• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.293-308
• /
• 2020

This study aims to investigate the direct relationship between ownership structure, earnings manipulation, and organizational performance, and then examine the mediating effect of earnings manipulation in the relationship between ownership structure and organizational performance. This study collected and analyzed secondary data published in financial reports related to all insurance organizations listed in the Jordanian market during the study period (from 2009 until 2018). A panel data analysis was conducted, giving a total of 200 observations. The findings of this study concluded that ownership concentration, foreign ownership, and organization size affect organizational performance proxied by ROA, ROE, and EPS, more specifically, ownership concentration and organization size have a positive effect, whereas foreign ownership has a negative effect. At the same time, board of director ownership, organizational ownership, and CEO compensation did not affect organizational performance. Next, the board of director ownership, ownership concentration, foreign ownership, and CEO compensation affect earnings manipulation separately. In addition, earnings manipulation positively affects organizational performance proxied by ROA, ROE and EPS. This means that the higher the earnings manipulation is, the higher the organizational performance is. Finally, earnings manipulation mediates the relationship between ownership concentration and foreign ownership of ownership structure, and organizational performance.

• Journal of Wellbeing Management and Applied Psychology
• /
• v.3 no.1
• /
• pp.1-10
• /
• 2020

The purpose of this study was to examine the moderating effect of board education diversity on the relationship between ownership concentration and environmental accounting disclosure. The study was driven by stakeholder's theory. The longitudinal research design was adopted in the study. The study targeted 27 listed firms from 2008 to 2017. Panel regression analysis results indicated ownership concentration (β = -.131, ρ<.05) had a negative and significant effect on environmental disclosure in Kenyan firms. However, Board education diversity positively moderated the relationship between ownership concentration (β=.138, ρ<.05) and environmental accounting disclosure. Thus, board education diversity is an enhancing moderator in the relationship between ownership concentration and environmental accounting disclosure. The findings validate stakeholder theory's proposition. The study recommends that firms listed in the NSE ought to diffuse ownership concentration, and their boards should be well educated and experienced to enhance environmental accounting disclosure.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.675-685
• /
• 2020

The main purpose of this study is to investigate the potential effect of ownership concentration on the relationship between board composition and bank performance. The study employs a sample of Saudi banks listed on Saudi stock exchange (TADAUWL) over the period from 2011 to 2018. To test the study hypotheses and control for endogeneity issues, the Ordinary Least Square (OLS) and the Two-Stage Least Squares (2SLS) techniques are used. The empirical results reveal a significant negative moderating effect of ownership concentration on the association between board composition and bank performance, which confirms the study argument and supports hypotheses. The results indicate that board composition in terms of independent board members, executive board members, and non-executive board members in banks with higher ownership concentration have a weaker positive influence on bank performance. For control variables, the results are almost consistent with theoretical perspectives and previous empirical evidence. The results of this study have important implications for regulatory authorities, companies, and market participants in Saudi Arabia and countries with high concentrated ownership to understand how ownership concentration could affect corporate governance and firm performance and to identify appropriate actions to protect board composition from the influence of ownership concentration.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.11
• /
• pp.647-656
• /
• 2020

This study empirically examines the effect of ownership structure on bank diversification and risk-taking behavior. The population of this study is based on all commercial banks listed in Bangladesh. Thirty-two conventional commercial banks were randomly selected from thirty-three conventional banks for this study. Data was collected from the annual reports of the concerned banks from 2000 to 2017. To analyze the data, we had applied the two-stage least squares (2SLS) estimator. The results of the analysis show that ownership structure i.e. managerial ownership, institutional ownership, general public ownership, and ownership concentration have a significant negative impact on bank diversification. On the other hand, institutional ownership, managerial ownership, and general public ownership have a significant positive impact on Z-score, and ownership concentration has an insignificant but positive impact on the Z-score of banks in Bangladesh. Therefore, the study opposes the benefits of diversification and promotes ownership structure which is capable of ensuring better financial stability by reducing the probability of risk. The policy-makers especially, Bangladesh banks should evaluate the fact of this study to issue guidelines on corporate governance, bank diversification, and risk-taking behavior of commercial banks.

• The Journal of the Korea Contents Association
• /
• v.22 no.8
• /
• pp.318-328
• /
• 2022

The purpose of this study is to analyze the impact of ownership concentration and R&D investment on earnings growth of listed companies in China. For this purpose, this study utilized 14,196 samples from 2,366 Chinese listed companies using the WIND database and conducted empirical analysis by Python. The results of the analysis are as follows. First, the data shows that ownership concentration has a positive (+) impact on revenue growth of Chinese listed firms. Second, ownership concentration has a postive(+) impact on R&D investment of Chinese listed firms. Third, the survey shows that R&D investment has a positive (+) impact on revenue growth of Chinese listed firms. Fourth, the impact of R&D investment on earnings growth of Chinese listed firms has time lag effect. Fifth, R&D investment has a partial mediating effect in ownership concentration and earnings growth of Chinese listed firms. Based on these analytical results, this study proposes measures to promote firms' earnings increase by optimizing ownership concentration and increasing R&D investment in Chinese listed firms.

• Journal of Distribution Science
• /
• v.12 no.5
• /
• pp.27-32
• /
• 2014

Purpose - Since Iran's economy is only now developing, and its stock market is only now emerging, we should deal with the relationship between ownership structure and conservative accounting of companies to see whether such a relationship exists in Iran's market. This study aims to investigate the relationship between ownership structure and accounting conservatism of listed companies on the Tehran Stock Exchange. Research design, data, and methodology - All listed companies on the Tehran Stock Exchange, for which the required information financial statements (balance sheet, profit and loss account) could be acquired for the period 2007-2012, were studied. A total of 123 companies from various industries was selected. Results - In order to test the hypotheses, multi variate regression (inter procedure), with their meaningful t- and f-statistics, and a Durbin-Watson autocorrelation model were used. Conclusions - The research results show that the ownership of major shareholders and ownership concentration have a negative significant relationship with accounting conservatism. Therefore, as a significant negative relationship between concentration of ownership and accounting conservatism at the 95% confidence level was found, the second hypothesis was confirmed.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.11
• /
• pp.195-204
• /
• 2020

The aim of this study is to estimate the impact of ownership structure on the performance of listed firms in transition economy. Buiding upon agency theory, hypotheses on such relationship are proposed. A detailed panel data of 502 non-financial companies listed on Ho Chi Minh Stock Exchange and Hanoi Stock Exchange over the period from 2013 to 2018, and the system generalized method of moment estimation are employed to test the proposed hypotheses. To ensure the reliability of data, this study excludes companies that violate information disclosure regulations or that are subject to special supervision by the State Securities Commission of Vietnam. Some firms with inadequate information, firms that lack the financial data required for creating variable or firms that have inconsistent construction are also re-screened. We only collect the data of enterprises that have ownership structure of two or more components. Estimation results reveal that state ownership has an U-shaped relationship with the performance of Vietnamese listed firms, while foreign ownership and the degree of ownership concentration have an inverted U-shaped relationship with listed firms' performance. The article provides governance implications that Vietnamese listed firms should decrease state ownership and foreign ownership to improve firm performance in order to boost investors' confidence.

• Korean journal of communication and information
• /
• v.45
• /
• pp.113-150
• /
• 2009

Attempts to relax cross-media ownership have been made by conservative Party and leading dailies. A concern with the cross-ownership of media is predominant in media and political spheres. This article is about the media market concentration created by cross-media ownership. This essay is a response to the demand of the ruling camp that attempts to concentrate on media market, and to increase their influence. I have outlined issues of cross ownership. The finding of this research supported the rationale of ban on cross ownership of newspaper and broadcasting outlet.

• International journal of advanced smart convergence
• /
• v.12 no.3
• /
• pp.157-162
• /
• 2023

This study analyzed the relationship between ESG performance and corporate value using panel data from Chinese equipment manufacturing companies spanning from 2012 to 2021, and it also examined whether ownership structure moderates this relationship. We have contributed to filling the gap in existing research. The main conclusions of this study are as follows: Firstly, similar to previous researches, ESG performance was found to have a positive and statistically significant impact on corporate value. Secondly, when the three dimensions of ESG - Environmental (E), Social (S), and Governance (G) - were analyzed separately, it was observed that E and S have a positive and statistically significant impact on corporate value, while G has a negative and statistically significant impact. Thirdly, ownership concentration emerged as a significant moderating factor in explaining the connection between ESG performance and corporate value. Lastly, when the three dimensions of ESG were analyzed separately, ownership concentration was found to serve as a positive moderating factor in the relationship between corporate value and E and S, but it did not play a statistically significant role for G.

• Korean journal of communication and information
• /
• v.56
• /
• pp.71-85
• /
• 2011

This thesis reviews the process in which the regulation systems against ownership concentration of newspapers established with the opportunity of legislation of the periodical act in 1987 was reinforced as they were all amended to the newspaper act in 2005 and as they were again amended in 2009 it came to confront crisis in the aspect of press law legislation history. The regulation systems against ownership concentration of newspapers established based on the principle of legality of newspaper function in the Clause 3, the Article 21 of Constitution was reinforced as the newspaper act in 2005 and in 2006 they began to shrink following the Constitution Court decision against newspaper act. As newspaper act and broadcast act are revised in 2009, regulation against combining the management of newspapers with broadcast and regulation against owning multiple number of newspapers came not to exist. Because in this process, the opposition party also allowed limited cross-ownership of newspaper and broadcast, it can be said that the system of newspaper ownership regulation confronted the crisis of dissolution. The instruction of regulation alleviation in a short period of time in spite of the fact that regulation alleviation which allows cross-ownership of newspaper and broadcast is the matter of policy that should be decided after long-term review of the change of media environment and the progress of the power of domination of public opinion is dangerous. Newspapers are strong media with terrestrial broadcast in formation of public opinion on politics. It's because it is difficult to ignore the worry that the power of domination of public opinion of the newspapers which are in oligopoly of newspaper public opinion market can be spreaded to the territory of report broadcast. From the point of view that there is probability for democracy to be ultimately threatened due to the shrink of political Darwinism caused by concentration of media ownership, the alleviation of ownership concentration of newspapers should have premise of long-term social discussion.