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Corporate Governance, Ownership Structure and Firm Performance - Hoang N. Pham, Sardar M. N. Islam

Corporate Governance, Ownership Structure and Firm Performance

Mediation Models and Dynamic Approaches
Buch | Hardcover
176 Seiten
2022
Routledge (Verlag)
978-1-032-18684-9 (ISBN)
CHF 235,65 inkl. MwSt
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The relationship between ownership structure and firm performance has been studied extensively in corporate finance and corporate governance literature. Nevertheless, the mediation (path) analysis to examine the issue can be adopted as a new approach to explain why and how ownership structure is related to firm performance and vice versa. This approach calls for full recognition of the roles of agency costs and corporate risk-taking as essential mediating variables in the bi-directional and mediated relationship between ownership structure and firm performance.

Based on the agency theory, corporate risk management theory and accounting for the dynamic endogeneity in the ownership–performance relationship, this book develops two-mediator mediation models, including recursive and non-recursive mediation models, to investigate the ownership structure–firm performance relationship. It is demonstrated that agency costs and corporate risk-taking are the ‘missing links’ in the ownership structure–firm performance relationship. Hence, this book brings into attention the mediation and dynamic approach to this issue and enhances the knowledge of the mechanisms for improving firm’s financial performance.

This book will be of interest to corporate finance, management and economics researchers and policy makers. Post-graduate research students in corporate governance and corporate finance will also find this book beneficial to the application of econometrics into multi-dimensional and complex issues of the firm, including ownership structure, agency problems, corporate risk management and financial performance.

Dr. Hoang N. Pham is a research associate at Decision Sciences and Modelling Program at Victoria University, Australia. Prof. Sardar M. N. Islam is a professor at the Institute of Sustainable Industries and Liveable Cities at Victoria University, Australia.

1. Corporate Governance, Ownership Structure and Firm Performance: An Introduction 2. The Ownership Structure and Firm Performance Relationship: A Literature Review 3. Equity Ownership Structure and Firm Performance: Theoretical Framework and Empirical Models 4. Corporate Governance, Ownership Structure and Firm Performance: Data and Estimation Methods 5. The Recursive Model and the Non-Recursive Model: Empirical Estimations and Analysis 6. Discussion of Implications: Ownership Structure, Agency Costs, Corporate Risk-Taking and Firm Performance 7. Corporate Governance, Ownership Structure and Firm Performance: Summary and Conclusions

Erscheinungsdatum
Reihe/Serie Routledge Studies in Corporate Governance
Zusatzinfo 16 Tables, black and white; 5 Line drawings, black and white; 5 Illustrations, black and white
Verlagsort London
Sprache englisch
Maße 152 x 229 mm
Gewicht 385 g
Themenwelt Wirtschaft Betriebswirtschaft / Management Finanzierung
Wirtschaft Betriebswirtschaft / Management Unternehmensführung / Management
Wirtschaft Volkswirtschaftslehre
ISBN-10 1-032-18684-4 / 1032186844
ISBN-13 978-1-032-18684-9 / 9781032186849
Zustand Neuware
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