The Influence of Institutional and Government Ownership on Firm Performance: Evidence from Kuwait

Alfaraih, Mishari M.; Alanezi, Faisal; Almujamed, Hesham I.

doi:10.5539/ibr.v5n10p192

Cited by 74 publications

(69 citation statements)

References 37 publications

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“…Hence, the study concludes that institutional ownership has positive and significant impact on return on assets. This result nevertheless corroborates the findings of Alfaraih et al [62], and Xu and Wang [47].…”

Section: The Specific Variables Discussionsupporting

confidence: 82%

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Effect of Corporate Governance Mechanisms on Financial Performance of Insurance Companies in Nigeria

Azutoru¹,

Obinne²,

Chinelo³

2017

JFA

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This study investigated the effect of corporate governance on financial performance of Insurance companies in Nigeria. The study adopted ex-post facto research design and panel data covering five year period from 2011-2015 for twenty insurance companies. The study examined a range of corporate governance mechanisms such as board size, board independence, executive directors' remuneration, non-executive directors' remuneration, directors' ownership, institutional ownership, foreign ownership and the study controlled the effect of the firm size using log of total assets. The Fixed effects model was used to evaluate the effect of these corporate governance mechanisms on financial performance of Nigerian insurance companies. The fixed effect econometric estimates showed that, board size and non-executive directors' remuneration have negative and significant effect on financial performance proxy by return on assets (ROA). While board independence, and institutional ownership indicated positive and significant impact on the financial performance as predicted by agency theory. However, contrary to theoretical predictions executive directors' remuneration, directors' ownership, and foreign ownership did not make significant impact on the financial performance of Nigerian insurance companies. However, the fixed effect econometric estimator employed in this study indicated that corporate governance mechanisms affects the financial performance of Insurance companies in Nigeria. Therefore, the study recommends among other things that the board be restructured to a manageable size, and suggested that a performance-based remuneration be design for the directors. In addition, more non-executive directors should be appointed to the corporate board to enhance the effectiveness of the board in aligning the interest of the stakeholders.

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Section: The Specific Variables Discussionsupporting

confidence: 82%

“…[58,59,60,61]. Alfaraih et al [62], Shleifer and Vishny, [50], and Xu and Wang [47] found a positive relationship between firms' value and institutional ownership.…”

Section: Institutional Ownershipmentioning

confidence: 99%

Effect of Corporate Governance Mechanisms on Financial Performance of Insurance Companies in Nigeria

Azutoru¹,

Obinne²,

Chinelo³

2017

JFA

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“…Agency theory explains the relationship between the principal (shareholder) and agent (management) (Jensen & Meckling, 1976). Selfish behavior by the management will cause conflicts of interest between management and shareholders which will lead to high agency costs (Alfaraih, Alanezi, & Almujamed, 2012). Institutional investors become the control mechanisms because they have the ability and incentives to monitor and discipline the managers of company (Ping & Wing, 2011).…”

Section: Institutional Ownership Structurementioning

confidence: 99%

Does institutional ownership moderate the effect of intellectual capital and company value?

Paputungan¹,

Subroto²,

Ghofar³

2020

IJRBS

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This study aims to empirically examine the influence of intellectual capital towards company value and also its influence while being moderated by institutional ownership. This study uses purposive sampling to determine samples from manufacturing companies listed in Indonesia Stock Exchange during the year of 2014–2018. The total sample obtained in this study is 301 from the 720 population of data throughout the research year. Data analysis techniques use multiple regression and moderated regression analysis (MRA) methods. The results of this study show that Intellectual Capital has a positive significant effect on company value while institutional ownership does not have a significant effect on moderating the influence of intellectual capital towards company value. The practical implication of this study is to provide information to managers or owners of public manufacturing companies and investors about the importance of intangible assets investment like intellectual capital as the competitive strategies to achieve more optimal company value, as well as for regulator to make clear regulations about the disclosures of intangible assets.

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“…Referring to previous studies [53][54][55][56][57] and from the perspective of securities companies, performance is affected by asset, capital structure, ownership structure, reputation, and internal governance. This paper applies total asset (BrokerSize) and debt to asset ratio (BrokerLeverage) to measure the firm's size and capital structure, employing the investment proportion of its top five shareholders (Top5Ownership) to measure ownership structure.…”

Section: Control Variablesmentioning

confidence: 99%

The Influence of Risk Culture on the Performance of International Joint-Venture Securities

Tang

Wang

et al. 2020

Sustainability

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With the development of economic globalization, culture is a key factor supporting the sustainability of foreign direct investment (FDI), especially for multinational enterprises. This paper takes the Chinese capital market as a sample and, combined with interviews with managers of international joint-venture securities (IJVS), finds that the culture of participants formed in developed and emerging capital market has a significant impact on the performance of IJVS. Using the degree of price fluctuation to measure the risk culture of each capital market, this paper observes that the risk culture in the Chinese capital market is significantly stronger than that of developed countries. This paper also finds that the stronger the risk culture IJVS shareholders have, the better they can adapt to the environment of the Chinese capital market and the better the performance they can achieve. Furthermore, risk culture distance, calculated by the risk culture differences between foreign shareholders and Chinese capital market, are significantly negatively correlated with IJVS performance and efficiency.

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The Influence of Institutional and Government Ownership on Firm Performance: Evidence from Kuwait

Cited by 74 publications

References 37 publications

Effect of Corporate Governance Mechanisms on Financial Performance of Insurance Companies in Nigeria

Effect of Corporate Governance Mechanisms on Financial Performance of Insurance Companies in Nigeria

Does institutional ownership moderate the effect of intellectual capital and company value?

The Influence of Risk Culture on the Performance of International Joint-Venture Securities

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