Corporate Governance, Related Party Transactions and Firm Performance: A Panel Data Analysis

Research on examining the relationship between the extent of related party transactions (RPTs) and the firm performance lack consensus. To further investigate this relationship, we use data of a sample of 483 Indian companies listed at National Stock Exchange (NSE) for the period 2013-2017. Based on analysis of data using panel regression, we observe that different forms of RPTs - income, expenses, borrowings and Loans, bank guarantee - do not lead to enhancement of the firm performance. However, the income from related parties are found to be negatively associated with firm performance. This is consistent with the hypothesis of principal-principal or manager conflict in corporate governance.

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ÖRGÜTLERDE ÖRGÜTSEL BOLLUĞUN GİRİŞİMSEL ORYANTASYON ÜZERİNDEKİ ETKİSİ

Business And Management Studies An International Journal ◽

10.15295/bmij.v4i3.10 ◽

2016 ◽

Vol 4 (3) ◽

Author(s):

Nurdan Gürkan ◽

Ahmet Ferda Çakmak

Keyword(s):

Corporate Governance ◽

Data Analysis ◽

Panel Data ◽

Strategic Management ◽

Significant Relationship ◽

Entrepreneurial Orientation ◽

Panel Data Analysis ◽

Organizational Slack ◽

Analysis Method ◽

The Relationship

The concept of entrepreneurial orientation, which emerges with the development of strategic management, refers to entrepreneurship orientations of businesses. The businesses need resources in other words organizational slack in order to develop their entrepreneurial trends. The organizational slack consists of three slack type. These slack types are available slack, recoverable slack and potential slack. The purpose of this study is to examine whether organizational slack in the businesses has an effect on entrepreneurial orientation. The relationship between organizational slack and entrepreneurial orientation was investigated through 20 companies that were traded in Borsa Istanbul Corporate Governance Index for 2010-2014 period using panel data analysis method. The results of the study indicate the existence of a statistically significant relationship between and the available slack and the recoverable slack with the entrepreneurial orientation in the businesses. According to findings; there was no statistically significant relationship between potential slack and entrepreneurial orientation.

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Corporate Governance Codes and Intellectual Capital: Evaluating the Performance Impacts among Government-Linked Companies in Malaysia and Singapore – A Panel Data Analysis

SHS Web of Conferences ◽

10.1051/shsconf/202112408004 ◽

2021 ◽

Vol 124 ◽

pp. 08004

Author(s):

Yen Wen Chang ◽

Ng Ching Yat David ◽

Suet Cheng Low ◽

Peck Ling Tee

Keyword(s):

Corporate Governance ◽

Data Analysis ◽

Panel Data ◽

Intellectual Capital ◽

Stock Exchange ◽

Panel Data Analysis ◽

Policy Makers ◽

Corporate Governance Codes ◽

The Government ◽

The Impact

The objective of this study was to examine and compare the effects of corporate governance (CG) and intellectual capital (IC) between Malaysia Government-Linked Companies’ (M-GLCs) and Singapore Government-Linked Companies’ (S-GLCs) firm performance (FP). Panel data analysis was employed to analyse the impact of CG’s variables and IC’s variables on FP. FP was measured by Return on Total Assets (ROA), Tobin’s Q and Earnings Per Share (EPS). Data was gathered from the website of Bursa Malaysia and the Stock Exchange of Singapore from 2005 to 2018. The sample size of this research was 60 GLCs which comprised of 34 M-GLCs and 26 S-GLCs. There were a total 840 firm year observations. Results indicated that CGs of S-GLCs have greater impact on FP when compared to M-GLCs while the findings of the IC of M-GLCs have greater impact on FP compared to S-GLCs. This research was helpful in offering further insights of CG practices and IC efficiency to the Government, Board of Directors, policy makers, shareholders and stakeholders.

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Planos de Opções de Compra de Ações e o Valor das Companhias Brasileiras

Brazilian Review of Finance ◽

10.12660/rbfin.v10n1.2012.2654 ◽

2012 ◽

Vol 10 (1) ◽

pp. 105

Author(s):

Fernanda Finotti Cordeiro Perobelli ◽

Bruno De Souza Lopes ◽

Alexandre Di Miceli da Silveira

Keyword(s):

Corporate Governance ◽

Data Analysis ◽

Panel Data ◽

Best Practices ◽

Stock Price ◽

Stock Options ◽

Stock Exchange ◽

Panel Data Analysis ◽

Employee Stock Options ◽

Exercise Price

This work investigates the effects of Employee Stock Options Plans (ESOP) on the value of companies in the Brazilian Stock Exchange (BM&FBOVESPA). An ESOP is a mechanism of variable compensation, generally offered to executives, having the alignment of interests between managers and shareholders as one of its goals. To achieve this purpose, a panel data analysis was used in order to try measuring if the ESOP generated or not value to shareholders. The results show that there is evidence that the ESOP only generates wealth for shareholders when it is well-set, specifically when the exercise price is fixed at-money or out-of-money. An increase in the stock price is also achieved when companies adopt best practices of corporate governance and the ESOP by more than three years.

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AN ANALYSIS OF THE RELATIONSHIP BETWEEN THE QUALITY OF CORPORATE GOVERNMENT ACTIVITIES AND THE FINANCIAL PERFORMANCE BY PANEL DATA ANALYSIS UNDER CROSS-SECTIONAL DEPENDENCY: AN INVESTIGATION ON THE COMPANIES LISTED IN THE BORSA ISTANBUL CORPORATE GOVERNANCE INDEX

Beykoz Akademi Dergisi ◽

10.14514/byk.m.26515393.2020.8/1.137-153 ◽

2020 ◽

pp. 137-153

Author(s):

Mustafa ÖZYEŞİL ◽

Havane TEMBELO

Keyword(s):

Corporate Governance ◽

Data Analysis ◽

Panel Data ◽

Financial Performance ◽

Panel Data Analysis ◽

Cross Sectional ◽

Governance Index ◽

The Relationship ◽

Corporate Government

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THE EFFECT OF EARNINGS PERSISTENCE AND EARNINGS TRANSPARENCY ON COMPANY PERFORMANCE WITH CORPORATE GOVERNANCE AS MODERATING VARIABLE (Empirical Study in Manufacturing Company that Listed in Indonesia Stock Exchange in 2014-2016)

ECONOMICS & ACCOUNTING JOURNAL ◽

10.32493/eaj.v2i2.y2019.p86-94 ◽

2019 ◽

Vol 2 (2) ◽

pp. 86

Author(s):

Melinda Malau

Keyword(s):

Corporate Governance ◽

Data Analysis ◽

Panel Data ◽

Empirical Study ◽

Stock Exchange ◽

Panel Data Analysis ◽

Financial Statement ◽

Earnings Persistence ◽

Company Performance

ABSTRACTEarnings persistence and earnings transparency are an important factors in company performance. The quality of financial statement will differentiate performance between one company to another. The research purposed to analyze the effect of earnings persistence and earnings transparency on the company performance. In addition, the research purposed to analyze corporate governance as a moderating variable can strengthens the effect between earnings persistence and earnings transparency on company performance. This research using sample of 363 firms-year in 2014-2016 and applying panel data analysis. The results show that earnings persistence variable has a positive significant effect on the company performance. Earning transparency also has a positive significant effect on company performance. For corporate governance as a moderation variable strengthens the effect between earnings persistence and earning transparency to the company performance. Size and age also have a positive significant effect on company performance. Keywords: earnings persistence; earnings transparency; company performance; corporate governance.

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Determining the Relationship between the Items of the Cash Flow Statement with Abnormal Output in the Companies Enlisted in Stock Exchange Organization

JOURNAL OF SOCIAL SCIENCE RESEARCH ◽

10.24297/jssr.v5i3.3407 ◽

2014 ◽

Vol 5 (3) ◽

pp. 850-863

Author(s):

Hassan Ghodrati ◽

Fatemeh Haftlang Mohammadjani ◽

Hossein Jabbari

Keyword(s):

Data Analysis ◽

Panel Data ◽

Cash Flow ◽

Positive Relationship ◽

Stock Exchange ◽

Panel Data Analysis ◽

Cash Flows ◽

Independent Variables ◽

The Relationship ◽

Random Method

The continuity of the operations, growth or decrease in the business activities of any company is in line with the on time and optimized funding of cash liquidity and suitable as well as the proper use of them in investment paths in the direction of creating output and ultimately, to increase the shareholders wealth. The goal of this research is to determine the relationship between cash liquidity and abnormal output of stocks. For this purpose, 130 companies were selected by employing simple random method among the companies were enlisted in Stock Exchange Organization. Different cash liquidities included the operational and non-operational cash flows were taken as the five main independent variables, the divisible profits, financial leverage and the size of the company were defined as other independent variables; and, the abnormal output of stock was considered as dependent variable. After analyzing the pre-hypothesis by using combined multi-variable regression and based on the panel data analysis, five linear relations were assessed. The results of the research showed positive relationship between different cash flows, except tax cash flow and the abnormal output of stock. With respect to the determining coefficients which were obtained, the assessed relationship was considered very weak linear relation. The results of T.Student and Fischer showed that the assessed relationship was not significant in the statistical society level. Analyzing the non-parametric correlation showed similar results.

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