Thesis On Corporate Governance And Firm Performance

Thesis On Corporate Governance And Firm Performance-64
Third, granted patents exhibit a negative association with state ownership and board size, and positive association with managerial ownership.

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Findings also reveal an insignificantly negative association between the board independence and ownership concentration.

The study finds a negative and significant association between the executive directors’ ownership, non-executive directors’ ownership, institutional and non-institutional blockholders’ ownership respectively and Tobin’s Q.

In addressing the research objectives, a multi-theoretical approach (i.e.

agency, stewardship, and resource dependence theories) is used in this thesis to investigate the relationships between CG, CE and firm performance in Chinese listed firms.

The main findings show that longer tenure length and an extra bonus ratio with higher ownership ratio for executives, but a shorter tenure length for independent non?

executives, improves firm performance in insurance companies.CG is operationalised using board and ownership structures; CE is measured using R&D intensity, patent applications and granted patents; and performance is measured using Tobin’s Q and return on assets (ROA). First, R&D intensity is negatively related to managerial ownership, but positively related to board size and CEO duality.Second, patent applications have a negative relationship with state ownership, but positively related to foreign and managerial ownership, and supervisory board size.2009), and even more afterwards, as well as during the soft phases of the underwriting insurance cycle, rather than the hard phases. Moreover, this study investigates the mediating role of agency costs on the relationship between corporate governance and the performance of UK insurance companies.The objective of the second core chapter is to assess whether the newly built UK Corporate Governance Index (UKCGI), which has been developed by the researcher, indicates any association between governance structure and firm performance in the UK life and non-life insurance companies, both listed and non? The main findings indicate a significant association between the new corporate governance index (UKCGI) and firm performance, and that the governance?The study uses the GMM methodology which permits simultaneous control of both endogeneity of independent variables and fixed effects.The data comprise hand-collected panel dataset of firms that are listed on the Nigerian Stock Exchange over the 12-year period (2004-2015).It provides evidence that, except for non-executive directors’ ownership none of other forms of ownership improves firm performance.Finally, regarding the investigation of both the agency and resource dependence role of the females and ethnic minorities on the Nigerian corporate boards, finding reveals a significantly positive association between the ethnic minority directors’ representation, female directors’ presence on the board and firm performance.On the other hand, the results also show that independent agency strategy does play a vital role as a complementary corporate governance system, with strong evidence for stock companies, but weaker evidence for mutuals.Corporate governance plays two broad important roles of (i) stewardship and accountability role, that is, it is a mechanism designed to monitor managers and enhance performance of the firm; and (ii) entrepreneurship, that is, providing the mechanisms that motivate managers to create and sustain corporate competitiveness, thereby optimizing shareholders’ wealth.

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