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The purpose of this paper is to analyze the effect of internal control on tax avoidance analyzing internal (family ownership) and external (environmental uncertainty) factors on the effectiveness of internal control in preventing tax avoidance.

First, the authors examine the direct effect of the effectiveness of internal control on tax avoidance. Second, the authors examine the effect of moderation of family ownership and environmental uncertainty on the relationship of the effectiveness of internal control on tax avoidance. Third, the authors divide the full sample into two groups, high and less effectiveness of internal control to examine the direct effect of internal control effectiveness on tax avoidance and when considering moderating variables. Fourth, the authors use two different measures of the effectiveness of internal control.

This research found that effective internal control can reduce tax avoidance. Family ownership affects the relationship between internal control and tax avoidance, but environmental uncertainty does not influence the relationship between internal control and tax avoidance.

Internal control increases compliance with rules and policies, so companies must design and implement effective internal control to prevent tax avoidance activities in violation of tax regulations.

In contrast to previous studies, this study measures the effectiveness of internal control using the index of internal control practice disclosure and considers internal and external factors that can affect the effectiveness of internal control to prevent tax avoidance.

This study aims to examine the relationship between the internal control manager attributes and the firms’ operational efficiency. The internal control manager designs and maintains the firms’ policies and procedures to certify the effectiveness of its internal control system.

The study is an empirical research based on a sample of public companies listed on the Korean Stock Exchange from year 2011 to 2015. The authors derive measures of operational efficiency using the data envelopment analysis tool.

This study shows that the operational efficiency increases with internal control managers’ task-related knowledge and diverse firm knowledge, consistent with human capital theory. Also, the results reveal that internal control managers, equity ownership has a curvilinear relationship with the operational efficiency, indicating that excessive managerial ownership can deteriorate the firm value.

While many studies have examined the association between the internal control system and financial reporting quality, this paper is differentiated from prior studies by focussing on the internal control managers’ personal attributes. This is important, as the internal control system is essentially built by internal control managers who are in charge. This study contributes to accounting literature by shedding light on the role of internal control managers in enhancing the firms’ operational efficiency.

This paper aims to determine the perceptions of family-owned small enterprises on the external transfer of ownership and intra-transfer of ownership using empirical data. This permitted the research to successfully point out the factors that influence the internal transfer of ownership, and also, the effects of intra-transfer of ownership from a viewpoint of both family members and non-family members in small family-owned enterprises.

A quantitative research design was used to conduct this research, where primary data was gathered from a sample of 257 respondents using convenience and snowball sampling techniques. Data was collected through a survey instrument distributed via internet-based surveys (SurveyMonkey) and through a drop-off method. The gathered data was then captured, coded and analysed using Stata (version 15) statistical software.

The results divulged that intra or internal transfer of ownership is the preferred avenue compared to external transfer of ownership. This is because, when a family business is transferred to the next generation, it presents some benefits to family members working in the business and to the family at large. As a result, the empirical results show that factors that influence the internal transfer of ownership include: favouritism; security, stability and growth; a formal and structured succession plan. Business improvement and organisational change are then the effects of external transfer ownership. Although these effects make business sense, family members will advocate for internal transfer of ownership for them not to lose the benefits that come with the internal transfer of ownership.

This paper adds to the current family business research in South Africa, thus reducing the shortage of such research. Moreover, the paper proposes further research that will provide tested, practical and detailed guidelines of survival in the next generation.

The paper empirically highlights the perils of selecting a successor based on favouritism rather than merit and possible consequences, thereby assisting those involved in family enterprise succession to make an informed decision when choosing a successor.

This research paper provides empirical evidence of the internal transfer of ownership factors and external transfer of ownership effects from a South African perspective.

This study aims to examine the impacts of board chairman characteristics on the decision to finance with debts.

Based on historical data from 173 active nonfinancial firms listed on Gulf Cooperation Council (GCC) Stock Exchange Markets during 2012–2019, this research uses ordinary least squares (OLS) and dynamic system-generalized methods of moments to test its hypotheses. The final dataset comprises 1,384 firm-year observations from 10 major nonfinancial industry classifications.

Results indicate a negative impact of board chairman ownership on the decision to finance with retained earnings (RE). Negative effects of the chairman and chief executive officer (CEO) from the same family on the decision to finance with RE, whereas positive effects of the chairman and CEO from the same family on the decision to finance with debts are observed. In addition, a negative effect of the chairman from a royal family on the decision to invest with debts is found.

Many board chairmen characteristics, such as age, gender, experience, education level, periodic change and ethnicity, are unaddressed. Financial decisions (FDs) are also limited to two decisions (internal financing with RE and external financing with debts).

Findings of this study provide an improved understanding of the role of chairman characteristics in FDs in GCC. Investors and lenders dealing with companies in GCC markets benefit from the authors' results because of the effects of chairman characteristics on FDs when making investment decisions in company stocks.

The study clarifies how each of the three board chairman characteristics (i.e. chairman ownership, chairman and CEO from the same family and the chairman from the royal family) affects FDs, especially the decisions to finance with debts and RE.

In this study, we investigate whether higher institutional ownership is related to better internal controls and whether better internal control is associated with a higher quality of transparency.

The purpose of this study is to explicitly focus on the roles of ownership concentration, ownership by the board, the chief executive officer (CEO) and the chairperson in the involvement and capabilities of chairpersons and other governors in their work.

In this study, the authors investigate the impact of the concentration of ownership, the ownership of the board, the CEO and the chairperson on the chairperson’s activity when the roles of the chairperson and the CEO are separated The empirical analysis of this study is based on a survey sent to Nordic listed firms.

The results show that the ownership characteristics of a company are important in determining the chairperson’s working hours, the chairperson’s communication with the CEO and the performance of governance activity. In addition, the authors found that while the ownership of the chairperson and the board of directors and ownership concentration improve governance activity, CEO ownership may undermine governance activity.

The primary implication of the study is that both ownership by internal governors and ownership concentration play an important role in determining the involvement of internal corporate governors.

The study provides unique evidence that ownership by the chairperson, concentrated ownership and ownership by the board can potentially mitigate the costs of separating the roles of the chairperson and the CEO.

The purpose of this paper is to investigate the impact of product market competition and ownership structure on total factor productivity and the interaction between these two governance tools.

Using a sample of 90 Tunisian non-financial firms over the period 1998-2012, the authors use fixed effects and Generalized Method of Moments models to test the complementary/substitutability effect between family ownership and competition.

The authors find that product market competition boosts productivity in that it mitigates agency problems. Moreover, the authors show that large blockholders have a positive impact on firms’ performance. When considering ownership types, it seems that families play an important role in improving productivity. However, this ownership structure is less effective when firms operate in competitive industries. Thus, the results suggest that a substitution effect exists between internal governance mechanisms (particularly family ownership) and competition.

Tunisian politicians must review the investment code and remove barriers and restrictions in order to assure fair product market competition. Also, regulation must be changed to encourage foreigners’ shareholding and the creation of private equity firms. Moreover, large shareholders operating in a competitive environment should open up their capital to new shareholders in order to undertake more investments and to benefit from certain advantages.

To the best of the authors’ knowledge, this is the first study to examine the effect of product market competition on the relation between corporate governance and productivity in the Tunisian context. Moreover, the complementary/substitutability effect between family ownership and competition has not been examined before in any context.

Diversified business groups have become active players in Chinese economy in the recent years. While several studies have been conducted to examine the role of external factors such as market imperfection on firms' decisions to diversify, relatively few efforts have been made to investigate the impact of internal factors such as ownership structures on such decision. Building on agency theory, this paper attempts to examine the impacts of ownership type and ownership concentration on Chinese business groups' diversification strategies.

Year 2000 annual reports of publicly traded companies on Shenzhen Stock Exchange were used to identify business groups and collect data. Multiple regression analysis was used to conduct the data analysis.

The results indicate that compared to other ownership structures, government‐owned business groups tend to be more diversified, while ownership concentration seems to be related to lower levels of diversification. Industry membership also plays a significant role, but previous performance is not significantly related to diversification levels. Implications and future study directions are also discussed.

This study contributes to the understanding of the impact of ownership structure on companies' diversification strategies in a transitional economy such as China.

This article examines the reasons why the internal market failed to gain public acceptance and looks beyond the popular view which argued the non‐acceptance was a result of the “two tier” service and increased bureaucracy. It compares the experience of customers in the internal market with those of other public services that have undergone pritatisation. The article concludes that differences in the range and pattern of the services provided by the NHS led the public to a lower level of understanding regarding improvements and efficiency. The benefits of the market in other once public services were more transparent and there were greater incentives to accept the change. The article recommends that the clinicians involved in the management of primary care groups should learn the lessons of the internal market because users are ill‐equipped for the next stage of healthcare reform as they were for the last.

The purpose of this research is to examine the impact of corporate governance proxies by ownership structure on financial constraints for a sample of 215 non-financial Pakistan Stock Exchange (PSX) listed firms between 2010 and 2018.

The dynamic generalized method of moments (GMM) estimator is used to determine the influence of ownership structure on financial constraints. The ownership structure of sample enterprises is measured using seven variables: managerial, family, institutional, foreign, associated, presence of block holder, and concentrated ownership, while financial limitations are determined using the KZ Index. The WW Index is used to assess the robustness of the results. In addition, for robustness, we also used OLS and FE.

Based on the system GMM results, it was discovered that firm ownership structure has a significant impact on the likelihood of financial constraints. In the case of Pakistan, the results show that institutional ownership, foreign ownership, and the presence of a block holder in the ownership structure have a significant negative impact on financial constraints, whereas family ownership and ownership concentration have a significant positive impact. This finding remains true when financial constraints are measured using the WW Index.

The findings of the study provide business managers and investors with more information regarding the relationship between corporate governance quality and the degree of financial constraint in Pakistani firms. Furthermore, this study contributes new information from emerging nations like Pakistan to the existing literature, which will help regulatory bodies and policymakers build long-term corporate governance solutions to manage financial constraints. It is well established that improving the quality of corporate governance practices improves capital market efficiency and lowers the likelihood of financial constraints.

The study adds to the body of existing work on corporate governance and the possibility of financial constraints, with a focus on Pakistan. The findings show that when projecting company financial constraints, regulators should pay special attention to the quality of corporate governance, specifically ownership structure.