This paper seeks to examine the relationship between board committees and firm performance and the moderating effect of family ownership for public companies in Hong Kong.
Abstract
Purpose
This paper seeks to examine the relationship between board committees and firm performance and the moderating effect of family ownership for public companies in Hong Kong.
Design/methodology/approach
This study employs publicly available data from financial databases and annual reports of a sample of 346 firm‐year observations of public companies in Hong Kong for the periods 2001‐2003.
Findings
The empirical evidence indicates that a nomination (remuneration) committee is positively (negatively) related to firm performance, depending on the independence of its composition. Furthermore, family ownership does have an adverse effect on the relationship between board committees, specifically the remuneration committee, and the performance of public companies in Hong Kong.
Research limitations/implications
This study is based on publicly available data and the board process is not actually observed.
Practical implications
The effectiveness of a board committee is contingent on its independence and family ownership.
Originality/value
This paper provides empirical evidence that an independent board committee could enhance the corporate governance of public companies in Hong Kong and would be of interest to regulatory bodies, business practitioners, and academic researchers.
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Keywords
Alan Chan and Shu-Kam Lee
This paper aims to characterize those who take part in three different type religious activities (prayers, monetary donations and worship attendances) in the USA using 1972-2010…
Abstract
Purpose
This paper aims to characterize those who take part in three different type religious activities (prayers, monetary donations and worship attendances) in the USA using 1972-2010 General Social Survey pooled data.
Design/methodology/approach
The authors have identified factors that affect each activity using Tobit analysis.
Findings
There are only three common factors (marriage, race and parental background) that influence all of these three activities and the directions of impacts are not the same. Black churchgoers are more engaging in all of these three activities, the same is true for those whose parents attend church regularly. However, marriage has positive impacts on both worship attendances and monetary donations, but has negative impacts on prayers.
Originality/value
This paper contributes by breaking down giving into three categories and using 38 years of pooled data in the US General Social Survey.
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Alan Chan, Bruce G. Fawcett and Shu-Kam Lee
Church giving and attendance are two important indicators of church health and performance. In the literature, they are usually understood to be simultaneously determined. The…
Abstract
Purpose
Church giving and attendance are two important indicators of church health and performance. In the literature, they are usually understood to be simultaneously determined. The purpose of this paper is to estimate if there a sustainable church congregation size using Wintrobe’s (1998) dictatorship model. The authors want to examine the impact of youth and adult ministry as well.
Design/methodology/approach
Using the data collected from among Canadian Baptist churches in Eastern Canada, this study investigates the factors affecting the level of the two indicators by the panel-instrumental variable technique. Applying Wintrobe’s (1998) political economy model on dictatorship, the equilibrium level of worship attendance and giving is predicted.
Findings
Through various simulation exercises, the actual church congregation sizes is approximately 50 percent of the predicted value, implying inefficiency and misallocation of church resources. The paper concludes with insights on effective ways church leaders can allocate scarce resources to promote growth within churches.
Originality/value
The authors are the only researchers getting the permission from the Atlantic Canada Baptist Convention to use their mega data set on church giving and congregation sizes as per the authors’ knowledge. The authors are also applying a theoretical model on dictatorship to religious/not for profits organizations.
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This paper seeks to examine the relationship between chief executive officer (CEO) duality and firm performance and the moderating effects of the family control factor on this…
Abstract
Purpose
This paper seeks to examine the relationship between chief executive officer (CEO) duality and firm performance and the moderating effects of the family control factor on this relationship with respect to public companies in Hong Kong.
Design/methodology/approach
This study employs publicly available data from financial databases and the annual reports of a sample of 128 publicly‐listed companies in Hong Kong in 2003.
Findings
Neither agency theory nor stewardship theory alone can adequately explain the duality‐performance relationship. The empirical evidence suggests that the relationship between CEO duality and accounting performance is contingent on the presence of the family control factor. CEO duality is good for non‐family firms, while non‐duality is good for family‐controlled firms.
Research limitations/implications
The study is based on publicly available financial data, and actual board processes are not observed.
Practical implications
The design of board leadership structure is contingent on corporate ownership and control (family control or not).
Originality/value
The paper provides empirical evidence that CEO duality is not necessarily bad for public companies in Hong Kong and would be of interest to regulatory bodies, business practitioners, and academic researchers.