Does Managerial Behaviour Matter? Evidence from Emerging Economies

Aksar, Muhammad; Ahmed, Jaleel

doi:10.1177/09721509221109054

Cited by 4 publications

(3 citation statements)

References 65 publications

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“…Sdm is dummy variable, which represents the small and big firms, if size (Total assets) of a firm (i) at time period (t) is equal or above the average size (Average total assets) then 1 (big size) and 0 (Small size) otherwise. The generalized methods of moments (GMM) are applied in both scenario (Pakistan and UK) to test the hypothesis and GMM addresses the issue of endogenity (Busch & Lewandowski, 2018;Aksar & Ahmed, 2022).…”

Section: Methodsmentioning

confidence: 99%

An Empirical Investigation on Ownership Structure and Earnings management: Evidence from PSX and FTSE-350 Listed Firms

Hassan¹,

Aksar²,

Zahoor³

et al. 2023

JOSI

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The current research aims to highlight the impact of ownership structure on real earnings management by comparing the firms listed on Pakistan Stock Exchange and London Stock Exchange. The secondary data of 167 Pakistani and 233 UK listed firms is analysed from 2011-2019. The results obtained for both countries shows that ownership structure influences the real earnings management. The results also suggest that real earnings management practices are significantly different in big and small size firms. Further, the impact of ownership structure on real earnings management among the big and small sized firms is different. The results of the study are helpful to the policymakers in reducing the real earnings management. The limitations and future aspects are also elucidated comprehensively.

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Section: Methodsmentioning

confidence: 99%

An Empirical Investigation on Ownership Structure and Earnings management: Evidence from PSX and FTSE-350 Listed Firms

Hassan¹,

Aksar²,

Zahoor³

et al. 2023

JOSI

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show abstract

“…This new variable (interaction term) become the part of the research equation for examining moderating effect (Muller et al , 2005). After that this new variable (interaction term) made part of equation and then applied empirical technique “GMM” for examination of moderation effect (Aksar and Ahmed, 2022). Regressed equation by using above mention regression technique and found moderation exist as interaction term has positive significance result for both the economies.…”

Section: Methodsmentioning

confidence: 99%

Environmental disclosure and idiosyncratic risk; exploring the role of governance

Khan

Iqbal²

2022

SRJ

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Purpose This study aims to explore the moderating role of corporate governance index between environmental disclosure and idiosyncratic risk. Design/methodology/approach Governance index constructed on the basis of principle component analysis (PCA) that comprised Board Duality (BD), Board Size (BS), Board Independent (BI) and Board Meeting (BM). Collected panel data of 103 nonfinancial companies listed in stock exchanges of Pakistan and India for the period 2013–2020. To address the issue of endogeneity, this study used generalized methods of moments (GMM). Findings This study revealed that corporate governance index negatively modifies the relationship between environmental disclosure and idiosyncratic risk for both Pakistan and India scenario. Findings of the study also disclosed environmental disclosure has positive significant impact on idiosyncratic risk in case of Pakistan, whereas it has a negative significant impact in case of India. Research limitations/implications The major limitation of the study is availability of environmental disclosure data, future researchers may extend time period and add other emerging economies for analysis. Moreover, assumption of objectivity in the evaluation of environmental disclosure is another limitation of the study. Future research should examine the standard of environmental actions that businesses declare. This study used CAPM model to measure idiosyncratic risk, and future studies suggest measure idiosyncratic risk by using Fama & French four and five factors model for better results and robustness. Practical implications Study provides guidelines to investors for choosing stock for investment and also helpful for management to minimize agency problems through better governance mechanisms. Furthermore, study has deep implications for CEOs, portfolio managers, researchers and academics. Originality/value The study intended to empirically examine the moderation of Corporate Governance Index between the relationship of Environmental Disclosure and Idiosyncratic Risk.

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“…The natural log of the total assets is used to calculate the company size; the sale growth and leverage ratios are used to calculate the firm growth. To control endogeneity and reverse causation, researchers have used a two-stage model and a two-step system dynamic GMM methodology (Shin et al, 2020;Aksar, Ahmed, 2022). The correlation analysis reveals little correlation between any explanatory variables, suggesting that multi-correlation is not a severe problem.…”

Section: Modelmentioning

confidence: 99%

Impact of Corporate Social Responsibility on Dividend Payout Mediated by Accounting Conservatism

Javaid

2023

JDSS

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The purpose of the study is to pinpoint the mediating effect of Accounting Conservatism (AC) in the relationship between Corporate Social Responsibility (CSR) and Dividend Payout (DP) empirically. By reviewing the past studies and literature, the hypotheses have been developed. The data has been gathered from 188 companies listed on the stock exchanges of Pakistan and India. The period of the data is 11 years (2010)(2011)(2012)(2013)(2014)(2015)(2016)(2017)(2018)(2019)(2020). The results show that the prerequisites for the mediating function of AC in the link between CSR and DP are met, and AC is partially mediating in this relationship. This relationship was studied using a generalised mixed model (GMM) to address the issue of endogeneity and unobserved heterogeneity. The results of the study are helpful for the policymakers to formulate policies regarding CSR to enhance the shareholder's wealth.

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Does Managerial Behaviour Matter? Evidence from Emerging Economies

Cited by 4 publications

References 65 publications

An Empirical Investigation on Ownership Structure and Earnings management: Evidence from PSX and FTSE-350 Listed Firms

An Empirical Investigation on Ownership Structure and Earnings management: Evidence from PSX and FTSE-350 Listed Firms

Environmental disclosure and idiosyncratic risk; exploring the role of governance

Impact of Corporate Social Responsibility on Dividend Payout Mediated by Accounting Conservatism

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