed, during the 2010–2015 period. The overall results of this research are consistent with the value enhancing theory (as opposed with the shareholder expense theory). From the ESG factors, the governance factor seems to have the most important influence on the market value of the selected companies, regardless of the geographic region where they are located. Thus, our findings provide new insights into the influence of each ESG factor on the market value of the companies, providing a useful tool for stakeholders to measure economic impact but also for use as a predictor of economic performance.

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Corporate Governance and Tobin's Q as a Measure of Organizational Performance

Cited by 210 publications

References 120 publications

Role of Ownership Concentration and Dividend Policy on Firm Performance

Role of Ownership Concentration and Dividend Policy on Firm Performance

Ownership Concentration, Dividend Policy and Firm Performance in Pakistan

The Impact of Esg Factors on Market Value of Companies From Travel and Tourism Industry

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