Journal ArticleDOI
Size really matters: Further evidence on the negative relationship between board size and firm value
Y.T. Mak,Yuanto Kusnadi +1 more
TLDR
In this article, the authors examined the impact of corporate governance mechanisms on the firm value of Singapore and Malaysia firms (as measured by Tobin's Q) and found that there is an inverse relationship between board size and firm value in both countries.Abstract:
This study examines the impact of corporate governance mechanisms on the firm value of Singapore and Malaysia firms (as measured by Tobin's Q ) We find little evidence of relationships between most corporate governance mechanisms and Tobin's Q However, consistent with Yermack [Higher market valuation of firms with a small board of directors J Financ Econ 40 (1996), 185–211] and Eisenberg et al [Larger board size and decreasing firm value in small firms J Financ Econ 48 (1998), 35–54], we find that there is an inverse relationship between board size and firm value in both countries This suggests that the negative relationship between board size and firm value transcends different corporate governance systemsread more
Citations
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Corporate governance and financial performance in the emerging economy: The case of Ethiopian insurance companies
TL;DR: In this paper , the effect of corporate governance on the financial performance of Ethiopian insurance companies that are heavily regulated is investigated. And the authors concluded that all corporate governance measures have a significant impact on insurance companies' financial performance in Ethiopia as measured both by return on asset and equity.
Corporate Governance and Market Value: Evidence from Turkish Banks
Banu Dincer,Caner Dincer +1 more
TL;DR: In this article, the authors examined the relation between corporate governance and firm value in an emerging market and assessed the corporate governance practices of listed banks in Istanbul Stock Exchange (ISE) and found that banks with lower governance ratings deliver higher share value due to their higher risk, while banks with higher governance ratings generate lower share value because of their lower risk.
Journal ArticleDOI
Impact of Corporate Governance Mechanisms on Firm’s Performance: A Study on Listed Conventional Banks
TL;DR: In this paper, the impact of corporate governance mechanisms on firm's performance on listed conventional banking companies at the Dhaka Stock Exchange (DSE) was examined based on existing empirical studies.
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Untangling the antecedents of code of ethics quality: does corporate governance matter?
TL;DR: In this article, the antecedents of code of ethics quality with specific regard to the peculiarities of corporate governance, which include the role of the primary shareholders within the firm, the role and influence of independent directors on the board, the effect of board size on the strategic decision-making process and the influence of the chief executive officer's (CEO) age and gender diversity.
Journal Article
Corporate Governance Principles Application and the Financial Performance of Deposit Money Banks in Nigeria: An Impact Assessment
TL;DR: In this article, the impact of Corporate Governance application on the financial performance of some Deposit Money banks in Nigeria was assessed. But, the authors found that there is no significant relationship between board structure and banks' financial performance.
References
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Journal ArticleDOI
Management Ownership and Market Valuation: An Empirical Analysis
TL;DR: This article investigated the relationship between management ownership and market valuation of the firm, as measured by Tobin's Q. In a 1980 cross-section of 371 Fortune 500 firms, they found evidence of a significant nonmonotonic relationship.
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The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
TL;DR: The last two decades indicate corporate internal control systems have failed to deal effectively with these changes, especially slow growth and the requirement for exit as mentioned in this paper, which is a major challenge for Western firms and political systems as these forces continue to work their way through the worldwide economy.
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Higher market valuation of companies with a small board of directors
TL;DR: In this paper, the authors present evidence consistent with theories that small boards of directors are more effective, using Tobin's Q as an approximation of market valuation, and find an inverse association between board size and firm value in a sample of 452 large U.S. industrial corporations.
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Additional evidence on equity ownership and corporate value
John J. McConnell,Henri Servaes +1 more
TL;DR: The authors investigated the relation between Tobin's Q and the structure of equity ownership for a sample of 1,173 firms for 1976 and 1,093 firms for 1986 and found a significant curvilinear relation between Q and common stock owned by corporate insiders.
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The separation of ownership and control in east asian corporations
TL;DR: The authors examined the separation of ownership and control for 2,980 corporations in nine East Asian countries and found that voting rights frequently exceed cash-ow rights via pyramid structures and cross-holdings.