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This paper aims to reduce the knowledge gap by using a large sample and different regressions while controlling the endogeneity and causality issues.
Abstract
Purpose
This paper aims to reduce the knowledge gap by using a large sample and different regressions while controlling the endogeneity and causality issues.
Design/methodology/approach
This study used the ordinary least square (OLS) and two stage least squares (2SLS) regressions to control the endogeneity and causality problems; this estimation strategy allows for comparison of both estimates to identify any inconsistency and biases in the parameters.
Findings
General speaking, this study found that board independence negatively affected firm performance based on Tobin’s Q only and the relationship between the two variables ran from board independence to firm performance but not vice versa.
Originality/value
The current independent directors are not adding value to Kuwait’s listed firms. Some directors who represent large shareholders and the conflict between large shareholders and small shareholders could affect the role of independent directors in Kuwait. To best of the researchers’ knowledge, this study is the first to consider board independent after controlling the issues of endogeneity and causality in Kuwait; thus, the results could be useful for Kuwaiti firms, regulators and policymakers.
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Mejbel Al-Saidi and Bader Al-Shammari
This paper aims to investigate the relationship between ownership structure (ownership concentration and ownership composition) and firm performance in Kuwaiti non-financial…
Abstract
Purpose
This paper aims to investigate the relationship between ownership structure (ownership concentration and ownership composition) and firm performance in Kuwaiti non-financial firms. To this end, it examines the relationship between firm performance and ownership concentration to determine whether the impact of this relationship is conditional on the nature of the large shareholders.
Design/methodology/approach
First, the relationship between ownership concentration and firm performance was tested using ordinary least squares regressions on 618 observations (103 listed firms) from 2005 to 2010; next, the ownership compositions were classified as institutional, government and individuals (families) and their impact on firm performance examined.
Findings
The overall concentration ownership by large shareholders showed no impact on firm performance. However, when the type of shareholders was introduced, only the government and individuals (families) ownership categories influenced firm performance. Therefore, certain types of shareholders are better at monitoring, and not all concentration by large shareholders is beneficial to Kuwaiti firms.
Research limitations/implications
This study examined only one important aspect of the corporate governance mechanisms, namely, ownership concentration. Thus, further study may include other mechanisms such as board variables, role of debt and shareholders rights in examining the firm performance. This study is limited to the Kuwaiti environment, and thus, next step can be very useful in case of comparing ownership concentration in the Gulf Cooperation Council (Kuwait, Bahrain, Qatar, Oman, United Arab Emirates and Saudi Arabia) or across different Arab countries.
Practical implications
The results of this study have important implications for the regulators in Kuwait in their efforts to increase the efficiency of the rapidly developing capital markets and in protecting investors and keeping confidence in the economy. They may mandate a corporate governance code to protect minority shareholders. Investors may use the findings to understand Kuwaiti companies. Such findings may assist them to diversify their investment portfolios.
Originality/value
This paper extends literature review by investigating the role of large shareholders in the context of a developing country that is characterized by high level of ownership concentration and weak legal protection for investors as well as the absence of code that organized the corporate governance practices.
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Mejbel Al‐Saidi and Bader Al‐Shammari
This study aims to examine the relationship between board composition (i.e. non‐executive directors, family directors, role duality and board size) and bank performance, using a…
Abstract
Purpose
This study aims to examine the relationship between board composition (i.e. non‐executive directors, family directors, role duality and board size) and bank performance, using a sample of nine listed Kuwait banks over the 2006 to 2010 period.
Design/methodology/approach
The study uses ordinary least squares (OLS) and two‐stage‐least squares (2SLS) to test such a relationship and to address endogeneity in explanatory variables.
Findings
The results provide some evidence that board composition of banks relates to their performance. According to the OLS regression results, only board size and proportion of non‐executive directors negatively affect bank performance. Meanwhile, the 2SLS results indicate that role duality positively affects a bank's performance while board size affects a bank's performance negatively.
Research limitations/implications
Although the model has explained a significant part of the variation in performance, still unexplained is a material part that represents the “noise” of the model. Data availability limited the ability to study other aspects of corporate governance mechanisms such as number of audit committee members on board. The sample size is small; thus, in future research, the sample size could be increased by including a longer period of time or different countries such as members of the Gulf Cooperation Council (GCC) (Kuwait, Bahrain, Qatar, Oman, United Arab Emirates, and Saudi Arabia).
Practical implications
Given the importance of effective boards in monitoring bank values, more actions and rules need to take place in Kuwait to improve the efficacy of boards in protecting shareholders and their interests in Kuwaiti banks. Regulators may mandate a corporate governance code or adopt the OECD corporate governance principles as a starting point in Kuwait. Kuwaiti companies may use the findings to make appropriate choices about board appointments and best governance to improve performance. Investors also may use the findings to understand Kuwaiti companies. Such findings may assist them to diversify their investment portfolios.
Originality/value
This study asserts to provide insights on the relationship between bank performance and board composition in Kuwait. The study extends prior research and investigates the roles of board of directors in banks in the context of an emerging market characterized by weak shareholder protection and highly concentrated ownership.
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Farooq H. Ali, Mushtaq F. Almensoury, Atheer Saad Hashim, Qusay Rasheed Al-Amir, Hameed K. Hamzah and M. Hatami
This paper aims to study the effect of concentric hot circular cylinder inside egg-cavity porous-copper nanofluid on natural convection phenomena.
Abstract
Purpose
This paper aims to study the effect of concentric hot circular cylinder inside egg-cavity porous-copper nanofluid on natural convection phenomena.
Design/methodology/approach
The finite element method–based Galerkin approach is applied to solve numerically the set of governing equations with appropriate boundary conditions.
Findings
The effects of different range parameters, such as Darcy number (10–3 = Da = 10–1), Rayleigh number (103 = Ra = 106), nanoparticle volume fraction (0 = ϑ = 0.06) and eccentricity (−0.3 = e = 0.1) on the fluid flow represent by stream function and heat transfer represent by temperature distribution, local and average Nusselt numbers.
Research limitations/implications
A comparison between oval shape and concentric circular concentric cylinder was investigated.
Originality/value
In the current numerical study, heat transfer by natural convection was identified inside the new design of egg-shaped cavity as a result of the presence of a circular inside it supported by a porous medium filled with a nanofluid. After reviewing previous studies and considering the importance of heat transfer by free convection inside tubes for many applications, to the best of the authors’ knowledge, the current work is the first study that deals with a study and comparison between the common shape (concentric circular tubes) and the new shape (egg-shaped cavity).
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Abdelraheem M. Aly and Zehba Raizah
The purpose of this study is to simulate the thermo-solutal convection resulting from a circular cylinder hanging in a rod inside a ∧-shaped cavity.
Abstract
Purpose
The purpose of this study is to simulate the thermo-solutal convection resulting from a circular cylinder hanging in a rod inside a ∧-shaped cavity.
Design/methodology/approach
The two dimensional ∧-shaped cavity is filled by Al2O3-water nanofluid and saturated by three different levels of heterogeneous porous media. An incompressible smoothed particle hydrodynamics (ISPH) method is adopted to solve the governing equations of the present problem. The present simulations have been performed for the alteration of buoyancy ratio
Findings
The performed numerical simulations indicated the importance of embedded shapes on the distributions of temperature, concentration and velocity fields inside ∧-shaped cavity. Increasing buoyancy ratio parameter enhances thermo-solutal convection and nanofluid velocity. Adiabatic conditions of the vertical-walls of ∧-shaped cavity augment the distributions of the temperature and concentration. Regardless the Darcy parameter, a homogeneous porous medium gives the lowest values of a nanofluid velocity.
Originality/value
ISPH method is used to simulate thermo-solutal convection of a nanofluid inside a novel ∧-shaped cavity containing a novel embedded shape and heterogeneous porous media.
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This study aims to examine the mediating role of employee commitment between the quality of work-life (QWL) and job performance among the faculty of technical institutions…
Abstract
Purpose
This study aims to examine the mediating role of employee commitment between the quality of work-life (QWL) and job performance among the faculty of technical institutions established in the province of Punjab (India).
Design/methodology/approach
The data collected from 434 faculty members with a response rate of 72% is analyzed and the mediation effect of employee commitment between the QWL and job performance of the faculty is modeled through partial least square-structural equation modeling.
Findings
The results indicate that employee commitment partially mediates between QWL and job performance. To strengthen the result, mediation of employee commitment is also tested for each dimension of the QWL with job performance. All the factors of QWL also supported a partial mediation effect.
Practical implications
The findings of the study may help the policymakers to understand, frame and implement appropriate policies for improving the work-life quality and commitment among the faculty. This may further assist in augmenting the overall performance of the faculty amidst a crisis in the sector.
Originality/value
The study highlights the role of employee commitment as a mediator between the QWL and job performance of the faculty in the technical education sector which is one of its kind and possibly not yet explored. Besides, the study proposes some measures in improving the work-life quality and job performance of the faculty.
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T. S. Nanjundeswaraswamy and Vanishree Beloor
The purpose of this study is to identify the level of quality of work life (QWL) of employees working in the Garment industries using a validated scale.
Abstract
Purpose
The purpose of this study is to identify the level of quality of work life (QWL) of employees working in the Garment industries using a validated scale.
Design/methodology/approach
Survey methods were used for this study. A questionnaire was designed to collect the data and information, and it is validated through exploratory factor analysis, confirmatory factor analysis.
Findings
The majority of employees are not satisfied with the present status of QWL in garment units. Followings are the predominant components, which influence the QWL of employees compensation and rewards; job security; grievance handling; work environment; training and development; job nature; satisfaction in job; facilities and relation and cooperation.
Originality/value
The study was conducted in 133 garment industries where sample responses were obtained from 851 workers working in Indian Garment industries. In the competitive business environment, retaining a talented workforce is one of the big challenges to the organization. An unsatisfied employee is the first enemy of the organization, it is the prime task of the employers to keep the workforce at a satisfying level, otherwise, it will lead to employee turnover, performance and productivity. This paper helps to identify and quantify the components of the quality of work-life of employees if employers address these components job satisfaction level of employees will increase; therefore, our results will help the HR managers and policymakers to take appropriate decisions to enhance QWL.
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Vanishree Beloor and T.S. Nanjundeswaraswamy
The purpose of this study is to determine the enablers of the quality of work life (QWL) of employees working in the Garment industries.
Abstract
Purpose
The purpose of this study is to determine the enablers of the quality of work life (QWL) of employees working in the Garment industries.
Design/methodology/approach
The study was carried out in a fivefold step. In the first step, the enablers of QWL were identified through an exhaustive literature survey, in the second step identified vital few components through Pareto analysis. Then the third step was followed by exploratory factor analysis (EFA) to further, to identify the precise components and validate the same using confirmatory factor analysis in fourth step. The final step included interpretive structural modeling and Cross-Impact Matrix Multiplication Applied to Classification analysis to model the validated components and determine the interrelationships and linkages.
Findings
Predominant QWL enablers of employees working in the garment industries are training and development, satisfaction in job, compensation and rewards, relation and co-operation, grievance handling, work environment, job nature, job security and facilities.
Research limitations/implications
In this study, the interpretive structural model is designed based on the opinion of the experts who are working in the garment industry considering the responses from employees in garment sectors. The framework can be extended further to the other sectors.
Practical implications
In future, the researchers in QWL may develop a model to quantify the level of employees’ QWL who are working in different sectors. Enablers of QWL are essential, and based on this further statistical analysis can be carried out. This study will provide limelight to the researchers in choosing the valid and reliable set of enablers for the empirical studies. Organizations can get benefit by implementing the outcome of this research for the enhancement of the QWL of employees.
Originality/value
The study was carried out in 133 garment industries where 851 workers constituted the final valid responses that were considered for analysis. The outcomes from the study help administrators, policy and decision-takers in taking decisions to enhance QWL.
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