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Article
Publication date: 7 April 2020

Muhammad Naeem Shahid, Aamir Abbas, Khalid Latif, Ayesha Attique and Safwan Khalid

This study aims to identify the impact of corporate governance on performance of sugar mills. In order to study this relation, a model is constructed in which ownership structure…

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Abstract

Purpose

This study aims to identify the impact of corporate governance on performance of sugar mills. In order to study this relation, a model is constructed in which ownership structure and independent directors are taken as independent variables. Whereas firm performance is analyzed by using proxy variables such as return on asset (ROA), return on equity (ROE) and sales growth. Moreover, size of board, working capital management (WCM) and philanthropy are taken as mediating variables between governance variables and firm performance.

Design/methodology/approach

The data of 32 sugar mills listed at Pakistan Stock Exchange for the period of four years (i.e. 2014–2017) is used for this research. Moreover, to investigate the model, generalized least squares statistical method is used to measure the relationship between variables.

Findings

The results revealed that there is significant but positive relationship between independent directors and ROA while ownership structure and ROE have significant but negative relationship. Thus, the board of directors should make it sure that all stakeholders and organizations should increase the nonfamily ownership in firms for better corporate performance. Moreover, philanthropy and WCM mediate the relationship between corporate governance and firms' performance.

Practical/implications

This research work will be helpful in the corporate governance, and further researchers can conduct their study by considering executive/nonexecutive director and institutional owners as governance variables.

Originality/value

This paper fulfills an identified need to study how Corporate Governance effect the performance of firm.

Details

Journal of Asian Business and Economic Studies, vol. 27 no. 2
Type: Research Article
ISSN: 2515-964X

Keywords

Open Access
Article
Publication date: 8 March 2021

Aamir Nazir, Muhammad Azam and Muhammed Usman Khalid

The purpose of this study is to investigate the relationship between the listed firms' debt level and performance on the Pakistan Stock Exchange (PSX) during a five-year period.

15770

Abstract

Purpose

The purpose of this study is to investigate the relationship between the listed firms' debt level and performance on the Pakistan Stock Exchange (PSX) during a five-year period.

Design/methodology/approach

This study uses pooled ordinary least squares regression and fixed- and random-effects models to analyse a cross-sectional sample of 30 Pakistani companies operating in the automobile, cement and sugar sectors during 2013–2017 (N = 150).

Findings

The results indicate that both short- and long-term debt have negative and significant impacts on firm performance in profitability. This suggests that agency issues may lead to a high-debt policy, resulting in lower performance. However, both sales growth and firm size have positive effects on the profitability of non-financial sector companies.

Research limitations/implications

This study suggests that when debt financing significantly and negatively influences firm profitability, company owners and managers should focus on finding a satisfactory debt level. However, this study is limited to the automobile, cement and sugar sectors of Pakistan. Future studies could address other sectors, such as textiles, fertilizers and pharmaceuticals.

Originality/value

This study focusses on enhancing the existing empirical knowledge of debt financing's influence on the PSX's major sectors' profitability.

Details

Asian Journal of Accounting Research, vol. 6 no. 3
Type: Research Article
ISSN: 2443-4175

Keywords

Open Access
Article
Publication date: 18 August 2022

Eugine Tafadzwa Maziriri, Brighton Nyagadza, Miston Mapuranga and Tafadzwa Clementine Maramura

This study aims to examine the impact of habitual Facebook use (HFU) on life satisfaction and psychological well-being. In addition, the study examined the impact of life…

1746

Abstract

Purpose

This study aims to examine the impact of habitual Facebook use (HFU) on life satisfaction and psychological well-being. In addition, the study examined the impact of life satisfaction on psychological well-being. Moreover, the study investigates the impact of social safeness in moderating the relationship between HFU and life satisfaction.

Design/methodology/approach

The study employed a quantitative survey design, using a sample of 261 Generation Y students based in Mthatha, in the Eastern Cape Province of South Africa. Scales for data collection were operationalized from prior studies. The collected data were analyzed using structural equation modeling.

Findings

The study’s results disclosed that HFU positively and significantly impacts life satisfaction and psychological well-being. In addition, life satisfaction positively and significantly impacted psychological well-being. Moreover, the results showed that social safeness had a positive and significant moderating effect on the nexus between HFU and life satisfaction.

Originality/value

This study contributes to understanding HFU as a precursor to life satisfaction and psychological well-being among Generation Y students. Also, evaluating the moderating effect of social safeness contributes to a more thorough understanding of the link between HFU and life satisfaction. Furthermore, this research aims to add to the body of knowledge in Africa’s communication psychology and social media literature, a field that has received little academic attention in developing countries.

Details

Arab Gulf Journal of Scientific Research, vol. 40 no. 2
Type: Research Article
ISSN: 1985-9899

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