• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.3
• /
• pp.1205-1215
• /
• 2021

The study's purpose is to assess how board chairman tenure (BCT) contributes to limiting the earnings management practices (EM) in Iraqi banks. We compare the direct influence of the corporate governance mechanisms (CG) on EM practices and use BCT as a moderator that affects the influence of CG on EM. The sample of the study is the financial' firms listed on the Iraqi Stock Exchange for the period 2013-2018. Using purposive sampling data was collected from annual reports and data stream. We use the random effect model in panel data regression by using Stata to analyze the data. Findings proved that CG mechanisms insignificantly influence EM, except the meeting frequency was significant. By contrast, BCT had a positive and considerable influence as the moderating variable between CG and EM. These results suggested that the Chairman's tenure on the board lead to enhanced governance mechanisms to limit the EM practice in Iraqi financial firms. Accordingly, this study is one of the few studies in the Iraq environment that examine the influence of CG mechanisms on EM practices, in addition to examining the BCT as a moderator between CG and EM, thus, filling the gap in such studies in developing countries.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.243-253
• /
• 2021

This study aims to examine (1) the association between the chief executive officer tenure and audit quality, (2) the relationship between chief executive officer duality and audit quality, (3) the association between board independence and audit quality, (4) the relationship between board size and audit quality, and (5) the role of controlling variables (client size, leverage debt, and business complexity) in controlling these relationships. The research sample includes 325 financial reports from manufacturing firms listed in Amman Stock exchange over the 2014-2018 period. The study relationships are tested by using logistic regression. The results revealed a negative relationship, but not significant between CEO tenure and independent directors with audit quality. In addition, the results showed there is a negative effect of CEO duality on audit quality; also the results revealed that there is a statistically significant effect on the board of directors (board size) on the AQ. In general, the coefficient estimates of controlling variables show that client size and leverage debt positively affect audit quality, and on the contrary, business complexity has an insignificant positive relationship with audit quality. The summary of the study findings play an active role to external auditor opinion on business practice in towered the corporate governance system.

• Asia pacific journal of information systems
• /
• v.24 no.4
• /
• pp.531-557
• /
• 2014

Although the area of information security planning and management has gained an increased attention, not much discussion was available on the role and the impact of the board members towards a firm's security management and governance decisions. In this research, we draw on corporate governance and the organizational demography literature to conduct an exploratory empirical study on the association between the board structure of a firm and the possibility of information security breaches. Our results show that the board size, the average age/tenure and the heterogeneity of age could reduce the possibility of security breaches while the proportion of independent directors and the heterogeneity of tenure could increase it. Our findings shed lights on the important role played by the board when managing information security risks in organizations.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.3
• /
• pp.87-99
• /
• 2020

The study aims to investigate factors that determine dividend payout policy using 336 non-financial firm year observations covering the period 2005 to 2016 in Malaysia. We found a significant positive relationship between corporate board size, board members average age, board tenure and dividend payout policy. We also found a strong negative effect and statistically insignificant relationship of board diversity, board independence, CEO duality and dividend payout policy. Additional, financial leverage has a negative effect on dividend payout policy. It is also noticed that firms with diverse boards are more likely to pay dividends and tend to pay larger dividends than those with non-diverse boards. Our results suggest that board diversity has a significant impact on dividend payout policy. Impact of board diversity on dividend payout policy is particularly conspicuous for firms with potentially greater agency problems. Our findings are consistent with the argument that corporate board traits enhancement positively affect the dividend payout policy which is beneficial for shareholders. This study offers useful insights into the current global debate on board traits and its implications for firms. The dividend payout policy signals good news to investors. Corporate board traits and firm's financial decision are the factors that disrupt the dividend decision.

• Asia-Pacific Journal of Business
• /
• v.11 no.4
• /
• pp.225-241
• /
• 2020

Purpose - The purpose of this study was to examine the effect of the ratio of outside directors, especially the ratio of outside directors according to their tenure, on firm value. Design/methodology/approach - This study collected total 3,861 firm-year data about companies listed KRX KOSPI market in Korea. The Pooled Ordinary Least Square Model and Panel Fixed Effects Model were hired in order to analyze the data. Findings - First, it was found that the ratio of outside directors for total sample had no significant effect on firm value, and the estimation coefficient of dummy variable for the average tenure less than 3 years had a significant positive(+) effect on firm value. Second, the ratio of outside directors corresponding to the tenure of less than 3 years had a significant positive(+) effect on the firm value. On the contrary, the ratio of outside directors corresponding to the tenure of 3 years or more had a significant negative(-) effect on firm value. Third, the ratio of outside directors corresponding to the tenure for more than 6 years did not show any significant influence on firm value. Research implications or Originality - First, if other matters are not additionally considered, keeping the tenure of outside directors shortly on average could help to increase firm value. Second, in the case of firms facing the decision to reappoint outside directors for the first time, it is highly likely that the firm value would decrease on average, so careful decisionmaking considering various aspects is required. However, this study does not take into account the legal standards for the appointment of outside directors, diversity of outside directors, and the actual independence of outside directors according to other criteria in the analysis. Therefore, if these factors are considered, there is a possibility that the empirical analysis results of this study may show different patterns.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.12
• /
• pp.191-201
• /
• 2021

The objective of this research is to investigate how the board of directors' characteristics influence sustainability disclosures with the mediating effect of corporate governance. The independent variables are the characteristics of the board of directors, which consist of the presence of women on the boards, presence of directors aged over 50 years old, education level, education field, board tenure, and compensation. The dependent variable is sustainability disclosures, which is measured by the GRI standard disclosure, whereas the mediator variable is the CG score. Research samples are 460 companies listed on the Stock Exchange of Thailand (SET). Path Analysis is used to examine the correlation between the board of directors' characteristics, CG score, and GRI standard disclosure. The research findings show that senior boards, the education field, and compensation motivation have an effect on sustainability disclosures, whereas corporate governance is a mediator of the effect of the education field of boards on sustainability disclosures. This finding should help shareholders to choose individuals with suitable characteristics to serve on the board of directors, and, as a result, shareholders should anticipate a profitable result to be generated, while the business of the company is conducted in a sustainable way.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.4
• /
• pp.213-228
• /
• 2022

This paper investigates the association between key corporate governance characteristics and the performance of general insurance businesses listed on the Saudi stock exchange (TADAWUL). The methodology for the study is based on a pooled data collection for 11 Saudi general insurance companies from 2011 to 20. The linear regression model and the logarithm regression model are suggested to assess the relationship between performance and corporate governance characteristics. The dependent variable is firm performance measured using ROA, ROE, and Tobin's Q. The independent variables are corporate governance variables consisting of a complete set of board and audit committee characteristics. Insurer-specific control variables are introduced. The empirical results reveal that the characteristics of corporate governance influence the performance of insurance companies. In particular, the board size, board's tenure, the proportion of independent directors in the board, audit committee size, audit committee meeting frequency, and proportion of health insurance premiums have a positive impact. However, audit committee independence, size of the company, and proportion of reinsurance premiums have a negative impact on the performance of the Saudi general insurance companies. Finally, the empirical results indicated also that there is an unclear relationship between the performance and board meeting frequency, compensations of the Board, and the average age of the Board.

• Journal of Distribution Science
• /
• v.20 no.12
• /
• pp.13-22
• /
• 2022

Purpose: The paper contributes to the existing literature on Vietnamese corporate governance and firm performance with a focus on listed family firms and the use of a more suitable econometric framework to analyze firm performance. The study investigates how family firm performance is affected by corporate governance under the standpoint of stewardship theory in Vietnam. Research design, data and methodology: With the use of different measures for firm performance (Tobin's Q, ROA, and ROE), regression models were estimated using Generalized Least Square (GLS) method on a panel data of a total of 113 listed companies during the five-year period from 2015 to 2019. Results: We found that family ownership as the main characteristic of the stewardship theory affects family firms positively. In addition, several other characteristics in corporate governance as board composition (board independence, board audits, and board committees), CEO (age and tenure) and firm characteristics (size, age, expansion, and annual sales) showed significant impacts on firm performance. Our findings also suggest that family firm performance can be either positively or negatively affected based on the characteristics of corporate governance. The findings can help companies evaluate the significance of corporate governance through deciding board structure and the selection of CEOs to match family firm characteristics. It also gives insights for investors, rating agencies, and policymakers for relevant purposes.

• Journal of Korean Academy of Nursing
• /
• v.41 no.1
• /
• pp.101-109
• /
• 2011

Purpose: This study was done to comparatively analyze the general education curriculum of 4-yr and 3-yr nursing schools in Korea. Methods: Ten university 4-yr nursing schools were selected based on universities in Korean Accreditation Board of Nursing 2010 or "2009 Korea's Best Universities-Top 10" published by Joong-Ang Daily. Ten college 3-yr nursing schools were selected based on colleges in Korean Accreditation Board of Nursing 2010. Results: 1) Generally 4-yr nursing schools maintained the relationships between organizational philosophy/purposes and subjects in the general education curriculum. But 3-yr nursing schools did not. 2) In 4-yr nursing schools there was a relatively higher credits ratio of general education curriculum and selective courses than in 3-yr nursing schools. 3) In 4-yr nursing schools variety of courses was relatively higher than 3-yr nursing schools. 4) In 4-yr nursing schools, operating conditions were relatively better (number of tenure professors, ratio of professors to students, Identification of exclusive organization in charge of the general education curriculum) for the general education curriculum than 3-yr nursing schools. Conclusion: The results identify significant differences in the general education curriculum of 4-yr and 3-yr nursing schools in Korea, indicating that 3-yr nursing schools should make efforts to improve the good quality of general education curriculum.

• Korean Association of Arts Management
• /
• no.55
• /
• pp.115-154
• /
• 2020

This paper examines the professional qualifications of the directors of important public art museums in Korea in comparison to museums outside Korea through analysis of the directors' primary qualifications, including academic background, major, career experience, and study abroad experience, as well as secondary qualifications, including length of tenure, age, gender, and alma mater, which can indirectly the hiring process for directors. The museums examined in this study are separated into three geographical categories - 1. Seoul, 2. the Seoul Metropolitan Area, and 3. locations in Korea outside the Seoul Metropolitan Area - to analyze how the influence of primary and secondary qualifications differs across geographies. Additionally, this study looks at how the professional qualifications of directors in Korea compare to the qualifications of directors outside Korea to identify the idiosyncrasies of the Korean system. It finds that directors in Korea, in general, have a shorter length of tenure, are older, are more likely to be female, and are less likely to be foreign than the directors of overseas museums. Experience-wise, directors in Korea often have experience working as art experts, artists, and art professors, but their backgrounds differ depending on the region in which they are working. Although directors in Korea have, across the board, studied abroad and graduated from prestigious universities, there are noticeable differences across the three geographical locations looked at. Notably, in Korea, the proportion of directors who majored in practical skills is high, while in the case of directors overseas, the proportion of those who majored in art history is high. In addition, while a high percentage of directors are graduates of Hongik University regardless of their museum's location, graduates of Seoul University are mainly concentrated in the Seoul and Seoul Metropolitan Areas. Museums outside the Seoul Metropolitan Area, on the other hand, often hire directors who have graduated from a nearby university. These differences mark a contrast between Korean museums and museums overseas, which generally hire directors who have graduated from prestigious universities, regardless of geographical location.