Corporate Governance, Competition, and Corporate Performance: A Comparative Analysis of the Muslim World with Rest of the World

Abstract

This chapter uses panel data techniques to analyze the impact of corporate governance and competition on performance of the firms operating in Muslim and non-Muslim economies. Also analyzed the corporate data of 3,158 firms operating in five non-Muslim economies and 1,785 firms operating in five Muslim economies. It is observed from the results that most of the firm-level variables have similar behavior with firm performance irrespective of ownership structure. It is also found that direct majority-owned firms are more profitable as compared to independent firms irrespective of the operating region. Further, it is also observed that operating environment, specifically governance system, has significant impacts on firm performance.

Citation

Qureshi, M.A. and Ahsan, T. (2019), "Corporate Governance, Competition, and Corporate Performance: A Comparative Analysis of the Muslim World with Rest of the World", Azid, T., Alnodel, A.A. and Qureshi, M.A. (Ed.) Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice, Emerald Publishing Limited, Leeds, pp. 389-405. https://doi.org/10.1108/978-1-78973-007-420191038