Search results

The purpose of this study is to investigate how concentrated owners add value to Asian firms. While prior research suggests that relational owners (i.e., business groups, top management team, board, government, banks, families, and corporation) may help firms fill institutional voids, this study proposes that it is transactional owners (i.e., foreign and institutional investors) lacking this ability who contribute most to firm performance. As these owners frequently hail from contexts with well-developed corporate governance traditions, they tend to have experience with the design and implementation of such governance practices.

This study involves a meta-analysis covering 276 studies from 17 Asian countries.

This study shows that transactional owners impose effective governance practices such as separating the chief executive officer (CEO) and Chair roles and assuring board independence. These practices promote decisions benefiting all shareholders, such as preventing diversification and financial over-leveraging.

This study contributes to the comparative corporate governance literature by showing that implementing internal governance practices helps improve firm performance in Asia. It also contributes to the owner identity literature by opening the black box of how transactional and relational owners differentially affect firms’ strategic behavior. Overall, this study yields a more nuanced understanding of what transactional owners contribute to Asian firms.

This paper aims to explore the interlock-performance relationship among mainland Chinese firms listed in Hong Kong by taking advantage of a relationship-intensive context whereby such a link is likely to be especially important. Although strategic networks such as interlocking directorates have been found to affect a number of strategic behaviors, the link connecting board interlocks and corporate performance has remained ambiguous. Considerable light has been shed on the strategic networks of firms whose shares are listed abroad, which have been under-studied despite their rising importance in the global economy.

Data come from a particularly interesting historical period – the early 1990s prior to Hong Kong’s 1997 handover to China. Both quantitative and qualitative research have been used.

Empirically, it was found that good performance in an earlier period helps draw outside directors in a later period, and that network centrality and certain types of interlocks help improve performance, albeit with varying degrees. Overall, our results answer the question whether strategic networks such as interlocks matter for corporate performance with a qualified “yes”.

Taking advantage of a relationship-intensive context, this article explores the interlock-performance relationship among mainland Chinese firms listed in Hong Kong. Focus is specifically on the two years, 1993 and 1995, due to their specific historical importance because these two years represent the beginning of Chinese firms’ listing in Hong Kong.

This paper points out new directions for the deepening and broadening of the institution-based view, by drawing on three streams of research with which I have been involved recently: (1) outward foreign direct investment from emerging economies, (2) bankruptcy laws and entrepreneurship development, and (3) institution-based research focusing on Africa. Such deepening has been accomplished by enhancing our institution-based understanding of foreign direct investment with a focus on emerging multinationals, while broadening has been done both substantively by probing into the impact of bankruptcy laws on entrepreneurship development around the world and geographically by calling for enhanced research attention on Africa via an institution-based lens.

This paper aims to examine the impact of ownership structure on the accounting-based performance of listed Nigerian deposit money banks (DMBs) on Nigerian Exchange Group (NGX) from 2011 to 2020.

The study adopts ex post facto research design, using initially “the panel fixed and random effects regression analysis and Hausman specification test and thereafter, the IV Generalised method of moments (GMM) to check for endogeneity issues and strengthen the robustness of the results.

The one lagged value result reveals that ownership structure of DMBs in Nigeria has cumulative significant impact to influence corporate financial performance of the banks in the future. Overall, CEO, board/managerial, family, government and foreign ownership structures in DMBs in Nigeria do not have significant influence on accounting-based corporate financial performance of the banks. However, the study reveals that board/managerial ownership could significantly improve market value/growth of DMBs in Nigeria.

Policy makers, investors (both local and foreign), academics, corporate governance administrators, and the government could apply the study's findings to the management of banking operations in Nigeria.

The paper highlights the impact of five ownership structures on the accounting-based performance of DMBs in Nigeria from 2011 to 2020, providing valuable insights into the influence of stockholding categories on corporate financial performance, which is a shift from extant literatures with limited insights.