Does ownership structure affect firm performance? Evidence from Nigerian listed companies

Tsegba, Ioraver N.; Achua, Joseph K.

doi:10.22495/cocv9i1c5art2

Cited by 8 publications

(6 citation statements)

References 23 publications

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“…The study indicated that managerial ownership had no discernible impact on firm value using OLS regression analysis. The research result is supported by many other researchers, namely, Switzer and Tangb (2009), Tsegba and Ezi-Herbert (2011), Liang et al (2012) etc. In addition, some other researchers, like Siala et al (2009) and Noor (2012), did not find any significant relation between these two variables.…”

Section: Corporate Governance and Firm Valuesupporting

confidence: 74%

Corporate governance and firm value: Bangladeshi manufacturing industry perspective

Sarker,

Hossain

2023

PRR

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PurposeThe study aims to investigate the influence of corporate governance practices on enhancing firm value in manufacturing industries in Bangladesh.Design/methodology/approachThe study sample consists of 131 companies from 10 manufacturing industries listed in Dhaka stock exchange (DSE). Using the multiple regression method, the study analyzed 1,193 firm-year observations from 2012 to 2021.FindingsThe outcome reveals that managerial ownership, foreign ownership, ownership concentration, board size, board independence, board diligence and auditor quality have a significant positive influence on firm value. In contrast, audit committee size has no significant influence on firm value.Originality/valueThe practical implications of the current study demonstrated that good corporate governance creates value and must be invigorated for the interest of all stakeholders. Policymakers should formulate specific guidelines regarding firms' ownership structure and audit quality issues.

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Section: Corporate Governance and Firm Valuesupporting

confidence: 74%

Corporate governance and firm value: Bangladeshi manufacturing industry perspective

Sarker,

Hossain

2023

PRR

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“…These attributes provide the bureaucratic insularity needed to obviate (a) the manifestation of bureaucratic opportunism, and (b) the adverse consequences of the separation of ownership and control in the privatized firm. Put simply, core investors are those that have or must-have, the entrepreneurial bent, mechanisms, and incentives to own and manage the privatized enterprises (Tsegba and Herbert, 2011). and customers.…”

Section: Discussionmentioning

confidence: 99%

Corporate governance disclosure and corporate performance of Nigerian banks

Herbert

Agwor

2021

jrems

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Corporate disclosure is a key mechanism of corporate governance. This study examined the effect of corporate governance disclosure (CGD) on the financial performance of commercial banks listed on the Nigeria Stock Exchange. Based on the provisions of the Code of Corporate Governance for Public Companies in Nigeria, 2011 and the Code of Corporate Governance for Banks and Discount Houses 2014, the study developed a disclosure checklist and employed content analysis technique to extract corporate governance (CG) from 78 annual reports of 13 Nigerian commercial banks from 2011 to 2016. The study trichotomized CGD into those relating to the board of directors, risk framework, and whistleblowing policy. The results of the hypothesized relationships showed a positive and significant association between CGD and the banks' financial performance, with a positive effect of CGD on the board of directors and whistleblowing policy. However, the study did not find a significant association between CGD of risk management framework and the banks' financial performance. This study contributes to the body of knowledge by providing a broader understanding of the effect of CGD on banks' financial performance. The development of a disclosure checklist based on the regulators’ codes of corporate governance is a useful addition to the literature.

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“…Some previous studies also reveal that there is a significant relation between ownership concentration and performance (Shleifer and Vishny, 1997;Mang"unyi, 2011;Pivovarsky, 2003;Sanda, Mikailu and Garba, 2005;Joh, 2002;Xu and Wang, 1997). But some other previous studies disclose an absence of relation between ownership concentration and performance (Demsetz and Lehn, 1985;Shan and McIver, 2011;Sá nchez-Ballesta and Garcí a-Meca, 2007;Najjar, 2012;Tsegba and Ezi-Herbert, 2011). The relationship between ownership concentration and firm performance is still inconclusive.…”

Section: Statement Of the Problemmentioning

confidence: 95%

A Study on Ownership Structure and Financial Performance of Listed Beverage Food and Tobacco Companies in Sri Lanka

Balagobei

Velnampy²

2017

ijafr

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The relevant literature suggests that ownership structure is one of the main corporate governance mechanisms influencing the scope of financial performance. The aim of this study is to investigate the relationship between ownership structure and financial performance of listed beverage food and tobacco companies for the period of 2010-2015. This study also examines the impact of ownership structure on financial performance. The sample consists of 10 listed beverage food and tobacco companies in Sri Lanka. In this study, data was collected from secondary sources and hypotheses are examined by using Pearson"s correlation and regression analysis. The results reveal that ownership concentration and foreign ownership structure are positively correlated with financial performance of listed beverage food and tobacco companies while institutional ownership structure isn"t significantly correlated with financial performance. It is also found that there is a significant impact of foreign ownership structure on financial performance. Higher the foreign ownership structure in listed beverage food and tobacco companies, the higher the financial performance which is preferable for the shareholders and it improves the wealth of companies.

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Does ownership structure affect firm performance? Evidence from Nigerian listed companies

Cited by 8 publications

References 23 publications

Corporate governance and firm value: Bangladeshi manufacturing industry perspective

Corporate governance and firm value: Bangladeshi manufacturing industry perspective

Corporate governance disclosure and corporate performance of Nigerian banks

A Study on Ownership Structure and Financial Performance of Listed Beverage Food and Tobacco Companies in Sri Lanka

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