Do effective audit committees, gender-diverse boards, and corruption controls influence the voluntary disclosures of Asian banks? The moderating role of directors’ experience

Hashmi, Muhammad Arsalan; Abdullah,; Ansari, Talat; Hasan, Muhammad Amin

doi:10.1080/23311975.2022.2135205

Cited by 7 publications

(9 citation statements)

References 63 publications

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“…This negative relationship is mainly due to higher interest expense, financial risk, and investors' perception of the firm's sustainability (Uddin et al,2023). The finding is consistent with existing literature (Danso et al,2021;Hashmi et al, 2022b). Furthermore, CR is found to be positively associated with FPR, suggesting that firms with higher CR have higher liquidity and a lower risk of bankruptcy, enabling them to operate more efficiently and maximize their profits (Eljelly, 2004).…”

Section: Impact Of Wcm On Fprsupporting

confidence: 85%

“…Furthermore, firm size (FSIZE), current ratio (CR), and leverage (LEV) are commonly used in the literature of corporate finance to examine their impact on FPR (Akoto et al, 2013;Hashmi et al, 2022b;Tufail and Khan, 2013). Specifically, FSIZE may have a positive or negative impact on FPR depending upon the type of industry (Storey, 1990).…”

Section: Size Lev Cr and Fpr Nexusmentioning

confidence: 99%

“…Lastly, three control variables-LEV, FSIZE, and CR-were included in the model to mitigate panel heterogeneity and obtain robust results. These variables have been extensively used in previous literature (Hashmi et al, 2022b;Ibhagui and Olokoyo, 2018;Lam and Lee, 2008). Descriptions and measurements of all variables are presented in Table 1.…”

Section: Explanatory and Moderating Variablesmentioning

confidence: 99%

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Re-Examining Working Capital Management and Firm Performance Nexus: Does Investment Policy Matter?

Hasan,

Sajid,

Ghouri

et al. 2023

J. Econ. Impact

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Financial crises and macroeconomic imbalances have recently posed serious challenges to firms operating in developing countries. Thus, firms require efficient working capital management (WCM) to remain profitable. The purpose of this study is to examine the impact of WCM on firm performance (FPR) of ‘Food & Personal Care Industry’ of Pakistan using balanced panel data of 22 listed firms for the period of 2006 to 2022. Further, the study estimates the moderating effects of investment policy (IP) on WCM- FPR relationship. The study has used return on assets to measure FPR, while WCM is measured by a comprehensive measure of cash conversion cycle (CCC) comprising accounts receivable period (ARP), accounts payable period (APP), and inventory period (ITP). The findings reveal that CCC and ITP have a significant negative association with FPR, suggesting shorter CCC and ITP increase FPR. However, ARP and APP are positively associated with FPR, suggesting efficient utilization of ACR and delay in payment bills may increase FPR. Moreover, the results show that IP negatively moderates the impact of all components (except APP) of WCM on FPR. These results imply that a conservative IP mitigates the adverse impact of liberal WCM practice on FPR. The study also discussed the useful implications for managers and policymakers along with limitations of the study in the conclusion section.

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Section: Impact Of Wcm On Fprsupporting

confidence: 85%

Section: Size Lev Cr and Fpr Nexusmentioning

confidence: 99%

Section: Explanatory and Moderating Variablesmentioning

confidence: 99%

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Re-Examining Working Capital Management and Firm Performance Nexus: Does Investment Policy Matter?

Hasan,

Sajid,

Ghouri

et al. 2023

J. Econ. Impact

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“…The study computes the portfolio beta using the principles provided by Fama and French (1992) for selected cement companies on the PSX from January 2016 to March 2022. Panel regression analysis provides better estimates than cross-sectional ones (Iqbal et al, 2023a;Hasan et al, 2022;Hashmi et al,2022). Furthermore, our methodology, based on Black (1972) and Fama and MacBeth (1973), incorporates regional adjustments and is tested using methods developed by Frankel (1982), supported by Bollerslev et al (1988).…”

Section: Methodsmentioning

confidence: 99%

Stock Returns and Risks: An Empirical Assessment Using Modified CAPM Approach

Uddin,

Hasan,

Sajid

et al. 2023

J. educ. soc. stud.

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Modern portfolio theory assists stakeholders in financial markets to optimize their portfolios to attain expected return at a specified level of risk and uncertainty. However, the conventional capital asset pricing model (CAPM), proposed by Sharpe (1964) and Lintner (1965), fails to accurately estimate the expected rate of return of stock equities due to the presence of external uncertainties, and rapid changes in macroeconomic dynamics. Therefore, this study has adopted a modified CAPM that incorporates additional factors besides beta to more accurately estimate the expected return of stock equities. It highlights these exposures by using time-varying beta CAPM, applied to the cement industry of Pakistan for the period from January 2016 to March 2022. The results show that the expected rate of return is very much close to risk free rate of return in the cement industry of Pakistan. Furthermore, the findings of the study confirm that the prediction of expected rate of return depends on variations in estimation techniques and data availability. Additionally, by introducing the concept of a reference portfolio and a market portfolio, the modified CAPM represents an improvement over conventional method. Moreover, by breaking down the beta deviations into long-term and short-term components, this new method allows for precise computation and simplifies the prediction of expected returns in both equity and portfolio investments. The findings of this study will be beneficial for investors, financial analyst, and portfolio-managers in the decision-making about portfolio investments.

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“…Recent research has identified board gender diversity as a key determinant of a firm's corporate social performance (Cruz et al, 2019). Despite the extensive research that has been done on gender and corruption (Dollar et al, 2001;Swamy et al, 2001;Wellalage et al, 2020;Hashmi et al, 2022), there is still no consensus on whether female directors are associated with low or high Female directors corruption. One set of influential scholarly research has long assumed that women are associated with higher ethical standards and behaviors (Esarey and Chirillo, 2013;Blanc et al, 2017) and that they are less corrupt than men (Dollar et al, 2001;Swamy et al, 2001).…”

Section: Introductionmentioning

confidence: 99%

Family control and corporate anti corruption disclosures: the moderating effect of female directors

Al-Okaily

2023

MEDAR

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Purpose This paper aims to examine the effect of family control on corporate anticorruption disclosures of UK publicly listed firms and whether female board directors moderate the latter relationship. Design/methodology/approach This paper uses Poisson regression analysis for a sample of 1,546 FTSE 350 firm-year observations. Weighted least squares and propensity score matching are then used to assess the robustness of the findings. Findings The results show that family ownership and involvement are negatively associated with anticorruption disclosures. The tests of moderation indicate that female directors decrease the negative effect of family control on anticorruption disclosures. Originality/value To the best of the researcher’s knowledge, this paper is the first to investigate the impact of family control on anticorruption disclosures while taking into consideration the moderating effect of female directors.

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Do effective audit committees, gender-diverse boards, and corruption controls influence the voluntary disclosures of Asian banks? The moderating role of directors’ experience

Cited by 7 publications

References 63 publications

Re-Examining Working Capital Management and Firm Performance Nexus: Does Investment Policy Matter?

Re-Examining Working Capital Management and Firm Performance Nexus: Does Investment Policy Matter?

Stock Returns and Risks: An Empirical Assessment Using Modified CAPM Approach

Family control and corporate anti corruption disclosures: the moderating effect of female directors

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