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Article
Publication date: 2 May 2017

Qaiser Rafique Yasser, Abdullah Al Mamun and Marcus Rodrigs

The aim of this paper is to examine the association between board demographics and firm financial performance of Karachi Stock Exchange companies and describe the…

Abstract

Purpose

The aim of this paper is to examine the association between board demographics and firm financial performance of Karachi Stock Exchange companies and describe the attributes of these firms and their boards. The connection between board structure and firm performance has attracted much attention, especially in emerging economies, yet yielded many inconsistent empirical results.

Design/methodology/approach

This study examines the relationship between board structure and the performance of Pakistani public listed companies by using a sample of Karachi Stock Exchange 100 (KSE-100) indexed companies. This study exploits the corporate performance by accounting-based measures (return on assets), market-based measures (Tobin’s Q), and economic profit (economic value added).

Findings

The outcome of the study shows the positive relationship between the board size, minority representation in board, and family director’s in-board and firm performance. The authors also find that, instead of adding value, independent directors in Pakistan are negatively associated with firm value.

Research limitations/implications

The study is based on KSE-100 indexed companies from 2009 to 2013; however, a large sample and multiple years’ data are required.

Practical implications

The paper provides empirical evidence that board independence is not necessary for public-listed companies in Pakistan and would be of interest to regulatory bodies, business practitioners, and academic researchers.

Originality/value

The paper contributes to the literature on corporate governance and firm performance by introducing a framework for identifying and analyzing moderating variables that affect the relationship between board structure and firm performance.

Details

Journal of Asia Business Studies, vol. 11 no. 2
Type: Research Article
ISSN: 1558-7894

Keywords

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Article
Publication date: 7 November 2016

Qaiser Rafique Yasser and Abdullah Al Mamun

This study aims to review the growing research area of behavioral corporate governance; it explores the relationship between CEO duality attributes and earning management…

Abstract

Purpose

This study aims to review the growing research area of behavioral corporate governance; it explores the relationship between CEO duality attributes and earning management in the context of Asia-Pacific countries. Over time, the use by boards of chief executive officer (CEO) duality has fluctuated, and the scholarly conceptualizations of the phenomenon have become more complex.

Design/methodology/approach

This paper uses panel data from 330 firm years from Australia, Malaysia, The Philippines and Pakistan by taking a sample of three years from 2011 to 2013.

Findings

The results of the analysis reveal that the board leadership structure was not associated with firm performance and financial reporting quality. However, female CEOs impacted negatively on firm performance in Malaysia, The Philippines and Pakistan. Further analyses expose that the firm size was negatively related with performance, whereas established firms in Australia had strong reporting quality. However, large boards assured healthier reporting quality in Australia and Malaysia.

Practical implications

This paper provides empirical evidence that a unitary leadership pattern has no significant impact on companies in the Asia-Pacific, and it would be of interest to regulatory bodies, business practitioners and academic researchers.

Originality/value

This paper contributes to the literature on corporate governance and earnings management by introducing a framework for identifying and analyzing moderating variables that affect the relationship between the leadership structure and a firm’s financial reporting quality.

Details

Accounting Research Journal, vol. 29 no. 4
Type: Research Article
ISSN: 1030-9616

Keywords

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Article
Publication date: 7 November 2016

Qaiser Rafique Yasser, Abdullah Al Mamun and Irfan Ahmed

The main purpose of this paper is to examine the causes and interrelations between ownership composition and financial reporting quality of firms in the Asia-Pacific region.

Abstract

Purpose

The main purpose of this paper is to examine the causes and interrelations between ownership composition and financial reporting quality of firms in the Asia-Pacific region.

Design/methodology/approach

The study uses panel data for 420 firms for the period 2011-2013 (three years) from Australia, Singapore, Malaysia, the Philippines and Pakistan.

Findings

Overall, the authors find that ownership concentration is positively associated with the financial reporting quality. However, institutional ownership and foreign ownership are positively associated with financial disclosure in developing countries. Further, the result indicates that institutional and public ownership is positively associated with financial reporting in developed countries. Among the control variables, the authors find that larger firms are negatively correlated with financial reporting quality in Asia-Pacific.

Originality/value

These results highlight the highly individualized effects of blockholders and the need for research to further understand the mechanisms through which shareholders impact financial reporting quality.

Details

Review of International Business and Strategy, vol. 26 no. 4
Type: Research Article
ISSN: 2059-6014

Keywords

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Article
Publication date: 10 July 2017

Qaiser Rafique Yasser, Abdullah Al Mamun and Michael Seamer

The purpose of this paper is to examine an association between board demographics and corporate performance using a sample of Pakistani firms listed on the Pakistan Stock…

Abstract

Purpose

The purpose of this paper is to examine an association between board demographics and corporate performance using a sample of Pakistani firms listed on the Pakistan Stock Exchange in the 2014 year.

Design/methodology/approach

This study is unique in that corporate performance is examined using a mixture of performance measures: accounting-based measures (return on assets), market-based measures (Tobin’s Q, earnings per share, and total return) and economic profit measures (economic value added).

Findings

The results of this research show a significant positive relationship between board size, minority representation on the board and the appointment of a family director and enhanced firm performance. However, contrary to expectations, the authors also find that instead of adding value, the appointment of independent directors to Pakistani firm boards negatively impacts firm value.

Originality/value

This study adds to a growing body of empirical evidence that suggests that agency theory-based corporate governance recommendations adopted in developed economies may not be relevant to emerging economy firms.

Details

International Journal of Productivity and Performance Management, vol. 66 no. 6
Type: Research Article
ISSN: 1741-0401

Keywords

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Article
Publication date: 8 May 2017

Qaiser Rafique Yasser, Abdullah Al Mamun and Margurite Hook

This paper aims to focus mainly on the relationship between ownership structure and earnings management of a developed and two developing economies, and is distinct from…

Abstract

Purpose

This paper aims to focus mainly on the relationship between ownership structure and earnings management of a developed and two developing economies, and is distinct from prior research.

Design/methodology/approach

Using a sample of firms from three countries (Australia, Malaysia and Pakistan), the detailed ownership evolutions for the period 2011-2013 were observed.

Findings

Overall, the authors find that in the East, ownership concentration is negatively associated with financial reporting quality. Individual ownership and group ownership were negatively associated with earnings management in Pakistan, however, not in Malaysia where the same were positively associated. Further, the result of this study indicated that state ownership is negatively associated with firm performance. Among the control variables, it was found that larger firms were negatively correlated with financial reporting, while firms with a larger board size and mature in the maneuver were coupled positively with earnings management.

Originality/value

The results highlight the highly individualized effects of blockholders and the need for research to further understand the mechanisms through which shareholders impact financial reporting quality.

Details

International Journal of Organizational Analysis, vol. 25 no. 2
Type: Research Article
ISSN: 1934-8835

Keywords

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Article
Publication date: 5 October 2015

Qaiser Rafique Yasser and Abdullah Al Mamun

This study aims to examine an important, yet understudied, relationship between board leadership structure and earning management. With conflicting theoretical and…

Abstract

Purpose

This study aims to examine an important, yet understudied, relationship between board leadership structure and earning management. With conflicting theoretical and empirical evidence underpinning the debate the practice has fluctuated, investor perception of board leadership structure has altered, international regulation has reacted, scholarly conceptualizations of duality have become overly complex and the need to understand duality and conclude the debate has increased.

Design/methodology/approach

This study examines the relationship between board leadership structure, firm financial performance and financial reporting quality of Australian, Malaysian and Pakistani publicly listed companies by using a sample of three years from 2011 to 2013.

Findings

Results based on data collected from Australia, Malaysia and Pakistan indicate that the board leadership structure is not associated with firm performance and financial reporting quality. However, the female chief executive impacts negatively on firm performance in Malaysia and Pakistan. Further analyses reveal that the firm size is negatively related, while the grown firms in Australia having strong financial reporting quality.

Research limitations/implications

The study is based on Australian Stock Exchange-20, Kuala Lumpur Stock Exchange-30 and Karachi Stock Exchange-30 companies from 2011 to 2013; however, a large sample from other emerging economies is required.

Practical implications

The paper provides empirical evidence that unitary or dual leadership structure has no impact on public listed companies and would be of interest to regulatory bodies, business practitioners and academic researchers.

Originality/value

This paper contributes to the literature on corporate governance and firm performance by introducing a framework for identifying and analyzing moderating variables that affect the relationship between board leadership structure and firm financial reporting quality.

Details

Corporate Governance, vol. 15 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

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Article
Publication date: 5 May 2015

Qaiser Rafique Yasser and Abdullah Al Mamun

This paper aims to present an analysis of the association between five categories of concentrated ownership and firm performance in Pakistan. The connection between high…

Abstract

Purpose

This paper aims to present an analysis of the association between five categories of concentrated ownership and firm performance in Pakistan. The connection between high ownership concentration and firm performance has attracted much attention, especially in emerging market, yet yielded many inconsistent empirical results.

Design/methodology/approach

Karachi Stock Exchange (KSE)-100 Indexed companies listed in KSE from 2007 to 2011 were selected as the sample, and correlation coefficient and regression model were used to inspect the relationship between ownership concentration degree and corporate performance.

Findings

It was found that there is no significant association with ownership concentration and accounting-based performance, market-based performance measures and economic profit, in general.

Originality/value

The first demonstration that the shareholding proportion of the single largest shareholder is the only variable having positive association with market-based performance measures.

Details

Journal of Asia Business Studies, vol. 9 no. 2
Type: Research Article
ISSN: 1558-7894

Keywords

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