Internet disclosure and corporate performance: A case study of the international shipping industry

Ανδρικόπουλος, Ανδρέας; Merika, Anna; Triantafyllou, Anna; Merikas, Andreas

doi:10.1016/j.tra.2012.10.016

Cited by 31 publications

(47 citation statements)

References 45 publications

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“…It also appears that the larger the company size and the higher the proportion of fixed assets (ships) held by the firm, the greater the indebtedness of the company. The negative impact of profitability on the leverage of the shipping company in all other phases but the peak gives support to the pecking order theory, a finding reported by Tsionas et al (2012) and Andrikopoulos et al (2013) in relation to the shipping sector. Furthermore, our results indicate that ownership concentration affects negatively firm leverage in the shipping industry, a finding which allies with the results reported by Tsionas et al (2012), but affects positively and strongly firm leverage during the peak period and this is a contribution of the current study.…”

Section: Empirical Findings and Discussionsupporting

confidence: 62%

“…Businesses with highly concentrated ownership reduce agency costs between shareholders and managers, thus leading to easier equity issuances. As a result, a negative relationship between concentrated ownership and leverage is expected (see Tsionas, Merikas, & Merika, 2012;Andrikopoulos, Merika, Triantafyllou, & Merikas, 2013). It follows that firms with low concentration of ownership (higher agency costs) prefer more risky investments that may lead to higher returns, as creditors are the ones to assume losses in the event of default, thus pushing the cost of debt at higher levels.…”

Section: Determinants Of Capital Structurementioning

confidence: 99%

“…the incidence of a few major stockholders is ambiguous. On the one hand, major shareholders monitor efficiently their agents and reduce agency costs between managers and shareholders, allowing for easier equity issuances (Tsionas, Merikas, & Merika, 2012;Andrikopoulos, Merika, Triantafyllou, & Merikas, 2013). On the other hand, a high level of leverage is discouraging any potential acquisition towards the firm (Rajan & Zingales, 1995).…”

Section: Hypothesesmentioning

confidence: 99%

See 2 more Smart Citations

The relationship between business cycles and capital structure choice: The case of the international shipping industry

Merika

Theodoropoulou

Triantafyllou

et al. 2015

The Journal of Economic Asymmetries

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Section: Empirical Findings and Discussionsupporting

confidence: 62%

Section: Determinants Of Capital Structurementioning

confidence: 99%

Section: Hypothesesmentioning

confidence: 99%

See 1 more Smart Citation

The relationship between business cycles and capital structure choice: The case of the international shipping industry

Merika

Theodoropoulou

Triantafyllou

et al. 2015

The Journal of Economic Asymmetries

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“…These advantages make the IFR an increasingly preferred means of corporate communication. It also helps companies to overcome issues such as significant maintenance costs, information overload as well as trust and security (Andrikopoulos, Merika, Triantafyllou, & Merikas, 2013).…”

Section: Internet Financial Reporting (Ifr)mentioning

confidence: 99%

Corporate Ownership, Internet Penetration and Internet Financial Reporting: Evidence from the Gulf Cooperation Council Countries

Ariff¹,

Bin-Ghanem²,

Hashim³

2018

AJBA

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Manuscript type: Research paper. Research aims:This study aims to examine how the individual effect of company-level ownership structure and the joint-effect of company-level ownership structure with country-level Internet penetration, can impact on Internet Financial Reporting (IFR). Design/ Methodology/ Approach: An index consisting of 35 IFR items was used to collect information from 152 listed financial companies from the Gulf Cooperation Council (GCC) countries. These companies were from Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Data were analysed using regression analysis. Research findings:The findings imply that companies with high government and family ownerships have lower extent of IFR. High quality IFR is evident in companies located in countries with a strong Internet penetration. However, the association between corporate ownership structure and IFR is not influenced by the country's Internet penetration. Theoretical contributions/ Originality: Our study is the first crosscountry comparative analysis that utilises data from the GCC countries to explore the determinants of the IFR. This study incorporates company-level governance and country-level institutional factors which are relevant and unique in the context of the GCC to add to the existing evidence that had mainly concentrated on a single-country setting or the developed market. Practitioner/ Policy implications: The findings of this study, which are related to the negative impact of government and family ownership on IFR can be attributed to the regulators in the GCC countries. It is recommended that the GCC improve its enforcement of legal protection for shareholders so as to protect the minority shareholders' interests.Research limitation: Future cross-country analysis on IFR can focus on other emerging markets that differ from the GCC. In addition, these studies can consider other relevant company-level governance aspects such as managerial ownership and country-level institutional factors such as cyber security risks as variables.

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“…The usage of Internet as a channel for dissemination of the corporate information is a phenomenon that has experienced considerable growth during the recent years (Moradi et al, 2011;Andrikopoulos et al, 2013). The revolution of internet technology has increased the number of companies to disseminate their corporate information through website and the economy system has been digitalized (Shiri et al, 2013).…”

Section: Introductionmentioning

confidence: 99%

Internet Financial Reporting in Malaysia: Preparers’ and Users’ Perceptions

Khan¹

2015

Procedia - Social and Behavioral Sciences

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This research attempts to investigate the current state of the level of internet financial reporting (IFR) in Bursa Malaysia. The items in the dimensions are based on the perspective of overall preparers and users. Based on the research findings, the level of IFR started from 56.43 to 87.14 per cent. These outcomes make an incremental contribution to the existing literature by providing useful insights into our knowledge of current practice of IFR especially for emerging markets like Malaysia. The implications of the research findings and future research have been discussed.

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Internet disclosure and corporate performance: A case study of the international shipping industry

Cited by 31 publications

References 45 publications

The relationship between business cycles and capital structure choice: The case of the international shipping industry

The relationship between business cycles and capital structure choice: The case of the international shipping industry

Corporate Ownership, Internet Penetration and Internet Financial Reporting: Evidence from the Gulf Cooperation Council Countries

Internet Financial Reporting in Malaysia: Preparers’ and Users’ Perceptions

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