In this study we elaborate the effects of corporate governance practices which recently practiced in Pakistani firms and also examine the relationship among corporate governance mechanisms, capital structure, dividend policy and firm performance. Those researchers who could not find significant link between corporate governance and firm performance suggest that good corporate governance has at least indirect effect on performance. This research attempts to prove that corporate governance effects firm performance directly; relatively it exerts its effects on firm performance through other factors such as capital structure decisions and dividend policy. This research study develops a multilevel model linking corporate governance, capital structure, dividend policy and firm performance then proves it through structural equation modeling (SEM). Corporate governance has been measured and conceptualized through Board Size, Board Composition, CEO Duality, Audit Committee Size and Annual General Meetings. Capital structure has been measured through it standardized proxy that is debt to equity ratio, while dividend policy is measured by dividend payout ratio. Firm performance has measured by two ratios return on assets (ROA) and return on equity (ROE) both are used as accounting and financial measure in the literature review.
Inhaltsverzeichnis (Table of Contents)
- ACKNOWLEDGEMENT
- ABSTRACT
- CHAPTER-1: INTRODUCTION
- BACKGROUND
- EXISTING STUDIES
- GAP IN LITERATURE
- RATIONALE OF THE STUDY
- RESEARCH CONTRIBUTION TO CORPORATE GOVERNANCE LITERATURE
- RESEARCH SIGNIFICANCE FOR CORPORATE PRACTICES/PRACTICAL IMPLICATIONS
- SIGNIFICANCE OF CORPORATE GOVERNANCE IN DIFFERENT ERA
- RESEARCH OBJECTIVES
- PROPOSED METHODOLOGY
- CHAPTER-2: LITERATURE REVIEW
- PROLOGUE FOR LITERATURE
- CORPORATE GOVERNANCE
- CORPORATE GOVERNANCE MECHANISMS
- CAPITAL STRUCTURE
- CAPITAL STRUCTURE CONSTRUCT
- DIVIDEND POLICY
- DIVIDEND POLICY CONSTRUCT
- FIRM PERFORMANCE
- FIRM PERFORMANCE CONSTRUCT
- CHAPTER-3: RESEARCH MODEL AND HYPOTHESES DEVELOPMENT
- CORPORATE GOVERNANCE AND CAPITAL STRUCTURE
- CORPORATE GOVERNANCE AND DIVIDEND POLICY
- CORPORATE GOVERNANCE AND FIRM PERFORMANCE
- CAPITAL STRUCTURE AND FIRM PERFORMANCE
- DIVIDEND POLICY AND FIRM PERFORMANCE
- HYPOTHESIZED RESEARCH MODEL
- CHAPTER-4: METHODOLOGY AND DATA COLLECTION
- RESEARCH PARADIGM
- SAMPLING PROCEDURE AND POPULATION
- DATA COLLECTION
- DATA ANALYSIS
- STRUCTURAL EQUATION MODELS DEVELOPMENT
- MEASUREMENT MODELS
- STRUCTURAL MODELS
- VARIABLES INVOLVED IN THE STUDY
- INDEPENDENT VARIABLES
- MEDIATING VARIABLES
- DEPENDENT VARIABLES
- CHAPTER-5: DATA ANALYSIS AND EMPIRICAL RESULTS
- OBJECTIVE OF THE CHAPTER
- DESCRIPTIVE STATISTICS
- CORRELATION MATRIX
- KMO MEASURES OF SAMPLE ADEQUACY (MSA)
- PARTIAL LEAST SQUARE ANALYSIS
- ANALYSIS OF THE MEASUREMENT MODEL
- ANALYSIS OF THE STRUCTURAL MODEL
- CROSS-LAGGED STRUCTURAL MODELS
- CHAPTER-6: RECOMMENDATIONS AND CONCLUSION
- CONTRIBUTION TO LITERATURE
- CORPORATE PRACTICES/PRACTICAL IMPLICATIONS
- FURTHER RESEARCH OPPORTUNITIES
- LIMITATIONS OF RESEARCH
- CONCLUSION
- REFERENCES
- ANNEXURE-A
- ANNEXURE-B
- ANNEXURE-C
- ANNEXURE-D
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research investigates the relationship between corporate governance mechanisms, capital structure, dividend policy, and firm performance in emerging economies. The study aims to explore the impact of corporate governance on firm performance, both directly and indirectly through capital structure and dividend policy, using a cross-lagged approach.
- The impact of corporate governance on firm performance in emerging economies.
- The role of capital structure and dividend policy as mediating factors between corporate governance and firm performance.
- The application of a cross-lagged analysis to assess the dynamic relationships between the variables.
- The practical implications of the findings for corporate practices in emerging economies.
- Contribution to the existing literature on corporate governance and firm performance.
Zusammenfassung der Kapitel (Chapter Summaries)
Chapter 1 introduces the research background, existing studies, research gaps, and the rationale for the study. It outlines the research contributions to the corporate governance literature, practical implications for corporate practices, and the significance of corporate governance in different eras. The chapter concludes by outlining the research objectives and proposed methodology.
Chapter 2 provides a comprehensive literature review on corporate governance, its mechanisms, capital structure, dividend policy, and firm performance. It examines various conceptual frameworks and empirical studies related to these concepts, highlighting the theoretical foundations and practical implications of each.
Chapter 3 develops a research model and proposes hypotheses based on the theoretical framework and literature review. It examines the relationships between corporate governance, capital structure, dividend policy, and firm performance, outlining the expected directions of influence and the mediating role of capital structure and dividend policy.
Chapter 4 outlines the research methodology, data collection, and analysis techniques. It details the sampling procedure, population, data sources, and the use of structural equation models for data analysis. The chapter also provides an overview of the independent, mediating, and dependent variables involved in the study.
Chapter 5 presents the results of data analysis and empirical findings. It examines descriptive statistics, correlation matrices, KMO measures of sample adequacy, and partial least square analysis. The chapter also discusses the analysis of the measurement model, structural model, and cross-lagged structural models, highlighting key findings and relationships.
Schlüsselwörter (Keywords)
The main keywords and focus topics of this research include corporate governance, firm performance, capital structure, dividend policy, emerging economies, cross-lagged analysis, structural equation models, mediating variables, and partial least square analysis. This study explores the dynamic interplay between these factors in the context of emerging economies, contributing to the understanding of corporate governance and its impact on firm performance.
- Quote paper
- Gul Rukh (Author), 2014, Corporate Governance and Performance of Peer Firms, Munich, GRIN Verlag, https://www.grin.com/document/414577
