Corporate governance and performance of the financial firms in Bahrain

Aktan, B.; Turen, S.; Tvaronavičienė, M.; Celik, S.; Alsadeh, H. A.

doi:10.17512/pjms.2018.17.1.04

Artykuł - szczegóły

Tytuł artykułu

Corporate governance and performance of the financial firms in Bahrain

Autorzy

Aktan B. , Turen S. , Tvaronavičienė M. , Celik S. , Alsadeh H. A.

Treść / Zawartość

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Identyfikatory

DOI

10.17512/pjms.2018.17.1.04

Warianty tytułu

Ład korporacyjny a wyniki firm finansowych w Bahrain

Języki publikacji

Abstrakty

The aim of this paper is to explore the relationship between corporate governance and performance of the financial firms in the Kingdom of Bahrain. The study uses annual data of all listed financial firms on the Bahrain Bourse over the period of 2011-2016. The results show that board size, ownership concentration and auditor’s reputation have a positive and significant impact on firms’ return on assets (ROA), whereas the percentage of independent directors and the annual number of board meetings have negative and significant impact on firms’ return on equity (ROE). CEO duality is found to not be an important determinant factor of firms’ performance, as the results suggest that it shows insignificant effect on ROA, ROE and stock returns (SPR). Furthermore, firm’s size and leverage are found to have negative and insignificant relationship with firms’ performance.

Celem artykułu jest zbadanie związku między ładem korporacyjnym a wynikami firm finansowych w Królestwie Bahrajnu. W badaniu wykorzystano roczne dane wszystkich notowanych firm finansowych w Bahrajnie w okresie 2011-2016. Wyniki pokazują, że wielkość zarządu, koncentracja własności i reputacja audytora mają pozytywny i znaczący wpływ na rentowność aktywów przedsiębiorstw (ROA), podczas gdy odsetek niezależnych dyrektorów i roczna liczba posiedzeń zarządu mają negatywny i znaczący wpływ na przedsiębiorstwa z kapitałem własnym (ROE). Dualizm dyrektorów generalnych nie jest istotnym czynnikiem determinującym wydajność firm, ponieważ wyniki sugerują, że ma on niewielki wpływ na ROA, ROE i stopy zwrotu (SPR). Ponadto stwierdzono, że wielkość firmy i jej wpływ mają negatywny i nieistotny związek z jej wydajnością.

Słowa kluczowe

corporate governance firm performance emerging market Bahrain

ład korporacyjny wydajność firmy rozwijający się rynek Bahrain

Wydawca

Czestochowa University of Technology

Czasopismo

Polish Journal of Management Studies

Rocznik

2018

Tom

Vol. 17, No. 1

Strony

39--58

Opis fizyczny

Bibliogr. 63 poz., tab.

Twórcy

autor

Aktan B.

gbora@uob.edu.bh

College of Business Administration, University of Bahrain, Bahrain

autor

Turen S.

sturen@uob.edu.bh

College of Business Administration, University of Bahrain, Bahrain

autor

Tvaronavičienė M.

manuela.tvaronaviciene@vgtu.lt

Vilnius Gediminas Technical University, Vilnius, Lithuania

autor

Celik S.

saban.celik@ikc.edu.tr

Katip Celebi University, Izmir, Turkey

autor

Alsadeh H. A.

hash3300@gmail.com

Civil Service Bureau, Bahrain

Bibliografia

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Uwagi

Opracowanie rekordu w ramach umowy 509/P-DUN/2018 ze środków MNiSW przeznaczonych na działalność upowszechniającą naukę (2018).

Typ dokumentu

Bibliografia

Identyfikator YADDA

bwmeta1.element.baztech-892e4156-f5cc-4dc4-92d0-a28a297f808f