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Full-Text Articles in Business
Reply To "Response: Board Composition And Firm Performance: Evidence From Bangladesh - A Sceptical View", Afzalur Rashid, Anura De Zoysa, Sudhir Lodh, Kathleen Rudkin
Reply To "Response: Board Composition And Firm Performance: Evidence From Bangladesh - A Sceptical View", Afzalur Rashid, Anura De Zoysa, Sudhir Lodh, Kathleen Rudkin
Faculty of Commerce - Papers (Archive)
This paper replies to Chowdhury’s (2010) response to the paper "Board Composition and Firm Performance: Evidence from Bangladesh" (2010). It challenges the strength of the criticisms, arguing that the factors discussed in Chowdhury (2010) do not necessarily impair the outcome of the research. The authors elucidate issues raised, and in so doing, reproduce the results incorporating the commentator’s suggestions
Board Structure And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
Board Structure And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
Faculty of Commerce - Papers (Archive)
Research Question/Issue: This study examines the relevance of currently accepted best practice recommendations regarding board structure on the survival likelihood of new economy initial public offering companies. We argue that industry context determines governance outcomes.Research Findings/Insights: We study 125 Australian new economy firms listed between 1994 and 2002. Each firm is tracked until the end of 2007 for monitoring their survival. We find that board independence is associated with an increase in the likelihood of corporate survival. We also find that the benefits of board independence increase at a decreasing rate.Theoretical/Academic Implications: The standard best practice recommendation of board independence …
The Influence Of Board Size On Intellectual Capital Disclosure By Kenyan Listed Firms, Indra Abeysekera
The Influence Of Board Size On Intellectual Capital Disclosure By Kenyan Listed Firms, Indra Abeysekera
Faculty of Commerce - Papers (Archive)
Purpose – The purpose of this paper is to examine the effect of board size on firms disclosing more, rather than less, strategic and tactical intellectual capital resources using the top 26 of the 52 firms ranked by the Nairobi Stock Exchange for market capitalization in 2002 and in 2003. This study identifies intellectual capital disclosure by three separate categories: internal capital, external capital, and human capital. Hence, this study examines the influence of board size on six disclosure outcomes. Design/methodology/approach – The study develops hypotheses using the resource dependency theory. Using content analysis for data generation, this study classifies …
When The Going Gets Tough: Board Capital And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
When The Going Gets Tough: Board Capital And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
Faculty of Commerce - Papers (Archive)
The high profile corporate collapse of Enron and WorldCom has been attributed to corporate governance failures. This implicit linkage between governance failures and corporate failures raises the important question of whether good governance will mitigate the probability of failure of a firm faced with extreme financial duress. Additionally, recent studies question the assumption that a single board structure will be optimal for all firms. We empirically address this issue in the context of survival of new economy Australian IPOs. We characterize governance by board structure and leadership. Our results show that one of the key principles of the Cadbury Code …
Executive Compensation, Board Characteristics And Firm Performance In China: The Impact Of Compensation Committee, Yuqing Zhu, Gary G. Tian, Shiguang Ma
Executive Compensation, Board Characteristics And Firm Performance In China: The Impact Of Compensation Committee, Yuqing Zhu, Gary G. Tian, Shiguang Ma
Faculty of Commerce - Papers (Archive)
The independent directors of a board can impact CEO payperformancemore effectively if a compensation committeeprovides information and assist them in designing relevantexecutive pay schemes. On the basis of this idea, we developed andtested the hypotheses that Chinese firms with a compensationcommittee have a closer CEO pay link with performance when alarger proportion of independent directors serves on the board. Wefocused primarily on the effect of a compensation committee onCEO pay-performance relation as a consequence of its help for theboard and found that board independence produces a strongerrelationship between executive compensation and firmperformance in Chinese listed firms. This association is more …
Board Composition, Board Activity And Ownership Concentration, The Impact On Firm Performance, Shiguang Ma, Gary Tian
Board Composition, Board Activity And Ownership Concentration, The Impact On Firm Performance, Shiguang Ma, Gary Tian
Faculty of Commerce - Papers (Archive)
This paper provides a parallel investigation on the impact of board composition, board activity and ownership concentration on the performance of listed Chinese firms. We find that independent directors enhance firm performance effectively than other board factors. The frequency of shareholder meetings, rather than board meetings, is positively associated with firm value. Tradable share ownership concentration has a positive and linear relationship with firm value, while state and total share ownership concentration represent U(V) shapes. Importantly, companies with the highest levels of both total share and tradable share ownership concentration have a greater firm values than companies with the highest …
Ceo Pay-Performance And Board Independence: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian
Ceo Pay-Performance And Board Independence: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian
Faculty of Commerce - Papers (Archive)
This paper examines the impact of board characteristics and CEO compensation on firm performance when firm performance is adjusted for the effect of earnings management. Results from regression analysis indicates that the CEO pay-performance relation is substantially lower when firm performance is adjusted for the effect of earnings management than when firm performance is measured as reported performance. That is, the positive effect of executive compensation on firm performance disappears when firm performance is measured as adjusted firm performance excluding earnings management in Chinese listed firms, and as a result, we can identify that the evident executive pay-performance relation is …
When The Going Gets Tough: Board Capital And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
When The Going Gets Tough: Board Capital And Survival Of New Economy Ipo Firms, Nongnit Chancharat, Chandrasekhar Krishnamurti, Gary G. Tian
Faculty of Commerce - Papers (Archive)
This study investigates the influence of corporate governance attributes on thelikelihood of survival for 127 new economy IPO companies that listed on the ASXbetween 1994 to 2002. We use survival analysis techniques utilizing the Cox proportionalhazards model with three main categories of corporate governance attributes; a) board size,b) board independence and c) ownership concentration We find that the survival time isnegatively related to the percentage holdings of the top 20 shareholders. Our results alsosuggest that new economy IPO companies with low leverage and small company size aremore likely to survive. However, the results indicate that board size and boardindependence do …